Comeleon PLC
03 September 2002
For Immediate Release 3 September 2002
COMELEON PLC ('the Company')
MAJOR ORDERS - £1 MILLION INCLUDING FIRST FOR 3D IMAGE BOX
comeleon plc, the imaging technology company, announces that it has won
contracts worth £1 million from Listawood Limited ('the Listawood Contract'),
the largest manufacturer of mouse mats in the UK, serving the corporate gift
market across Europe. The contracts include the first distribution licence for
comeleon's 3D ImageBox under a 12 month exclusive agreement and an 18 month
agreement to supply imaged corporate mice in the UK and Europe.
In June, comeleon raised £4.2 million to fund the completion of the development
of the Image Box, support its commercialisation and to finance other business
opportunities. Less than three months later, Listawood has bought the first
machines for distribution across Europe. Installed in shops, individuals will be
able to have computer mice customised with images of their choice in just a few
minutes.
Additionally, Listawood has ordered computer mice to be imaged at comeleon in
Newcastle for the corporate gift market. As part of the contract, Listawood has
acquired the exclusive license to supply the corporate gifts market with
comeleon imaged mice in Europe.
In the last quarter, the changeover of several major mobile phone models, which
extends the range of products that is available to the company's activity of
facia decoration, has affected the usual product cycle, leading to reduced
orders for obsolete fascia types, and a more restricted supply of components for
new models. Management now expects that sales for the full year will be in
excess of £4m, excluding any benefit in the current year from the Listawood
Contract.
During this period the Group carefully managed both cash and costs to ensure
that management are confident of achieving market expectations for the loss for
the year and that the company will have both cash and significant headroom at
the year end to continue to grow the business rapidly.
Roy Stanley, Chief Executive, comeleon, said:
'£1 million customers are always very welcome. In this case, Listawood is also
kick-starting the launch of the 3D Image Box, a product which we believe has
enormous potential to become a part of the high street like chocolate machines,
photo booths and cash machines.'
Contacts:
Roy Stanley, Chief Executive Officer Tel No: 01207 523 333
Tim Robinson, Finance Director
comeleon plc www.comeleon-ir.co.uk
Tim Anderson
Lisa Baderoon Tel No: 0207 466 5000
Buchanan Communications Limited www.buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange