Headquartered in Belgium and with offices in Europe, the United States, China, Japan and Australia, Option specializes in wireless solutions enabling Machine to Machine M2M communication With more demo 25 years of experience and many industry firsts, the Company is ideally positioned to offer efficient, reliable and secure solutions across a variety of industries and applications Option partners with system integrators, value added resellers, application platform providers, value added distributors and network operators to bring tailor-made solutions to customers around the world. Option backs its advanced CloudGate M2M solution platform with an extensive engineering consultancy capable of helping you succeed. Our talent and experience have proven extremely effective in helping companies effectively and efficiently develop products. We work with organizations which seek to leverage our years of specialized wireless communications experience to speed time-to-market, reduce risk and proactively avoid product design and development pitfalls. From early stage product feasibility assessments, to final product manufacturing, our Engineering Services can support your full range of needs. Discrimination We will not discriminate against our employees in any of the following areas: Purchasing We will put into place checks, controls and procedures to ensure all our suppliers and sub-contractors: Prevention of Corruption We will include in our distribution and supply agreements anti-bribery standard clauses. Our employment policies outline measures that can and will be taken in order to prevent corruption. Alle product- en bedrijfsnamen hierin kunnen betrekking hebben op geregistreerde handelsmerken of handelsnamen. Option is headquartered in Belgium and maintains offices in Europe, the US, Greater China and Australia. All product and company names herein may be registered trademarks or trade names. Deze transactie versterkt de cashpositie van het bedrijf en geeft het de mogelijkheid om de continuiteit te verzekeren naar toe. Deze 2 activiteiten option de fundamenten van het toekomstig succes van prime bedrijf. De Raad van Bestuur heeft dit aanvaard en Francis Vanderhoydonck huidig lid van de Raad van Bestuur benoemd tot interim Voorzitter van de Raad van Bestuur. Jan Callewaert blijft lid van de Raad van Bestuur die nu uit 5 leden bestaat: Jan Callewaert, Francis Vanderhoydonck, Peter Cauwels, Jan Vorstermans en Raju Dandu. Het bedrijf zal verdere stappen blijven nemen om de kosten in lijn te brengen met de business en blijft zich engageren om samen met de stakeholders te werken aan de herstructurering van de balans. These 2 activities are at the core of the future success of our Company. The Board has accepted and has appointed Mr. Francis Vanderhoydonck current member of the Board as interim Chairman of the Board. Jan Callewaert remains a member of the Board of Directors, which is now composed of 5 members: Jan Callewaert, Francis Vanderhoydonck, Peter Cauwels, Jan Vorstermans and Raju Dandu. Option connects Things to the Cloud. Van zodra deze onderhandelingen zouden uitmonden in concrete resultaten zal het bedrijf de markt hier onmiddellijk over inlichten. Het bedrijf werkt hiervoor samen met systeemintegratoren, value added resellers, application platform providers, distributeurs met toegevoegde waarde en netwerkoperatoren, om zo op maat gemaakte oplossingen aan eindklanten te kunnen voorstellen. As soon as any of these negotiations result in tangible outcomes the Company will immediately notify the market about this. Leuven, Belgium September 1, Option N. EURONEXT Brussels: OPTI; OTC: OPNVYthe company connecting Things to the Cloud, today announced its results for the first half fiscal year ended June The financial information reported in this release is presented in Euros and has been prepared in accordance with the recognition and measurement criteria of IFRS as adopted by the European Union. The accounting policies and methods of computation followed in the attached financial statements are demo same as those followed in the most recent annual financial statements. This increase was mainly the result of Public Lighting sales EUR 1,9 Mio resulting from option acquisition of Innolumis Public Lighting BV and Lemnis Public Lighting BV in January IOT related revenues decreased from EUR 1,3 million to EUR 0,8 million. As the Opex includes EUR thousand for the newly acquired Public Lighting business, the actual Opex savings amount to EUR 1,9 million. Financial costs increased, mainly as a result of interests due on the bridge loans which were issued in the first half of and in and also because of exchange rate losses. The first half of EBIT amounted to EUR -3,2 million compared to EUR -5,0 million during the corresponding period The net result amounted to EUR -4,5 million compared to EUR -6,0 million as per June The newly acquired Public Lighting Business made a small net profit of EUR 13 thousand. The cash position decreased from EUR 4,1 million at the end of prime EUR 0,4 million at the end of June During the first half ofnew shares we created as the result of the conversion of convertible bonds. Directly understanding the needs from end customers looking for IoT solutions enabled by the complete CloudGate solution is proving successful. We are experiencing a business shift where we see the majority of sales coming from direct relationships with industrial corporations and manufacturers. I am happy to announce that the Company won business in the prime of water pump monitoring, advanced energy monitoring, water consumption measurement in apartment buildings, frozen pipes monitoring in public buildings and connected stores. With the demand of cities and municipalities for energy-efficient street lighting, coupled with smart technology, we are currently in discussions to start piloting several city projects. However, this trend is changing as after a change in management the focus shifted towards a direct sales model and the Company has now sufficient signed sales orders to be confident to realize increased sales in the second half of the year. Throughout the first half of the Company continued to embark on commercializing end-to-end solutions in different business segments. On the financial level, the Company has limited means, but will continue its efforts to search and find funding and restructure its balance sheet in order to facilitate its commercial projects and activities. On January 21, Option announced the acquisition of the shares of the Dutch LED lighting companies Lemnis Public Lighting BV and Innolumis Public Lighting BV and merges the two companies into a single commercial organization under the name Innolumis Public Lighting. This limitation or suspension may likewise occur for the benefit of one or more specified persons. The Board has decided to entrust its Executive Chairman, Mr. Jan Callewaert, with the daily management of the Company. On May 12,new shares were created as a result of the conversion of convertible bonds. The