Fonebak Share Discussion Threads

[typo56] 07/8/2005 17:35

Also mentioned in The Independent yesterday. Brokers suggesting they are trading ahead of budget.

[toby tots] 07/8/2005 09:31

The share price went up 14p on Friday...Iwonder why? Oh I see it's tipped in the Sunday Telegraph today. Well well!

[fund1] 01/8/2005 23:02

01 August 2005


Fonebak PLC (the 'Company')

Fonebak PLC acquires Intec Group Ltd.


Fonebak PLC the leader in mobile phone re-use, resale and recycling announced
today 1st August 2005 the acquisition of Intec Group Ltd.

Intec was founded in 1996 and has developed into one of the UK's leading mobile
phone repair service organisations.

Its turnover for the year ending September 2004 was £15 million with operating
profit of £660,000, profit before tax of £634,000 and gross assets at 30
September 2004 of £4.1 million.

It has over the last six months restructured its operations and while sales are
anticipated to reach a similar level to those in the year ended 30 September
2004, operating profit will be impacted for a period of time by the changes. The
Board of Fonebak expect the acquisition to enhance earnings in the current
period and beyond.

Kathy Woodward Chief Executive of Fonebak PLC said:

'We are delighted to be joining forces with Intec. The two organisations have
worked closely together over the last twelve months and we are confident that
they are the right partner as we develop our strategy of providing integrated
post handset sales services.'

Harry Ramis who will continue in his role as Managing Director of Intec said:

'This is an excellent opportunity for Intec. We know the Fonebak team well
having supported them in establishing their repair and refurbishment centre in
Romania.

We will now be able to offer our clients, who include the major network
operators, retailers, insurance companies and manufacturers a range of service
options including combining time critical local services with cost effective
offshore alternatives.'

The acquisition is for an initial cash consideration of £1.7 million with a
maximum additional cash consideration of £2.5 million payable on the delivery of
certain performance criteria over a maximum period of two years to 30th June
2007. The acquisition will be financed by a mixture of existing cash resources
and enlarged banking facilities.

Fonebak who floated on AIM on 31st March 2005, gave a recent trading update of
their year ending June 2005 advising of a strong final quarter of the year,
sales up to £37million from £27million in the previous year and profit
anticipated to be in line with management expectations. Their maiden results
will be announced on 26 September 2005.

1st August 2005

Enquiries:

Fonebak PLC
Kathy Woodward, Chief Executive Officer 01708 683400
Pelham Public Relations
James Henderson 020 7743 6673
Charles Vivian 020 7743 6672


Notes to Editors


Fonebak PLC

Fonebak is the UK based leader in the refurbishment, resale and end of life
processing of mobile phones. It has contracts with mobile phone operators,
major retailers and handset manufacturers across Europe to provide services to
repair, refurbish and either remarket and/or recycle the millions of handsets
replaced each year (it is estimated that over eighteen million handsets are
replaced each year in the UK alone).

Fonebak not only provides environmental compliance for its clients and delivers
affordable communications to the populations of developing economies (the
majority of whom are unable to afford the price of even the cheapest new
handset), but through its World recycling support scheme it also raises
international environmental awareness and through revenues generated on behalf
of its clients (much of which is donated to charity) supports over 1,000
charitable activities. Its combination of business success in international
trade and its contribution to corporate social responsibility have won it a
number of accolades including Business in the Community Award for Excellence and
Queens Award for Enterprise 2005.


Intec Group Limited

Intec is an established and leading specialist in the after sale support of
mobile phone handsets. The group comprises two divisions: Intec Distribution and
Intec Cellular Services. Intec is recognised in the mobile phone industry for
its outstanding levels of quality, customer service and innovation. It has for
the last three years won the industry award for repair centre excellence.

Intec Cellular Services has accreditations to carry out repairs for the majority
of handset manufacturers and provides complete repair solutions for insurers,
network service providers, manufacturers, and retail organisations.

Intec Distribution provides a range of supply services, including sourcing,
specialist fulfillment and logistics services.


Biographies

Kathy Woodward, Chief Executive of Fonebak

Kathy joined the organisation in 2002 having previously spent five years with
The Astron Group ('Astron') where she held a main board position of group
operations director. Prior to Astron she was Development Director with the
British Printing Company Ltd and had spent her early career with ICL plc.

Harry Ramis, Managing Director of Intec Group

Harry founded Intec in 1996, having previously developed one of the first high
street chains of mobile phone retail stores. His previous experience had been in
a number of senior technical roles with NEC, including responsibility for
establishing their total third party repair outsourcing activities.

[typo56] 21/7/2005 16:05

TheCleaner, didn't you see this morning's trading statement? Take a look at the Peel Hunt forecasts. Looks to me like it's profitable, with steady earnings growth and decent cash flow.

[thecleaner] 21/7/2005 07:49

Sounds like it is run by a load of do-godders. Anyone know whether or not this one makes a profit?

[warren blufferstein] 18/7/2005 22:22

Had a look at www.fonebak.co.uk I could not find anything about the company's financial position on the site, and I could not find a declaration that the company's shares traded on the London market. In fact, I felt as though I was visiting a charity site with all the good works in evidence. I think the shareholders deserve better than that.

[phil2003] 22/5/2005 12:31

that tip went well then! tipped by who? have you got the artical

[zabbadan] 09/5/2005 10:01

tipped today

[phil2003] 17/4/2005 14:20

i suspect this one will start to move as / when the (EEC) WEE directive gets more news coverage later in the year, the launch date of the WEE directive (corporate / retailers resonsability for recycling certain items) keeps on shifting and the goverment are now talking about implemenation early '06..
(have a look on some of your electrical equipment if bought recently it'll have a whellie bin symbol with X through it, this is all in preperation for the forthcoming legislation).

So apart from having all the high street majors already on board (which has been factored into the offer price) you have to ask yourselves going forward, how many people are going to recycle through (the high street shops) fonebak and how many people are going to sell on ebay etc.
i remain unconvinced for the time being, imho.
Also can't find any finacial stats on sheilds, the parent company, anyone ?

[petemorr] 06/4/2005 22:49

A quick google search reveals some interesting info.

Anybody got any thoughts on this one?

[double6] 05/4/2005 13:07

Any info ??