Lottery


Our lottery has been in operation since 2002 and we hold a coveted UK external lottery managers licence. We have raised over £5 million for good causes and paid prizes to over 1 million winners.
Expansion to the lottery will see improved games and support for societies, underpinned by an expanded business development team.

e-commerce technology


Online purchases are the life blood of almost every consumer facing company in the developed world.
Boxhill have a range of products that suit all merchant’s needs, working within both regulated frameworks and in regions where traditional acquiring partners struggle to offer safe, secure services.

Company Website

Investor Centre

Recent Broker notes

BarChart Indicators

Recent Market news

Boxhill technologies Fundamentals

Boxhill Technology PLC subsidiary provides payment software to SVSFX for foreign exchange traders

The Company is delighted to announce that SVS Securities PLC has completed the integration of Pay Corporation's payment software platform into SVSFX, their foreign exchange business which offers Tradable and MetaTrader 4 Foreign Exchange trading platforms. Servicing international clients, Pay Corp's payment platform enables safe and secure card transactions for SVS's customers. Alex Gadd, Head of FX at SVSFX is delighted at the new opportunities that the collaboration with Pay Corp can offer their overseas customers.

Phil Jackson, CEO of Boxhill commented, "Foreign exchange trading forms the most liquid market in the world with trillions of dollars traded every day. Our first integration into the consumer end of this huge market opens up a new segment of customers for us in line with our plans to diversify our payments business customer base and we expect to add further FX trading companies who utilize MetaTrader 4, Tradable or any other FX trading platform in the coming months".

Flippin' heck, this is a scary one skinny! I suspect the 'pump & dump' brigade will be along some time soon! Market cap of a little under £2m and a Beta of 0.39.
Good luck with your 150,000 investment!

:-)

Been in since early TWL days so it's nice to finally see some good news...bought more today as well...(for better or worse!)

Hopefully we'll get some revenue numbers through in the next 6-12 months

Statement re Share Price Movement


The Board of Boxhill Technologies Plc (AIM: BOX) notes the recent rise in the Company's share price and confirms that it knows of no reason for the movement.

I'm still in!

Final Results

Financial Highlights

· Revenue £1,410,000 (£2,190,000 including discontinued operations) (£843,000 in 2013)
· Operating Loss before interest £110,000 (£201,000 including discontinued operations) (a loss of £232,000 in 2013)
· Net assets of £492,000 (£283,000 in 2013)
· Loss from ordinary activities £187,000 (a loss of £254,000 in 2013)

Operational Highlights

· Acquired technology business Pay Corporation Limited ("Pay Corp")
· Refocused operations, final winding down of gaming operations.

Post-period Highlights

· Successful pilot and testing of casino based services
· Growth from fourteen payments customers to approaching fifty
· Platform level integration into leading foreign exchange trading platforms
· New look lottery website and improved lottery technology

Commenting on the Final Results, Chairman Lord E T Razzall said:

"Through 2014 we have continued to deliver our long term plan of building out the ecommerce and online transactions business. Boxhill Technologies PLC is continuing on its transitional journey focused on building a stable platform for growth.

Current contracted business through the payments division continues to grow healthily; with encouraging growth in contracts since July, with Foreign Exchange being a major focus in the short term. Estimated group revenues for the financial year ending July 31 2015 are expected to at least double those of 2014 based on current agreed business."

Trading Update

Boxhill Technologies plc (AIM: BOX), the payment software and lottery group, announces a trading update covering the nine month period ended 30 April 2015. As the results for the six months to 31 January 2015 that were previously announced have shown, the Company has made significant progress in the year so far. Revenues are well ahead of the comparative period last year and the Company has moved into profitability. For the quarter to 30 April 2015 Boxhill has seen revenues continue to grow and pro-rata profits increasing as a result. As such the Boxhill management is confident that the full year out-turn will be at least in line with the statement made when the full year results for the year to 31 July 2014 were announced on 6 January 2015, which was that estimated group revenues for the financial year ending 31 July 2015 are expected to at least double those in the year ended 31 July 2014 based on current contracted business.

HIGHLIGHTS

· Total transaction volume growth within the Payments Division, on a like for like basis, of 374% for the six months ended 31 January 2015, with a positive trend continuing in Q3.

· The Company returned to profitability in the first six months and the early indications show Q3 profitability has accelerated.

· Net increase of 20 customers using the Company's payments technology in the 9 months to 30 April 2015

Payments Division

Boxhill's payment division experienced robust trading for the six months to 31 January 2015 and this growth has continued through the following quarter. Transactions managed via its platforms have increased by 374% when comparing H1 2014 to H1 2015. The Company expects a slight slowdown during the break between the UK football seasons through June and July as football betting currently provides a significant proportion of the division's transactions. The impact of the lack of football betting is expected to be somewhat reduced by events such as Wimbledon and F1, as well as the addition of new customers and the anticipated growth in FX transactions (following the Company's successful first installation in this area, as announced on 5 September 2014).

During the period the Company continued to grow its customer base - winning a total of net 20 new clients. The Company is also focused on integrating with payment gateways and other payment technology providers as a means to increasing our appeal and reach for merchants and other service providers.

The new contracts within the payments division broadens the Company's customer base across e-commerce businesses of all kinds, including online gaming, foreign exchange and general e-commerce customers. The company continues to see an increase in transactions across all customer groups and expects further significant wins and increased business with existing customers in the coming months.

Casino Cash Machines

Roll out of the new Casino Cash machines has been delayed slightly compared to the Company's original expectations at the time of the product's launch last September, in order to improve certain design features based on the six months of user data gathered from the existing sites. Despite the slight delays, the Casino Cash product will still be a positive addition to overall Group operating margins this year. The Company also wanted to achieve profitability before making further investments as this would open up other options for funding the expansion of Casino Cash without tying up undue amounts of the Company's working capital.

Prize Provision Services

Prize Provision Services Limited ("PPS"), the operator of The Weather Lottery, recently launched its new website (www.prizeprovision.com) as part of its marketing campaign, highlighting current clients and its services, including 'Boost' - a managed lottery marketing service and the ability for a client society to create its own lottery offering.

In addition, PPS is making further improvements to its Weather Lottery software. These improvements will offer greater transparency to all clients and has the potential to offer further services to client societies, which will be investigated in the coming months.

One service which is expected to positively impact player acquisition and retention is the introduction of direct debit as a payment method which is due to be introduced at the end of Q2 2015.

These improvements, along with the development of sales and account management staff, who have recruited a small number of new societies this year, are expected to deliver a small net increase in the total number of lines being played over the next six months.

Soccerdome

The Company continue to work with Nottingham Council as the reopening of the Harvey Hadden Sports complex nears, including negotiating a significant extension to the lease. The Company is in active discussions with a number of parties with a view to Soccerdome re-opening and in respect of management of the venue on a joint venture basis.

Phil Jackson, Chief Executive, commented:"The growth strategies for our existing businesses are clearly established, albeit from a low base, and they bear the hallmarks of real progress. We have moved into profitability and expect to maintain that. The board are committed to delivering shareholder value and developing a business with a number of operating businesses focused on e-commerce and gaming."

Very nice. Well done skinny. :-))

Thanks - small holding only, but if it ever gets to a whole penny.........

lovely candle - well done Skinny

Good RNS released yesterday... all looking much better now.. I'm still in BOX since a long time ago.. will continue to hold ..GLA!

Holding on for a trading update due very soon (imho)

re - update

The last one was only less than 3 weeks ago. next one should be in August

yeh, true.... topped up today so am staying in for a good while longer. Looking forward to the next update in Aug and hopefully we'll get some contracts news before then.

Retracement done yesterday at 0.155p

As the MAN chart do not show the half, got me confuse, but I looked with other places and trades and it went to 0.15 v o.16p.

at this point as buyers are back, would say Fibonacci retracement of 61.8% is done
Level 2 has gone to 3 v 1

15 minutes delay

There is a huge growing market................

By CAMILLA CANOCCHI FOR THISISMONEY.CO.UK - 4 June 2015
Card payments double in a decade as online shopping booms and shoppers embrace contactless cards
Debit, credit and charge card payments rose by 8.2% last year
Card payments totalled 32.6m in 2014 compared to 15.7m in 2004
For each £4 spent at UK retailers last year, £3 was on a debit or credit card

The number of card payments in the UK has more than doubled over the past decade as people increasingly shop online and embrace new technologies instead of using cash, according to new data.

Payments made through debit, credit and charge cards rose from 15.7million a day in 2004 to some 32.6million in 2014, the UK Cards Association said.
Last year alone card payments increased by 8.2 per cent compared to 2013 to hit a total of £600.3billion – which equals to more than £19,000 every second, the UK Cards Association said.
New ways to pay: The jump in card usage recorded over the last year is in part down to the introduction of the contactless payment system

New ways to pay: The jump in card usage recorded over the last year is in part down to the introduction of the contactless payment system
This means that for each £4 spent at UK retailers last year, £3 was on a debit or credit card.

The industry trade body said the jump in card usage recorded over the last year was in part down to the introduction of contactless payment system, which enables people to pay for low-value items by swiping their card on a reader instead of typing in their pin number.
The current limit for a single contactless transaction is £20, but from September 1 a higher limit of £30 will be introduced.

Richard Koch, head of policy at the UK Cards Association, said: ‘Consumers are making more than twice as many card payments every day than they were 10 years ago, a clear sign of how people are now choosing to use the cards in their
‘With more places now accepting cards, contactless payments and the rise in online shopping, the large jump in card spending we saw last year looks set to continue.’
The UK Cards Association estimates that in another 10 years’ time, card payments will hit 52.2million a day.

