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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Transware | LSE:TRW | London | Ordinary Share | GB0030399934 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.00 | - |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | 0 | GBX |
Transware (TRW) Share Charts1 Year Transware Chart |
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1 Month Transware Chart |
Intraday Transware Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 24/9/2006 | 16:01 | Transware doing well in Bear market | 398 |
| 15/10/2005 | 13:15 | Are these ready to turn? | 69 |
| 24/9/2003 | 10:46 | Are these ready to turn? | - |
| 02/3/2003 | 14:41 | TRW at PE =1.8 to double or quaruple | 69 |
| 26/1/2002 | 12:00 | NO NEWS NO VOLUME | 6 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 22/9/2006 10:19 by luderitz Anyone remember what the price was when these were spun off of Gladstone please? |
Posted at 13/8/2004 09:55 by isis I have received the document in the post.Oyster & Trident have set up Eastchase to buy the whole company. Oyster & Trident already own & have accepted 84% and Oliver Cooke who calls himself an 'Independent Director' (LOL) has reccomended the offer @£30- per share. The Offer ends 2nd September. This was all a set-up imo. the delisting and dilution to walk away with the whole company - you can guarantee it will be sold on or re-floated (maybe Nasdaq) at several times this price. This is morally criminal, but I doubt it is technically illegal - they have worked to a ruthless plan. |
Posted at 13/8/2004 08:06 by warpedone It's in response to offer at £30 per share announced at 1pm yesterday. Not cutting and pasting here, it's too big (search announcements under "eastchase") |
Posted at 06/5/2004 11:10 by mutimer From EGMSince de-listing the board has continued discussions with potential investors and have entered into an agreement with both Trident Capital (US venture capital company) and Oyster Technology who are an existing shareholder which has invested approximately £4 million. The company had 7900 shareholders which over 5400 held fewer than 1000 shares. It was proposed that the company does a share consolidation. The share consolidation will have the effect of buying out all shareholders who hold less than 1000 shares. Trident has invested £2,382,240 and Oyster has invested £1,500,000 for which they have been issued with loan notes. Oyster has separately invested £1117,750 in return for the issue of 3,925,500 shares. The proceeds of which will be used to finance the redemption of the differed shares representing the fractional entitlements which arise from the consolidation The directors believe that the company sales strategy is being executed with increasing success by the new sales team. Resulting in a promising pipeline of new work for the first half of 2004. The independent directors have also been made aware that Trident and Oyster, or a vehicle established jointly by them may consider making a bid in the future for all the company's issued shares. The company has engaged in no formal discussions and no formal approach has been received and there is no certainty that an offer will be made It should be noted that one of the consequences of the consolidation and the conversion of loan notes would be that of reaching 90% acceptance level of the new ordinary shares to which such a bid relates may easily be achieved. The acceptance by shareholders holding 90% or more allows a bidder to compulsorily acquire the remain shares. Oyster has appointed Martin Scully to the board. Both Trident and Oyster have right to appoint two directors to the board. Raven & Cooke agreed to remain as non-executives for the time being Share holding Oyster 53.58% Trident 29.7% |
Posted at 24/1/2004 15:06 by mutimer Can anyone explain how this delist works ?They have delisted, there has only been 2 trades that i have seen since this happened. one for around 500 shares and a second of i think 124k ish. How does the actual value of the company now get reflected in the share price. It can't just be supply and demand as there is no demand a present. So if TRW turns things around, picks up contracts or maybe tells the truth that things ant as bad a we think how will the share price change.. How what and when does the share price reflect the value Sorry if stupid question but i have not dealt in delist stock Still holding and awaiting that day some good happens....good be good recover stock and they are still looking to take more people on Darren |
