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Diablo Share Discussion Threads
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|Sounds like music to the ears.|
|Diablo Group to acquire White Noise Music, change its name to X-Phonics
LONDON (AFX) - Diablo Group PLC said it intends to acquire White Noise Music
Ltd in a share transaction, raise funds through a share placement, and change
its name to X-Phonics PLC.
Diablo said it has entered into an agreement to wholly acquire White Noise
Music from guitarist John McLaughlin in a share transaction valuing the company
at 329,380 stg.
Diablo also has an option to acquire up to 24.99 pct of Terminal Music Ltd
(trading as the Mixing Rooms) from by John McLaughlin and Stuart McCredie for a
consideration of up to 249,900 stg, or 10,000 stg for each percentage acquired.
Diablo said 24,562,500 new ordinary shares have been conditionally placed at
a price of 4 pence per share, to raise 982,500 before expenses. The net proceeds
of the placement will be applied to meet the current overheads of the business,
working capital requirements, and may be use to exercise the option in respect
of the Mixing Rooms.
Diablo intends to change its name to X-Phonics PLC to protect the company's
intellectual property through the registration of trademarks. It said this
protection was not possible with the company's previous name.
Diablo said John McLaughlin will join the board as managing director on
completion of the deals, all of which are subject to shareholders' approval at
an EGM to be held on Aug 29 2006.
Diablo Group plc
03 August 2006
Announcement for release 3 August 2006
DIABLO GROUP PLC
Proposed Acquisition of White Noise Music Limited ("Acquisition"),Placing of
24,562,500 new ordinary shares ("Placing") in the capital of the Company at 4p
per share ("Placing Price"), Share Reorganisation and Change of Name (together
the "Proposals") and Notice of Extraordinary General Meeting ("EGM")
The Company has entered into an agreement to acquire the entire issued ordinary
share capital of White Noise Music Limited ("White Noise") from John McLaughlin
for a consideration to be satisfied by the issue of 8,234,500 Ordinary Shares,
valuing White Noise at #329,380 ("the Acquisition"). The Company has also been
granted an option to acquire an interest of up to 24.99 per cent. of the share
capital of Terminal Music Limited (trading as the Mixing Rooms) ("Mixing Rooms")
by John McLaughlin and Stuart McCredie for a consideration of up to #249,900,
being #10,000 for each percentage interest acquired ("the Option"). Further
details of the acquisition agreement and option agreement are set out below.
John McLaughlin will join the Board as Managing Director on completion of the
Proposals. John has over 20 years' experience in the music industry and the
Directors believe he will be invaluable in contributing to the future strategy
of the Group. Further details of his experience are set out below.
The Company proposes to raise #982,500 before expenses, which will be applied to
the current overheads of the business, working capital requirements, and may be
applied to exercising the option in respect of the Mixing Rooms, in due course.
As the Placing Price is below the current nominal value of the Company's
ordinary shares of 7.5p, it is proposed to effect a share reorganisation to
subdivide each issued ordinary share of 7.5p into one ordinary share of 1p and
one deferred share of 6.5p. The unissued ordinary shares of 7.5p will be
consolidated and subdivided into ordinary shares of 1p. Further details of the
share reorganisation are set out below.
The proposed share reorganisation requires shareholders' approval in general
meeting. Accordingly, the Placing is subject to the passing of the relevant
resolution and the Acquisition and the Option are, in turn, both conditional
upon the Placing.
Your Board propose to change the name of the Company to X-Phonics plc to
facilitate adequate protection of the Company's intellectual property through
the registration of trademarks. This protection was not possible with the
Company's previous name. The change of name requires shareholders' approval in
Diablo Group plc
25 May 2006
Announcement - Diablo Group plc
Diablo Group plc
Change of Accounting Reference Date.
Diablo Group plc has changed its accounting reference date to 30 September 2006
for the current year and annually thereafter. As notified at the time of
Admission to AIM, this is to bring the accounting period in line with the
practice in the music industry to account for royalties receivable in October of
|Interim results for the nine months ended 31 December 2005
I am pleased to announce the Group's first results following the Placing and
Admission to AIM in October 2005. These results for the nine months ended 31
December 2005 reflect the planned investment in the business since flotation,
and the build up of the capabilities, infrastructure and contacts critical to
The Group made a pre-tax loss of £596,936. The operating loss for the Group was
The Group's accounting policy for revenue recognition is to recognise only
those revenues that are certain (i.e. receipt of cash), and as a consequence,
no estimates for future royalties are included in these results.
Cost of sales includes all direct costs incurred in respect of sales recognised
or to be recognised in the future.
The Group's accounting policy as regards recoupable costs from artists or
writers is that advances and expenses incurred in supporting acts are assessed
and the value of the un-recouped portion is determined by reference to the
prospect for future recovery based upon past sales performance, current
popularity and projected sales. In this period no such carry forward of
expenditure was considered appropriate primarily because of the early stage of
development of our business.