decisions to terminate the mandates of FDVV CONSULT BVBA, represented by Mr. Jan Callewaert, executive Chairman, Raju Dandu, non-executive director, FVDH Beheer BVBA, represented by Mr. Francis Vanderhoydonck permanent representativenon-executive independent director, Qunova BVBA, represented by Mr. Jan Vorstermans permanent representativenon-executive independent director, and Sabine Everaet, non-executive independent director. Given the continued cash drain during the first half ofthe Board continues to work on project and financial funding, and further cost alignment. However, the most recent sales forecasts, based on concrete signed orders, indicate a growth compared to actual realized revenues in the first half of the year. On that basis, there is sufficient confidence that the required additional funding will be found. The Company continues the negotiations on the balance sheet restructuring as also the search for new investors at the level of the group or its subsidiaries. The Company is working on a long-term solution. The Company will further report to the market by the end of September and thereafter on an ongoing basis. De resultaten zijn uitgedrukt in euro en werden opgesteld in overeenstemming met de opname- en waarderingsgrondslagen van IFRS zoals aanvaard binnen de Europese Unie. Deze stijging was voornamelijk het gevolg van Public Lighting verkopen 1,9 Mio EUR die volgen uit de overname van Innolumis Public Lighting BV and Lemnis Public Lighting BV in januari IOT verkopen daalden van 1,3 naar 0,8 miljoen EUR. Aangezien de Opex voor de nieuwe het Public Lighting segment duizend Demo bedraagt, is de werkelijke Opex besparing 1,9 miljoen EUR. De cashpositie daalde van 4,1 miljoen EURO op jaareinde naar 0,4 miljoen EURO op het einde van juni Tijdens het eerste halfjaar vanverkreeg de onderneming een overbruggingskrediet van 0,8 Mio EURO. Contacten met de eindgebruikers die IoT oplossingen nodig hebben en dus direct van hen horen wat hun noden zijn blijkt succesvol te zijn. Ik ben verheugd te kunnen melden dat het bedrijf contracten gesloten heeft voor diverse oplossingen: het monitoren van waterpompen, energie monitoring, het meten van het waterverbruik in appartementen en voor het monitoren van bevroren leidingen in publieke gebouwen en geconecteerde winkels. In de eerste jaarhelft werd Option nog steeds geconfronteerd met uitgestelde verkopen. Deze trend is echter aan het wijzigen aangezien na een wijziging in het management de focus verlegd werd naar een direct verkoopsmodel en de vennootschap nu voldoende getekende verkooporders heeft om een hogere omzet in de tweede jaarhelft te realiseren. Op 26 januari heeft de Buitengewone Algemene Vergadering van de Vennootschap beslist om het toegestane kapitaal van de Vennootschap te hernieuwen voor een totaalbedrag van vier miljoen achthonderd vierenveertigduizend achthonderd en twee euro en 70 cent ,70 euro zowel door middel van een inbreng in geld of in natura, binnen de limieten gesteld door het Belgisch Wetboek van Vennootschappen, als door de omzetting van reserves en uitgiftepremies, met of zonder uitgifte van nieuwe aandelen, met of demo stemrecht, of via de uitgifte van converteerbare obligaties, al dan niet achtergesteld, of door uitgifte van warranten of van obligaties waaraan warranten of andere roerende zaken zijn verbonden, of van andere effecten, zoals aandelen in het kader van een Aandelenoptieplan. Bovendien heeft de Buitengewone Algemene Vergadering beslist om aan de Raad van Bestuur bijzondere volmachten toe te kennen, demo geval van een openbaar overnamebod op effecten uitgegeven door de Vennootschap, en dit gedurende een periode van drie jaar, die ingaat op de dag van de Buitengewone Algemene Vergadering die heeft beslist tot deze machtiging, om over te gaan tot kapitaalverhogingen volgens de voorwaarden bepaald door het Wetboek van Vennootschappen. De Buitengewone Algemene Vergadering heeft ook besloten om de Raad van Bestuur te machtigen om, in het belang van de Vennootschap, binnen de grenzen en in overeenstemming met de bepalingen van het Wetboek van Vennootschappen, de voorkeurrechten van de aandeelhouders te beperken of op te schorten wanneer een kapitaalverhoging wordt doorgevoerd binnen de grenzen van het toegestane kapitaal. Bovendien heeft de Buitengewone Algemene Vergadering beslist om warranten aan Danlaw Inc. De Raad heeft beslist om de Uitvoerende Voorzitter, de heer Jan Callewaert, te belasten met het dagelijkse beleid van de Vennootschap. Jan Callewaert, uitvoerend Voorzitter, Raju Dandu, niet-uitvoerend bestuurder, FVDH Beheer BVBA, vertegenwoordigd door de heer Francis Vanderhoydonck vaste vertegenwoordigerniet-uitvoerend onafhankelijk bestuurder, Qunova BVBA, vertegenwoordigd door de heer Jan Vorstermans vaste vertegenwoordigerniet-uitvoerend onafhankelijk bestuurder, en Sabine Everaet, niet-uitvoerend onafhankelijk bestuurder. Echter, de meest recente vooruitzichten qua verkoop, op basis van concrete ondertekende orders, wijzen op een groei ten opzichte van de werkelijke gerealiseerde opbrengsten in de eerste helft van het jaar. Op die basis bestaat prime voldoende vertrouwen dat er benodigde bijkomende financiering zal kunnen demo worden. De vennootschap werkt aan een oplossing voor de lange termijn en zal verder verslag uitbrengen aan de markt tegen het einde van september en daarna op een permanente basis. Peter Cauwels is onder meer managing partner and bestuurder bij Vermec NV, een familiaal investeringsfonds voor ambitieuze middelgrote bedrijven, en Voorzitter bij Eternal Sun Group, een Nederlandse producent van zonnesimulatoren. Vermec NV is houder van converteerbare obligaties van Option uitgegeven in april voor een bedrag van 1,5 mio EUR. Vermec NV holds convertible bonds of Option published in April for an amount of EUR million. Peter Cauwels has gained financial experience as Director of BNP Paribas Fortis Global Markets between and and as a senior advisor, risk management in KBC Group from to Jan Callewaert, Executive Chairman of the board of directors of Option: "We are very pleased that Vermec SA joins our board through its director Peter Cauwels. On the day of the publication of the report, the Company has limited financial means. The Board has however secured new financial commitments which together with the latest sales outlook should allow the company to fund the next 6 months and secure the short term going concern. The latest sales outlook incorporates a growth compared to actual sales realized in the first months; the company is confident it will be able to realize the outlook as it was based on concrete discussions with customers. After this period of six months, new financing will be required. Deze onthouding volgt uit het feit dat de Commissaris vragen heeft over de rapportage in het kader van going concern. De meest recente verkoopsvooruitzichten betekenen een groei ten prime van de gerealiseerde omzet in de eerste maanden van het boekjaar en de onderneming heeft er vertrouwen in de vooruitzichten te kunnen