|Oil Fund Manager looks to good Q4 for oil juniors
Angelos Damaskos, CEO of Sector Investment Managers, tells Proactiveinvestors that there are a number of factors that suggest that it could well be a good Q4 for junior oil companies. Angelos discusses Xcite Energy(LON:XEL) and says that there remains more upside despite the recent gains in the stock. Parkmead Group (LON:PMG) and Iona Energy (TSX-V:INA)
Charts on the other thread:
New thread IONA:
cash rich asset poor
|Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) announced today that it has closed its previously announced public offering (the "Offering") of common shares for gross proceeds of CAD$92 million. A total of 184,000,000 common shares were sold, which includes shares issued on the exercise in full of a 15% over-allotment option granted to the agents retained by the Company for purposes of the Offering. The sale price of each share sold in connection with the Offering was $0.50.|
|Any chance of adding charts?|
|New thread IONA:
cash rich asset poor
|Important to note that they have priced a large placing at $0.50 and this will double the shares in issue, however with a debt facility due to be confirmed shortly, they will be fully funded for development of all their projects. Exiting 2012 with 10,000 boepd would be very impressive...|
cash rich asset poor
|Thanks for the heads up on this one, early reading seems to indicate it looks very promising|
|Thanks very much. Some nice bedtime reading.. :)|
|Try this - looks like Ithaca II
cash rich asset poor
|Its only on TSX at the present time. You can overseas shares through TDW and its easy to set up an account with them.
Apologies for the abysmal thread - no idea what I am doing as of yet!|
cash rich asset poor
|Is this only on TSX or is it also AIM?|
cash rich asset poor
|Has moved back up over the last few days - someone thinks that they are oversold !|
|The sale of Berliner Fenster- how much was the value of this?, cannot get a figure anywhere.|
|Doubt that they're going bust but they may need to raise more working capital to fund their operations this year.|
|Is INA about to go bust ??
Looks well dodgy to me|
|Bad news Friday, good news Monday..
How lasting or temporary the impact?
INOVA HOLDING PLC
US$14.7m infotainment contract with NBC Universal
KAUFBEUREN, BAVARIA - Inova Holding plc ("Inova" or "the company") announces
that it has won a US$14.7 million contract with NBC Universal ("NBC") for the
delivery and maintenance of a passenger infotainment system for PATH (Port
Authority Trans-Hudson), the train service connecting New York City and New
Jersey and used by more than 60 million passengers every year.
Under the contract, Inova will deliver a total of 1,360 double video screens and
equipment for 340 new trains being purchased by PATH, from Kawasaki Rail Car of
Japan, as part of a US$500 million replacement programme.
In addition, the company will supply stationary video screens for 12 stations
and Wi-Fi installations for 5 stations, as well as a studio interface which will
enable NBC to deliver programmes on the new infotainment system.
Installation will start in 2007 with completion scheduled by 2010.
The contract will begin to contribute to Inova's revenues during 2007. The
maintenance element of the contract, worth a total of US$6.7 million, will run
from 2008 to 2018.
Josef Kreidl, Inova's Chief Executive Officer, said:
"This contract represents a major breakthrough for Inova in the US mass transit
market and confirms our belief that passenger infotainment is poised for rapid
development. It reinforces Inova's relationship with NBC Universal, one of the
leading US media companies and a pioneer in this market, with which we are
developing opportunities in many of the largest US cities."|
|Josef Kreidl, Inova's Chief Executive Officer, said:
"Inova's leading position in the global market for rugged embedded systems
provides us with an opportunity to achieve rapid and profitable growth in both
our core business and the emerging on-board infotainment market. We have a clear
strategy and strong management team, and the funds raised will enable us to
create substantial value for shareholders."
Details of the placing
Placing price 65 pence
Total number of new ordinary shares placed on behalf of the
Total number of ordinary shares placed on behalf of selling nil
Number of ordinary shares in issue following the placing 32,238,540
Percentage of enlarged issued share capital subject to the 47.7 per cent
Gross proceeds of the placing to be received by the Company #10 million
Estimated net proceeds of the placing receivable by the #8.6 million
Market capitalisation of the Company at the placing price #21 million
Daniel Stewart is the nominated adviser and broker to the Company.
Inova: +49 8341 916 265
Daniel Stewart +44 20 7776 6550
Ruari McGirr or Jonny Franklin-Adams
Bankside: +44 20 7367 8888
Simon Bloomfield or Steve Liebmann
INFORMATION ON INOVA
Established in 1997, Inova is a developer, manufacturer and distributor of
embedded computer systems, with particular expertise in systems for rugged
environments. From this base it has also developed an expanding Passenger
Infotainment business which provides information and entertainment systems on
public transport including trains, trams and buses. These systems are able to
provide a single solution for real time entertainment and news alongside
passenger information, on-board monitoring of systems and CCTV. The business
uses Inova's core embedded computers and technology as the basis of its system.