People spent £2.32billion using the contactless system last year – a ‘rapid growth’ fuelled in part by the launch of contactless payments on Transport for London services last September.
More than one in 10 contactless transactions in December was made by people paying for using London transport such as bus, tube, overground trains or rail, the association said.

Meanwhile, online shopping continues to grow, accounting for £21 for each £100 spent on cards at UK retailers last year. On ‘cyber Monday’ in December last year, more than 25million people shopped online.
The report also looks at the different methods of payments adopted by different generations.

Younger people are more likely than the population generally to have a debit card, while older people are more likely to own a credit card.
Some 94 per cent of people aged between 16 and 24 have a debit card, while three-fifths of credit card holders are over 45.

The average value generally of a debit card purchase last year was £43.45, while the average value of a contactless payment in December was £8.26.
The typical value of a credit card purchase last year was £59.88. The association said 80 per cent of credit and charge card spending was by people who paid off their card in full at the end of the month.

The report said people are often more willing to use credit cards when they are confident about their financial futures.
If the economy continues to improve, credit card borrowing would be expected to increase, it said, as consumers make purchases they may have put off during the period of economic uncertainty. Such purchases could include household goods and foreign travel.

0.18p +0.01p

Marked up this morning. After the buying spree last Friday specially at the end of the day, this morning was a good sign to see the stock marked up from the start, no wonder that the over 1.6M buy was at middle price.


15 minutes delay

Well well trades are poring in and now paying almost full ask price
spread 0.17 v 0.19p

10:14:58 -- 0.1899 - 2,625,068K
10:13:24 -- 0.1849 - 2,696,054K
10:12:51 -- 0.1849 - 500,000K
10:12:12 --- 0.183 - 1,937,707K

after the early Clustered buys, Mms are marking their prices higher now on more isolated but large trades

Today's rise has given a Bullish signal on the chart a Golden Cross this happens when the 50MA crossing up 200MA

Golden Cross
On a stock chart, the golden cross occurs when the 50-day MA rises sharply and crosses over the 200-day MA. Usually, a golden cross is associated with sharp upward price movement and can be used as a buy signal in the belief that a significant uptrend will follow.

Good finished on large trade 2.1M at the end paying full ask 0.21p
earlier some on paid premium 0.22p fo 900K

24.12M are buys
and only 631K sells
so MMs are well short of stock on their books today
they did get a 381k bonus after paying well off the odds 0.198p
spread 0.19 v 0.21p
-----------------
edit
further buys at ISDX with 1.5M buys for 842k sales, so well short here also.
ISDX trades .... BOX trades at ISDX

spread 0.21 v 0.23p +0.02p

Good move up again this morning, on not so much volume as yesterday
A clear signal of short of stock by Market Makers, The one showing the most signal is WINS, as is has been leading the bid since yesterday sometimes without any trade

0.265p now +0.065p

Looking for BREAKOUT

the last Intraday Breakout was last 17 May reaching 0.255p,
just gone to 0.265p so BREAKOUT
Had a spike reaching 0.26 v 0.29p with some selling then now 0.26 v 0.27p

After having a nice spike and a higher intraday breakout, now is time to settle down

Low at 0.20p
High at 0.275p
now 0.24p

that represents almost 50% ( 46.66%) retracement
should be taking its time and then another go to better times

Had a large retracement lowering the price to 0.21 v 0.23p
I top up 1M @ 0.2275p not reported yet ( All data delayed by up to 30 minutes at ISDX )

has finally bounce to 0.22 v 0.25p

I was tempted to sell half this morning as I was +98% - but didn't!!!!

The shares are well undervalued by the latest figures so 0.40 to 0.50p is for me the price it should be.

Needs time to reach there yet, so patience is the word.
--------
finally my trade has come at ISDX ( All data delayed by up to 30 minutes at ISDX )
09/06/2015
15:47
1,000,000 @ 0.228

I had a better look at figures and company news late last night, and on that I made a profit forecast for this Year, not far away now.........

Full year to 31 july 2015
sales .............2.85M
Pretax profits 0.800M
E P S ............0.055p

If those figures were to be right, then the shares are well undervalued event on yesterday's rise to 0.235p the PE is 4.2

note - Interims were in profits and the company said: "We expects revenues for the full year to be at least double that of 2014 based on current agreed business"

the earlier marked down after two large sell trades, was a opportunity for some and share price bounce on a smaller spread than the close last night.

if it bounces from here would be a good point as it was the same price as it bounce late yesterday 0.21 v 0.23p ( so double bottom )

Trading Update

HIGHLIGHTS

• Profitability for the three months ended 30 April 2015 exceeded profitability in the six months ended 31 January 2015.

• Management remain confident that out-turn for the full year will show revenue for the financial year ended 31 July 2015 being at least double revenue in the year ended 31 July 2014 based on current contracted business.

• New technology integrations with payment services providers ("PSPs") giving access to a wide array of acquiring banks, increasing potential transaction capacity.

• Successful conclusion of Casino Cash pilot.


more.....

0.24p +1p after opening at 0.28p

Trading Update

Boxhill Technologies plc (AIM: BOX), the payment software and lottery group, announces a trading update.

HIGHLIGHTS
• Profitability for the three months ended 30 April 2015 exceeded profitability in the six months ended 31 January 2015.

• Management remain confident that out-turn for the full year will show revenue for the financial year ended 31 July 2015 being at least double revenue in the year ended 31 July 2014 based on current contracted business.

• New technology integrations with payment services providers ("PSPs") giving access to a wide array of acquiring banks, increasing potential transaction capacity.

• Successful conclusion of Casino Cash pilot.

Payments Division

Boxhill's payment division drove the growth in profits through the third quarter to exceed the profits gained in the first half of the year.

The Board reiterates that there will be some negative impact in May and June due to the lack of football betting in the off seasons although this is expected to be somewhat offset by events such as Wimbledon and the Grand Prix series. The Company expects to take advantage of the relatively quiet months to complete technology upgrades to servers and the payments platforms. In addition the Company is targeting to complete integrations with a number of PSP and specialist providers in order to increase volume capacity and offer additional card brands as well as alternative payment methods to merchants alongside VISA and MasterCard.

Casino Cash Machines
The Casino Cash pilot at the Hippodrome Casino has concluded with positive results. The pilot succeeded in delivering real life data on the use of the machines in a high footfall casino environment and there will be a number of improvements made to the next generation of machines and software. In addition the Company is working on an innovative funding model allowing for the roll out of the schemes whilst reducing the cash requirement to keep the machines compliant with UK regulations. The Company has interest from overseas operators in rolling out Casino Cash in other countries and expects to make an announcement in the next quarter with more details about Casino Cash.

Prize Provision Services ("PPSL")

Prize Provision Services Limited ("PPSL"), the operator of The Weather Lottery, is in the final stages of completing improvements to its technical platform, with migration due to be completed this month.

The improvements will give greater transparency for clients and has the potential to offer further services to client societies. Along with a more robust service, the new platform will offer improved CRM capabilities for both clients and individual customers alike.

May saw The Weather Lottery hold its first lottery education day in Manchester where societies in the local area were invited to learn how to maximise their lottery proceeds. Following the success of this event the company will be hosting regional roadshows in the coming months.

Together, the improved infrastructure, CRM, education roadshows and the introduction of Direct Debit are expected to deliver a net increase in the total number of lines being played over the next six months.

Soccerdome

The Company continues to work with Nottingham Council as the reopening of the Harvey Hadden Sports complex nears, including negotiating a significant extension to the lease. The Company is in active discussions with a number of parties with a view to Soccerdome re-opening and the venue being managed on a joint venture basis.

Phil Jackson, Chief Executive, commented: "It's great to see the results of hard work reflected in a positive financial performance for the third quarter. The Board will continue to scrutinize and review the shape and offering of our business and place a priority on expanding those operations that generate revenues."

I can see by today's update my Fcast is on track

Profits
6 month £0.298M - already on the news
9 month £0.610M - 3 month will exceed last 6 month so £0.312
12 month £0.800M - May and June will be slower, so £0.190M

Now just need for the Market to grab their attention and see how undervalued the shares are at this price

Twice trying to break 0.28p, with some large trades, once the share price started bouncing back

All looking good! imho

Comment on the Daily Mail

"Boxhill Technologies rose 11 per cent (0.02p) to 0.26p after a bullish trading update.
The payment software and lottery group hit the jackpot by reporting that profitability for the three months to end-April exceeded profitability in the six months ended January 31 this year.
Management remain confident that the full-year result will show revenue for the year ended July 31 at least double last year’s revenue."