realiseren gegeven deze gebaseerd zijn op concrete gesprekken met klanten. Na deze periode van zes maanden, zal nieuwe financiering nodig zijn. EURONEXT Brussel: OPTI; OTC: OPNVY heeft vandaag haar resultaten bekendgemaakt voor het volledige jaareindigend op 31 december De resultaten zijn uitgedrukt in euro en werden opgesteld in overeenstemming met de opname- en waarderingsgrondslagen van IFRS zoals aanvaard binnen de Europese Unie. De opbrengsten voor het jaar bedroegen 4,7 miljoen EUR in vergelijking met 5,2 miljoen EUR tijdens De CloudGate opbrengsten stegen met 1 miljoen EUR terwijl de opbrengsten van modules en devices daalden met -1,7 miljoen EUR. Het financieel resultaat daalde van -1,8 miljoen EUR in naar -2,3 miljoen EUR invoornamelijk door de interesten op de converteerbare obligatieleningen die werden uitgegeven in het begin van het tweede kwartaal van en in november alsook door de brugfinanciering opgenomen in eerste jaarhelft van De cash burn van werd opgevangen door een overbruggingskrediet van 2,7 miljoen EUR tijdens het eerste halfjaar vande uitgifte van een converteerbare obligatielening van 6,0 miljoen EUR in november en het verder benutten van het werkingskapitaal. Het netto resultaat voor bedraagt -14,1 miljoen EUR of -0,15 EUR per gewone of verwaterde aandeel. Terwijl CloudGate een wezenlijk onderdeel uitmaakt van projecten en oplossingen tonen de jaarresultaten aan dat de geplande pick-up van CloudGate verkopen niet gebeurd is. Het huidige sales proces waar meerdere partners bij betrokken zijn alvorens de oplossing bij de eind-klant belandt blijft complex, trager en met een grotere leercurve dan verwacht. Ondanks het feit dat het CloudGate plaform uniek is en geapprecieerd wordt door onze partners, is het bedrijf niet in staat gebleken om met dit platform op een duurzame en voldoende snelle manier omzet te kunnen genereren. Om deze situatie aan te pakken is het bedrijf reeds in de 2 de helft van en in ook de weg ingeslagen van de verkoop van end-to-end oplossingen als go-to-market strategie. Option is in de kern een engineering bedrijf. Haar expertise in Radio Frequency RF ontwerp en ontwikkeling is wereldwijd erkend. Het bedrijf blijft haar expertise in dit domein actief commercialiseren. Het contract voor het ontwerp en option van een On Board Diagnostics Datalogger OBD voor Danlaw of het werk voor Asea Brown Boveri ABB en Jabil Circuit zijn voorbeelden van de expertise van het bedrijf in engineering services. Het bedrijf blijft haar partner kanaal en eindklanten actief op het CloudGate platform ondersteunen door end-to-end toepassingen die door haar partners werden ontwikkeld te selecteren met de bedoeling om deze ook via Option te gaan verkopen. De Raad van Bestuur heeft beslist met onmiddellijke ingang een einde te stellen aan het mandaat van de CEO, Frank Deschuytere. De Raad van Bestuur heeft beslist het dagelijkse bestuur van de Vennootschap toe te vertrouwen aan de Uitvoerend Voorzitter Jan Callewaert. De afgelopen twee jaar hebben we waardevolle feedback gekregen van onze doelmarkten. Als een gevolg daarvan hebben we zorgvuldig de business segmenten van smart lighting en connected cars geselecteerd. USA, een globale aanbieder van telematica en connected vehicle oplossingen. Het bedrijf slaat een bladzijde om en gaat op een nieuwe manier aan haar toekomst werken. Hierbij zal elke entiteit moeten foucssen op het aligneren van de kosten voor haar activiteiten om minimum break-even te draaien. We bekijken de mogelijkheid om de CloudGate business entiteit zo te organiseren dat we in toekomst partnerships kunnen aangaan. De uitgifteprijs is berekend aan het gemiddelde van de koersen gedurende dertig dagen voorafgaande aan de dag van de uitgifte, overeenkomstig artikel van het Wetboek van Vennootschappen. Om de raad van bestuur tevens bijzonder te machtigen om, ingeval van openbaar overnamebod op effecten uitgegeven door de vennootschap gedurende een periode van drie jaar die loopt vanaf de Buitengewone Algemene Vergadering die tot deze machtiging heeft besloten, over te gaan tot kapitaalverhogingen in de voorwaarden voorzien door het Wetboek van vennootschappen. Om de raad van bestuur tenslotte te machtigen om, in het belang van de vennootschap, binnen de perken en overeenkomstig de voorwaarden voorgeschreven door het Wetboek van vennootschappen, het voorkeurrecht van de aandeelhouders te beperken of op te heffen, wanneer een kapitaalverhoging geschiedt binnen de grenzen van het toegestane kapitaal. Gegeven de aanhoudende cash drain in is de Raad van Bestuur op zoek naar projectfinancieringen evenals bijkomende financiering op korte termijn. Om de raad van bestuur tevens bijzonder te machtigen om, ingeval van openbaar overnamebod op effecten uitgegeven door de vennootschap gedurende een periode van drie jaar die loopt vanaf de Buitengewone Algemene Vergadering die tot deze machtiging zal besluiten, over te gaan tot kapitaalverhogingen in de voorwaarden voorzien door het Wetboek van vennootschappen. SimplyHome of Asheville, N. By communicating with multiple sensors to observe activities of daily living, the SimplyHome systems proactively alert caregivers and loved ones to changes in behavioral patterns. Text, email or phone alerts can be generated by a single event, an intersection of multiple events or by inactivity. The SimplyHome systems also help the resident remain independent with environmental controls that operate beds, lights, TVs, doors, and more via tablet or voice-activation. State and federal healthcare agencies encourage in-home care programs as a vital way to deliver efficiencies. There is a public demo of Smiths Micro application in the Open Mobile Alliance partner event on Wednesday, 26 Februaryat h, in Hall Theatre District. DCN or DeviceCloudNetworks will have a demo set up with CloudGate using IP based Wi-Fi cameras as the end point. At this point, DCN will set up CloudGate and the cameras in their US office and show their capabilities via web device at the show in Barcelona Spain. DCN located in the Meeting Room Suites Area Stand: 2A2MR. Option will be present at the M2M summit scandianvia tradeshow from November 5 in the Kista Exhibition Center Stockholm,booth: M2M04. The M2M Summit Scandinavia presents a brand new platform to discover the latest trends and developments in the rapidly evolving field of M2M communication. You can expect a vibrant conference and exhibition, where major M2M actors including Option meet, exchange and bring their M2M solutions to a truly international audience. In addition to an M2M zone in the exhibition area at the Embedded Conference, the one-day M2M conference provides a unique platform for the presentation of new trends and interesting business cases. Option welcomes key customers as well as System Houses and System Integrators interested in reselling this unique solution intelligent M2M gateway and the provisioning server. Round Solutions and Option will both welcome key customers as well as System Houses and System Integrators interested in reselling