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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Intechnology | ITO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 24.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 24.00 |
| Top Posts |
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Posted at 06/11/2007 08:44 by pbracken You can stay with the company, SundayT, as a shareholder in a private company. The premium is the sweetner for those who choose not to. Wilkinson will argue that the share price will stagnate if ITO remains a PLC, but will flourish if it is delisted. I gather that investors will be given 'windows' (every six months) to sell their shares following delisting. |
Posted at 26/9/2007 12:27 by pbracken Thanks for the post, chris. I only hope we get a chance to share in the spoils before (if) PW makes a bid to take it private. The Interims will be a time to flag-wave and spur on the share price - I mean, ITO has not exactly communicated its recent successes, has it? |
Posted at 30/8/2007 07:16 by pbracken Trading in-line. Note also that ITO appears to have bought PTT from MBT for its own business.InTechnology plc (the "Company") AGM Statement and Trading Update InTechnology plc ("InTechnology" or "the Company"), the voice and data Managed Services provider, announces that at the Annual General Meeting of the Company, which was held on Tuesday 7 August 2007, all resolutions proposed at the meeting were duly passed. The Board also announces that trading continues in line with expectations. Following InTechnology's investment in Mobile Tornado in September 2006, the Company invested in Mobile Tornado's Push to Talk ("PTT") technology which was designed primarily for an operator and developed a PTT managed service. The UK launch went ahead as scheduled in July and is proceeding well. Following the sale of the Company's UK Specialist Distribution division, the Company announces that last week it completed the sale of its Harrogate freehold land and buildings, which had been leased to the purchaser, for #4.6 million giving rise to a surplus on disposal of approximately #2.6 million before tax. |
Posted at 30/5/2007 12:03 by lburby pbrackenbought ito and gme on your good advice ! Have you had a look at lin ? If so, what do you think ? |
Posted at 17/5/2007 01:43 by thailand43 MBT up 33% yesterday despite some very odd looking buy/ sell trade reporting for the day on ADVFN.PB, re your post of 4th April -'No provision for is made for MBT in its forecasts. That could prove to be a significant omission', what significance are you pondering...a sale by ITO of it's holding? |
Posted at 04/4/2007 09:44 by pbracken New note from PANR reiterates 'BUY' recommendation and beefs up the revenue figures for the next two years, highlighting the growth potential of MDS.2008 forecast is for pre-tax of £2.8m on revenues of £51m; 2009E is £6.8m and £61.2m respectively. Cash levels are forecast at £13.5m (I think it will be closer to £15m). The company is debt free. The report also mentions the management's belief that ITO will be a £100m business within three years, and that its more conservative forecasts may have to be revised upward as progress is made. No provision for is made for MBT in its forecasts. That could prove to be a significant omission. |
Posted at 24/11/2006 09:26 by pbracken philjeans - asuming Distribution is achieving last year's revenues, it will turnover about £190m. Now, it has been loss-making in the past, but Wilkinson was bullish about it being profitable this FY. Let's assume it's on course to make £5m (of the £8.5m forecast), what value would you put on the business?Surely it's worth 10 pre-tax, or around £50m? If this is a reasonable ball-park figure, then the mkt would be valuing ITO (at the current sp) at about cash - so Managaed Services, the jewl in the crown of the ITO enterprise, would be valued at nothing. MS is worth 35-40p at least, given its profitability and growth prospects. ITO is definitely due a re-rating. Edit: analysts are suggesting £30m for Distribution (according to Yorkshire Post). Seems too low in my opinion, though much depends on its current level of profitability. |
Posted at 08/10/2006 14:26 by philjeans t43 - I've copied the full RNS here for you to peruse; it's quite detailed and seems to have a sensible rationale to me.Regulatory Announcement Go to market news section Company InTechnology PLC TIDM ITO Headline Proposed Investment Released 07:07 25-Sep-06 Number 3969J 25 September 2006 InTechnology plc Proposed £4m investment in Mobile Tornado Group plc Introduction InTechnology plc ("InTechnology") (RIC: ITO.L), today announces that it has reached agreement with Mobile Tornado Group plc ("Mobile Tornado" or "the Company") to subscribe for 80,000,000 shares in Mobile Tornado for a total consideration of £4 million. The consideration for the subscription of the new shares will be cash and will be financed from InTechnology's internal cash resources. About Mobile Tornado Mobile Tornado specialises in providing platforms and applications in the mobile data services market including presence-based messaging, push to talk (PTT), push to video and related services. The Company sells software licences and services to mobile operators and enterprises worldwide through a number of distribution partners. 