Good to see buyers are back with larger trades, enough to make the prices moving on the right direction

earlier buyers at ISDX did help also
BOX trades at ISDX

Slowly but surely is moving higher again, some large trade are showing on the ticker

spread 0.26 v 0.28p

MAM intraday chart does not show the 0.05p movement so I am posting the one below where it shows the nice ladder shape

topped up a couple of times on Friday...continuing to look good imho

KEEP an EYE

0.21p ( 0.20 v 0.22p )

Had a 68.2% retracement and today buyers are back with a very good Level 2 of 4 v 1



Trades at ISDX ( 30 minutes delayed )
BOX trades at ISDX

the nibbling continues and now paying full ask 0.23p
soon moving forward again, by the look of it
Some good trades at ISDX
ISDX trades .... BOX trades at ISDX

going places now, a bit of a break from the screen an a welcome surprise up to 0.24p

The small buys got the MMs moving and up it goes the bid to 0.24p

here we go again as is moving higher with small spread, as finally the share are being spotted as a good riser for the day

currently 2nd on the list of % risers

1 AST Ascent Res. 0.21p 35.48% +0.06p
2 BOX Boxhill Tech 0.255p 21.43% +0.045p

0.265p +0.015p

Yesterday's bounce has more legs today looking at the volume and share price movement up

more to come from this undervalued stock

volume
LSE ---- 9M
ASDX -- 6M ( 30 minutes delayed )
total -- 15M+

all going to plan as buyers keep pushing the price higher
still well undervalued on a PE of just above 5

BREAKOUT

0.285p +0.035p

About time they marked the stock higher than they do at the moment

volume
LSE ---- 24.3M
ASDX -- 17.5M ( 30 minutes delayed )
total -- 41.8M

Yesterday's holding the stock back, has made WINS ( Market Maker ) at opening changing their mind and bidding from the start 0.29p.
this has change the others positions also and now all on the UP

edit - ISDX - delayed
26/06/2015 08:09 455,684 @ 0.30 - sell
26/06/2015 08:08 300,000 @ 0.306
26/06/2015 08:07 500,000 @ 0.303
26/06/2015 08:07 300,000 @ 0.306
26/06/2015 08:06 60,000 @ 0.30 - sell

Nice though this rise is - I hope this isn't getting ahead of itself!

0.27p (0.26 / 0.28 )

Since yesterday, there is volume, time to move forward. Market Makers are moving prices on the Level 2 though the price has not yet move. There is a 2M trade at ISDX paying premium 0.295p earlier

Buyers are back and now 2 MMs at bid 0.28p

more buys and now only 1 MM at 0.30p
last buy paying the top price 0.299

Moving forward once more

spread @ 0.30 v 0.33p
level 2
4 v 2

Lets repeat the fcast I made in JUNE

Full year to 31 july 2015
sales .............2.85M
Pretax profits 0.800M
E P S ............0.055p

If those figures were to be right, then the shares are well undervalued event on today's rise to 0.31p the PE is 5.6

note - Interims were in profits and the company said: "We expects revenues for the full year to be at least double that of 2014 based on current agreed business"

Bollinger Bands opening up on different direction >> bullish, the lasts time this happened the share price had a good run. The MACD has gone positive on moving over "0" at the same time

Pop!

0.335p

BREAKOUT all the way
breaking out of the previous Intraday high of 0.325p, the trades are showing confidence on the future of the company share price

ISDX trades .... BOX trades at ISDX

All looking good isn't it ?
V happy with the way this is going
Should see trading update etc., with the next 3-4 weeks imho, dyor etc.,

and at 0.38 v 0.40p

dummy sell for 1.5M is 0.39p

keeps rising and it must be plenty of delayed trades coming up soon 8.25am

Time for Profit taking? ...yes

I posted on another place - Today 10:22am price 0.40 v 0.42p

Looks like the MMs had pushed the stock far too much on the short term, and being end of the week now are marking the stock lower.

other reasons

Breakout do not last forever
Indicators at or close to overbought
The Share price is well over the upper Bollinger Band considered a reference of (sell )
with time will move forward again, has done this before looking a the chart
A good rise... profit taking, rise again and over the last time ..... profit taking and so on

A large drop to 0.315p earlier on, now 0.335p

ISDX trades .... BOX trades at ISDX

TIME TO MOVE FORWARD @ 0.32p

The trades are signaling the end of retracement that the Fibonacci 61.8% is at 0.32p

The 61.8% retracement @ 0.32p


the trend should continue

Nice to see the channel holding.

0.335p +0.005p

after being lower earlier with a very large volume

The triple bottom at 0.315p must be a record for holding the stock down

Dealing by Director

The Company has today received notice from Lord Timothy Razzall, the Chairman of the Company, that he sold 4,000,000 ordinary shares of 0.1 pence each ("Ordinary Shares") at an average price of 0.36875 pence per share on 14 August 2015 the "Sale"). Following the Sale, Lord Razzall now holds 76,965,986 Ordinary Shares, equivalent to 5.29% of the Company's issued Ordinary Shares.

a very late reporting 12 days, not happy about it

There was 120M trade 0.225p and later pass on to new owners, but it seems there was about 10M kept for MMs. last Monday

Since then there is plenty of shares to sell cheap and make a large profit for the MMs.

Some movement up today though not yet a big thing so far on the level 2

Late yesterday was starting to move as the overhang of the last week large trades were being absorbed.

But today is on the move now 0.385p +0.025p on 9.3M share traded

ISDX trades .... BOX trades at ISDX

Has gone over the upper Bollinger Band again, since there is no takers at this higher prices, so profit taking and so on

Nottingham's £16m Harvey Hadden sports village to open - 1 September 2015

The Harvey Hadden Sports Village has a pool that can host big swimming events
A new £16m sports complex is due to open to the public in Nottinghamshire.

The Harvey Hadden Sports Village, in Bilborough, includes a 50m eight-lane swimming pool, squash courts and a cycling circuit.
Nottingham City Council largely funded the project as part of its leisure centre programme which began in 2004.

Councillor Dave Trimble, head of leisure, said it could host international events and showed the city's position "as the home of sport".
"We've got a venue that can host competitions at all levels including international events, but at its heart is a fantastic facility for the community to use and for grass roots sports to flourish," he said.

The facility, which has already held the World Cerebral Palsy Games, will be opened officially on 12 September.

KEEP an EYE

@ 0.34p ( 0.33 / 0.35 )

A 78.6% retracement has reached bottom at 0.325p a bit earlier, large buys at that point

WATCH this Share

0.335p ( 0.32 / 0.35p )

Has hold at this price too long now, today is on the move up with plenty of trades already, so ready to push forward.

Trades are piling in and MMs moving prices higher, just needs bigger trades now

spread 0.32 v 0.35p
Level 2 is 4 v 1

The much desire bigger trade has happened 1M just now, no move on the price yet, but any overhang soon will be cleared
Paying higher prices on the smaller trades 0.345p earlier 0.34p
needs a MM on the bid 0.33p now

on the move again this time bid 0.33p, after paying almost full ask 0.349p

Has gone better twice
Has overhang finally cleared? lets hope so

MACD ready to go bullish now

from another place ..........

DROP and Name big names. Hippodrome Casino - learnt a lot about Casino Cash termainals and also remember this RNS : By StockMarketWire | Tue, 2nd September 2014 - 08:22 Boxhill says additional contracts have been signed with the next machine to be installed at the new HILTON PARK LANE Casino and EIGHT further sites have been agreed subject to contract covering many of London's most prestigious casinos.

now the Casino DROP figures for SIX high end london casinos:- £2,633,390,288. YES 2 BILLION. so take a 0.5% cut of that - £131million. Even my worst case is £26million.
----------
2) Casino drop and win data is provided by all casinos on a monthly basis, and shows
the amount of money exchanged for chips in a casino (‘drop’) and the amount
retained by the casino (‘win’). The data in the report is based on a rolling year
average showing figures for the previous twelve months.
----------
Publication name: Drop and win summary report
• Frequency of publication: Monthly
• Geographic coverage: Great Britain
• Geographic breakdown: Regional
• Purpose of publication: The data in the report is based on a rolling year average of
drop and win figures for casinos in Great Britain
• Source of data: Casinos in Great Britain
• Date of next publication: The report is issued on the last Thursday of each month
(unless otherwise stated)
• Casino Participation: The summary is based on data gathered from 146 operating Casinos

RESUME from " mrmrsmilton "

RNS - 14/05

· Total transaction volume growth within the Payments Division, on a like for like basis, of 374% for the six months ended 31 January 2015, with a positive trend continuing in Q3.
· The Company returned to profitability in the first six months and the early indications show Q3 profitability has accelerated.
· Net increase of 20 customers using the Company's payments technology in the 9 months to 30 April 2015

RNS - (1 Month later!!)

• Profitability for the three months ended 30 April 2015 exceeded profitability in the six months ended 31 January 2015.
• Management remain confident that out-turn for the full year will show revenue for the financial year ended 31 July 2015 being at least double revenue in the year ended 31 July 2014 based on current contracted business.
• The Company has interest from overseas operators in rolling out Casino Cash in other countries and expects to make an announcement in the next quarter with more details about Casino Cash.

Additional key points - my interpretation but DYOR!

• Double revenue from contracted business only - doesn’t include anything new (Domestic or Export!!)
• Payments Division - The -ve impacts of May June football betting is baked into the revenue/profitability expectations
• Cost base is predominantly fixed - incremental revenue = increasing profitability (absolute and ratio). Highly contributive revenue growth!
• RNS reads conservatively
• Soccordome topic still to come (Sale or JV)
• All trends point 1 way (upwards!)

In summary, the rerate should come with the next RNS. If your in for the short term gain ask yourself one thing…. if you just simply annualise the final month Revenue and profits… whats the impact on profitability growth in 2016…. then add domestic growth, then add export growth, then add the soccordome outcome, then remember it is all highly contributive to bottom line…. What have you got? I’ll leave you with that thought...

Trading update due possibly next week ( RNS stated update due by end of Q3 which is a week on Wednesday ) 10 days left

now up at both sides 0.365p +0.01p

Things are looking better........ early on the morning
MMs decided to give it another push finally, after the rush to buy as the market open

ISDX trades .... BOX trades at ISDX

slowly buyers are paying higher price for their purchases

Plenty of larger trades got the offer on the way up

and now twice the bid goes up the last one to 0.37p

Though the share price lost the early gain at the end of the day, it was only cuz the MM at bid 0.37p move to offer 0.38p after a few sells.

