Knowledge Technology Solutions ('KTS' or 'the Company'), providers of professional market information services in the finance sector, is pleased to announce the board appointments of two directors with immediate effect.
Richard Last has joined the Company as Chairman and Non-Executive Director and Louise Barton as a Non-Executive Director.
Richard Last, 49, has over 15 years' senior experience in information technology, having worked at board level for a number of publicly quoted and private companies operating in this sector. Currently, he is Chairman and Chief Executive of Lynx plc, a privately-owned provider of technology infrastructure and mobile data solutions. Until February 2002 Lynx plc was part of the Lynx Group plc, a fully-listed IT services, software and financial services group. Richard sits on a number of other boards including Patsystems plc, an AIM quoted provider of solutions for futures trading and exchange systems and is Chairman of Xpertise Group plc, an AIM quoted IT training company.
Louise Barton, 56, has more than 26 years' experience as an investment analyst. Louise's background embraces a high profile City career, including having held senior positions with fund management group Prudential Portfolio Managers and stockbrokers CCF Laurence Prust and Investec Securities.
The Company, which recently raised £1.8 million in additional working capital, is pursuing a new growth strategy aimed at building a broader, higher margin revenue base through a combination of further internal product development and selective acquisitions. The new initiatives leverage the strength and flexibility of KTS's proven application technology to target market opportunities within investment banks and to address the market requirements arising from the planned introduction of the Markets in Financial Instruments Directive, MiFID. These additional initiatives reduce the Company's dependency on revenues derived solely from its live market data subscription services.
Dr Marc Pinter-Krainer, Chief Executive of KTS PLC, said: "We are delighted to welcome Richard and Louise to the board of KTS. Both Louise and Richard are fully appraised and supportive of the Company's new growth strategy. As seasoned operators in the IT sector and the City, I am confident that their practical approaches will be important in helping KTS deliver the maximum returns on our investment in our new MiFID and MarketTerminal ON-SITE solutions."
Louise Maxwell Barton does not have any current or former disclosable directorships. Mrs. Louise Barton and her husband, Mr. Brian D. Newman, currently hold in aggregate 26,820,000 ordinary shares of 0.1 pence each in the Company representing approximately 8.07 per cent of ordinary issued share capital.
Richard Last currently holds 2,500,000 shares in the Company. His current and former directorships are set out in appendix 1 in accordance with Paragraph G of Schedule 2 to the AIM Rules. Save as disclosed in Appendix 1 there are no other disclosures to be made for the purpose of that Schedule.