APS TECHNOLOGIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/024100/06)
(Share code: APE ISIN code: ZAE 000017927)
("APS" or "the company")
Trading update
Since year-end, 31 December 2002, a European investor has invested, to date R934
812 in the company to ensure sufficient working capital. There has also been a
major change in the board of directors as announced on SENS on 27 March 2003 and
30 April 2003, which is in line with the board"s decisions, to reduce the heavy
overhead structure.
With the overhead structure still in place until the end of April 2003, and the
slow sales in the South African market, the directors do not foresee the company
to be in a profitable situation when it releases its interim results for the six
months ended 30 June 2003. They however expect the company to return to
profitability during the latter part of the year.
The company is also moving its Head Office to Hermanus from 1 July 2003 and its
registered office changes with effect from 24 June 2003 to:
9-On-College
College Road
Hermanus
7200
The annual general meeting of the company has been set for 19 September 2003 at
09:00, at the registered address.
By order of the board
Pretoria
26 June 2003
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