Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCrossword Cybersecurity Regulatory News (CCS)

  • This share is currently suspended. It was suspended at a price of 1.75
  • There is currently no data for CCS

Response to Press Comment

28 Oct 2011 16:23

RNS Number : 0883R
Enigmatic Investments Limited
28 October 2011
 



ENIGMATIC INVESTMENTS LIMITED

 

Response to Press Comment

 

The Board of Enigmatic Investments Limited ("Enigmatic Investments") notes the press commentary regarding the bid for Clarity Commerce Solutions PLC ("Clarity") contained within Companies & Markets (Page 3 of the Companies & Markets section, Small Talk) yesterday and would like to draw attention to fundamental factual errors contained within the article and the corresponding "Clarification" contained within today's Financial Times (Page 12 Letters, Clarification).

 

Some of the assumptions and calculations drawn within the original article are misleading and inaccurate.

 

Enigmatic Investments currently owns 4,595,501 ordinary shares in Clarity equalling 11.09 per cent. of the voting rights in the company.

 

The statement that a pre-tax profit of £1.4 million would equate to earnings of more than 5 pence a share is incorrect. In fact a profit after tax of £1.4 million (i.e. assuming no tax charge) would equate to earnings of 3.38 pence a share, or 2.53 pence a share after a 25% tax rate is applied (for illustrative purposes).

 

Furthermore, whilst Enigmatic Investments is aware that the reference to a pre tax profit of £1.4m was one of opinion expressed by the journalist, Enigmatic wishes to draw attention to the fact that in the most recent financial period ended 31 March 2011, Clarity reported a loss before taxation of £1.435m.

 

Enigmatic Investments announced on 20 October that its cash Offer of 23 pence per Clarity Share, which remains subject to the terms and the condition set out or referred to in the Offer Document posted to Clarity shareholders on 28 September 2011, has been extended to, and will remain open for acceptance until, 1.00pm on 2 November 2011 (the "Second Closing Date").

 

Unless expressly defined in this announcement, defined terms used in this announcement shall have the same meanings as set out in the Offer Document. Nothing within this announcement is intended to constitute a forecast of any kind in relation to the future financial performance of Clarity.

 

Enquiries:

 

Enigmatic Investments Limited Telephone: +44 (0) 1481 716000

Laurence McNairn

Mark Huntley

 

finnCap Telephone: +44 (0) 20 7220 0500

(Financial adviser and

corporate broker to Enigmatic Investments) Marc Young or Ed Frisby

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
SPCEVLFLFBFLFBF
Date   Source Headline
18th Mar 20103:44 pmRNSBoard Changes
19th Feb 20107:00 amRNSMulti Million Pound Contract Win
8th Feb 20107:00 amRNSMajor Contract Win
26th Jan 20104:33 pmRNSResignation of Director and Trading Update
23rd Nov 20097:00 amRNSInterim Results
10th Nov 200911:30 amRNSNotice of Interim Results' Date
20th Oct 200911:35 amRNSHolding(s) in Company
15th Oct 200911:03 amRNSResult of General Meeting
29th Sep 20097:00 amRNSPosting of Circular
28th Sep 20097:00 amRNSSuccessful Placing & Trading Update
21st Sep 20094:59 pmRNSHolding(s) in Company
24th Aug 20099:45 amRNSBoard Changes
24th Jul 20095:28 pmRNSResult of AGM
22nd Jun 20097:00 amRNSFinal Results
15th Jun 200911:14 amRNSHolding(s) in Company
22nd Apr 20097:01 amRNSNew CFO Appointed
22nd Apr 20097:00 amRNSDirector's Shareholding
21st Apr 20097:00 amRNSPre-Close Trading Update
15th Apr 20097:00 amRNSSignificant Hotel Contract Win
23rd Mar 20093:59 pmRNSDirector/PDMR Shareholding
16th Feb 20097:00 amRNSSignificant European Contract Win
23rd Jan 200912:43 pmRNSDirector/PDMR Shareholding
30th Dec 20087:00 amRNSContract Win
18th Dec 20087:00 amRNSSignificant US Contract Win
20th Nov 20087:00 amRNSInterim Results
27th Oct 20083:16 pmRNSHolding(s) in Company
24th Oct 20087:00 amRNSNew Board Appointment
18th Sep 20082:16 pmRNSResult of AGM
20th Aug 20089:14 amRNSAnnual Report and Financial Statements
15th Aug 20087:00 amRNSMATRA performing strongly - earn-out terms agreed
11th Aug 200810:29 amRNSDirector/PDMR Shareholding
6th Aug 20082:31 pmRNSHolding(s) in Company
1st Aug 20082:44 pmRNSHolding(s) in Company
24th Jul 20087:00 amRNSFinal Results
23rd Jul 20082:57 pmRNSHolding(s) in Company
15th Jul 20087:00 amRNSSignificant Contract Win
4th Jul 20087:00 amRNSContract Win
1st Jul 20087:31 amRNSDisposal
14th May 20089:36 amRNSChange of Adviser
2nd May 200812:20 pmRNSDisposal of Cyntergy
7th Apr 20081:04 pmRNSStrategic Review
7th Mar 200811:28 amRNSHolding(s) in Company Amend
6th Mar 20084:57 pmRNSHolding(s) in Company
6th Mar 20084:56 pmRNSHolding(s) in Company
28th Feb 20083:22 pmRNSEGM Statement
5th Feb 200811:54 amRNSPlacing and Open Offer
1st Feb 20081:11 pmRNSWorking capital drawdown
16th Jan 200811:22 amRNSDirectorate Change
31st Dec 200712:55 pmRNSInterim Results
24th Dec 200711:25 amRNSDirectorate Change

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.