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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Twenty | LSE:TWE | London | Ordinary Share | GB00B0BYS847 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.25 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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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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| - | O | 0 | 0.25 | GBX |
Twenty Plc (TWE) Share Charts1 Year Twenty Plc Chart |
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1 Month Twenty Plc Chart |
Intraday Twenty Plc Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 16/11/2011 | 16:06 | TARA BUYS TWE AT 2.5p [17/02/2011] | 135 |
| 24/6/2011 | 12:41 | Twenty plc | 101 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 06/11/2011 11:49 by marab There are about 0.8% of the companies shares being held as treasury shares so they should be out of the voting. AIM regs state that -"the number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months." so theoretically the share holders listed at December 2010 should be the actual currently held except for the recent buy from Octopus Investments, although the company would appear to be in breach of the above by not updating in June. |
Posted at 31/10/2011 11:36 by marab SUMMARYThere are 57m shares in the company and directors Ian Lancaster and Grant Newton appear to own 15m of them. As they are part of the concert party wishing to buy the assets of TWE they should not be able to vote (anyone able to confirm that ?). That leaves 42m shares so TWE needs 31.5m shares to carry the vote to leave AIM and they won't be getting my vote. The directors want to sell all TWE's companies assets to Ian Lancaster and Grant Newton, both Directors of Twenty.for £1, but TWE will pay them £112,500 toward working capital. In addition TWE will waive the inter-company debt owed by TwentyCi and Moveme to the Company in the sum of GBP561,050, so basically TWE will be paying over £673,000 to TWE company directors to take the assets from the company. TWE also want to cancel their AIM listing to save £50,000 a year, basically throwing away a shell company. Losing the AIM listing will also mean that the directors will be able to do whatever they please with any funds the company has or will have. With the company NAV around £600,000 in cash at 31st December 2012 how much would TWE be worth as a cash shell. How much do you trust the current directors to do the right thing for shareholders? This is very like the situation in DXR (now WASG) before the directors there got ousted, and the share price then increased considerably. |
Posted at 31/10/2011 11:10 by marab The directors want to sell all TWE's assets to Ian Lancaster and Grant Newton, both Directors of Twenty.for £1, but TWE will pay them £112,500 toward working capital. In addition TWE will waive the inter-company debt owed by TwentyCi and Moveme to the Company in the sum of GBP561,050, so basically TWE will be paying over £673,000 to TWE company directors to take the assets from the company. But on top of that,"The sale of TwentyCi and Moveme will give rise to a de-grouping charge as there will be a deemed disposal of goodwill. To the extent that this goodwill was created or acquired before 1st April 2002 the de-grouping charge will arise on the Company by supplementing any chargeable gain on the sale of the shares in TwentyCi and Moveme. If the substantial shareholding exemption from chargeable gains is available to the Company in connection with the Disposals this exemption should also apply to any chargeable gain on the deemed disposal of the goodwill." TWE also want to cancel their AIM listing to save £50,000 a year, basically throwing away a shell company. Losing the AIM listing will also mean that the directors will be able to do whatever they please with any funds the company has or will have. "TheDisposals are a disposal resulting in a fundamental change of the Company's business for the purpose of AIM Rule 15 and are therefore conditional on the consent of more than 50 per cent. of the votes cast by Shareholders at a general meeting; and -- the Cancellation is conditional on the consent of not less than 75 per cent. of the votes cast by Shareholders at a general meeting. The approval of Shareholders to the Resolutions to implement the Proposals is therefore being sought at the General Meeting to be held at 2.00 p.m. on 14th November 2011. The Company's estimated net assets, immediately following Disposal Completion, and assuming receipt of the full amount of the Deferred DFP Consideration, will be approximately GBP700,000, before administrative costs to be incurred prior to the Company entering members' voluntary liquidation. As noted above, as at today the sum of GBP642,857 of the Deferred DFP Consideration has been paid to the Company. The balance of GBP857,143 is payable in equal quarterly instalments on 31st December 2011, 