Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
The next deal will already be lined up and could be huge considering we sit with over £15 million and ready to invest it on another profitable deal for shareholders.
Kums, not long now with so much cash in hand for more big news.
MXCP made a clear profit of over £5 million in the space of 6 weeks. They now sit with over £15 million in cash and own 24% of CTP whilst having 4 AIM listed companies mandated for advisory services. MXCP also own 25% of 365Agile which is flying right now. With over £15 mill in cash I expect big news within the next couple of weeks if not sooner.
MXC Capital Limited ("MXC" or the "Company") Completion of the disposal of Calyx Managed Services Limited ("Calyx") Further to the announcement made by the Company on 2 April 2015 in relation to the conditional agreement to sell Calyx to Redcentric plc, MXC is pleased to announce that the conditions to completion set out in the agreement have been satisfied and the disposal of Calyx has now therefore completed. MXC Capital Limited Marc Young
I agree, it's one which will one day just be out of sight. Imo the cash reserves here will be over £25 mill and we will be picking up bargains galore and generating huge returns. We don't have over 400 staff trying to sell anything or provide a service, we have a team of top management generating huge returns without the risk of losing a major contract or a product being bettered. We just keep on making money and earning shareholders a solid return. This one is a grower!
I expect MXCP to double from here with ease and a lot more in the future. Where else on aim will you see a company generate £5.5 mill in profit in the space of 5 weeks? This is going to leave aim and became a FTSE company in the next year or two and people will kick themselves. This is one that will just continue to make news, make money and rise out of sight.
Cash in the bank and ready to re-invest! MXC Capital Limited ("MXC" or the "Company") Completion of Disposals Further to the announcement made by the Company on 24 March 2015 in relation to the conditional agreements to dispose of two of Calyx Managed Services Limited's divisions, Break Fix to Daisy Partner Services Trading Limited and Carrier Services to Chess Limited, MXC is pleased to announce that the conditions to completion set out in both agreements have been satisfied and that both business disposals have now therefore completed.Following the completion of these transactions we expect the disposal of Calyx Managed Services Limited to Redcentric plc, as announced on 2 April 2015, to complete on or around the 13th April 2015.
Good news for one of our largest investments CTP and another reason why MXCP is going great guns. Castleton Technology PLC ("Castleton", "the Group" or "the Company") Appointment of Director/ Keylogic Update Castleton Technology plc (AIM:CTP) is pleased to announce that Davinder Sanghera has been appointed to the Board of Directors as Chief Operating Officer with immediate effect. The Company is also pleased to report that Keylogic Limited, acquired on 2 March 2015, is trading ahead of expectations, delivering over £1 million of bookings in March, which is 40% up on the same period in the previous year. The rest of the Group also continues to perform well ahead of expectations, delivering strong organic growth. Davinder joined Castleton in November 2014 at the time of its acquisition of Documotive Limited ("Documotive"), where she was Sales Director. Davinder joined Documotive in its formative year and was instrumental in driving product development and sales strategy within the business. Davinder has 23 years' experience within the social housing sector and over 12 years' specific experience in selling Housing Management and Finance software solutions. Prior to Documotive, Davinder worked with various organisations within the social housing sector, holding front-line housing management positions at Housing 21 and Bromford Housing Group. Ian Smith, CEO of Castleton, said: "We are delighted to welcome Davinder to the Board. Davinder has an excellent understanding of the social housing sector which is a key market for Castleton and comes with a proven sales track record as well as an established industry profile within the sector. Documotive has performed strongly since acquisition and we are pleased to report that trading within the rest of the Group is encouraging. "
The net return to MXC from its investment in Calyx following the various disposals and after restructuring costs and professional advisory fees is expected to be £5.3 million. Marc Young, CEO of MXC, said "Following MXC's acquisition of Calyx, a strategic review and restructuring of its businesses was carried out. The subsequent disposals of the Calyx businesses have been to industry buyers where we expect they will thrive. We are delighted to have concluded this series of transactions to the benefit of each acquirer as well as to the benefit of MXC." Now there is a huge amount of cash to re-invest and if they can do that in one month where will this be by the end of the year!!!