The buys 8.6M v 3.3M sells tells the story for the day ( LSE + ISDX trades ) the Market being so much down did not help the MM decision

0.35p - 0.015p

why unchanged for the day after being so well UP yesterday?
Though the share price lost the early gains at the end of the day, it was only cuz the MM at bid 0.37p move to offer 0.38p after a few sells.

The buys 8.6M v 3.3M sells tells the story for the day ( LSE + ISDX trades ) the Market being so much down did not help the MM decision

The late mark down yesterday, has work for the MM playing the game, and managed to fill some of the decimated book they had, after yesterday,s mostly buying, yes this morning some had panic from yesterday's late shenanigans and sold first thing this morning ( at ISDX ) and the further mark down got others doing the same.

But since the share price has bounce as the buys by 10am were already 2 to 1 but the share price was still down.

0.39p +0.02p

after being down on the morning , now is up with volume

uptrend continues

Cool!.. all looking good. just waiting for the news...there'll be lots of it when it comes! imho

all going on the right direction and is warming up again, it seems there was a 1.2M buy at over the ask price 0.38p paying premium and them another 1M by and the offer price 0.38p is gone to 0.40p

ISDX
01/10/2015 09:16 1,306,414 @ 0.382p

ISDX trades .... BOX trades at ISDX

BREAKOUT

this is a new high 0.415p lots of 1M trades and volume to 11.1M on LSE, some good volume at ISDX also

going places now 0.44p +0.065p (+17.33%)

0.44p +0.01p

early rising with volume "zak-mir" target 0.70p with in a month

HTTP://www.shareprophets.com/views/15446/zak-mir-s-bulletin-board-heroes-armadale-capital-aeorema-communications-boxhill-technologies-plutus-powergen-rare-earth-minerals-uls-technology

Looks like is going for 0.50p today
now 0.47p +0.04p

and a very good level 2 of 3 v 1

http://www.theel1tetrader.com/

Sold out

just did not manage to reach 0.50p, but close enough 0.49 v 0.50p

sold the two lots I had both bought at 0.34p from 7th and 15th September
1st one at 0.487p and the larger one at 0.48p

over 41.5% gain

0.45p =

WHERE TO GO FROM HERE short term?
Has been rising from 0.31 to 0.495p during the last month, That is a rise of 59.6%, now the share price has moved to above the upper Bollinger Band and Indicators at overbought position, as last Friday was not able to support the higher price it reached, the norm is to do the normal retracement, that this share price has done every time of such a rise.

Yesterday's chart

Bought back @ 0.39p

Had the desire 61.8% retracement and should be ready to go up again from this point.
BOX trades at ISDX

The much expected Update is out, but it seems the directors were too bullish last June and now comes the truth, from double revenues to only 40 to 50% increase, ( certain contracted business falling into the new financial year ) ............

Boxhill Technologies plc
Trading Update

The Board of Boxhill, the payment software and lottery group, is pleased to provide a post year-end trading update. For the year to 31 July 2015 the Company anticipates to generate an operating profit of between £600,000 and £650,000 on revenues of between £2.0m and £2.1m, based on unaudited management figures. The Company expects to publish its audited annual report and accounts for the year to 31 July 2015 in November 2015.

Revenues are expected to be 40-50% above last year, compared with previous management expectations of at least double. This has been due to certain contracted business falling into the new financial year that was anticipated to be in the year to 31 July 2015, which in turn has resulted in the current year getting off to a strong start. Operating profits continue to increase, not just compared with the year to 31 July 2014, but also comparing the second and first halves of the year to 31 July 2015.

HIGHLIGHTS
· Significant increase in channel sales partners
· Broadening spread of customers
· New casino games

Disappointment?

Would you be surprise if I say I was on reading the update?
Naturally the June update was over bullish on saying " at least double revenue ". Today's update say only 40 - 50%. My take is only only say so when...is " IN the bag "
Otherwise you get many shareholders with " egg on their face " and your credibility in tatters for the future. I hope they learn from this mishap

Now not all is lost if the NEW " contracted business falling into the new financial year " so it seems we will have to look ahead for better things to come instead on today's disappointment.

New forecast after the BDO update

Full year to 31 july 2015
sales .............2.090M
Pretax profits 0.637M
E P S ............0.044p

If those figures were to be right, then the shares are well undervalued @ 0.34p the PE is 7.9
naturally for next year already over 3 month on the book would be on a much much lower PE
note - total shares 1.448M

0.345p
After last week movement down share price managed to hold above the 50 days Moving average and Slow stochastic is reaching oversold,
Despite the negative RNS short term, the rest of the update was positive for the future
and after seeing the buys/sells leveling last Friday, lets see if the return of good times comes along soon. for the share price.

Remarks of Other old business not fitting with the new

there is directors baggage from previous companies such as Intabet, Media Corp, Purple Lounge etc, also the website is 2 years out of date and some of the links don't work, you will find information about some of these companies here ..... intabet.wordpress.com
------------------
The bounce is on
nice to see a rush to buy again at this low prices, second/third and now fourth movement on the share price
so the bounce is certainly on by the look of it

I was looking for my top up on this thread but I can not see it, I know I posted but it seems somewhere else.
Yes it was last Friday...800K @ 0.3495p, tried to get it cheaper, but the size ( MM 300K ) and T+20 was no difference, as on the phone the broker said even T+2 was the same price.

All the prices paid were at the same price 0.3495p

09-10-15 14:08:07 0.3495 100,000 O 0.3300 0.3500 Buy
09-10-15 13:58:50 0.3495 125,000 O 0.3300 0.3500 Buy
09-10-15 13:37:31 0.3495 50,000 O 0.3300 0.3500 Buy
09-10-15 13:30:05 0.3495 800,000 O 0.3300 0.3500 Buy

here it is ..

Top up @0.3495p
XXXXXXX Fri 14:12
did try to get it cheaper than the price I paid but maybe the 800K was too many above the MM size 300K

0.355p +0.05p
steady rise since reaching an intraday low of 0.31p last week, positive results due next month, and well undervalued stock for its growth and earnings.
Level 2 of 2 v 1 on a narrow spread of 0.35 v 0.36p

ISDX trades .... BOX trades at ISDX

0.38p +0.03p (+8.57%) after 0.395p

Further proof of the steady rise is now with bid and offer on the rise, as a few large trades are showing on the ticker.
and the 500K is the size that move the share price, steady as she goes, more 500K please
Market Makers must be short of them by now

is going places now

Joke
"At this rate I will be able to book Christmas Holidays early, and go early as well"

0.36p +0.01p

wants to move higher as there is plenty of support on the 50 days MA. Has been hold down for some time, still very undervalued by the profits forecast and growth propects

Looks much better today on no movement yet, but the price paid today 0.347p and 0.3475p is higher than yesterday.
yesterday after the marked down on the offer buying was at 0.3429p and 0.3444p

eventually it moved forward on both sides, then drop again and up again so finishing up on the day

0.36p +0.005p

paying full offer price 0.37p the last couple trades but still holding the offer at 0.37p, maybe is cuz are smaller size trades.

share pickers

http://sharepicking.com/boxhill-technologies-research-notes/

0.39p +0.03p
a rush of buying this morning after a podcast mentioning the stock

Http://www.sharepickers.com/atlas-development-and-support-services-ceo-carl-aspey/

The last trading update

The Board of Boxhill, the payment software and lottery group, is pleased to provide a post year-end trading update. For the year to 31 July 2015 the Company anticipates to generate an operating profit of between £600,000 and £650,000 on revenues of between £2.0m and £2.1m, based on unaudited management figures. The Company expects to publish its audited annual report and accounts for the year to 31 July 2015 in November 2015. Revenues are expected to be 40-50% above last year, compared with previous management expectations of at least double. This has been due to certain contracted business falling into the new financial year that was anticipated to be in the year to 31 July 2015, which in turn has resulted in the current year getting off to a strong start. Operating profits continue to increase, not just compared with the year to 31 July 2014, but also comparing the second and first halves of the year to 31 July 2015.

HIGHLIGHTS
· Significant increase in channel sales partners
· Broadening spread of customers
· New casino games

Payments Division

The payments division has made progress in developing sales channel partners in the UK, Europe and Australia giving access to a diverse range of customers across all types of e-commerce. The board of Boxhill believe that the potential value of these customers is significant and it is hoped that the Company will realise a significant uplift in revenues without significant increase in costs during the current financial year.

Sold at 0.38p+

went over upper Bollinger Band and Stochastic reaching overbought

Trading Update & Proposed Acquisition

The Board of Boxhill, the payment software and lottery group is pleased to provide a further trading update.

Payments Division

The payments division has seen healthy growth in Q1/16 managing a total of 106,000 transactions compared to 42,000 in Q4/15, helped by new customers in UK, USA and Europe bought in via channel sales partners. Value of transactions handled has increased from US$63,578 and €2,591,998 in the Period May-Jul 2015 (Q4) to US$2,296,335 and €5,716,809 in the period August to October (Q1). The Company still has further integrations to complete and is in line with its target of one new major customer per week.

The Company has agreed heads of terms to acquire Emex (UK) Group Limited, and the associated company, FreePayMaster Limited (collectively, "Emex"). Emex has developed software for peer to peer payments, money transfer and trade services, crowd funding and accounts for individuals and businesses, and is already a significant supplier to the Company's Payments Division (see www.emexpay.com and www.freepaymaster.com for further details). The transaction, expected to conclude in December 2015, is for a proposed consideration of 400,000,000 new ordinary shares of 0.1 pence and is expected to make a significant positive contribution in the current financial year based on servicing Payment Division's current contracted business. Longer term, the efficiencies from vertical integration and cross-selling will provide further opportunities for growth.

