Think it might pay to have a few of these.

Jim Mellon knows a bargain when he sees it.

Restructuring would leave it on a very lowly P/E and in my opinion one for the future. Present price circa of 33p.

This RNS makes for interesting reading.

Billing Services Group Limited
02 April 2007


Not for release, publication or distribution, in whole or in part, in, into or
from the United States, Canada, Ireland, Australia or Japan, or any other
jurisdiction where to do so would constitute a violation of the relevant laws of
such jurisdiction.

2 April 2007

Billing Services Group Limited
('BSG' or the 'Company')

Proposed: Disposal of Wireless Business for $290m in cash; $105m underwritten
Refinancing of continuing Wireline Business; and one-time cash payment to
Shareholders

BSG, one of the telecommunications industry's leading clearing and settlement,
payment and financial risk management solutions groups, today announces:

the proposed sale of its European Wireless Business to Syniverse
Technologies, Inc. ('Syniverse') for $290 million in cash;
a $105m refinancing of its continuing Wireline Business resulting in a
lower debt-to-EBITDA ratio than that of the current BSG Group, with an
underwritten facility through Morgan Stanley Senior Funding, Inc.;
upon Completion the Company will repay its existing debt facilities of
approximately $250m;
Shareholders to receive a one-time cash payment of between 20 to 22
pence per Common Share, subject to completion of the transactions;
future strategic focus to be on its cash-generative, market-dominant
North American Wireline Business, which accounted for approximately 60% of
the group's 2006 pro-forma EBITDA;
the intention to initiate regular payments of dividends from the highly
profitable Wireline Business;
the ongoing business will also continue -
o the current expansion into financial payment services; and
o to benefit from already established, increasing cost efficiencies; and
the Board has received financial advice in relation to the Disposal from
Morgan Stanley.

Commenting on developments, Randall Brouckman, Chief Executive Officer of BSG
said:

'I am delighted to report today better than expected financial and operating
results, the conclusion of our strategic review, the refocusing of our business
through the proposed disposal of our Wireless operations and the payment of a
one-time cash payment to shareholders.

'Today's developments and separately released financial results clearly
demonstrate the value in our Wireless business and the highly cash generative
nature of our Wireline business. These transactions enable us to maximise
shareholder value through both the positive return for shareholders while
maintaining a basis for future growth.

'Subject to the necessary approvals, we can now concentrate attention on growing
our Wireline business as we seek to create further value for shareholders from
growth through a more targeted and financially unencumbered business and the
regular payment of dividends.'

ENQUIRIES

Billing Services Group Limited +44 (0)20 7071 4300
Randall W. Brouckman, CEO (for 2 April 2007 only)
Norman M. Phipps, CFO



DYOR.

GF, when is the ex-date for the cash distribution?

This is what Ive found ST, looks after the disposal that it will be on a very low P/E and Mellon usually spots the bargains. Has links with Conister Trust aswell.

.........

Subject to the approval of the resolutions at the SGM, the timetable for the
proposed cash distribution to Shareholders, to be made by way of the proposed
reduction of capital, will be set and announced following the completion of the
Disposal and Refinancing

Interesting stuff, definitely. however, I'm slightly curious as to why the co would not pay down more of its debt. The cash handout should be equivalent to around $120 million, yet they will be retaining debt of $105 mil. After restructuring, that might cost $7 or 8 mil to maintain. The whole company only made $16.7 mil operating profit, so it's not as if they will be awash with profits post-breakup.

I would say the co has to be very confident of its prospects for the future, which may be justified by the strong numbers of new contracts signed in Q1 this year.

I guess the gradual increase in the SP over the past few months also offers grounds for hope.

I think they are very confident on prospects ST after the first quarter.

18.04.07: +0, (32.75) an article in the Times reports: Billing Services Group was unchanged at 32.75p in heavy volume amid talk that Jim Mellon, the financier, had upped his stake to 12% from 10.9%. The clearing services group has promised to make a one-off payment to investors of between 20p and 22p a share this year. Dealers reckon that could happen within the next three months.

