Change of business

RNS Number:8203H
QuikTrak Networks PLC
26 January 2005


                             QuikTrak Networks plc
 
                               Change of business


As reported in September 2004, the Company has refocused its operations in order
to enable it to exploit the Intellectual Property Rights of the QuikTrak
technology and its unique software in Europe, the Middle East and the countries
of the former USSR through network sales and licensing arrangements.  Whilst
these efforts have continued since then, there has been a disappointing lack of
progress in achieving network sales and licensing arrangements of QuikTrak's
technology.  The Company currently holds cash balances and listed investments
amounting to #850,000 and remains well funded for its current activities.

Following discussions with a number of shareholders the Directors have concluded
that it would be in the interests of the Company and shareholders to reconsider
the nature of the Company's principal business.  The Chairman has considerable
experience of investment in the mining and minerals sector and the Board
believes that the business of the Company should be carried forward in this
direction.  Subject to the approval of shareholders, the Directors propose that
the principal business of the Company will be to make investments in the natural
resources sector.  The investments may be either quoted or unquoted and may be
in companies, partnerships, joint ventures or direct interests in mining
projects.  The investments may be made in exploration or development stage
undertakings or in producing assets.  The Directors also propose that the
Company change its name to Tarquin Resources plc.  Mr Guido van Alphen will
retire as Chief Executive Officer on 31 January 2005, but will remain on the
board as a non-executive director.

Accordingly, a Notice of Extraordinary General Meeting is being sent to
shareholders, at which resolutions will be put for the following purposes:
     
*    To approve the proposed change of business;

*    To authorise the Directors to dispose of the Company's existing assets, 
     comprising principally the QuikTrak System assets; and

*    To change the name of the Company.

In order to permit the Directors flexibility in pursuit of the Company's
proposed new investment strategy, resolutions will also be proposed:

*    To increase the share capital of the Company; and

*    To authorise the Directors to allot new ordinary shares in the Company and 
     to disapply pre-emption rights.

The Directors consider the passing of the resolutions to be put at the
Extraordinary General Meeting to be in the best interests of the Company and its
shareholders and unanimously recommend shareholders to vote in favour of them,
as the Directors intend to do in respect of their holdings in the Company,
amounting to an aggregate 22,644,204 ordinary shares, which represents 19.5 per
cent. of the issued share capital of the Company.


Enquiries

Annie Richards            QuikTrak Networks plc            Tel:  0870 010 6044
Hugh Oram                 Nabarro Wells & Co Ltd           Tel:  020 7710 7400



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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