Posted at 08/1/2004 08:59 by mutimer Yep still can be traded but only with JP Jenkins. I have attached link belowJust not sure how this share price works now. Hardly anyone is going to trade these shares even if they turn things around. So if little trading how will share price reflect true value if things improve. Does anyone have experience of share which are on Ofex / delisted ??? Still holding and hoping recent price drop was only to do with delisting and mm;s not wanting to get caught with shares, |
Posted at 05/1/2004 19:14 by mutimer Well i have topped up over past two weeks, doubled my holding to 320kJust by some magic and luck they are not as bad as they seem to be doing on share price i may actual come out of this okay I just can't see how only recently the share price was a lot higher and it has just droped on the delist part. This just maybe a great recover play. Maybe i am wrong but i just feel things are not just ending now. To many people have invested recently at higher prices. This just may delist and the price recovers so what over time. If USA get involved anything could happen Any one else seeing this a possible recover play ? Good luck all who are still holding.... not sure where we can find info or even chat about them in the future... any ideas :-) |
Posted at 05/12/2003 07:30 by simonevans Well this one is going private - I guess this has been a possibility for a while - all the upside kept for directors and major shareholders I guess: same old story! I sold out a while back on the first profit warning. Share price movement is not going to be pretty today. |
Posted at 31/10/2003 11:16 by mutimer Isis, the 15K was mine, i am starting to think this just may have something left in it.With all the jobs they are looking fill and the amount of money Oyster has invested and with the recover in the US it just maybe able to turn the corner I am now wayyy to heavy on these, currently holding 185k shares, may keep adding at these low prices. But i still feel it is a very big gamble. But just look at what price you could have been buying GLD at a few months back and now look at what is happening bigger investers are starting to invest at it on a daily basis and the price has recover and is just waiting to jump again IMHO I would just kick my self if these did brake out of current trading range and i did not take my chance to grab them cheap Well lets hope one day these pick up like many other shares i hold All the best Darren |
Posted at 07/10/2002 07:50 by welshanalyst RNS Number:1143CTransware PLC 07 October 2002 Immediate Release 7 October 2002 TRANSWARE PLC Preliminary Results Announcement : for the year ended 30 June 2002 "MAINTAINING A CONSISTENT GROWTH RECORD" KEY HIGHLIGHTS: Financial * Revenues up 22.9% to #12.81m (2001 : #10.42m) * EBITDA up 60.9% to #3.74m (2001 : #2.32m) * Pre-tax profit (before exceptionals) up 6.7% to #2.10m - after head office costs (2001: #1.97m - no head office costs) * Earnings per share (before exceptionals) up 4.5% to 5.40p (2001 : 5.17p) * #1.8m one-off exceptional charge * Funding of #1.16m o #500k short term funding provided by directors o #407k to be provided by Enterprise Ireland o #253k additional funding from directors * Moving to AIM Operational * Beginning to emerge from tough trading period * Continuing to move beyond IT training: pharmaceuticals, retail, law * #1.5m operating costs removed * Begun strategic initiative to market directly to large multi-national corporations: projects for EDS, FT Knowledge, JP Morgan, JC Penny, Dell, Avon Cosmetics * Key accounts increased from 6 to 15 (customers potentially spending over $1 million per annum) Commenting on prospects, Brian Raven, Chairman, said: "Transware has become a leaner and more efficient Group. We have always considered Transware to be an exciting business with enormous potential and are demonstrating our willingness to back our judgement with additional personal investment. Independent research continues to point to strong growth in the Group's target markets. Mindful of on-going market volatility, we believe that future prospects are good and look forward with renewed confidence." For further information, please contact: Brian Raven, Chairman Kieran McBrien, Chief Executive Oliver Cooke, Finance Director Today on Tel No: 020 7466 5000 Transware Plc Thereafter on Tel No: 01784 228500 or visit Transware's website at www.transwareplc.com Lisa Baderoon : lisab@buchanan.uk.co Buchanan Communications M: 07721 413 496 / Tel No: 020 7466 5000 CHAIRMAN'S STATEMENT The year to 30 June 2002 was particularly challenging for Transware. However I am pleased to report the Directors' confidence that the Group is now beginning to emerge from what has been a tough trading period. As the Group conducts most of its business in the USA, the economic slowdown there had a direct impact on trading and led to lower than expected levels of localisation work being completed during