Member Info for BND1

Thanks to mudbath on advfn mudbath 17 Jan'13 - 19:22 - 2828 of 2835 0 0 Midas Extra of The Daily Mail, I believe, suggested Pure Wafer as a "speculative buy" ;resulting in this morning's stronger showing. "The company(PUR), which has designed a way of reclaiming silicon chips so they can be used up to ten times instead of just once, has been through the mill – and is now set for growth." Read more: http://www.thisismoney.co.uk/money/midasextra/article-2263432/MIDAS-EXTRA-SHARE-TIPS-Silicon-chip-cleaner-position-grow-shares-adventurous-investors.html#ixzz2IGIqh82W I am anticipating further upward progress in the share price over coming days.

0754 GMT [Dow Jones] Nomura raises its TalkTalk Telecom (TALK.LN) target price to 275p from 190p following "strong" 1H results [Nov 13]. Says better results, combined with newly identified efficiency measures and continued fixed market repair, give it confidence that future margins can progress beyond this year's 20%-21% target. Adds it is encouraged by a promising start for YouView, which it says should be supportive for top-line growth in coming quarters. "We continue to see TalkTalk as a strong value play." Reiterates its buy rating. Shares closed Tuesday at 213p. (nina.bains@dowjones.com)

That BUY note i promised in full 34 pages......... http://www.berenberg.de/cgi-bin/content/content.cgi?rm=show_doc&session_id=3b45d89c528a9cd5ba328dff5ae03eeb&sb_userid=0&sb_eventid=0 BUY Rating system Current price GBp 208 Relative Price target GBp 265p 22/11/2012 London Close Market cap GBP 1,988 m Reuters TALK.L Bloomberg TALK LN Changes made in this note Rating Buy (Hold) Price target GBp 265 (180.00)

AGM BACKGROUND !!!!!!I THANKS TO STEVE!!!!!went to the Pure Wafer AGM in Swansea last week on November 15th at 10am.The meeting was somewhat sparsely attended - apart from the directors I was the only shareholder to turn up! Thanks to a major traffic jam I arrived just as proceedings were getting underway. I was nevertheless offered a coffee and asked if I wanted to ask any questions before voting started. I have to say that the reception I received was very courteous. I used the opportunity to (a) congratulate the Board on steering the business through some very difficult waters, and (b) voice my frustration that private shareholders had been 'locked out' of the placing. I also expressed concern about possible further dilution. The CEO, Peter Harrington, responded that further dilution was very unlikely once the current fund-raising was out of the way. The votes were either unanimous or overwhelmingly in favour of all resolutions, including the fund-raising. What struck me was the low level of participation. Of 127 million shares in issues only around 40 million votes were cast. In other words the fundraising could have been blocked by holders of just 13 million shares, little more than 10% of the shares in issue. Following the meeting I spoke with the representative from WH Ireland. He was sympathetic to the plight of private shareholders but the priority had been getting the fundraising away. For this they had to go deep-pocketed investors. Given Pure Wafer's troubled history I appreciate that the placing price had to be pitched at an attractive level for the institutions, though it has disadvantaged private investors and hammered the share price. Post AGM my analysis is that the fundraising was desirable and all shareholders should benefit over the medium term. Private shareholders have had the chance to buy in at under 4p per share, though still at an unwelcome premium to the placing price of 3.5p. On the plus side Pure Wafer has removed the question mark over its balance sheet and is well placed to meet growing demand. Given the rapid rate of cash generation the company could be free of debt within a year, at which point it should generate very significant surplus cashflow in relation to its modest market capitalisation. All in all I have the impression that the Board is confident the business has turned the corner. The fund-raising should greatly speed up the turnaround process. Following the AGM I was given an extensive tour of the facilities by the extremely knowledgeable and helpful COO. He clearly has a tight grip on the day to day and is highly motivated to help grow the business. The guided tour was fascinating - I hadn't realised quite how hi-tech the business was. Both the Swansea and Prescott (Arizona) facilities have extensive 'cleanrooms' to limit contamination during the reclaim process. The impression I got from walking around was of a well organised and efficient operation. So all in all attendance