this unique solution intelligent M2M gateway and the provisioning server. They have successfully tested CloudGate and are recommending it for various IoT Internet of Things projects. But another reason is disparity in M2M module pricing 3G and 4G cellular modules are over 2 times and 6 times more expensive than 2G modules. Operators dedicated to the M2M market are aggressively moving up the stack and either adding services or partnering to grow their share of the M2M pie. Scala is one of the global leading providers of digital signage and location-based media solutions. Option will be making the case on why CloudGate, the intelligent 3G M2M Demo, is the ideal platform for wireless location-based M2M applications. For Option this is a great opportunity to strengthen its relationships in the European M2M market and to show the unique features of its CloudGate solution. Moreover, they are available to meet with both end-customers as well as M2M System Integrators about the CloudGate solution on the European market. These services enable application developers, service providers and corporate adopters to create, deploy and manage cellular M2M applications. The growth of the VAS market in this area will be driven by the boom in cellular M2M connections. However, the cost and complexity of developing, deploying and operating cellular M2M applications is daunting, leading increasing numbers of companies to outsource cellular M2M application development, deployment and in many cases operation, to VAS providers. For device manufacturers, Axeda Ready provides a testing and implementation program that validates their connectivity via the Axeda agent protocol or their own device protocol. The program includes development and certification of Axeda Codecs protocol translators that leverage the Axeda AnyDevice Service to enable device makers to connect to Axeda using their own device protocol. With more than 20 years of experience and many industry firsts, Option has always been at the forefront of wireless industry. The Option M2M Gateway is a secure, reliable and affordable 3G M2M gateway that brings new levels of flexibility and ease of deployment for M2M solutions. CloudGate also allows simple integration and provisioning of applications and the Axeda Ready agent into its Linux software environment. With a single SKU, CloudGate will work with all of the major network operators in North America and can be configured for the desired service provider at the time of installation. CloudGate is ideal for cost sensitive applications that need a flexible end point device that can manage the connectivity. ClearConnex is an innovative wireless embedded engineering firm with extensive experience in wireless device design and development. ClearComm is a mature, proven, hardware agnostic software platform that can be loaded on any off-the-shelf modem or added to custom designed hardware which provides communication functionality as good as or better than any closed modem on the market. The off-the-shelf modem can be made even better by customizing ClearComm with ClearConnex engineering services to meet your specific prime. This method results in customized solutions at off-the-shelf prices. Since Diamond Technologies has been focused on assisting its customers in improving their products, machines, systems, and operations. The DT is the M2M Machine to Machine gateway for industrial OEMs, system integrators and end users looking to add remote connectivity to industrial equipment. The Echelon platform powers energy-savings applications for smart gridssmart cities and smart buildings. SmartServer is a versatile controller and gateway with integrated Option server that manages devices and connects them to enterprise software and operator workstations. It provides an open platform for easy integration of equipment, systems, operator workstations, and enterprise applications. The TR-606B is a multi-functional and economically feasible communication platform for mobile positioning applications. It integrates highly sensitive GPS module and quad-band 3G GSM communication module with a powerful micro controller that fits into a compact enclosure. It provides real-time GPS positions anytime and anywhere with an open view to the sky, and offers precise positioning, and reports vehicle status to the server with necessary information shown on the map. Axeda ready products include the Vodafone MachineLink 3G, Outdoor WiFi Router and M2M WiFi Router. Pointer Telocation Ltd, NASDAQ:PNTR is a leading provider of end-to-end Telematics products and services for insurance companies, car manufacturers, asset owners, and fleet operators. Enterprises utilizing CelloTrack family products can greatly reduce financial losses incurred by stolen or lost assets and by non-optimized logistics, inventory management or maintenance. The CelloTrack product line improves visibility and control of remote, valuable equipment such as trailers, containers, bins, generators, or any other type of moveable equipment, option powered or not. First of all, many of our customers are launching products with lifecycles of years. As the product itself is connected, for example a car, it also means the connected service can constantly evolve, hence the connected service experience in a car should always feel up to date. In a hyper-competitive global market place the lifecycle view is important. Making it easier for customers not only to build a connected service to reduce time to market, but also to efficiently manage and operate the service over time is critical. Finally, ensuring that the service is flexible enough to evolve, as market needs and technology are constantly changing, is equally important. Let me give a couple of examples, starting with the connected car within a few years it has moved from basic safety and breakdown assistance services to multiple services both within and outside the car. These include navigation with real time traffic information and weather reports, streaming internet radio and other infotainment services. Pay-as-you-drive insurance schemes, road tolls and remote diagnostics to enable proactive service bookings are other examples of connected services. Additionally, the services are deployed in more and more countries. Hence, the connectivity needs and the services around connected products are drastically changing. Another example is the home alarm; from being just an SMS transmission in the event of an alarm, it is becoming a communication hub in the home, remotely opening doors, and steering home appliances. Of course, more advanced alarm services can now be offered, such as real-time visuals and updates when your children get home from school. The key to success is to build in a flexible approach in the offering to enable constant fine tuning. The early stages of solution design are important. Designing based on open standards and avoiding technical lock-ins is of course essential if your product is going to be in market for the next 10 years. This also means we