Axon Share Discussion Threads

[joestalin] 26/8/2008 14:06

The Axon Directors and certain key employees who are or, prior to the Court Meeting and the General Meeting, may be Axon Shareholders have irrevocably undertaken to vote in favour of the Scheme and the resolutions to be proposed at the Court Meeting and the General Meeting in respect of their beneficial holdings. This beneficial holding is currently 147,420 Axon Shares representing approximately 0.2 per cent. of Axon's existing issued share capital. However, if existing awards over 3,425,000 Axon Shares vest under the Executive Reward Scheme in October 2008 as described in the preceding paragraph, the Axon Shares that are the subject of the irrevocable undertakings from the Axon Directors and certain of the key employees, will increase from 147,420 Axon Shares to 3,572,420 Axon Shares representing approximately 5.6 per cent. of Axon's existing issued share capital. The irrevocable undertakings given by the Axon Directors and certain of the key employees will continue to be binding even if a higher competing offer is made for Axon, unless the Acquisition does not become effective.

Directors are determined to sell up. Move on.

[steva] 26/8/2008 13:09

"The irrevocable undertakings given by the founders will continue to be binding even if a higher competing offer is made for Axon, unless the acquisition does not become effective by 31 December 2008"

Seems a bit strange

[blockbuy] 26/8/2008 12:04

sp trading above 600...........very strange considering 600p is the reported bid..............

who else is out there???????????

;-))))))))))))))

[mog] 26/8/2008 11:48

Well this is ridiculously cheap on less than 15 times earnings and growing at about 25% in uncertain times. Hopefully they've agreed to this just to flush out some other bidders.

[wilmdav] 26/8/2008 10:23

"Despite the agreed deal, market sources said other parties were considering tabling a rival offer. Axon has agreed a break fee of £4m." (Telegraph)

"The only possible hindrance to this deal might come from shareholders themselves. Axon is a company with around 72 % of its stock floated on the markets. The remaining 18% lies in the hands of the founders and company executives and employees." (India Street). They can't add up.

Ianst99

Are you double counting or have I missed something? My understanding is that only 18% of shareholders have irrevocable agreed.

[blockbuy] 26/8/2008 09:46

Well done on the profit Joe...........what's E&P??????????

I see Axon sitting on £19.2m in cash...........so the offer is only something like $710m...............tut tut............too cheap imo..............

Axon popular in the press today...........

[joestalin] 26/8/2008 09:37

In a perfect market, there would be an auction, with CG or someone bettering the bid. As things are at the moment, there is a reluctance to fund a TO on borrowed money, so if the institutions who hold most shares, want the cash, and they probably do, then the PI will be ignored as usual.

I am in profit by 100% so I will move on - the small E&P sector is laughably undervalued right now.

[blockbuy] 26/8/2008 09:18

don't forget Lloyds etc bought at £6 ish.............coincidence????????????

lol..............

;-)))))))))))))

[mrminister] 26/8/2008 09:14

them indians try to nick it on the cheep..... £9.20 last september lol...

everybody sounds happy on both sides mind.... and citi rubber stamp it

were's to footsie of too ?

[ianst99] 26/8/2008 09:07

Will hold on
only 18% of the shareholding locked in to this offer.
Interims good EPS 21.5p with say 20% growth this will 25.8p for next 6 months total of 47.3p (note dollar also at a better rate)
giving PER of 602/47.3 =12.7
peg of roughly 12.7/25=.51

This makes the offer to cheap what do you think?

[blockbuy] 26/8/2008 09:04

now don't forget this article..............£1 or £15 extra..........which would you rather...............

just looking at the interims.............continued growth I see.......23%.....so again..........why accept just £1.............

and market expectations...............every year for the last how many I I've lost count Axon has always beaten H1 with H2 figures............so based on previous history yet again the market expectations are potentially below reality................

nice..................

;-)))))))))))))

[blockbuy] 26/8/2008 08:43

hang about..........what about all those American companies Axon bought...........did they go into the deal with Axon knowing about Infosys or is this Infosys thing a bolt out of the blue?????????????