10 networks are currently licensed to use the Group's technology and the countries served now include China, India, and Nigeria. For the 13 month period to 30 June 2005, Mobile Tornado made an operating loss of £207,907 and had net assets of £922,273 of which £938,389 represented cash at bank. For the six month period to December 2005, Mobile made an operating loss £56,951 and had net assets of £868,441 of which £616,747 represented cash at bank. Background to and reasons for the investment InTechnology's Managed Services division offers a comprehensive range of IT infrastructure services, including managed data backup and recovery, networks and data centres. The division allows the efficient management of the ever increasing amount of data, which needs to comply with business and legal requirements, as an outsourced service. It offers a comprehensive range of solutions to protect and manage client data and voice networks, thus ensuring business continuity. The Directors of InTechnology plan to make Mobile Tornado's Push to talk services available as an in-network solution or as a hosted and managed service outside the traditional mobile network, via the internet. They believe that the investment in Mobile Tornado will complement the activities of the Managed Services Division for the following reasons: · The Managed Services division recently formed a new Voice over IP ("VoIP") service within its networking business. InTechnology established this business to help businesses to realise the significant operational and cost benefits to be derived from converging their voice and data platforms into one high-performance, scalable and cost effective network. InTechnology's Directors believe that Mobile Tornado's services are highly relevant to this strategy and provide a unique extension into the market for converged voice, video and data services. · Tier 2, Tier 3 & Mobile Virtual Network Operators have historically found the entry cost of PTT services prohibitive. In providing PTT through a pay as you go managed service, these operators are able to achieve a low entry cost. The Directors of InTechnology believe that this will lead to faster market traction for these services, especially as the market is now more accepting of the managed service approach. · Market forecasts continue to position Push to Talk services as one of the biggest new revenue sources available to mobile operators (Source: IMS Platforms and Services : A Global Market Study Nov 2005). · Mobile Tornado's sales and marketing efforts have to date been focused on the relationships in the Network Equipment Vendor market. The Directors of InTechnology believe that significant benefits can be derived from leveraging its experience in sales and marketing to expand the sales approach through direct managed services to enterprise and via strategic global partnerships with handset manufacturers. · InTechnology has undertaken that any commercial arrangements entered into between it and Mobile Tornado will be on an arm's length commercial basis. Recommendation from the Board of Mobile Tornado The Directors of Mobile Tornado have examined fundraising options available to the Company given its current stage of development. The Directors have considered the size of the funding required to sustain and to further expand the Group's sales and development activities and the need for sufficient working capital. After careful consideration, the Directors of Mobile Tornado believe that the proposed investment from InTechnology is in the best interests of Mobile Tornado shareholders as a whole. The funds are required to support the Company's medium term growth plans and it is unlikely that short term sales targets will be met in the absence of such funding. Use of Funds The Directors of Mobile Tornado believe that the subscription by InTechnology will secure Mobile Tornado's financial position in the medium term. Mobile Tornado intends to accelerate its global marketing and extend its fixed-mobile convergence products. The net proceeds of the Subscription and the Placing are expected to be £3.8m and Mobile Tornado's Directors intend to use such net proceeds to expand the Group's sales and development activities, including the emerging hosted PTT services market, and to provide additional working capital. The Subscription InTechnology has conditionally agreed to subscribe for 80,000,000 new ordinary shares in Mobile Tornado at an issue price of 5p. The new ordinary shares, issued pursuant to the subscription will represent approximately 43.38 per cent. of the enlarged share capital of Mobile Tornado. Peter Wilkinson and Richard James, directors of InTechnology, will together also own approximately 14.91 per cent. of