focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Compulsive argument for the prosecution Look forward to more details re: Stratagem and wonder what below will vent Major Shareholders Stake % Forest Nominees Ltd 9.80 Lazard Freres et Cie Paris 5.28 Nutraco Nominees Limited 4.88 HSBC Global Custody Nominees Ltd 3.96 Direct Investing 3.35 Peter Kennedy 23.66 Martin Evans 11.57 Total 62.51
imagine that James Newman, Senior Independent Non-executive Director, Steven Fawkes Non-executive Director, and Tim Jackson-Smith, Chief Executive, who are supporters of the action and own 125000 shares between them will have to resign should the coup not succeed. This seems fishy to me "it was agreed by the Board that we should appoint management consultants to do a review of executive management, senior management, NED's and myself. I informed the Board that, if in the considered opinion of the consultant, I was part of the problem and not the solution, I would step down. I asked James Newman and Steve Fawkes, the independent non- exec directors of your company, to run the process of appointing a consultant, as I did not want to influence the process. Whilst I have pressed on many occasions over the last month, I still have no start date for this work that was apparently to last several days. The fees for the consultant were agreed on 20th June." Why did they wilfully ignore what the board agreed? Also "Following receipt of the Requisition Notice, attempts were made to resolve matters without the need for the General Meeting and a compromise, in which John Grant would join the board and a strategic review would be carried out, was offered by the Company but this was rejected. Accordingly, the Directors were left with no alternative but to convene the General Meeting." I think the olive branch was extended but the minority not interested as they obviously have a different agenda to what's on the table What are their proposals if they succeed? I'd rather hear them now and if it's a similar proposal to what has already been tabled why run with the wolves - we might get eaten big time.
cogent argument for the defence. What's the boards view? I feel inclined to stay with the "known" Any views to the opposite?
So in conclusion I believe there should be change but not through my removal from the Board at this crucial stage in your Company's development. To that end I intend to vote my 25,150,814 shares in the Company (23.66% of the issued share capital) against the General Meeting Resolutions.
It was clear before I took my role as Executive Chairman that we needed to build a strategy that was not reliant upon Government plans for a mass roll out of smart meters. We had been unable to convince a potential large new entrant that it was viable to enter the energy supplier market at scale. Although we were having discussions with the smaller suppliers it was clear that there was little appetite to be trail blazers, especially once it was well known in the industry the roll out programme for smart meters was running into difficulties. The net effect was we were losing money in our metering business and had little to no prospect of additional sales to support the overhead it was carrying. Utilisoft was performing well and was expected to continue to perform well, but in my view was unable to create the growth alone that would generate appropriate value for shareholders. Without implementing a different strategy in my view we would be destined to become a small software company. Since becoming Executive Chairman I and the management team have diligently been building the strategy based around selling Software as a Service ("SaaS") and wrapping around it other services such as energy efficiency, training and metering. This has resulted in what others and I believe to be a unique offering in the market. With the help of Mark Coyle, our then Development Director, in November 2012 we produced a document entitled "Community Energy" outlining where we believe the opportunity for our services lay in Housing Associations and Local Government. Community Energy is at the heart of our strategy. However, I can't in this document outline in much detail our commercial discussions with various Housing Associations and Local Authorities, other than to say we are in advanced discussions with and expect to sell to our first Community Energy Company shortly. These are long contracts, typically 21 years, and will require all of our existing services and products and are poised to deliver significant shareholder value. It was clear to me after I took the role of Executive Chairman and put together the strategic vision that the structure of the Board was not appropriate to deliver that vision. To that end it was agreed by the Board that we should appoint management consultants to do a review of executive management, senior management, NED's and myself. I informed the Board that, if in the considered opinion of the consultant, I was part of the problem and not the solution, I would step down. I asked James Newman and Steve Fawkes, the independent non- exec directors of your company, to run the process of appointing a consultant, as I did not want to influence the process. Whilst I have pressed on many occasions over the last month, I still have no start date for this work that was apparently to last several days. The fees for the consultant were agreed on 20th June. So in conclusion I believe there should be change but not th
