|jj mail me,lost you're address since I wiped hard drive clean.|
|are we over to ipoint now scotty... whats the epic?|
|IPoint ceo talking today.
We should get out at a profit,which is nice,even if it is later than expected
|iPoint Media says offer for All New Video wholly unconditional
LONDON (AFX) - IPoint-media PLC said its recommended all-share offer for All
New Video PLC has been declared wholly unconditional.
As at 1.00 pm yesterday, the company had received acceptances from ANV
shareholders representing 88.43 pct of the total share capital, and the offer
remains open for acceptance until further notice, it added.
|when do we go over to ipoint as a business... ? and shareholders.|
|ah well so not all bad news - could see good recovery over the next 6-12 months -
you still holdng scotty & chef? rcg going a storm eh? vlk did well too - just plw to come good but i'm not holding me breath. into amo and wlf at the mo - looking for recovery - and apc which is looking ok
jj, you going to start the ipoint thread?
|Thank you for taking the time JJ
|tied in with Ipoint now share price wise, IPoints been storming ahead recently ANV will go up in ratio to share conversion most likely.....
|Any one know why the rise -some advise would be appreciated
|At 15p finish = 1.9 for ANV using, 8 ipoint to 63 ANV
|Looks like share price keeping up with i point
|has the offer been accepted - when will it be suspended? seems to be rising fast!|
|what's happening here - anyone know?|
|Offer for All New Video plc
For immediate release
Part 1 of 2
Not for release, publication or distribution in or into or from the United
Australia or Japan
20 December 2006
("iPoint" or the "Company")
Recommended all share offer for All New Video Plc ("ANV") to be made by
John East & Partners on behalf of iPoint
* The boards of ANV and iPoint are pleased to announce the terms of a
recommended all share offer for the whole of the issued and to be issued
share capital of ANV.
* iPoint has developed a suite of proprietary software products which enable
video calling over IP using 3G networks. iPoint's products allow two-way
interactive video communications using a mobile telephone. iPoint's
proprietary platform has enabled it to develop video calling applications
which can be provided by 3G operators to 3G mobile phone users.
* iPoint and ANV operate within the same segment of the 3G services market
and have been working together on a number of projects for mutual clients.
A combined entity could accelerate the growth rate of the combined
businesses and improve their respective operating mass. Both the iPoint
Directors and the ANV Directors believe that there is a synergy between
iPoint's and ANV's offering, and that the Enlarged Group will provide a
better value proposition to customers than separate offerings by each
* The Offer will be 8 iPoint Shares for every 63 ANV Shares. On this basis,
the Offer values each ANV share at approximately 0.9p and the entire
existing issued and to be issued ordinary share capital of ANV at
approximately £0.8 million, based on the Closing Price of 7.25p per iPoint
Share on 19 December 2006, the last dealing day prior to the date of this
announcement. There will be no cash alternative.
* The Offer represents a discount of approximately 10 per cent. to the
Closing Price of 1p per ANV Share on 19 December 2006, the last dealing day
prior to the date of this announcement.
* The ANV Directors, who have been so advised by Teather & Greenwood,
consider the terms of the Offer to be fair and reasonable. In providing
advice to the ANV Directors, Teather & Greenwood has taken account of the
ANV Directors' commercial assessments.
* Accordingly, the ANV Directors will be unanimously recommending that ANV
Shareholders accept the Offer as they have irrevocably undertaken to do so
in respect of their own aggregate beneficial interest in ANV (comprising,
in aggregate, 39,889,513 ANV Shares and representing approximately 46.16
per cent. of the existing issued ordinary share capital of ANV). Such
undertakings will cease to be binding only if the Offer lapses or is
withdrawn or, in the case of the undertakings given by The Huntley Security
Pension Fund (which represents David Barton's interest in ANV Shares) and
Sovereign Group LLP (which represents Hugh de Lusignan's interest in ANV
Shares), in the event of an announcement of a higher competing offer,
provided that such competing offer is 20 per cent. higher in value per ANV
Share than the Offer.
* In addition, iPoint has also received irrevocable undertakings to accept
the Offer from certain other ANV Shareholders (details of which are set out
in Part 2 of this announcement) in respect of their entire holdings of, in
aggregate, 17,167,630 ANV Shares, representing approximately 19.87 per
cent. of ANV's existing issued ordinary share capital. Such undertakings
will cease to be binding if the Offer lapses or is withdrawn or, in the
case of the undertakings given by The Simon Hunt Pension Trust, in the
event of an announcement of a higher competing offer, provided that such
competing offer is 20 per cent. higher in value per ANV Share than the
* In aggregate, iPoint has received irrevocable undertakings to accept the
Offer in respect of 57,057,143 ANV Shares, representing approximately 66
per cent. of ANV's existing issued ordinary share capital.
* The formal documentation relating to the Offer is expected to be despatched
to ANV Shareholders (other than certain Overseas Shareholders) as soon as
practicable and, in any event, within 28 days of this announcement, except
otherwise with the consent of the Panel.
* Commenting on the Offer, Muki Geller, Chief Executive of iPoint said:
"This is an attractive opportunity for ANV and fits within its stated strategy
of combining its business with another player engaged in the sector, with the
intention of significantly accelerating its growth rate and improving its
operating mass. The Enlarged Group would combine iPoint's successful platform
with ANV's hosting capability while generating economies of scale for both
businesses and benefits for both sets of shareholders."
* Commenting on the Offer, David Atkins, Chief Executive of ANV said:
"Given the slower than anticipated take-up of 3G and video-related services in
the telecom sector world-wide, the ANV Directors have concluded that the Offer
from iPoint, which enables ANV Shareholders to have a continuing equity
interest in the Enlarged Group, while safeguarding the employment rights of the
Company's experienced workforce, is the best option to promote the future
success of the Company."
This summary should be read in conjunction with the full text of the following
announcement. Appendix II contains the sources and bases for certain
information set out in this announcement. Appendix III to this announcement
contains definitions of certain expressions used in this summary and in this
|Is this a no hoper or should I hang on in there on the basis where theres life theres hope!!!!!!!!!|
|hey ho - more good news on the way? :(|
|lol, ive got one of those clocks... i'll speed it up abit. lol.
Knight takes pawn... (or should I say ANV takes lots of pawns.. (in there bigger game))|
|Bloody hell JJ you a chess player ? took you long enough to answer :)))
will expect a reply in a month's time ;)|
|Lol JJ I'll probably have joined you by then.My gawd don't we pick em
Hope all is well with you.|
|looks like ill be 6 ft under then, by the time it gets back to 7p! Things can turn around quickly on AIM though,.,,,, so you never know.|
|yep, looks like we'll get old waiting for this one to get back to th 4p mark - but stranger things have happened - do you know of any feed back frm the morning tv tie up?
btw i'm a pygmy...|
|Make's you wonder dunnit fegga.Think we're in for a long wait :(
ps it's short if you're a pygmy ;)|
|not so much a tree shake as a felling operation....
more bad news in the offing? perhaps the liquidators are knocking on the door after all.|
|Please note the following new thread which may be of interest:
"Telecom Shares You Should Buy: The Tips League Table"