|At 13 February 2015, the Company had cash and cash equivalents of approximately GBP28,000 and outstanding debt, excluding the fees being converted by Directors and management below, of approximately GBP370,000, but no currently active operations.
As an investing company, the Company will be required to make an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules or otherwise implement its Investing Policy on or before the date falling twelve months from 4 December 2014, being the date when the company ceased its publishing and casino operations, failing which, the Company's shares would then be suspended from trading on AIM.
In the event the Company's Ordinary Shares are so suspended, the admission to trading on AIM of the shares would be cancelled six months from the date of suspension and the Board would intend to convene a general meeting of the Company to consider whether to continue seeking investment opportunities or to wind up the Company.|
|RNS Number : 4210A
24/7 Gaming Group Holdings PLC
19 February 2014
24/7 Gaming Group Holdings Plc
(the "Company" or "24/7 Gaming")
Further issue of equity and director deals
Further to the announcement issued this morning in relation to an equity placing and conversion of certain outstanding debts into equity, 24/7 Gaming is pleased to announce that it has accepted the offer from Willy Simon, a Non-Executive Director of the Company, and David Mathewson, Executive Chairman, to convert outstanding fees owed to them into new ordinary shares of no par value ("Ordinary Shares") at 5p per Ordinary Share.
As a result, Mr Simon and Mr Mathewson will each receive 491,500 new Ordinary Shares to be issued in lieu of outstanding fees.
As a result of this issue of shares, Mr Simon will hold 1,042,340 Ordinary Shares and Mr Mathewson will hold 658,170 Ordinary Shares.
In addition, Mr Mathewson has been awarded options over 6 million Ordinary Shares exercisable at a price of 3p per Ordinary Share. These options will vest as to 2 million options after each anniversary from today over a three year period and will remain exercisable for a period of 12 months after vesting.
|Looks like a falling knife in slow motion ?|
|Anyone? I will hold on !|
|DKN - I didn't write it, the Times journalist did!
Pitbull - by all means copy and paste the article.
dead cat bounce
|DCB, any chance you can enter your missive on the site or can I borrow the one above??
Anyone else with a story to tell, drop in a few people I know have been reconnected in the last 24 hours, and when they have caught up with a weeks worth of washing etc. will add their experiences. The more the better, I have done one interview for Local radio over the weekend and will be doing another tomorrow.
Would like to see ideas of what they could have done better, so that maybe something positive can come out of this, I did a reasonable job of de-briefing some of the engineers while they were waiting for bits to arrive and that will go onto the site soon.
|M - lol - like I said above, I wanted them to call it "Diary of a Stone Age Daytrader, but they'd already had a stoneage daytrader :-)
dead cat bounce
|Take care DCB next thing you know you will be writing a regular column in the Sunday Times and we all know where that leads to :)
|Nice one dcb!
I wonder. As someone who lives in sw Wales - within 25 miles of where the fiercest of the winds were recorded apparently - I was surprised that we got reconnected within a few hours of the first cut, and subsequently only got briefly disconnected a couple of times as further repairs were done. This is hardly much different from normal in this neck of the woods.
As anyone living in S.Wales knows, everything here is strung up between poles rather than underground. When I came here I half expected gas to likewise arrive via overhead hoses. So many wires crisscross the sky that parking spaces clear of bird droppings are highly prized. Down our street we get a powercut at least every month. Sometimes a flurry of very brief ones, with long enough in between to re-enter every lost PC item just in time to lose it all again. My Welsh is not good enough to know what swear words to use.
But. Maybe this is what saved us from the horrors reported above? Maybe the areas consistently blighted by failures are more heavily peopled with a workforce that knows where to go look... rather than relying on engineers being shipped in who can't read local maps.|
|Pitbull - will do tonite
dead cat bounce
Glad to hear your back on, shame about the weekend.
At 8:00 this morning 24Seven said that an engineer had been allocated our call, at 10:00 my wife called to be told that no one has been allocated our call although an engineer did call yesterday (To top up the generator that doesn't need topping up because like the rest of 24Seven it doesn't work). Lies and misinformation again. They keep taking a contact number every time you call yet fail to use it.