can take an agnostic approach to communication technology. In addition, as more and more products are going online, hacking attempts are likely to increase. Building in security features, optimized for wireless communication is getting increasingly important and an aspect you should pay full attention to right from start. Operating connected services across different regions and technologies is increasingly complex and requires end-to-end know-how to ensure the best end-user experience. The task grows naturally over time as volumes are increasing. Lately, more and more customers choose to outsource the entire operations of connected services to fully gain synergies our existing setup of global operations with dedicated expertise, who can act proactively, secure functionality and give peace of mind. As the market evolves over time it is critical to enable flexible business logics ensuring our customers can try out new business models to capture new market segments and make it easier to consume connected services. In a changing world our customers will constantly evolve and tune their go-to-market proposition, which in turn requires new innovative flexible billing and charging services on our end. Enabling connected services is so much more than supplying SIM and connectivity. Taking an end-to-end and holistic approach is critical to fully identify the key requirements that the solution should fulfill from the start and throughout the entire product lifecycle to remain competitive. The CloudGate automatically resolves problems associated with wireless M2M connectivity and incorporates two hardware expansion slots for RS232 and WiFi functionality. Additional information on these new CloudGate products may be viewed in this video. To find more information, or to purchase the products today on the Richardson RFPD website, please visit the CloudGate webpage. The devices are also available by calling within North America ; or please find your local sales engineer worldwide at Local Sales Support. EURONEXT Brussels: OPTI; OTC: OPNVY today announced its results for the full fiscal year ended December 31, The financial information reported in this release is presented in Euros and has been prepared in accordance with the recognition and measurement criteria of IFRS as adopted by the European Union. For a detailed report on the consolidated Income Statement and Balance Sheet, we refer option the financial report below. Total revenues for were EUR million compared with EUR million realized in CloudGate revenues increased with EUR 1 million and revenues from embedded modules and devices prime with EUR million. The cash position increased from EUR million at the end of to EUR million at the end of The net result for the full year amounted to EUR million or EUR per basic and diluted share. This compares to a net result demo EUR million or EUR per basic prime diluted share during Whereas CloudGate remains a building block of projects and solutions, the full year results indicate that the expected pick-up of CloudGate sales did not materialize. The current sales process involving multiple partners before the solution reaches the end-customer, remains complicated, slow and with steeper learning curves than anticipated. Although the CloudGate platform is unique and appreciated by our partners, the Company has not been able to monetize the platform in a sustainable way fast enough. To address this situation, the Company since the second half of and through additionally embarked on the go-to-market strategy of commercializing end-to-end solutions. At its core, Option is an engineering company. Its expertise in Radio Frequency RF design and development is recognized worldwide. The Company continues to actively commercialize its expertise in these areas. The Company continues to support its channel partners and end-customers on the CloudGate platform by selecting end-to-end applications developed by our partners for further commercialization by Option. The Board of Directors has decided to terminate the mandate of the CEO, Frank Deschuytere, with immediate effect. The Board has decided to entrust its Executive Chairman, Mr Jan Callewaert, with the daily management of the Company. CloudGate technology is perceived as an essential building block adding connectivity and smart applications to the Internet of Things. Over the last two years we obtained valuable demo from our target markets. Consequently, we carefully selected the business segments of smart lighting and connected cars. The Company is turning the page and will be working on its future in a novel way. The Company created, and will manage the following business entities separately: Engineering Services, Smart Lighting Solutions, Connected Car Solutions and CloudGate Solutions. To that end every entity will have to focus on cost alignments for its activities to become at least break-even. We are looking into organizing the CloudGate business entity in such a way that it is ready for future partnering while we see appetite for investments in Smart City applications, in particular connected building and public lighting. The conversion price is set at 30 days average stock price before issue in accordance with Article of the Code of Companies. Given the continued cash drain inthe Board is looking for further project fundings as well as financial funding in the short term. On January 21, Option announced the acquisition of the shares of the Dutch LED lighting companies Lemnis Lighting BV Public and Innolumis Public Lighting BV and merges the two companies into a single commercial organization under the name Innolumis Public Lighting. To authorize the board of directors, in the interest of the company, within the limits and in accordance with the conditions imposed by the Belgian Code of Companies, to limit or suspend the preferential rights of the shareholders, when a capital increase occurs within the limits of the authorized capital. Our sales partners indicated that their orders are postponed till later this year. We have won several contracts to develop solutions for the Internet of Option world. Several important application development projects for US Robotics for out of band management, smart housing applications for Asea Brown Boveri ABB have been finalized and a rail-certified WIFI access point for general deployment in trains, trams and busses has been developed. To further lower the barriers to M2M application development for our customers and to decrease the time from concept to working M2M solution, Luvit-RED was developed. Luvit-RED is a visually configurable agent for the design and deployment of smart M2M solutions. By enabling rapid prototyping, development and deployment of M2M applications, Luvit-RED reduces cost, speeds time to market and mitigates risk. In the first half year we continued to increase our reach into the M2M markets by adding distributors such as TESSCO in the US, Graphite in UK and recently BLUDIS in Italy. Their job is to bring localized solutions and support to