PYX Resources: Achieving volume and diversification milestones. Watch the video here.
From web site - comment by Nick Harding CEO May 23rd 2011 Lots happening as usual, not least of which is the current MMP offer for the business, of which I am forbidden to comment! However, it goes without saying that I think that June will be an interesting month (with a nod to the first of three Chinese curses, ‘may you live in interesting times’ ). The four FEC businesses are now back in business and all kicked off well at Easter, despite the hot weather. Neil Finch, who is the the Area Manager who covers the four businesses has had a full year to prepare and plan for the 2011 campaign and having visited the venues I couldn’t fault them. We now need the summer to be as soggy as 2010 and our takings will be enormous..... My regular mantra, as readers will know, is all about the promised B3 deregulation. The second of the three Chinese curses is something like ‘may the government be aware of you’ to which my response is oh yes please, and the third (allegedly) is ‘may you find what you are looking for’ and there is no doubt that in this case the answer is also a resounding yes please! Latest intelligence suggests that the DCMS are on the cusp of an announcement but given that this process has taken longer than the gestation period of a Blue Whale, you must forgive my cynicism. I am certain that we will get this deregulation at some point and yes it will be very beneficial to all operators in the ‘Coin Op’ business, but the waiting is incredibly frustrating, not least for our shareholders who I am sure sometimes feel that we are constantly suffering from ‘the wrong kind of snow’. On a more cheerful note our bingo business is running well and I can sense that Bingo is enjoying a renaissance at present. I think the underlying reason for this is the very slow recovery from the negative effects of the smoking ban coupled with most good operators realising that you need to provide a decent standard of outdoor smoking area and if you do you will get positive response from your players and it will help build your business. We spent a great deal of money at our clubs in Northampton and Brighton on refurbishing the smoking areas and it has certainly paid off. We are now pricing up a similar programme of work for our flagship at Cricklewood and I would hope that we will commission that work very soon. Our virtual club, Beacon on-line is also performing well and we will shortly launch a new service for our players which will be unique to the world of on-line bingo, so do watch this space! The contract that we have to manage the Agora gaming centres now enters its fourth month and we are very much on top of what was a rudderless ship....
http://www.investegate.co.uk/article.aspx?id=201106011633086903H&fe=1 Praesepe plc the UK based gaming company, today announces that, further to its announcement of 19 April 2011 regarding the entry into a waiver and amendment agreement with, inter alia, The Royal Bank of Scotland to amend the terms of the Company's senior credit agreement (the "Waiver Agreement"), the date for repayment of the remaining £2.35 million of the £2.5 million instalment originally due on 31 May 2011 (the "May Instalment") under the senior credit agreement has been extended until 17 June 2011. The extension of the date for repayment of the May Instalment under the senior credit agreement has been granted on the condition that MMP makes a formal announcement of an offer for the Company by 3 June 2011 and that such offer has become wholly unconditional by 10 June 2011. Looks like we'll get an answer tomorrow or Friday then.
not sure what the offer really means. Anyone help? Would have thought PRA was worth more than 7.5p per share to be bought out as it has low mkt cap and is growing successfully - now the UK's biggest number of machines and breaking into profitability. With this summers expected increase in B3 machine prizes the future looks promising but instead we sell ourselves for 7.5p per share? This offer doesn't seem to have any future potential priced in? Am I missing something and has anyone got a good idea of why the directors would agree to this. I see that some of the execs are also on the board of Marwyn - has this got anything to do with it? thanks for your help
Statement regarding indicative offer Praesepe plc ("Praesepe" or "the Company" or "the Group", AIM:PRA), the UK based gaming company, announces that it has received an indicative offer from Marwyn Management Partners plc ("MMP") in connection with a possible all share offer for the entire issued share capital of Praesepe (the "Possible Offer"). The Possible Offer values each Praesepe ordinary share at 7.519 pence based on a price of 100 pence per MMP share
sorry meant 27th April
Valuation: At a tipping point Praesepe has a highly experienced management team and has already built a sizeable group against a very challenging economic backdrop. Praesepe is just moving into profitability and becoming a serious player in low-stake high-volume gaming, with considerable medium-term growth potential as an industry consolidator. Expected to be profitable before tax for the full year. Results out 7th April
let's get back over 40p! http://www.investegate.co.uk/Article.aspx?id=201103220700273529D
http://www.investegate.co.uk/Article.aspx?id=201102220700076041B Good news...
http://www.investegate.co.uk/Article.aspx?id=201102100800029772A
Profit before taxation of £0.77million (2009: Loss £0.67 million - Net cash generated in the period £2.50 million (2009: £0.45 million) - Over 7,000 meter installations in September -New contracts won with direct customers and a new entrant to the electricity market Good luck all.