Excellent broker forecasts - could rocket from here. Brokers have been increasing forecasts strongly over the past month. http://lt.morningstar.com/hm3q8d226n/stockreport/default.aspx?tab=4&vw=bf&SecurityToken=0P00007OPR]3]0]E0EXG$XLON&Id=0P00007OPR&ClientFund=0&CurrencyId=BAS Interesting that the 2013 EPS consensus >24p is now above the 2010 all time high (post dotcom crash) of 22.16p. 26.17recent 2013 eps average/22 in 210 x243p share price high =good chance of 290p share price soon when Pace guides for the outlook. IMO Pace will announce a JV / merger with a big technology player soon - this has to be the way to leverage jointly the potential of the multimedia home given apple has left the space open. This could see the share price rocket.

Imo we will get a take over bid very shortly and Pure are preparing for that. Hold onto your shares folks.

Reason for the rise... http://www.fiercecable.com/story/directv-launches-genie-offering-new-subscribers-free-multiroom-dvr-and-nfl/2012-10-11 DirecTV launches Genie, offering new subscribers free multiroom DVR and 'NFL Sunday Ticket' Five programming packages range from $30 to $90 October 11, 2012 | By Steve Donohue DirecTV (Nasdaq: DTV) launched its Genie whole-home DVR Thursday, offering new subscribers who sign two-year contracts set-tops for up to five rooms and free access to the 2012 NFL Sunday Ticket package. The Genie promotion marks one of the most aggressive subscriber acquisition campaigns yet for DirecTV, which lost 52,000 subscribers during the second quarter. Boasting that Genie can record up to five programs simultaneously, DirecTV takes shots at rival Dish Network (Nasdaq: DISH) and cable operators in a website it launched to tout Genie. It notes the DVR can automatically record TV series that it expects a subscriber would be interested in based on their viewing habits. In addition to offering new subscribers Genie, a DVR manufactured by Pace (LSE: PIC) that contains 1 terabyte of storage space, DirecTV said subscribers can get up to four free Genie C31 thin client set-tops from Pace that can be used to access programming from any other room. Genie is also compatible with the RVU protocol, which will allow subscribers that buy TVs from Samsung and other manufacturers building RVU-enabled TVs to access the whole-home DVR and DirecTV's user interface without a set-top. DirecTV is pitching five programming packages with the Genie offer, ranging in price from its $30 Entertainment package to the $90 monthly Premiere package, which includes premium networks HBO, Showtime, Starz and Cinemax. It's offering three free months of access to the premium networks to all new subscribers.

http://www.lightreading.com/document.asp?doc_id=225519&site=lr_cable& Comcast Corp. (Nasdaq: CMCSA, CMCSK) has picked Pace plc as one of the suppliers for a new IP-only high-definition video client box in development called the XI3, Light Reading Cable has learned. Because it's IP-only, the XI3 won't contain a QAM tuner. It's anticipated that the XI3 will use Comcast's new cloud-based user interface and obtain linear video from a primary gateway that can transcode QAM video into IP streams that can be shuttled to the client box via the home network. Light Reading Cable first reported in April that Comcast was developing an IP client box called the X3. (See Comcast Sizes Up All-IP Set-Top .) According to a source familiar with the product, the Pace XI3 is based on the Broadcom Corp. (Nasdaq: BRCM) BCM 7428 chipset, supports MoCA 2.0, and features HDMI, Ethernet and USB ports, and an option for a 802.11n Wi-Fi module. Comcast declined to comment on the project. Here's a sneak peek at a design for the XI3. Comcast's still developing the XI3, but here's what it apparently looks like. And what's with that SD Card slot? The XI3 doesn't have an internal hard drive, so the slot could be used for memory expansion. But it's also plausible that Comcast could use an SD Card as a local, mini-DVR that could buffer a small amount of live TV programming for trick-play functions (pause, fast-forward, rewind, etc.). Advanced Digital Broadcast (ADB) toyed with the notion of using an SD Card as a "lite" DVR for a tru2way "set-back" box it showed off in 2010. (See Tru2way 'Phantom' Box Is a DVR Lightweight .) The XI3 is also an obvious candidate for a network DVR that Comcast is testing in the Boston area. (See Comcast Tests Network DVR in Boston .) It's not known when Comcast plans to deploy the XI3, but it's not expected to show up until 2013 at the earliest. The XI3 appears to be a product based on the Comcast Reference Design Kit (RDK), a bundle of software for hybrid QAM/IP gateways and IP-only clients. Comcast hopes the RDK will help cut product development cycles to a year or less. The X1, a hybrid gateway also made by Pace, is the first product to come out of the RDK project. Following launches in Boston and Atlanta, Comcast expects to deploy the X1 in at least three more major markets this year. (See Comcast's Set-Top Accelerator Gains Traction and Comcast's Cloud TV Service Rolls Into Atlanta.)