Administrative expenses of £288,717 in the period reflect the planned increase
in salaried employees and directors, and the running costs of the business.|
|29 March 2006
Diablo Group Plc
("Diablo" or the "Company")
Mike Hosie appointed as Managing Director
Diablo Group plc, the AIM listed independent record label, music publishing and
media production company, announces the appointment of Mike Hosie as Managing
Director. This appointment is on an interim basis whilst the Company seeks
candidates with strong music industry experience to replace the previous
Managing Director, Mike Unwin. Mike Hosie will also continue the duties of
Finance Director, the position which he previously held.
With immediate effect, Mike Unwin is stepping down from his current position in
order to further pursue his career in the film and television industry. He will
continue to support the company and assist in the development of this area of
the business on a consultancy basis|
|Embargoed: 24 January 2006, 0700hrs
Diablo Group Plc
("Diablo" or the "Company")
Diablo Group Plc, the AIM-listed independent record label, music publishing and
media production company, is pleased to announce the signing of contracts on 19
January with The Disc Kiosk Ltd ("The Disc Kiosk") to become a sales agent for
its CD on demand services Worldwide. The technology employed by The Disc Kiosk
allows record companies to maximise revenues from old and deleted titles by
making them available to customers online. The CDs are then produced to order,
thus removing the need for costly pressing and storage, and mailed direct to
Diablo will be working in partnership with The Disc Kiosk to expand the
business and client list, which already includes Universal Music Group who have
approximately 1,000 deleted titles with The Disc Kiosk, which have been selling
for 18 months. Diablo will be looking to attract additional record labels of
all sizes, from the UK and internationally, to add their catalogues to The Disc
Kiosk and will benefit from commissions on a per unit basis of CDs sold by The
Disk Kiosk from catalogues introduced by the Company.
Diablo's Creative Director, Neil Reed, said, "The contract with The Disc Kiosk
represents a substantial opportunity for both parties. The service they provide
offers to record labels a risk free additional revenue stream. Coupled with our
marketing and industry knowledge, this can only be a win-win situation for
|Immediate release: 30 November 2005
Diablo Group Plc
Record Label & Publishing Division: Update
Diablo Group plc, the independent record label, music publishing and media
Production company, is pleased to announce its collaboration with Rick Finch, a
US producer who has achieved four Grammy awards. The arrangement is in respect
of a planned release in the US of an album by British artist Fran Balke. The
album will contain four tracks which have been written and published by Diablo
and are being co-produced with Rick Finch.
The company has ceased its contract with indie rock band, Dive Dive. This
decision was taken by the Board based upon past album sales and anticipated
future revenues from this group not achieving appropriate levels.|
|Diablo Group Plc, the independent record label, music publishing and media
production company, is pleased to announce the signing of contracts with
Russian artist, "Love," to produce her new music video. The track, "Nowhere to
Run," is due for release in Russia in the New Year.
This contract comes as a result of the establishment of a new relationship with
leading Russian artiste manager, Michael Topalov, from whom the Company expects
to receive further commissions for music videos in the next three months. The
Company is currently in discussions regarding a number of other Russian artists
that are keen to come to the UK and take advantage of the production values
that Diablo can offer. One such artist is singer/songwriter Tinatin, who Diablo
are currently negotiating with to shoot a video for her song "I Pray."
Managing Director, Mike Unwin, commented,
"The Russian music industry is a key market to break into as the majority of
their music production is performed in the UK and USA. Our relationship with
Michael Topalov, which has already resulted in one signed contract, and another
pending, should provide Diablo with an attractive and lucrative flow of
business from Russia."|
|Looks like a good Punt, my grand kids have heard of them (bands) and they have them on their ring tones. The company doesn't give the band an advance (that's a plus) and they are Multi-Faceted group that produce music, videos, write songs, manage bands etc....... I'll have some of that... as I am sure one of the majors will come and gobble them up in the net 2 years (like they do with all the other Indies)......
|First Day Dealings on AIM
Diablo Group Plc ("Diablo" or "the Group") announces the admission of its Ordinary Shares to trading on AIM.
Diablo's shares begin trading on AIM today.
A total of 32,938,000 Ordinary Shares are being admitted to trading, giving a market capitalisation of £3,293,800 at the placing price of 10p per share.
Diablo is an independent record label and media management company.
Diablo has three bands under contract which have achieved recognition in their respective market sectors. It released its first Dive Dive album in 2005 and the other two bands, Twen2y 4 Se7en and Kingskin, are expected to have albums released in the next six months.
The Group's activities include video production, songwriting and publishing. Currently the larger proportion of revenues are earned from audio and video production and the provision of management services. Development of the recording business is expected to produce further revenues.
The Group intends to generate additional revenues from the marketing and release of singles and albums by other record labels and music management companies and by providing management services.
Diablo's Nominated Adviser is W.H. Ireland Limited.
Diablo's Joint Brokers are W.H. Ireland Limited and S.P. Angel & Co Limited.
Robin Davies, Chairman, commented:
"I believe that the current market provides an opportunity for Diablo to maximise revenues and increase industry profile through offering our wide range of products and services. Admission to AIM provides the additional opportunity to further develop the business, and we look forward to the future with confidence. "|
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