AdEPT Telecom plc, formerly AdEPT Telecom, is a United Kingdom-based company providing voice and data telecommunications services to both domestic and business customers. The Company provides fixed line calls, line rental, mobile and data connectivity products to thousands of business and residential customers across the United Kingdom. The Company offers a range of business telecom products for all sizes of business. AdEPT's Inbound Call Handling services offer a way to manage inbound calls, with online access enabling customers to implement changes instantly. AdEPT broadband products offer unlimited downloads and Internet speeds of up to 16 megabits, 50 megabits of Webspace. As at March 2010, AdEPT has completed the acquisition and integration of 16 telecom businesses, all of which have been integrated and trade under the AdEPT Telecom brand

http://www.adept-telecom.co.uk/data-connections/data-quote-tool

Half yearly report

Highlights
Revenue and EBITDA
·      Total revenue increased by 36% to £22.6 million (2016: £16.5 million)
·      EBITDA increased by 34% to £4.7 million (2016: £3.5 million)
·      EBITDA margin 21.0% (2016: 21.4%)
 
·      Managed services revenue accounted for 68% of total revenue (2016: 53%)
·      Managed services revenue increased by 75% to £15.3 million (2016: £8.8 million)
 
PBT, EPS and Dividends
·      Profit before tax increased by 36% to £2.1 million (2016: £1.5 million)
·      Adjusted profit before tax increased by 29% to £3.9 million (2016: £3.0 million)
·      Adjusted EPS increased by 20% to 13.3p (2016: 11.1p)
·      Interim dividend increased by 13% to 4.25p per share (2016: 3.75p)
 
Cash Flow and Debt
·      Operating cash flow before tax of £3.8 million (2016: £3.2 million)
·      Reported EBITDA to pre-tax cash from operating activities 86% (2016: 99%)
·      Net senior debt of £20.8 million (2016: £10.8 million)
·      BGF convertible loan note of £7.3 million used to fund Atomwide Limited acquisition
 
Acquisitions
·      CAT Communications earnout settled in June 2017
·      Comms Group earnout settled in full in July 2017
·      Acquisition of Atomwide Limited completed in August 2017

Top Director Buys
Adept Telecom (ADT)
Director name: Kingsman ,Christopher
Amount purchased: 129,537 @ 305.12p
Value: £395,249.77

Director Increases Shareholding
RNS
RNS Number : 7825F
AdEPT Telecom plc
23 February 2018

AdEPT Telecom plc
("AdEPT" or the "Company")

Director increases shareholding

AdEPT (AIM: ADT), one of the UK's leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, was notified today that on 22 February 2018 Christopher Kingsman (Non-Executive Director) had increased his shareholding in the Company following the purchase of 100,000 ordinary shares of 10p each ("Ordinary Shares") by Greenwood Investments Limited at a price of 305.125p per Ordinary Share.

Following the purchase, Mr Kingsman has a total beneficial interest in 4,249,357 Ordinary Shares held via Greenwood Investments Limited, representing approximately 17.9 per cent. of the current issued share capital of the Company.

Director increases share holding

Trading Update
RNS
RNS Number : 8671J
AdEPT Telecom plc
05 April 2018

AdEPT Telecom PLC
("AdEPT" or the "Company")

Trading Update
AdEPT (AIM: ADT), one of the UK's leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, today announces a trading update for the year ended 31 March 2018 (ahead of its final results which are expected to be announced in early July 2018).
· Net senior debt of £18.05m was lower than market expectations
· Underlying EBITDA increase will be slightly ahead of market expectation of a 23% rise year-on-year
· Board recommendation of an increased final dividend of 4.50p per share (2017: final 4.00p)
· Total dividends proposed for the year of 8.75p per share represents an increase of 13% over the prior period
Trading performance
The Company is pleased to announce that it anticipates that underlying EBITDA will be slightly ahead of the market consensus expectation of a 23% rise year-on-year. Turnover is also expected to be above market consensus expectation of a 29% rise year-on-year.
The deferred consideration period in relation to the acquisition of Our IT Department Limited ended on 31 January 2018 and we are pleased to announce that the results for the 12 month post-acquisition period exceeded the maximum consideration threshold. The deferred consideration for Our IT Department Limited of £3.65 million will be paid in early April 2018.
Cash flow and net debt
Net senior debt of £18.05m as at 31 March 2018 was lower than market expectations which arises largely from the timing of the payment of deferred consideration in relation to Our IT Department Limited being made after year end, combined with the impact of EBITDA being ahead of market expectation. AdEPT continues to generate consistently strong free cash flow conversion from EBITDA with a capital asset light model.
Cash flow generation in the year is after payment of (i) £12.14m aggregate initial consideration for the acquisition of Atomwide Limited, (ii) £3.46m deferred consideration for the acquisition of Comms Group (UK) Limited and (iii) a £0.38m increase in dividends paid in the year.
Dividends
AdEPT announced an interim dividend of 4.25p per share in its September 2017 interim statement, which will be paid to shareholders on 7 April 2018.
The Board today announces that as a result of strong free cash flow and trading results it recommends an increased final dividend of 4.50p (2016: 4.00p) per share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2018. Total dividends proposed for the year ended 31 March 2018 of 8.75p per share represent a 13% increase year-on-year (2017: 7.75p).