Inova is based in Germany with headquarters for Inova Computers GmbH (the
embedded computer business) in Kaufbeuren, Bavaria, and Inova Multimedia (the
on-board Passenger Infotainment business) in Hildesheim, near Hannover. The
Group also has offices in Austria, the USA, Switzerland, the UK and France.
The Group has established an international customer base with increasing sales
across both its embedded computing and Passenger Infotainment business segments.
For the year ended 31 December 2005, total revenues were Euro12.1 million (2004:
Euro11.2 million) including loss-making contracts acquired with the Robert Bosch
Multimedia content software business in 2002 (see below) and completed in 2004.
Excluding Robert Bosch Multimedia contracts, revenues in 2005 increased by 36%
to Euro12.1 million (2004: Euro8.9 million). As a result of a major cost cutting
programme and the elimination of loss-making contracts, pre-tax losses reduced
to Euro0.96 million in 2005 from Euro1.28 million for 2004 and the Company is now
The Directors believe that the Group has certain key strengths which make it an
attractive investment proposition. These include:
* well established market position and range of rugged integrated embedded
computer hardware developed over eight years, including software support;
* modular systems based on open systems ensuring that they have maximum
flexibility and compatibility with other systems;
* Inova's reputation and profile enhanced by developing the new open
standard for embedded computers - "Compact PCI Express";
* new product offering based on this standard to be launched in first half
of 2006; and
* experienced management team including:
o Rod Hoare, non-executive Chairman, has spent 40 years in the transport
industry. He worked in civil aviation for BOAC, BCAL, and British
Airways where he became managing director of British Airways Regional.
He also worked in the shipping industry for P&O after which he was
appointed chief executive of Sally Line. In the rail industry, he led
the team that built and operated Heathrow Express. From 1998 to 2003,
he was Chief Executive of Metronet which successfully bid for two
thirds of the London Underground public private partnership.
o Josef Kreidl, Chief Executive Officer, founded Inova in 1997 and has
been on the board of three companies, one of which he was chairman,
involved in the standardisation and manufacturing of open systems.
Prior to this, he co-founded and was chief executive officer of PEP
Modular Computers Group, an embedded computer business for over 20
years. He is an electrical engineer and has experience in the
development of mainframe and mini computers.
In addition, the Directors believe the Passenger Infotainment segment of its
business has certain key advantages, which will enable this part of the Group to
* an established product in a newly emerging and rapidly growing market;
* a market that is growing in response to specific demands from users;
* multiple sales channels;
* a specialised product based on the Group's existing embedded computer
* market leading content management and control software acquired from
Robert Bosch Multimedia; and
* integrated functionality for CCTV and non-critical systems monitoring.
The Group sells systems worldwide to a range of customers across a range of
industries. These include military, aerospace, manufacturing, energy,
telecommunications, medical and transport. These industries have in common a
requirement that computers offer very high levels of availability and stability
even when placed in hostile environments. Accordingly, Inova has developed
particularly high standards in the ruggedness of its products with regard to
extremes of heat, vibration, sudden movement, impact, moisture and dirt.
In addition, Inova is a driving force for Compact PCI Express, an open source
system for connectivity of modular components, which is a refinement of the
Compact PCI open source system. The Directors believe that Compact PCI Express
is becoming the standard for embedded computer connectivity and that Inova will
be the first supplier offering complete embedded solutions based on this new
Inova Multimedia, the Passenger Infotainment part of the business, was created
in 2002 when the Company recognised a specific opportunity to become a global
market leader in on-board passenger infotainment systems and simultaneously
acquired Robert Bosch Multimedia. The Group established Inova Multimedia as a
separate business segment to develop and sell these systems, developing them on
the back of the Group's existing rugged embedded computing technology and the
know-how, systems integration and content management software acquired from
Robert Bosch Multimedia.
The original system was developed to provide passengers with a combination of
real time information about their journey and infotainment (a combination of
news, sport, weather and entertainment) with the key advantage over existing
systems that both the journey information and the infotainment could be
broadcast in real time. This is a significant advance over previously existing
systems and an area that the Directors believe provides Inova with a significant
advantage over systems using existing competitors' technology.