;-))))))))))))))

[blockbuy] 26/8/2008 08:41

morning all.............well news indeed.........those articles are all dated one day yet quote Monday.......lol............something's afoot............

stupidly cheap if you ask me..............someone's looking for a quick bargin.............hopefully some sort of bidding war takes place..........

nice..............

;-)))))))))))))

[cambium] 26/8/2008 08:40

re4ject the offer

[slogsweep] 26/8/2008 08:19

this is a rediculously cheap price. It was well over £9 a year ago and the profits are increasing - what are the board thinking of - not shareholder interest thats clear - lets hope the big shareholders throw it out.

[milacs] 26/8/2008 08:12

Revenue for six months up 28% EPS up to 21.5p from 17p.

We are being sold out on the cheap.

M

[wilmdav] 25/8/2008 20:27

It's not done and dusted. Sit on your hands folks.

Looking forward to hearing what Jo S has to say about this.

Someone has got to want this company at more than 600p.

[steve prest] 25/8/2008 20:12

Isnt it results day tomorrow too

RNS Number:0977T
Axon Group PLC
25 April 2008


25 APRIL 2008

AXON GROUP PLC
("Axon" or "the Group")

INTERIM MANAGEMENT STATEMENT AND AGM

Axon Group plc, the SAP Business Transformation consultancy, holds its Annual
General Meeting at 11:00am today. It is also publishing its interim management
statement for the period from 1 January 2008 to date.

Operational Highlights

EMEA
In EMEA, significant developments have included a 10 year transformation
partnership contract with Wolverhampton City Council, announced on 20 March,
which reinforces Axon's established position in the local government sector.
This is the largest ever contract for which Axon has been appointed as prime
contractor.

In addition, Axon has recently won the SAP UK Partner Excellence Award for ESOA
(Enterprise Service Oriented Architecture).

Americas
In the Americas, the Group's new client wins include Newell Rubbermaid, Port
Authority of New York & New Jersey and Oklahoma City Water Utilities Trust.

Axon was also very pleased to announce recently the recruitment of Steve Peck
from SAP as President of Axon's American operations. Steve joins Axon
from SAP Americas & Asia-Pacific Japan, where he was Senior Vice President
and also served on the CEO council.

Financial performance
The year has started well, with chargeability remaining high and strong
performance, particularly on EMEA fixed price contracts.

Commenting on Axon's performance, Chief Executive Steve Cardell said:

"Despite the uncertain macroeconomic environment, trading has been encouraging
and we expect first half revenues and adjusted operating profits to be
materially above those for the same period last year. Orderbook and pipeline
continue to build in both the UK and Americas."

Axon expects to publish its interim half year results on Tuesday 26th August
2008.

[milacs] 25/8/2008 19:57

Hunter is desperate for the cash.

We should vote it down.

M

[dr know] 25/8/2008 19:16

The announcement is on the www.axon.co.uk website and it's only 600p.

[wilmdav] 25/8/2008 16:43

I don't see how this can be done and dusted unless at least 50% of holders have irrevocably agreed, thereby blocking a counter offer. At present I don't like the smell of it.

[spacecake] 25/8/2008 14:59

600p per share... I worked it out higher that, 633p. I suppose we will have to wait for the company annoucement.

[dr know] 25/8/2008 14:39

Beware some articles are quoting the price as Euro 407m, including, strangely, the header for the announcement on the Bombay Stock Exchange, but the text inside does say INR 33.1 Bn, US$753m, £407.1m, so it looks like £407m is the correct value.

I also put the proceeds of Northgate Info takeover into this. I was a bit miffed when Detica got taken over and I thought I'd backed the wrong horse, but it's turned out okay in the end. What's the next takeover candidate ? Kewill, Innovation Group, Alterian, Dimension Data ?


(edited a typo)

[mrminister] 25/8/2008 14:24

how do they keep it under wraps..... no inclin on this....vol was pitifull last week

[wilmdav] 25/8/2008 14:21

Surely a reflection of the current financial environment, i.e. institutions wanting/needing the money. It's hard to believe directors would wish to sell at this price, with possible exception of Hunter. Maybe some arm twisting involved. Nothing on the company website yet.