blur Group is a technology company reinventing how businesses do commerce at blurgroup.com. Its Global Services Exchange delivers services differently: a new way to buy, manage and pay for core services. As of July 2013, more than 30,000 businesses in 141 countries have adopted this s-commerce platform and changed the way they work. 100 projects per month from companies like Broadridge, Coral, Exceed, HCA, Momentive, Red Commerce, the Financial Times, Berlitz, Butlins, GE Healthcare and Tyco are received. Over the same time, average brief value has grown from around US$1,500 in 2010 to US$10,800 in the first quarter of 2013. By mid-2013, more than 2,200 projects had been submitted with a combined value of over US$35 million. These have come from the US, UK, Europe, Africa and Asia with over 28,000 expert service providers on eight exchanges responding to them


http://blurgroup.com/

Proposed Placing and Open Offer

RNS


RNS Number : 8756H

Blur Group PLC

23 May 2014



blur Group Plc

("blur Group" or the "Company")



Proposed Placing and Open Offer

and

Notice of General Meeting



blur Group plc (BLUR), a business services marketplace in the cloud at blurgroup.com, is pleased to announce that it has conditionally raised approximately $20.0 million (£11.9 million) (before expenses) through the issue of 15,873,015 New Ordinary Shares by way of a Placing at 75 pence per New Ordinary Share and up to a further $2.0 million (£1.2 million) through the issue of up to 1,587,314 New Ordinary Shares by way of an Open Offer at 75 pence per New Ordinary Share. N+1 Singer is acting as nominated adviser and broker to the Company in connection with the Issue.



The net proceeds of the Placing will be used to accelerate growth through investment in sales, technology, marketing and customer services and for working capital purposes to strengthen the balance sheet. It is the intention that any proceeds received by way of the Open Offer will be used for general working capital purposes.



The Placing Shares will represent approximately 37 per cent. of the enlarged issued share capital of the Company. The Placing Price represents a discount of 28.9 per cent. to the Closing Price of 105.5 pence per Ordinary Share as at 22 May 2014 (being the latest practicable date prior to the date of this announcement).



Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on LSE AIM. On the assumption that, inter alia, the Resolutions are passed, it is expected that admission of the New Ordinary Shares will become effective on or around 11 June 2014.



The Placing is conditional on, inter alia, the passing of the Resolutions at the General Meeting, including a special resolution which will give the Directors the required authority to disapply statutory pre-emption rights in respect of the allotment of the Placing Shares.



A General Meeting of the Company will be held at 12.00 p.m. on 10 June 2014 at the offices of blur Group plc, Eagle House, 1 Babbage Way, Exeter Science Park, Clyst Honiton, Exeter, Devon EX5 2FN.



Philip Letts, blur Group CEO, said:



"The support of our shareholders and new investors provides us with the funds to invest in areas which we believe will be the key drivers for future profitability, being sales, technology, marketing and customer services. The continued increase in bookings in 2013 and into 2014 illustrates our first mover advantage in the emerging services-commerce market, and underpins a stronger financial position in the long term. With 45,000 businesses on our Global Services Exchange, from 145 countries worldwide, we believe we have the foundation from which to build a world leading global technology company, addressing a significant market opportunity. We look to the future with confidence."



Copies of the circular, which will be posted to shareholders later today, will shortly be available on the Company's website (www.blurgroup.com) and will also be available at the Company's office at Eagle House, 1 Babbage Way, Exeter Science Park, Clyst Honiton, Exeter, Devon EX5 2FN.

Capitalised terms used in this announcement have the meanings given to them in the circular.

Final Results

RNS


RNS Number : 8764H

Blur Group PLC

23 May 2014






May 23, 2014

blur Group plc

("blur," the "Group" or the "Company")



Final Results



blur Group plc (BLUR), a business services marketplace in the cloud at blurgroup.com, is pleased to announce audited final results for the year ended 31 December 2013.