Final Results
RNS
RNS Number : 0665U
AdEPT Telecom plc
10 July 2018

AdEPT Telecom plc
("AdEPT", the "Company" or together with its subsidiaries the "Group")
Final results for the year ended 31 March 2018
AdEPT (AIM: ADT), a leading UK independent provider of award-winning managed services for IT, unified communications, connectivity and voice solutions, announces its results for the year ended 31 March 2018.
Financial highlights
· 15th consecutive year of increased underlying EBITDA up 24.8% to £9.8m (2017: £7.8m)
· Revenue increased by 34.8% to £46.4m (2017: £34.4m)
· Gross margin % increased by 5.4% to 47.7% (2017: 42.3%)**
· Underlying EBITDA margin % of 21.0% (2017: 22.7%)
· Profit before tax increased by 32.8% to £4.5m (2017: £3.4m)
· 26.2% increase to adjusted fully diluted earnings per share to 27.69p (2017: 21.94p)
· 12.9% increase to dividends declared to 8.75p (Interim 4.25p, Final 4.50p) (2017: 7.75p)
· Year-end net senior debt* of £17.6m (2017: £15.5m)
· Capital expenditure 0.8% of revenue (2017: 0.3%)
Operational highlights
· Managed services accounted for 69.8% of total revenue (2017: 55.4%)
· Acquisition of entire issued share capital of Atomwide Limited completed in August 2017

* Net senior debt is defined as cash and cash equivalents less short-term and long-term bank borrowings and prepaid bank fees
** Excluding £0.755m Openreach compensation credits

Commenting upon these results Chairman Roger Wilson said:
"AdEPT has delivered a 25% increase to underlying EBITDA for the year ended 31 March 2018 and the Group continues to deliver consistently high levels of free cash flow generation with more than 80% of reported EBITDA turned into net cash from operating activities after tax. The continued strong cash generation has funded a 13% increase to dividends declared during the year and the Board is confident that continued focus on underlying profitability and cash generation will support a progressive dividend policy.
Free cash flow generated combined with the drawdown of part of the accordion debt facility, put in place in February 2017, and the convertible loan from BGF, was used by the Company to complete the earnings enhancing acquisition of Atomwide Limited during the current period. The acquisition completed during the year combined with organic sales have increased the rate of transition of the Group towards a complete managed service provider, with revenue from managed services accounting for 70% of the total in the year ended 31 March 2018."

Acquisition of Shift F7
RNS
RNS Number : 2072Y
AdEPT Telecom plc
20 August 2018

AdEPT Telecom Plc

("AdEPT" or the "Company")

Acquisition of Shift F7 Group Limited

AdEPT (AIM: ADT), a leading UK independent provider of award-winning managed services for IT, unified communications, connectivity and voice solutions, is pleased to announce that it has signed an agreement to acquire the entire issued share capital of Shift F7 Group Limited ("Shift F7") and its subsidiaries Shift F7 Limited and Greencorn Limited, a well-established UK based specialist provider of IT services to the commercial sector ("the Acquisition").

Acquisition highlights
· Initial cash consideration of £5 million less net debt and tax liabilities of Shift F7 at 31 July 2018
· Expected to be earnings enhancing from completion
· Approximately 75% of Shift F7's gross margin is from recurring revenue streams
· Highly complementary product set for telecommunication and IT convergence
· Shift F7's customer focus on London and South East
· Highly experienced senior management team that will remain with Shift F7
· Pre-existing commercial relationship of more than 10 years between AdEPT and Shift F7
· AdEPT annualised group revenue run rate anticipated to increase by approximately 10%

Strategic rationale
The acquisition of Shift F7 fits perfectly into the Company's acquisition strategy as it further expands the commercial IT capability and customer base of AdEPT, whilst providing the Company with continued geographical focus on London and the South East.