the enlarged share capital of Mobile Tornado in their personal capacities. The subscription agreement is conditional on the resolutions being passed at the Mobile Tornado EGM due to be held on 23 October 2006 and the new ordinary shares to be issued pursuant thereto being admitted to AIM by 24 October 2006 or such later date as the parties may agree (being no later than 8.30 a.m. on 30 November 2006). The agreement can be terminated by InTechnology prior to Admission on the occurrence of certain events, including a material adverse change in the financial condition or prospects of the Company. Peter Wilkinson, Chairman of InTechnology, commented: "We are very excited by this investment as it further enhances our exposure to the new and rapidly growing market for converged voice and data services. Today's deal provides us with access to the very strong technical resource and IP within Mobile Tornado as well as a foothold in the rapidly growing Push to talk market." Enquiries: InTechnology plc 01423 850 000 Peter Wilkinson Financial Dynamics 020 7831 3113 James Melville-Ross / Hannah Sloane END London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. ©2006 London Stock Exchange plc. All rights reserved |
Posted at 08/10/2006 02:55 by thailand43 philjeans- I'm referring to the logic/ fit of the purchase to ITO, if in fact it is anything more than old mates helping each other out with cash at hard times that I suggested in my recent post. I couldn't access your linked SE announcement but maybe it was similar to the AFX of the 25th:"InTechnology buys 80 mln Mobile Tornado shares for 4 mln stg LONDON (AFX) - InTechnology PLC said it bought 80 mln shares in Mobile Tornado Group PLC for 4 mln stg. The purchase will be financed from InTechnology's existing cash. InTechnology said its investment in the mobile data software company will complement the activities of its managed services unit. In the six months to December 2005, Mobile Tornado made an operating loss 56,951 stg and had net assets of 868,441 stg, of which 616,747 stg was in cash." I'm making the point that ITO states that the investment will,"..complement the activities of it managed service unit." This explains nothing and when I say that the bid is 3p it would probably be nearer 0p of ITO tried to dump the stock and run so we may have blown all 4m on a purchase that looks very questionable at this stage. Believe me that I am on your side as a holder but if it is not profit warnings that plague the ITO share price it is poorly justified/ executed strategies that may include this Mobile Tornado deal. We are just recovering from -Early expansion into Europe with managed storage and costly subsequent withdrawal -Purchase of Allasso security distributors in Europe and recent costly retreat If only they would stick to successfully optimising sales and development of the core managed storage services, hopefully soon without the distraction of the distribution business, then I think the share could fly. |
Posted at 04/10/2006 18:04 by philjeans ITO is a 23 year old, well established AIM listed company providing IT solutions in all its forms to businesses, but focussing on data storage. It has 360 staff, now virtually all UK based.Basically, despite margin pressure, the UK part is profitable but they got into trouble with the european side, consistently losing money and wasting management time and focus. The euro division was sold in March this year, freeing up much needed human resource and capital - the net proceeds of approx £19M will/has cleared all uk borrowing and there is £12M net cash already in the balance sheet. The business works very closely with IBM, Nortel, Symantec, Check Point and has won many awards. Turnover is substantial at £215M and management are now determined to gain more profitable new business and increase margin on existing/renewal contracts - something that is already happening. With the euro business sold (it lost them £9M last year!) the turnaround in profit this year will be significant - last year's figures also included exceptionals of several million for complete re-organisation of the various uk sites and divisions. Debt servicing has also now disappeared. The share price has failed to recognise the full impact of the cleaner, sharper UK business and continues to reflect the difficult and loss making past few years. A very positive report from the Chairman in June was followed up with an AGM statement that Q1 results were in line with expectations. ITO have a small but growing VOIP division and last week spent £4M of their cash pile buying 43% of Mobile Tornado, an aim listed mobile data software company with good growth prospects to "complement the activities of its managed services unit". A good time to buy ITO I believe with the bad news already dealt with and the better times ahead, not yet fully revealed, or anticipated in the current share price. Directors hold large stakes - Peter Wilkinson CEO 57% I hold. DYOR etc. |
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