Update February 2010 Third quarter Bglobal installed nearly 10,500 meters.......the freezing weather in December and January affected our programme of installations with many schools, local authorities....premises closed and hazardous driving conditions on roads making sites inaccessible. The Company's completion rate.......therefore fell from our targets. Despite the recent disruptions...continues to trade broadly in line with current market revenue expectations for the year.....However, a combination of the adverse weather conditions, the demand from customers for a new type of meter.......and the investment by the Group ahead of the British Gas Business order has affected the gross margin. Profit for the period will therefore be lower than current market expectations. Update March 2010 The Company's nationwide installation programme continues to recover from disruption caused by freezing weather conditions in December and early January and smart meter installations performed across the UK by Bglobal during February reached almost 4,200 July 2010 : Final results end of March: • Revenue increased by 99.3 per cent to £13.23 million (2009: £6.64 million) • Services revenues increased 133 per cent to £2.26 million (2009: £0.97 million) • More than 100,000 total smart meters now installed • Over 40,000 meter installations billed in the financial year • Administrative costs decreased to £4.95 million (2009: £5.63 million) • Loss from operations £0.59 million (2009: £4.07 million) • Acquisition of Utiligroup completed June 2010 Update 10th November 2010 Six months ended 30 September....The Board is pleased to report has been profitable and cash generative. The Group's acquisition of Utiligroup was completed on 21 June and it has traded in line with expectations.......Despite the second quarter growth, the total number of meters installed in the first half remains behind expectations.....The Board is revising its installation expectations downwards by 10 per cent. and anticipates that it will raise operating costs to ensure that it maintains and increases the current installation rate, and this will impact on Bglobal Metering's contribution to Group performance in FY11 December 2010 : Half Year to end of September 2010 Peter Kennedy, Chairman said: "Our continued growth and move into profitability together with the Utiligroup acquisition gives us a platform to deliver many of the solutions required to enable the energy industry to build a smart grid infrastructure that will ensure security of supply." Highlights: - Group profitable and cash generative - Revenue increased by 114% to £12.46 million (2009: £5.82 million) - Gross margins increased to 44.6% (H1 2009: 33.5%) - Adjusted profit before taxation of £1.31 million (2009: Loss £0.67 million) - Profit before taxation of
I do think that this is oversold due to concerns over the weather and impact on installations. A similar problem occured last year, although I think December was worse that 2009. That said, January has been better and I don't think the weather will have impacted January. The company should see a full year profitable outcome which I think will be positive. I'm going to post a summary of updates released over the last 12 months for interest. This is how I've come to my own conclusions and on the back of it averaged down my holding by buying some more on Friday at 33.5p. Everyone needs to do their own research tho as I'm in this one not to see overnight growth but to balance my portfolio...That said i see good potential for this in the future. Cheers Tim
http://www.bglobalmetering.com/downloads/0ecfb294-f3e7-4f65-a2c4-0c9c406299cd.pdf
Should have put that responses are sought by 25th January 2011 so decision will follow afterwards.
