Legins
- 31 Oct 2003 11:01
moneyman
- 28 Jul 2005 22:22
- 246 of 279
Nice news today and a slight markup. More on the cards tomorrow.,
jj50
- 31 Aug 2005 13:59
- 247 of 279
For anyone that missed it!
Eckoh Tech - Re Symphony Telecom
Website Fundamentals Share Price
RNS Number:6553Q
Eckoh Technologies PLC
31 August 2005
For Immediate Release 31 August 2005
Eckoh Technologies plc
("Eckoh" or the "Company")
Eckoh's wholly owned subsidiary Symphony Telecom Holdings plc
to seek a separate listing on AIM
Key Points:
*Flotation of Symphony will create long-term value for Eckoh shareholders
*Eckoh to focus on growing Speech Solutions division
*Eckoh's management team delivering on its ongoing strategic review
*Eckoh to hold a minimum of 64.64 per cent. of the issued ordinary share
capital of Symphony
*Symphony proposing to raise 4.51 million, before expenses with an
expected market capitalisation of 12.75 million
The transaction
Eckoh, one of Europe's leading speech application service providers, is pleased
to announce that Symphony Telecom Holdings plc ("Symphony"), a wholly owned
subsidiary, is to seek a separate listing on AIM. The flotation of Symphony,
which forms part of an ongoing strategic review of Eckoh will create long-term
value for Eckoh's shareholders.
As part of the flotation, Symphony is proposing to carry out a placing of
10,997,561 ordinary shares in order to raise 4.51 million, before expenses. As
a result of the flotation of Symphony, Eckoh is expected to hold a minimum of
64.64 per cent. of the issued ordinary share capital of Symphony on admission,
and accordingly, Symphony will continue to be a subsidiary of Eckoh. Symphony's
financial results will therefore continue to be consolidated into the financial
statements of Eckoh and its subsidiary undertakings (the "Eckoh Group") until
such time as Eckoh's shareholding falls below 50 per cent.
Rationale and reasons for the flotation of Symphony
Since July 2004, Eckoh's directors and its advisor have been evaluating a number
of strategic options for Symphony, in order to create long-term value for Eckoh
and to simplify the Eckoh Group. Following Symphony's acquisition of Anglia
Telecom Centres Limited ("Anglia Telecom") on 29 April 2005, the directors are
of the opinion that the flotation of Symphony will achieve these objectives.
Eckoh's continuing operations
Following the flotation of Symphony, the continuing Eckoh Group will operate two
principal trading divisions - Eckoh Speech Solutions and Eckoh IVR.
Eckoh Speech Solutions
Eckoh is a leading European provider of self-service call centre solutions using
advanced speech recognition and related technologies. The Company has a speech
alliance with BT to provide its corporate customers with hosted speech
recognition services. This contract was recently extended to 2010.
Eckoh's current Speech Solutions' clients include TD Waterhouse, Barclays,
William Hill, UGC and Vue Cinemas, ATOC (Association of Train Operating
Companies), Northern Ireland Electricity and O2.
During the year ended 31 March 2005, Speech Solutions increased turnover by 56
per cent. to 5.0 million compared to the prior financial year (2004 - 3.2
million) and generated a gross profit margin of 53 per cent. (2004 - 53 per
cent.).
Eckoh IVR
Eckoh's IVR division operates in two distinct markets, as follows:
Advertised Services
Eckoh provides a range of consumer entertainment products such as dating,
community chat, competitions and content services, which are available to both
fixed line and mobile users.
During the year ended 31 March 2005, turnover from the advertised services
market was 11.6 million (2004 - 11.6 million) with a gross margin of 43 per
cent. (2004 - 34 per cent.).
Client Services
Eckoh delivers end-to-end IVR solutions including creation, design, development,
implementation, deployment, hosting and reporting to a number of prominent media
owners such as ITV, Trinity Mirror, Channel 4, IPC, EMAP and Northcliffe
Newspapers.
During the year ended 31 March 2005, turnover from the client services market
was 39.0 million (2004 - 22.6 million) and generated a gross profit margin of
9 per cent. (2004 - 10 per cent.).