Shift F7 is a vendor-independent managed service provider which offers its clients outsourced managed IT and telecoms solutions, including IT support, hosted IT, cyber-security, data connectivity and next generation IP telephony services. The products and services of Shift F7 are highly complementary to those of the existing IT service divisions in the AdEPT Group. In addition, the teams at Shift F7 and AdEPT have been working together for more than 10 years in relation to the supply of telecom and data connectivity services.

AdEPT and Shift F7 have both focused on recurring margin and capital asset light strategies which are highly cash generative. Approximately 75% of Shift F7's gross margin is generated from recurring products and services.

Information on Shift F7
Shift F7, founded in 1995, is a highly accredited IT services provider with over 20 years' experience, offering highly specialised IT support services and technology solutions to more than 200 commercial mid-market customers.

Shift F7 has security accredited dedicated hosted platform environments in London Docklands and Heathrow. Key suppliers include Citrix, Microsoft, HP, Cisco, Ericsson LG and VMWare.

All services provided by Shift F7 are supported by a highly experienced team of IT professionals based at Shift F7's premises in Dorking, Surrey, which will be retained post-acquisition. The senior management team responsible for the strategic direction, technical development and the day-to-day operations of Shift F7 are to be retained within the business post-acquisition.

The unaudited management accounts for Shift F7 and its wholly owned subsidiaries for the year ended 31 May 2018 show turnover and EBITDA on a proforma combined basis of £5.0 million and £0.7 million respectively. Capital expenditure in the year ended 31 May 2018 was £0.2 million. The consolidated net and gross assets of Shift F7 and its subsidiaries at 31 May 2018 were £2.3 million and £3.6 million respectively.


Consideration
Initial consideration for the Acquisition is £5.0 million in cash less the net debt and tax liabilities of Shift F7 at 31 July 2018 (estimated to be £0.5 million). Pursuant to the terms of the acquisition agreement, the Acquisition is deemed to have been effective from 1 August 2018 and therefore AdEPT will also receive the trading contribution of Shift F7 from that date. The initial consideration will be funded out of the drawdown of AdEPT's existing bank revolving credit facility. Further consideration of up to £2.9 million may be payable in cash dependent upon the trading performance of Shift F7 in the 12 months post-acquisition.

Ian Fishwick, Chief Executive of AdEPT, commented:
"We are delighted to have acquired such a high quality, well-run and profitable business with a strong management team. Shift F7 is an excellent fit because it enhances our market position in IT, particularly in London. Shift F7 complements our acquisition of OurIT in February 2017 which is also focused on London and South East commercial customers. After the Shift F7 acquisition, more than 70% of AdEPT revenue will be generated from managed services including IT support, unified communications and data networks. The Acquisition is expected to be earnings enhancing from completion."

AGM Statement,Interim Dividend & Notice of Results
RNS
RNS Number : 0507C
AdEPT Telecom plc
27 September 2018


THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

AdEPT Telecom PLC
("AdEPT" or the "Company")

AGM Statement
15.3% increase to Interim Dividend
Notice of Results

AdEPT Telecom plc, one of the UK's leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, is holding its 2018 annual general meeting at 10.15am today at 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. At the meeting, the Chairman, Roger Wilson, will make the following statement:-

"I am pleased to report that, in the 6 months to the 30 September 2018, AdEPT made considerable progress in its strategy of further expanding its managed service and IT capability, with continuing geographical focus on London and the South East. This progress has been made through a combination of organic sales from IT and managed services and the contribution from our acquisition of Shift F7 Group Limited ("Shift F7"), a commercial IT business. Providing a full suite of managed services, AdEPT is in an excellent position to take advantage of the continuing convergence between IT and telecoms.

Included in the AGM resolutions there is a proposal to change the name of the Company to AdEPT Technology Group plc. With more than 75% of revenues being generated from managed services and IT, the board believes that this new name better reflects the products and services being provided by the Company. Should the resolution be passed, the Company is expecting the change of name to take effect from Monday, 1 October 2018.

Although our interim results for the 6 months ended 30 September 2018 are not expected to be published until 13 November 2018, the Board is confident that they will support its progressive dividend growth policy. Therefore, the Directors are declaring an interim dividend of 4.90p per Ordinary Share in respect of the 6 months ended 30 September 2018, an increase of 15.3% over the interim dividend of 4.25p for the comparative period.