Why not help and put up a brief precis of your experiences on the site above.
|I have had to cancel a birthday treat of a weekend in Paris because of the power cut. Couldn't possibly leave young teenagers without power for 4 days. So birthday treat lost without compensation from the holiday company. My word I'm gonna get even with 24seven!
PS just had call from home, the power is back on after 5 days!|
dead cat bounce
|Thought I would add my thoughts. I concur with all the posters, fortunately we were not as badly hit as some. We lost power around 9am Sunday, it was restored very late on Monday night. Since then we have had 3 power cuts on Tuesday and 2 yesterday.
Like many others we tried to get throught to 24/7 to no avail and ended up tuning into the local radio for info.
I did have the foresight to buy a generator a few years back and it certainly came into its own, it's only powerful enough to run upto 650w of power, but it's plenty for a few lights. I've just ordered a more powerful one (4000W), be prepared is my motto!
I'd like to say that it's not 24/7's fault, but they were warned about the severe weather. I would also add that we had about 5 or 6 power cuts last year, including one that lasted a whole day - so I would suggest that the infrastructure may not be as robust as it could be. The inquiry will look into investment in maintenance, if it's anything like the railway's post privatisation I guess we already know the answer to that one!|
|PB, try www.mail2web.com to check mail. I'm using it to read FS mail right now. Free & it works... unlike your electricity by the sound of things :-(|
I fully understand that it is not the Electricity supply company that is responsible for the wires 24Seven was a joint venture between LEB and TXU to handle their joint delivery responsibilities, recently LEB bought out TXU's 50% of the company.
It is not the fact that the power went down in the first place that is the major frustration it is the chaotic response from 24Seven that is the major issue.
We were told that we had to be at the house for their engineer to turn up, having given them a mobile phone number for contact, after 4 1/2 hours no engineer so we try phoning them, then you can't get through. All it would have taken is a SMS message (this sort of thing could even be automated into their call logging) to say that we were no at the bottom of the list and forget any chance of anyone getting to us in the next couple of days.
Eventually a "Safety Engineer" called and then turned up 1/2 hour later, having explained to him that the frustrating thing was the lack of information, he then drove off up the road to check there were no cables down causing a risk and to assess our problem. He didn't bother to tell us what he found.
Later that evening we were told that someone would be around with in 2 hours, so we stay up waiting for this engineer who never arrives, and apparently was never booked to arrive.
24Seven's calls were yesterday being handled by the SEEBoard call centre and although very nice people they had no links to 24Sevens system and it appears they were manually passing calls across to them.
DCB, Energy Minister Brian Wilson MP, has announced an investigation, I will be putting up a set of relvant links on the site above as I find them and the message board should be operational by lunchtime, thanks Bruv!!
Anyone who has sent a mail, Freeserve's remote mail reading program is playing up again so I can't get at the mail. Will try again later.
Blame the Regulator - all power and no responsibility - typical administrator.
Did he check the contingency plans of the power companies?
Did he check that they were in place and ready, after all he had the same notice of the storm as the power companies.
Answer, probably not.|
|Take your complaint to Ofgem. They might do something about it.|
|For the second time in a year I have suffered a complete loss of electricity.
Yet again 24Seven who are responsible for reconnecting the supply have shown their total inability to .... ( think of a sentence with organise and brewery in it).
At all levels, and I have spoken to several directors, of the company they lie to their customers.
written last night on PBB....
Following the fiasco last year, I think that this is just once too many, I am sending this via a latop that I charged at work, sitting by the fire with a torch shining on the keyboard 72 hours after they said they would have an engineer arrive to resolve the problem. In my drive I have a generator that they delivered at 18:00, ran till 19:30 started spluttering and died by 21:00, it had next to no fuel in it!!
I am trying to gather other peoples experiences of 24seven so that together we can change this complacent companies attitude to their customers. They closed their call centre completely for the last two days because too many people were calling them?!??!!
I have set up a website with a message board, however I can not work on this at the moment, except during lunch. My brother has done most of the work!!
the web site is at http://www25.brinkster.com/24never
So you took your clothes off and the power failed, Bizarre|