Bglobal PLC Posting of Response from Peter Kennedy to Circular RNS Number : 7705J Bglobal PLC 22 July 2013  Date: 22 July 2013 On behalf of: BGLOBAL PLC ("Bglobal" or the "Company" or the "Group") Embargoed until: 0700hrs BGLOBAL PLC ("Bglobal", the "Company" or the "Group") Posting of Response from Peter Kennedy to Circular and Notice of General Meeting Responding to the Circular and Notice of General Meeting announcement issued to Shareholders on 16 July 2013, a letter from Bglobal Executive Chairman Peter Kennedy to shareholders has been posted today. The contents of the letter are provided below. Dear Shareholder, Further to the recent announcement convening a general meeting of our company, I set out below a summary of my views on the resolutions to be considered by the meeting. Why I believe it has been requisitioned and why I have decided to oppose the board changes that are the subject of the requisition rather than bow to pressure and resign. Clearly having this debate in public is unhelpful and should have been avoided if at all possible. However, we have a conflicting view here, which I accept as reasonable from the Forest Nominees position, but equally I think my decision to oppose my proposed removal as executive chairman and the appointment of a new chairman, based on my understanding of our current trading position is also reasonable. Sometimes you have to agree to disagree. I believe what certain shareholders wish to do is to crystallize a short term value for their shares, not unreasonably, and the only way they see that happening is to look to sell the business. I can only surmise they don't agree with my strategic vision or at least don't believe it will materialize in timescales that suits them. I was approached by a number of shareholders last year to offer the company for sale and others who wanted to know why I didn't want to sell the business. Many of these shareholders have backed our company from the start and have been loyal through difficult times. I did not discount their overtures without considerable reflection. What I did agree to do was to take a more active role in your company and I felt the only way to do that was to move to Executive Chairman, which I did in October 2012. My role was primarily was to look at strategy and sales, addressing the question of "where was the market for our services?" It was clear before I took my role as Executive Chairman that we needed to build a strategy that was not reliant upon Government plans for a mass roll out of smart meters. We had been unable to convince a potential large new entrant that it was viable to enter the energy supplier market at scale. Although we were having discussions with the smaller suppliers it was clear that there was little appetite to be trail blazers, especially once it was well known in the industry the roll out programme for
Avia Health Infrmtcs Statement re. Suspension RNS Number : 4486J Avia Health Informatics PLC 16 July 2013  Avia Health Informatics Plc ("Avia" or "the Company") Statement re suspension Further to the announcement made by the Company on 25 June 2013, the Directors of Avia confirm that, in the absence of any other viable funding alternatives, the Company has entered into a heads of agreement with a third party for that third party to make a capital injection into the Company (the "Heads of Agreement"). Entry into the Heads of Agreement gives the third party a limited period of exclusivity to, inter alia, complete its due diligence on the Company. The Heads of Agreement envisages the existing operating business of the Company being de-merged into a private entity, with existing Avia shareholders receiving shares in the private entity on a pro-rata basis. It is likely that such a transaction would be subject to the approval of Avia shareholders. The Directors consider that the arrangements envisaged by the Heads of Agreement represent the most likely way at present for Avia shareholders to retain some value and potential for capital appreciation. There can be no certainty that the arrangements set out in the Heads of Agreement will be entered into or complete and, in that situation, unless an alternative source of capital can be found, it is likely that the Company, or its principal creditors, will seek the appointment of an administrator. Further announcements will be made as and when appropriate.
market seems to like it. 2 buys totalling over 300k shares, 1st buy 1min after announcement...
