Topped the share charts on Friday following a lucrative contract announcement and is rumoured to have several more contracts in the pipeline.

Website www.coms.com

Oh dear, I should have sold - not looking good today.

Hopefully has found support around the 4p level now after a lot of selling.

The warrant converters selling has pulled them back. Results as expected, I am encouraged by margins and will be just a matter of time for a few more large deals to be announced. Hold on to your shrs, the 10p (revised to 30 not sure how serious the latter was) in sight once deals announced. Rumour on another board although don't like them is that a big deal dwarfing the mitie contract about to be

"about to be" ----------- what robstuff? I hope you were not about to say -------- announced on Twitter by David Breith!!!!!!!!!

No, hearsay on another board. IMO DB will be announcing more big deals, these take time, I'd like to know the progress of the Mitie business and whether more business to come from it as reported in the Daily Mail a while ago

RNS Number : 1342N
Coms PLC
03 September 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD BE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION (EACH A "RESTRICTED JURISDICTION")
COMS PLC
("Coms" or the "Company")
Statement Regarding a Possible Offer
3 September 2013
The Board of Coms plc (the "Board") notes the recent share price movement in the shares of Pinnacle Technology Group plc ("Pinnacle") and confirms that it is considering a possible corporate transaction with Pinnacle that could result in an offer by Coms for the entire issued and to be issued ordinary share capital of Pinnacle being made. In the event that an indicative offer is made, it is the current expectation of the Board that any such indicative offer would be at or around 21p per Pinnacle share.
This is an announcement falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Code"). It does not represent a firm intention to make an offer under Rule 2.7 of the Code. Discussions are at a very preliminary stage and accordingly, there can be no certainty that any transaction or offer for Pinnacle will ultimately be forthcoming.
In accordance with Rule 2.6(a) of the Code, Coms must, by not later than 5.00pm on 30 September 2013, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
A further announcement will be made when appropriate.

I think we need to find out how this indicative offer might be funded.

I've sold out here as I'm not happy with various issues, one of them being that the CEO seems to be very much up his own exhaust pipe and he may be trying to take this company too far, too fast. I can't see how this proposed offer for PINN can be funded - without some sort of placing/fund raising.

I have sold, I know I've not made much and half the amount I could have had on Monday but cannot sit and watch me loose anymore money. Watch them fly now.

I have sold, I know I've not made much and half the amount I could have had on Monday but cannot sit and watch me loose anymore money. Watch them fly now.

PINN equity will cost approx £6.7m at 21p per share. Net cash at COM is currently £1.026m. As you say db4, question is , how are they going to raise the money? However, if the deal goes through, the acquisition should then strengthen the COM position in the market, turnover, profitabilty etc.

Going up since my sell. Wish you had posted the above earlier Harrycat as I got the gitters and went. Ah! well, story of my life. gl

It depends on your trading/investing strategy 3m. Some people will sell immediately on the issue of fund raising or any other reason that the sp might drop in the short term, but others will hold on seeing past the short term pain for the longer term gain. COM must think that buying PINN strengthens their position, so once the deal is concluded, assuming PINN accept the price, hopefully the sp will recover. Even if the deal falls through, the sp was happy at the 4p level, so I would expect it to regain the lost ground.

21p per Pinnacle share does seem to be rather generous when you consider that the sp has gone down from 32p in April to around 17p in August. I agree with you HARRY and think the COMS sp will get back to 4p.

So why did you sell then db???

3 monkies - I hope the following helps regarding my 'logic' in selling here.

If I'm in doubt whether or not to hang on to a share that seems to be going South I start going back to the basics of why I bought it in the first place before making a decision about selling. I've lost too much money in the past by hanging on to a share for the wrong reasons when I should have cut my losses and moved on. I sold this on Tuesday partly because I thought that the sentiment on various bulletin boards was very negative and partly because I don't like CEOs, like David Breith who post on Twitter. It was April when he said he was going to get the share price to 10p "in the near future" - well I'm not sure what his interpretation of "the near future" is when we are now in September.

I bought into a company by the name of Deal Group Media about 10 years ago and was sitting on a very large profit when the share price started to go South. Despite some very well informed chartists who kept saying it was time to sell I thought I knew better and kept hanging on thinking the sp was going higher and in the end I lost a lot of money. It was a painful lesson, but one that I needed at the time.

There is a well known saying that " a profit isn't a profit until it is banked" and in the case of COMS I decided to bank my profit on Tuesday as I had originally bought in when the share price was 2p. I'm sitting on the sidelines here at the moment having sold out for the time being. I think this company has huge potential, but shareholders need exact clarification about the indicative offer for Pinnacle and how it is going to be funded.

HarryCat

Net Cash at Coms at the end of August is £2.8m, there was a line in Monday's RNS that said, "Through further issues of equity since the period end, the Company is now well capitalised to deliver on its ambitious growth plan with cash balances at the end of August of c.£2.8m".

Remember the RNS on 13th August where Novum converted £1.7m of their warrants. If they like the idea of the takeover they could convert the remaining £1.3m. giving COMS £4.1m.

I'm sure that Shares in Coms will form part of the Offer, these will offer PINN shareholders a far better return than they would get by just holding PINN shares.

Statement re Possible Offer

Update on possible offer


Pinnacle Technology Group plc (AIM:PINN), the AIM listed, IT Managed Services Provider, notes the announcement made by the Board of Coms plc ("Coms") on 3 September 2013 regarding its consideration of a possible corporate transaction with Pinnacle that could result in an offer by Coms for the entire issued and to be issued ordinary share capital of Pinnacle being made.

The Company's Board confirms that it has since received a non-binding indicative offer for the entire issued and to be issued ordinary share capital of Pinnacle on the expected terms as described in the Coms announcement.

The Board believes that such an indicative offer is opportunistic and significantly undervalues the growth prospects of the Company. As such the Board of Pinnacle is not recommending the offer to its shareholders.

5 September 2013

The question now I suppose - is David Breith going to up the offer and pay more than 21p per share?

Or threaten to walk away and see if he can call PINN's bluff. They were bound to try and push up the price. Just remains to be seen if they really think PINN is worth more than 21p.