Bango releases profits warning By Michael Millar Date: Wednesday 16 Nov 2011 Mobile payments and analytics firm Bango has warned of slower than expected revenue growth. The company said end user spend - and hence revenue - was slower than predicated and as a result it was unlikely to meet market expectations for the full year. In a late trading update ahead of its interim results, the firm said growth in revenues from RIM (Blackberry) related App stores, especially from newer carriers, had been slower than expected. Merchant Securities said at £20m for the year optimistically, the lower revenues would leave profit expectations just above break-even. However, Bango did indicate that the outlook for next year should be brighter as the group has started work on billing integration for a further 43 carriers, in addition to the existing base of 17, Merchant said.
· Bidco will despatch the Offer Document to Parseq Shareholders and, for information only, to holders of Parseq Options as soon as practicable and in any event within 28 days of the date of this announcement. Only a 10 more days to go to see if RC is going to up the ante....
I'm a journeyman myself....
From my understanding of the releases below, RC and his cohorts will have to get 75% to go private and 90% to force me to sell my holding. If the II's feel the same he's in for a long haul before he attains his target. So perhaps after this offer is completed and he's still short of 75% then there may be a better offer for the remaining shareholders I'm staying in - anyone else?
The Offer will be conditional, inter alia, on acceptances being received which, taken together with Parseq Shares acquired or agreed to be acquired by Bidco (including the RC Shares), will result in Bidco holding more than 50% of the voting rights in Parseq. · Subject to the Offer being declared unconditional in all respects and Bidco receiving acceptances under the Offer in respect of, and/or otherwise acquires or contracts to acquire, 75 per cent. or more in the nominal value of all the Parseq Shares and of the voting rights carried by those Parseq Shares in issue, Bidco intends to apply to the London Stock Exchange for the cancellation of trading in the Parseq Shares on AIM and to re-register Parseq as a private limited company. Subject to receiving acceptances or otherwise acquiring or contracting to acquire 90 per cent. or more in nominal value of all the Parseq Shares to which the Offer relates and of the voting rights of those Parseq Shares, Bidco intends to exercise its rights to acquire compulsorily the remaining Parseq Shares on the same terms as the Offer.
Thursday 27 October, 2011 CNH Bidco Limited Further Irrevocables RNS Number : 9673Q CNH Bidco Limited 27 October 2011  OF Irrevocable undertaking in connection with the RECOMMENDED CASH OFFER for Parseq PLC By CNH BIDCO LIMITED ("CNH Bidco") A newly-incorporated company formed and controlled by Rami Cassis, the Cassis Trustees, Dover Street and Nova Capital VI LP (the "Joint Offerors"). · CNH Bidco Limited is pleased to announced that it has received support from, in aggregate, 50.05% of Parseq shareholders through signed irrevocable undertakings from 14.52% of shareholders and the 35.53% shareholding owned by Rami Cassis and the Cassis Trustees. · The Offer will be conditional, inter alia, on acceptances being received which, taken together with Parseq Shares acquired or agreed to be acquired by Bidco (including the RC Shares), will result in Bidco holding more than 50% of the voting rights in Parseq.
If we work from the assumption that RC hasn't got and can't get the monies to make a decent offer then the answer to this alleged offer is simple - JUST SAY NO YOU KNOW IT MAKES SENSE RC IS NOTHING MORE NOR LESS THAN A BACKSTREET ARTHUR DALEY WHO'S CONNING PEOPLE TO STEAL THIS COMPANY E.G. IF I HAVE A SUNBEAM TIGER THAT I KNOW IS WORTH £28,750 WHY WOULD I TAKE AN OFFER OF £12,500? ONLY IF I WAS A DOPE IF YOU DON'T NEED THE MONEY AND ARE PREPARED TO WAIT FOR THE NEXT Y/E RESULTS THEN REFUSE THIS GANGSTER AND HIS MOLLS. AND WHEN THE OFFER IS EXPIRED LET'S GET AN EGM AND THROW THIS CONMAN AND HIS CRONIES OFF THE BOD AND GET AN HONEST GOVERNOR IN HIS PLACE - YOU KNOW IT MAKES SENSE
This is not a fair offer by any means. I certainly will be saying "No deal" to RC and his craven cronies on the B.O.D. who have obviously been beguiled by promises of being able to line their pockets with taking the company private. Point to remember is that he needs 50% plus for this offer to succeed and I would imagine that the institutional investors will not be inclined to accept such a derisory, opportunistic ,insultingly low and demeaning offer given the price at which they bought in at. What's called for here now that RC has shown his hand is for a counter offer that would meet with the approval of PI's and other disillusioned institutional investors resulting in the compulsory purchase of his shares along with ours with him and his cronies out on their ear. Remember JUST SAY "NO"
Institutions oppose Parseq takeover Posted on October 18, 2011 by admin Share Fund managers are resisting an attempt by Rami Cassis, the chief executive of Aim-listed technology company Parseq, to pull off a management buyout. Cassis backed by private equity firms Nova Capital and HarbourVest Partners was expected to confirm a bid for the £30 million company yesterday. However, institutional shareholders led by long-term investor Herald Investment Trust thwarted his attempt by refusing to sell. Indeed, yesterday Herald purchased an additional 20 million shares at 7.5p to take its stake in Parseq to 10.92%. In an announcement issued yesterday Parseq’s board confirmed: “In light of recent share trading activity and following conversations with certain of the Company’s institutional shareholders, the Board is not in a position to recommend the Potential Offer to its shareholder.” Under an extension granted under new takeover rules, Cassis has until 5pm this Friday to announce his intention to make a firm offer or risk humiliation in this takeover battle. Herald declined to comment but previously, its Chairman Julian Cazelet has been quoted in the Financial Times as expresssing his frustration at the targeting of companies by private equity firms supporting management buy-outs at low valuations, when Herald had taken much greater risks investing early. Cassis currently owns 35.53% of Parseq but will need to take his controlling interest to at least 50% to have any realistic chance of success. Other institutional shareholders that have recently increased their stakes include Cavendish with 1% and Axa with 4.3%. The writer holds shares in Parseq.