http://uk.finance.yahoo.com/news/3-ftse-shares-hitting-2012-103204312.html Digital TV technologist Pace has had a cracking year so far, with its shares having more than doubled to 170p from their 72p level at the start of 2012. The world's largest set-top box maker has had a tough couple of years, falling from around 240p in 2009 after inventory concerns and natural disasters in Asia hurt its business. But July brought us welcome news of the interim stage, and though income was down, a positive outlook for the second half helped boost the shares. Forecasters are expecting an earnings fall of around 7% for the full year, with growth of more than 20% predicted to return by 2013. And with the shares on a prospective 2013 price-to-earnings (P/E) ratio of only 8, they could still be cheap.

It's official http://www.ftse.com/Media_Centre/Press_Releases/2012/20120912__Melrose_and_Wood_Group__(John)_to_Join__FTSE_100_Index.doc All changes from this review will be implemented at the close of business Friday, 21 September 2012 and take effect from the start of trading on Monday, 24 September 2012.

Pace - Management highlight further potential for upgrades Our analyst caught up with Pace’s management at the International Broadcasting Convention (IBC) on Friday where management continued to highlight further opportunities which lead us to believe even our above consensus EBITDA of $170m FY13e looks far too conservative. Key points included: 1) Consolidation of manufacturing partners: As noted during interims, Pace intends to reduce suppliers from five to potentially two or three following presentations over the course of this week. In our view, this provides significant scope for improving gross margins in 2013 and underpins upgrade potential. We had previously suggested savings in the region of $50m which management did not think was unreasonable. 2) Media servers: Shipments to Comcast and DirecTV are ramping up well. As Pace is the only vendor with media server capabilities, it currently has 100% share at both these customers. Pace believes dual sourcing is unlikely until 2014 3) Software and services revenues: Our analyst saw demos of Pace's recently launched products (media servers for the US market, Smart OTT box for sky New Zealand) along with the latest acquisitions (Latens, Bewan). While still early days, Pace appears to be making good progress in developing its software and services revenue stream. During H1, software and services accounted for 5% of revenues and in our view this could account for 10-15% of Group revenues over the medium-term. These revenues are at much higher EBIT margins of 35% vs the Group on c.7% and are much stickier in their nature. Deveopments here could lead to re-rates in the future. In terms of our view, while shares are trading ahead of our FV, their continues to be scope for significant upgrades. Furthermore, at 7.8x CY13E P/E and 4.9x CY13 EV/EBITDA, the rating remains supportive. We re-iterate our Buy recommendation. Pace will report its Q3 IMS on 13 November. the above is from Espirito

bains123 10 Sep'12 - 12:01 - 1218 of 1218 edit From the header by mudbath: On September 7th,2012,with a 7.2pence S.P.,PURE WAFER has a Market Cap of just over £9million;yet with annual EBITDA and CASH GENERATION showing exponential growth and set to exceed £3million when figures are released in one months time, allied to rapidly decreasing debt levels and shareholder funds of over£14million,then with Industry forecasts indicating double digit growth for at least a further three years surely PUR has to be an outstanding candidate for a continuation of the current significant upward re-rating with my short term target for the SP being 12pence,with a more medium term objective of 37.5pence.