channel partners. In the second half of the year the Company expects significant stock replenishment orders from its partners in North America. Onze verkoopspartners gaven aan de hun orders uitgesteld zijn tot later dit jaar. We slagen erin om cash te genereren van oudere producten die we vanuit onze voorraad herwerken naar de vereisten van de eindklant. Nochtans behouden de verkoopspartners van de vennootschap hun vooruitzichten voor Nog belangrijker is dat in de laatste maanden belangrijke vooruitgang werd geboekt op verschillende fronten. De belangrijkste doelstelling was om het aantal applicaties die op CloudGate draaien te verhogen. Tevens werd een oplossing ontwikkeld voor mobiele WIFI toegang, met certificatie voor gebruik in treinen en toepasbaar in treinen, trams en bussen. Om de ontwikkeling van M2M applicaties voor onze klanten verder te vereenvoudigen en om de tijd van concept naar werkende M2M oplossing in te korten, werd LuvitRed ontwikkeld. LuvitRed is prime grafisch configureerbare softwareomgeving voor ontwikkeling en uitrol van slimme M2M oplossingen. Ondertussen stijgt het aantal klanten dat autonoom applicaties op CloudGate ontwikkelt. Hierdoor kunnen we meer gelokaliseerde oplossingen realiseren demo de lokale support voor onze klanten verbeteren. In de tweede helft van het jaar verwacht de vennootschap significante stock opvolgorders uit Noord-Amerika. LEUVEN Belgium July 3, Following the continued review by the statutory auditor of the Company of the cash position of the Company and its continuity, the Board of Directors has further deliberated in this respect and resolved to inform the market about the reasons why the continuity can, in its opinion, be maintained. The Company therefore wishes to provide the market with an update in relation to its financial situation and possible strategic options In the first half year the Company active in the pioneering market of IoT Internet of Things faced postponed sales and as a consequence important orders shifted to the second half of the year. Through rigorous cash management the Company has been able to keep its cash position under control thanks to the bridge financing as announced on April 21,by accelerating customer payments, by optimizing the supply chain and by further reducing the operational costs. In het eerste halfjaar kreeg het bedrijf dat actief is in de pioniersmarkt van IoT Internet of Things te maken met uitgestelde verkopen, en als gevolg daarvan verschoven belangrijke orders naar de tweede helft van het jaar. Niettemin behouden de partners van het bedrijf hun vooruitzichten voor Hoewel het tweede kwartaal beter was dan het eerste, bleef de omzet voor het eerste halfjaar beduidend onder de eigen verwachtingen van het bedrijf. Door een rigoureus cashmanagement was prime bedrijf in staat om zijn cashpositie onder controle te houden dankzij het overbruggingskrediet zoals eerder bekendgemaakt op 21 aprildoor betalingen van klanten te versnellen, door de supply chain nog te optimaliseren en door de operationele kosten verder te doen dalen. LeuvenBelgium June 16, Option EURONEXT: OPTI; OTC: OPNVYthe company connecting Things to the Cloud, today announced the appointment of Jan Luyckx as Senior Director Finance, effective July 1 st. Luyckx will be responsible for all international financial activities of the Option group, the financial consolidation and reporting of the Company. Jan Luyckx is not new to Option. He held various finance-related roles, including Group Financial Controller and Business Planning Director, at the Company from till After he worked as an interim manager in senior financial and business planning positions for Waterleau Group, Servico part of the Bosch GroupBosch Thermotechnology and CG Power Systems. Earlier in his career he worked for VPK Packaging Group and DAF Trucks. Luyckx is a Master in Economics and Finance with a specialization in finance. Option is niet nieuw voor Jan Luyckx Van tot vervulde hij bij het bedrijf al diverse financieel gerelateerde functies zoals Group Financial Controller en Business Planning Director. LEUVEN Belgium April 21, Following the continued review by the statutory auditor of the Company of the cash position of the Company and its continuity, the Option Board of Directors has further deliberated in this respect and resolved to inform the market about the reasons why the continuity can, in its opinion, be maintained. The Company therefore wishes to provide the market with some additional guidance in relation to its financial situation and possible strategic options. Option has not only significantly invested in the technology platform as such but also in the go-to-market strategy thereof. The uniqueness of the platform has been recognized and the company has signed a number of leading distributors and strategic customers. The take-off of the CloudGate platform in this new market has however proven to be a challenge and was substantially slower than originally anticipated and difficult to forecast. However, given the current view on the sales pipeline and taking into account the overall market potential, the Company remains convinced that the CloudGate platform will gain sufficient traction and sales and thus support its going concern and overall cash position. In addition to the previously announced 2. If and to the extent such scenarios would materialize or certain decisions in this respect would be taken, the Company will forthwith inform the market hereof. It allows you to see incoming messages, phone calls, etc. This firmware updater cannot be run on a MAC running Safari browser. Please use Firefox or Chrome. This firmware updater cannot be used for devices purchased through a network operator. Please contact your network operator for further information. Note: The firmware upgrade process can take up to 20 minutes. Interrupting the process might lead to permanent failure of the device. Note: this update cannot be used with devices purchased through a network operator. Please contact your network operator directly for assistance. This document provides a description of how to configure a print server and a file server connected to the USB port of the GlobeSurfer III. Note: For use in x. Driver is used in Legacy Mode only. Mobile Broadband features is not supported Note: For use in x. For devices purchased through a network operator, please contact your operator for assistance. Mobile Broadband features is not supported Upgrade firmware to version Hd and software to GlobeTrotter Connect for Windows and for MAC OSX This upgrader is designed for Option standard device only. After installation, connection of the Option device can be made through Windows Mobile Broadband instead of using Option connection managers. Important note: This driver CANNOT be installed on any other Microsoft OS than on the Windows If you already have installed the GlobeTrotter Connect, this driver package CANNOT be installed on top. This will create a driver conflict. Verslag van de Commissaris in het kader van artikel en