Teleunit Share Discussion Threads

[buggy] 12/12/2012 09:49

miamisteve,

I am with you on that. My confusion is with regards to the relation between OKCOM and Teleunit.

Havinf read your previous comment again as related by your brother ..."teleunit shares is still valid and active..." I feel a bit better.

Now which company accounts are we looking for:

TELEUNIT?
OKCOM?

or both?

Sorry for depending on your better knowledge, but you seem to have more knowledge of things in Italy than I can dream of.

Do you have any web link for the Italian equivalent of Companies house?


Will appreciate if you can provide that if you already have a link, If not I will google to see if I can come across it.

I would not mind paying to download the accounts , ( if we need both). However as it will be in Italian, I would however need to get these to you as you are the one with linguistic skills.

[miamisteve] 12/12/2012 05:41

Buggy. Am in a similar boat, but we have to be careful not to look to desperate at the moment.

I suggest we first get hold of the accounts, let the company know that we are not going to go away and then pitch a price to them that we are willing to accept.

[buggy] 10/12/2012 11:19

miamisteve,

I can only think of one question and that is because I just want out and reccover my money from this disastrous investment.

1.We still have shares in this company: How do we realise our investment.
2. What price are they offering per share to buy our our holding?


I suppose we need to know how much they are offering to buy our holdings before we make the next call.

To be honest with you if I can get back my initial investment I will be more than satisfied as I am not really sure what other options we have available bar taking them to the courts?

Can even envisage a worst case scenario where OKCOM denies any responsibility and asks us to go and chase the formaer directors of TELEUNIT.


until we know what they are willing to offer to purchase our holding we can't really

[ruedolf] 05/12/2012 19:05

Thats great work Miami/Buggy. I know of one other shareholder and they might be others that were on this blog in the past i try and send them a message.i'll have a look at the Italian companies house miami do you know the website. I'll try and think of a few questions in the next few days.

[buggy] 05/12/2012 18:00

miamisteve,

Terrific, much appreciated, that was excelent and fast work. That is far further in a day than I could have managed in a year.

Will start thinking on questions that we may ask.

[I suppose it really will boil down to How do we realise our shares. Who do we contact to have the shares realised? Will not mind paying for the set of accounts if we think that we need it.]

[miamisteve] 05/12/2012 17:47

I have my first feedback.

I got my brother (better italian and a lawyer) to call 'okcom spa'

They answered the phone as 'teleunit'. After explaining he was calling on behalf of shareholders from London he was transferred and was told that the teleunit shares are still valid and active. he asked about the 'takeover' and was told that okcom just rent ip from teleunit (something like that), so no takeover as such. He asked us to contact him by email with exactly what we needed to know and my brother is going to also call back when he gets to Italy in around a weeks time.

One thing I noticed when looking on the website is that the old teleunit shareholders are no longer part of the management. Did they jump ship with all the neomobile cash?

There is a company's house equivalent in italy (2 euros for a set of accounts)

Looks like it is only the three of us for our action group, but have a think of what sort of email we should now send to the company. Get the important questions down in English and I will get them translated.

I think for now we should not be too confrontational and try to get as much information from them as possible.

[buggy] 05/12/2012 14:50

One google translation in their news page seems to suggest that it was a merger between the two companies.


.....
From today Teleunit and 'OKCOM
From February 1, 2011 Teleunit merged with OKCOM SpA, telecommunications company operating for over 10 years. From February 1, 2011 Teleunit merged with OKCOM SpA, telecommunications company operating for over 10 years.
Activities OKCOM cover telecommunications services relating to fixed telephony, private corporate networks, broadband connectivity, hosting and housing. Activities OKCOM cover telecommunications services Relating to fixed telephony, private corporate networks, broadband connectivity, hosting and housing..............."


My personal choice in either case will be for them to buy out our shares. I do not believe OKCOM is isted in the stock exchang. Further I am not sure I want shares in an Italian private company as that will again leave us in this same position: How do we realise our shares if there is no market to sell them?

[buggy] 05/12/2012 14:36

Ruedolf,

Have been doing more research and I am not sure if teleunit was acquired by OKCOM or if they merged with OKCOM.

Looks like we are all agreed to your itemised plan.

So I suppose the first step is to see if tehre are others that still have these shares or if we are the only ones left.


I have been passing the OKCOM web page through google translate to see if I can learn anything regarding if Teleunit was acquired or merged. Google is not doing a good job, so I suppose this is where maimasteve's grasp of Italina may be useful.

Depending on if the Teleunit was acquired or merged , I would imagine that this will have a bearing on our position and what we would propose to OKCOM as an acceptable solution.

[ruedolf] 05/12/2012 13:42

miami congradulations you are now chairman of the Teleunit shareholders action group.do you know what the companies house i Italy is called we might be able to get the last set of accounts of teleunit

[miamisteve] 05/12/2012 10:28

Am waiting to hear back from my bank on the status of the shares through the nominee, but confirmed my holding is 200,000.

Agree we should form an unofficial group. Anyone else out there, even small holders? From my experience a large group of people is at times more powerful than a large number of shares.

