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Posts: 12,284
[PINN] STRONG BUY recommendation after large BUY order executed @ a strong 23p/share. Upbeat trading statement due from the Board along with available funds for expension both organic and by acquisitions.
Posts: 12,284
[PINN] A further STRONG BUY opinion after a 60,000 share trade @ 23p/share reported. News on available funding for organic and acquisition growth is expected along with a pre close trading update which is well overdue.
Posts: 12,284
[PINN] Already having had its first attack at capturing the whole of the issued share cap rebuffed [COMS] may not have abandoned its chances in snapping up [PINN] for a song. A statement from [COMS] recently extracted from [COMS] recently announced 16 October's secondary fund raising news inter alia "....A key consideration in the Board's decision to progress any of these potential transactions will be that any acquisition should be earnings enhancing. Taking into account the net proceeds of the Placing of c.£4.8 million and the net cash balance of c.£3.1million (as at 16 October 2013), the Board believes that the Company will be well placed to pursue these opportunities....." Someone has sufficient available funds to launch a sustained purchses of [PINN]'s shares.
Posts: 12,284
[PINN] Refresher!http://www.prepaidmvno.com/2013/08/23/pinnacle-technology-signs-mvno-deal-gamma/ http://www.gamma.co.uk/news-and-events/news
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[PINN] MXC Capital Limited, http://www.mxccapital.com/about-us/, is beneficially interested in a total of 1,197,778 ordinary shares of 0.1p each ("Ordinary Shares") in the Company, which represents approximately 3.66 per cent of the issued share capital of the Company. In accordance with the FCA's Disclosure and Transparency Rules, Pinnacle advises that the issued share capital of the Company is 32,725,855 ordinary shares with voting rights. The Company does not hold any shares in Treasury. The above figure of 32,725,855 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules. Pinnacle Technology Group plc (AIM: PINN) focuses on the business market across the UK. We provide a wide range of converged managed solutions including Managed Support Services, Unified Communications and Collaboration, IT Security, Communications and Mobility, Software as a Service (SaaS) and Infrastructure services. Broad experience, innovation and impartial expertise puts Pinnacle in best place to design and deliver cost effective new technology solutions for its customers. Pinnacle work with some of the most prestigious organisations in the UK, who rely on us to deliver robust technical solutions that deliver value. Pinnacle is a fully licensed Public Telephone Operator, has its own telephone network and interconnects with BT, Vodafone, Talk Talk Business and Virgin Media. It has its own hosted voice (VoIP) platforms and engineers and owns Scotland's oldest ISP and a founder member of Nominet, operating from its data centres in Glasgow, Edinburgh and London.
Posts: 12,284
Posts: 12,284
[PINN] Trading Statement and Management Change The Board has now reviewed the management accounts for the year ended 30 September 2013 and today issues the following trading update. As signalled in the interim announcement on 06 June 2013, revenue for the year ended 30 September 2013 is lower than in the previous year, at approximately £10.1m (2012 £12.7m). This result, whilst disappointing, relates in large part to poor performance from the previous acquisition of RMS IT Security and the lack of any major UK high-profile events in the period (compared to the Queen's Diamond Jubilee celebrations and the London Olympic Games contracts, which were delivered in the year ended 30 September 2012). In consequence, both EBITDA and Pre-tax loss when finalised, will show a significant deterioration on the figures for the previous year (2012 adjusted EBITDA £284,554; 2012 Loss before tax (£1,115,558)). It should be noted however, that following the announcement of the Interim Results to 30 March 2013, the Board embarked on a strategic review of the Group and has taken robust actions to reduce on-going costs in recent months. As a result, the Group is now trading close to EBITDA breakeven on a monthly basis. Commenting on the trading update and announcing his intention to seek a successor, Alan J Bonner, the Pinnacle Chief Executive, said :- "I am pleased to report that the Group is now trading close to EBITDA breakeven on a monthly basis. However, I have decided that after 15 years since I started Pinnacle, the time is now right to seek my successor. I am hopeful that we can soon appoint a new Chief Executive who will help us achieve our objectives and I look forward to ensuring a smooth transition in the best interests of our customers, staff and all other stakeholders" The Company expects to make a Preliminary announcement for its full year results to 30 September 2013, in February 2014. Any further announcements regarding the appointment of Mr Bonner's successor as Chief Executive, will be made in due course. This company looks like it will now be in control of the corporate advisers with a fresh round of fundraising in the pipeline in order to shore up the leaky balance sheet, profit and loss, and raise sufficient funding either to seek acquisitions, contracts,working capital and or perhaps defend itself from a takeover suitor and also to recover its reputation but this is all my opinion of course as that is the main purpose of a listed company, access to the equity market.