this share is that there seems to be far to much apathy on this board - but then again - who cares?
here. Retail apps have fuelled mobile payments growth Posted: 06 Oct 2011 01:45 AM PDT Rating: Mobile buyers spend more than cash buyers says Juniper The gross merchandise transaction value of mobile payments for physical goods will exceed $170 billion worldwide by 2015, according to a new report just released by Juniper Research Entitled ‘Mobile Payments for Digital & Physical Goods – Analysis, Markets & Vendor Strategies 2011-2015′, it forecasts that this will be nearly treble the $60 billion predicted for 2011. Significantly the report says that initial growth in mobile payments has been fuelled by a dramatic upsurge in retail apps in the wake of the consumer smartphone explosion. The sort of iPhone and Android apps plus mobile-friendly web sites that GoMo News has frequently covered in the past. The report cautions, however, that vendors still need to innovate unceasingly as the market develops and becomes more competitive.‘Our research for this report underlined the importance of mobile as an extra channel to market,” David Snow, a senior analyst with Juniper Research, observed. “But Juniper believes that mobile campaigns must be tightly linked to print, online and store based campaigns to ensure consistency of customer experience. Increasingly people will browse on one device such as a PC and then buy from another such as a smartphone,” he added. The report found that there was an increasing awareness in the industry of the need to enable an integrated shopping experience within the wider context of a fast expanding e-commerce market. Other key findings from the research are that the market will gain further momentum in the medium term following the increasing deployment of POS (point of sale) solutions to facilitate in-store [NFC-style] cashless transactions. It also identified a major industry benefit – namely that retailers have discovered a marked uplift in average transaction value when cash is replaced by a mobile payment method. In the report there are of some 17 mobile payments vendors and offers guidance for readers to pinpoint their strategies
Sorry - meant Moni lse board
Thanks Shri for that - I can sleep easier tonight. Have 170000 of these suckers and need more than the current offer price to break even. Would prefer if RC shagged off and let a better CEO bring this company on. He's a wonker tanker who cut a con in the reverse t/o judging by the results of the business he brought to the table. See my post on the Moni site re: future of mobile payments - courtesy of Globo news
sorry % needed for co to go private?
seems that everyone's either sold up or abandoned this board. what 5 needed to take company private? Anyone ?
71% to RC at least
Major Shareholders % HarbourVest Partners LLC 35.5 Cassis, Rami , BSc, BAE 35.5 Fidelity Investments 6.53 Herald Inv Mgmt 6.35 Richards, William Samuel Clive OBE DL , FCA FCMA FMIM 6.15 Blackrock 4.25 Hargreave Hale 4.14 Note: Total includes 1 that are not displayed.
.....Nova Capital and funds managed by Harbour Vest Partners according to Techinvest today.....
In addition, the Company has been approached by parties interested in acquiring the principal operating business held by the group, including its intellectual property, with whom it is also engaging. The Board is seeking to evaluate all such approaches, whether oriented towards funding or the purchase of its operating assets, with a view to seeking to maximise shareholder value. The Company will give a further update on its financial condition and working capital on publication of its audited results for FYE March 2011 referred to above, and will make further announcements as appropriate. The shares will remain suspended pending release of its annual audited accounts and further clarification of the Company's financial position.
Friday 30 September, 2011 Avia Health Infrmtcs Update RNS Number : 3673P Avia Health Informatics PLC 30 September 2011 Avia Health Informatics PLC 30 September 2011 Avia Health Informatics Plc ("Avia" or the "Company") Update Further to the announcement of 30 August, 2011, Avia (AIM: AVIA), the AIM-listed developer and provider of clinical decision support systems, provides the following update. Audit work on the results for financial year ended (FYE) 31 March 2011 is approaching completion, but is now expected to be completed with results released within the next three weeks. The Company's current cash resources remain tightly constrained, but recent trading and management of working capital have enabled the Company to continue trading. The Company will give a further update on its financial condition and current trading at the time of its results, or sooner if appropriate. Based on draft accounts, there is no change to the Company's expectations as previously communicated, namely to report for FYE March 2011: a) revenue in the order of GBP2.1 million, an increase of approximately 20% compared to the previous year (broadly in line with expectations of GBP 2.2 million), and b) an operating loss before any impairment of intangible assets and non-recurring items of c. GBP500k (compared with c. GBP300k market expectations, reflecting both the small revenue shortfall vs. expectations of GBP2.2m and higher than expected market development costs. The Company intends to give an update on its expectations for the financial year ended 31 March 2012 at or shortly before the confirmation of its audited results for FYE March 2011. The Company's primary business objective remains to develop, market and sell a range of products for use in the UK and international markets, and Avia is actively seeking strategic investment from partners able to distribute its products and services internationally. In order to provide a more stable base for future growth, the Board is continuing to seek additional external funding. The Board continues to believe, based on current trading, that it is appropriate to seek additional funding of c. GBP1 million as a working capital reserve and to fund growth. While there can be no certainty at this time as to the availability of additional funding, the Board continues to examine all funding options available to the Company. Approaches have been received and/or solicited from potentially interested parties, to whom the Company expects to provide initial information for further discussion. In addition, the Company has been approached by parties interested in acquiring the principal operating business held by the group, including its intellectual property, with whom it is also engaging. The Board is seeking to evaluate all such approaches, whether oriented towards funding or the purchase of its operating assets, with a view to seeking to maximis