Following the opening of an office in Amsterdam earlier this year, the Group plans to launch its operations in France and in the Netherlands early in 1996. Cliff Stanford has over 15 years experience as a pioneering programmer for Internet related services. We believe that the next five years will be very exciting for Demon. Independent commentators believe that the total Internet subscriber base will grow by 200-300 per cent per year during that period. This stock issue will ensure that Demon wil play a leading role in the worldwide provider market and reap the rewards of our strong position in the Internet market.
Technical support is provided free and there are no additional on-line costs.
Initially, the Group was re-selling services provided by Pipex and UKNet and was operating with one computer and eight telephone lines. Subscribers wishing to access the Internet then dialled Demon's computer for the price of a UK national call, the cost of which depended on the distance between the subscriber and the computer as well as the length of time spent accessing the Internet. Additional PoPs were subsequently established and by the end of 1994 the Group had 7 PoPs providing local call rate access across the UK, with some 300 telephone lines from its facility in North London. In April 1993, as demand for dial-up services increased, Demon installed the first of its dedicated transatlantic links, thus transforming Demon into an Internet provider in its own right. Demon expects to achieve 100 per cent coverage of the UK by the end of November 1995.