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Nasstar takes nasty tumble after losing large clients

Tue, 21st Jul 2015 09:44

(ShareCast News) - Shares in Nasstar took an early tumble on Tuesday after the Microsoft reseller and cloud computing services company warned that it had lost two of its largest customers.Despite promising cost and cash control to help reduce the impact of these losses, management said full-year results are now expected to fall short of original expectations despite showing good year on year growth.One client was lost after being acquired having its IT services consolidated into the new owners' operations, while the group's largest customer has taken the "very unique and unusual" step of signed a direct enterprise licensing agreement with Microsoft for its Office and Exchange licensing in July, which means Nasstar retains the customer but no longer receives licensing revenues and margin for Office and Exchange for this particular client.Some good news was unveiled to cushion the blow, with consolidation programs including the merging of the two London offices and progress made on reducing monthly licensing costs associated with the Microsoft product range.The AIM-listed group said it has also become one of "a select few" UK Microsoft partners that have been invited to join the US software giant's Cloud Solution Provider program, helping to differentiate its offering from many competitors."This supplies the group with a tier one agreement to sell Microsoft's cloud offering known as Office 365. The program enables the Group to supply Office 365 on a true flexible per user per month model, with the Group contracting with the end user and retaining full invoicing and support of the customer."A new head of sales was said to be "making good progress" in continuing to develop and evolve the direct go-to-market strategy of the group since joining the business in May, with agreements signed with a further three law firms for its fully managed hosted desktop offering, a significant strategic win in the recruitment sector and three-year renewals from four of its top 30 clients.Shares in Nasstar were down 13.4% to 7.25p by 0835 BST on Tuesday.
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4 Feb 2014 14:35

DIRECTOR DEALINGS: Nasstar Non-Executive Buys 750,000 Shares

LONDON (Alliance News) - Nasstar PLC Tuesday said non-executive director Nick Bate bought 750,000 shares at a price of 6.5 pence per share. The purchase represents his only holding in the company. Shares in the cloud technology company were down 3.6% at 6.75 pence Tuesday. By Ar

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17 Dec 2013 10:28

Nasstar raises 10.5m pounds to fund Denara takeover

Cloud computing group Nasstar unveiled a 10.5m-pound share placing to fund an acquisition as it unveiled wider half-year losses. Nasstar said it was paying £13m for Denara Holdings, which owns hosted desktop and managed services provider e-know.net. It said it had raised £10.5m to fund the cash pa

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1 Oct 2013 09:21

Nasstar Expects Full-Year Revenue Around GBP2.0M, Vs GBP2.4M Year Before

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29 May 2013 11:20

Nasstar distributor awarded contract with three new customers

AIM-listed Nasstar, the hosted desktop cloud computing provider, has reported that one of its distributors has won contracts with three new customers for 100 new hosted desktop subscribers in the past two weeks. The company said that the distributor was one of the largest providers in Europe of ho

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3 May 2013 16:11

Whitbread Managing Director trades in shares after vesting under scheme

Whitbread's Managing Director, Patrick Dempsey, has sold 12,341 shares in the company after 26,210 shares vested under an incentive scheme. The shares were sold for 2,616.05p each for a total of £322,847. The transaction was made in the same week Whitbread recorded a double digit increase in ann

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26 Apr 2013 15:09

Advanced Oncotherapy CEO makes triple purchase

The Chief Executive of Advanced Oncotherapy, a provider of new technology for innovative and patient-focused cancer treatments, has this week purchased three lots of shares in the group, taking his stake to just under 69.4m shares. On Thursday Sinclair purchased one round of 8.075m shares at 1.59p

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16 Apr 2013 07:46

Nasstar distributor wins contract for 150 hosted desktop subscribers

Nasstar, the AIM-listed hosted desktop cloud computing provider, has reported that one of its distributors has won contracts for more than 150 new hosted desktop subscribers during the last few weeks. The company said that the distributor was one of the largest providers in Europe of hosted email

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24 Oct 2012 13:59

Small caps round-up: Nasstar, Good Energy, Tangent Commuications

Nasstar, which describes itself as a cloud services provider, has announced that Garnes Data, a Norwegian service provider, has joined Nasstar's partner programme to distribute the Hosted Desktop service. The company will start to receive revenues from the partnership soon, it said. The firm believe

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26 Sep 2012 14:02

Small caps round-up: Nasstar, Seeing Machines, Oxford Advanced Surfaces

Nasstar, which describes itself as a cloud services provider, has announced that one of its partners, iomart Hosting, part of iomart Group, a managed hosting and cloud computing services company, has signed a 70+ user contract for hosted desktop services with an international recruitment consultancy

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24 Sep 2012 16:35

IG Group's COO more than halves stake

Peter Hetherington, the Chief Operating Officer of spread betting firm IG Group has more than halved his stake in the company just a fortnight after it reported a decline in first quarter revenue, as it ran up against strong figures from a year earlier, when markets were particularly volatile. Het

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13 Mar 2012 07:53

Small caps round-up: FFastFill, Nasstar, SocialGo...

FFastFill, the AIM-listed Software as a Service (SaaS) provider to derivatives markets, has announced that R.J. O'Brien & Associates has signed a deal for its front office trade execution and management suite, Trading Pro, is to be deployed within Europe and the US. In a statemnent FFastFill said: "

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3 Feb 2011 16:36

SABMiller non-exec invests £104,000

John Manser, who has been a non-executive director of SABMiller for a decade has bought 5,000 shares in the brewer. Manser paid 2083.82p a share for the 5,000 shares, which cost a total of £104,000. He has taken advantage of the weakness in the share price since the beginning of 2011. Organic vo

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30 Nov 2010 16:34

Tikit chairman trebles stake

Mike McGoun, the non-executive chairman of IT services provider Tikit has invested £1.1m in the company. Tikit supplies software and services to legal and accountancy firms. McGoun has been its chairman since 1997. He has bought 497,833 shares at 221p each. That gives him 5% of Tikit. He appears

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30 Nov 2010 13:34

Small caps round-up: Tinci, Nasstar, 600 Group...

Environmental engineering group Tinci Holdings jumped after it announced contracts worth 45.4m Chinese Renminbi (£4.34m) to provide paper desulfurisation technology to two subsidiaries of the Dongguan Jiulong Paper Group. These projects are expected to start shortly and last for about six months. N

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21 Dec 2009 08:38

Nasstar upbeat despite results

Nasstar, a provider of 'cloud' technology that allows workers to operate from any computer, saw losses widen in the year to September as turnover fell, but cheered the market with an upbeat outlook. Pre-tax losses in the year to September 30 widened to £940,000 from £130,000 as revenue slipped to £

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