[buggy] 04/12/2012 19:34

Ruedolf,

I am open to any idea, but as Maimisteve is the only one that speaks Italian, I await ti hear his idea. I imagine that any communication will be in Italian.

It may well be to have a word with the company to gauge their views, then plan our actions acordingly based on the kind of response we get.

Lets see what Maimisteve have in mind.

[ruedolf] 04/12/2012 19:11

Buggy

Form a shareholders action group where a group of shareholders act as one the steps to be taken are;

(1) advertise through the blogs that we are setting a shareholders group up give say to the end of december

(2) form the group establishing whos in the group and the number of shares they hold

(3) gather the facts as to what happened with teleunit merger, acquisition or what

(4) find out do we get shares in new company

(5) what value are those shares

(6) approach the company to buy out our shares at a given price

so let me know if your interested

[buggy] 04/12/2012 18:55

Miamisteve,

Unfortunately only premium members are allowed to send messages.

My mobile is however xxxxxxxx. Will be able to talk anytime as I will be working from home all of this week.

Let me know when you have got the number so that I will delete from the BB.

Ruedolf,

I am open to any ideas as it is a bit riach for them to expect investors just to write their investment off.

[ruedolf] 04/12/2012 18:43

I own a few shares 350,000 in Teleunit and i sent email to company asking for clarification on the merger but I have received no reply yet. Might be a good idea to form a group just like equator shareholders to put pressure on the company.

[miamisteve] 04/12/2012 18:20

Think I have 200,000. Scandalous how the delisting was handled. Might be an idea if we speak before hand. Send me a personal message with ur number and a good time to call if you want.

Remember calling the broker up once and they offered me 1p a share. i asked for some financials on the company so I could assess it's value and they just said do you want us to sell them for 1p or not.

[buggy] 04/12/2012 17:31

Hi miamisteve,

You may just be the savior I have been looking for. I noted that the company has been bought or merged with OKCOM.

Phoned Teleunit's previous broker/normad and was told that they are no longer involved and that I should contact teh company directly.

Unfortunately I do not speak any Italian and has been wondering how I might do that.

I would be most obliged if you could pass on any information you may get from OKCOM on how we may realise these shares.

[miamisteve] 04/12/2012 16:36

I just searched for teleunit and it diverts to okcom which claims to have bought teleunit is february 2011?

I speak italian so will follow this up.

Anyone have any other information please let me know.

[buggy] 26/8/2010 12:22

If you find out let me know.


Have a significant chunk of these. Been delisted and they have sold NEOMOBILE a while ago for a significant amount.

Not sure about their intentions, would have preffered a distribution of excess cash in the form of special dividend.

[miamisteve] 26/8/2010 12:14

hello. Just chasing up on this as saw I still held some shares. Any idea whats going on?

[buggy] 02/3/2010 14:28

Anybody tried to contact the company sto se what it's intentions are with regards to teh sales proceeds from Neomobile?

I know somewhere it mentioned something about money for acquisitions but surely we are due a dividend or something.

[buggy] 24/1/2010 19:30

No idea m8. I was hoping that they would distribute some special dividend from the proceeds of the sale of Neomobile.

[gavapentin] 24/1/2010 15:54

Anyone know what the ----- is going on with this share?

[ruedolf] 21/9/2009 17:09

Thanks for the info Buggy.

Hopefully we will get a payout and maybe they should wound the company up and payout to shareholders especially since neomobile is sold off there mustn't be much business left in the company.

[buggy] 21/9/2009 16:45

Ruedolf,

Accounts well overdue. It's accounts was due just before it delisted. Not sure under Italian law if the clock was restarted from the delisting date with respect to account due date.

My hope is that there is a payout soon. They initially sold about 15% of Neomobile for Euro 10Mill, then they must have got a fair bit for the remainder of their holding, 65% .....(I am hoping).

Maybe we will get a letter or something within the next month or so. At laest I am hoping that it pays out and they wind up the rest of the company. Without Neomobile they really do not have much else worth hanging about for.

