anyone holding, any thoughts on this share as i see city equities are buying up stock for clients

I would be inclined to read it that way ..... always wary when they talk about doing the market a favour


ains

Anyone got any comments on todays RNS?

Great forward statement - not sure what the capital reorganisation means

Hi ains,

Agreed, cant get my head round the reoragnisation bit. What unissued shares?

I will have to look at the ann in detail later on - just been reading the ME edited stuff ... market doesnt seem fazed by it - 3rd best riser overall at plus 26%


ains

(AFX-Focus) 2003-02-19 07:40 GMT: Cybit Holdings sees FY revenues around 5 mln stg, to hold EGM on March 13
LONDON (AFX) - CybIT Holdings PLC said it expects to post revenues of around 5 mln stg for the full year to March 31, 2003.
"Cybit has continued to win significant new contracts over competitors and repeat orders from existing customers," it said in a trading statement.

"This has helped the company to develop a growing forward order book that will underpin first half performance in the next financial year," it added.

Furthermore, the company announced it will hold and extraordinary general meeting on March 13, 2003, to discuss the reorganisation of the company's share capital.

The nominal value of an ordinary share will be reduced from 1 pence to 0.1 pence by sub-dividing every issued share of 1 pence into one ordinary share of 0.1 pence and one deferred share of 0.9 pence and sub-dividing each of the unissued shares of 1 pence into 10 ordinary shares of 0.1 pence.

If these proposals are passed they will "provide the company with greater flexibility in financing its future, as it will afford the directors the authority to issue shares of the company for cash to prospective investors, if opportunities to do so arise," said the company.

newsdesk@afxnews.com

Posted elswhere by gerrym,

This is not dilution according to Cybit or Seymour Pierce. I have just spoken to both of them.

They both assured me that the move is a technical one and does not affect the market value of existing shareholdings or the amount in value terms of the shares they are currently authorised to issue in future.

The reason is as follows.

The 'market' value of an ordinary share has now fallen below the 'nominal' or 'par' value of the stock, which was 1p.

It is ILLEGAL for the company to issue shares at a value below the 'nominal' or 'par' value of the stock, so they have had to reconstruct the share capital in a manner that brings the nominal value down to 0.1p i.e. below the market value.

From Nasdaq





LSE opening - CybIT edge up after upbeat trading statement



LONDON (AFX) - An upbeat trading statement gave an early boost to CybIT Holdings. The company said it expects to post revenues of around 5 mln stg for the full year to March 31, 2003.

"CybIT has continued to win significant new contracts over competitors and repeat orders from existing customers," it said in a trading statement.

"This has helped the company to develop a growing forward order book that will underpin first half performance in the next financial year," it added.

CybIT shares were 0.07 pence firmer at 0.42 by 7.40 am.

fjb/vjt/

sounds about right - same sort of thing happened to Tads recently

rumours of demand for this share as well anybody go or get any feed back from meeting the other day

anyone with news on this, seems to be in freefall as such, mostly buying with low vol

Check out the Broker's note from Seymour Pierce:

http://www.seymourpierce.com/pdf/Cybit_April2003.pdf

Once the headline figure of an estimated 800% increase in revenues to 31/3/02 becomes more widely known, I'm sure a number of others will recognise that, just as they say, this great little company is "undervalued", with excellent prospects.

They also make an interesting comment at the end of the research note, "Within two years the management have grown the business from virtually nothing and we see no reaon why its client base should not continue to expand. Looking forward Cybit will have to be a consolidator or be consolidated. Our prediction is the former."

Strikes me as a not too subtle hint that they may be planning some further acquisitions (would fit with the recent changes in share structure). Also I find it encouarging that, in order to conserve cash, the management have agreed to take part of their renumeration (I estimate approx 184,000 worth) in shares.

49 mil traded today not a mention anywhere seems strange that, not a lot in money but still high volumne and recent broker reports upbeat, makes you think something is a foot, i have mil or so of these so hopefully good times ahead

On the move again today - low volumes so far but two market-makers have upped their bid-price to .4p

Expecting a serious move northwards as results date nears (end of May, beginning of June)

up again rumours are abounding about this share volumne rising steadly reports of interest from other quarters of sector nothing confirmed of course
remains to be seen i hold bought with profits for long term

up again must be a few people holding,anyone with any thoughts ?

another

Interesting company. I do know of a major communication company with a really substantial fleet who are considering the product. Staff aren't too keen (what a surprise!) but company is very much project based, and has problems with staff abuse/fraud as it is so huge - so ideal, to ensure max reduction!

Completed the next 6 month trading period on 30 Sept, so interim results should be out hopefully soon (last year 14 Nov). Results should be good, but the 2 half of the year should be better!

Should be a good long term buy!

Interesting day for this share!