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| 0.00 | 0.00% | 0.125 | 01:00:00 |
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Posted at 18/9/2003 19:58 by guydaynes a harrisAs I said, it's not straight forward, but as I understand it the situation is as follows: Bella Films ( main stakeholders and directors are Weinert and Crisman ) stated the project. They have ( or will - I'm not entirely sure of the timing ) transferred their interest in Bella Films for a 34% stake in Newco LLC which will then undertake the project. A further 15% of Newco LLC has / will be sold to third party investors in order to raise at least $600k The remaining 51% of Newco LLC is owned by Newco Inc, which in turn is wholly owned by Bella Media PLC This is as it was ( or at least by my understanding ) some 2 months ago. As the project advances then no doubts things will change. Re Edgar Bronfman Senior's role... Time will tell, but my own thoughts are that 1) Having someone of his standing and expertise will no doubt help open doors that would otherwise closed when it comes to negotiating deals, and 2) He's got seriously deep pockets - and the one thing Bella Media will need before they build more cinemas is cash. I'm pretty sure he will buy a lot of the shares currently available to be issued. And if he doesn't I'll bet he knows others who have similarly deep pockets, and 3) Having him on board certainly will raise the profile of Bella Media to potential investors. Worked for me, and City Equities anyway! Finally, what the hell's going on? Not sure what you meant by that. Final details are due to be worked out in the next month or so regarding the Springfield project. Maybe then it's time to start on number 2. I understand they have already indentified a number of locations, including at least one in Europe and several in China. I agree, it's looking rather good. But we need to be patient - don't forget there is no income forecast for the current financial year ending 30 June 2004. Not for widows and orphans as they say. Hope this helps Guy |
Posted at 18/9/2003 18:36 by guydaynes For those wanting to know who they are, go to www.cityequities.comA snippet from the site... "You might be asking, "Why do I need to become a customer of City Equities Limited? What's in it for me?" Well, there are several reasons, ranging from excellent customer service to high-quality equities research. But there are two reasons that really stand out. Firstly, because we have significant buying power, we can act as an institutional investor; therefore we have access to numerous new issues and placings not available to the general public, our authorisation also allows us to arrange deals in investments, including corporate finance business. Secondly, because we act as 'principal' in the majority of deals we do for customers. This means City Equities Limited will identify a share through our research team, and then purchase stock in that company "IN SIZE". Because of the size of our purchase we receive a discount to the yellow strip price. The fact that City Equities Limited act as 'principal' means you will never pay commission on purchases recommended by us and we can also, on occasion, secure preferential discounts to the offer price for our customers. When selecting investments that we think will contribute positively to our customers' portfolios, we uphold a stipulation to only deal in UK-listed stocks either on the Official List or the Alternative Investment Market (AIM) and even this is dependent on there being no less than two active independent market makers in any situation. " Clearly they bought in at a significant discount ( I make it around 20% ) to the current price, but I wonder what price they sold to their clients at? Anyone care to let us know? I'll be pretty p1ssed if it turns out I could have saved 20% of the price of mine! You need to register to access the site, but it's free. Interestingly they publish a weekly Penny Share Review, though it appears to be a brief review of recent newspaper comment regarding stocks on their list. The Times article last week is mentioned. If this is all the research they pass on, then I'd suggest we here are way ahead of them. I can only assume paying clients ( I'm not one of them ) perhaps get more detail? That means that Bronfman is still to show his hand. Hopefully we will need the cash soon for the next cinema. So come on Edgar, get yer wallet out. You know you want to...! |
Posted at 18/9/2003 13:01 by a harris Because people still dont know about it. It may take till tomorrow to spread. Dont forget there is no investor interest in this company up until now. Its an unknown to the investment community in general. |
Posted at 10/9/2003 14:33 by guydaynes Just put this up over on iiiOkay - a few minutes to kill whilst I wait for the bus to the airport so here goes... As expected a fairly brief meeting with most directors except the "new guy" ( Edgar Bronfman ) present. i.e. Emmanuel Olympitis, Tim Le Druillenec, Clive Ng, Steve Crisman and Fred Weinert. Fred did most of the talking. As far as I'm aware, there were only 4 private investors present. The "usual suspects" - CiceroJ, Bluesbeater1 and Shed-o-Vision and of course myself. There was little to add that we perhaps didn't know already. Opening of the Springfield IMAX is still scheduled for next July. Other sites have been investigated but no clues given as to where. We also tried to find out how many they were thinking might be a reasonable target. The comment was that 4 or 5 might be reasonable within 3 years, but presumably it all depends on which sites are availbale and at what cost. Clearly the PCM board believe there are opportunities in Asia, and Italy was used as an example of a European country where there are opportunities. These cinemas cost some $6m to build, of which some $2m relates to the IMAX equipment. Typically around 50% might be from a construction loan, the rest cash presumably from issuing new shares. A board meeting following this one meant the informal chat was perhaps shorter than usual. Gotta dash just now, but to be honest there isn't much to add. For me it's just a case of letting them get on with it. Bronfman's arrival is still somewhat intriguing though! Guy |