News Below on Neomobile site:
...............
"
BlueGem and MPS Venture are the new controlling shareholders of Neomobile
Neomobile welcomes BlueGem as new key shareholder and announces an ambitious Mobile Marketing initiative
Roma - September 17th, 2009. Neomobile SpA ("Neomobile"), the leading Italian mobile entertainment group, BlueGem L.P. ("BlueGem"), the UK-based private equity fund and MPS Venture 2, the Italian closed-end Fund managed
by MPS Venture SGR SpA, announced today the closing of a transaction that makes BlueGem a key shareholder of Neomobile.
BlueGem has a capital commitment of €205 million and was formed by ex-Merrill Lynch professionals to make private equity investments in mid-market companies mainly in the UK and in Italy.
MPS Venture SGR is a management company under the control of the Montepaschi Group, which manages 6 private equity fund with a capital commitment of € 400 million since inception.
Neomobile has become one of the global leaders in the mobile entertainment industry. Operating in a market worth
€50bn globally in 2009 and forecasted to grow up to €65bn by 2011, the Company has offices in 15 countries throughout
the Mediterranean region, Asia and Latin America and is among the most recognized and competitive players in the
fastest growing segment of the market known as D2C (direct to consumers).
BlueGem selected Neomobile for its track record as a fast growing company (with compound revenue growth of >50% in
the last three years), having become in just a few years the n°1 D2C player in Italy and among the top players in Spain,
Turkey and Brazil. Recently the company acquired the Spanish group Arena Mobile to expand its geographic and business footprint. Neomobile is a valued partner of leading mobile operators around the world such as Vodafone,
Telefonica, Telecom Italia, America Movil ,Turkcell among others, and in 2008 was able to generate over €80m gross revenue in partnership with operators.
MPS Venture 2, the Italian fund which became a shareholder in 2008, decided to increase significantly its investment in Neomobile and thus confirming its commitment and role as a key shareholder and its confidence in the management
team, with the purpose of supporting the further development of the company.
The new shareholders base will strongly support Neomobile in the launch of an ambitious growth plan in the emerging Mobile Marketing industry. Mobile represents the highest growth segment in advertising, still small today but expected to reach a market size of $20bn by 2011. Neomobile already has years of experience and expertise in this market and will be launching a dedicated new brand and business unit.
BlueGem and MPS Venture 2 have replaced Teleunit SpA, the previous controlling shareholder which supported Neomobile's start-up and its first successful years.
The management team are also significant shareholders, thanks to a Stock Option plan aimed to further reward the loyalty and the commitment towards the Company of all key managers.
Commenting on the transaction, Gianluca D'Agostino, Neomobile CEO, said: "I strongly believe that our market requires vision and speed in execution. I'm very proud that over the past 12 months we have achieved major goals in our
business while also completing two key deals with leading private equity funds who have demonstrated that they share our vision and strategy. I am very pleased to welcome BlueGem to our Board, and I am sure that with them and their
network of contacts we will boost our growth and improve the way we lead the company to an exciting future"
Marco Capello, BlueGem Founder and Managing Partner added: "BlueGem has great confidence in the mobile entertainment industry's growth potential. We believe that in Neomobile we are backing one of the strongest teams of professionals in the industry, the team which elevated Neomobile to leadership status in Italy, one of the largest and 2 most advanced D2C markets in the world. We are therefore very keen in supporting management's strategy of continued growth in their global presence and the launch of a pioneering mobile marketing services unit"
Marco Canale, Deputy General Manager of MPS Venture SGR declared: "MPS Venture since the previous investment in the company in 2008 has been appreciating the quality of the management team. We have increased the stake held by our major fund, MPS Venture 2, because we believe that the new shareholder base will better provide Neomobile with the support needed to develop both internationally and in new segments of the rapidly evolving market of mobile
contents".
About Neomobile
Neomobile is a global mobile entertainment company, active today in 15 markets with a compound potential reach of 1,5bn mobile
lines. Thanks to his 200 professionals with a unique expertise in mobile marketing and technology, the Company designs, develops, markets and distributes digital content and interactive services for mobile users in partnership with Mobile Network Operators around the world. Active in the market since 2004, Neomobile has been focused on direct-to-consumer (D2C) mobile content with growing success, leading the Company to become the N. 1 Player in Italy and among the top players in Spain, Turkey and Brazil.
Neomobile Group is also a leader in the B2B segment, offering content and technology solutions to Network Operators and Media, thanks to the acquisition in 2008 of the Spanish company Arena Mobile.
Neomobile is headquartered in Rome and has offices in Barcelona, Madrid, Lisbon, Paris, London, Istanbul, Casablanca, Mumbai, Dhaka, Shanghai, Tokyo, São Paulo, Mexico City and Miami. Neomobile is an active member of the Mobile Entertainment Forum (MEF) and Mobile Marketing Association (MMA) and is a finalist in the "Best D2C Company" category of the Mobile Entertainment Awards 2009.
For more information: www.neomobilegroup.com; [e-mail]
About BlueGem
BlueGem L.P. is a private equity fund with a capital commitment of € 205 m formed by ex Merrill Lynch professionals to make private equity investments in mid-market companies in UK and in Italy. BlueGem's investment philosophy is founded on the belief that in the long term, value is created through the association of disciplined investors with quality companies and through a real partnership between shareholders and management. BlueGem has created a prestigious Advisory Board that works very closely with the investment team and that includes Andrea Agnelli, Massimiliano Cagliero, Giorgio Girondi, Mario Greco, Rocco Sabelli, Enrico Vitali and Bob Wigley.
For more information: www.bluegemcp.com
About MPSVenture
Mps Venture SGR, company of the Montepaschi Group, operates since 2003 in the management of closed-end investment funds for the Italian domestic territory. At present MPS Venture, leader in Italy for the number of managed funds, manages 6 private equity funds for a total commitment of Euro 400 million.
MPS Venture SGR invests in medium size companies operating in Italy in the industrial, commercial and service industry sectors providing professional support throughout investment development projects. Up today MPS Venture has made 38 investments in Italy and 15 divestments.
For more information on MPS Venture, please visit: www.mpsventure.it"

[ruedolf] 21/9/2009 15:33

buggy

I have some shares here and i dont know whats happening with this company surely there are accounts due soon.