Good stuff, GF. Will keep an eye on this. prospects are definitely improving.

A top-of-my head calculation indicates that if you combine the effect of the sale of wireless, the paying down of debt and the cash dist., and assume no revenue growth in comparison with last year, you wind up with a co with a market value of around 31 mil that just about breaks even or makes 1 mil profit. So if sales are taking off (28 contracts in Q1, compare 72 for 2006, which is 18 per quarter), then things could actually start lookng quite healthy.

Goldfinger, do you know how these cash distributions are treated for tax purposes?

Lifted off another board...

tipster luke heron says today

'If you don't already own the shares in this company, I suggest tucking a few away. You will get two thirds of your capital back within 3 months, and what is left, will at least double in my view, within the next three months. So, in real terms, we are looking at a return of at least 30%. At 32p, the stance is "strong buy".'

It does look like fair comment, does it not?

I'm warming to this one. Certainly the idea of getting two-thirds of one's capital back sounds great. And if the co is really experiencing a change in fortunes, this could be one of those as-yet undiscovered ones.

Fine analysis that ST.

The answer at the moment is no until I get further detail on the distribution.

AND again from another free board (google searches have just come on to my radar)......

Professional tipster Luke Heron has endorsed his strong tip on BILL saying today

''A reminder
.....of a cracking trading play published here on Friday. I hope those of you that found my pearls on Billing Services (BILL) in Friday's daily offering interesting, managed to pick up a few - if you didn't it is still well worth doing so. To put in remarkably simple terms, if you buy now at 33p, you will get at least 20p per share back in cash within the next 3 months or so, after which point you will be left with a stock on a PE of less than 4. For further background information I strongly advise revisiting Friday's Daily Offering. At 33p, the stance is very much a "strong buy". ''

Slowly but surely moving north.

GF

I like this one yet another good one from you. I'm in but had to pay nearly full price.

MS

Spreads narrow though which is a good thing.

Looks like some big buys this afternoon Mickey.

Good start to the week and looks like some decent buy volume already.... interesting.

EU inquiry deadline for Syniverse buy of Billing Services Group unit July 10
AFX


BRUSSELS (Thomson Financial) - The European Commission said the deadline for its inquiry into technology services group Syniverse Holdings Inc's proposed 290 mln usd acquisition of UK-based Billing Services Group Ltd's (BSG) wireless clearing and financial settlement business is set for July 10.

The sum comprises of cash, including debt to be refinanced at closing.

Syniverse provides services to wireless telecommunications companies.

BSG provides clearing, settlement, payment and financial risk management services to communications service providers. The company serves about 180 wireless operators around the world, Syniverse said.

Syniverse said in early April that it expects the acquisition to be accretive to adjusted net income and cash net income in 2007.

The company added it plans to keep its European headquarters in the Netherlands and its European operations in BSG's facilities in Germany and the UK.



simon.zekaria@thomson.com

sz/jfr

Billing Services Group Limited
28 June 2007


Billing Services Group Limited ('the Company')

Re: Annual Report and Accounts

Copies of the Company's annual report and accounts for the year ended 31
December 2006 are available from the Company at the following address; c/o The
Hogarth Partnership, No. 1 London Bridge, London, SE1 9BG. The annual report and
accounts are also available from the Company's website: www. bsgclearing.com.

28 June 2007


This information is provided by RNS
The company news service from the London Stock Exchange

Good contract win....

Billing Services Group Limited
23 July 2007



NEWS RELEASE

Contacts:
Julian Walker - Investor relations
The Hogarth Partnership
+44 (0)20 7357 9477

jwalker@hogarthpr.co.uk

Erin Brennan Gilmore
Blanc & Otus Public Relations - US media relations
+1 512 372 6653

ebgilmore@blancandotus.com


Golden Telecom selects BSG Clearing Solutions for Financial Clearing Services

LONDON - July 23, 2007 - BSG Clearing Solutions, (BSG), a subsidiary of Billing
Services Group Limited (AIM:BILL), the telecom industry's clearing and
settlement provider, today announced a new multi-year agreement with the
Ukraine's Golden Telecom to deliver international roaming financial clearing
services.

