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Everything But The Music (EBTM)
trigger45 - 04 May 2006 02:25
Is this the next ASOS?
This could be an opportunity to get in early as the company builds on it's web presence and sales. Very few people are aware of this one and it is only now that they are starting to get noticed in the national press after achieving record sales in the run up to Christmas.
The company sells music related fashion to customers who want to get "the look" of their favourite bands.
With internet retailing growing at the rate it is and the massive market for this type of product, in time this could be a real winner.
www.ebtm.com
RNS Number:3459C
EBTM PLC
03 May 2006
EBTM PLC
3 May 2006
EBTM Plc
TRADING UPDATE - APRIL SALES 60% HIGHER THAN DECEMBER 2005
The Board of EBTM Plc, the AIM quoted online retail operation, announces that trading in the period to end April 2006, its year end, was above expectation.
The Company has integrated rapidly into the former e-retail business and its management is currently expanding its warehouse and distribution facilities and systems.
It also reports that sales in April were some 60% ahead of those of the previous record month of December 2005, encouraging the Board to be confident of achieving its current expansion plans.
Chairman Mark Watson-Mitchell commented
"The sales figures for April were excellent, way ahead of our previous record month, which was that leading up to Christmas 2005. Since March the Company's management, under Richard Breeden and Grant Calton, has moved apace in getting to grips with creating its ability to cope with the significant sales increases that are a major part of the expansion strategy."
For further information:
EBTM PLC 020 8704 0034
Richard Breeden (Chief Executive) 07973 563 529
Notes to Editors
EBTM Plc (AIM: EBTM) is the result of the reverse acquisition of e-retail plc in February 2006. That company acquired EBTM Limited, which was formed in April 2005 as a new online specialist retailer of music merchandise and related clothing and fashion.
The online retail operation, EBTM.com, was launched in July 2005. It currently sells licensed products from over 175 bands (from The Rolling Stones to Razorlight, from Bob Marley to Motorhead). Products include clothing, jewellery, bags and shoes. EBTM also sells several a range of associated fashion brands, (which have an association with music), including Atticus, Vans, Eastpak and Amplified.
EBTM continues to broaden and expand its sales retail offering and, over the coming months, will continue to develop its branded fashion offering.
This information is provided by RNS
The company news service from the London Stock Exchange
END
A bit more info found by foo ninja on the iii discussion board.
The man who's got the T-shirt
By Emma Vickers
3 March 2006
Retail Week
English
Copyright 2006. EMAP plc. All rights reserved.
Newly floated e-tailer EBTM is convinced band T-shirts and posters can be big business. Emma Vickers meets founder Richard Breeden
In his City-boy uniform, EBTM chief executive Richard Breeden looks more anything, rather than everything, but the music - the name of his recently floated internet fashion business.
His sharp suit, expensive watch and blue and white striped shirt are a far cry from the Led Zeppelin and Iron Maiden T-shirts that comprise the site's bread and butter. But, following the 1.5 million reverse takeover of EBTM by AIM-listed consultancy E-retail on February 3, the ex-dance music fanatic must play to an audience of investors to persuade them that music-inspired clothing has room for growth and, more importantly, that he is the one to lead it.
Breeden outlines the premise of EBTM a week after the deal. He looks tired and speaks quickly, giving the impression that he delivered the same spiel repeatedly in the weeks before and after the takeover.
He says: "We are an online-only retailer of music-related merchandise and product. The retail concept is that music is a key driver of lifestyle. The music that you listen to defines not only the clothes that you wear, but who you hang out with and where you hang out - a large part of what you do. We're trying to provide an access to that lifestyle to people that like certain types of music."
The web site sells T-shirts, accessories, jewellery, footwear and posters. It caters for fans of genres from metal, indie, rock, punk to urban. It has 40,000 registered users - 60 per cent of whom are men.
A heavy metal fan browsing the site would be able to pick up a T-shirt with the logo of Bullet for My Valentine and a co-ordinating monogrammed bullet-shaped pendant.
The appeal of the offer is arguably limited to moody teenagers listening to grungy music in their bedrooms. However, Breeden cites the broader and more affluent 16- to 29-year-old age range as his core customer base and EBTM's average basket size of 26 backs this up.
Breeden says one of the challenges he faces is widening the appeal of the site and he has plenty of ideas to do this. He intends to include more fashion to allow fans to get the look of their favourite singers. Although this is a sales device used heavily by online fashion retailer Asos, EBTM customers are more likely to want to ape the style of Babyshambles singer Pete Doherty than his ex-girlfriend Kate Moss.
The site will also stock the growing number of clothing collections designed by musicians themselves. In March, it will start selling the Adeline clothing collection designed by Green Day frontman Billie Joe Armstrong. Breeden points out that licensed product is becoming more important to artists because the revenue they once got from CDs has been hit by internet piracy. He says: "It's leading to better product development."
His goal for EBTM is to have a fashion-led homepage, with links to a broadened range of music genres, including pop. However, music fans are renowned for snobbery - would a Motorhead fan buy a T-shirt from a site that also, for instance, stocks a cosmetics range by J-Lo?
Breeden says: "It's something we're very aware of. It's not just J-Lo, it's the difference between metal and indie. But that's one of the beauties of the internet: because it's so flexible, you're able to create environments for each genre. It's not a concept you can deliver in a shop, because once you're in a shop that's the environment you're in."
Though he has limited retail experience, Breeden has more than proved his entrepreneurial credentials. At university, he channelled his passion for dance music into organising gigs and club nights. On graduating, he lived every music lovers' dream - after stints of work experience he was offered a job with EMI.
Within six weeks, he was running his own label. He says: "I spotted an opportunity - they had a (dance music) label called Tribal America and I persuaded the owner to let me set up the UK side. We became very successful. It's fortunate, but there was an opportunity and we built a fairly significant business pretty quickly."
After eight years at record labels and an MBA en route, he ended up working for merchandiser Blue Grape. He explains: "Merchandisers sign bands in the same way that a record company does. They'll go out and pay in advance to acquire rights, but instead of acquiring record rights they acquire what are effectively visual rights. The right to use the logo and all that kind of stuff."
It was while working here that the idea for EBTM was born. Breeden says: "I spent a long time looking for the right opportunity - when I say looking for, I mean sitting down and thinking it up."
He set up the business in January last year and was dealt the attention of EBTM's retail trump card in the form of executive director Quentin Griffiths, who founded and remains a stakeholder in Asos.
As well as expanding the breadth of product offer, EBTM is driving hits through print advertising in specialist titles such as NME and Kerrang. Recent coverage in Heat magazine helped drive sales of a studded Rolling Stones T-shirt and bring EBTM to the attention of a more mainstream customer base. Then, unlike Stones frontman Mick Jagger, Breeden will be satisfied.
This could be an opportunity to get in early as the company builds on it's web presence and sales. Very few people are aware of this one and it is only now that they are starting to get noticed in the national press after achieving record sales in the run up to Christmas.
The company sells music related fashion to customers who want to get "the look" of their favourite bands.
With internet retailing growing at the rate it is and the massive market for this type of product, in time this could be a real winner.
www.ebtm.com
RNS Number:3459C
EBTM PLC
03 May 2006
EBTM PLC
3 May 2006
EBTM Plc
TRADING UPDATE - APRIL SALES 60% HIGHER THAN DECEMBER 2005
The Board of EBTM Plc, the AIM quoted online retail operation, announces that trading in the period to end April 2006, its year end, was above expectation.
The Company has integrated rapidly into the former e-retail business and its management is currently expanding its warehouse and distribution facilities and systems.
It also reports that sales in April were some 60% ahead of those of the previous record month of December 2005, encouraging the Board to be confident of achieving its current expansion plans.
Chairman Mark Watson-Mitchell commented
"The sales figures for April were excellent, way ahead of our previous record month, which was that leading up to Christmas 2005. Since March the Company's management, under Richard Breeden and Grant Calton, has moved apace in getting to grips with creating its ability to cope with the significant sales increases that are a major part of the expansion strategy."
For further information:
EBTM PLC 020 8704 0034
Richard Breeden (Chief Executive) 07973 563 529
Notes to Editors
EBTM Plc (AIM: EBTM) is the result of the reverse acquisition of e-retail plc in February 2006. That company acquired EBTM Limited, which was formed in April 2005 as a new online specialist retailer of music merchandise and related clothing and fashion.
The online retail operation, EBTM.com, was launched in July 2005. It currently sells licensed products from over 175 bands (from The Rolling Stones to Razorlight, from Bob Marley to Motorhead). Products include clothing, jewellery, bags and shoes. EBTM also sells several a range of associated fashion brands, (which have an association with music), including Atticus, Vans, Eastpak and Amplified.
EBTM continues to broaden and expand its sales retail offering and, over the coming months, will continue to develop its branded fashion offering.
This information is provided by RNS
The company news service from the London Stock Exchange
END
A bit more info found by foo ninja on the iii discussion board.
The man who's got the T-shirt
By Emma Vickers
3 March 2006
Retail Week
English
Copyright 2006. EMAP plc. All rights reserved.
Newly floated e-tailer EBTM is convinced band T-shirts and posters can be big business. Emma Vickers meets founder Richard Breeden
In his City-boy uniform, EBTM chief executive Richard Breeden looks more anything, rather than everything, but the music - the name of his recently floated internet fashion business.
His sharp suit, expensive watch and blue and white striped shirt are a far cry from the Led Zeppelin and Iron Maiden T-shirts that comprise the site's bread and butter. But, following the 1.5 million reverse takeover of EBTM by AIM-listed consultancy E-retail on February 3, the ex-dance music fanatic must play to an audience of investors to persuade them that music-inspired clothing has room for growth and, more importantly, that he is the one to lead it.
Breeden outlines the premise of EBTM a week after the deal. He looks tired and speaks quickly, giving the impression that he delivered the same spiel repeatedly in the weeks before and after the takeover.
He says: "We are an online-only retailer of music-related merchandise and product. The retail concept is that music is a key driver of lifestyle. The music that you listen to defines not only the clothes that you wear, but who you hang out with and where you hang out - a large part of what you do. We're trying to provide an access to that lifestyle to people that like certain types of music."
The web site sells T-shirts, accessories, jewellery, footwear and posters. It caters for fans of genres from metal, indie, rock, punk to urban. It has 40,000 registered users - 60 per cent of whom are men.
A heavy metal fan browsing the site would be able to pick up a T-shirt with the logo of Bullet for My Valentine and a co-ordinating monogrammed bullet-shaped pendant.
The appeal of the offer is arguably limited to moody teenagers listening to grungy music in their bedrooms. However, Breeden cites the broader and more affluent 16- to 29-year-old age range as his core customer base and EBTM's average basket size of 26 backs this up.
