Loqus Holdings plc - Interim Directors’ Statement

On 3 March, Loqus Holdings plc published its Interim Directors’ Statement covering the period from the start of their 2010/11 financial year on 1 July 2010. Loqus noted that the period under review continued to be a challenging one. Nonetheless, the Group’s focus on its local and international clients and on its core activities is producing a relatively positive outlook and encouraging forecasts for the current financial year to 30 June 2011. Moreover Loqus is continuously reviewing its operations in order to reduce costs and return positive results.

The Directors also revealed that the Loqus Group was awarded the Fisheries Information Solution in December 2010. Work on this local contract has already started and is expected to implemented by the end of this calendar year. The Interim Statement also made reference to current projects and future prospects with various clients including Artoni, GeoPost, Scania, ECP and ACI. Loqus also made reference to the recent acquisition of the NeXT business arm from Alemea Technologies in Italy.

Loqus remains committed to exploring new areas of business growth while placing emphasis on lucrative solutions and services subsidiaries. In this respect, the grant from the European Research and Development Fund (ERDF), award to the Group last year, has enabled Loqus to continue focusing on this crucial business area. The first claim for this grant was submitted in Janaury 2011.

In conclusion, the Directors stated that through the Group’s adaptive strategies and focused business approach, Loqus is well positioned to achieve positive results while remaining fully committed to its clients and stakeholders.

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