Emex have offices in Ayr and Malta and Boxhill is establishing legal entities in Malta which is particularly supportive environment for FinTech and Gaming businesses. A further announcement will be made on the Emex acquisition once the Company's due diligence has completed.

Casino Cash Machines

The acquisition of Emex and the subsequent structural changes unfortunately mean that the roll out of Casino Cash is once again delayed; however, the FreePayMaster software directly supports the back end and escrow management feature of the casino cash mode, and this is expected to expedite the roll out of the machines over the longer term.

Lottery Division

Prize Provision Services Limited ("PPSL"), the Company's lottery operating subsidiary, has recently introduced Paperless Direct Debit ("PDD") to all clients. PDD gives an improved quality of service to PPSL clients and offers efficiency benefits to PPSL through the elimination of much of the paperwork and postage costs associated with traditional Direct Debit and the administration around Standing Order payments, which will be phased out over time. PPSL Client feedback has been positive and clients will be further buoyed with the upgraded client administration area, with work due to be completed before the end of the year.

Soccerdome

Following the announcement of 30 October 2015 (definitions as per that announcement), the JV is making good progress in preliminary work associated with the financing and redevelopment of the pitches at HHSV. Works are expected to begin close to the end of the year and a late spring 2016 opening is being targeted by the JV.

Expected publication of 2015 Annual Report

The Board will publish the annual report and accounts for the year to 31 July 2015 in the first week of January 2016; this is a change from the previous indicated date due to the recent corporate developments.

Phil Jackson, Chief Executive, commented:

"The proposed acquisition of Emex, with whom we already work closely, brings both immediate savings (as they are a supplier, Boxhill fees are their revenues) and broadens our offer as an emerging player in the payment software, or FinTech market. With the further addition of FreePayMaster we are able to add innovative global payment methods to our portfolio. Having a base in Malta means we will be better placed to work with our customers and peers in a country that is geared towards both gaming and Fin Tech."

Have the company overpaid for Emex with 400M shares?

Those shares are worth £1.6M or 1/4 of BOX market cap, a point to take is RNS was not giving any revenues or profits from the company bought Emex.

No wonder some were taking profits or selling shares on the prospects that some of those shares are going to finish on the sale order on the future.

time will tell if they've overpaid for Emex... good update though... looks good for next year imo. Am staying in and have topped up today

Bought back in two tranches while there is a bit of overhang of shares on the market at below 0.357p

Taking advantage of the further drop this morning. The spread is small but the real spread is much smaller 0.347 to sell and 0.3566p to buy

Retracement almost done or close to the 76.4%. Bullish update yesterday for 1Q16 with results 1st week January.



ISDX trades .... BOX trades at ISDX

Boxhill Technologies To Acquire Emex In All-Share Deal (ALLISS)

LONDON (Alliance News) - Payments and lottery company Boxhill Technologies PLC on Wednesday said ...
Alliance News2 December, 2015 | 9:47AM Email Form
LONDON (Alliance News) - Payments and lottery company Boxhill Technologies PLC on Wednesday said it has proposed the acquisition of Emex (UK) Group Ltd and FreePayMaster Ltd in an all-share deal, adding the agreement will further delay the roll-out of its casino cash machines.

Boxhill said it will acquire Emex and FreePayMaster, the latter an associated company of the first, via the issue of 400.0 million shares. Boxhill shares were trading up 10% to 0.43 pence on Wednesday, giving the transaction a value of GBP1.7 million at that share price.

Emex has developed software for use in peer-to-peer payments, money transfer and trade services and is already a supplier to Boxhill's payments business. It has offices in Ayr in Scotland and in Malta, and Boxhill is establishing legal entities in Malta, which it described as a "particularly supportive environment" for the financial technology and gaming businesses.

The acquisition of the business will mean the roll out of Boxhill's casino cash machines will be delayed once more, though it said the FreePayMaster unit will directly support the back end and escrow management feature of the casino cash products, so should expedite the roll-out of the systems in the future.

"The proposed acquisition of Emex, with whom we already work closely, brings both immediate savings (as they are a supplier, Boxhill fees are their revenues) and broadens our offer as an emerging player in the payment software, or FinTech market," said Phil Jackson, Boxhill's chief executive, in a statement.
Boxhill also said its results for the year to the end of July 2015 will be published in the first week of January, later than initially planned due to the new developments.

0.365p +0.025p

is today deciding to move higher on a bigger terms, is moving up from the recent
retracement.

Possible RNS this month on acquisition.
RNS 1st week in January on final results.
Trading update due Feb/March for Q2 (Nov-Jan)

Will it do a triple bottom at 0.32p, had a another drop today after 2 large sells and currently at 0.31 v 0.34p

at the moment only 1 MM has come down on the offer, despite sells of 2M and later 1M

Market Maker size is 3 at 500K and 2 at 300K

Notice of AGM & Director's Details

Notice of AGM

Boxhill Technologies Plc (AIM:BOX), the AIM quoted lottery, software, gaming and leisure company, announces that the Annual General Meeting of the Company ("AGM"), is to be held at the offices of Allenby Capital Limited, 3 St Helen's Place, London, EC3A 6AB, commencing at 11:30 a.m. on Friday 29 January 2016.

The notice of AGM has been sent to shareholders of Boxhill and a copy of the notice of AGM is available on the Company's website (www.boxhillplc.com).

Director's Details

Philip Jackson, a director of the Company, has notified the Company that he was a director of 818 Limited when it was placed into liquidation on 24 February 2014 and had been a director of Media Corporation plc within 12 months of that company entering a company voluntary arrangement on 8 May 2014.

Suspended.

Answers on a postcard - Company Update, Internal Restructuring & Change of Year End

Hmmmm - Company Update and Board Changes

Company Update

The board of directors of Boxhill (the "Board") has made considerable progress since the announcement of 10 February 2016 (the "Announcement") on both the restructuring described in the Announcement and the integration of the newly acquired Emex (UK) Group Limited, and the associated company, FreePayMaster Limited (collectively, "Emex").

During the period of suspension of trading in the Company's shares, growth in the business has continued. The payments division has continued to win new customers across all areas of e-commerce. With the additional services provided by Emex, the Company can now offer a more complete set of traditional and alternative payment services to customers. As part of this expansion, the Company has established a new 100% owned Maltese subsidiary, Boxhill Technologies (Malta) Limited ("BTM"), to focus on the expanding Maltese payments and gaming sectors.

The Board is pleased to announce that having received confirmation of the appropriate licences, FreePayMaster Limited is today launching its new set of services, which includes accounts for individuals and businesses, peer-to-peer and alternative payments, access to foreign and crypto currency exchanges and wire and mass payment services. Beta customers are currently testing the systems with positive results.

Boxhill's former subsidiary, Pay Corporation Limited ("PayCorp") was subject to a consumer awareness notice by the FCA on 16 November 2015 regarding the alleged undertaking of activities that require authorisation by the FCA. The Company has been in discussions with the FCA as the activities of PayCorp were not of a nature that required authorisation by the FCA and any such notice was erroneous; the Board can to confirm that the FCA has agreed with this position, and the "Unauthorised" status of PayCorp has been removed from the FCA Register.

The Company's shares remain suspended from trading pending publication of its Report and Accounts for the 18 month period to 31 January 2016. The Board anticipates that it will publish the Report and Accounts before the end of May, and at that point will seek a return from the suspension of trading of its shares on the AIM Market.

Board Changes

The rapid growth of the payments business has inevitably required the Board to review the appropriate management structure to move the company forward. In order to continue building upon the momentum in the payments business already achieved, Phil Jackson will step down from the Board with effect from 20 May 2016 to concentrate on the development of the business, including the integration of the former PayCorp business into Emex, and the establishment and growth of FreePayMaster and BTM in Malta and other locations.

In order to drive growth and allow operational management the time to dedicate to the Company's commercial development, the Company will be introducing a structure with the Board overseeing an operational committee of the key management ("OpCom"). With effect from 20 May 2016, the Board will consist of:

· Lord Timothy Razzall - Executive Chairman
· Andrew Flitcroft - Finance Director
· Clive Hyman - Non-Executive Director
· Arno Rudolf - Non-Executive Director

Lord Razzall will temporarily hold the position of Executive Chairman while the Company seeks a new Chief Executive to help build the next stage of Boxhill's development. On the appointment of a new Chief Executive, he will revert to Non-Executive Chairman. Further details about the OpCom, which includes Phil Jackson and James Rose (who heads the Company's lottery operations), will be released in due course.

Clive Hyman joins the Board as a Non-Executive Director and brings with him over 30 years of experience as a financial professional, working with companies involved in many sectors and industries. Clive is a Fellow of the Institute of Chartered Accountants in England & Wales, having practiced at KPMG from 1983 to 2005, becoming a Partner in 1995. Since leaving professional practice, Clive has been a director of a number of companies, both quoted and unquoted, and brings significant expertise in matters of corporate governance, capital markets and business strategy.

more....

well well!
Life in the old dog yet.... sounds encouraging!

Final results for the 18 month period to 31 January 2016 & return from suspension

The board of directors of Boxhill (the "Board") is pleased to announce the final results for the 18 month period to 31 January 2016; details can be found below.

The Company is publishing its report and audited accounts for the 18 month period to 31 January 2016 to its website, www.boxhillplc.com, in accordance with the Company's article of association.

The suspension from trading of the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") on the AIM Market of the London Stock Exchange will be lifted at 07.30 am today and trading in the Ordinary Shares will recommence at 08.00 am today.

