Business
AGM Statement
AGM Statement.
About this update from Arcontech Group Plc
[{"type":"text","content":"\n Knowledge Technology Solutions PLC\n29 December 2006\n\n\n\n\nRNS release\n\n\n29 December 2006\n\n Annual General Meeting Update\n\n\nAt today's Annual General Meeting of Knowledge Technology Solutions PLC ('KTS'\nor the 'Company'), the Chief Executive will outline to shareholders the main\ndevelopments over the year and discuss current prospects.\n\n\nChief Executive's AGM Report\n\n\nAs previously reported in our final results statement released on 4 December, we\nintroduced a new strategy aimed at building a broader, higher margin revenue\nbase.\n\n\nThe new strategy maintains the focus on the strength and flexibility of our\ntechnology, but reduces the Company's dependency on revenues derived solely from\nmarket data subscription services.\n\n\nAs part of the diversification, a new area of focus has been the creation of\nspecific solutions that address the requirements arising from the planned\nintroduction of the Markets in Financial Instruments Directive, MiFID. As you\nmay be aware, MiFID is an EU directive aimed at creating transparency throughout\nthe European Union for market participants dealing in securities and is expected\nto become law from 1 November 2007.\n\n\nComplying with MiFID will require considerable investment from financial\ninstitutions, creating for KTS many revenue earning opportunities where we can\nwork with partners such as major investment banks and brokers to build solutions\nthat not only meet MiFID's regulatory requirements, but also potentially lead to\ntangible commercial benefits among our target partner base.\n\n\nImportantly, through participation in MiFID implementation forums over the last\n15 months, we believe we have identified separate but equally compelling\nopportunities among both the investing side and the securities' sales side of\nthe target financial institutions, again if successful, significantly broadening\nour market beyond its current revenue base.\n\n\nAgain, as part of KTS's strategy to increase market share, we have also\nintroduced MarketTerminal ON-SITE. This is a new product that provides global\nbanks with customised viewing applications that are designed to improve the\ninterface between a bank's internally originated and derived information and the\nexternal data and prices sourced from a plethora of third party suppliers.\n\n\nMarketTerminal ON-SITE uses the...