Here are the reasons to buy in PUR as soon as possible, as results may show: 1..Back in profit. 2..Excellent outlook statement. 3..Share price in the teens after the results. 4..Potential for a take over of PUR at a price in excess of 25pence. This week could be the last week to buy under 7p!!!!!!! Stock is very tightly held and supply will become tighter.

IMO now is the time to fill your boots as the results are only weeks away.Could even double between now and then.

AlexMcDonald 21 Aug'12 - 19:47 - 33211 of 33215 http://www.fiercecable.com/story/gci-deploy-tivo-premiere-and-pace-xg1-gateways/2012-08-21?utm_medium=nl&utm_source=internal

waggle 17 Aug'12 - 09:54 - 33128 of 33128 the article below is from Espirito...wish that MP could work the same magic with Numis!! not too convinced by reducing to 2 suppliers..flood plains and tsunamis etc!! Pace - Onward and upward We met Pace’s CEO yesterday and gained more colour on both the current competitive environment and Mike Pulli’s latest initiative to cut costs. Having first dealt with working capital, the new management are now attacking the Cost Of Goods Sold line. To that end, RFPs have been sent to Pace’s current five manufacturing partners to consolidate that list to potentially two. The company expects this to be completed by September. In our view, this could lead to a significant uplift in FY13E gross margins and could be the source of the next wave of earnings upgrades. We currently estimate EBITDA of $170m for 2013e but understand that this could rise to at least $200m given the potential cost savings. The current competitive environment continues to remain benign – Google recently announced that it will reduce Motorola’s workforce by 20%. While a large chunk of the reduction comes from Motorola’s handset business, the set-top box business is also likely to be impacted. It is our understanding that it is only Pace and Motorola out of the big players in the industry that currently make any money in the set top box market. Seeing a retreat by one of their stronger competitors must be helpful in the context of others like Technicolor (grappling with too much debt and activist shareholders) and Google’s unlikely ownership of Scientific Atlanta which we understand is loss making. Anecdotal comments from Pace lead us to believe that they are taking incremental market share in this environment. Overall the company is focussed on getting the company into shape (improving profitability and balance sheet), passing some of the benefits on in terms of rising margins and also re-investing back into technology to maintain competitive pressure. In terms of our view, while the share price is now higher than our fair value of 160p, the rating of 7.4x CY13 P/E is still attractive. With continued scope for upgrades and an opportunity to consolidate the market, this points to further upside potential in the shares and we remain firm buyers. Link to recent note: http://portal.executionlimited.com/research/pdf.htm?file=20120725072943Recoverywellunderway.pdf

BASHOR 15 Aug'12 - 10:28 - 33058 of 33058 From motley fool 10th August Pace (LSE: PIC.L ) Pace can't do anything wrong at the moment, it seems, as the set-top box specialist achieved another new high of 166 pence on Thursday. It all started with interim results released on July 24, and although they told of a tough first half hit by a world shortage of hard disks, the outlook appeared positively glowing. There was also a 15% boost to the first-half dividend. Since those results, the shares have rallied 45%. But even after that impressive rise, current forecasts still put the shares on a forward P/E of 9.9, falling to 8.1 for 2013 -- so even now they're not looking overpriced.