Posts: 12,284
[PINN] [COMS] Pinnacle Board has in the past rebuffed an "unsolicited and opportunistic" approach to buy the outstanding shares at 21p each. In hindsight that was a good offer at that time in view of the recent share price performance. Could [PINN] be in [COMS]' sights again. If this statement by [COMS]'s Board targets [PINN] then Mr Bonner will be obliged to put out a statement in reply. The Board of Coms (AIM: COMS) notes the recent strong rise in the Company's share price, following the trading update released on 23 January 2014, and confirms that it is not aware of any specific reason for such a movement. The Board can confirm, however, that it is currently in advanced discussions regarding a potential acquisition ("Acquisition") albeit there can be no certainty as to whether the Acquisition will proceed. The potential acquisition is opportunistic but should it proceed it will enhance the Company's cloud based services which in the Board's view will likely place Coms as one of the leading businesses in this sector. In the event that the Acquisition proceeds, the Company will need to raise additional funds and is currently working with its advisers on this matter. As ever, the Board is focused on maximising shareholder value as it continues to grow the Company over the coming years. Dave Breith, CEO states "The potential deal that we have been presented with is an ideal fit for Coms. I hope I have demonstrated in my time at Coms I have always acted in the right interests of the Company and shareholders and I will continue to do so" Further announcements will be made in due course.
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[PINN] How prophetic! "Timing. The timing of the sell off this session is interesting in as much as it happened ahead of imminent trading numbers to year end 30/9/13 being announced within the next two weeks. PINN was a prospective takeover target by COMS. With COMS announcing that it has a takeover war chest and is "in discussions with a cloud based company" PINN has not yet scotched any on-going rumours connecting COMS with a potential PINN target we will be left to assume PINN is not on the COMS target list. PINN is keeping close counsel as to rumours regarding PINN's future and prospects which is a pity as some calm is needed to quell the volatility in the share price." PS "The Market has delivered its verdict on PINN in a robust and ruthless response to the lack of positive news and a marked sell off in PINN shares this session. With the "cloud" sector rife with takeover talks it looks like PINN is going to be the bridesmaid. There are still robust positive commentary in certain PINN chat forums but alas falling on deaf ears for now. Dors PINN remain a "strong buy" on fundamentals?"
Posts: 12,284
[PINN] Ian Scott reduces holding. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11860636
Posts: 12,284
[PINN] No surprises here ! Looks like PINN business as usual. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11867496 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11867557 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11870018
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[PINN] Ex boss of Next and JJB Sports increases stake, Sir David Jones CBE, to 1.6m Mns over 3% of the issued share cap ("isc").