Breeden says one of the challenges he faces is widening the appeal of the site and he has plenty of ideas to do this. He intends to include more fashion to allow fans to get the look of their favourite singers. Although this is a sales device used heavily by online fashion retailer Asos, EBTM customers are more likely to want to ape the style of Babyshambles singer Pete Doherty than his ex-girlfriend Kate Moss.
The site will also stock the growing number of clothing collections designed by musicians themselves. In March, it will start selling the Adeline clothing collection designed by Green Day frontman Billie Joe Armstrong. Breeden points out that licensed product is becoming more important to artists because the revenue they once got from CDs has been hit by internet piracy. He says: "It's leading to better product development."
His goal for EBTM is to have a fashion-led homepage, with links to a broadened range of music genres, including pop. However, music fans are renowned for snobbery - would a Motorhead fan buy a T-shirt from a site that also, for instance, stocks a cosmetics range by J-Lo?
Breeden says: "It's something we're very aware of. It's not just J-Lo, it's the difference between metal and indie. But that's one of the beauties of the internet: because it's so flexible, you're able to create environments for each genre. It's not a concept you can deliver in a shop, because once you're in a shop that's the environment you're in."
Though he has limited retail experience, Breeden has more than proved his entrepreneurial credentials. At university, he channelled his passion for dance music into organising gigs and club nights. On graduating, he lived every music lovers' dream - after stints of work experience he was offered a job with EMI.
Within six weeks, he was running his own label. He says: "I spotted an opportunity - they had a (dance music) label called Tribal America and I persuaded the owner to let me set up the UK side. We became very successful. It's fortunate, but there was an opportunity and we built a fairly significant business pretty quickly."
After eight years at record labels and an MBA en route, he ended up working for merchandiser Blue Grape. He explains: "Merchandisers sign bands in the same way that a record company does. They'll go out and pay in advance to acquire rights, but instead of acquiring record rights they acquire what are effectively visual rights. The right to use the logo and all that kind of stuff."
It was while working here that the idea for EBTM was born. Breeden says: "I spent a long time looking for the right opportunity - when I say looking for, I mean sitting down and thinking it up."
He set up the business in January last year and was dealt the attention of EBTM's retail trump card in the form of executive director Quentin Griffiths, who founded and remains a stakeholder in Asos.
As well as expanding the breadth of product offer, EBTM is driving hits through print advertising in specialist titles such as NME and Kerrang. Recent coverage in Heat magazine helped drive sales of a studded Rolling Stones T-shirt and bring EBTM to the attention of a more mainstream customer base. Then, unlike Stones frontman Mick Jagger, Breeden will be satisfied.
trigger45 - 14 Jun 2007 08:36 - 56 of 80
Just bringing this back up.
Connstant buying the last few days.
Exciting times I hope.
Connstant buying the last few days.
Exciting times I hope.
trigger45 - 16 Jul 2007 07:10 - 57 of 80
A nice positive write-up in Shares Magazine. I topped up the other day but didn't get it spot on as it dropped again but not concerned by that at all it's so difficult to get it spot on.
BUY 5.38p Stop loss 4.3p
Market value: 13.9m
PE 2007: n/a, PE 2008: 11.2
Rel str: 1m +1.2%, 12m +34.4%
Spread: 13.043%
While net-based retailers such as ASOS (ASC:AIM) have enjoyed very strong sales growth, online retailing is still in its infancy,creating a huge growth opportunity.
Analysts predict a rough 85% hike in online retailing by 2010, implying the market would then be worth around 78 billion
worldwide.
EBTM is well positioned to benefit. It specialises in musicinspired clothing and has been active in recent months creating
alliances with Kerrang!, the UKs biggest weekly rock magazine, and Metal Hammer, the leading monthly metal/rock mag.
However, its real key to future success is the acquisition of Lowlife, a wholesaler and online retailer of music-inspired clothing and accessories.
Just before this deal, EBTM had confirmed that it enjoyed sales of 1.3 million in 2006/7. The second half loss was significantly below the 291,000 loss suffered in the first half, indicating that the group is moving steadily toward
operational profitability.
Lowlife made profits of 646,000 in 2006. The group will now concentrate on three types of band-related clothing tee-shirts, replica clothing worn by bands, plus other music associated brands, such as Atticus.
Broker Seymour Pierce is optimistic about EBTMs prospects, forecasting sales of 8.4 million and profits of 1.68 million this year, rising to 12 million and roughly 3 million profit next. This implies EPS of 0.5p rising to 0.7p in 2008, a
40% hike. The broker has also slapped a 10p medium term price target on the stock, almost double the current price. (JM)
Also posted by nickel-tops on another board.
Definitely not for grungers, but thehits channel 18 freeview running in-house competition for rock gear prizes sponsored by EBTM, advertising every other video, so getting good coverage for the fans.
Goto http://www.thehits-tv.co.uk/competitions.asp
Weve got oodles of rock gear to give you here on the Hits all courtesy of Everything But The Music, the music inspired fashion website 2 winners will win the entire Skeleton Crew range designed by My Chemical Romances guitarist Frank Iero and the entire blacklist clothing range. Theres also all the official MCR merchandise and clothes from Billie Joe Armstrongs new Adeline range. Thats enough clothes to keep you rocking for years!
Luck to all n-t
BUY 5.38p Stop loss 4.3p
Market value: 13.9m
PE 2007: n/a, PE 2008: 11.2
Rel str: 1m +1.2%, 12m +34.4%
Spread: 13.043%
While net-based retailers such as ASOS (ASC:AIM) have enjoyed very strong sales growth, online retailing is still in its infancy,creating a huge growth opportunity.
Analysts predict a rough 85% hike in online retailing by 2010, implying the market would then be worth around 78 billion
worldwide.
EBTM is well positioned to benefit. It specialises in musicinspired clothing and has been active in recent months creating
alliances with Kerrang!, the UKs biggest weekly rock magazine, and Metal Hammer, the leading monthly metal/rock mag.
However, its real key to future success is the acquisition of Lowlife, a wholesaler and online retailer of music-inspired clothing and accessories.
Just before this deal, EBTM had confirmed that it enjoyed sales of 1.3 million in 2006/7. The second half loss was significantly below the 291,000 loss suffered in the first half, indicating that the group is moving steadily toward
operational profitability.
Lowlife made profits of 646,000 in 2006. The group will now concentrate on three types of band-related clothing tee-shirts, replica clothing worn by bands, plus other music associated brands, such as Atticus.
Broker Seymour Pierce is optimistic about EBTMs prospects, forecasting sales of 8.4 million and profits of 1.68 million this year, rising to 12 million and roughly 3 million profit next. This implies EPS of 0.5p rising to 0.7p in 2008, a
40% hike. The broker has also slapped a 10p medium term price target on the stock, almost double the current price. (JM)
Also posted by nickel-tops on another board.
Definitely not for grungers, but thehits channel 18 freeview running in-house competition for rock gear prizes sponsored by EBTM, advertising every other video, so getting good coverage for the fans.
Goto http://www.thehits-tv.co.uk/competitions.asp
Weve got oodles of rock gear to give you here on the Hits all courtesy of Everything But The Music, the music inspired fashion website 2 winners will win the entire Skeleton Crew range designed by My Chemical Romances guitarist Frank Iero and the entire blacklist clothing range. Theres also all the official MCR merchandise and clothes from Billie Joe Armstrongs new Adeline range. Thats enough clothes to keep you rocking for years!
Luck to all n-t
Ultimate Cynic - 16 Jul 2007 16:55 - 58 of 80
Thank's trig, I'll check out ch18 tonight.
UC.
UC.
trigger45 - 17 Jul 2007 06:51 - 59 of 80
Thanks for popping in UC.
Good luck.
Good luck.
Ultimate Cynic - 17 Jul 2007 09:56 - 60 of 80
I have just a small speculative punt of 50,000 shares at the moment trig. Just waiting to see what happens. Didn't manage to catch the advert last night. Is it on at any particular time? Say early evening or later?
UC.
UC.
Ultimate Cynic - 17 Jul 2007 10:02 - 61 of 80
trigger45, are you into SDK (SameDay Books.co)? If not go and check the chart on MoneyAM - Jeeeees!!!! I could have bought a million at 0.5p and they are now 5p each in just 3 months!!!!!
UC.
UC.
trigger45 - 18 Jul 2007 07:22 - 62 of 80
Sadly no UC. I'm also fully invested for a while which is driving me crackers to be honest, but I will take a look as those figs are very impressive.
I'm just a little shy of the amount I want to hold in these and I then want to top on NEV.
To be honest I'm trying to hold myself back as I have much to learn and until I can prove this year isn't a one hit wonder I'm more comfortable with the majority of my money in a high interest account as only 13 years to retirement.
I'm just a little shy of the amount I want to hold in these and I then want to top on NEV.
To be honest I'm trying to hold myself back as I have much to learn and until I can prove this year isn't a one hit wonder I'm more comfortable with the majority of my money in a high interest account as only 13 years to retirement.
trigger45 - 15 Aug 2007 07:11 - 63 of 80
Excellent news today. As mentioned it's a long term hold, but things are being put in place for a strong future.
EBTM PLC
15 August 2007
Date: 15 August 2007
On behalf of: EBTM plc ('EBTM' or the 'Company')
EBTM plc
EBTM PLC ANNOUNCES 800,000 ORDER WITH LEADING UK RETAILER
EBTM, the online retailer and brand owner of music inspired fashion, is pleased
to announce that an 800,000 order for clothing has been placed by a leading
retailer within the United Kingdom.
The total consideration for the order is 800,000 and underpins EBTM's existing
forecast for the current financial year. The order is for an October delivery
and includes the distribution and sale of EBTM's recently acquired Atticus brand
clothing range.
Richard Breeden, Chief Executive of EBTM plc commented,
'This is a positive step for EBTM as we continue to build growth across all
areas of the business. EBTM continues to develop appropriate avenues for
sustainable growth and this agreement creates an excellent platform for future
development.
'As a company, our main objective is to drive profits and revenues for our
shareholders. We are rapidly becoming recognised as the leading retailer of
music inspired fashion in the UK and Europe. This order will consolidate our
performance for the current financial year and we look to the future with
confidence.'
EBTM PLC
15 August 2007
Date: 15 August 2007
On behalf of: EBTM plc ('EBTM' or the 'Company')
EBTM plc
EBTM PLC ANNOUNCES 800,000 ORDER WITH LEADING UK RETAILER
EBTM, the online retailer and brand owner of music inspired fashion, is pleased
to announce that an 800,000 order for clothing has been placed by a leading
retailer within the United Kingdom.
The total consideration for the order is 800,000 and underpins EBTM's existing
forecast for the current financial year. The order is for an October delivery
and includes the distribution and sale of EBTM's recently acquired Atticus brand
clothing range.