A further announcement regarding the reconvening of the Company's annual general meeting ("AGM") that was adjourned on 29 January 2016 will be made within the next two weeks.

For further information contact:

Boxhill Technologies PLC 020 7493 9644
Lord Razzall, Chairman
Website www.boxhillplc.com

Link here

In summary, for the eighteen months to 31 January 2016 the Group performance was as follows:

Revenue £3,286,000
Gross Profit £2,423,000
EBITDA £1,006,000
Operating profit before exceptional items £970,000

Exceptional Items:
Loss for the period on disposal of subsidiary (£430,000)
Loss on disposal of Leasehold Land and Buildings (£342,000)


Taxation charge (£205,000)

Loss for the period (£1,000)

Bought some just over middle price

0.155p (0.15 / 0.16p)

Update today positive and bullish by the revenues and profits. Level 2 bullish the bid side 4 v 1 on a small spread

BOXHILL TECHNOLOGIES PLC- Company Update

The board of directors of Boxhill (the "Board") is pleased to report first quarter sales are in line with expectations, reaching £571,000 coupled with a gross profit of £427,000 (both unaudited).

Lord Razzall, executive chairman stated, "The strong first quarter performance is encouraging and comes at a time when the company is completing significant improvements to our payment services. Along with the roll out of FreepayMaster, the payments division has agreed a partnership with Clickatell, the South African based industry leading SMS messaging service provider, which will allow customers to utilise certain features of the FreepayMaster payment platform via text messaging, particularly for access and payment authorisation.

Further, working with New York based CFP International, FreepayMaster has invested in servers on the SWIFT network giving access to the leading global supplier of secure financial messaging. This means that FreepayMaster will have its own SWIFT/BIC code thus improving the service and performance of payment platform for individuals and businesses. The underlying business continues to perform and we are looking forward to developing further new services focused on making it easier for people and businesses to pay for goods and services and send money on demand where they want to, when they want to.

In the lottery division, Prize Provision Services Ltd ("PPSL") continue to modernise their lottery systems to offer clients an improving service. Additionally, PPSL now have regionally based staff in the North West, Midlands and offices in the South which will enable them to meet more clients face to face in order to help grow their lotteries.

Further to the announcement of 2 June 2016, the Company maintains its position and believes that a positive outcome will be forthcoming.

Further updates will be released as and when necessary

0.165p +0.005p

Up on the bid by 2 MMs as 1M buyers are scooping the stock on their Portfolio.
markets can be down all over the World, but BOX is doing the right thing and moving higher

0.22p +0.03p

Boxhill to update on winding up petitions

Lottery product provider Boxhill, which received winding up petitions against the company and its subsidiary Prize Provision Services on 2 June, says it will be able to provide an update on the matter before the close of the market on 8 July.

Could this be BOX in court today???

COURT 14
Before MR R SPEARMAN QC
(Sitting as a Deputy Judge of the Chancery Division)
Thursday, 7 July 2016
At 2 o'clock
GENERAL LIST
Re a Company CR-2016-002928
Re a Company CR-2016-002929
Re a Company CR-2016-002925

After hours 5pm ............

Update on Action Against the Company

The Company is pleased to announce that the winding up petitions against both the Company and its subsidiary, Prize Provision Services Limited, previously announced on 2 June 2016, have today both been dismissed at the High Court in London.

A RESUME of the company business

The Boxhill Group has been trading for approximately 14 years and have gone through some major restructuring since, specially in the last year or so. Lets look at the company structure;

Prize Provision Services Limited, a wholly owned subsidiary of the Group is licensed by the Gambling Commission as an External Lottery Manager. Currently, PPS Ltd is operating The Weather Lottery, one of the UK’s oldest and most popular fundraising lotteries, raising over £5,000,000 for hundreds of good causes across the UK.

Casino Cash, which has been in the pipeline for some time, enables customers to use their national and international payment cards to acquire gaming chips to greater values than their ATM cash withdrawal limit. The process is simple and fast. The customer purchases a voucher from a Casino Cash terminal and redeems it at the cashier to collect their funds. The secure voucher system generates a unique single use voucher for every transaction. This will be a massive cash generator for the Group when rolled out.

Soccerdome, a wholly owned subsidiary of the Group holds a shareholding in Nineteen Twelve Holdings Ltd, a JV company set up last year own a Nottingham based football centre and operate five 5-a- side 4G football pitches and one 9-a- side 4G pitch. The venue is situated in the heart of Nottingham City Council’s £16,500,000 redevelopment of the Harvey Hadden Sports Village which reopened, refurbished and modernised, in September 2015.

Emexpay, the group's most recent acquisition is an Internet Payment Service Provider and will be the hub of core business going forward. The platform enables merchants to accept VISA, Mastercard, AMEX and other cards. They can also connect to any other payment card system, or e-wallet upon request and offer added fraud prevention with 3D secure processing if required.

Free Paymaster, a payment platform offering personal and business accounts which allow you to accept payments instantly and for free between members and provide a new low cost Payment option for eCommerce sites. You can transfer money instantly anywhere in the world for free, transfer money in any currency to any bank account 24 hours a day 7 days with no transfer limits, pay for goods and services worldwide with complete confidence using only your Free Paymaster username and password. You also get automatic access to their online market place where you can buy and sell goods, commodities or services, advertise your products, Chat “live” to your buyer or seller, bit like Ebay/Paypal

All of that for 0.24p or £5M

Possible range

0.215p +0.01p

For the last couple days, the buys have taken over and the 0.205p should be the low for the moment being after the retracement.



ISDX trades .... BOX trades at ISDX

0.235p +0.015p

Some large trades today 1M 2M and 5M (Paying premium) has now move up bid and offer, wonder if another delayed trade on the way

Looking good...must be news due

Yesterday was the AGM

a comment from someone who attended with compliments.............

I attended the AGM this morning. Here is a summary of what was discussed. Slightly disappointing that there were only four PI's there including me and Smudgedan. Then again, saying that, I don't think they could have accommodated anyone else! Phil Jackson gave up his chair at the table so we could sit; that was very nice of him I thought.

SUMMARY
CASINO CASH
Casino Cash is very much alive and having completed a successful pilot in various casinos around London (including Hippodrome) is undergoing further development prior to being offered to clients. PJ stated that they had significant interest from various different casinos already for the product. He also stated that the product is unique and its use is not restricted to just casinos but other establishment’s like, Gentlemen’s clubs Etc (Spearmint Rhino was mentioned as an example) I made the point that, the last Casino cash update was Dec 2015 and without regular updates, investors start thinking there is something wrong and suggested that maybe they should keep investors updated as to the progress in forthcoming trading updates; It appeared as this was agreed upon, we’ll see.

CEO APPOINTMENT
The board stated that discussions had taken place but wouldn’t disclose any more information on a likely candidate. They did indicate however that the CEO selection process was reliant on today’s vote of approval for the company’s executive Share Option Scheme. Of course the board have to be extra careful in what we were told at the AGM and we were mindful about asking any questions requiring price sensitive answers; there was no mention of option exercise price.
In relation to PJ stepping down; I think we all know that one of the reasons was because PJ had to be distanced due to his previous business dealings/associations; that’s no secret, and PJ himself also stated today that this was one of the reasons; however, the main reason was that he is a salesman and that is what he does best. In order for the company to grow, it requires a decent board structure. Lord Razzall said they were aiming for an American style board structure.

I would say new CEO already earmarked, and trading update very soon. Them saying discussions had taken place and waiting for the voting on options says something. Of course the new CEO would want to know that there are share incentives before they accept the position.

When asked about the timing of the next trading update, Lord Razzall and PJ (Both sitting on either end of the room) said "Soon" almost simultaneously!

a comment from someone who attended with compliments.............At the AGM

One of the pi's there asked if Freepaymaster was like PayPal. Phil Jackson replied "It's PayPal +"

If you go onto the Freepaymaster website and have a little browse, you will see in fact, it's more like Ebay/PayPal was having an affair with your Bank and produced a lovechild called Freepaymaster!

I can't remember if I've posted before that I opened a Freepaymaster personal account; I completed the online application and received an automated email requesting photo ID and a utility bill to prove address. I sent the documents which I already had stored on my laptop and went to sleep. At that point, I pretty much didn't expect to hear anything for at least a few days. To my surprise, the very next morning I received an email confirming account opening followed by another email giving me 3 separate account numbers (EUR-USD-GBP) together with IBAN & SWIFT numbers.

'Free Paymaster Ltd is an authorised licencee acting on behalf of CFS-Zipp Limited authorised and regulated by the Financial Conduct Authority as an Authorised Electronic Money Institution'

I asked about CFS-Zipp at the AGM and whether BOX had any plans to seek full FCA approval. PJ is a very clever bloke and tries to give an indepth explanation to every question that is put to him. My understanding from what he said is that, Freepaymaster will be seeking full FCA approval in the very near future.

Let's look at the current SP (0.25) and what that buys you;

Emex - Payment Gateway for Boxhill cutting out the middle man for payment processing. Boxhill previously paid Emex c £500k for this service.

Freepaymaster - Banking, P2P payments, Ebay like Marketplace Etc Etc

Casino Cash - A unique product that has the potential of being installed in Casinos and Clubs in London and many other major city around the world. The software provided by Emex now makes the roll-out of this possible.

Weather Lottery - Lottery operators licence, setting up and managing lottery systems for the past 14+ years. The business has been generating steady revenue and is now strengthened by the software provided by Emex.

Nineteen Twelve Holdings Ltd - JV Company established in 2015 to operate and finance the expansion of the site and is working with Nottingham City Council to open 5 and 7-a-side pitches at the Harvey Hadden Sports Village in Billborough, Nottingham.

