Principal Activity
The principal activity of the Group is that of the
distribution of computer components. However the Directors have adopted a
new strategy of investing in fast growth companies and intend to turn the
company into an investment company.
Business Review, Results and Dividend
A review of the business is contained in the
Chairman's statement. The Directors have recommended the following
dividends:
| |
2003 |
2002 |
| Dividends paid on ordinary
shares |
£495,000 |
£990,000 |
Imvestments
On 9
January 2004, Fundamental-e Investments Plc agreed to acquire 70% of the
issued share capiral of Proactive Games Limited for a consideration fo
£150,000. the consideration will be satisfied by the issue fo 4,285,714
new ordinary shares of Fundamental-e Investments Plc when certain
performance targets hvae been met by Proactive Games Limited. Proactive
Games Limited specialises in acquiring computer games and distribution
peripherals.
On 2 February 2004, Fundamental-e Investments Plc acquired 51% of the
issued share capital of Europass Telecom Limited for a consideration to be
satisfied by the issue of 12,750,000 new ordinary shares of Fundamental-e
Investments Plc. The consideration will be paid when certain performance
targets have been met. Europass Telecom specialises in supplying premium
and discount rate telephone calls in the UK and Spain.
Most recently, the Company has formed 'Fundamental Multi-Media Media
Systems Limited provides a sales and marketing interface with the end
users and is responsible for the sales and marketing fo the Company's
products and services. It will also offer an integrated media package
combining the products and services of the Group's businesses.
Directors
The
present membership of the Board is set out below. The Board comprises a
chairman and 2 executive directors.
Mr Eagle is the executive Chariman
of the Company. He has over twenty-five years experience inthe finance
industry, and is also executive Chairman of SP Holdings Plc and
non-executive Director of Easier Plc.
Directors and Directors Interests
The Directors who held office during the year were
as follows:-
S Willmott (resigned 13
August 2003)
RH Durston (resigned 2 January
2004)
P Kitson (resigned
2 January 2004)
I Ashworth (appointed 13
August 2003)
Employment Policies
The Company depends on the skills and commitment of
its employees in order to achieve its objectives. Company staff at every
level are encouraged to make their fullest possible contribution to its
success.
The Company's selection, training, development and promotion policies
ensure equal opportunities for all employees regardless of gender, marital
status, race, age or disability. All decisions are based on merit.
Share Option
No
share options were outstanding at 30 September 2003 and no options have
been granted since that date.
Substantial Shareholders other than Directors
As at 10 March 2004 the following interests
of 3% or more in the issued share capital of the Company appeared in the
register maintained under the provisions of section 211 of the Companies
Act 1985. |
