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Shake before news... time to load up on the cheapies guys, it's all about to happen here imo
very interesting with the BBC affiliation. PINN were contracted by the BBC at the 2012 Olympics from memory so could well be a link there? very interesting and she's going to be here for a specific job imo Could well be news of significance here very soon. 12p target according to Zak mir
rns from mxcp MXC, the technology focused merchant bank, today announces the appointment of Meriel Lenfestey as a further Non Executive Director to strengthen the Board of the Company. Meriel is an experienced Director with directly relevant experience in both technology and investment with more than 17 years' experience at Board level. Meriel has worked at Microsoft and the BBC before becoming a successful entrepreneur. Meriel is currently a strategic adviser to Jersey Telecom and a non-executive Director of JVM PCC a Microsoft Ventures backed early stage technology fund. Peter Rigg Chairman of MXC said: "We are delighted to welcome Meriel to the Board of MXC. I believe her mix of skills across technology and investment combined with her entrepreneurial spirit will be an excellent fit with the Company." This could be of significance to PINN: Things are starting to get interesting and now approx 8 months under the guidance of MXCP PINN will be ready to start and move.
As suspected this is starting to move up on anticipation of news. 12p target based on the charts and Zak mir fancies a re-test of the recent highs. If we get news at any point during the re-test it will push us up and through all previous highs very quickly. Can't go wrong at these levels imo.
Had a look and it all looks very possible but atm the it going nice and steady and that's for the good of all holders. Once news comes a more significant rise will be easier to maintain and maybe even get back to the glory days of 20-25p if MXCP can weave their magic wand here the same as they done with CTP.
to retest 12p: Shareprofits have it on video blog. A very nice bit of profit to be had from these levels to the 12p level. Imo news will increase that further but 12p is a nice target. Security is in focus after Talk Talk security breach and that will have a knock on affect for companies like PINN with customers looking to beef up security. PINN is at the bottom and can only benefit from this.
this morning. Hoping to see this continue as we progress through the week and in to news flow
Should see a continuation of the volume and rise from last week and hopefully news this week to move us on. MXCP appear to have tied up business with CTP and they will now do their own thing so attention can be focused on PINN.
Very pleased with this and now looking to get back to testing higher highs. have a good one ..erm... just me here then? OK, well, I'll have a good one and I'll see me next week.
Looking strong and 10p is on the cards.
Double bottom tested and bounced back up from 7% down to flat and looking like going on a run.
A lot of progress made since then. Holders could well be in for a good return as news contracts will have been driving pinn forth with gusto.
Pinnacle Technology, the IT managed services group under new management since last year, has more than halved its first-half loss to £520,000. It has also appointed as a non-executive Simon Duckworth, who has sat on the boards of investment trusts and AIM-listed companies and is the senior non-executive at the Serious Fraud Office. Revenues were down from £4.26million to £3.99m while recurring revenues held up at 87.6 per cent which the group said offered "a strong base for future growth". Pinnacle strengthened its balance sheet during the period raising £560,000 and it signed a partnership deal with O2. In April its shares rallied 30 per cent on a further fundraising worth £860,000. The last full year loss fell from £2.44m to £1.95m under chief executive Nicholas Scallan who arrived in March 2014. The shares were unchanged at 7p.
http://www.simonduckworth.london/index.html It all points to security for PINN
No problems in terms of cash, they have cash and they have the support of MXCP. The deals will come!!
Also since then two new contracts have been won which will be proving up the bottom line. It all adds to the story and assists with the outlined strategy of now being in acquisition mode. First news of any acquisition and this will be double figures.
the leaner, more focused organisation will return to profitable revenue growth is a very telling statement and whilst that was based on figures from 7 months ago the latest state of affairs will be very different and that will filter through to the next set of results which imo will be transformational. Two existing institutional investors bought even more stock supporting what the new team at PINN are doing. A huge vote of confidence.
The figures and debt reduction from 7 months ago: Operational Highlights • Revenues of £3.99m for the six month period (H1-2014: £4.26m) • Recurring revenues remain high at 87.6% providing a strong base for future growth (H1-2014: 88.1%) • Gross profit percentage maintained at 31.2% (H1-2014: 29.8%). • Adjusted EBITDA losses of -£0.23m (H1-2014: -£0.27m), representing a decrease of 13%. • Loss for the period of -£0.52m (H1-2014 loss of £1.10m), representing a 52% reduction. • Balance sheet strengthened with placing of new shares and open offer raising £0.56 million (before expenses) during the period. • Further strengthened post period end with the placing of new shares at a 16% premium to the mid-market price on 27th April 2015, raising £0.86million before expenses. Commenting on the results, Nicholas Scallan, the Pinnacle CEO stated: "Over the last year we have seen progress in returning the business to health with a much better defined focus, costs reduced and transformational projects underway. We are proud of our recent customer successes and product developments to support the business. We said it would take time to turn the business around, as seen by these results, but we remain confident that the leaner, more focussed organisation will return to profitable revenue growth. This confidence is further supported by the recent funding round that considerably strengthens the Company's balance sheet, with the substantial investment from two of the company's existing institutional shareholders".
over on MXCP and could well be something about to happen there. It could be PINN or CTP related.
