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www.investegate.co.uk/Article.aspx?id=201001290700113177G
18 December 2009 SPIRITEL PLC ("SpiriTel" or "the Company") FUNDRAISING Further to the announcement of 3 November, SpiriTel plc, (AIM:STP), the business communications service provider, is pleased to announce that it has now raised the total of P10million by way of convertible loan notes. The initial amount raised was P9.2million. The loan notes are convertible at 40p per ordinary share with a 10 per cent yield and are repayable at the Company's option, no later than November 2014, with a 20 per cent redemption premium. The additional funds have come from a variety of new investors and include participation from Alastair Mills, Ronnie Smith, Lord St John of Bletso and Steven Scott. The interests of the Directors following this participation (including loan notes held by their spouses) are as follows:
Headline information: Overall sales and profits - £19.7m+ Gross Profit £7.6m (38.5%) - arising from 2337 customers - yet you read in P8, 2300 are classified as SME and 700 were acquired with the purchase of EDC. That means Spiritel only has 37 large corporate accounts and its whole business is concentrated in the small corporate sector which is still in deep trouble. Does anyone know what Spiritel bad debt write-off or % debtor book is?
Saw earlier comment "The new funds will be used to allow the Company to continue its successful acquisition strategy as a consolidator of the highly fragmented telecoms reseller sector." Sector not fragmented, it has been consolidated by manufacturer and reseller integration. Daily news confirms this, hence advising to sell. T-Mobile / Orange / Nortel / Avaya / Vodafone / new technology initiatives like M2M seem to suggest differently. Spiritel are trying to secure acquisitions, no doubt we will see some news by Jan 31st, "throwing enough mud so some will surely stick" to source acquisition targets. £1m seems to be the going rate with an earn out, then in the second line suggesting in the PR release it may not have to be paid ( so the company will not achieve the value expected - why buy?) Good luck to those with stock, I hope your wait is not in years
per day - nice and slowly
See ADVFN BB. TARA*S TEN FOR 2010. Looking good, have some fun with this stock.
thread timed at 19.48 link for BUY recomend!!!!!!!!!!! GL all ShaunC DYORamping(TM)
SpiriTel plc, (AIM:STP), the business communications service provider, is pleased to announce the issue of up to £10 million loan notes and the acquisition of Edge Solutions Ltd ("Edge"), for an initial consideration of £3.6 million. The new funds will be used to allow the Company to continue its successful acquisition strategy as a consolidator of the highly fragmented telecoms reseller sector. And still the SP Drops !
undoubtedly a common theme with many campanies in the wake of the collapse, this along with dilution seem favourable ways to attract bigger investors and make the company more marketable at a more attractive price. From my experience over the last few months it has little to offer in terms of sustainable gain in the SP though but I hope I am proved wrong!
seems like a trend now a days
shows new holding but no price
I use Iweb and still locked and showing the old price
88.1p new money - thankfully with only a small punt must have been under the influence when i bought ShaunC
Thanks for the update - to be honest I have had a load of these shares for years and have given up on making a profit from them ! Be happy to get anywhere near being back in the black !
he could probably sell it today for you Through your PC - no chance When they do these consolidations i have quite often seen the price drift lower still - until further good news GL ShaunC DYORampning(TM) PS 1-for-100 concolidation
Presume stock to frozen and cant be sold until they release it again ? Sorry but new at this !
Yep Share consolidation
what just happened
Started to climb yesterday and thought for once this was on the up as it held steady all day - once again disappointed - fall again this morning - any idea why?
Therefore, following the completion of the Capital Reorganisation, for every 100 Existing Shares currently held, a Shareholder will receive one New Ordinary Share of 1 p each and 99 Deferred Shares of 1 p each credited as fully paid. The Deferred Shares will have no voting rights or rights to receive a dividend
Stock Consolidation
Im not sure if anybody else is in this but I am sure that you would have seen all the talk on the regular board. The general thought is that there will be some news in the morn, may well be worth a few shares in the morn if your not already in. That is if we all arnt down the car dealers ordering the new motor from the profits on WET!!!! ITF
A company share on which dividend payments can be deferred until a later date. If this happens, the deferred payments take priority over any dividends on lower ranked shares until they have been paid - this is what I think. Though I wasn't personally expecting any dividends from these shares but I was definitely looking for a rise in the SP. STP needs to win some contract and come up with a RNS which would hopefully increase the SP. The company has steered through the worst time and its now just a matter of time till some good news comes up.
Just had notification of def shares ! Not an expert in fact I an a beginner but from what I read this doesnt look good! I bought alot of these a few years ago and just lost and lost now they are worth next to nothing and MAY get deferred! Can any one clarify what this means to the lay man ????
would be nice within the next 6mths GLShaunC