The Group has developed its Passenger Infotainment offering to provide a range
of key systems. Inova is able to provide this due to its flexible, modular and
robust embedded computer technology. In addition it covers a number of critical
customer requirements. These are:
* real time passenger information including:
o times to stations;
o information on stations or areas;
o information on other relevant transport services;
o any ad hoc information such as delays or emergencies;
* Infotainment services including:
o any sort of entertainment and advertising
* CCTV, which is playing an increasingly critical role for transport
systems in relation to both crime and security as well as congestion
* on-board monitoring of non-critical systems, such as lavatory fill
levels, doors or any other on-board system which can be electronically
monitored, which can be linked to the embedded computer. The information is
then transferred to central service stations to optimise service and
* on-board passenger WiFi access.
The Passenger Infotainment division's offering also includes the MUBIS studio
software which can be used on-site or remotely to load, schedule, manage and
monitor content on the system. In addition, Inova Passenger Infotainment can
provide this service remotely for the client from its own premises.
The Company's Passenger Infotainment offering is applicable to a number of
methods of public transport including trains (the technology can deliver real
time service underground as well as on the surface), trams, buses, ferries and
all associated off-board passenger areas such as stations, garages and stops.
Furthermore, when a transport provider is looking for an integrated system
covering on-board and off-board solutions (which, budgets permitting, is usually
the preferred option), Inova is usually in a strong position as the on-board
aspect of the offering is the technically more difficult element for which Inova
has concentrated on developing its expertise.
One of the key advantages that the Group has in this market is the multiple
sales channels that it is developing due to other companies seeking to add Inova
to consortiums when they are bidding for wider projects. A number of Inova
Multimedia's contracts and prospective leads are now part of such situations in
which the lead bidder has approached the Group in order to satisfy its passenger
information and infotainment elements. The key sales channels are:
* Direct Sales - Inova has an experienced sales force which deals directly
with transport system operators, transport authorities and area or national
government to install its systems or various components of them on
* Vehicle Manufacturers, e.g. Bombardier, Ansaldo, Kawasaki, Volvo - railway
carriage, tram and bus manufacturers in selling their vehicles are
beginning to offer infotainment, advanced passenger information and other
aspects of the Group's offering as part of their offering and to come to
Inova to provide key aspects;
* Systems Integrators, e.g. Hitachi, Toshiba, Siemens - large multinational
companies which act as systems integrators for mass transport systems, some
of which have used Inova to provide key parts of these systems; and
* Media companies, e.g. NBC / Universal, Viacom, Stroer, - on-board
infotainment is being driven by large media conglomerates who regard the
mass transport systems as a new outlet for their content. They have no
ability to address their technical needs and the Group has offerings in
these technical solutions which could lead to substantial contracts.
Inova's offering of modular communication solutions allows customers to utilise
a mix of broadcasting, WiFi, 3G and other communication technologies to optimise
their needs. The infrastructure to transmit the live content to these Passenger
Infotainment systems can take a number of different forms, many of which are
increasingly prevalent and if not can be installed with numerous benefits over
and above the passenger infotainment systems such as transmitting and receiving
security (CCTV), service and maintenance information between mobile equipment
and control stations. The methods of transmitting this content include a mix of
DAB, 3G, GSM and WiFi networks.|
|+ passenger infotainment systems on trains, trams and buses
KAUFBEUREN, BAVARIA - Inova Holding plc ("Inova" or "the Company" or "the
Group") announces the start today of dealings in its ordinary shares on AIM
under the ticker symbol "INA".
The Company has raised #10 million before expenses, via a placing, to fund
* Inova is a leader in the development and manufacturing of rugged computers
which are embedded within control systems for public transport (trains,
trams and buses) and industrial processes which operate under harsh
* This expertise has enabled Inova to expand into Passenger Infotainment
systems for trains, trams and buses providing passengers with real-time
travel information, entertainment and news as well as WiFi internet access.
* Inova has a strong management team led by Rod Hoare, non-executive
Chairman (he led the team that built the Heathrow Express and is a former
Chief Executive of Metronet, one of the London Underground PFI operators)
and Josef Kreidl, Chief Executive Officer, one of the founders of the
* #10 million (before expenses) fund raising has been completed through a
placing with German and UK investors to provide funds for expansion.|
|Now called - Intelliplus Group - Ticker = IPS
|can,t find this stock today.the epic ina does not show up.any clues?|
The idea of buying a company much larger is what they call a 'reverse takeover'...in this climate an easier way for the bigger and hopefully better company to get quoted.Less risky and costly than coming to the market as a new issue.They also get INA's cash to expand with!|
|i got these when this was called ( weather action 24p ) sold at 3.65 ( a bit lucky ) 6p is now cheap , but why buy this company 5 times the size of ina ???? & will it rise like last time ????????????|