gordon geko
- 30 Jun 2005 17:04
i've got a load of these from way back written them off but may get my money back and more heres hoping................
Tom Hoskins PLC - Statement re. Suspension
RNS Number:9897N
Tom Hoskins PLC
24 June 2005
Tom Hoskins PLC ('Tom Hoskins' or the 'Company')
Tom Hoskins are pleased to announce that they have entered into heads of
agreement to acquire:
* the entire issued share capital of Bioloop Mobile Wireless Plc,
('Bioloop') a wholly owned subsidiary of HLT Limited; and
* the entire issued share capital of Mobile Automated Payments
(Singapore) Pte, ('MAP') a wholly owned subsidiary of Mobile Automated
Payments Pty Ltd, (together the 'Transaction').
The Transaction, which is conditional, inter alia, on due diligence being
undertaken on Bioloop and MAP, and admission of the enlarged entity to trading
on AIM, would constitute a reverse takeover under the AIM Rules. Consequently
the Company's ordinary shares will be suspended from trading pending publication
of an admission document in respect of the proposed enlarged entity.
Bioloop has developed a next generation wireless payment system for global
distribution. The system incorporates one of the worlds smallest (palm size)
combination mobile phone and card payment system terminals as well as being Chip
and PIN compliant.
Bioloop has been establishing markets for its products in Britain with its
primary market being UK taxis and private hire vehicles, most of which do not
have Chip and PIN compliant card payment terminals for the payment of fares. MAP
holds the licence to use Bioloop's system in the taxi and private hire vehicle
markets in the UK.
Bioloop has commenced a pilot for an end to end card payment system in a
selection of London taxis which, if successful, would result in its installment
into further taxi and private hire vehicles.
In the taxi and private hire vehicle market, Bioloop will generate its income
from surcharges on fares paid by credit, debit and charge cards. Cash flow will
be immediate as these fees are remitted to Bioloop by the acquiring bank within
3 days of the card transaction.