Aquilo announced it is to seek entry into AIM, and said entry and further fundraising would allow further expansion of the business.
It said following a year of consolidation on claims management and advisory services, the company would now begin an aggressive expansion plan with the aim of achieving a £50m market capitalisation by the end of 2006.
Aquilo also announced a loss for 2003, which it said would be bigger than previously expected. It said the loss was due to the restructuring of the business, dealing with past liabilities and refocusing the business on operational claims management and advisory services.
In directorate changes, Clive Nicholls, former chief executive of GAB Robins, has been appointed as chief executive. The company said Mike Eve would remain actively involved in the group as a director and adviser.
Chairman Kevin Keasey said groundwork had now been completed to ensure rapid growth for the company during 2004 and beyond.