the year. Coming at the same time as a significant investment in the new product initiative, this has put a strain on the Group's working capital position. However positive action has now been taken to ensure adequate funding is in place going forward. Financial Review Despite these difficulties the Group has maintained its consistent growth record. Revenue for the year rose by 22.9% to #12.81 million (2001: #10.42 million) with EBITDA up 60.9% to #3.74 million (2001: #2.32 million). Pre-tax profit before exceptional items (explained below) increased by 6.7% to #2.10 million. This level of profitability was after incurring UK sales and head office costs for the first time since Transware became an independent public company (2001: #1.97 million with no UK sales or head office costs). On the same basis, earnings per share before exceptional items rose by 4.5% to 5.40p (2001: 5.17p). In November 2001, the Company raised some #0.63 million net of expenses by placing 1,473,000 shares with institutions at 44p per share. The Group's net assets at 30 June 2002 were #4.12 million (equivalent to 11.53p per share). In line with previous years, the Directors are not recommending payment of a dividend. The difficult market and trading conditions the Group and its customers have experienced have prompted the Directors to take a close look at every aspect of the business and to reduce operating expenses wherever possible. They are pleased to report that the resultant cost control programme has already realised savings of some #1.5 million per annum. As part of this programme, the executive Directors waived a fifth of their income entitlement for the year to 30 June 2002 and have agreed to defer at least a quarter of their entitlement for 2002/ 03 until at least the latter part of the year. The non-executive Directors have likewise agreed to defer a proportion of their fees. Certain contracts and trading arrangements have also been re-evaluated and in some cases, renegotiated. In particular, the royalty arrangements entered into with SmartForce in the early part of the financial year have been terminated by mutual agreement. Transware has achieved a small profit from the transaction and been released from the obligation to make any further payments to acquire future royalties. SmartForce has been released from the formality of certain obligations regarding future levels of expenditure but Transware's status as SmartForce's preferred supplier for all its localisation needs has been reconfirmed. As a consequence of the termination of the royalty arrangements, the Group has written off the amount previously capitalised as an intangible asset and written back the associated creditor. This has resulted in a one-off exceptional charge to the profit and loss account of some #1.8 million. Audit arrangements have been rationalised, with BDO Stoy Hayward being appointed as the Company's auditors, a move prompted by the operating company's incumbent auditors who are based in Dublin, recently joining BDO's international partnership. In May we wrote to shareholders explaining the tax implications for the Company of the option arrangements with Oliver Cooke and myself. I am pleased to report that agreement has been reached with the Remuneration Committee, who have consulted with the Company's advisers, on a basis whereby Oliver Cooke and I will take on the responsibility for settling the employee's tax liabilities arising on any option exercise. The required changes to the option agreements will be put to shareholders for approval at a forthcoming general meeting. Business Development Despite last year's difficult trading conditions the Directors are confident that Transware is well placed in terms of its future prospects. The Group has continued to build up its business with many of the key players in the e-learning industry. Organisations for which projects have been undertaken in the past year include Microsoft, Oracle, DigitalThink, KnowledgeNet, SmartForce, Skillsoft, McGraw-Hill, Mindleaders, NCR, Xilinx, Symantec, Thomson Publishing, Peregrine Software, Interwoven and Lotus. As indicated in the interim report in February, Transware continues to move beyond traditional IT training applications which have historically accounted for most web based training. Recent projects cover areas as diverse as pharmaceuticals, the retail sector, ergonomics, law, hospitality and the automotive industry. Of particular note, the Group has increased its number of key accounts during the period from 6 to 15. A key account is defined as a customer from which the Group believes it has the potential to achieve over $1 million in annual sales. During the past year the Group also began a strategic initiative to market