31st March 2012, 30th June 2012, 30th September 2012 and 31st December 2012. The purchaser of DFPP is entitled to set off the sum of GBP88,000 owed to it by the Company against the 31st December 2012 instalment of the Deferred DFP Consideration. So company NAV around £600,000 in cash at 31st December 2012 "Further administrative costs will be incurred by the Company prior to it entering into members' voluntary liquidation, including directors' remuneration as described below. As noted above, Grant Newton and Ian Lancaster will resign as directors and employees of the Company at Disposal Completion. Following Disposal Completion the Board will comprise Mark Patron and Robert Unsworth, the two Independent Directors. Mark Patron will be paid a director's fee of GBP20,000 per annum and Consensus Business Group (who provide the services of Robert Unsworth as a director of the Company) will be paid a director's fee of GBP20,000 per annum. In accordance with AIM Rule 41, the Cancellation is conditional on the consent of not less than 75 per cent. of the votes cast by Shareholders at a general meeting. Such consent will be sought through Resolution 2. Assuming Resolution 2 is passed and the Sale Agreement becomes unconditional in accordance with its terms, the Cancellation is expected to take effect from 7.00 a.m. on 28th November 2011. 5. General Meeting Implementation of the Proposals requires the approval of Shareholders at a general meeting to be held at 9-13 St. Andrew Street, London EC4A 3AF at 2.00 p.m. on 14th November 2011 where the following resolutions will be proposed: Enquiries: Twenty Plc Tel: 07810 640888 Mark Patron, Non-Executive Chairman www.twentyplc.com Daniel Stewart & Company plc Tel: 020 7776 6550 |
Posted at 31/10/2011 10:39 by marab Background to and reasons for the proposed DisposalsIn May 2010 the Company disposed of its customer interaction and outsourcing business through the sale of DFPP (the then holding company for Dataforce Interact Limited) for a total consideration of GBP7.69m, of which GBP6.19m was received on completion, allowing all bank and other indebtedness to be repaid in full and to provide additional working capital for the Group. The deferred consideration was originally agreed at GBP2.95m, but it was subsequently re-negotiated to GBP1.5m, payable in instalments over the period to 31st December 2012. As at today the sum of GBP642,857 of this deferred consideration has been paid to the Company, the balance of GBP857,143 is payable in quarterly instalments up to 31st December 2012." I am sure we all remember how the directors view changed so drastically earlier this year, basically giving away £1.5m. From the RNS 10th March 2011, "The Board of Twenty Plc (AIM: TWE.L), an investment vehicle focussing on the marketing services sector, announces that it has received a letter before action on behalf of HOV Global Services Holdings Limited claiming breach of warranty in relation to the sale of DF Property Portfolio Limited, the holding company of Dataforce Interact Limited, in May 2010. The Board, having taken legal advice, view the claim as opportunistic and do not consider that such claims have any reasonable prospect of success. Any such claims will therefore be vigorously defended. " Note the "Any such claims will therefore be vigorously defended" Less than a month later on the 8th April 2011, "The Board of Twenty Plc (AIM: TWE.L), an investment vehicle focussing on the marketing services sector, announces that it has today signed an Agreement with HOV Global Services Holdings Limited in settlement of a claim concerning breach of warranty in relation to the sale of DF Property Portfolio Limited, the holding company of Dataforce Interact Limited, during May 2010. The Deed of Amendment signed today, 8th April 2011, in relation to the original agreement for the sale and purchase of shares in DF Property Portfolio Limited, which was dated 30 April 2010, (the details of which were announced on 30 April 2010), amends the sale price from the original £9,140,000 to £7,690,000 of which £6,190,000 was paid upon completion in May 2010. The balance of £2,950,000 was to be paid over two payments in July 2011 and 2012. This figures is now reduced by this Deed of Amendment to £1,500,000 and the repayment schedule has been re-arranged as follows : payment of £300,000 on 11th April 2011 and deferment of £94,412 (payments for services due from Twenty plc to Dataforce Interact Limited) 7 quarterly payments of £171,428.57 on the last business day of each quarter commencing 30th June 2011 The Board, having taken legal advice, viewed the claim as opportunistic and did not consider that such claims had a reasonable prospect of success, but has decided that with the potentially high cost of an ongoing litigation and distraction of the senior executives that reaching this settlement was in the interests of shareholders." So basically we were told the potential costs of litigation were expected to be more than £1.5m, less the value placed on the distraction of the directors. I still find it difficult to believe that HOV Global Services were prepared to risk £1.5m to get a court decided reduction of a £3m debt. One does wonder what facts were not revealed that caused the directors stance to change so swiftly over a period of less than a month. |
