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Share Price Information for Star Energy (STAR)

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Share Price: 9.925
Bid: 9.50
Ask: 10.25
Change: 0.00 (0.00%)
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Starcom raises funds to cover cash problem, announces new CFO

Mon, 01st Jun 2015 08:28

AIM-listed wireless technology company Starcom has raised £475,000 before expenses following a 4p-a-share placing.The proceeds will be used to solve its short-term cash problem and to provide additional working capital.As part of the placing, its chief executive officer (CEO) Avi Hartmann, chief technology officer Eitan Yanuv, and chief financial officer (CFO) Michael Rosenberg subscribed for 250,00, 225,000 and 150,000 shares respectively.Rosenberg also announced that it is planning to step down as CFO in order to focus on his other business interests and will be replaced by Ron Alroy from 15 June.Alroy, who will not be appointed to the board, has held key positions in several Israeli businesses and is the chairman of the Institute of Certified Public Accountants in Israel Committee for the enhancement of government accounting in Israel.CEO Hartmann said: "We are pleased with the support shown from our existing shareholders. As previously reported the majority of our products are now fully developed and we expect to see increased revenues flowing in the second half of this year."The second generation Watchlock is due to be launched in the fourth quarter of 2015 and revenues from this new version will mainly be achieved during 2016."
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21 Mar 2014 14:42

Crimea crisis hits Starcom

Starcom, which supplies wireless technology for remote tracking, said it has to defer the recognition of revenues on orders due to the affects the Crimea crisis has had on a distributor in Ukraine. The distributor, which entered into purchase orders in December 2013 to purchase 4,000 WatchLock unit

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21 Mar 2014 13:36

Starcom Defers USD1.0 Million In 2013 Revenue Amidst Ukraine Unrest

LONDON (Alliance News) - Starcom PLC Friday said the recent political and economic upheaval in Ukraine means it has had to defer recognising revenue from a USD1.0 million order for 4,000 of its WatchLock high security padlock and electronic alarm systems. In a statement, Starcom said a long

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27 Feb 2014 12:41

Starcom Up As It Launches New Padlock With Electronic Alarm

LONDON (Alliance News) - Starcom PLC Thursday said it has officially launched its WatchLock high security padlock and electronic alarm system globally, but the UK will be its first market, followed by the US in April and then other regions. Shares in the wireless tracking technology company

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3 Feb 2014 10:40

Starcom Raises GBP2 Million In Share Placing

LONDON (Alliance News) - Starcom PLC said Monday that it had raised GBP2 million through the placing of 13.3 million new shares, which it will use to fufill product orders, continue investment in research and development and build up its inventory to satisfy future sales. The tracking and m

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15 Jan 2014 11:18

Starcom Expects In Line Full Year Revenue & Profit

LONDON (Alliance News) - Starcom PLC said Wednesday that it expects full-year revenue and profit to be broadly in line with expectations after a strong second-half, but its year-end cash position would be below expectations. Starcom develops wireless technology for remote tracking and monit

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8 Oct 2013 12:53

Starcom signs deal for distribution of WatchLock device

Starcom, which specialises in the development of wireless solutions, has announced a non-exclusive distribution agreement with telecommunications distributor MAM Objects. The agreement, for the distribution of Starcom's WatchLock product, will see the device marketed and distributed throughout Cen

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8 Oct 2013 11:09

UK WINNERS & LOSERS: M&S Dips But Aeorema Jumps As It Recommends First Dividend

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8 Oct 2013 09:21

Starcom In South America Distribution Deal For WatchLock

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30 Sep 2013 11:31

UK WINNERS & LOSERS: House Builders Prosper On Good News, Travelzest Soars

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30 Sep 2013 10:32

CORRECT: Starcom Starts Recovering From Profit Warning As Margins Rise

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30 Sep 2013 10:28

Starcom Starts Recovering From Profit Warning As Margins Rise

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