directly to large multi-national corporations as well as continuing indirect marketing via its specialist e-learning customerbase. There are two key reasons for this initiative. Firstly, to establish direct contact with the corporate decision-makers whose budgets already drive the majority of the Group's revenue and secondly, to gain greater access to the enormous market for multi-lingual corporate training and information distribution. The initiative is beginning to bear fruit and projects are now underway for EDS, FT Knowledge, Beazer Homes, JP Morgan, Dell Computers, J C Penny, Lowes and Avon Cosmetics in the USA, for Rexel Group in France and for Telefonica in Spain. The establishment of these new relationships is very encouraging, as Transware has consistently demonstrated success in retaining customers and increasing the level of business transacted with them. This advance into the corporate market for multi-lingual content development will be underpinned by the Group's new knowledge mobilisation product called " erudigm". This innovative internal development is designed to enable large multi-nationals to capture the knowledge and expertise within their organisations, use it to create multi-lingual training routines and control distribution of these routines throughout the world via the internet. The phased release of erudigm began on schedule in July and the early feedback from sales and marketing activity endorses the Directors' optimism for the product. Working Capital and Fundraising In recent months the Group's working capital position has come under pressure and the Directors have been exploring all viable alternatives for obtaining the additional facilities the Group requires. To date the Group has been unable to relieve this pressure by arranging additional facilities from its bankers although discussions are ongoing. What this process has highlighted is that the costs and restrictions associated with operating as a fully listed company are inappropriate for a business of Transware's size. Consequently, it has been decided to move to the Alternative Investment Market as soon as practicable where the Company will benefit from the lower costs and greater flexibility of the lighter regulatory regime. In order to ensure that the Group had sufficient funds for its interim needs, the Directors provided short-term unsecured loans of #500,000 in August 2002. Since then the Directors have succeeded in obtaining additional financial support for the Group from Enterprise Ireland. Enterprise Ireland is an organisation which is funded by the Irish government with the remit to encourage and support developing businesses in that country. In the past it has assisted the Group through the provision of employment related grants. Enterprise Ireland has agreed to subscribe for some #407,000 (Euros 635,000) of convertible preference shares in the Group's operating subsidiary, Transware Limited. These preference shares have a limited right of conversion into ordinary shares in Transware plc. However, the investment by Enterprise Ireland is dependent on a significant level of additional support from the Directors. Firstly, the short term support that was provided by the Directors in August is to be made permanent through the conversion of their loans into ordinary shares. Secondly the Directors are being required to provide additional unsecured convertible loans of #253,000 (Euros 400,000). The Directors believe that the combination of their support and that from Enterprise Ireland will mean that the Group is adequately funded going forward. Consequently, once the move to AIM has been completed, they will seek shareholder approval to enable them to cater for the conversion of Enterprise Ireland's preference shares and the Directors' loans. This approval will be sought at an EGM to be held in November 2002. Full details of the proposals will be provided in a letter to shareholders. The Directors would have preferred to give all shareholders the opportunity to subscribe for additional shares. However, the costs which they have been quoted for such an exercise, even on AIM, make it prohibitively expensive. Summary and Prospects In summary, the Directors believe that Transware has become a leaner and more efficient Group. They have always considered Transware to be an exciting business with enormous potential and are demonstrating their willingness to back their judgement with additional personal investment. Independent research continues to point to strong growth in the Group's target markets. Mindful of on-going market volatility, the Directors believe that future prospects are good and look forward with renewed confidence. Brian Raven Chairman 7 October 2002 UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2002 Note Unaudited Audited 2002 2001 # # Turnover 12,806,946 10,417,322 Cost of sales (2,573,962) (2,206,087) Gross profit 10,232,984 8,211,235 Administrative expenses (8,014,960) (6,214,515) Administrative expenses - exceptional items 2 (1,782,184) - 9,797,144 6,214,515 Operating profit 435,840 1,996,720 Earnings Before Interest, Taxation, Depreciation and Amortisation Operating profit before exceptional items 2,218,024 1,996,720 Add back: Depreciation of tangible fixed assets 589,857 317,129 Amortisation of intangibles 927,793 8,003 EBITDA 3,735,674 2,321,852 Exceptional costs of reorganisation and merger - (420,000) Profit on ordinary activities before interest 435,840 1,576,720 Interest receivable 109,181 7,456 Interest payable (225,447) (33,988) Profit on ordinary activities before taxation 319,574 1,550,188 Being Profit on ordinary activities 2,101,758 1,970,188 Less exceptional items (1,782,184) (420,000) 319,574 1,550,188 Taxation 3 (204,848) (201,536) Profit on ordinary activities after taxation 114,726 1,348,652 Earnings per ordinary share 4 - Basic 0.33p 3.94p - Diluted 0.33p 3.59p - Before exceptional items 5.40p 5.17p All amounts relate to continuing activities UNAUDITED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 30 JUNE 2002 Unaudited Audited 2002 2001 # # Profit for the financial year 114,726 1,348,652 Exchange differences on translation of net assets and results of subsidiary undertakings 333,050 (169,772) Total recognised gains and losses relating to the year 447,776 1,178,880 UNAUDITED CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2002 Unaudited Audited 2002 2001 # # # # Fixed assets Intangible assets 5,711,770 2,184,703 Tangible assets 1,903,925 1,462,181 7,615,695 3,646,884 Current assets Work in progress 32,547 186,636 Debtors - due within one year 2,327,885 2,516,191 - due after more than one year 385,431 - 2,713,316 2,516,191 Cash at bank and in hand 1,818,975 3,433,147 4,564,838 6,135,974 Creditors: amounts falling due within one year (4,292,546) (3,984,065) Net current assets 272,292 2,151,909 Total assets less current liabilities 7,887,987 5,798,793 Creditors: amounts falling due after more than one year (2,247,163) (3,235,645) Provisions for liabilities and charges (98,778) (104,100) Deferred income (1,419,900) - Net assets 4,122,146 2,459,048 Capital and reserves Called up share capital 3,573,717 3,426,417 Share Premium account 483,773 - Merger reserve (3,272,882) (3,272,882) Profit and loss account 2,753,289 2,305,513 Equity shareholders' funds 3,537,897 2,459,048 Minority Interests - Non-equity 584,249 - 4,122,146 2,459,048 UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2002 Unaudited Audited 2002 2001 # # # # Net cash inflow from operating activities 2,489,747 2,620,318 Returns on investments and servicing of finance Interest received 109,181 7,977 Interest paid (119,813) (13,989) Interest element of finance leases (105,634) - Net cash outflow from returns on investments and servicing of finance (116,266) (6,012) Taxation Overseas tax paid (39,398) (124,491) Capital expenditure Purchase of tangible fixed assets (653,314) (538,682) Receipts from sales of fixed assets - 24,226 Purchase of intangible fixed assets (4,113,305) (234,373) Net cash outflow for capital expenditure (4,766,619) (748,829) Net cash (outflow)/inflow before management of liquid resources and financing (2,432,536) 1,740,986 Management of liquid resources Term deposit 871,213 (871,213) Financing Proceeds from issue of shares 631,073 1,000,000 Proceeds from issue of pref shares to minority interest 584,247 - Hire purchase capital repayments (305,526) (236,879) Repayment of loans (91,430) - Net cash inflow from financing 818,364 763,121 (Decrease)/Increase in cash (742,959) 1,632,894 NOTES TO THE PRELIMINARY ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE 2002 1. Funding proposals This financial information has been prepared on a going concern basis. Were the proposals referred to in note 5 not to receive the necessary shareholder approval at the EGM to be held in November 2002, the impact would be to significantly reduce the Group's available cash balances. As a consequence the Group's ability to operate as a going concern might be jeopardised. However, the Directors anticipate that the proposals will obtain the necessary shareholder approvals and be completed. Accordingly the Directors have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the foreseeable future and for this reason the going concern basis has been adopted in preparing these financial statements. The Directors have taken the twelve month period from the date on which these statements are approved as being the foreseeable future for this purpose. The financial statements do not include any adjustments that would result should the proposed refinancing not take place. 