||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Financial Objects Share Discussion Threads
Showing 1876 to 1898 of 1900 messages
|Just what I was wondering too drunker50 .Nothing about that on the Court ruling info.|
|Anybody know when we get paid for our shares.|
|You'd have thought so. Meanwhile FIO keep wining new business:
"Financial Objects' activebank Treasury chosen by Alpha Bank London Group
Wednesday, August 27, 2008; Posted: 04:06 AM
7 Stocks You Need To Know For Tomorrow -- Free Newsletter
Aug 27, 2008 (CORPORATE IT UPDATE via COMTEX) -- FNLOF | Quote | Chart | News | PowerRating -- Financial Objects plc, a supplier of software solutions to the financial services sector, announced on Tuesday (26 August) that Alpha Bank London Group, a subsidiary of Greek banking and financial services group Alpha Bank Group, has signed a contract to deploy activebank Treasury to three of its entities.
According to the company, the deal comprises of the base analytics system, the risk management element of activebank Treasury, as well as some additional enhancements.
Alpha Bank London Group reportedly required detailed analysis on interest rate sensitivity to complete new interest rate gap reporting for the UK Financial Services Authority (FSA) regulatory perspective and for internal management reporting purposes.
The Financial Objects solution will initially be implemented in Alpha Bank London Limited to facilitate automation of the interest rate gap reporting requirements of the FSA, followed by a roll-out to Alpha Bank Jersey and Alpha Bank AE, London branch, providing real time risk analysis across the group, the company said.
The initial implementation is expected to take six weeks. No financial details were disclosed."|
|I assume another bid is out of the question at this stage?|
|FIO mentioned in this post and there are a few more companies listed with similar characteristics that may benefit over the coming months
|Hmmm...getting even more convinced the acquirors have got a bargain....
"Shell Trading live on energycredit for oil trading
12 August 2008
Financial Objects, an international supplier of software solutions to the financial services sector, today announced that Shell International Trading & Shipping Company (Shell) is live on its energycredit credit risk management platform. Users in London, Houston and Singapore are now using the energycredit system to manage Shell's credit risk exposures on a global basis across its oil, gas and power trading operations.
Financial Objects and Shell jointly developed specific credit risk functionality for oil trading to provide the first fully integrated cross-commodity credit risk management system. Key aspects of the development were a pre-deal checker and secondary risk management. This functionality is now available on general release in the latest version of the software solution - energycredit 2.1.
"energycredit is the first credit risk management system that can truly handle the complexities of event-based exposure management required for trading oil and other soft commodities. Shell Trading, which went live on the core of the energycredit solution for gas and power trading in 2007, is now benefiting from a fully integrated system that provides a single, global view of credit exposures, more effective management of working capital and enables its traders to work credit limits harder," commented Roland Jones, managing director - Risk Management division, Financial Objects."|
|Doesn't look like it now unfortunately techmark - seems to be going through as is. Which is fine, though another bid would have been rather nice.|
|MM's marking up, is there a counter bidder out there?|
|Sounds like Good advice to me as I believe this company would still do well on its own in the long term. Investors Chronicle recomends to accept the offer. Glad that there are some hopes of a better deal out there .
So fingers crossed.|
|From Small Cap Shares this week - interesting that even now they say there's still the chance of a counter-bid.
I notice that last week FIO won a major contract with Rabobank too.
FIO £25.6m 57.5p HOLD
The financial software provider Financial Objects has received a
£27.2 million, or 60p a share, cash offer from banking software
business Tenemos. The directors of the company are recommending
that the offer be accepted. So far Tenemos has received irrevocable
undertakings to accept the offer in respect of 46.7% of Financial
Objects' share capital.
Financial Objects released a profits warning in May and the share
prices has plummeted since then so it is no surprise to see this bid
come in from Tenemos. The bid is at a 90% premium to Financial
Objects' share price the day before the deal was announced. Given
forecast earnings of 6p in the current year to 31st December 2008
the bid values the company at 10 times earnings, or 8.2 times
earnings if we strip out 10.8p of cash that the company had at the
end of December 2007. In the current market, where the financial
software sector is experiencing deteriorating market conditions,
that is probably about the best price that the company will get in
our opinion. With management backing and a not insignificant
amount of irrevocable undertakings received the deal looks like it
will go through. However, there is still the chance of a counter bid
and as such we suggest that until the deal is declared unconditional
that you HOLD"|
|Holway's perspective on the offer - he notes that Temenos' main competitor is Misys. Let's hope Misys step in!
