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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Freedom4 Comm. | FFC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 19/5/2008 17:47 by bubface didn't help much unfortunately!Collins Stewart Europe Limited is stockbroker to Freedom4 Communications and makes a market in its shares. This document is Non-independent Research and a marketing communication. Please see disclaimer for further information Freedom4 Communications UK | Telecoms | FFC LN 16 May 2008 Contact Mark James +44 (0) 20 7523 8401 mjames@collinsstewar Recommendation Buy Price 1.66p Post Distribution Target 2.60p FY 2007 results superseded by March distribution Little new news since March Full year results for the year ended December 2007 have been largely superseded by the sale of the hosting business and return of cash to shareholders in March 2008 see our Cash Return note dated 17 March 2008. With limited new news on Wimax network roll out we expect investors may concentrate on the apparent disparity between asset values and the market cap. Current share price places little value on the cash held in escrow.. We set out overleaf our estimate of the assets of F4C at present. The company has around £3m of cash, offset by some commitments to invest into the Wimax JV. Over and above this the company has £17.5m (1.64p a share) of loan notes due from Oakley Capital, repayable within 18 months of issue (April 2008), which it intends to distribute to shareholders via a subsequent distribution, and a further net £10m cash held in escrow (0.93p a share). .. and little value on the Wimax JV Post the cash return F4C also retains its 52% stake in the Wimax JV with Intel. There is nothing in the current share price in our view for this venture. Perhaps this is understandable: the JV has just finished trials, has yet to articulate detailed roll-out plans and the business case for Wimax remains unproven. But at the very least it has option value at these price levels, in our view. 2.60p price target justified on loan notes and escrow cash alone We have set an initial price target of 2.60p: the total of the loan notes and the cash held in escrow and initiate with a Buy rating. Higher valuations are perfectly possible but we suspect investors will want further details of a successful commercial roll out in order for the shares to reach higher levels. Additional data Market Cap: £21m EV: £21m Shares issued: 1,070m Daily ave. volume: 4m |
Posted at 16/4/2008 15:45 by tratante Like the rest of you, I am feeling pretty unhappy about all this, but don't give up on AIM altogether; there are some good companies on it. Tanfield (TAN) are doing good things in the electric vehicle and powered access businesses, just announced a link up with Ford. But more than that, they have very solid management and provide a lot of investor information. I doubt you will find a better run company, the very antithesis of the snake oil dealers we have had to contend with here. I haven't posted much, but enjoyed the good humoured approach many of you have provided. At least this thread has been conducted by ladies and gentlemen, even if the company hasn't. Good luck everyone. |
Posted at 15/4/2008 10:55 by spights Interactive Investor Thank you for your contact yesterday via our Live chat service. I have attempted to contact you by telephone on the only number we hold on our records ............. however, when I called this today at 9.30am there was no reply only a bleeping signal without any commentary inviting me to leave a message. As I am unable to speak to you directly I will address your concerns in this email. I have also sent you this information by letter. I am sorry that you have had to complain and for the inconvenience caused. I understand your complaint relates to the recent Corporate Action event for your Freedon4.Com shares, which was by the method of a Tender Offer. As your shares are held in a Nominee account, we are reliant upon the company Registrar to provide us with details of information or send us entitlements or cash balances. As a Nominee shareholder, you would not follow the same timetable as if your shares were represented by a share certificate. We confirmed on our website that payment for the Free4.Com Tender Offer event would be paid to you on or around 18th April 2008, which is in line with the timetable of event. I have spoken to our Corporate Actions Team who has confirmed that we have now received the cash balances for this event and we are currently in the process of crediting customer accounts. Once we have received payment from the company Registrar, we have to reconcile cash balances to customer accounts. Under the regulatory guidelines, we have 10 working days to reconcile payment to customer's accounts. However, you should receive your payment within the next couple of days. I apologise if you were provided misleading information when you contacted us on our Live chat service. Once again, I am sorry for the issues that you have experienced and trust my response fully addresses your concerns. If it does not or you require further assistance, please do not hesitate to contact our Customer Relations Team on 0800 085 3797, between the hours of 8.00 - 16.30 (Monday - Friday), quoting the reference given at the top left hand corner of this letter. Kind regards Martin Dunne Customer Relations Team |
Posted at 04/4/2008 14:40 by puszta ripoff.....mess..... |
Posted at 03/4/2008 10:38 by deanroberthunt AIM = legal mechanism invented by the City to fleece private investors...end of, nuff said. |
Posted at 17/3/2008 21:16 by steve_j Hi all - fairly green investor here.My PXC (now FFC) holding averages 13p/share, more or less. Therefore, i don't really want to take the offer and have to take a hit, so am considering holding. But why would I be barking mad to hold? I know FFC might never reach 13p or higher again, which is just the risk I take, but am i missing something and there's a larger rock about to fall on my head if I don't accept the offer? Cheers S EDIT -- just read back earlier and saw VOB's comments. I think that sorts me out :) |
Posted at 17/3/2008 19:41 by davius Some comments from the documents (thanks for the link):"Who is eligible to participate in the Tender Offers? The Tender Offers are open to all Qualifying Shareholders who are on the Register at 5.00 p.m. on 3 April 2008 (the "Record Date")." From what I have read the price is highly likely to be 10p a share, as it only increases to take account of anyone that doesn't take up the tender offer, and you'd either be barking mad or indisposed (and I suspect they'll be a very few of each) to not take up the offer. "How many Ordinary Shares will there be in issue after the Tender Offers? This will depend on the number of Ordinary Shares that are successfully tendered. Assuming that all the Option Holders and Warrant Holders exercise their respective Basic Entitlements in full and the Tender Offers are fully subscribed and accepted by Collins Stewart (and that Collins Stewart exercises all Call Options granted to it) the number of Ordinary Shares in issue following the Tender Offers is expected to be 1,011,877,169." With just over 1bn shares in issue after the tender a 0.6p share price would make the remaining company worth £6m. That seems way too low given that there are a further £20m of loan notes, plus some cash and assets. I'd guess at a minimum of 2p. So my example of buying 100K shares. Current price of £6500.00 + costs (SP down to 6.5p at the close), cash return of £5800.00 mid April, net investment £700.00. 42K of shares @ 2p each would be £840.00, net profit of £140.00. Probably not worth the bother to a new investor, hence may explain why the share price is falling back a tad. Unless the remaining business is estimated to be worth 3p or more, which is possible. Were the current share price to dip to say 6p per share then I'd definitely take the punt though on the basis of aquiring 'virtually free' shares in the remaining business. |
Posted at 14/3/2008 17:22 by bobdown2 i left here about 2 months back..but before that i held onto pipex for over 2 years! who said investing was for the long term. probably the man going into prison..as investors we deserved better..regards bob |
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