Knowledge Technology Solutions ("KTS" or the "Company"), providers of professional market information services in the finance sector, is pleased to announce that it has raised £1,600,000 through a placing of 160,000,000 new ordinary shares of 0.1 pence each at a price of 1 penny per share.
Dealings in the new Ordinary Shares are expected to commence on Aim on 12 December 2006.
These funds are in addition to the £242,571 KTS raised through a recent placing announced to shareholders on 30 November 2006.
Part of the proceeds of the placings will be used for the continued development and rollout of solutions addressing the market requirements arising from the planned introduction of the Markets in Financial Instruments Directive (MiFID) in 2007.
The funds will also be used towards exploring potential acquisitions, and to pursue opportunities for MarketTerminal On-Site, a new tailored solution which enables large investment banks to deploy a fully customised data viewing application based on the Company's proven MarketTerminal display application. The MarketTerminal On-Site solution offers banks far greater control over the presentation and manipulation of their own data, and also considerable cost savings by reducing their dependence on large data vendors supplying this market.
KTS previously announced that it has already made encouraging progress with MarketTerminal On-Site within several banks, including the successful completion of a 'proof of concept' phase with one global investment bank.
Dr Marc Pinter-Krainer, Chief Executive of KTS, said: "We have secured the funds that will enable KTS to more rapidly advance our MiFID and MarketTerminal On-Site solutions. These new areas will complement the income from supplying MarketTerminal, our market data display application, and are based on the same proprietary technology. We are delighted to welcome new investors to KTS and would like to thank our existing shareholders for their continued support."