Bglobal PLC Requisition of General Meeting RNS Number : 5043I Bglobal PLC 03 July 2013  BGLOBAL PLC ("Bglobal" or the "Company") Requisition of General Meeting Bglobal plc (AIM:BGBL), announces that Forest Nominees Limited, the registered holder of 10,410,556 ordinary shares representing 9.79% of the issued share capital of the Company, has requisitioned the Board of Directors of Bglobal to call a general meeting of shareholders for the purpose of: - removing Peter Kennedy, Executive Chairman, as a director of the Company; - removing any directors appointed between the 25 June 2013 and the date of the general meeting as a director of the Company; - appointing John Heathcoat Grant as a director and Chairman of the Company; and - as soon as practicable, following the passing of the resolutions, the directors conducting a comprehensive strategic review of the Company. Bglobal will issue a circular to shareholders giving due notice of a general meeting where the resolutions will be put to shareholders and will make a further announcement in due course. In the meantime shareholders are advised to take no action. James Newman, Senior Independent Non-executive Director Tim Jackson-Smith, CEO Mark Taylor Charles Stanley Securities Nominated Adviser and Broker Rebecca Sanders-Hewett Dwight Burden David Ison Redleaf Pohill Bglobal plc Tel: +44 (0)1254 819 600 Tel: 020 7149 6000 Tel: 020 7382 4730
Advanced Computer Software (ASW) AIM-listed Advanced Computer Software Group plc (ASW) is a leading provider of patient management software solutions for the healthcare sector and back office solutions and services for organisations in both the public and private sectors. The Group has grown from a start-up to employing approximately 1,900 staff serving 20,000 customers across the UK, USA and Ireland. Following the acquisition of Computer Software Holdings in March 2013, the enlarged Group is expected to deliver pro forma revenue of £193.2m for 2013, of which £160m is recurring (contracted and repeating) and adjusted EBITDA of £42.3m. The Group’s objective is to maximise growth in shareholder value by delivering innovative, cost effective software and services to satisfied customers. Opportunities for growth include exploring new markets for core products, cross selling and expanding the portfolio of products and services through selected acquisitions.
third paragraph in my post of 13.23hrs today
Financial The Group expects to report first half results from continued operations with revenues up 20% (10% organically*) to no less than £56.7m (2011: £47.3m**), and adjusted EBITDA*** up 10% (8% organically*) to no less than £13.2m (2011: £12.0m**). Adjusted EBITDA*** margin is expected to be 23% following the acquisition in April 2012 of Fabric Technologies ("Fabric") for £4.6m and subsequent restructuring. At the period end the Group had net cash of £1.5m (29 February 2012: net debt £1.1m). Cash conversionϯ continues to be strong at over 100%. Operational highlights Advanced Health & Care anticipates organic revenue growth of 18% from continued expansion of its core patient care management software. Strong progress was made in building partnerships with NHS 111 providers and Advanced is now the preferred supplier to more than 70% of the NHS 111 market. Growth in mobile solutions continues to accelerate, and the Group's target of 26,000 users of iNurse and iCare products by the year-end looks solidly achievable. Advanced Business Solutions expects organic revenue growth of 5%, with continued demand from the public sector for shared services, procurement, budgeting and forecasting solutions, as local authorities and other organisations invest in technology in order to reduce costs. The division's large customer base continues to be a fertile source of opportunity for Advanced 365's cloud-based offerings. Advanced 365 expects organic revenue growth of 21%, excluding the results of Fabric. The integration of Fabric, which provides managed services and unified communications to mid-market customers in banking and other professional services sectors, and the transition to higher margin lines from lower margin hardware sales, is expected to be fully completed by the year-end. Cross selling, in conjunction with Advanced Business Solutions, continues to be important for this division which signed a number of multi-year contracts during the period.