Wrong board.
Spot on imo. Wait till the first announcement of a material contract from Capita. It will come and it will blow us out the water from these levels.
Very exciting indeed. If I'm honest, I'm looking forward to next week to get all the ducks that we've lined up blasted into orbit!!! Some big news items to come over the coming weeks and we will only go from strength to strength off the back them.
The 02 contract win and the Baxters contract win will be adding to the bottom line here and I expect further wins in the near future. This is a core investment from the MXCP stable and there is now way they will allow this to remain with a £4 mill Mcap for much longer. Simon Duckworth was not put on the BOD to oversee the square route of nothing was he :))
Pinnacle Technology Group has created a new centre of O2 sales excellence which it believes will strengthen its mobile and digital communications offering. The IT and communications service provider – which has offices in Glasgow, Stoke-on-Trent and Northampton – announced its exclusive digital partnership with leading mobile provider O2 earlier this year. Pinnacle was appointed a partner to provide tailored business to business mobile and security solutions and assist O2 in enlarging its digital capability. In taking the new products to market, Pinnacle has developed its sales operations through the recruitment of an experienced and fully accredited O2 team that it expects will further enhance its position as a front runner in digital strategy. The five-strong team, all based in Pinnacle’s Glasgow office, will drive the delivery of innovative and efficient mobile solutions for business, from SIM-only to full mobility offerings, including tailored tariffs and contracts. It will also be highlighting the wide benefits of its in-depth business apps offering, helping organisations to work smarter, faster, and more efficiently - including collaborative working tool Box, Windows Intune for the easy enablement of BYOD with mobile device management, and Just Call Me for cost-effective conference calling anytime, anywhere. In servicing Pinnacle’s client base, the team is able to draw on 35 years of combined experience, opening up exciting new opportunities to the business. While the focus is on O2, the team is also accredited in the likes of McAfee internet security and Office 365 online business software, ensuring fully integrated solutions. Through its O2 partnership, Pinnacle is able to further provide wide digital benefits for business, enhancing smart working, promoting business growth, and increasing the customer experience. Pinnacle Technology offers a wide range of Managed IT Services, IT Security, Connectivity, Mobile, Telephony and Infrastructure services. It focuses on providing the latest cloud and on-premise technologies which are provided as an integrated offering to the SME market and more broadly to the mid-market and public sector. Pinnacle Technology Group CEO Nicholas Scallan, said: “With technology helping us to achieve more on the move and the concept of ‘the office’ being an increasingly fluid one, work is no longer somewhere we go; it’s something we do. “Effective mobile communications across a variety of devices is key to smart working, and what we have created as part of our partnership with O2 will enable us to deliver the best, most effective solutions for each business, ensuring higher productivity, enhancing the customer experience, and realising a significant competitive advantage. “It’s also an exciting step forward for Pinnacle as we continue to make progress towards selectively enlarging our integrated offering and, in turn, meaningfully develop
Again from the end of March so 7 months progress since that date: CHAIRMAN'S STATEMENT These results reflect the work- in-progress status of the Pinnacle Technology turnaround, as the various measures put in place to return the business to profitable revenue growth, reduce costs and sharpen the focus of the business take effect. **** And this next paragraph is the where you ought to be looking and remember at this point in time the company is cash positive and able to fund an acquisition: **** However, given the progress that has been made, as detailed below and as outlined in the circular to shareholders dated 28th April 2015, the Board is now of the view that the time is right to consider reviewing acquisition opportunities that will take advantage of the underlying capabilities of the Group, as well as the highly fragmented and regionalised market in which the Group operates. The Board was pleased to appoint MXC Capital Advisory LLP to assist with this process, and to also receive significant shareholder support at the General Meeting of 14th May 2015 at which shareholders voted to approve the placing of new shares in the company, raising £0.86million before expenses for the Group, at a 16 per cent. premium to the prior closing mid-market share price on 27th April 2015. With the opportunities available to Pinnacle Technology and the early signs of progress coming from the initiatives being undertaken to return the business to health, albeit noting that further time and efforts are still required to restructure the Group into the appropriate form for its operations, the Board remains increasingly confident about the future prospects of the Company. As we continue this journey, we would like to recognise the support and contribution of all of our customers, suppliers, shareholders and particularly our staff in helping us achieve positive change.