Posted at 27/10/2011 08:32 by marab Induna123 - I am still trying to translate the RNS but the rest of the market is reacting to EEC news so it will have to wait. I would not be surprised if the directors hoover up a bit of stock now to make sure the deals go ahead, but that could just be the cynic in me. The recent drop in share price is explained though. It's almost as if some people knew what was coming :( |
Posted at 12/10/2011 12:29 by marab UKMassy - I sent an email off to the company asking if they intended to comment on the share price via RNS or otherwise offer a view. If they respond I will let people know. This is one of those times when you don't know whether to buy or not, and which ever one you do is wrong. That could just be me of course. The MC of this company is peanuts now which might make it more interesting as a future shell company. |
Posted at 05/7/2011 14:56 by marab eaaxs06, I think this company has potential. Am I happy with the share price, no. Would I be happier buying in now, yes. Will just sit and wait for developments. I do have certain mug like qualities, but have learned the hard way that when a share price plummets it is sometimes better to hold on. Followed Tara into CMG last week and made a few quid which will help alleviate the pain here. |
Posted at 23/3/2011 12:44 by tez123 My Cheapest Stock in a Long TimeMarketing services group Twenty Plc (TWE.L) is listed on the Alternative Investment Market in London. Its market capitalisation is a tiny GBP 1.7m at 3 Pence offer and the shares are somewhat illiquid, as expected, with trade amounts possible of up to GBP 3,000 (approximately $ 5,000). The company's flotation took place in 2006 at a post-split price of 2.55p and the shares shot up to 6 Pence from just under 2 Pence upon news that a division was sold. This sale has eradicated TWE's debt and currently the company has, as per last interim results, net cash of GBP 1.55m. Since April, 2010 when the shares hit 6p, the stock price has languished first due to traders taking profits followed by demoralised investors selling out. The great news is that this May, Twenty will receive GBP 1.89m from the disposal as well as another GBP 1.06m in May, 2012. Ignoring the money due in 2012 we can see that Twenty will have approximately GBP 3.44m once the money is received in May. The market capitalisation is only half of the net cash figure at GBP 1.7m. This discount is too large. There are 57.2m shares in issue, ignoring options and warrants which only start vesting after 9p, which gives a per share value on the GBP 3.44m of 6p per share. Add in the remaining GBP 1.06m and we calculate a net cash value of 7.86p per share. The great unknown, of course, is that no one knows for what purpose the company has earmarked the cash. A special dividend would not be shareholder friendly due to taxation, perhaps a return of capital would suit all parties. The fear is that the company will make a rushed acquisition and delete value to the business as opposed to adding value. Past earnings have been lumpy with deficits recorded for year ending December, 2005 and 2008. Historically no dividend has been paid. Director remuneration is broadly in-line with other microcap companies. The share register is nicely spread. The CEO owns just over 20% whilst the FD owns just under 5%. There are no other real assets apart from the usual office equipment and furniture. There is around GBP 4m goodwill on the balance sheet. Liabilities come to GBP 2.42 of which GBP 2.22m are payables. I wish that this stock could be included in the monthly value competition but no foreign stocks are allowed hence this is only a short article to generally inform those interested in these types of companies. Further research should obviously be done before investing. However there is a large valuation discrepancy here as well as a catalyst to move the share price (when the news is released in May that the money has been received). The company website is here: Disclosure: Long TWE.L |