Richard Breeden, Chief Executive of EBTM plc commented,
'This is a positive step for EBTM as we continue to build growth across all
areas of the business. EBTM continues to develop appropriate avenues for
sustainable growth and this agreement creates an excellent platform for future
development.
'As a company, our main objective is to drive profits and revenues for our
shareholders. We are rapidly becoming recognised as the leading retailer of
music inspired fashion in the UK and Europe. This order will consolidate our
performance for the current financial year and we look to the future with
confidence.'
trigger45 - 05 Sep 2007 07:21 - 64 of 80
And the news just keeps coming. A slight drop in the share price yesterday and to be fare it is proving to be one to hold for the long term.
I'm impressed so far with all the things they are putting in place to become a strong profitable company.
EBTM ENTERS AGREEMENT WITH GREEN
DAY'S ADELINE CLOTHING
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that it has entered into an agreement with USA based Rock
Steady Clothing to run an online store for the Adeline ('Adeline') clothing
label. The agreement will also include the distribution of Adeline product to
wholesale suppliers in the UK.
Adeline is a fashion label created by Billie Joe Armstrong, the lead singer of
multi million selling rock band Green Day. Its product range and marketplace are
complementary to EBTM's existing business and the brand has already sold
successfully on EBTM.com, having previously been imported direct from Rock
Steady in the USA.
The agreement gives EBTM the exclusive distribution rights to the brand in the
UK and Spain with immediate effect. EBTM will launch a single brand web store
for the company shortly. In addition it will distribute Adeline products via its
own wholesale distribution network that it acquired as part of the Lowlife
acquisition on 1 June 2007.
The Board of EBTM is confident that the complementary nature of both businesses
means that there will be a number of trading and operational opportunities where
revenues and margins can be enhanced and costs saved.
Richard Breeden, Chief Executive of EBTM plc commented,
'We are delighted to announce this agreement with Adeline as it offers a
significant opportunity to strengthen our existing wholesale and online retail
operations. The brand already has a loyal customer base and we are confident
that we will be able to continue to a provide high quality service.'
'We are excited to bring Adeline to the UK in a meaningful way for the first
time. The synergies between our existing businesses and Adeline are excellent
and it represents a clear example of music inspired fashion created by one of
the biggest bands on the planet.'
-ends-
Date: 05 September 2007
For further information contact:
EBTM plc cityPROFILE Nabarro Wells
Richard Breeden William Attwell Hugh Oram
Tel: 020-8704-0034 Tel: 020-7448-3244 020-7710-7400
About EBTM plc:
EBTM is an AIM-listed vertically integrated online retailer of music inspired
fashion, selling licensed merchandise and branded clothing, accessories and
footwear, enabling consumers to mirror the identity of their favourite bands.
EBTM also owns the successful and music inspired Atticus and Lowlife Clothing
brands and operates a global distribution business which distributes these
brands and others held under license.
I'm impressed so far with all the things they are putting in place to become a strong profitable company.
EBTM ENTERS AGREEMENT WITH GREEN
DAY'S ADELINE CLOTHING
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that it has entered into an agreement with USA based Rock
Steady Clothing to run an online store for the Adeline ('Adeline') clothing
label. The agreement will also include the distribution of Adeline product to
wholesale suppliers in the UK.
Adeline is a fashion label created by Billie Joe Armstrong, the lead singer of
multi million selling rock band Green Day. Its product range and marketplace are
complementary to EBTM's existing business and the brand has already sold
successfully on EBTM.com, having previously been imported direct from Rock
Steady in the USA.
The agreement gives EBTM the exclusive distribution rights to the brand in the
UK and Spain with immediate effect. EBTM will launch a single brand web store
for the company shortly. In addition it will distribute Adeline products via its
own wholesale distribution network that it acquired as part of the Lowlife
acquisition on 1 June 2007.
The Board of EBTM is confident that the complementary nature of both businesses
means that there will be a number of trading and operational opportunities where
revenues and margins can be enhanced and costs saved.
Richard Breeden, Chief Executive of EBTM plc commented,
'We are delighted to announce this agreement with Adeline as it offers a
significant opportunity to strengthen our existing wholesale and online retail
operations. The brand already has a loyal customer base and we are confident
that we will be able to continue to a provide high quality service.'
'We are excited to bring Adeline to the UK in a meaningful way for the first
time. The synergies between our existing businesses and Adeline are excellent
and it represents a clear example of music inspired fashion created by one of
the biggest bands on the planet.'
-ends-
Date: 05 September 2007
For further information contact:
EBTM plc cityPROFILE Nabarro Wells
Richard Breeden William Attwell Hugh Oram
Tel: 020-8704-0034 Tel: 020-7448-3244 020-7710-7400
About EBTM plc:
EBTM is an AIM-listed vertically integrated online retailer of music inspired
fashion, selling licensed merchandise and branded clothing, accessories and
footwear, enabling consumers to mirror the identity of their favourite bands.
EBTM also owns the successful and music inspired Atticus and Lowlife Clothing
brands and operates a global distribution business which distributes these
brands and others held under license.
trigger45 - 07 Sep 2007 08:28 - 65 of 80
If the rise today holds I will be up 1% on my investment. Nothing to shout about I know but have been constantly topping up on this one for quite a while now.
My investment was never about short term gains but looking to hold for the long term.
The market appears to like the recent news for this one and I hope it continues as it's by now my biggest holding ever.
The company is still very much in it's infancy but I believe the board are building sound foundations for a very successful company in the future.
My investment was never about short term gains but looking to hold for the long term.
The market appears to like the recent news for this one and I hope it continues as it's by now my biggest holding ever.
The company is still very much in it's infancy but I believe the board are building sound foundations for a very successful company in the future.
trigger45 - 19 Sep 2007 07:34 - 66 of 80
The rise didn't hold so it's a case of waiting a little longer for profits which will come.
More news today regarding building for the future.
EBTM PLC
19 September 2007
EBTM plc
EBTM CONFIRMS AGREEMENT WITH FALL OUT BOY'S
CLANDESTINE CLOTHING RANGE
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that it has entered into an agreement with the clothing
range Clandestine Industries ('Clandestine') to run an online store. The
agreement also includes the exclusive wholesale distribution rights of
Clandestine product to wholesale accounts in the UK and Europe.
Clandestine is a fashion label created by Pete Wentz, the lyricist and bassist
of multi million selling US group Fall Out Boy. Its product range and
marketplace are complementary to EBTM's existing business and the brand already
has successful launched on the company's webstore, EBTM.com.
The agreement gives EBTM the exclusive wholesale distribution rights to the
brand in the UK and Europe with immediate effect. EBTM will launch a single
brand web store for the company shortly. In addition, it will distribute
Clandestine clothing via its own pan European wholesale distribution network.
Richard Breeden, Chief Executive of EBTM plc commented,
' We are delighted to announce this agreement with Clandestine. It again offers
a significant opportunity to strengthen our existing wholesale and online retail
operations.'
' Clandestine already has a strong international customer base and we are
confident that we will continue to distribute the brand's quality range of
clothing to existing and new fans. EBTM continues to supply desirable fashion
items to today's youth culture, inspired by a dynamic music industry.'
' We have again proved that we can source and execute deals quickly and
successfully. This agreement has strengthened our position as the industry's
market leader and the future of the company remains bright.'
More news today regarding building for the future.
EBTM PLC
19 September 2007
EBTM plc
EBTM CONFIRMS AGREEMENT WITH FALL OUT BOY'S
CLANDESTINE CLOTHING RANGE
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that it has entered into an agreement with the clothing
range Clandestine Industries ('Clandestine') to run an online store. The
agreement also includes the exclusive wholesale distribution rights of
Clandestine product to wholesale accounts in the UK and Europe.
Clandestine is a fashion label created by Pete Wentz, the lyricist and bassist
of multi million selling US group Fall Out Boy. Its product range and
marketplace are complementary to EBTM's existing business and the brand already
has successful launched on the company's webstore, EBTM.com.
The agreement gives EBTM the exclusive wholesale distribution rights to the
brand in the UK and Europe with immediate effect. EBTM will launch a single
brand web store for the company shortly. In addition, it will distribute
Clandestine clothing via its own pan European wholesale distribution network.
Richard Breeden, Chief Executive of EBTM plc commented,
' We are delighted to announce this agreement with Clandestine. It again offers
a significant opportunity to strengthen our existing wholesale and online retail
operations.'
' Clandestine already has a strong international customer base and we are
confident that we will continue to distribute the brand's quality range of
clothing to existing and new fans. EBTM continues to supply desirable fashion
items to today's youth culture, inspired by a dynamic music industry.'
' We have again proved that we can source and execute deals quickly and
successfully. This agreement has strengthened our position as the industry's
market leader and the future of the company remains bright.'
trigger45 - 24 Sep 2007 07:24 - 67 of 80
Looking foward to the results which are due anytime now. It's only my opinion, but it can't stay at these levels for much longer.
Here's hoping anyway.
EBTM PLC
24 September 2007
EBTM plc
EBTM ANNOUNCES LOWLIFE AS OFFICIAL SPONSOR
TO NME FRESHERS TOUR
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that the recently acquired Lowlife brand has been named
as the official sponsor for the NME Freshers Tour 2007. The tour starts on
Tuesday 25th September at Edinburgh University and will visit eleven major
universities around the UK, finishing at London's Astoria on 9th October.
The Lowlife Corporation was acquired by EBTM in June 2007. Lowlife is a brand
owner and wholesaler of clothing and accessories in the area of music inspired
fashion. Its product range and marketplace are highly complementary with that of
EBTM.
This agreement asserts Lowlife and EBTM as two brands at the forefront of the
music scene. Lowlife will be able to promote its brand and the webstore to its
core market on the tour as well as drive sales in high street retail. NME has a
global presence and has become one of the most recognised brands in the
entertainment industry.
EBTM can also announce that the single brand webstores for Lowlife Clothing
(
www.lowlife.com
) and Atticus Clothing (
www.atticusclothing.com
) are now live
and trading via EBTM's online platform. The webstores support and monetise the
recently restructured Lowlife and Atticus and brand web sites.
Richard Breeden, Chief Executive of EBTM plc commented,
' We are delighted to announce this significant agreement with the NME Freshers
Tour 2007. EBTM now has a solid relationship with a globally recognised industry
leader. We continue to find innovative ways of extending our reach into the
music industry and this agreement provides us with an excellent in road to the
university culture that is such a key driver of our business.'
' EBTM has made strong progress in the last few months. The recently launched
single brand webstores for Lowlife and Atticus are now in full motion. In
addition we have recently announced new license agreements for two music
inspired clothing lines: Adeline and Clandestine Industries. The future of the
company remains bright and we can look to the future with confidence and
enthusiasm.'
