Business
AGM and MetPack Investment
AGM and MetPack Investment.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n Brainspark PLC\n31 July 2006\n\n\nFOR IMMEDIATE RELEASE 31 July 2006\n\n\n BRAINSPARK PLC\n\n ('Brainspark' or the 'Company')\n\n\n Results of Annual General Meeting and MetaPack Investment\n\nAt the Brainspark AGM held on 31 July 2006, all the resolutions were passed to\ninclude the re-election of Mr. Alfredo Villa, Mr. Dennis Bailey, Prof. Francesco\nGardin and Mr. Don Caldwell as directors.\n\n\nMr. Francesco Gardin, Chairman, reported that the Company during the first six\nmonths of 2006 has actively pursued a number of strategic projects, including\nthe development of a new venture in China. Six Memorandum of Understanding have\nbeen signed with some of the largest Chinese Science Parks and further meetings\nwith the Managing Directors of additional Science Parks took place last week in\nChina with Brainspark Chairman and Mr. Burman, our Director based in Beijing.\n\n\nThe Directors continue to seek ways of utilising the capital and trading losses\nof earlier years.\n\n\nBrainspark is also in close contact with the representative of the Geosim US\ninvestors to explore mutual opportunities as Geosim shareholders.\n\n\nThe successful closing of the Kerb sale of Brainspark equity position for\n£205,000 is increasing Brainspark confidence to be able to extract value from\nexisting portfolio companies.\n\n\nAfter completion of the lease contract at the end of March 2006 the company is\ntargeting a monthly cost of below £15,000 per month.\n\n\nIn addition, on 31 July 2006 Brainspark has taken part in the £250,000 new round\nof financing in Metapack Ltd, the leading UK provider of delivery software for\nmulti-\n\nChannel home delivery. Investors in this round include existing investors and\nmanagement, Cross Atlantic Capital Partners and Brainspark. Brainspark has\ninvested £30,000 in this round by converting existing debt into equity and\nsubsequently will hold 10.72% of the company.\n\n\nMetaPack already provides software solutions to leading retailers such as John\nLewis, B&Q, Boots, Dixons, PCWorld and Comet and will continue to benefit from\ninternet driven growth in home delivery. In addition, MetaPack sees significant\ngrowth potential in providing 'software as a service' using an ASP architecture.\nThis will allow MetaPack to target the thousands of medium size companies in\nretail and non-retail who currently u...