Major announcement and a massive profit!! MXC Capital Limited ("MXC" or the "Company") Disposal of Calyx Managed Services Limited ("Calyx") for cash MXC is pleased to announce that it has entered into a conditional agreement to sell Calyx to Redcentric plc ("Redcentric"). Redcentric will acquire the entire issued share capital of Calyx for a consideration of £12 million payable in cash on completion (subject to an adjustment for restructuring costs). The businesses of Calyx currently consist of IT managed services and professional and infrastructure services. For the year ended 31 December 2014, these businesses generated a turnover of £9.1 million and a gross profit of £5.1 million. Gross assets of the remaining Calyx business as at 28 February 2015 were £4.3 million. The sale is conditional on the completion of the disposals of the Break Fix and Carrier Services businesses, which are subject to the completion of the ongoing TUPE consultation. Completion is expected to occur on or around 13 April 2015. MXC acquired Calyx and subsequently carried out a strategic review which resulted in significant restructuring. As part of the restructuring, it was announced on 24 March 2015 that Calyx had entered into agreements to divest its Break Fix and Carrier Services businesses for an aggregate consideration of £5.55 million. The net return to MXC from its investment in Calyx following the various disposals and after restructuring costs and professional advisory fees is expected to be £5.3 million. Marc Young, CEO of MXC, said "Following MXC's acquisition of Calyx, a strategic review and restructuring of its businesses was carried out. The subsequent disposals of the Calyx businesses have been to industry buyers where we expect they will thrive. We are delighted to have concluded this series of transactions to the benefit of each acquirer as well as to the benefit of MXC."
Accumuli bought out and MXCP will be collecting more fees on the back of this. On 24 March 2015, the Boards of NCC Group plc and Accumuli plc announced that they had reached agreement on the terms of a recommended offer pursuant to which NCC Group will acquire the entire issued and to be issued ordinary share capital of Accumuli (the "Acquisition"). As outlined in that announcement, the Acquisition is to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). To become Effective, the Scheme requires the approval of a majority in number of those Accumuli Shareholders who are present and vote either in person or by proxy at the Court Meeting and who represent 75 per cent. or more in value of all Accumuli Shares held by such Accumuli Shareholders. The Scheme also requires the passing of the Special Resolution to be proposed at the General Meeting, as well as satisfaction or waiver of the other Conditions set out in the announcement on 24 March 2015. The Scheme must also be sanctioned by the Court at the Scheme Court Hearing. It is currently expected, subject to the necessary approvals referred to above being obtained, that the Scheme will become Effective in late April 2015. Consequently Accumuli has applied to the London Stock Exchange for trading in Accumuli Shares on AIM to be suspended with effect from 7.30 a.m. (London time) on 30 April 2015. Accumuli has requested that admission of the Accumuli Shares to trading on AIM be cancelled by 8.00 a.m. (London time) on 1 May 2015 (the "Cancellation").
Will end up being floated via RTO and MXCP stand to benefit on a huge scale in comparison to initial investment. A great chance to get in before this happens as a serious re-rate will occur.