"Thursday, 3 July 2008
Financial Objects - Another one hits the dust
Financial Objects (FO) has become the latest in a long string of small/mid-sized UK SITS companies to succumb to a bid approach. Temenos has bid 60p (a massive 90% premium to last night's closing price) which values FO at £27.2m. FO had revenues of £21.23m and PBT of £2.75m in FY2007. FO provides software solutions and services for banking and financial services, energy companies, property asset management and document management. They have around 500 customers including Abbey, Wachovia, Aegon, BAA, Bradford and Bingley.
My involvement with FO goes back to its formation in 1995 by Roger Foster (then of ACT fame). They floated in Nov 98 with a £82m valuation and a share price of 230p so the 'takeout' price is a mere fraction of that! But that was as nothing compared with the 790p price that FO hit in those crazy days dot.com of early 2000. Although quite what FO had to do with the internet was a bit beyond me even then. Roger Foster has since stepped down and new CEO, Karim Peermohamed, who I have also got to know, has done a very good job since. Indeed, I'm sure FO's shareholders will raise a glass to him for executing this deal
Temenos' main competitor is Misys. It will be interesting to see how far consolidation in this sector goes..."|
|So now we know why the Chairman and the Directors bought a handful of shares just few months ago...I think since the profits warning just few weeks ago the company was probably put up for sale...this is where the board members protecting their best interest and sell the company whilst they can make a decent profit as they were probably aware that trading would worsen in the second half and the share price would take a dive further...anybody noticed the two trades on Tuesday and wednesday...looks very suspicious and the price lately was also holding up...those in the know!!...
good luck to those private investors who held and made a bit of profit...|
|SKYSHIP - "It was just the Market totally undervaluing the small caps. There will be many more bids at double the market price, just like this one".
I am absolutely sure that you are right. Times are tough at the moment and there are certainly some companies in vunerable market sectors with ropey balance sheets that will go to the wall. However, there are a significant number of small and micro caps that are ludicrously undervalued.
This bid for FIO at an almost 100% premium to yesterday's closing price is indicative of the current market madness. I suspect even at 60p that FIO is still a bit of a steal. I hope that holders receive a counter bid to make things even sweeter.
IMO the market is beginning to throw up 'once in a lifetime' opportunities. The real bargains will no doubt prove to be the companies that avoid being taken out on the cheap since when the good times return they will multi-bag.
For me FIO was a stock I watched for some considerable time a year or two ago (maybe more) when it appeared stuck at around 40p-44p but I never did buy any.
Well done holders with the added bonus of freeing up some more cash to catch another bargain.
|Could Misys come in with an offer in the 75-80p area?
FIO must be heading for £6 million of cash on the balance sheet, so at 75p that would value the company at around £33 million, or about 10 times earnings forecasts. Strip out cost savings and they wouldn't be overpaying at that price.|
|EMF - Good on ya mate. Looks a tad suspicious in my view.
Actually a bit gutted as had noticed the trade and suprisingly a few earlier ones the week before - a couple of 50k ers going through and was watching for any signs of life in the price. MM's never shifted so thought i'd carry on watching. Shame as a bd was always likely, just didnt want to plough back in just on that premise.
Well done to all those holding - had to come good at some point.|
|jazza - there was nothing wrong with the management here - hence the expanding business and profitability. It was just the Market totally undervaluing the small caps. There will be many more bids at double the market price, just like this one. It's just the small matter of spotting them. Norcros (NXR) is my favourite; but in that case the premium might be nearer 125%!|
|Well done to everyone who held on thru all the disappointment.
Guess this was a lame duck waiting for some decent mgmt to take 'em forward.|
|Tole, Re #368. Well spotted. Very suspicious trade:
Trade number A4004J2S68
1 July 2008, 16:18:58
285,000 shares at 33p
I've notified the FSA.
eat more fruit
|Techmark, hope you're right about a counter-bidder. With an inducement fee to pay, director backing etc it seems unlikely, but 60p is surely a bargain price!|
|Next target..........Statpro ? Epic : SOG|
|Reckon whoever bought the 285k a few days back knew something.|
|That would be nice Tech . I believe they are worth more too. But have waited a long time,so this is better than nothing. Someone bought 200,000 this morning at 57.75 so perhaps there is more to come.|
|60p is on the cheap side, I just wonder if a counter bidder may appear here.|