How many other AIM companies can you think of that have so much going on, has been doubling revenues quarter on quarter??

Phil Jackson and Lord Razzall both stated at AGM that company update was coming SOON, and that talks had already taken place with potential CEO's and that this process was reliable upon the voting in of the new directors share option incentives.
Further to this, PJ specifically stated that the chosen CEO will have to be a heavyweight in the banking/ecommerce sector.

In my opinion, expect to get news about new CEO and a trading update in the next week or so.

Company Update

The board of directors of Boxhill (the "Board") is pleased to report first half sales are in line with its expectations, increasing by 13% to £1.125 million (1 Feb 15 to 31 July 15 £0.993 million) delivering a gross profit of £828,000 (1 Feb 15 to 31 July 15 £780,411) and an operating profit of £301,600 (1 Feb 2015 to 31 July 2015 £323,000). These figures are unaudited and extracted from the management accounts. The Board expects to announce the full accounts for the 6 months to 31 July 2016 in September.

Lord Razzall, executive chairman stated, "The first half performance is encouraging and comes at a time when the company is only just starting to realise the benefits of the acquisition of Emexpay and Freepaymaster. As we continue to invest in staff and technology we have seen an increase in overhead to £527,000 (1 Feb 2015 to 31 July 15 £457,000), however the Board has managed to minimise the impact on the operating profit, and the business is operationally geared to expand sales on the current level of overhead.

Emexpay has bought about cost savings and an ability to review and renegotiate terms with our acquiring banking network, thus improving gross margins and opening up new opportunities in the credit card processing business."

Working with our New York based partners CFP International, Freepaymaster is now part of the SWIFT network and will soon be able to issue virtual individual IBAN (international bank account numbers) to existing and new customers - ensuring that sending and receiving payments is as smooth as possible. Freepaymaster is also piloting a number of innovative applications including enhanced services for existing Emexpay credit card merchants, in particular with speeding up settlement cycles; encouraging users to engage in peer to peer payments thus creating an alternative payment channel within our own financial ecosystem, in most cases avoiding credit card processing charges altogether. We are continuing to develop the platform with mobile devices as the key focus area and adding technologies which support users who want secure payment services available on their mobile devices.

In the lottery division, Prize Provision Services has acquired new clients while continuing to update the underlying technology supporting the Weather Lottery. The bulk of the back office technology updates have now been completed allowing the company to begin rolling out improvements across the business. In Q4 2016 the company will introduce direct bank payment to replace traditional cheque payments and is due to deliver client administration upgrades in addition to a new customer facing website.

Further updates will be made by the Company as appropriate.

After the ups and downs and going nowhere, today is moving higher 0.215 +0.02p ahead of results this week.............


"The Board expects to announce the full accounts for the 6 months to 31 July 2016 in September."

0.245p +0.02p (+8.89%)

Is rising nicely since yesterday, there was rumours yesterday of " Neil Woodford" to be appointed as the new CEO at the same time as the results are being announced

Half-Yearly Report for the period ended 31 July 2016

29 September 2016

Chairman's Statement
The half year to 31 July 2016 has seen revenue grow 13% to £1.125m (£0.993m in the six months to 31 July 2015) delivering an operating profit for the six months to 31 July 2016 of £296,000. This compares to an operating profit of £330,000 for the six months ended to 31 July 2015.
The first half of the year has seen some additional administrative expenses through increased board size and ongoing costs of integrating the two companies acquired at the beginning of the year. Having said that we see a 39% improvement in comprehensive income, rising to £288,000 (from £206,000 in the first half of 2015) due to no corporation tax being chargeable.
As the Company moves forward it is now able to invest in strengthening the teams that are responsible for delivery, and we have appointed a new Head of Finance, reporting to Andrew Flitcroft, the Company's Finance Director, who will be tasked with unifying financial organisation within the Company. Additionally we are continuing to look for a new CEO and will update as and when appropriate.
The Company continues to improve its existing products as well as developing new services. . The Company has changed the name of its subsidiary Freepaymaster Ltd to Emex Technologies Ltd with effect from 26 September in order to simplify the payments division branding. Our growing network of corresponding financial institutions means that Emex Technologies Ltd will soon be able to issue virtual IBAN numbers to companies and individuals making the use of our alternative payment platforms as familiar as using an everyday bank. Integrating the Freepaymaster.com platform with our credit card gateway, means faster settlements and lower costs for our existing clients, plus our merchants can offer their customers an increased number of simple and safe ways to deposit and withdraw funds. As stated at our annual general meeting, we intend to market Casino Cash in due course, subject of course to market conditions, the Freepaymaster.com platform enabling us to manage the real time balancing of funds for casinos in order to satisfy gambling regulatory requirements.
Prize Provision Services Limited ("PPS"), which operates The Weather Lottery, has seen significant positive change over the past quarter. Although trading decreased slightly, it has begun to make improvements across the business with many more due to be introduced in the next six months.
In August, the PPS introduced revamped marketing communications with its clients. Early indications suggest a positive impact on player numbers and the company will develop the strategy over the coming months. In addition, marketing, sales and account management will be given greater resource in order to increase sales revenue. There is a small increase in insurance tax (9.5% rising to 10.0% on 1 October 2016) which will increase costs slightly, but following on from the launch of Direct Debit as a payment method for players, the company will introduce direct bank payments for clients before the end of September which will offset this cost.
Direct client payments are the first of a number of improvements which the clients will see. A revamped admin centre which will give clients a greater understanding of their lottery and allow clients to self-serve in a number of areas, is in production and due for release in October.
In conjunction with greater educational support being offered by the company, the self-serve elements of the revamped admin centre is expected to drive an increase player numbers for many clients.
The joint venture between Soccerdome Ltd and Nineteen Twelve Holdings Ltd (the "JV") which sees Astro Kings Ltd operating the football pitches at the Harvey Hadden Sports Village in Nottingham is in the embryonic phase. The ground is open and marketing activity being carried out to raise awareness of the facility and ultimately increase sales.
The JV is expected to reach breakeven in early 2017 with only minor financial support, if any, needed from the Company in the interim.
Boxhill's payments division has a healthy sales pipeline and the Company is actively looking at new opportunities as they occur in our dynamic market. The Company's goal is to continue to develop or acquire best-in-class payment and related software whilst maintaining positive revenue growth.

Acquisition of Timegrand

Further to the announcement of 10 February 2017, the Company has today completed the acquisition of Timegrand Limited, a recently incorporated special purpose vehicle ("Timegrand"). Timegrand holds intellectual property, software and knowhow including a new 10-year licence, granted on 10 April 2017, to use an advanced payment gateway software system called the WPJ Services Control Center, with advanced analytics and security/fraud management as well as finance and administration services (the "Acquisition"). The software and knowhow this acquisition brings will help improve processes and turnaround times for our administration and reconciliation activities and internal reporting capabilities. Boxhill is already using certain elements of the software suite, as are several of its customers, and the benefits have proved to be significant. The Acquisition is being made to further enhance the offering of the Payments Division and will include gateway processing software with enhanced reporting capabilities, fraud management software and finance and administration Services bringing about improved efficiencies between our delivery and internal finance functions. Timegrand has no trading record and the licence to use the WPJ Services Control Center software is newly issued, thus no profits or losses are attributable to the assets being acquired. The directors of Boxhill estimate that, in addition to the significant time that would be required to develop the software, the cost to replicate the software provided as part of the acquisition of Timegrand Limited approximates to the consideration payable.

The consideration for the Acquisition is £1,000,000, through the issue of 500,000,000 new ordinary shares of 0.1 pence in the capital of the Company ("Ordinary Shares"), at a price of 0.2 pence per share (the "Consideration Shares"). The Consideration Shares will amount to 21.22 per cent of the enlarged Ordinary Share capital of the Company. The vendor of Timegrand is Empire Global Management Limited ("Empire"), a company incorporated in Dubai, which has been granted licensing rights by WPJ Services ApS, a company incorporated in Denmark that created the WPJ Services Control Center software. Empire has entered into an agreement with the Company to not sell or encumber any of the Consideration Shares for a period of 12 months without the agreement of the Company (subject to exceptions equivalent to those set out in Rule 7 of the AIM Rules for Companies). Empire is owned by a number of shareholders, none of whom would constitute a Person with Significant Control (as defined in the Small Business Enterprise and Employment Act 2015) if it were a UK registered company.

An application will be made to admit the Consideration Shares for trading on the AIM Market with effect from 14 April 2017. Following the issue of the Consideration Shares, the Company will have a total of 2,355,829,770 Ordinary Shares in issue. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. Following the issue of the Consideration Shares, the following notifiable positions of Ordinary Shares are held.

more.....

AGM Trading Statement

Further to the earlier announcement by the Board of Directors of Boxhill (the "Board") regarding the final results for the 12 month period to 31 January 2017; the Group is pleased to give the following trading statement.

Since January 2017 the Group has seen improvement across the Payments Division, both in revenue and technology roll out.

In July 2017 EmexGo started issuing Virtual IBANs meaning that its customers are able to supply their account information in standardised international bank account format, with the customer as the named beneficiary, to receive inward payments. Available in multiple currencies this important improvement makes our services user friendly and therefore more attractive to those wishing to use alternative payment platforms by utilising internationally understood account formats which other providers are unable to do.

Further to this we have launched a high value transfer service, facilitating transactions in excess of €10,000,000 for corporate and individual customers. The service, driven by customer requirements, takes into account the additional care and attention that such low frequency but high value transactions require to complete smoothly. We expect at least one high value transfer per quarter and are currently working on several transactions, including one of a nine figure value and is currently being executed via a novel secure process through the banking system via EmexGo with the final destination being a UK tier 1 high street bank.