Operational Highlights



● Creation of global HQ in Exeter, UK supported by regional sales offices in US and London, UK

● Launch of blur 3.0 - multiple enhancements made to trading platforms including the re-architecture of the platform to support high volumes of briefs, projects, partners, experts and customers

● Project bands on the Global Services Exchange increased to receive projects of over $1m in Q1, rising again to $5m in Q3 2013

● In 2013, 2,086 new briefs were submitted, 169% up on 2012

● Successful share placing conducted in June 2013, raising $11.97m (£7.62m) before expenses



Financial Highlights



● Total project booking intake1 increased by $19.8m to $22.2m (2012 $2.4m)

● Revenue increased by 70.1% to $4.78m (2012 $2.81m)

● Gross profit increased by 58.9% to $1.16m (2012 $0.73m)

● LBITDA2 increased to $6.37m (2012 $1.81m)

● Cash balance as at 31 December 2013 of $9.56m (2012 $4.45m)



1The total bookings intake represents the project values (excluding listing fees) as agreed and confirmed by the customer in the year. It is used to measure the total expected revenue to be recognized over the life cycle of these projects and can include a proportion that is contingent, with revenues being recognized in the current and future periods, either over timelines or upon milestones being achieved. This booking value may change over time due to the scale, contingent elements and complexity of projects.



2 LBITDA is loss before interest, tax, depreciation and amortization.



Post Year End Highlights

● Proposed capital raising to raise approximately $20 million by way of a placing, and up to an additional $2 million through an open offer, to continue growth through investment in sales, technology, marketing and customer services, strengthen the Balance Sheet and take the Company through to profitability





Philip Letts, blur Group CEO, said:



"Our goal in 2014 is to firmly establish blur Group in the enterprise space, delivering consistently on a higher volume of projects. We will continue to attract and deliver for the small business at scale and increasingly cost effectively. Developments in our technology platform, embedded in our blur 4.0 launch, will deliver true enterprise levels of scalability and automation. We believe this move will provide organizations with the confidence to use what we call 'services-commerce' to source every aspect of the long-tail of their services procurement.


"We made good progress in 2013, but I strongly believe that we have only scratched the surface. We are confident that we are at the cusp of major, profitable growth as the benefits of s-commerce are experienced and understood by our markets. I look forward with confidence into 2014 and beyond."

Sell while u can.
target 40p.

makes WAND look like a stellar performer

And this was £8 plus at one time....

Took a punt at 81.95p, not far away from the 75p open offer, already X today

maybe is going to be a long wait due to the Placing open offer.

not like you to piss against the wind

I fear 60p is coming first....

cynic

RE - not like you to piss against the wind

THERE WAS NO WIND AT THE TIME
SO I ALMOST DONE IT ON MY SHOES

But now the wind has change and taking a forward direction and already at 85p middle
maybe after all I will not have to wait to long.

You should by know about my timing

Director buying and paying 90p ........

David Sherriff, Non Executive Director, bought 44,100 shares in the company on the 23rd May 2014 at a price of 90.00p. The Director now holds 44,100 shares.

I may be tempted to come back in at some point but only at the same price as the big boys, ie. 75p.

chuckle! ..... 81 to 85 won't make you many beans, but better up than down

do not be cheeky

do I have to repeat you that Rome was not build on one day

2nd today
Directors buying

The Company has also been notified today that on 23 May 2014, Robert Brooksbank, Non-Executive Director of the Company, bought 69,000 Ordinary Shares at a price of 85 pence per share.

i steer away from this one, because i really don't like MM-only stocks, and worse still, it really only trades (as far as i can make out) on 4 specific times a day

Watch: blur Groups (blur)

Missed the live results webcast streamed on Fri? Click the link below for the replay version

Click here to watch

Do I see going up, not here naturally but other places showing UP on the day by now 87p +2p

Back to the IPO offer give or take

Based on fundamentals, what is a fair price, as I am clueless?

Jack shit re price seems fair!

Some may not like it and others have no reason to rubish the stock just because do not undertand the business but must butt it in. ( find any other excuse )

oh well is another penny up

I just go with the trend and trying to make some money ( pretty good lately )

panto - you're certainly pretty good (a lot of the time!) at picking stocks that are due for momentum upside correction ..... however, that does not necessarily mean that they will be winners longer term, as may well be the case here