InterX PLC
14 February 2001
INTERX PLC ('InterX' or the 'Company')
Board Changes and Trading Update
The Board of InterX announces that Philip Crawford has resigned as a
director and Chief Executive of the Company with immediate effect.
Simon Barker, an executive director and one of the founders of InterX,
has been appointed Chief Executive.
The Company will announce its interim results for the six months ended 2
February 2001 in March. During the second quarter the Company entered
into contractual arrangements with four new customers, two of which were
for the provision of consultancy services. Four licence agreements were
concluded during the quarter; two of these were as part of the Company's
partner development programmes. Both the cash position and the net loss
for the half year are expected to be in line with the Company's internal
budgets.
The Board is concerned with the high ongoing cost of customer
acquisition arising from a combination of general market conditions,
under which corporate spend on internet-related software has been
depressed, and the Company's current route to market. Accordingly, the
Board has commenced a strategic review of the business in order to take
greater advantage of the significant opportunities available for its
technologies. The results of the review will be communicated at the
time of the interim announcement.
Richard Jewson, Chairman, said:
'The Board remains entirely confident in the value of the Company's
technologies, which we firmly believe will underpin the long-term
success of the business'.
Enquiries:
Simon Barker, Chief Executive 020 8817 4409
Simon Miesegaes, Finance Director 020 8817 4409
Colin La Fontaine Jackson, ING Barings 020 7767 1000