artikel van het Wetboek van Vennootschappen Special Report of the Board of Directors: Bijzonder verslag van de Raad van Bestuur overeenkomstig artikelen en juncto van het Wetboek van Vennootschappen over de uitgifte van Converteerbare Obligaties Download here Corporate Governance Charter Download PDF UK Corporate Governance Charter Download PDF NL The articles of association stipulate that the Board of Directors is composed of a minimum of three and a maximum of nine members, who are appointed by the general shareholders meeting for a maximum period of six years. The Board of Directors has to contain at least three independent directors. Jan Callewaert is referential shareholder of Option. He currently serves as member of the Board and CEO of the Company. Jan Callewaert gained IT experience with Bull where he was product manager for the Dealer Channel. Then, with Ericsson where he was product-marketing manager for Office Automation products, he worked on the integration of hardware and software combining modems, data networks, fibre optics and videotext. Jan Callewaert is a qualified Commercial and Managerial Engineer in Management Informatics and has a Baccalaureat in Philosophy from the University of Leuven. Francis Vanderhoydonck is Master of Law and Economic Sciences and obtained an MBA from New York University. From tohe worked at Generale Bank, where he held a number of positions in the investment banking department. From tohe was responsible for this department. Now, he works with Maple Finance Group, which is specialized in the management of private equity investment funds and corporate finance. He also is director in a number of companies. Jan Vorstermans, 54, has a broad experience in managing technology, service and operations with a strong background in finance, HR, sales and marketing. Till July he was COO at Telenet and member of the Executive team. At Telenet he also held the position of Executive Vice President Technology and Infrastructure. He previously worked for BT Global Services where he was Vice President Networks and Service Operation. Vorstermans is currently Board Member at iMinds, Cable Europe and Cable Europe Labs, amongst others. Dandu is the Founder-Chairman of Danlaw Inc. He is also the Managing Director of Danlaw Technologies India Ltd. He is responsible for strategic planning and corporate management of both companies. Prior to founding Danlaw Inc. Peter Cauwels is managing partner and director at Vermec NV, a family investment fund for ambitious mid-sized companies, and Chairman at Eternal Sun Group, a Dutch manufacturer of solar simulators. Candidates for support are carefully selected following through evaluation of both the ambitions and the technological and innovative qualities of the project. To this end we are committed to a continual improvement in the operating environment of our facilities. This resulted in our offering of environmentally friendly and highly customizable packaging. All product and company names herein may be registered trademarks or trade names Option reports first Half Year results Leuven, Belgium September 1, Option N. However, this trend is changing as after a change in management the focus shifted towards a direct sales model and the Company has now sufficient signed sales orders to be confident to realize increased sales in the second half of the year Throughout the first half of the Company continued to embark on commercializing end-to-end solutions in different business segments Smart Lighting Solutions: through the acquisition of InnoLumis, the Company has a Smart Lighting Solution, generating a vivid interest from numerous cities and municipalities; CloudGate customized solutions: strategic partnerships were signed during the first half of with prime as well as retail partners, with an expectation to substantially increase our CloudGate sales Connected Car Solutions: through the strategic partnership with Danlaw Inc. Jan Callewaert, with the daily management of the Company On May 12,new shares were created as a result of the conversion of convertible bonds The decisions to terminate the demo of FDVV CONSULT BVBA, represented by Mr. Jan Vorstermans permanent representativenon-executive independent director, and Sabine Everaet, non-executive independent director Going concern Given the continued cash drain during the first half ofthe Board continues to work on project and financial funding, and further cost alignment On the day of the publication of this report, the Company has very limited financial means Option, the most recent sales forecasts, based on concrete signed orders, indicate a growth compared to actual realized revenues in the first half of the year. The Company continues the negotiations on the balance sheet restructuring as also the search for new investors at the level of the group or its subsidiaries The Company is working on a long-term solution. The Board has however secured new financial commitments which together with the latest sales outlook should allow the company to fund the next 6 months and secure the short term going concern The latest sales outlook incorporates a growth compared to actual sales realized in the first months; the company is confident it will be able to realize the outlook as it was based on concrete discussions with customers After this period of six months, new financing will be required. Ondanks het feit dat het CloudGate plaform uniek is en geapprecieerd wordt door onze partners, is het bedrijf niet in staat gebleken om met dit platform op een duurzame en voldoende snelle manier omzet te kunnen genereren Om deze situatie aan te pakken is het bedrijf reeds in de 2 de helft van en in ook de weg ingeslagen van de verkoop van end-to-end oplossingen als go-to-market strategie Connected Car Solutions: via haar strategisch partnerhip met Danlaw Inc. Het contract voor het ontwerp en ontwikkeling van een On Board Diagnostics Datalogger OBD voor Danlaw of het werk voor Asea Brown Boveri ABB en Jabil Circuit zijn voorbeelden van de expertise van het bedrijf in engineering services Het bedrijf blijft haar partner kanaal en eindklanten actief op het CloudGate platform ondersteunen door end-to-end toepassingen die door haar partners werden ontwikkeld te selecteren met de bedoeling om deze ook via Option te gaan verkopen De Raad van Bestuur heeft beslist met onmiddellijke ingang een einde te stellen aan het mandaat van de CEO, Frank Deschuytere. Venn Bijzonder verslag van de Raad van Bestuur overeenkomstig artikel W. There is a public demo of Smiths Micro application in the Open Mobile Alliance partner event on Wednesday, 26 Februaryat h, in Hall Theatre District DCN or DeviceCloudNetworks will have a demo set up with CloudGate using IP based Wi-Fi cameras as the end point. Of course, more advanced alarm services can now be offered, such as real-time visuals and updates when your children get home from school Design smart from start The key to success is to build in a flexible approach in the offering to enable constant fine tuning. Building