The chart is worth a look, If they go past 30p resistance level, may consider again, will look to jump in. after that who knows,

the company is set to make announcement for march 31st - yr end..

24/27 +2p at close.

JULES.

Extraordinary General Meeting

NEAR THE END YOU WILL FIND:

The Circular contains a notice convening the Extraordinary General Meeting, to
be held at 10.15 a.m. on 16 September 2003 (or, if later, following the
conclusion or adjournment of the Annual General Meeting) to consider an ordinary resolution seeking the approval of the waiver by the Panel of any requirement under the City Code for the members of the Concert Party or any of them to make a general offer to the Independent Shareholders as a result of conversion of the Loan Notes and/or the Director's Loan and Former Directors' Loans and to seek the necessary authorities and disapplications under the Act to permit the Board to allot the New Ordinary Shares arising upon such conversion.

rns issued by company this morning confirmed that agm to be followed by egm is to take place on 16 sept 2003.

cOMPANY NEWS TODAY i WILL POST A BIT LATER..

:-)))))))))))

GOOD NEWS AT LAST...!!!

AIT reschedules debt payments
AFX
It also hopes to ensure convertible loan note holders are not obliged to bid for group

AIT Group PLC said its financial position has been boosted by rescheduling significant debt obligations to the Bank and to IMA. AIT shares rose 0.6% to 79p.

It also announced today that it is seeking a waiver to takeover rules so the concert party receiving convertible loan notes in the group's 5 mln stg fundraising, as announced on June 25, is not obliged to make a mandatory bid for the company.

The holding of the Concert Party receiving convertible loan notes under the issue currently represents approximately 41.2 pct of the issued share capital of the company. Following conversion of the loan notes and the director's loan and former directors' loans, the concert party will together hold approximately 51.3 pct of the fully diluted issued share capital of the company.

The issue of convertible loan notes was announced on June 25 in order to raise funds for the group to strengthen its balance sheet and to provide additional working capital.

The bank has agreed to provide the company with further financial assistance by deferring 1.125 mln stg of scheduled term loan capital repayments previously falling due in financial year 2004. The Bank has further agreed to provide a standby working capital facility of 0.5 mln.

As a result of this revision to the company's banking facility, the 1.125 mln stg of bank debt shown in the 2003 balance sheet as falling due within one year will no longer become payable during the 2004 financial year.

In addition, IMA has agreed to waive 157,500 usd of interest payable on the outstanding IMA Note and to defer the IMA Note capital repayment schedule by six months so that the capital of the IMA Note now becomes repayable in 10 quarterly installments commencing during January 2006.

In addition, the company has agreed with director Richard Hicks and former directors Garfield Collins and Carl Rigby, that in consideration of the release of the company's obligation to repay the outstanding loans of 796,298 stg owed to them by the company, they would be allotted in aggregate 1,061,730 new ordinary shares.

An EGM will be held on Sept 16 to approve this share issue and the conversion of the loan notes into new ordinary shares.

AIT also updated on trading today. It said that, with the revenue base now stabilised and costs reduced significantly to reflect the changed circumstances of the company and the general trading environment, the company now has a solid foundation for the continued implementation of the turnaround plan.

The objective of the next stage of the turnaround plan includes the stabilisation of AIT to demonstrate that the business is under strict financial control and is profitable.

'This stage began at the start of the current financial year and is expected to last for twelve to eighteen months.'

The company said it is now actively pursuing the development of the business in order to
become a leading player in its market sectors. The directors plan to achieve this by exploiting the clear technical lead of AIT's Portrait product and through the expansion of the company's international sales capability through direct and partner channels.

The directors' objective in the third stage of the company's turnaround plan is to return AIT to the type of growth and profitability experienced during the first fifteen years of the company's existence.

The Concert Party subscribing for the company's Loan Notes includes Bessemer Investors and Stavco Arbitrage Group LLC, the Arbib Family Interests, Nicholas Randall, Trustees of the NJ Randall Settlement 2001, Trustees of the NJS Randall Accumulation and Maintenance Settlement, Richard Hicks and Geoffrey Probert.

AIT BUYERS COMING BACK... AND ON THE RISE...!

MM's will have plenty to laugh about last few days...

if it breaks past the 80p mark today, then my target of 1.00-1.20 stands for next week...

jules.

Funny haven't seen this in AIT for long time...MM's buying stock to make the price go up agin...10,000 went through at 75p..!

In the past 3 weeks MM's were selling... to lure punters into selling..

Interesting stuff...

AGM...Sept 16th not too far away in the distance...May be time to jump in again..however already holding from 74p and bought some again at 66P...Friday was a good day from a buying point, hopefully the selling is over now and the buying starts to roll again...will have to see tomorrow...

80p+ target remains in tact so far...

at last 80p again...considering they fell to 67p last week.

once into the 80p+ territory then the fun begins...im confident the 1.00 target will be broken.

patience is a virtue..

With AGM on the 16th of Sept - AIT has recovered again, was 67p last week...

This morning 77-82p +1p - about to break out I suspect..

Good Luck to all who held their nerves....not an easy one to hold by the reigns...

Good news is AIT GROUP is determined to put the past in the hatchett...and managment looking to make all necessary steps to make it the great Growth company success story...



DYOR...says Jules99.

j