Here's hoping anyway.
EBTM PLC
24 September 2007
EBTM plc
EBTM ANNOUNCES LOWLIFE AS OFFICIAL SPONSOR
TO NME FRESHERS TOUR
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce that the recently acquired Lowlife brand has been named
as the official sponsor for the NME Freshers Tour 2007. The tour starts on
Tuesday 25th September at Edinburgh University and will visit eleven major
universities around the UK, finishing at London's Astoria on 9th October.
The Lowlife Corporation was acquired by EBTM in June 2007. Lowlife is a brand
owner and wholesaler of clothing and accessories in the area of music inspired
fashion. Its product range and marketplace are highly complementary with that of
EBTM.
This agreement asserts Lowlife and EBTM as two brands at the forefront of the
music scene. Lowlife will be able to promote its brand and the webstore to its
core market on the tour as well as drive sales in high street retail. NME has a
global presence and has become one of the most recognised brands in the
entertainment industry.
EBTM can also announce that the single brand webstores for Lowlife Clothing
(
www.lowlife.com
) and Atticus Clothing (
www.atticusclothing.com
) are now live
and trading via EBTM's online platform. The webstores support and monetise the
recently restructured Lowlife and Atticus and brand web sites.
Richard Breeden, Chief Executive of EBTM plc commented,
' We are delighted to announce this significant agreement with the NME Freshers
Tour 2007. EBTM now has a solid relationship with a globally recognised industry
leader. We continue to find innovative ways of extending our reach into the
music industry and this agreement provides us with an excellent in road to the
university culture that is such a key driver of our business.'
' EBTM has made strong progress in the last few months. The recently launched
single brand webstores for Lowlife and Atticus are now in full motion. In
addition we have recently announced new license agreements for two music
inspired clothing lines: Adeline and Clandestine Industries. The future of the
company remains bright and we can look to the future with confidence and
enthusiasm.'
trigger45 - 10 Oct 2007 09:22 - 68 of 80
EBTM PLC
10 October 2007
Stock Exchange Announcement
On behalf of: EBTM PLC ('EBTM' or the 'Company')
Embargoed for: 07:00 hours, 10 October 2007
Preliminary Results Announcement
Highlights
Turnover up to 1.354 million (2006- 0.158 million)
Operating loss of 0.684 million (2006- operating loss 0.426 million).
Loss before amortisation, depreciation, taxation and the FRS 20 charge for
share incentives of 0.451 million.
On 31 May 2007, EBTM acquired Core Brands Limited whose main trading
subsidiary is Lowlife Corporation Limited. On 9 July 2007, the
intellectual property rights related to the Atticus clothing brand were also
acquired.
Post period end, EBTM announced the signing of licenses for the Adeline
Street Clothing (Green Day) and Clandestine Industries (Pete Wentz).
Post period end, EBTM announced an order of some 800,000 for Atticus
clothing from a major high street retailer in the UK.
The comparative figures for 2006 are for the 62 week period ended 30 April 2006.
Enquiries:
EBTM plc
Richard Breeden, Chief Executive 020 8704 0034
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram
020 7710 7400
City Profile
William Attwell
020 7448 3244
Chairman's Statement
Overview
Music is a key inspiration for lifestyle in modern youth culture. EBTM is an
online only clothing retailer focusing on what we have termed 'music inspired
fashion'. Young people look to their music icons to help define their identity
and what they wear is an intrinsic part of this.
EBTM retails clothing, footwear and accessories in three categories. We sell
officially licensed music merchandise, branded fashion which has a direct
association with music (for example a clothing brand started by a band) and
finally branded or unbranded fashion enabling fans to get the look of either a
particular artist or a music scene.
The target market is 16 years old upwards, predominantly male but increasingly
female. The geographical focus to date has been the UK market. We have assessed
a number of opportunities in mainland Europe and plan to commence operations in
France in the near future. As a result of the post period end acquisition of
Lowlife described below, we now have a trading business in Spain.
EBTM started trading in July 2005 and was admitted to AIM in March 2006,
following a reverse acquisition by E-Retail plc. EBTM now offers one of the
largest selection of music inspired fashion and accessories on the internet.
Since the year end EBTM has made two key acquisitions creating a vertically
integrated retailer which owns and licenses key clothing brands under the banner
of music inspired fashion, as well as having a significant and fast growing
wholesale distribution network in the UK and Europe and a sophisticated sourcing
network in the Far East.
These acquisitions have given the business both scale and profitability, a
position from which we hope to continue the rapid growth demonstrated since
flotation.
The Market Context
EBTM inhabits a key area in the changing landscape of value creation in the
entertainment industry. The rapid increase in the penetration of music, but its
decline in value due to online file sharing, has led numerous parties to adopt
an increasingly holistic business model as rights owners. Music merchandise is
now seen as a key revenue stream for music artists and the companies which hold
their rights. This area is undergoing a period of rapid sales growth.
In addition artists are increasingly developing their own fashion labels (as
part of an unspoken brand extension strategy) something which usually takes
place outside the context of their merchandise rights agreements. This appears
to be an area of significant future opportunity and potential growth.
EBTM is well placed as online retail continues to grow rapidly despite the
difficulties seen on the high street. IMRG continue to predict very rapid growth
in the sector.
In addition, EBTM's target market is spending more and more of their time on the
internet. Music and the sense of identity and community which it engenders is a
key driver of this online activity and young people are engaging in an
increasingly sophisticated way with many different types of media. This global
connectivity means that the movements which surround music are ever larger in
their reach and quicker to develop.
Operating Review
2006 has been a good year in the continuing development of EBTM. In the six
weeks leading up to Christmas 2006 sales were 350,239, an increase of 275%
year-on-year. Sales for the year to 30 April 2007 were 1.354 million, a
significant increase over the 0.158 million achieved in the previous year. The
operating loss for the year was 0.684 million (2006- 0.426 million). Excluding
amortisation, depreciation, interest, taxation and the non- cash FRS 20 charge
for share incentives, the loss for the year was 0.451 million (2006- 0.240
million) which is broadly in line with market expectations for this metric. This
loss is due to the continued expenditure on marketing to establish the EBTM
brand and on further investment in people and infrastructure to enable continued
rapid growth.
During the year ended 30 April 2007, the Company adopted FRS 20. This relates to
accounting for share based payments. As a result of this the results for the
period ended 30 April 2006 have been restated. The effect of this was that an
additional post tax charge of 49,900 was added to the loss for the period.
This resulted in the loss on ordinary activities after taxation increasing from
322,383 to 372,283 and the net assets at 30 April 2006 increasing from
2,344,042 to 2,365,428.
The Company has a number of strategic plans to continue the excellent growth
seen so far. EBTM will deliver to customers the best online retail experience in
the marketplace. The Group will continue to develop revenues from a combination
of online marketing and real world advertising and PR at the same time as
developing partnerships with key online media players. The Board believes that
there remains significant potential for organic growth in the UK by continuing
to build the customer base and enhance the breadth and exclusivity of the
product range.
EBTM also began to develop bespoke clothing product for sale on the site in this
period. We have been particularly successful with a range of jackets inspired by
a band called My Chemical Romance and this is an area we intend to develop
further.
Post year end, the web hosting was changed from Venda to Storefront, maintained
by Maginus Software Solutions. This move was necessary to provide the co-branded
web stores which are part of the growth strategy and to enable a roll-out into
Southern Europe. The new platform also enables the creation of single brand
stores for partners, all run from the central EBTM database and inventory. This
change caused an anticipated slowdown in sales growth as we made the transition.
However, we are now starting to see the benefits of the new platform and are
confident that the new system will enable substantial growth in the product
range, the customer database and most importantly sales.
During the year EBTM has also entered into an agreement with Kerrang.com to run
a co-branded store for their website. Kerrang is a major publication read by
EBTM's target market in the UK.
Post year end we announced two very exciting acquisitions which are
transformational for EBTM in terms of scale and profitability.
Acquisition of Lowlife Corporation Limited
On 31 May 2007, the company entered into a contract to acquire the entire issued
share capital of Core Brands Limited, whose main trading subsidiary is Lowlife
Corporation Limited ('Lowlife'). Lowlife is a wholesaler and on-line retailer of
music inspired clothing and accessories. For the year ended 31 December 2006,
Lowlife reported sales of 3.5m, and profits before tax of 646,000. At that
date it had net assets of 846,000. Lowlife has been growing at a rate of
approximately 50% per annum in the three years prior to the acquisition.
In order to fund the acquisition the Company issued 110,526,315 new ordinary
shares of 0.5 pence each in the capital of the Company at 4.75 pence per share
('the Placing').
EBTM paid 4.75 million to acquire Lowlife, which was settled:
1.5 million by way of an issue of 26,785,714 new ordinary shares in the
Company to Dale Masters, who owned 100% of the share capital in Lowlife ; and
3.25 million in cash, financed by the Placing.
Lowlife's products are marketed under a variety of brand names, some of which
are the subject of third party ownership and for which it pays royalties for the
right to use the brand name. Lowlife is predominately an accessories brand.
Atticus which is the single largest brand distributed by Lowlife was operated
under license until the subsequent acquisition of the brand IPR, further
detailed below.
Acquisition of Atticus Clothing Brand
The remaining funds from the Placing were used to acquire the intellectual
property rights relating to the Atticus clothing brand for which EBTM paid US
$4.2 m. This transaction was completed on 9 July 2007.
Benefits of the acquisitions
These acquisitions provide scale and a profitable operation for the Group,
creating a platform for continued rapid growth. Both revenue and cost synergies
are available to the Group as well as the benefits of the rights ownership and
the control of distribution.
The acquisition of the intellectual property in Atticus ensures that EBTM
controls the design process in house, no longer has to pay royalties for sales
on the brand and will itself be able to attract royalty income from sales of the
brand by overseas licensees.
The in-house design and sourcing capability (80% of Lowlife's sourcing is from
China) enables the further acceleration of 'own brand' product which started in
2006.
In addition EBTM has created online stores for the Lowlife brand and the Atticus
brand on its own platform and will create single brand stores which cover Europe
for all the brands it distributes.
Since acquisition, the business has been trading well. This has been underpinned
by an order of some 800,000 from a major UK high street retailer. We continue
to exploit existing distribution channels and explore new ones both in the UK
and overseas.
The financial and operational management of the Group will be consolidated
creating cost synergies. At the time of writing the integration of the
businesses is going well and is nearly complete.
New Licenses
Post year end, we have also announced the acquisition of the wholesale
distribution rights for Adeline Clothing and Clandestine Industries and have
plans to create single brand online stores for them both. Both brands have
previously been good sellers for EBTM when imported from USA wholesalers.
The Team
We continue to develop an executive and non-executive team of the very highest
quality and with substantial plc board experience.