This dividend will absorb approximately £1.1 million of shareholders' funds (September 2017: £1.0 million). It is proposed by the Directors that this dividend will be paid on 8 April 2019 to shareholders who are on the register of members on the record date of 15 March 2019.

The Company's most recent acquisition in the IT space, Shift F7, was announced in August 2018. Shift F7 is a highly accredited IT services provider with over 20 years' experience, offering highly specialised IT support services and technology solutions to more than 200 commercial mid-market customers. Shift F7 is a vendor-independent managed service provider which offers its clients outsourced managed IT and telecoms solutions, including IT support, hosted IT, cyber-security, data connectivity and next generation IP telephony services. The products and services of Shift F7 are highly complementary to those of the existing IT service divisions within AdEPT. In addition, the teams at Shift F7 and AdEPT have been working together for more than 10 years in relation to the supply of telecom and data connectivity services.

The integration of Shift F7 into the Group has only just begun and as this acquisition was made part-way through the current financial year, it will only have two-month contribution to the interim financial results. We look forward to providing further information on the results for the period and the early progress of Shift F7 at the time of our interim results when these are announced on 13 November 2018."

Result of AGM
RNS
RNS Number : 1696C
AdEPT Telecom plc
27 September 2018



AdEPT Telecom PLC
("AdEPT" or the "Company")

Result of AGM & Change of Name

AdEPT Telecom plc, one of the UK's leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, is pleased to announce that at its annual general meeting held earlier today, all resolutions were duly passed.

As a result, the Company confirms that as of 08.00 a.m. on Monday, 1 October 2018, its shares will trade under the new name AdEPT Technology Group plc. The TIDM remains ADT and there is no change to the Company's ISIN: GB00B0WY3Y47.

The Company's website remains at www.adept.co.uk

Change of Name
RNS
RNS Number : 5692C
AdEPT Telecom plc
01 October 2018


1 October 2018

AdEPT Telecom PLC
("AdEPT" or the "Company")

Further re: Change of Name

Following shareholder approval at the Company's AGM held on 27 September 2018, AdEPT is pleased to confirm that the required documentation to effect the Company's name change has now been received from Companies House. Therefore the Company's change of name will now take effect as of 08.00 a.m. on 2 October 2018. Its shares will trade under the new name AdEPT Technology Group plc, the TIDM remains ADT and there is no change to the Company's ISIN: GB00B0WY3Y47.

Acquisition and extension of Banking Facility
RNS
RNS Number : 6948G
AdEPT Technology Group PLC
08 November 2018

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

AdEPT Technology Group Plc

("AdEPT" or the "Company")
Acquisition and extension of Banking Facility
ACQUISITION OF ETS COMMUNICATIONS HOLDINGS LIMITED
AdEPT Technology Group plc, one of the UK's leading independent providers of managed services for IT, connectivity, unified communications solutions and cloud services, announces that it has signed an agreement to acquire the entire issued share capital of ETS Communications Holdings Limited ("ETS Holdings") and its trading subsidiary ETS Communications Limited ("ETS Comms"), (together referred to as "ETS") both well-established UK based specialist providers of unified communications services.

Acquisition highlights
· Initial consideration of £2.5m less the net debt of ETS at 31 October 2018
· Expected to be earnings enhancing from completion
· AdEPT group revenue run rate anticipated to increase by approximately 5%
· Highly complementary unified communications product set, including Avaya IP Office and Ericsson-LG
· ETS enhances AdEPT healthcare strategy with more than 200 GP surgeries as customers
· Highly experienced vendor to remain with ETS

Strategic rationale
ETS offers its clients the delivery of unified communications solutions, with particular expertise in the Avaya IP Office product set. The highly skilled team together with the well-matched customer base and product set at ETS will complement AdEPT's existing unified communication services offering provided by the Northampton office of AdEPT.

AdEPT and ETS have both adopted capital asset light strategies which are highly cash generative and are dedicated to offering a full suite of unified communication and data connectivity services.

Information on ETS
ETS, founded in 1981, is an independent unified communications services provider based in Wakefield with nearly 40 years' experience. ETS is focused on providing unified communications and connectivity to business customers and has a strong public sector presence, including managing and supporting cloud-based telephony solutions to more than 200 GP surgeries.

One of the vendors of ETS is to be retained in his current capacity within the business for a period of at least 12 months post-acquisition.

