Nice rises Friday and today,after being tipped up by Money Week magazine ,with first half sales up 86%,and a cheaper Broadband bundle than Car Phone warehouse,a forward p/e of 15.4 and a likely takeover target seems the one to be on in a guarateed consolidating sector.

considering forthcoming sale.sp is very disapointing.todays trades mostly look like sells at 13p.not the best sign.

Yes, considering everything it's crap isn't it ?

PXC has a nasty habit of raising expectations only for all to be met by deafening silence ...... i shall just allow my holding to gather more moths and dust, though i genuinely find it hard to beleive that Dubens will allow everything to go to sleep ..... after all, if my reading is correct, he would like to acquire the rump himself

dont like the idea of selling broadband to tiscali and dubens holding on to the rest in a management buy out.as has been suggested.we the shareholders will get rogered.i suspect this is a possible cause of the low interest at the moment.september should bring news and renewed interest in wi-max.if dubens and crew havent nicked the company by then.

you might not like the picture i painted, but i bet that's the reality.
neither tiscali nor the previous contenders seemed to have any interest or appetite for more than the broadband (and web hosting?)
frankly, if i make a profit, i'm not fussed who buys what

held for over 3 years myself.still believe the sp could reach 20p+.there was ample opertunity to get out at 17.5p but the big money held onto their shares.the times wrote some time ago about dubens dumping the residential aspects of the company and cocentrating on business telecoms.wi-max will find ready customers when it is launched.i suspect councils up and down the country will be keen to promote the technolagy the only concern is if we will have had our shares cheaply removed from us by the .

Pipex Communications Plc. (PXC LN): Tiscali SpA is close to an agreement to acquire Pipex's broadband and voice services unit for 210 million pounds ($426 million), the Financial Times reported, without citing anyone. The purchase may be announced as early as today, the newspaper said. Pipex shares added 0.25 pence, or 1.9 percent, to 13.25.

Don't you jusy hate those "total voting rights" announcements!

210 million for Pipex's broadband and voice services unit that would give .10p per share i think.. if Peter Dubens, had hoped to sell off its entire business for a price on the whole group of about 400 million. which would have been say 17p per share
how much is he looking to pay for wi-max........ .

13 July 2007

13 July 2007


PIPEX COMMUNICATONS PLC

Sale of Broadband and Voice Division


Pipex Communications plc, a major provider of telecommunications and internet
solutions including broadband, voice, web hosting and network services, today
announces that it has entered into an agreement for the sale of its subsidiaries
owning its consumer Broadband and Voice division to Tiscali S.p.A. (Borsa
Italiana, Milan: TIS) for a total consideration of approximately 210 million,
on a debt-free basis, before adjustments. The corporate broadband customers
will remain within the Pipex Group.


The subsidiaries being sold to Tiscali are: Switch2 Telecoms Limited, Pipex
Homecall Limited, Toucan Residential Limited, Pipex Internet Limited and Toucan
Residential Ireland Limited.


Pipex's Broadband and Voice division is a leading provider of telecommunications
and Internet services in the UK market, reporting revenues of 231.7 million and
profit before tax of 13.9 million, excluding amortisation of goodwill and
inter-company interest, in the year ended 31 December 2006. As at 31 December
2006, net tangible assets stood at 13.1 million, excluding goodwill,
investments and inter-company balances. At that time, the division had
approximately 570,000 Broadband customers and 480,000 Voice customers.



The transaction, which constitutes a fundamental change of business for the
purpose of the AIM rules, is conditional, inter alia, on shareholder approval
and also competition clearance being received.



A circular convening an Extraordinary General Meeting will be posted to
shareholders shortly.



The proceeds of the disposal will be placed on fiduciary deposit pending the
directors' consideration of its further application.



Pipex was advised on the transaction by UBS Limited and Oakley Capital.



The continuing group

Following the disposal of the Broadband and Voice division, the Group will
consist of 3 divisions namely Web Hosting, Business Services and Pipex Wireless
(WiMAX).



Hosting

The growth in Pipex's hosting operations has been impressive, with a year on
year growth in active services exceeding 24%. In the ground breaking area of
virtualised hosting solutions and virtual private servers, Pipex Hosting
achieved in excess of 90% customer growth, and is now one of the two largest
hosting providers by subscriptions in Europe (based upon SW-Soft statistics).
Pipex's domain name market share has also increased by 25% over the last year,
to 2 million domains. More than one in every five domains in the UK is
registered through Pipex hosting.



Pipex's new data centre in Germany which utilises the latest technological
advances to ensure energy efficiency is now fully operational, and was a
contributing factor in Pipex winning the prestigious "Best Enterprise Internet
Hosting Provider in Germany" from the eco Internet Awards 2007.



Business Services

Pipex Business Services, the SME and Corporate unit, has seen good growth in the
high end hosting, leased line and IPVPN sectors. New contracts have been
secured from large organisations including T-Mobile, Servista, Cost Cutter, Red
Bull Racing, Rosebys, British Museum and British Library. There has also been an
increase in additional services being taken by long standing corporate customers
such as Littlewoods Gaming (Sportech plc) and Alliance & Leicester.