I joined the board in September 2006 and was appointed as Non-Executive Chairman
on 30th October 2006. Since December 2005 I have been Chairman of Western &
Oriental plc, an AIM quoted luxury travel company, having previously been the
Chief Financial Officer and a Main Board Director of lastminute.com plc until
March 2005. I helped grow lastminute.com from a market value of approximately
30m to over 600m over a 4 year period.
On 30 July 2007, Simon Hargreaves joined the board as a Non Executive Director.
Simon, aged 44, was a member of the board of Vanco plc for 13 years. He started
his career at Vanco as Group Finance Director and has also been the Chief
Executive of Vanco Solutions, which is the main trading business. Simon was also
a director of the Lowlife Group of companies until their acquisition by EBTM
earlier on 2007. On 26 September 2007, Simon decided to leave Vanco to pursue
his other business interests..
On completion of the acquisition of Lowlife Dale Masters joined the Board. Dale
founded Lowlife Corporation in 2001. He successfully developed, manufactured and
marketed a number of leading music orientated youth culture brands, including
Atticus and Lowlife in the UK, Spain and internationally. Dale previously worked
for The French Connection Group PLC based in London and the Far East for five
years before establishing a successful sourcing and manufacturing company
supplying well known UK youth and street-wear brands.
Outlook
The Board remain confident that the Group will continue to make good progress in
the year ending 30 April 2008 as we move to profitability and cash generation.
The board are encouraged by current trading and expect the outcome for the year
to be in line with market expectations.
David Howell
Chairman
10 October 2007
Stock Exchange Announcement
On behalf of: EBTM PLC ('EBTM' or the 'Company')
Embargoed for: 07:00 hours, 10 October 2007
Preliminary Results Announcement
Highlights
Turnover up to 1.354 million (2006- 0.158 million)
Operating loss of 0.684 million (2006- operating loss 0.426 million).
Loss before amortisation, depreciation, taxation and the FRS 20 charge for
share incentives of 0.451 million.
On 31 May 2007, EBTM acquired Core Brands Limited whose main trading
subsidiary is Lowlife Corporation Limited. On 9 July 2007, the
intellectual property rights related to the Atticus clothing brand were also
acquired.
Post period end, EBTM announced the signing of licenses for the Adeline
Street Clothing (Green Day) and Clandestine Industries (Pete Wentz).
Post period end, EBTM announced an order of some 800,000 for Atticus
clothing from a major high street retailer in the UK.
The comparative figures for 2006 are for the 62 week period ended 30 April 2006.
Enquiries:
EBTM plc
Richard Breeden, Chief Executive 020 8704 0034
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram
020 7710 7400
City Profile
William Attwell
020 7448 3244
Chairman's Statement
Overview
Music is a key inspiration for lifestyle in modern youth culture. EBTM is an
online only clothing retailer focusing on what we have termed 'music inspired
fashion'. Young people look to their music icons to help define their identity
and what they wear is an intrinsic part of this.
EBTM retails clothing, footwear and accessories in three categories. We sell
officially licensed music merchandise, branded fashion which has a direct
association with music (for example a clothing brand started by a band) and
finally branded or unbranded fashion enabling fans to get the look of either a
particular artist or a music scene.
The target market is 16 years old upwards, predominantly male but increasingly
female. The geographical focus to date has been the UK market. We have assessed
a number of opportunities in mainland Europe and plan to commence operations in
France in the near future. As a result of the post period end acquisition of
Lowlife described below, we now have a trading business in Spain.
EBTM started trading in July 2005 and was admitted to AIM in March 2006,
following a reverse acquisition by E-Retail plc. EBTM now offers one of the
largest selection of music inspired fashion and accessories on the internet.
Since the year end EBTM has made two key acquisitions creating a vertically
integrated retailer which owns and licenses key clothing brands under the banner
of music inspired fashion, as well as having a significant and fast growing
wholesale distribution network in the UK and Europe and a sophisticated sourcing
network in the Far East.
These acquisitions have given the business both scale and profitability, a
position from which we hope to continue the rapid growth demonstrated since
flotation.
The Market Context
EBTM inhabits a key area in the changing landscape of value creation in the
entertainment industry. The rapid increase in the penetration of music, but its
decline in value due to online file sharing, has led numerous parties to adopt
an increasingly holistic business model as rights owners. Music merchandise is
now seen as a key revenue stream for music artists and the companies which hold
their rights. This area is undergoing a period of rapid sales growth.
In addition artists are increasingly developing their own fashion labels (as
part of an unspoken brand extension strategy) something which usually takes
place outside the context of their merchandise rights agreements. This appears
to be an area of significant future opportunity and potential growth.
EBTM is well placed as online retail continues to grow rapidly despite the
difficulties seen on the high street. IMRG continue to predict very rapid growth
in the sector.
In addition, EBTM's target market is spending more and more of their time on the
internet. Music and the sense of identity and community which it engenders is a
key driver of this online activity and young people are engaging in an
increasingly sophisticated way with many different types of media. This global
connectivity means that the movements which surround music are ever larger in
their reach and quicker to develop.
Operating Review
2006 has been a good year in the continuing development of EBTM. In the six
weeks leading up to Christmas 2006 sales were 350,239, an increase of 275%
year-on-year. Sales for the year to 30 April 2007 were 1.354 million, a
significant increase over the 0.158 million achieved in the previous year. The
operating loss for the year was 0.684 million (2006- 0.426 million). Excluding
amortisation, depreciation, interest, taxation and the non- cash FRS 20 charge
for share incentives, the loss for the year was 0.451 million (2006- 0.240
million) which is broadly in line with market expectations for this metric. This
loss is due to the continued expenditure on marketing to establish the EBTM
brand and on further investment in people and infrastructure to enable continued
rapid growth.
During the year ended 30 April 2007, the Company adopted FRS 20. This relates to
accounting for share based payments. As a result of this the results for the
period ended 30 April 2006 have been restated. The effect of this was that an
additional post tax charge of 49,900 was added to the loss for the period.
This resulted in the loss on ordinary activities after taxation increasing from
322,383 to 372,283 and the net assets at 30 April 2006 increasing from
2,344,042 to 2,365,428.
The Company has a number of strategic plans to continue the excellent growth
seen so far. EBTM will deliver to customers the best online retail experience in
the marketplace. The Group will continue to develop revenues from a combination
of online marketing and real world advertising and PR at the same time as
developing partnerships with key online media players. The Board believes that
there remains significant potential for organic growth in the UK by continuing
to build the customer base and enhance the breadth and exclusivity of the
product range.
EBTM also began to develop bespoke clothing product for sale on the site in this
period. We have been particularly successful with a range of jackets inspired by
a band called My Chemical Romance and this is an area we intend to develop
further.
Post year end, the web hosting was changed from Venda to Storefront, maintained
by Maginus Software Solutions. This move was necessary to provide the co-branded
web stores which are part of the growth strategy and to enable a roll-out into
Southern Europe. The new platform also enables the creation of single brand
stores for partners, all run from the central EBTM database and inventory. This
change caused an anticipated slowdown in sales growth as we made the transition.
However, we are now starting to see the benefits of the new platform and are
confident that the new system will enable substantial growth in the product
range, the customer database and most importantly sales.
During the year EBTM has also entered into an agreement with Kerrang.com to run
a co-branded store for their website. Kerrang is a major publication read by
EBTM's target market in the UK.
Post year end we announced two very exciting acquisitions which are
transformational for EBTM in terms of scale and profitability.
Acquisition of Lowlife Corporation Limited
On 31 May 2007, the company entered into a contract to acquire the entire issued
share capital of Core Brands Limited, whose main trading subsidiary is Lowlife
Corporation Limited ('Lowlife'). Lowlife is a wholesaler and on-line retailer of
music inspired clothing and accessories. For the year ended 31 December 2006,
Lowlife reported sales of 3.5m, and profits before tax of 646,000. At that
date it had net assets of 846,000. Lowlife has been growing at a rate of
approximately 50% per annum in the three years prior to the acquisition.
In order to fund the acquisition the Company issued 110,526,315 new ordinary
shares of 0.5 pence each in the capital of the Company at 4.75 pence per share
('the Placing').
EBTM paid 4.75 million to acquire Lowlife, which was settled:
1.5 million by way of an issue of 26,785,714 new ordinary shares in the
Company to Dale Masters, who owned 100% of the share capital in Lowlife ; and
3.25 million in cash, financed by the Placing.
Lowlife's products are marketed under a variety of brand names, some of which
are the subject of third party ownership and for which it pays royalties for the
right to use the brand name. Lowlife is predominately an accessories brand.
Atticus which is the single largest brand distributed by Lowlife was operated
under license until the subsequent acquisition of the brand IPR, further
detailed below.
Acquisition of Atticus Clothing Brand
The remaining funds from the Placing were used to acquire the intellectual
property rights relating to the Atticus clothing brand for which EBTM paid US
$4.2 m. This transaction was completed on 9 July 2007.
Benefits of the acquisitions
These acquisitions provide scale and a profitable operation for the Group,
creating a platform for continued rapid growth. Both revenue and cost synergies
are available to the Group as well as the benefits of the rights ownership and
the control of distribution.
The acquisition of the intellectual property in Atticus ensures that EBTM
controls the design process in house, no longer has to pay royalties for sales
on the brand and will itself be able to attract royalty income from sales of the
brand by overseas licensees.
The in-house design and sourcing capability (80% of Lowlife's sourcing is from
China) enables the further acceleration of 'own brand' product which started in
2006.
In addition EBTM has created online stores for the Lowlife brand and the Atticus
brand on its own platform and will create single brand stores which cover Europe
for all the brands it distributes.
Since acquisition, the business has been trading well. This has been underpinned
by an order of some 800,000 from a major UK high street retailer. We continue
to exploit existing distribution channels and explore new ones both in the UK
and overseas.
The financial and operational management of the Group will be consolidated
creating cost synergies. At the time of writing the integration of the
businesses is going well and is nearly complete.
New Licenses
Post year end, we have also announced the acquisition of the wholesale
distribution rights for Adeline Clothing and Clandestine Industries and have
plans to create single brand online stores for them both. Both brands have
previously been good sellers for EBTM when imported from USA wholesalers.
The Team
We continue to develop an executive and non-executive team of the very highest
quality and with substantial plc board experience.
I joined the board in September 2006 and was appointed as Non-Executive Chairman
on 30th October 2006. Since December 2005 I have been Chairman of Western &
Oriental plc, an AIM quoted luxury travel company, having previously been the
Chief Financial Officer and a Main Board Director of lastminute.com plc until
March 2005. I helped grow lastminute.com from a market value of approximately
30m to over 600m over a 4 year period.
On 30 July 2007, Simon Hargreaves joined the board as a Non Executive Director.