The statutory accounts of ETS for the year ended 31 March 2018 reported turnover, operating profit and profit before tax of £3.16 million, £0.32 million and £0.31m respectively. Capital expenditure in the year ended 31 March 2018 was insignificant. Net and gross assets (pro-forma consolidated basis) at that date were £0.10 million and £0.53 million respectively.

Consideration
Initial consideration of £2.5 million less the net debt of ETS at 31 October 2018 ("Net Debt") is payable in cash. Pursuant to the terms of the share purchase agreement, the effective date of the acquisition is 1 November 2018. Further consideration of up to £1.75 million may be payable in cash dependent upon the trading performance of ETS in the 12 month period ended 31 October 2019. The total consideration will be funded out of AdEPT's enlarged bank facility, with headroom in the facility to support further acquisitive growth.

Ian Fishwick, Chief Executive of AdEPT, commented:
"We are delighted to have acquired such a high-quality business with a highly experienced vendor remaining with ETS post-acquisition. With AdEPT having an existing specialist Avaya IP Office operation in Northampton, the acquisition of ETS builds on this capability and extends the geographical reach to Yorkshire and Lincolnshire. ETS has a well-developed customer base with long term relationships, which builds upon AdEPT's existing public sector healthcare presence. The acquisition is expected to be earnings enhancing from completion."

NEW BANK FACILITY

· Debt facility enlarged to £35 million
· Increased capacity to support acquisition growth strategy

The Board of AdEPT also announces that it has signed a £5 million extension to its existing £30 million 5-year revolving credit facility agreement, enlarging the total debt facility to £35 million.

The enlarged facility is to be provided by Barclays Bank Plc ("Barclays") and The Royal Bank of Scotland Plc ("RBS) on an equal basis. The facility will be used by AdEPT to fund acquisition of businesses that extend the AdEPT product set and by being part of the AdEPT group, will benefit from economies of scale. The terms of the enlarged facility remain the same as the existing facility.


Roger Wilson, Chairman of AdEPT, commented:
"We are delighted to have obtained the continued support of the teams at RBS and Barclays to provide a larger syndicated debt facility. This enlarged bank facility provides the Company with additional funding to undertake the acquisition of ETS as AdEPT continues with its strategy of acquiring earnings enhancing businesses."

Half-year Report
RNS
RNS Number : 1094H
AdEPT Technology Group PLC
13 November 2018

AdEPT Technology Group plc

("AdEPT" or the "Company", together with its subsidiaries the "Group")

Interim results for the 6 months ended 30 September 2018

AdEPT (AIM: ADT), one of the UK's leading independent providers of managed services for IT, unified communications, connectivity, voice and cloud services, announces its unaudited results for the 6 months ended 30 September 2018.

Highlights
Revenue and EBITDA
· Total revenue increased by 9.5% to £24.4 million (2017: £22.3 million)
· Managed services revenue increased by 19.2% to £18.0 million (2017: £15.1 million)
· Managed services revenue up to 74% of total revenue (2017: 67%)
· EBITDA* increased by 10.7% to £5.2 million (2017: £4.7 million)
· EBITDA* margin 21.2% (2017: 20.9%)

PBT, EPS and Dividends
· Adjusted profit after tax** increased by 13.4% to £3.7 million (2017: £3.2 million)
· Adjusted EPS increased by 11.7% to 14.5p (2017: 13.0p)
· Interim dividend increased by 15.3% to 4.9p per share (2017: 4.25p)

Cash Flow and Debt
· Reported EBITA conversion to pre-tax cash from operating activities 81.9% (2017: 90.7%)
· Net senior debt at period end of £25.1 million (2017: £20.8 million)
· £8.5m of funds used to fund Shift F7 Group Limited acquisition and Our IT earnout

Roger Wilson, Chairman, commented:

"I am delighted by the continued progress being made by the Group in its transformation into a managed service provider for unified communications and IT. The results for the period demonstrate the strength of our capex light model and our organic and acquisitive growth strategy.

Trading continues to be in line with management's expectations, we continue to be highly cash generative and with a fully supportive investor base and funding partners we remain confident in our strategy to identify earnings-enhancing acquisitions whilst retaining scope for a progressive dividend policy."

*Earnings before interest, tax, depreciation, amortisation and excluding one off acquisition costs and share based payments
** Adjusted profit after tax represents profit after tax adding back one off acquisition costs and amortisation

No one seems to be following you on this one DC but the half yearly report and the graph, plus increasing div has my attention now. Will watch to see where the drop stops with the sp.