Strategy of Eckoh's continuing operations
It is intended that during the remainder of the current financial year, the
directors will continue their strategic review of the continuing Eckoh Group,
with a view to maximising long-term value for shareholders by focusing on
Eckoh's growing Speech Solutions business. This ongoing strategy is demonstrated
by the announcement today of the flotation of Symphony and also by the recent
announcement on 1 August 2005, relating to the disposal of Freecom.net Limited
("Freecom"), Eckoh's internet services subsidiary, to eDirectory.co.uk plc.
During this review, Martin Turner will remain as CEO of Eckoh, although it is
intended that he will step down from the executive Board following completion of
the strategic review, which is expected by the end of the current financial
year.
Current trading and prospects
On 7 July 2005 Eckoh announced its preliminary results for the year ended 31
March 2005. The Company reported a 28 per cent. increase in turnover to 79.7
million (2004 - 62.5 million), an increase in pre-tax profits to 0.9 million
(excluding intangible asset amortisation and impairment charges) (2004 pre-tax
loss of 0.3 million) and an increase in year end cash balances to 13.3 million
(2004 - 10.2 million) reflecting strong cash generation from operations during
the financial year. Excluding Symphony and the recently disposed of Freecom
subsidiary, Eckoh generated a pre-tax loss for the year ended 31 March 2005 of
0.4 million (excluding intangible asset amortisation and impairment charges) on
turnover of 55.6 million.
Eckoh is currently trading broadly in line with management's expectations,
although Speech Solutions revenues in the first half of the current financial
year are likely to be adversely impacted by lower call volumes to its cinema
ticketing services. Notwithstanding this trend, based on current trading, the
financial performance of the Eckoh Group for the year ended 31 March 2005,
recent commercial contract successes, including the renewal of the BT contract,
the disposal of Freecom and ongoing discussions with a number of potential new
clients, the Directors are confident of the Company's future prospects.
Circular to shareholders and notice of EGM
On admission of Symphony to trading on AIM, Eckoh will hold approximately 64.64
per cent. of the issued share capital of Symphony. However, in anticipation of a
future transaction which could reduce Eckoh's holding in Symphony to below 50
per cent., Eckoh is to seek the necessary approval of its shareholders at the
extraordinary general meeting of the Company to be held at 10.00a.m. on 21
September 2005. Accordingly, the Company has today posted a circular to
shareholders, incorporating the necessary notice of EGM (the "Circular"). Words
and expressions used in this announcement have the same meaning as those set out
in the Circular.
For further enquiries, please contact:
Eckoh Technologies plc Tel: 08701 100 700
Martin Turner, Chief Executive Officer
Nik Philpot, Chief Operating Officer
Adam Moloney, Group Finance Director
Evolution Securities Tel: 020 7071 4300
Matt Wood / Bobbie Hilliam
Buchanan Communications Tel: 020 7466 5000
Jeremy Garcia
Notes to Editor:
About Symphony Holdings plc ("Symphony")
Symphony comprises two wholly owned subsidiaries, Symphony Telecom Limited
("Symphony Telecom") and Anglia Telecom Centres Limited ("Anglia Telecom")
Symphony Telecom
Symphony Telecom commenced trading in 1997 to exploit opportunities in the UK
telecoms market and established a fixed line operation in the UK targeting the
SME marketplace through PBX equipment dealers.
In February 1999, Symphony Telecom became part of the Eckoh Group. Symphony
Telecom's products and services now include fixed line, mobile, data products
and services, which are sold to the UK SME market.
Symphony Telecom's turnover for the year ended 31 March 2005 was 21.0 million,
generating pre-tax profits of 1.3 million.
Anglia Telecom
Anglia Telecom was founded in 1984 and specialises in mobile distribution for
the major UK mobile network operators (Orange, Vodafone, O2, T-Mobile and 3)
through a network of over 280 dealers. Anglia Telecom also offers fixed line
services to the UK SME market.
Symphony acquired Anglia Telecom on 29 April 2005. Anglia Telecom's turnover for
the year ended 31 March 2005 was 30.5 million generating pre-tax profits of
1.3 million.