Simon, aged 44, was a member of the board of Vanco plc for 13 years. He started
his career at Vanco as Group Finance Director and has also been the Chief
Executive of Vanco Solutions, which is the main trading business. Simon was also
a director of the Lowlife Group of companies until their acquisition by EBTM
earlier on 2007. On 26 September 2007, Simon decided to leave Vanco to pursue
his other business interests..
On completion of the acquisition of Lowlife Dale Masters joined the Board. Dale
founded Lowlife Corporation in 2001. He successfully developed, manufactured and
marketed a number of leading music orientated youth culture brands, including
Atticus and Lowlife in the UK, Spain and internationally. Dale previously worked
for The French Connection Group PLC based in London and the Far East for five
years before establishing a successful sourcing and manufacturing company
supplying well known UK youth and street-wear brands.
Outlook
The Board remain confident that the Group will continue to make good progress in
the year ending 30 April 2008 as we move to profitability and cash generation.
The board are encouraged by current trading and expect the outcome for the year
to be in line with market expectations.
David Howell
Chairman
trigger45 - 11 Oct 2007 08:34 - 69 of 80
I feel I'm talking to myself here but to be honest this one isn't the most exciting share to be in.
Still very much a case of building for the future with the long awaited expansion into Europe about to happen.
This next year is going to be very important to EBTM as regards delivering share holder value.
I'm still happy to hold and accumilate.
I'll get my coat....
Still very much a case of building for the future with the long awaited expansion into Europe about to happen.
This next year is going to be very important to EBTM as regards delivering share holder value.
I'm still happy to hold and accumilate.
I'll get my coat....
trigger45 - 19 Nov 2007 07:51 - 70 of 80
More good news re building for the future.
EBTM PLC
19 November 2007
EBTM LAUNCHES US WEBSTORE FOR ATTICUS CLOTHING
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce the launch of its US webstore for Atticus Clothing. EBTM
has entered into an agreement with Music Today (a part of the Live Nation group
of companies) to run the store in the USA. The site will provide a retail
outlet at www.atticusclothing.com.
The launch will take effect immediately and follows the Company's objective to
expand into new markets. The recently acquired Atticus brand is now well
established and EBTM is well placed to distribute product to North America,
where demand for the Atticus range is strong.
Richard Breeden, Chief Executive of EBTM commented:
' We are delighted to announce the launch of the US webstore for the Atticus
brand. We now have the platform from which we can increase our market position
as the leading provider of music inspired fashion not only in the UK but in
North America also.'
' To work with Live Nation is a significant step for EBTM. The launch of the US
webstore is in line with our strategy for future growth. This is an exciting
development for EBTM and we look forward to reporting our interim results after
the all important Christmas trading period. The future for the company remains
very promising.'
EBTM PLC
19 November 2007
EBTM LAUNCHES US WEBSTORE FOR ATTICUS CLOTHING
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce the launch of its US webstore for Atticus Clothing. EBTM
has entered into an agreement with Music Today (a part of the Live Nation group
of companies) to run the store in the USA. The site will provide a retail
outlet at www.atticusclothing.com.
The launch will take effect immediately and follows the Company's objective to
expand into new markets. The recently acquired Atticus brand is now well
established and EBTM is well placed to distribute product to North America,
where demand for the Atticus range is strong.
Richard Breeden, Chief Executive of EBTM commented:
' We are delighted to announce the launch of the US webstore for the Atticus
brand. We now have the platform from which we can increase our market position
as the leading provider of music inspired fashion not only in the UK but in
North America also.'
' To work with Live Nation is a significant step for EBTM. The launch of the US
webstore is in line with our strategy for future growth. This is an exciting
development for EBTM and we look forward to reporting our interim results after
the all important Christmas trading period. The future for the company remains
very promising.'
trigger45 - 01 May 2008 22:52 - 71 of 80
EBTM PLC
22 January 2008
EBTM.L
EBTM Plc ('EBTM')
Interim Results for the six months ended 31 October 2007
Key Points
Sales up 590% year-on-year, assisted by the acquisitions made in May and
July 2007, to 3.59 million (2006: 0.52 million).
The Group has posted its maiden operating profit. Profit before
amortisation, depreciation, taxation and the FRS 20 charge for share
incentives was 0.33 million (2006: loss of 0.26 million).
On 31 May 2007, EBTM acquired Core Brands Limited whose main trading
subsidiary was Lowlife Corporation Limited ('Lowlife'). Since the
acquisition Lowlife has continued to trade well with sales up 40%
year-on-year to the end of the period. However, the Board is adopting a
cautious outlook for the wholesale division in 2008, given current consumer
sentiment on the high street and we expect full year results to fall
materially short of current market expectations.
On 9 July 2007, the intellectual property rights related to the Atticus
clothing brand were acquired. A delay in the appointment of a licensee in
the USA has resulted in lower than expected royalty income. Licensees were
appointed in the USA and Canada post the period end.
On 15 August 2007, EBTM announced an order of some 800,000 for Atticus
clothing from a major high street retailer in the UK. The effect of this
transaction is recognised in the period ended 31 October 2007.
New agreements announced during the period with Kerrang Magazine,
Adeline Street Clothing (associated with the band Green Day) and Clandestine
Industries clothing (associated with Pete Wentz of the band Fall Out Boy).
In the four weeks leading up to the last shipment date for Christmas
2007, online sales were up 47% year-on -year. However, despite record levels
of traffic on our site, sales were below expectations as a result of
disappointing conversion rates associated with the transition to the new
e-commerce platform. However there is a plan to improve conversion rates
back to historic levels by 30 April 2008. This plan is currently on target.
The Board is pleased to announce the appointment of Simon Hargreaves,
formerly a non-executive Director as interim Finance Director whilst EBTM
seeks to make a permanent appointment to this role.
Commenting on the results, David Howell, Chairman said:
'It is pleasing to be able to report a maiden operating profit at this stage.
The acquisition made last year has helped to scale the business and create a
vertically integrated retailer with exciting growth prospects. While the delay
in the appointment of licensees in North America for the Atticus brand and the
technical difficulties we have experienced with our trading platform have
temporarily held the business back and despite our cautious view of consumer
sentiment on the high street, we remain confident that we operate in a growth
market and that we have established a strong platform which has exciting
expansion opportunities in the UK and for future periods internationally.'
Enquiries:
EBTM plc
Richard Breeden, Chief Executive 020 7819 1950
Simon Hargreaves, Finance Director 07768 637643
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram 020 7710 7400
Biddicks
Zoe Biddick 020 7448 1000
Operating Review
The half year to 31 October 2007 has been transformational in the development of
EBTM Plc.
The Group has posted its maiden operating profit of 0.16 million (compared to a
loss of 0.32 million in the equivalent period last year) and is set for
continued rapid expansion. Sales have grown to 3.59 million, assisted by the
acquisitions of the Lowlife businesses and the Atticus brand, compared with
0.52 million in the six months to 31 October 2006, an increase of 590%.
This is a position from which the directors believe we can sustain strong growth
in the future.
During the period, EBTM has made a key acquisition creating a fully vertically
integrated retailer which owns and licenses key clothing brands under the banner
of music inspired fashion, as well as having a significant and fast growing
wholesale distribution network in the UK and Europe and a sophisticated sourcing
network in the Far East.
I am pleased to announce that Simon Hargreaves has taken up the role of interim
Finance Director whilst we seek to make a full time appointment to the position.
Simon was previously a non-executive Director of EBTM plc and a Director of
Lowlife Corporation Limited prior to its acquisition by EBTM last year. His
background is as Group Finance Director of Vanco plc and Chief Executive of its
main trading division, Vanco Solutions..
Online Retail
Online sales have continued to grow. In June 2007 we moved our web platform to
Storefront, maintained by Maginus Software Solutions. This move was necessary to
provide the co-branded web stores which are part of our growth strategy.. The
new platform also allows the creation of single brand stores for our own brands,
all run from a central database and inventory.
However, because the new e-commerce platform required extensive fine-tuning, the
transition has resulted in a reduction in online conversion rates. As we address
and rectify these difficulties, conversion continues to improve but is not yet
fully restored to the level achieved prior to the transition. We are already
beginning to see the benefits of the new platform and are confident that the new
system will enable substantial growth in the product range, the customer
database and most importantly sales.
Online sales in the key four weeks leading to the last shipment date for
Christmas were up 47% year on year but, despite record levels of traffic during
this period, the lower conversion rates resulted in materially lower than
expected sales growth.
A plan is in place to restore conversion rates to historic levels by 30 April
2008. The company is currently on target to achieve this.
Acquisition of Lowlife Corporation Limited
On 31 May 2007, the Company entered into a contract to acquire the entire issued
share capital of Core Brands Limited, whose main trading subsidiary at the time
was Lowlife Corporation Limited ('Lowlife'). Lowlife is a wholesaler of music
inspired clothing and accessories. For the year ended 31 December 2006, Lowlife
reported sales of 3.5 million, and profits before tax of 646,000. At that date
it had net assets of 846,000.
In order to fund this acquisition the Company issued 110,526,315 new ordinary
shares of 0.5 pence each in the capital of the Company at 4.75 pence per share
('the Placing'). EBTM paid a total of 4.75 million prior to costs to acquire
the Lowlife business, which was settled as to 3.25 million in cash, financed by
the Placing and 1.5 million by way of an issue of 26,785,714 new ordinary
shares in the Company to Dale Masters, who owned 100% of the share capital in
Core Brands Limited.
Lowlife's products are marketed under a variety of brand names, some of which
are the subject of third party ownership and for which it pays royalties for the
right to use the brand name.
Lowlife has continued its expansion with sales growth of 40% year-on-year for
the six months to 31 October 2007. However, the Board is taking a cautious view
of the outlook for the remainder of this financial year and into the next given
current consumer sentiment on the high street. Specifically, a view has recently
been taken that several material wholesale opportunities that previously had
been viewed as having a reasonable chance of being closed in the period to 30
April 2008, will not now happen prior to this date.
The financial and operational management of the acquired businesses will be
further consolidated in 2008, creating additional cost synergies
Acquisition of Atticus clothing brand
The remaining funds from the placing were used to acquire the intellectual
property rights relating to the Atticus clothing brand for which EBTM paid
US$4.2 million prior to costs. This transaction was completed on 9 July 2007.
This is a brand which sits squarely with our proposition of music inspired
fashion.
The acquisition of the intellectual property in Atticus ensures that EBTM
controls the design process in house and we no longer have to pay royalties for
sales of the brand. The Atticus clothing brand continues to trade well through
the Lowlife distribution network in the UK and Europe and the savings in royalty
payments, anticipated at the point of acquisition in June 2007, have been
delivered in line with management expectations.