Posted at 23/3/2011 10:32 by topinfo TIDMTWE RNS Number : 1280M Twenty PLC 18 May 2010 Twenty plc ("Twenty" or "the Company") (AIM: TWE) Completion of Disposal Result of General Meeting Further to the announcement made by the Company on 30 April 2010, the Company is pleased to announce the passing of the resolution to approve the disposal (the "Disposal") of the entire issued share capital of DF Property Portfolio Limited ("DFPP"), the holding company of Dataforce Interact Limited ("Interact"), at the General Meeting of the Company held earlier today and that the Disposal has now been completed. The initial consideration for the disposal is GBP7,239,610 ("Initial Consideration") plus deferred consideration of GBP2,953,500 to be paid over two years ("Deferred Consideration"). The Initial Consideration is subject to adjustment depending on the value of the net current assets and net cash position of DFPP and Interact (the "Interact Group") at completion of the Disposal ("Completion") and the net debt position between the Company and its remaining subsidiaries (the "Remaining Group") and the Interact Group at Completion. The Deferred Consideration is payable in two instalments over two years. The sum of GBP1,892,000 is payable on the first anniversary of Completion and the sum of GBP1,061,500 is payable on the second anniversary of Completion. Following receipt of the Initial Consideration and repayment of outstanding bank debt facilities, deal fees and working capital adjustment under the sale and purchase agreement, the Company expects to have net cash of approximately GBP3.5m. Twenty now intends to concentrate on accelerating it's strategy to become a market leader in the development and deployment of digital integrated marketing platforms. Commenting on the completion of the Disposal, Ian Lancaster, Chief Executive said: "This sale represents a refocusing of Twenty plc in the fastest growing segment of the marketing services space where we feel that we are developing a real edge in our product portfolio and that the business is well placed to take advantage of the increase in digital spend." Enquiries: Twenty plc Ian Lancaster, Chief Executive Officer Tel: 01908 829 300 Daniel Stewart & Company plc Emma Earl/Tessa Smith Tel: 020 7776 6550 Notes to Editor: |
Posted at 30/4/2010 11:33 by topinfo TIDMTWE RNS Number : 1314L Twenty PLC 30 April 2010 TWENTY PLC (AIM: TWE) ("Twenty" or "the Company") Disposal of Division Introduction The Board of Twenty, an investment vehicle focusing on the marketing services sector, announces that it has entered into a conditional agreement for the sale of the entire issued share capital of DFPP (DF Property Portfolio Limited, the holding company of Dataforce Interact Limited ("Interact")) to HOV Global Services Holdings Limited for an initial consideration of GBP7,239,610 ("Initial Consideration") plus deferred consideration of GBP2,953,500 to be paid over two years ("Deferred Consideration"). The Initial Consideration is subject to adjustment depending on the value of the net current assets and net cash position of the Interact Group at completion of the disposal ("Completion") and the net debt position between Twenty and its remaining operating subsidiaries (together, the "Remaining Group") and the Interact Group at Completion. Interact has an invoice financing line with Lloyds TSB Commercial Finance Limited which will be satisfied at Completion. The Initial Consideration to be paid at Completion will be reduced by the amount required to settle this facility. The proceeds of the disposal will be used to fully repay all bank debt of the Remaining Group following the disposal and to provide working capital and acquisition funds to accelerate Twenty's strategy of becoming a market leader in the development and deployment of digital integrated marketing platforms in the UK. Background to the Disposal Pursuant to a group reorganisation ("Group Reorganisation") in August 2009, DFPP transferred its database management and analytical services business to Dataforce Online Limited (a wholly-owned subsidiary of Twenty), its group management function to Dataforce Central Services Limited (a wholly-owned subsidiary of Twenty) and its customer interaction and outsourcing business to Interact (a wholly-owned subsidiary of DFPP). The purpose of the Group Reorganisation was to create a clear distinction between the digital marketing side of the business, which now takes place through the Remaining Group, and the customer interaction and outsourcing part of the business which now takes place through Interact. The Company has decided that it does not have sufficient resources to be able to pursue a dual strategy of developing the Interact customer interaction and outsourcing service lines, in addition to driving forward with the speed required to capitalise on the opportunity within the data and digital marketing arena operated through the Remaining Group. The Group Reorganisation took place on 26 August 2009 which means that the results of Interact and the Remaining Group are not reported separately in the interim results of Twenty for the six months ended 30 June 2009 (announced on 30 September 2009). However, the Directors estimate that the unaudited profit before tax of the business now operated by Interact for the six months ended 30 June 2009 was approximately GBP877,000 and that the business operated by the Remaining Group for the six months ended 30 June 2009 made an operating loss of approximately GBP638,000. |
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