Under the agreement, BSG will manage financial clearing and settlement for its
network of more than 160 international roaming partners covering 90 countries;
including determining operators' net cash positions and transacting the foreign
exchange of funds across various currencies. Golden Telecom will be taking
advantage of the comprehensive reporting tools the financial clearing service
gives them in addition to pro-active debt management which has an efficient,
cost effective reputation throughout the industry. Golden Telecom has
experienced a number of FC support issues in the past years that were proving
difficult to solve. BSG has demonstrated the ability to clear up the historical
issues with many clients while providing a higher quality of service.

Konstantin Trofimov, head of international roaming, Golden Telecom commented,
'We are pleased to establish an agreement with BSG as our financial
clearinghouse supplier and we are confident that BSG will support us in our
clearing processes. With BSG's excellent reporting tools, we will have all the
visibility we need to maintain a certain level control.'

Atul Devani, chief executive officer of BSG wireless said, 'This is another
demonstration of our ability to consistently win new business. Our high level of
quality, support and customer service, in addition to our robust product
offerings, continues to differentiate BSG as the industry leader.'


About BSG Clearing Solutions
BSG Clearing Solutions is a leading global provider of clearing and settlement,
payment services, and financial risk management solutions for communications
service providers. The company processes over 20 billion transactions annually
for 750 of the world's largest communications companies throughout North
America, Europe and Asia. With a ubiquitous, scalable platform and an extensive
portfolio of clearinghouse services for fixed-line, wireless, Wi-Fi, and
broadband networks, BSG monetizes network transactions by facilitating the
financial exchange of its customers' services. BSG meets the needs of today's
complex network interconnections and anticipates the requirements of converging
technologies, allowing for rapid and reliable deployment. BSG Clearing Solutions
is an operating subsidiary of Billing Services Group Limited, which is publicly
traded on the London Stock Exchange (AIM) under the ticker symbol BILL. For
more information, visit
www.bsgclearing.com
.

About Golden Telecom
Golden Telecom LLC (Ukraine, hereinafter 'Golden Telecom' or 'The Company') is a
division of Golden Telecom Inc. (NASDAQ: GLDN) - a leading facilities-based
provider of integrated telecommunications services for businesses and other
high-usage customers and telecommunications operators. Golden Telecom started
its operations in Ukraine in 1996. The ompany provides complex telecommunication
and Internet services in the biggest cities in Ukraine (Kyiv, Odesa, Lviv,
Dnipropetrovs'k, Zaporizhzhya and Kharkiv). Golden Telecom (Ukraine) develops
the following lines of business: local, intercity and international telephony,
data services, Internet services - dedicated internet for corporate clients and
dial-up access for wide consumer segment (Svit Online brand), GSM-1800 mobile
services (in Kyiv and Odesa). The company is focused on four business
directions: services for corporate and business customers (BCS), network and
carrier services (COS), Internet access for private customers and cellular
services.






This information is provided by RNS
The company news service from the London Stock Exchange

interesting mention in the Sunday Times yesterday with a strong buy recommendation.

I do not hold.

WDIK, PDYOR.

camlad

Hi GF.
After the Merryn article in the Sunday times, it`s chocks away this morning.
It does indeed look to have an interesting future so why miss out, I hold as from today.
If the proposed special dividend ever comes to pass at 20 22p per share, it will about pay for my initial stake.
All the best.
Pip.

Winnie says Evil K as gone long today aswell. (should have tipped it in his diary on t1ps)

looks like we could get some momentum behind this one.

Anyone got the Times article?, seen it somwhere but forgotten.