Sales of Atticus continue to grow and on 15 August 2007, EBTM announced an order
of some 800,000 for Atticus clothing from a major high street retailer in the
UK. The effect of this transaction is recognised in the period ended 31 October
2007.
Management believes that working with the right partners is crucial to build
long term value in the brand. The search for an appropriate North American
licensee and the agreement of appropriate terms with the licensee has taken
longer than expected. As a result royalty income from the USA will fall
significantly short of previous expectations in the current financial year and
is now not anticipated to reach a material level until the year ending 30 April
2009.
Since the period end we are pleased to have concluded licence agreements for the
Atticus brand with licencees in the USA and Canada. We will work closely with
our partners and expect to begin to develop revenues from these markets in
future periods.
Brands
Our in-house design and sourcing functions, capabilities acquired with the
acquisition of Lowlife, have started to enable the further acceleration of 'own
brand' products which began in 2006 and the roster of brands which we own or
distribute continues to grow.
Alongside the Atticus clothing brand there are a number of other music inspired
fashion brands which we either own or operate.
Our own brand, Lowlife, has established itself within the accessories market and
there are many opportunities to expand the reach of Lowlife products. We have
also begun to develop two new brands called Panic! and LIFE, which will
complement our existing product portfolio as we move into the next financial
year.
In addition, we entered into wholesale and online retail agreements with Adeline
Clothing (announced on 5 September 2007) and Clandestine Industries (announced
19 September 2007) and since the period end we have entered into a distribution
agreement with Rockett clothing (an established music inspired fashion brand
from California).
We intend to continue to build a strong pipeline of music inspired brands to
augment those already in our stable.
Outlook
The Group is now trading profitably. In the limited period since Christmas,
trading has been encouraging with sales of our own brands continuing to grow as
part of the overall sales mix, thereby enhancing gross margins.
While the directors are confident that the initiatives taken in the first half
year will add to future growth, we are cautious in outlook for 2008. The
temporary difficulties we have experienced with the transition to our new
e-commerce platform and the delay in the appointment of licensees for the
Atticus brand in North America, along with this cautious view for the wholesale
business as high street retail and consumer spending slows in 2008, lead us to
believe that full year results will fall materially short of our previous
expectations.
Richard Breeden
Chief Executive
21 January 2008
22 January 2008
EBTM.L
EBTM Plc ('EBTM')
Interim Results for the six months ended 31 October 2007
Key Points
Sales up 590% year-on-year, assisted by the acquisitions made in May and
July 2007, to 3.59 million (2006: 0.52 million).
The Group has posted its maiden operating profit. Profit before
amortisation, depreciation, taxation and the FRS 20 charge for share
incentives was 0.33 million (2006: loss of 0.26 million).
On 31 May 2007, EBTM acquired Core Brands Limited whose main trading
subsidiary was Lowlife Corporation Limited ('Lowlife'). Since the
acquisition Lowlife has continued to trade well with sales up 40%
year-on-year to the end of the period. However, the Board is adopting a
cautious outlook for the wholesale division in 2008, given current consumer
sentiment on the high street and we expect full year results to fall
materially short of current market expectations.
On 9 July 2007, the intellectual property rights related to the Atticus
clothing brand were acquired. A delay in the appointment of a licensee in
the USA has resulted in lower than expected royalty income. Licensees were
appointed in the USA and Canada post the period end.
On 15 August 2007, EBTM announced an order of some 800,000 for Atticus
clothing from a major high street retailer in the UK. The effect of this
transaction is recognised in the period ended 31 October 2007.
New agreements announced during the period with Kerrang Magazine,
Adeline Street Clothing (associated with the band Green Day) and Clandestine
Industries clothing (associated with Pete Wentz of the band Fall Out Boy).
In the four weeks leading up to the last shipment date for Christmas
2007, online sales were up 47% year-on -year. However, despite record levels
of traffic on our site, sales were below expectations as a result of
disappointing conversion rates associated with the transition to the new
e-commerce platform. However there is a plan to improve conversion rates
back to historic levels by 30 April 2008. This plan is currently on target.
The Board is pleased to announce the appointment of Simon Hargreaves,
formerly a non-executive Director as interim Finance Director whilst EBTM
seeks to make a permanent appointment to this role.
Commenting on the results, David Howell, Chairman said:
'It is pleasing to be able to report a maiden operating profit at this stage.
The acquisition made last year has helped to scale the business and create a
vertically integrated retailer with exciting growth prospects. While the delay
in the appointment of licensees in North America for the Atticus brand and the
technical difficulties we have experienced with our trading platform have
temporarily held the business back and despite our cautious view of consumer
sentiment on the high street, we remain confident that we operate in a growth
market and that we have established a strong platform which has exciting
expansion opportunities in the UK and for future periods internationally.'
Enquiries:
EBTM plc
Richard Breeden, Chief Executive 020 7819 1950
Simon Hargreaves, Finance Director 07768 637643
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram 020 7710 7400
Biddicks
Zoe Biddick 020 7448 1000
Operating Review
The half year to 31 October 2007 has been transformational in the development of
EBTM Plc.
The Group has posted its maiden operating profit of 0.16 million (compared to a
loss of 0.32 million in the equivalent period last year) and is set for
continued rapid expansion. Sales have grown to 3.59 million, assisted by the
acquisitions of the Lowlife businesses and the Atticus brand, compared with
0.52 million in the six months to 31 October 2006, an increase of 590%.
This is a position from which the directors believe we can sustain strong growth
in the future.
During the period, EBTM has made a key acquisition creating a fully vertically
integrated retailer which owns and licenses key clothing brands under the banner
of music inspired fashion, as well as having a significant and fast growing
wholesale distribution network in the UK and Europe and a sophisticated sourcing
network in the Far East.
I am pleased to announce that Simon Hargreaves has taken up the role of interim
Finance Director whilst we seek to make a full time appointment to the position.
Simon was previously a non-executive Director of EBTM plc and a Director of
Lowlife Corporation Limited prior to its acquisition by EBTM last year. His
background is as Group Finance Director of Vanco plc and Chief Executive of its
main trading division, Vanco Solutions..
Online Retail
Online sales have continued to grow. In June 2007 we moved our web platform to
Storefront, maintained by Maginus Software Solutions. This move was necessary to
provide the co-branded web stores which are part of our growth strategy.. The
new platform also allows the creation of single brand stores for our own brands,
all run from a central database and inventory.
However, because the new e-commerce platform required extensive fine-tuning, the
transition has resulted in a reduction in online conversion rates. As we address
and rectify these difficulties, conversion continues to improve but is not yet
fully restored to the level achieved prior to the transition. We are already
beginning to see the benefits of the new platform and are confident that the new
system will enable substantial growth in the product range, the customer
database and most importantly sales.
Online sales in the key four weeks leading to the last shipment date for
Christmas were up 47% year on year but, despite record levels of traffic during
this period, the lower conversion rates resulted in materially lower than
expected sales growth.
A plan is in place to restore conversion rates to historic levels by 30 April
2008. The company is currently on target to achieve this.
Acquisition of Lowlife Corporation Limited
On 31 May 2007, the Company entered into a contract to acquire the entire issued
share capital of Core Brands Limited, whose main trading subsidiary at the time
was Lowlife Corporation Limited ('Lowlife'). Lowlife is a wholesaler of music
inspired clothing and accessories. For the year ended 31 December 2006, Lowlife
reported sales of 3.5 million, and profits before tax of 646,000. At that date
it had net assets of 846,000.
In order to fund this acquisition the Company issued 110,526,315 new ordinary
shares of 0.5 pence each in the capital of the Company at 4.75 pence per share
('the Placing'). EBTM paid a total of 4.75 million prior to costs to acquire
the Lowlife business, which was settled as to 3.25 million in cash, financed by
the Placing and 1.5 million by way of an issue of 26,785,714 new ordinary
shares in the Company to Dale Masters, who owned 100% of the share capital in
Core Brands Limited.
Lowlife's products are marketed under a variety of brand names, some of which
are the subject of third party ownership and for which it pays royalties for the
right to use the brand name.
Lowlife has continued its expansion with sales growth of 40% year-on-year for
the six months to 31 October 2007. However, the Board is taking a cautious view
of the outlook for the remainder of this financial year and into the next given
current consumer sentiment on the high street. Specifically, a view has recently
been taken that several material wholesale opportunities that previously had
been viewed as having a reasonable chance of being closed in the period to 30
April 2008, will not now happen prior to this date.
The financial and operational management of the acquired businesses will be
further consolidated in 2008, creating additional cost synergies
Acquisition of Atticus clothing brand
The remaining funds from the placing were used to acquire the intellectual
property rights relating to the Atticus clothing brand for which EBTM paid
US$4.2 million prior to costs. This transaction was completed on 9 July 2007.
This is a brand which sits squarely with our proposition of music inspired
fashion.
The acquisition of the intellectual property in Atticus ensures that EBTM
controls the design process in house and we no longer have to pay royalties for
sales of the brand. The Atticus clothing brand continues to trade well through
the Lowlife distribution network in the UK and Europe and the savings in royalty
payments, anticipated at the point of acquisition in June 2007, have been
delivered in line with management expectations.
Sales of Atticus continue to grow and on 15 August 2007, EBTM announced an order
of some 800,000 for Atticus clothing from a major high street retailer in the
UK. The effect of this transaction is recognised in the period ended 31 October
2007.
Management believes that working with the right partners is crucial to build
long term value in the brand. The search for an appropriate North American
licensee and the agreement of appropriate terms with the licensee has taken
longer than expected. As a result royalty income from the USA will fall
significantly short of previous expectations in the current financial year and
is now not anticipated to reach a material level until the year ending 30 April
2009.
Since the period end we are pleased to have concluded licence agreements for the
Atticus brand with licencees in the USA and Canada. We will work closely with
our partners and expect to begin to develop revenues from these markets in
future periods.
Brands
Our in-house design and sourcing functions, capabilities acquired with the
acquisition of Lowlife, have started to enable the further acceleration of 'own
brand' products which began in 2006 and the roster of brands which we own or
distribute continues to grow.
Alongside the Atticus clothing brand there are a number of other music inspired
fashion brands which we either own or operate.
Our own brand, Lowlife, has established itself within the accessories market and
there are many opportunities to expand the reach of Lowlife products. We have
also begun to develop two new brands called Panic! and LIFE, which will
complement our existing product portfolio as we move into the next financial
year.
In addition, we entered into wholesale and online retail agreements with Adeline
Clothing (announced on 5 September 2007) and Clandestine Industries (announced
19 September 2007) and since the period end we have entered into a distribution
agreement with Rockett clothing (an established music inspired fashion brand
from California).
We intend to continue to build a strong pipeline of music inspired brands to
augment those already in our stable.