2. Exceptional items As a consequence of the difficult market and trading conditions encountered during the last year, certain of the Group's contracts and trading arrangements have been re-evaluated by the Directors and in some cases, renegotiated. In particular, the royalty arrangements entered into with SmartForce Ireland Limited ("SmartForce") in the early part of the financial year were terminated by mutual agreement on a basis which ensured that Transware Limited achieved a small profit from the transaction, and was released from the obligation to make any further payments in order to acquire future royalties. SmartForce has been released from the formality of certain obligations regarding future levels of expenditure but Transware Limited's status as SmartForce's preferred supplier for all its localisation needs has been reconfirmed. As a consequence of the termination of the royalty arrangements, the Group has written off #9,119,888 previously capitalised as an intangible asset and written back #7,337,704 being the associated liability due in respect of this asset. This has resulted in a one-off exceptional charge to the profit and loss account of #1,782,184. 3. Taxation Unaudited Audited 2002 2001 # # Current tax Overseas Corporation tax 106,070 201,536 Deferred tax Origination and reversal of timing differences 98,778 - 204,848 201,536 4. Earnings per ordinary share The basic earnings per ordinary share has been calculated using the profit on ordinary activities after taxation for the year and the weighted average number of ordinary shares in issue during the year as follows: Unaudited Audited 2002 2001 # # Profit for the year after taxation 114,726 1,348,652 Number Number Weighted average of ordinary shares 35,119,721 34,264,172 Basic earnings per ordinary share 0.33p 3.94p The diluted earnings per ordinary share, as defined by FRS 14, has been calculated as shown below: 2002 2001 # # Profit on ordinary activities after taxation 114,726 1,348,652 Number Number Weighted average number of ordinary shares in issue as above 35,119,721 34,264,172 Dilution for share options exercisable at a price below the average market value of the Company's shares 325,651 3,318,076 Diluted weighted average number of ordinary shares in issue 35,445,372 37,582,248 Diluted earnings per ordinary share 0.33p 3.59p The earnings per ordinary share before the exceptional charge has also been presented since, in the opinion of the directors, this provides shareholders with a more appropriate measure of the earnings derived from the Group's present activities. It can be reconciled to the basic earnings per ordinary share as follows: 2002 2001 pence pence Basic earnings per ordinary share 0.33p 3.94p Exceptional charge 5.07p 1.23p Earnings per ordinary share before exceptional charge 5.40p 5.17p 5. Going Concern In order to ensure that the Group had sufficient funds for its interim needs, the Directors provided short-term unsecured loans of #500,000 in August 2002. Since then the Directors have succeeded in obtaining additional financial support for the Group from Enterprise Ireland. Enterprise Ireland is an organisation which is funded by the Irish government with the remit to encourage and support developing businesses in that country. In the past it has assisted the Group through the provision of employment related grants. Enterprise Ireland has agreed to subscribe for some #407,000 (Euros 635,000) of convertible preference shares in the Group's operating subsidiary, Transware Limited. These preference shares have a limited right of conversion into ordinary shares in Transware plc. However, the investment by Enterprise Ireland is dependent on a significant level of additional support from the Directors. Firstly, the short-term support that was provided by the Directors in August is to be made permanent through the conversion of their loans into ordinary shares. Secondly the Directors are being required to provide additional unsecured convertible loans of #253,000 (Euros 400,000). The Directors believe that the combination of their support and that from Enterprise Ireland will mean that the Group is adequately funded going forward. The approval of shareholders is to be sought at an extraordinary general meeting of the Company to be held in November 2002. Full details of the proposals will be provided in a letter to shareholders. 6. The results and summary balance sheet incorporate the unaudited results of Transware plc and all its subsidiaries up to 30 June 2002 and have been prepared on a basis consistent with the audited fi |
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