Posts: 12,284
Posts: 12,284
[PINN] The Company was notified yesterday that on 18th March 2014, Nicholas Scallan, Chief Executive Officer Designate, sold 96,009 ordinary shares of £0.01 each ("Ordinary Shares") in the Company at 12 pence per share and subsequently bought back 95,169 ordinary shares for the benefit of his ISA account at 12.031 pence per share. Following this transaction, Nicholas Scallan's total interest in the issued share capital of the Company is now 101,725 Ordinary Shares representing 0.27% of the issued share capital of the Company All Company announcements can be found at: www.pinn.uk.com
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[PINN] http://www.pinn.uk.com/assets/files/financial_reports/Pinnacle_Report_and_Accounts_2013.pdf
Posts: 12,284
Posts: 12,284
[PINN] is entering in to a non-exclusive relationship with Easynet Ltd ( http://www.easynet.com/gb/en/contact-us/ ) for the purpose of transforming and enhancing part of Pinnacle's legacy network estate. Drawing on the strength, size and capacity of Easynet's carrier integration network and a resource base of world class engineering expertise, Pinnacle will now be able to tailor enhanced, secure connectivity solutions for any size of customer in multiple market segments. Pinnacle's operations and engineering teams will work closely together to consolidate business processes as part of phased transformation and migration of the organisation's legacy network. Pinnacle's customers will benefit from a 'one stop shop' approach to enhanced, high performance connectivity access solutions with better speeds, choice and enhanced customer service. The arrangement is primarily a cost reduction activity; however there will be additional up-sell opportunities available in certain geographies as a result of the arrangement. In 2013 Easynet Ltd was acquired by MDNX Ltd, a leading independent integrator providing critical managed networks and cloud computing infrastructure to major UK enterprise, local government and channel partners. The arrangement is expected to significantly improve Pinnacle's access network cost base, with the benefit starting to materialise in the second half of the 2014/2015 financial year. All company announcements can be found at www.pinn.uk.com
Posts: 12,284
[PINN] The Company was notified today that James Dodd, Chairman and Non-Executive Director, bought 80,000 ordinary shares of £0.01 each ("Ordinary Shares") in the Company at an average price of 6.45 pence per share. Following this transaction, James Dodd's total interest in the issued share capital of the Company is now 3,161,538 Ordinary Shares representing 6.87% of the issued share capital of the Company. The Company was also notified yesterday that Tom Black, Non-Executive Director, bought 78,939 ordinary shares of £0.01 each ("Ordinary Shares") in the Company at an average price of 6.225 pence per share. Following this transaction, Tom Black's total interest in the issued share capital of the Company is now 3,765,137 Ordinary Shares representing 8.18% of the issued share capital of the Company. The Company was also notified yesterday that Nicholas Scallan, CEO, bought 16,129 ordinary shares of £0.01 each ("Ordinary Shares") in the Company at an average price of 6.2 pence per share. Following this transaction, Nicholas Scallan's total interest in the issued share capital of the Company is now 531,000 Ordinary Shares representing 1.15% of the issued share capital of the Company.
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[PINN] Mobile digital services offering Pinnacle notes recent speculation and confirms that it is in discussions with O2 and other providers of mobile services regarding the ongoing provision of the Company's mobile and digital services offering. The Company currently provides mobile services from O2, EE, Vodafone and Gamma. Further announcements will be made in due course when appropriate.
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[PINN] announce that is has entered into a partnership agreement with O2, part of Telefonica (UK) Limited, enabling the Company to provide O2's mobile, digital and accredited public sector solution services to Pinnacle's client base. As part of the agreement, Pinnacle will be joining the exclusive category of O2's direct partner network and receive commercially advantageous terms. The deal builds on the existing relationship between Pinnacle and O2 whereby, as an accredited supplier of mobile telephony solutions for O2, Pinnacle offers a wide range of flexible tariffs and contracts, with a variety of package options available. This new agreement means that Pinnacle will partner with O2 in supporting its digital ambitions and also be able to access its digital supplier relationships- such as those with Microsoft and McAfee. This agreement also enables Pinnacle to provide public sector organisations with a complete turnkey solution through the Public Services Network (PSN) framework. O2, as the first mobile network provider to become CAS(T) certified will, through its partnership with Pinnacle, enable the Company to offer enhanced IT security to the public sector. Taken together, Pinnacle's service offering represents a strong proposition to the public sector and the opportunity for the Company to meet the increasing market demand for heightened security capabilities to deal with electronic security threats. Pinnacle CEO, Nicholas Scallan, said: "Our exciting partnership with O2 is another demonstration of our on-going commitment to offering clients technology, digital products and services that will significantly enhance their business. We further believe that being able to offer both existing and new public sector clients PSN-assured services is highly appropriate in the current climate, where cyber security is increasingly important to both the public and private sectors."