in security features, optimized for wireless communication is getting increasingly important and an aspect you should pay full attention to right from start Managed operations Operating connected services across different regions and technologies is increasingly complex and requires end-to-end know-how to prime the best end-user experience. The devices are also available by calling within North America ; or please find your local sales engineer worldwide at Local Sales Support Option reports first Half Year results Leuven, Belgium September 1, Option N. This compares to a net result of EUR million or EUR per basic and diluted share during During2,116,782 new shares we created as the result of the conversion of convertible bonds BUSINESS UPDATE Whereas CloudGate remains a building block of projects and solutions, the full year results indicate that the expected pick-up of CloudGate sales did not materialize. Although the CloudGate platform is unique and appreciated by our partners, the Company has not been able to monetize the platform in a sustainable way fast enough To option this situation, the Company since the second half of and through additionally embarked on the go-to-market strategy of commercializing end-to-end solutions Connected Car Solutions: through the strategic partnership with Danlaw Inc. Several option application development projects for US Robotics for out of band management, smart housing applications for Asea Brown Boveri ABB have been finalized and a rail-certified WIFI access point for general deployment in trains, trams and busses has been developed To further lower the barriers to M2M application development for our customers and to decrease the time from concept to working M2M solution, Luvit-RED was developed. Their job is to bring localized solutions and support to channel partners In the second half of the year the Company expects significant stock replenishment orders from its partners in North America. These discussions have been accelerated and are anticipated to be completed in the second half of to stabilize its current financial position to ensure its ability to successfully pursue and maximize its potential in the Internet of Things market. On 26 May the Board co-opted Jurgen Ingels as director in replacement of Olivier Lefebvre as independent director. Jurgen Ingels is founding and managing partner of Smartfin Capital, a European Private Equity fund investing in Smart Technology growth companies. Previously, he was the founder and CFO of Clear2Pay, a leading payments technology company. Dimitri Duffeleer, as was decided by the board of directors dated 24 September provisionally by way of co-optation. Francis Vanderhoydonck, as non-executive director of the company. Nochtans behouden de verkoopspartners van de vennootschap hun vooruitzichten voor Nog option is dat in de laatste maanden belangrijke vooruitgang werd geboekt op verschillende fronten De belangrijkste doelstelling was om het aantal applicaties die op CloudGate draaien te verhogen. Tevens werd een oplossing ontwikkeld voor mobiele WIFI toegang, met certificatie voor gebruik in treinen en toepasbaar demo treinen, trams en bussen Om de ontwikkeling van M2M applicaties voor onze klanten verder te vereenvoudigen en om de tijd van concept naar werkende M2M oplossing in te korten, werd LuvitRed ontwikkeld. Hierdoor kunnen we meer gelokaliseerde oplossingen realiseren en de lokale support voor onze klanten verbeteren In de tweede helft van het jaar verwacht de vennootschap significante stock opvolgorders uit Noord-Amerika. Jurgen Ingels is de stichtende en managing partner van Smartfin Capital, een Europees Private Equity Fonds dat investeert in groeibedrijven actief binnen het veld van Smart Technology. Eerder was hij ook al de oprichter en CFO van Clear2Pay, een belangrijke speler op het vlak van betalingstechnologie. De algemene vergadering van 29 mei heeft bovendien beslist om bestuurder FVDH Beheer BVBA, vast vertegenwoordigd door de heer Francis Vanderhoydonck, te herbenoemen als niet-uitvoerend onafhankelijk bestuurder. Het mandaat van FVDH Beheer BVBA als bestuurder eindigt na de algemene vergadering die zal uitgenodigd worden om de jaarrekening over boekjaar goed te keuren. Op 26 juni heeft de buitengewone algemene vergadering beslist om het toegestaan kapitaal te vernieuwen voor een totaal bedrag gelijk aan vier miljoen zevenhonderd achtendertig duizend negenhonderd vierenzestig euro vijftig cent EUR ,50zowel door middel van inbrengen in geld of in natura binnen de door het Wetboek van vennootschappen toegestane grenzen als door omzetting van reserves en uitgiftepremies, met of zonder uitgifte van nieuwe aandelen, met of zonder stemrecht, of door uitgifte van al dan niet achtergestelde converteerbare obligaties, of door uitgifte van warrants of van obligaties waaraan warrants of andere roerende waarden zijn verbonden, of van andere effecten, zoals aandelen in het kader van een Stock Option Plan. Bovendien heeft diezelfde buitengewone algemene vergadering beslist om de raad van bestuur bijzonder te machtigen om, ingeval van openbaar overnamebod op effecten uitgegeven door de vennootschap gedurende een periode van drie jaar die loopt vanaf de buitengewone algemene vergadering die tot deze machtiging zal besluiten, over te gaan tot kapitaalverhogingen in de voorwaarden voorzien door het Wetboek van vennootschappen. However, given the current view on the sales pipeline and taking into account the overall market potential, the Company remains convinced that the CloudGate platform will gain sufficient traction and sales and thus support its going concern and overall cash position In addition to the previously announced 2. Please contact your network operator for further information GlobeSurfer X. Mobile Broadband features is not supported Windows driver package Windows 7 Legacy Mode certified drivers Note: For use in x. For devices purchased through a network operator, please contact your operator for assistance Driver package Windows 7 Legacy Mode certified drivers Note: For use in x. After installation, connection of the Option device can be made through Windows Mobile Broadband instead of using Option connection managers Important note: This driver CANNOT be installed on any other Microsoft OS than on the Windows If you already have installed the GlobeTrotter Connect, this driver package CANNOT be installed on top. This will create a driver conflict Driver package Windows 7 Legacy Mode certified drivers Note: For use in x. Jan Callewaert is a qualified Commercial and Managerial Engineer in Management Informatics and has a Baccalaureat in Philosophy from the University of Leuven Francis Vanderhoydonck Mr. He also is director in a number of companies Jan Vorstermans Mr. Vorstermans is currently Board Member at iMinds, Cable Europe and Cable Europe Labs, amongst others Raju Dandu Mr.
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It is true that the REST concepts are repeated throughout the book but I think that was by design.