The card processing business is making good progress once again with new services including offering merchants Union Pay acceptance as well as Visa and MasterCard services. Our combined offering of card services and Virtual IBANs is being taken up by customers as we can reduce the time for settlement improving cash flow and saving money for our merchants.

Revenue from EmexGo in the first half of the year has already exceeded last year's total (excluding the fees to be earned on the above mentioned high value transactions) and we anticipate the card processing revenues to grow as in previous years and expect to see growth and momentum return to above H12016 levels through the second half of the year. The Company continues to seek a high-calibre chief executive to help it grow into the future.

Up 20% or as we call it - the spread!!

Half-Yearly Report for the period ended 31 July 2017

Chairman's Statement
The half year to 31 July 2017 has seen significant balance sheet improvements despite a reduction in revenue (£559,000 H117 versus £1,125,000 in the six months to 31 July 2016) delivering an operating loss for the six months to 31 July 2017 of £358,000. This compares to an operating profit of £288,000 for the six months ended to 31 July 2016. The operating loss is somewhat offset by the revaluation of equity investment in Timegrand which takes Total Comprehensive Income for H1 2017 to £141,000. (£288,000 in H1 2016).
The first half of the year has seen continued investment in technology roll out and regulatory and compliance management in the payments division. Unfortunately certain planned H1 revenues have slipped into H2 due to circumstances outside the group's control. Having said that, the independent assessment of Timegrand has valued the software at £1.5m contributing to a 27% improvement in total assets rising to £3,641,000 (from £2,848,000 in the first half of 2016).
The Company continues to expand its geographical reach and roll out new technologies. In H1 2017 we have successfully launched multi-currency vIBANs (virtual international bank account numbers) for individuals and corporations and introduced SMS based two-stage verification of payments from accounts. The total number of accounts is increasing steadily with over 2000 registered users. EmexGo account users have the unique ability to fund by, and pay out to, any card from any issuer world wide.
EmexPay, the credit card processing business, has seen growth in revenues growing at an average of 95% per month as customers reintegrate after the disruption to services last year - and this trend is expected to continue throughout the year. Additionally, new China Union Pay facilities agreed in September opens up further opportunities for existing and new merchants to access what is the largest card payment organisation in the world.
The Emex branded companies have been present at a number of key trade and specialist industry events, including recent attendance at SIBOS (Swift International Banking Operations Seminar) in Toronto and they will be exhibiting at Sigma (Summit of iGaming) in Malta in November.
Our network of corresponding financial institutions continues to grow with new key relationships in Europe, Africa and the Caribbean. New licence applications are in progress in Mauritius and central Europe, both of which are due to be granted in the very near future, improving our ability to deliver services worldwide.
Prize Provision Services Limited ("PPS"), which operates The Weather Lottery, is operating as expected and in line with projections. PPS has recently launched the Sports Club Lottery http://sportsclublottery.com, a sister product to The Weather Lottery, which is focussed solely on helping local sports clubs raise additional funds through the operation of their own subscription lottery. Additional account management staff have been hired by PPS and tasked with increasing participants playing the lotteries which the company administers on behalf of its clients.
Soccerdome Ltd holds a stake in Nineteen Twelve Holdings Ltd, the owner a 5-a-side football centre in Nottingham, operated by Astro Kings Ltd. As outlined in the Full Year Results published 7 July 2017, the football pitch business is no longer considered an operating segment of the Group. The venture faces strong competitive challenges following the expansion in number of all-weather pitches available in the region over recent years. Naturally, this has led to a highly competitive marketplace. The directors do not expect there to be any significant impact upon the group from this venture.
Boxhill's payments division has a very healthy sale pipeline with a number of significant transactions in progress which are expected to close in the coming few weeks which will yield revenues well in excess of the entire business H1 revenues.
Finally, the company is pleased to announce that all historical legal matters have successfully been bought to a close.

Update on New Service & Litigation



Update on New Service

The Company announced on 28 July 2017 that it was launching a new high value transfer service facilitating transactions in excess of €10,000,000 for corporate and individual customers ("HVTS") by its wholly-owned subsidiary, Emex Technologies Limited ("Emex"), a regulated payment processing business, utilising the emexGo payment platform ("emexGo"). While HVTS has not generated any revenue to date, it is a service that the board of directors of Boxhill (the "Board") anticipate will produce significant revenues in the future and provide for a substantial increase in the monies passing through emexGo, a key focus of the Group. Emex receives ad valorem fees on all monies through emexGo (the "Processing Fees").

The development of HVTS has involved substantial investment. It has been agreed that part of this investment will be funded by Phillite D UK Limited ("PDU"), a company which between December 2014 and November 2016 undertook certain regulated payment processing activities on behalf of the Group. PDU will market HVTS to its clients as part of its offering of payment services, charging fees independently and not receiving any share of the Processing Fees. PDU's share of the investment costs (circa £1,434,000 has been claimed from PDU to date) will be met from future receipts secured by PDU on HVTS transactions where PDU will in some circumstances be acting as the principal and other circumstances as an agent. PDU's share of the investment costs are currently represented on the Boxhill balance sheet as a trade receivable (the "Agreement").



Update on Litigation

As announced on 31 October 2017, the historic legal matters surrounding the Company's relationship with its former regulated payment processor, EU Pay Group Limited ("EUPay") has been settled without any adverse cost implications. PDU has independently of the Company taken responsibility for the amounts owed by EUPay to the Group (the "Arrangement"). As a result of the settlement, PDU is now in a position to pursue the collection of these amounts without any hindrance from the now settled litigation. This will facilitate the repayment of the amounts outstanding to the Group (circa £224,000) under the Arrangement.



Related Party Transaction

PDU is controlled by Philip Jackson, who is also a director of Emex Technologies Limited and Soccerdome Limited which are wholly owned subsidiaries of Boxhill. The Agreement constitutes a related party transaction under the AIM Rules. The Board consider, having consulted with Allenby Capital Limited, the Company's nominated adviser, that the terms of the Agreement are fair and reasonable insofar as Shareholders are concerned.



Revaluation of Timegrand Software

Further to the announcement of 31 October 2017, the Company contracted an independent expert to undertake a valuation of the intangible assets included in the Timegrand Limited acquisition (announced 10 April 2017) in consultation with its auditors. The increase in the value of these intangible assets, which principally consists of software, announced on 31 October 2017, reflects the outcome of this independent valuation.



Search for New Chief Executive Officer

The Company confirms that it continues in its search for the best candidate to perform the chief executive officer role for the Group.

Goodness knows whats going on here!

Trading Statement

Not dead yet....

Trading Update

Boxhill provides an update on recent developments.

The Company is pleased to announce the win by its subsidiary, Prize Provision Services Limited (which operates the Weather Lottery), to operate a lottery for one of the UK's largest membership organisations, with over two million potential participants. The membership organisation is investing a six-figure sum in internal marketing to drive its membership to contribute to its charitable arm which supports its members in a number of activities. With the investment in marketing it is expected to see a substantial uplift in lottery lines played and we look forward to reporting on the progress over the coming months.

Reorganisation of the payments business following the sale of the Emex Group has involved a refocus on more mainstream clients and markets within Market Access Limited ("Market Access"). This finds the payments business in a more competitive arena, where margins are lower, and this will be reflected in the first half results. The reduction in revenues reported on 12 July has continued at the same level while the reorganisation continues, with further declines in payment processing being offset by a rise in foreign exchange business. However, we believe that in the long term the reorganisation will enable us to produce a growth pattern that is more stable than we have seen in the past.

In implementing this reorganisation, Market Access has made progress across all areas of operation. It has launched its Market Access treasury services platform with a small number of Beta clients testing the cross-border payment and foreign exchange functionality. The full suite of services (including FX, Treasury, Compliance and Risk Monitoring) is expected be ready in November, with an initial tranche of approximately 30 corporate clients already in the approval cycle.

Refocused credit card processing services are now in place and the first few merchants are going through the approval process and we expect this to contribute to revenue from November 2018. We have partnership agreements in place with a number of key acquiring banks and other suppliers in Europe, the Far East and North America.

Market Access is also working on several card issuing opportunities - with two medium sized programmes in development - both of approximately 5,000 users each.

Also, in July, The Board announced the separation of the provision of payment services to Non-Conforming Customers from the rest of the Group through the sale of Emex (UK) Group Limited, Emexconsult Limited and Emex Technologies Limited to MDC Nominees Limited.

The consideration for the purchase of Emex was £2,000,000, satisfied through the issue by MDC Nominees Limited of a Loan Note to the same value, with a 10-year term. Repayment is to be by way of the establishment of a sinking fund into which the net revenues of Emex resulting from the customers left in place at the time of the transaction or any new Non-Conforming Customers (as defined in the announcement of 12 July 2018) referred by Market Access, the referral of which is expected to commence in November as part of the full set of Market Access services. The delay in establishing the Market Access payment processing platform, which, as mentioned above, is due to go live in November, has prevented the processing of Non-Conforming Customers on behalf of MDC Nominees Limited as well its own customers. As a consequence, no payments have yet been made into the sinking fund by MDC Nominees Limited.

Work continues to satisfy the auditors on the one outstanding item and shareholders will of course be notified as soon as the audit is completed. Trading in the Company's ordinary shares of 0.1 pence each remain suspended on AIM pending publication of the Annual Report and Accounts and its half-yearly financial results for the 6-months to 31 July 2018.