Gambling Act 2005: Government review of B3 machines Lead department or agency: Department for Culture, Media and Sport Impact Assessment (IA) IA No: DCMS 007 Date: 21109/2010 Stage: Consultation Source of intervention: Domestic Type of measure: Secondary legislation Contact for enquiries: Alistair Boon 020 7211 6486 Full report can be found here : http://www.culture.gov.uk/images/consultations/categoryB3-gaming-machines-signedIA.pdf Summary page.... 111. The amusement and bingo industries have come under increasing economic pressure since 2007, with 255 adult gaming centres (AGes) and 91 bingo clubs being reported by them as closing in this period. This is also affecting British gaming machine manufacturers. They argue that difficult trading conditions arising from the economic downturn over this period are being exacerbated by burdens placed on AGe and bingo premises through the introduction of the Gambling Act 2005. The government is persuaded that the situation facing these industries is sufficiently grave to justify considering whether a small increase in the maximum stake for category B3 gaming machines (a significant source of income for AGes and bingo clubs) and a recalibration of machine entitlements for AGe and bingo premises might be appropriate. 112. The government wishes to explore ways in which it can provide AGes and bingo clubs with more operational flexibility in relation to the regulatory framework currently in place in order to allow AGe and bingo operators a greater degree of freedom in making commercial decisions affecting operation of their businesses. This will allow operators to generate more revenue with the aim of preventing further closures and job losses. It will also provide a boost to gaming machine manufacturers through an increase in orders. The government will aim to permit these greater freedoms without undermining public protection objectives of the Gambling Act 2005. 113. The government is therefore considering six options: i) Do nothing ii) Increase the maximum stake limit for category B3 gaming machines from £1 to £2 iii) Permit a proportionate increase in the number of B3 machines in AGes and bingo clubs to 20% of total number of machines in such premises iv) For AGes and bingo clubs permit one category B3 gaming machine per 150 square feet (14 square metres) of licensed area floor space v) An increase to the maximum stake for B3 machines combined with a proportionate increase in the number of B3 machines in AGes and bingo clubs based on machine numbers (option ii combined with option iii) vi) An increase to the maximum stake for B3 machines combined with a proportionate increase in the number of B3 machines in AGes and bingo clubs based on licensed area floor space (option ii combined with option iv) Let's hope we don't have to wait too long to find out the proposal! GLA
If at first you don’t succeed, etc etc... Finally today we received confirmation that the DCMS have initiated a period of consultation leading up to ratification of a stake increase on Category B3 gaming machines and also implementing a new,formulaic approach to the numbers of B3 machines that can be operated in one location. This formula is likely to be on the basis of 4 lower category gaming machines to 1 category B3. The consultation period will last 12 weeks and could then be followed by ratification by the EU, meaning essentially that we would not be installing the new games until April next year, but we will be installing them at last! It has clearly been a slog, and we have worked tirelessly with BISL (Business in Sport and Leisure) lobbying both MPs and regulators over a protracted period of time but I am delighted that we now have clarity on this issue and can see a clear path towards implementation of what will be an important product for us in 2011/12. I also feel that we are now seeing a more common sense approach from government and the regulators towards the UK gaming industry, an industry which provides jobs for over 100’000 people in the UK and pay billions in taxes to the exchequer. John Penrose, the new Gambling Minister has proved himself to be a sensible, pragamatic individual and we must be grateful to him for his intervention in this matter. Our H1 results were released at the beginning of October. Clearly some of our performance targets for 2010 were predicated on the basis of seeing Category B3 deregulation much earlier in the year and as such I was pleased with the H1 numbers. H2 finishes at the end of December and the last three months of the year are traditionally the busiest for both gaming machines and bingo operators. We have now relicensed over 30 of our High street venues as ‘Micro Bingo Clubs’, with a further 10 venues still be reviewed prior to the grant of a new licence. Not only can we operate Video Bingo Terminals (VBTs) at these venues but we can also offer linked ‘Pari-mutuel’ products across a wide area of venues. We are excited about the prospects of new games to be provided under a Bingo licence and I anticipate the introduction of some interesting new products as we move into 2011. With the exception of the big ‘aircraft carrier’ bingo clubs my sense is that smaller clubs may suffer in the face of competition from operators on the High street in towns and cities in the UK that are offering competitive bingo products in more convivial surroundings which are also far more accessible to the bingo playing public. Nick Harding 2nd November 2010
http://www.beaconbingo.com/aboutus.php Pra are going places....
what's your position in here and what are you looking for if you don't mind me asking. I got in at 2.5p some months ago. Was at Aldgate site the other day (just passing) and couldn't see any activity. Really not sure whether just to cut and run as I said had given up on this but if there really is news it would be worth waiting. Do you have any idea on Sp if news on Aldgate was to be released?
at elast this will soften the blow of the rotten sandwiches
thanks for the L2, shareprice isn't giving me any info at the mo