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WAP Integrators - NO RECOMMENDATION

07/03/2002

WAP Integrators became the second Aim-listed mobile internet infrastructure firm to cease trading in the past few weeks (the other being RTS Networks) as it went into voluntary liquidation. The decision to wind up the company was taken after its management concluded that 'WAP as a platform has not developed in the way the directors originally expected' and 'the take-up and use of WAP-enabled devices is not as widespread as the directors anticipated in their original business plan'. As of 1 March, £1.4m (of the £3m raised prior to listing) remained in the bank. Just over £1m is likely to be returned to shareholders.

Market cap: £1.5m
PE Forecast: n/a
Share price: 1p

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