Trackwise Designs PLC AGM Statement (4044D)
June 26 2019 - 1:00AM
UK Regulatory
TIDMTWD
RNS Number : 4044D
Trackwise Designs PLC
26 June 2019
26(th) June 2019
TRACKWISE DESIGNS PLC
("Trackwise" or the "Company")
AGM Statement
At today's Annual General Meeting of Trackwise Designs Plc, a
leading provider of specialist products using printed circuit
technology, the Board will give shareholders the following update
and review of the business.
We have enjoyed a promising start to the year, building on the
progress made since the IPO in June 2018. The Radio Frequency
division continues to provide a steady, profitable basis for the
business. The management team are making good progress with the
introduction of the Company's proprietary Improved Harness
Technology ("IHT") to the broader market. Interest continues to
grow from an increasing number of potential customers across
aviation, automotive, medical, space and industrial markets.
Of note in the first few months of the year has been the
successful delivery of the second ship set for the wiring harness
of a UAV/High Altitude Pseudo Satellite for a US aerospace OEM and
the expansion of our customer opportunities within the medical
sector, where we now have four active development
opportunities.
The new business being won and developed is by its nature lumpy
in its quantum and drawn out in its adoption, due to the need to
configure technical aspects of the product in conjunction with our
customers' technology. However, each new project has the potential
to generate significant revenue over the long-term due to the size
of the end markets.
The productivity and efficiency of our manufacturing
capabilities continues to take considerable strides forward,
benefiting from the successful installation of three new processing
lines, including a vertical continuous plating line, the first of
its kind in Europe.
The Company is currently trading in line with market
expectations and our operational progress and continued growth in
customer numbers provides the Board with confidence in the
long-term prospects for Trackwise.
Enquiries:
Trackwise Designs PLC www.trackwise.co.uk
Philip Johnston, CEO +44 (0) 1684 299930
Mark Hodgkins, CFO
Arden Partners plc
NOMAD and Broker
Ciaran Walsh/Steve Douglas/Dan Gee-Summons +44(0)20 7614 5900
Alma PR
Financial PR and IR
Josh Royston/Caroline Forde +44(0)20 3405 0212
Notes to editors
Trackwise is an established business that manufactures
specialist products using printed circuit technology. The Company
consists of two divisions Radio Frequency ("RF") and Improved
Harness Technology ("IHT").
The RF business unit manufactures specialist printed circuits
which are primarily used in the antenna infrastructure to support
the 4G/5G mobile phone networks. However, the technology has a
number of other applications which render the RF business a stable
revenue generator.
The IHT division utilises the Company's unique proprietary
technology, a patented process that Trackwise has developed to
manufacture unlimited length multilayer flexible printed circuits.
The Directors believe that the technology has many applications but
believe one of its primary uses could be to replace traditional
wire harness used in a variety of industries.
Trackwise Designs plc was admitted to trading on AIM on 31 July
2018 with the ticker TWD.
For additional information please visit: www.trackwise.co.uk
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END
AGMFAMFTMBJTBIL
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