RNS Number : 1879U
RCG Holdings Limited
22 June 2009
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Press Release
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22 June 2009
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RCG Holdings Limited
(the 'Company', the Company and its subsidiaries
collectively referred to as 'RCG' or the 'Group')
A-1 sales order and Trading Update
Ahead of entering its close period, RCG Holdings Limited (AIM:RCG, HKSE:802), an international provider of biometric and RFID products and solution services with a primary focus in the Asia Pacific markets, is pleased to confirm that trading in the current financial year to date remains healthy and in line with management's expectations. The Group anticipates releasing its interim results by mid-September 2009.
The Company is pleased to announce that it has received the first order, together with the payment of a 25% deposit from A-1 Development, Inc. ('A-1') for the sale and delivery of 3,500,000 FxGuard Windows Logon ('WinLogon') licenses to A-1. The acquisition of a minority stake in A-1 by RCG's indirect wholly-owned subsidiary, Virtual Storage Center Sdn Bhd, was announced on 8 April 2009 and completed on 17 April 2009. Following the successful integration of the WinLogon software with CATV's online platform, CATV's subscribers can now download and purchase WinLogon software from the CATV website (www.catv.net). Accordingly, the Group's Consumer segment is projected to have grown in the first six months of this year as compared with the corresponding period in 2008.
The Enterprise segment, benefiting indirectly from the various governmental stimulus plans implemented to counter the global financial crisis, is also expected to have grown compared to the same period last year.
As expected, the Group's Solution Projects segment has performed strongly in 2009, with significant orders received from our PRC customers for both events ticketing and hospital patient tagging solutions as well as multiple contract wins, including from China Construction Bank, Bank of China, China Science & Technology Museum and Wuhan Metro. The Board is confident that this positive trend will persist for the remainder of this financial year.
The Group's Malaysian operation has started to relocate into its new RCG Tower building in Kuala Lumpur, Malaysia and is expected to commence business from the new location by the end of July 2009.
Commenting on the delivery of the WinLogon and RCG trading performance, Dr. Raymond Chu, Chairman and Chief Executive Officer of RCG, said: 'I am extremely pleased with the continuing success of our WinLogon product and the potential for it to enter the lucrative online entertainment market in the PRC. I am also pleased with RCG business performance to date and confident about the future prospects of RCG.'
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For further information:
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RCG Holdings Limited
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Anita Chau, Deputy Chairman and COO
KC Chong, Chief Financial Officer
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Tel: +852 3669 6999
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ir@rcg.tv
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www.rcg.tv
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Media enquiries:
About RCG
RCG, a leading global provider of integrated biometrics and RFID security solutions, is publicly quoted and its shares are listed on the Main Board of the Stock Exchange of Hong Kong Limited and admitted to trading on the AIM Market of the London Stock Exchange and the PLUS market. The Group has an aggressive growth strategy with a clear focus on developing new applications and revenue streams for global roll-out, particularly in the security applications industry.
This information is provided by RNS
The company news service from the London Stock Exchange
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