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"The going concern" bit is required by law. You will find it with many companies which raise funds.
It looks more like someone has just dumped a load of shares and the mms are trying to clear them. Looking forward to hearing what was discussed at the meeting this morning.
The profit taking is finished. It should start rising now.
A friend of a friend of mine has suggested that VR could be huge in the sex industry.
It sounds like the money has been received and the shares will be admitted to the market in a week’s time.
Admission to trading of First Tranche Shares
Further to the Company's announcement on 7 May 2019, the Company confirms that it and Future Lifestyle Fashions Limited (FLFL) have extended the date by which the First Tranche Shares are required to be admitted to trading on AIM to 23 May 2019, to allow additional time required by the local Indian banks to process the payment from FLFL.
Unless otherwise defined, capitalised terms in this announcement are as defined in the Company's 7 May 2019 announcement.
END
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Just had a call from a company (I didn't get their name) asking which way I would be voting. They were not from my broker. I informed him I would be voting to have Zorbas removed.
Trading update, funding completed and several contracts announced
Another rns just out. Z is going.
Price is 25p/26p, but they are offering 25.75p for your shares.
26.2p to sell, and rising.
Creeping up each day. Perhaps Mike Ashley making a move now that he has lost 150m at Debenhams.
Just tried to buy £2000 worth. Impossible.
Keeps going up and making me loads of money. In for more at 570p.
Sell off today and then buy back in on Monday/Tuesday.
Well, something's woken this up. Now 40/43p, up 10%.
Thu, 7th Mar 2019 07:00
RNS Number : 0734S
Koovs PLC
07 March 2019
Koovs plc
(the "Company")
Koovs Signs $1.4m Technical Services Contract with Future Group
Technical Services Agreement
Koovs plc (AIM: KOOV), the fashion-forward business focused on the young Indian e-commerce market, is pleased to announce that its subsidiary Koovs Marketing Consulting Private Limited has signed an agreement with Future Lifestyle Fashions Limited ("FLFL"), part of Future Group, to develop, host and maintain an online platform for FLFL's Brand Factory retail format (the "Technical Services Contract").
Under the terms of the Technical Services Contract, Koovs will receive a one-off payment of $1.4m for the development of the Brand Factory online platform and an ongoing maintenance fee for a term of 24 months. The value of the maintenance fee will be equal to the cost incurred by Koovs in providing the maintenance of the Brand Factory online platform plus a management fee. Both the one-off payment and the maintenance fee are expected to be profitable for the Company.
Upon delivery of the platform, the Company will issue FLFL a non-exclusive, non-transferable, and non-assignable license to FLFL. FLFL will not acquire any other rights or interest in the platform, the technology or intellectual property.
Mary Turner, CEO of Koovs said: "We believe that Koovs' technology platform is both market-leading and a proven success in India's rapidly expanding ecommerce market. This contract underlines the significant additional potential for growth that can be achieved by licencing our technology to third parties. Brand Factory is a household name in India, generating revenue of c.£188.5m in the last three quarters, so their decision to work with us to provide the new online platform, is a huge validation of the capability and scalability of our technology."
Related party transaction
For the purposes of the AIM Rules for Companies ("AIM Rules"), FLFL is a substantial shareholder in the Company and therefore a related party. As such, the entering of the Technical Services Contract constitutes a related party transaction.
The directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated advisor for the purposes of the AIM Rules, consider the terms of the Technical Services Contract to be fair and reasonable insofar as shareholders are concerned.
Funding of the Company by FLFL
Separately, we anticipate the balance of the additional funding of £9.5m to £10.5m to be subscribed by FLFL into the Company (as announced in September 2018) to close shortly, subject to necessary regulatory approvals or via an alternative structure, as may be permitted under the Indian Laws. We will announce further details in due course.
Looks like I am all alone. Looks like it's ready to leave £5 behind. In for another 1043 at 507p.
Big volume day today. Bought another £5k worth today. Let's hope we head towards £6 soon.