Pace Delivers Building Blocks for Sky New Zealand's IGLOO Share this article Print Alert Pace Plc (LSE:PIC) Intraday Stock Chart Today : Monday 16 July 2012 Pace Delivers Building Blocks for Sky New Zealand's IGLOO PR Newswire SALTAIRE, England, July 16, 2012 SALTAIRE, England, July 16, 2012 /PRNewswire/ -- Pace to provide software and services with hardware to support new IGLOO TV service, bringing free-to-air and on-demand content to new audiences in New Zealand Pace plc today announced that it is providing the services and technology behind SKY New Zealand and TVNZ's innovative new TV service, IGLOO. IGLOO will run Pace's new and innovative Elements software platform on a Pace DVB-T2 Digital Terrestrial Television (DTT) hybrid IP set-top box to offer consumers digital TV services, Video on Demand (VOD) and a dynamic user interface for navigating and selecting content. Pace is also providing systems integration and consulting services to support the new service platform's development and rollout to New Zealand's TV viewers. The IGLOO service, which soft-launched to a group of customers at the end of June, delivers a fully integrated broadcast and broadband TV solution. Once installed, IGLOO provides consumers with all terrestrial free-to-air channels for free. In addition, they get access to a pre-paid premium channel pack, pay-per-view sporting events and a transactional video on demand (TVOD) catalogue of over 1000 items. In providing these options, the IGLOO pre-pay model is designed to offer consumers unparalleled flexibility and content choices. Chaz Savage, General Manager of IGLOO, said: "We wanted to develop a flexible new service that catered to households who want access to the great content they associate with SKY and TVNZ, but without the commitment of a long-term contract. "We came up with the idea for IGLOO, but knew it would need a technology platform that made it not only exciting to look at, but easy to use, good value and flexible for consumers. The Pace solution ticked all the boxes - a superb user experience thanks to the Elements software, delivered via a high-performance, reliable set-top box." Shane McCarthy, President of Pace International, said: "Having partnered with Sky New Zealand for many years with set-top box solutions, it is incredibly exciting that Pace has been selected to support IGLOO, especially given its potential to transform how New Zealanders consume home entertainment. The combination of our Elements software platform and our hybrid IP/DTT set-top box hardware will ensure that consumers can find the content they want, when they want it, helping IGLOO meet the business goals behind its launch." IGLOO incorporates the following from Pace's Elements platform: •Cobalt - An advanced head-end solution that facilitates convergence. Cobalt powers IGLOO's advanced search and recommendation f

http://advanced-television.com/index.php/2012/07/13/technicolor-sells-shares-to-vector-quits-stbs/ Technicolor sells shares to Vector, quits STBs By Colin Mann Share on facebookShare on twitterShare on emailShare on printMore Sharing Services Media and entertainment technologist Technicolor is to start selling as much as €191 million worth of new shares to equity fund Vector Capital Group on July 16 to raise cash to reduce its debt and reorient the company from its unprofitable set-top box business The capital increase, in which Vector will receive 18 per cent to 29.94 per cent of Technicolor’s equity, was approved in late June by Technicolor’s shareholders after a bidding war between Vector and US bank JPMorgan Chase & Co. The operation will be carried out through two capital increases. The first, reserved to the equity fund, will see Vector pay €2 per share, and a second one, to open July 18 and close August 2, in which Vector has the right to buy as much as 75 per cent of the shares put for sale at €1.56 a share, Technicolor said. Technicolor had said April 11 that it hoped to find a partner for its loss-making set-top box business, confirming that it was in talks with several parties and was also seeking to dispose of its Angers, France STB factory by the summer. The factory filed for insolvency late May 2012. “Our problem is simple: prices have to come down, our clients stress this. Today, we cannot afford to build set-top boxes in France. This battle is lost, let us concentrate on what we can win,” Technicolor Chief Executive Frederic Rose said at the time The capital to be injected by Vector will allow Technicolor to focus on other businesses such as digital media services, where the company holds numerous patents Technicolor will also use part of the new equity to reduce its net debt of some €1 billion The French government has said it is closely monitoring the situation at Technicolor

Some fund managers only buy stock in the ftse 250 as tracker funds. The charts show a massive leap from 120 to 150 so imo a good time to tuck a few away.