This information is provided by RNS
The company news service from the London Stock Exchange
ahoj
- 14 Dec 2005 10:33
- 248 of 279
LArge buys at 9.75 yesterday and a fall today!!
ahoj
- 14 Dec 2005 12:14
- 249 of 279
Eckoh Technologies PLC
14 December 2005
For Immediate Release 14 December 2005
Eckoh Technologies plc
Additional Listing
Eckoh Technologies plc have issued 321,632 ordinary shares of 0.25p each as
follows:
Pursuant to the Eckoh Technologies plc Share Option Scheme (1999) options over
321,632 ordinary shares of 0.25p each have been exercised, at 9.0p per share.
The Shares rank pari passu with the existing issued shares of the Company.
An application for the new ordinary shares to be admitted to trading on the
Alternative Investment Market has been made with the London Stock Exchange.
Dealings in these shares are expected to commence on Monday 19 December 2005.
This information is provided by RNS
The company news service from the London Stock Exchange
bonfield
- 08 Feb 2006 11:31
- 250 of 279
its moving at last. any gossip?
blinger
- 14 Feb 2006 10:43
- 251 of 279
Now that IS interesting news about the bird register, with bird-flu` on the way surely this must sell- see todays RNS!
Peadar10
- 15 Feb 2006 19:48
- 252 of 279
2 contract wins in two days. Starting to gain momentum. Has anyone any idea what these contracts are worth
queen1
- 23 Jun 2006 22:05
- 253 of 279
It's been an excellent week for ECK. Anyone have any views on the Symphony deal?
queen1
- 28 Jun 2006 19:03
- 255 of 279
It is Legins. Onwards and upwards from here I feel!
Pastor
- 08 Jul 2006 11:51
- 256 of 279
I understand eckoh have been tipped in Shares Mag
Anyone know the content?
I bought 80k after results and suprised that they have dropped back slightly.
any views?
canary9
- 12 Aug 2006 09:11
- 257 of 279
Today's Times reports rumour of a bid for Eckoh Tech.
queen1
- 13 Aug 2006 18:00
- 258 of 279
Ah, that'll be the reason for the nice move upwards yesterday then. Monday could be interesting :-)
canary9
- 13 Aug 2006 19:35
- 259 of 279
Hope so, I've been holding these too long!!!...........many break-outs but no sustained run up so far. Cash pile could be attractive to someone.
canary9
- 14 Aug 2006 07:59
- 260 of 279
Independent reports bid to be 50m.
canary9
- 14 Aug 2006 09:39
- 261 of 279
Eckoh Technologies PLC
14 August 2006
Eckoh Technologies plc
STATEMENT REGARDING POSSIBLE OFFER
The Board of Eckoh Technologies plc (the 'Company') notes the recent movement in
the Company's share price, and announces that it has received an approach which
may or may not lead to an offer being made for the entire issued and to be
issued share capital of the Company. The approach is of a preliminary nature and
there is no certainty that it will result in an offer actually being made.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the
Company announces that it has 272,406,475 ordinary shares of 1p each in issue.
Further announcements will be made as appropriate.
Contact
Corporate Synergy Plc: Brian Stockbridge 7448 4400
END
queen1
- 14 Aug 2006 13:20
- 262 of 279
I've been holding for about 3 years! What are your thoughts on the 50m canary9? A good starting point or fully factored?
canary9
- 14 Aug 2006 13:36
- 263 of 279
Queen1,I wish I knew! With 25M of cash, the rest of the business would be valued at 25M, which is on the low side imo, but it is a long time since this share traded above 18p. I thought the sell out of SMY was on the low side considering the price to sales, so what do I know? Either way I come out at a nice profit!
queen1
- 14 Aug 2006 19:27
- 264 of 279
Disappointed to see the sp dip back to today's starting point. An indication perhaps that the market doesn't feel the bid has legs?
queen1
- 06 Sep 2006 22:36
- 265 of 279
So what news on the offer then? The sp seems to be slowly drifting southwards again.