Advanced Computer Software Group plc (Advanced) is the leading supplier of software and IT services to the health, care and commercial sectors with a primary focus on delivering high quality products and services to enable first class delivery of care in the community. Advanced's portfolio for the health and care sector includes IT management and analytics systems for out-of-hospital applications covering urgent and unplanned care, district nursing, hospices, residential care homes, telehealth, end-of-life and long-term-condition management; as well as mobile information systems for community carers. Advanced additionally delivers back-office systems for NHS trusts, local authorities and care providers and is further strengthening its position in the health checks and pharmacy services markets. Working with partners in the NHS, local government and the private sector, Advanced delivers IT in support of safe and efficient care delivery and greater information for both the commissioner and care provider. The company's unique proposition is the breadth of integrated health and care solutions from patient-facing IT systems through to back-end operational systems and services. Advanced is also a leading supplier of software and IT services to the commercial sector, which represents 35% of the company's revenues. As the commercial sector typically delivers faster lead times than the health and care sector, this part of the business underpins growth whilst providing opportunities for cross-marketing of products and IT services.
Could be ACS have a lot more to lose than us and remember they already own 30% which could mean a cheap buy for them seeing as how the company, in its own words values itself at 1M They also have a track record of aquisitions being successfully integrated - could be good in the long run.. From ACS's RNS of same date Vin Murria, Chief Executive, commented: "Avia is primarily engaged in developing, building and maintaining the Pathfinder RF and Odyssey clinical decision support systems used by over 100 NHS customers and is a long term partner of Advanced Health & Care. "This strategic investment will further expand and support Advanced's penetration of the NHS to provide better care for more patients." Enquiries: Advanced Computer Software Group plc +44 (0) 1932 584000 Vin Murria, Chief Executive Officer Barbara Firth, Chief Financial Officer
ACS's hand somewhat.... ACS has agreed to loan Avia £350,000 in the form of a convertible loan note with a term of three years at zero interest and secured by a fixed and floating charge over the Company's assets. The loan agreement also gives ACS the right to nominate a non-executive director to the Avia board. The loan will convert, at the discretion of ACS, into 29.9 per cent. of the Company's issued ordinary share capital immediately following the issue of the new Avia ordinary shares of 0.5p each ("the Loan Conversion Shares") to be issued to ACS pursuant to the loan conversion. Roger Lane-Smith, Non-Executive Chairman of Avia said: "We are delighted to enter into the loan agreement with ACS, a fast growing, well respected and substantial business in the sector. The injection of capital into Avia will allow the Company to trade through the short term working capital constraints we have been experiencing and, following conversion of the loan, we will have as our largest shareholder ACS, a business with significant management expertise and financial stability - news which should be welcomed positively by shareholders and existing and potential customers alike."
Perseverance furthers.....
Bglobal PLC Response to DECC statement RNS Number : 4802E Bglobal PLC 10 May 2013  Date: 10 May 2013 On behalf of: BGLOBAL PLC ("Bglobal" or the "Company" or the "Group") For immediate release BGLOBAL PLC Smart Meter Roll-out - Response to UK Government statement Bglobal plc (AIM:BGBL), the leading provider of smart energy solutions and services to the UK energy market, acknowledges the statement from the Department of Energy & Climate Change ("DECC") this morning with regard to the timetable for the UK smart meter roll-out. The Group welcomes the proposals by DECC to introduce a series of new Supply Licence conditions designed to encourage and facilitate the installation of SMETS1 metering systems during the next two years. As per the statement issued on 22 April 2013, over the past few years Bglobal has moved its strategy away from a focus around smart meter installation towards being a provider of software and services to the various participants in the UK energy market. Accordingly, today's announcement is in line with the Company's expectations and strategy and the Board believes this will also prove useful in highlighting the advantages of the Group's Smart Pay As You Go integrated software solution for energy suppliers during the period prior to the start of the mass rollout stage. Looking to the future, the Board will update shareholders on these strategic developments at the time of the preliminary results in July.
Latest News 16/05/2013 Change of Financial PR Adviser 10/05/2013 Smart Meter roll-out 22/04/2013 Trading remained challenging 26/03/2013 David Gammon leaves board 12/03/2013 Agreement with GnERGY Ltd 01/03/2013 Completed disposal of Utilisoft Pty Ltd 22/10/2012 Change of Stockbroker 16/10/2012 Peter Kennedy changes roles
is that missing a "Y" ? LOL Appreciate the insight - just bought another 10k and haggling over 20k shares at the moment..
"current"