Outlook
The Group is now trading profitably. In the limited period since Christmas,
trading has been encouraging with sales of our own brands continuing to grow as
part of the overall sales mix, thereby enhancing gross margins.
While the directors are confident that the initiatives taken in the first half
year will add to future growth, we are cautious in outlook for 2008. The
temporary difficulties we have experienced with the transition to our new
e-commerce platform and the delay in the appointment of licensees for the
Atticus brand in North America, along with this cautious view for the wholesale
business as high street retail and consumer spending slows in 2008, lead us to
believe that full year results will fall materially short of our previous
expectations.
Richard Breeden
Chief Executive
21 January 2008
trigger45 - 01 May 2008 22:53 - 72 of 80
EBTM PLC
08 April 2008
EBTM.L
EBTM plc
('EBTM' or the 'Company')
APPOINTMENT OF GROUP FINANCE DIRECTOR
EBTM plc, the online retailer and wholesaler of music inspired fashion,
announces the appointment of Ian Richard Collins, aged 40, as Group Finance
Director with immediate effect. He is a qualified Chartered Accountant with 16
years' post qualification experience, largely gained at senior management
positions including within the music industry.
Prior to joining EBTM, Ian was Director of Financial Planning and Analysis at
Sanctuary Music Group ('Sanctuary') from June 2006 until December 2007. While at
Sanctuary, he was part of the team that turned the Recorded Music Department's
performance around in two years to a break even position from a 60 million loss
and introduced strong internal controls and processes to prepare the label for
its eventual sale to Universal Music in 2007.
His previous career included eight years at Virgin Records where he attained the
position of Head of Business Support. Following Virgin Records' merger with EMI,
he was appointed to the same role leading the consolidated EMI and Virgin team
where, reporting directly to the Chief Financial Officer at EMI Music UK, he was
responsible for reviewing the performance of all the UK's divisions as well as
leading their annual budgeting processes.
Ian has held other senior management positions, most notably as Commercial
Director for the Specialist Sector of First Choice Holidays from May 2005 to May
2006.
Ian has been granted 2,500,000 share options which will vest on the achievement
of certain profit targets for the years ending 30 April 2008, 30 April 2009 and
30 April 2010.
There is no further information required to be disclosed in respect of Mr
Collins pursuant to Paragraph (g) of Schedule 2 of the AIM Rules.
Simon Hargreaves, who has been filling the role of interim Finance Director,
will resume his previous position as a non-executive director. In recognition of
the contribution that Simon has made, he has been granted options over 1,000,000
ordinary shares at a price of 2.38p per share. 500,000 of these may be exercised
now and the balance in 18 months' time, conditional on continued employment.
Grant Calton, Commercial Director, has indicated his intention to reduce his day
to day involvement with the business and will relinquish his executive
responsibilities with immediate effect. Grant has agreed to continue his
involvement with the Company as a non-executive director.
Commenting on the changes, David Howell, Chairman, said:
'The business is in a phase of rapid development and I am delighted that Ian
will be joining us at this time. His wide ranging financial experience, both
inside the music industry and outside it, will be invaluable to us.'
08 April 2008
EBTM.L
EBTM plc
('EBTM' or the 'Company')
APPOINTMENT OF GROUP FINANCE DIRECTOR
EBTM plc, the online retailer and wholesaler of music inspired fashion,
announces the appointment of Ian Richard Collins, aged 40, as Group Finance
Director with immediate effect. He is a qualified Chartered Accountant with 16
years' post qualification experience, largely gained at senior management
positions including within the music industry.
Prior to joining EBTM, Ian was Director of Financial Planning and Analysis at
Sanctuary Music Group ('Sanctuary') from June 2006 until December 2007. While at
Sanctuary, he was part of the team that turned the Recorded Music Department's
performance around in two years to a break even position from a 60 million loss
and introduced strong internal controls and processes to prepare the label for
its eventual sale to Universal Music in 2007.
His previous career included eight years at Virgin Records where he attained the
position of Head of Business Support. Following Virgin Records' merger with EMI,
he was appointed to the same role leading the consolidated EMI and Virgin team
where, reporting directly to the Chief Financial Officer at EMI Music UK, he was
responsible for reviewing the performance of all the UK's divisions as well as
leading their annual budgeting processes.
Ian has held other senior management positions, most notably as Commercial
Director for the Specialist Sector of First Choice Holidays from May 2005 to May
2006.
Ian has been granted 2,500,000 share options which will vest on the achievement
of certain profit targets for the years ending 30 April 2008, 30 April 2009 and
30 April 2010.
There is no further information required to be disclosed in respect of Mr
Collins pursuant to Paragraph (g) of Schedule 2 of the AIM Rules.
Simon Hargreaves, who has been filling the role of interim Finance Director,
will resume his previous position as a non-executive director. In recognition of
the contribution that Simon has made, he has been granted options over 1,000,000
ordinary shares at a price of 2.38p per share. 500,000 of these may be exercised
now and the balance in 18 months' time, conditional on continued employment.
Grant Calton, Commercial Director, has indicated his intention to reduce his day
to day involvement with the business and will relinquish his executive
responsibilities with immediate effect. Grant has agreed to continue his
involvement with the Company as a non-executive director.
Commenting on the changes, David Howell, Chairman, said:
'The business is in a phase of rapid development and I am delighted that Ian
will be joining us at this time. His wide ranging financial experience, both
inside the music industry and outside it, will be invaluable to us.'
trigger45 - 01 May 2008 22:55 - 73 of 80
EBTM PLC
30 April 2008
EBTM.L
EBTM plc
(the 'Company' or the 'Group')
Pre-Close Statement
EBTM plc is an AIM quoted, vertically integrated online retailer and wholesaler
of music inspired fashion. Prior to entering its close period for the year ended
30th April 2008, the Board of EBTM plc today issues the following trading
update.
The Board is pleased to announce that trading for the latter part of the
financial year has been in line with management's expectations at the time of
the announcement of interim results in January 2008. As a result we anticipate
that the Company will report a maiden full year profit before tax. Adjusted
EBITDA and cash generation are expected to be in line with current market
expectations. Revenue for the full year is also expected to be in line with
market expectations and substantially ahead of the previous year, assisted by
the acquisitions made in June 2007. Good progress has been made since our last
update in January 2008 and the Board believes that the business is well placed
for continued growth.
Site conversion issues identified at the time of the interim results have been
addressed successfully and levels are now back to historic rates, with room for
significant further improvement. We continue to work through a company-wide plan
to maximise the benefits to our business of the brands and capabilities acquired
in the acquisitions. In particular, we are making good progress in increasing
the proportion of own brand products within the online sales mix. This has the
effect of enhancing our margins.
The Board is continuing to seek royalties and new revenue streams from its
stable of own brands. Ownership of the Atticus and Lowlife brands secures the
largest source of revenue for the wholesale business, brings margin benefits
both from licensees and from sales made by our own online and wholesale
activities. Signs are encouraging from our licensee of the Atticus brand in
North America and EBTM plc has saved around 400,000 in royalties in this
financial year by virtue of the acquisition of the brand in July 2007. The Board
has also sought further direct international wholesale relationships for EBTM
brands with some success, particularly with Lowlife branded accessories in the
USA.
The wholesale market has performed in line with expectations at the time of the
interim results despite some challenging trading conditions on the UK high
street. As of today's date, the forward order book for delivery in Autumn 2008
is healthy with mainland Europe showing good growth.
Whilst the Board remains cautious about the outlook for the wholesale business
bearing in mind current conditions on the High Street in the UK, the outlook for
the Group remains positive, in particular for the key online retail business.
In addition, the Board announces that on 30 April 2008, David Howell,
Non-executive Chairman, was granted 500,000 options at 2.6p, exercisable on or
after 21 October 2010. They will expire after ten years from the date of the
grant.
30 April 2008
EBTM.L
EBTM plc
(the 'Company' or the 'Group')
Pre-Close Statement
EBTM plc is an AIM quoted, vertically integrated online retailer and wholesaler
of music inspired fashion. Prior to entering its close period for the year ended
30th April 2008, the Board of EBTM plc today issues the following trading
update.
The Board is pleased to announce that trading for the latter part of the
financial year has been in line with management's expectations at the time of
the announcement of interim results in January 2008. As a result we anticipate
that the Company will report a maiden full year profit before tax. Adjusted
EBITDA and cash generation are expected to be in line with current market
expectations. Revenue for the full year is also expected to be in line with
market expectations and substantially ahead of the previous year, assisted by
the acquisitions made in June 2007. Good progress has been made since our last
update in January 2008 and the Board believes that the business is well placed
for continued growth.
Site conversion issues identified at the time of the interim results have been
addressed successfully and levels are now back to historic rates, with room for
significant further improvement. We continue to work through a company-wide plan
to maximise the benefits to our business of the brands and capabilities acquired
in the acquisitions. In particular, we are making good progress in increasing
the proportion of own brand products within the online sales mix. This has the
effect of enhancing our margins.
The Board is continuing to seek royalties and new revenue streams from its
stable of own brands. Ownership of the Atticus and Lowlife brands secures the
largest source of revenue for the wholesale business, brings margin benefits
both from licensees and from sales made by our own online and wholesale
activities. Signs are encouraging from our licensee of the Atticus brand in
North America and EBTM plc has saved around 400,000 in royalties in this
financial year by virtue of the acquisition of the brand in July 2007. The Board
has also sought further direct international wholesale relationships for EBTM
brands with some success, particularly with Lowlife branded accessories in the
USA.
The wholesale market has performed in line with expectations at the time of the
interim results despite some challenging trading conditions on the UK high
street. As of today's date, the forward order book for delivery in Autumn 2008
is healthy with mainland Europe showing good growth.
Whilst the Board remains cautious about the outlook for the wholesale business
bearing in mind current conditions on the High Street in the UK, the outlook for
the Group remains positive, in particular for the key online retail business.
In addition, the Board announces that on 30 April 2008, David Howell,
Non-executive Chairman, was granted 500,000 options at 2.6p, exercisable on or
after 21 October 2010. They will expire after ten years from the date of the
grant.
trigger45 - 01 May 2008 23:01 - 74 of 80
The interim Results for the six months ended 31 October 2007 was not received very well imho, and the share price has suffered as a consequence.
With the appointment of a new FD and the latest trading statement it looks as if things are finally back on track. The share price responded well on the news today.
http://www.growthcompany.co.uk/news-and-comment/325326/ebtm-into-the-black.thtml
With the appointment of a new FD and the latest trading statement it looks as if things are finally back on track. The share price responded well on the news today.
http://www.growthcompany.co.uk/news-and-comment/325326/ebtm-into-the-black.thtml
trigger45 - 02 May 2008 10:38 - 75 of 80
Rising strongly again this morning.
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