From CTP means even more revenues for MXCP New product offering Castleton, the software and managed services provider to the public and not for profit sector, is pleased to announce that its partner company, 365 Agile Limited ("365 Agile"), has acquired Ciseco, known as Wireless Things. Documotive Limited, one ofthe leading software suppliers to the social housing sector, acquired by Castleton in November 2014, is the exclusive reseller of the 365 Agile Solutions package. As the exclusive reseller to the social housing sector, the Group is now able to offer a complete 365 Agile and Internet Of Things ("IOT") solution to its customer base, a unique proposition in the sector. The deal brings together Wireless Things' secure two-way communication protocol that allows communication between smart devices and 365 Agile's secure Tablet & Smart Phone software to create an end-to-end IOT solution. The combined technology puts the Group in a powerful position to deliver a range of shrink-wrapped IOT solutions including environmental monitoring, measurement of consumption of utilities and the ability to interface with any electrically controlled device. The Group currently resells 365 Agile to more than 80 UK Social Housing customers and Wireless Things has over 50 million hours of run-time of its devices in the field. Ian Smith, CEO of Castleton, commented: "The ability to offer our customers an increasingly broad product set demonstrates our commitment to providing the social housing sector with a one-stop solution for its software and technology requirements. IOT capability brings an exciting range of potential applications to our market place that we look forward to showcasing." Contacts: Castleton Technology PLC Ian Smith, CEO
all coming together very nicely here. More news expected on the back of recent events and more products being offered. Great chance to get in before this really takes off.
I'm quite sure we can expect some good news on the back of these events of late and todays.
Will not be far away as we bank even more funds for investing. All the while over £13 million has been changed hand in the space of 6 weeks. MXCP are only getting started. Expecting news from 365Agile on the back of the recent events and presentations they presented and also Calyx who recently won new business. RCN are also ready for acquisitions which = more fees for MXCP. Consolidated nicely here over he last couple of weeks and ready to move on.
Shares in EYE sold and £2.34 million in the bank for further investment. Sale of shares in Eagle Eye Solutions Group plc ("Eagle Eye") MXC is pleased to announce that is has, as part of the placing concluded yesterday, disposed of its entire holding in Eagle Eye at a price of £2.00 per share. The net proceeds received from selling Eagle Eye shares over the past month is £2.34 million. The sale concludes MXC's legacy asset disposal activities and the company is now solely focused on growing its technology focused merchant banking activities. Marc Young, CEO of MXC said: "We are pleased to have successfully concluded the disposal of the last remaining legacy asset. The net proceeds represent a good return for our shareholders. We will employ the proceeds to further build out our tech focused merchant banking activities."
Great post, looks like news business being won and awarded already for our 100% owned Calyx MS. ******* This comes hard on the heels of them announcing a growth rate of 266% and also becoming a gold seller of Netapp Managed Services provider, Calyx, has been made a NetApp Gold Partner after just one year with Silver status. Michael Whitty of NetApp commented: “This is a significant achievement by Calyx; to transition from silver to gold within a year is rare, but Calyx has worked exceptionally hard ensuring both sales and technical teams are fully accredited. The results are clear to see and we are all feeling very excited about the partnership.” Not only has Calyx sold over £½ million worth of NetApp solutions – a key requirement for the promotion – but it has also invested in NetApp as part of its own Infrastructure-as-a- Service platform, cementing what was already a strong relationship between the two firms. “NetApp has become Calyx’s ‘go-to’ vendor when delivering best-of-breed enterprise-class solutions such as a hybrid cloud,” said Steve Clark, CEO at Calyx. “For our customers, this new Gold ranking means they can be totally confident in our skills and expertise in implementing NetApp solutions for the maximum benefit of their business.” The accreditation comes as Calyx reports a growth in profit margin of 266% thanks to growing demand for consultancy, combined with its own operational investment. Calyx heeded its own advice to clients and invested £1m in its cloud infrastructure, which has helped the business remain highly competitive. At the same time, Calyx has maintained zero debt throughout the year. Clark continued: “Over the past few years technology has become less of a facilitator and more of a strategic differentiator. Listening to customers, we’ve learnt that they need a partner with both the vision and the experience to help understand, adopt and exploit this technology to gain competitive advantage. We have the right skills and expertise to respond to this demand and the individual challenges faced.
Next trading update will be very interesting. It will provide us with a good understanding of the Calyx acquisition and also how things are coming together as a whole.
Kums. Some good posts lately from you, keep up the good work.