New product launches include Boundary Networks, a secure private network that
enables organisations to extend the security capabilities of their internal
network across the Internet to the remote user CPE device. This enhances
business continuity for retailers with an innovative approach to remote branch/
store and mobile office security.



Pipex Wireless (WiMAX)

Following the successful launch of WiMAX services using licensed spectrum in
trials in Milton Keynes, Warwick and Leamington Spa, Pipex has generated
considerable interest from other councils who are considering offering WiMAX
services.



In addition to partners Intel, National Grid Wireless and Ericsson, the division
has announced a strategic partnership with Nokia Siemens Networks which covers
network infrastructure, services and software. Together, Pipex Wireless and
Intel will launch wireless services across the UK.



Pipex Wireless is now focusing on the commercial launch of the business which
will take place in Manchester later this year. During 2008 commercial WiMAX
services will be made available in a number of additional cities as the network
expands in the West Midlands and the North West. During this period Pipex
Wireless will also trial and launch a number of value-added products and expand
the routes to market and channel partners in order to deepen market penetration.



The regulatory environment within Europe for the spectrum has improved
significantly in recent months, and the division will continue to work with both
the regulator and the industry to optimise its position.



Peter Dubens, Executive Chairman of Pipex, commented:



"Over the past 3 years, Pipex has successfully transformed the scale and quality
of its Broadband and Voice customer base. In the consolidating UK market,
today's announcement crystallises value for shareholders, and ensures that
Pipex's customers will continue to receive a wide range of competitive, high
quality communications and internet services.



"The strategic review announced in March remains in progress regarding the
Group's other businesses, which continue to show strong growth in all areas.
The Group is also reviewing options for the efficient distribution to
shareholders of the proceeds from the sale of the Broadband and Voice division.
Further updates will be provided in due course."

thanks for that.. not having any pos+ impact on SP is it ? ... (I suppose it's not surprising to us long term holders!)

i no what you meen but there's lots of movement and the sp will go up today when the news sinks in

SP was rubbish before the release and it's still rubbish ! but as you say, I think the sp will go north when all the analysis/projections etc., have been done sio will stick with this a little longer!

suspect pipex will clear its depts and top up their cash account and maybe hand back something like 4p in a special divi.share price will drop accordingly.but the bussiness going forward looks encouraging.there is still a possibility of a sale of the remainder of the bussiness the hosting side might be open to private equity while any of the telecoms could make a move on pipex wireless.been working in america for a few years.verison sells a card that fits into your pc sd slot.and you pay a monthly subsciption.its a model pipex will probebly follow.time to top up i think.

not sure i would top up, but def worth continuing to hold as the end of the saga has yet to come, though could be a further 12/18 months away, or even longer

times on saturday claims dubens hinting at a further sale.taking 210m out of 305m cap leaves 105m less dept.the sp is well short of the breakup value of pipex.cant wait for the egm.any sign of a date yet.

If I was BT the wimax part of pipex would make a good hedge for when those paying line rental disappear when they can get their roaming connection included in their voice and broadband with another provider.

Shortened version!

Irvine Energy acquires US oil and gas assets from Metro Energy Group


LONDON (Thomson Financial) - Irvine Energy PLC said it has signed an
agreement with Metro Energy Group Inc to purchase producing and prospective oil
and gas acreage in Oklahoma and Kansas.
The AIM-quoted oil and gas exploration company said the deal will expand its
current land position in Kansas and provide it with low-cost oil and gas
production and developments within highly prospective oil and gas regions.
Irvine will acquire up to 50 pct working interest in 52,000 acres of oil and
gas leases in Oklahoma, covering the proven Woodford Shale and emerging Caney
Shale, as well as multiple stacked conventional reservoirs, for 9.35 mln usd in
cash.
It will also procure 50 pct working interest in 4,490 acres in Kansas
targeting the Niobrara shallow gas play for 1.75 mln usd in cash.
However, the agreement is conditional on Irvine finalising appropriate
financing, which may include the placing of new shares, and ordinary due
diligence.
Irvine said it is currently considering various fundraising options for
working capital and has received indicative terms for a 50 mln usd mezzanine
finance facility.
Metro will be the operator for the Oklahoma Project and Niobrara Project and
will have a 50 pct working interest in the Niobrara Project.
"Metro has now commenced an aggressive work programme encompassing both
Kansas and Oklahoma, which begins the planned completion of 30 new wells in the
remaining half of 2007," Irvine chairman Doug Manner said.
Managing director Aaron Close said the production in Oklahoma will provide
Irvine with immediate revenue, and early data suggest that this can be increased
in the near-term.

oops! sorry guys... posted to the wrong thread...but take a look at IVE anyway... it's potentially more exciting than PXC... but then again anything is !

over the last 2-3 years there has been quite a few knockers of wi-max on this site saying its a technoligy that will never come to fruishion.were are they now.the pipex licence is about to gain some value.the heigher the better.