Re QAD Agreement
October 20 2009 - 12:02PM
UK Regulatory
TIDMMXM
RNS Number : 1146B
Maxima Holdings PLC
20 October 2009
+----------------------------------------+------------------------------------------+
| | 20 October 2009 |
+----------------------------------------+------------------------------------------+
Maxima Holdings plc
Re: QAD Agreement
Maxima Holdings plc ("Maxima" or "the Company"), the IT business systems and
managed services company, has today been advised that its agreement with QAD
Europe BV for distribution of QAD Enterprise Software will not be renewed when
it expires on 31 January 2010. Whilst Maxima has been an award winning
distributor for QAD and is the only distributor of QAD software in the UK and
Ireland, Maxima has been informed that, following a change to QAD's business
model, QAD will service its clients directly from 1 February 2010.
Maxima continues to have Distribution Agreements and strong relationships with
other leading enterprise software vendors including Microsoft, SAP and Oracle
and will be redirecting its resources to mitigate the impact of QAD's decision.
As announced on 24 September at the time of its AGM, the Company's focus on
further improvement in service and solution delivery continues to win new
business and the Directors are pleased with the progress of the Group.
Despite this progress and the mitigating actions to be taken, the Directors
expect this decision by QAD to have an adverse effect on revenues and profits
for the current financial year. At this time, the Directors estimate the impact
on current year adjusted operating profits to be up to GBP1.3m. A further update
on current trading will be issued following Maxima's half year ending 30
November 2009, in mid-December.
For further information please contact:
+------------+----------------+
| Maxima | |
+------------+----------------+
| Graham | 01242 211 211 |
| Kingsmill, | |
| Chief | |
| Executive | |
| Officer | |
+------------+----------------+
| David | 01242 211 211 |
| Memory, | |
| Chief | |
| Financial | |
| Officer | |
+------------+----------------+
| | |
+------------+----------------+
| Cenkos | |
| (Nominated | |
| advisor to | |
| the | |
| Company) | |
+------------+----------------+
| Stephen | 020 7397 8900 |
| Keys | |
+------------+----------------+
| | |
+------------+----------------+
| Smithfield | |
+------------+----------------+
| Reg | 020 7360 4900 |
| Hoare | |
| / Will | |
| Henderson | |
+------------+----------------+
Editor's Notes
For further information please contact:
Victoria Franks,
Marketing Manager
+44 (0)1242 211 284
marketing@maxima.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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