Posted at 19/8/2003 07:51 by cableguy00 PARIS (AFX) - Vivendi Universal has put back the final bid deadline for itsVivendi Universal Entertainment business until Wednesday and is looking for offers in the range 12-15 bln usd, according to a report in La Tribune. Citing a source close to the matter the newspaper said the company aims to get a total of four firm bids. The original deadline was yesterday. The source said that apart from NBC, Viacom Inc and a consortium of investors headed by Edgar Bronfman Jr, Vivendi also hopes to see Liberty Media back in the bidding. ComCast Corp confirmed this week it is no longer interested in buying the assets. La Tribune said that of the 12-15 bln usd it hopes to raise, 2-5 bln should be in cash and include 2 bln of debt. The company hopes to announce exclusive talks or a final decision following its board meeting on August 26, the report said. paris@afxnews.com dl/jfr |
Posted at 01/8/2003 10:01 by spurrier Guy: Thanks for the feedback. I don't think the serious investors here would mind if you started a new thread with those two posts combined so that new visitors could always have them at the head of the discussion. It might stop the usual fat-headed questions and speculations.Good work! |
Posted at 31/7/2003 18:40 by guydaynes Mobilefuture EGM – Wednesday 30th July 2003All directors were present The formal part of the meeting was pretty short, perhaps not surprising given there were only a handful of private investors present. There was also the fact that the EGM was called for a specific purpose – to approve the new business and the Springfield project. Emmanuel Olympitis kicked off before handing over to Fred Weinert and Steve Crisman who talked a little more about IMAX films and the plans for Springfield. After a few questions and answers about the project and IMAX films we then moved onto the formality of voting, and the new business was born. As with previous PCM meetings, the directors talked informally both before and after the meeting, and as ever this proved to be more informative than the brief Q&A section. We got to see the plan for the Springfield site which they are hoping to open next summer, with July 4th being a target date. Others are in the pipeline – one in Europe ( but they weren’t giving much away as to where ), and others in Asia as has already been mentioned. How quickly they are hoping to expand the empire is anyone’s guess. Clearly a number of potential sites has been looked at, but we can only guess at the level of interest. Presumably priorities will now focus on getting the Springfield project going. So, no “hot news” of what we can expect next. But of course, I never thought there would be. News must always come through the official channels. But it did give the opportunity for us to meet the “new guys” and to get a better insight into the team and what they have in mind. To coin a phrase we have perhaps heard before… “I look to the future with optimism and confidence.” |
Posted at 15/7/2003 07:22 by feelinlucky RNS Number:5483NMobileFuture PLC 15 July 2003 FOR IMMEDIATE RELEASE 15 July 2003 MOBILEFUTURE PLC ("MobileFuture" or the "Company") Proposals for Change of Business Strategy, Investment in Bella Films LLC and Incentivisation of Certain Directors Following the announcement by the Company on 19 June 2003 of new board appointments together with a change of strategy, the Board is now pleased to announce, inter alia, proposals subject to shareholder approval, for: * the development, construction and ownership of IMAX and other large format destination cinemas to be established within well established tourist, recreational or cultural locations in the USA and potentially China, Europe and Latin America; * the creation of destination large format films to be shown at these and other IMAX cinemas and to be sold to television and other networks around the world; * an investment of up to $1,275,000 in an IMAX cinema development project in Springfield, Missouri, USA currently being undertaken by Bella Films LLC in order to implement the first stage of the proposed new business plan; * the establishment of incentivisation arrangements for the recently appointed Executive Directors, Fred Weinert and Stephen Crisman. Commenting on the proposals, Emmanuel Olympitis (Chairman) said, "This investment will mark the beginning of a new and exciting chapter in the life of MobileFuture under the leadership of a management team with an excellent track record." By focusing on the development, construction and ownership of large format IMAX destination cinemas and the creation of documentary films to be shown at such cinemas, your Board believes that MobileFuture will be in a position to take advantage of the opportunities both in the US and other countries. Fred Weinert and Stephen Crisman both bring to the Company considerable relevant experience in these areas, and the Board believes that it is important to ensure that they are properly incentivised. Since the announcement of 19 June 2003 considerable progress has been made by Mr Fred Weinert who joined the Board as Chief Executive Officer in advancing negotiations to secure an equipment leasing agreement with IMAX Corporation and a ground lease with the American National Film and Wildlife Museum - Wonders of Wildlife in relation to a site in Springfield, Missouri, USA on which it is proposed to construct and then operate a new 350-seat 3D IMAX theatre (the "Springfield Project") as more fully detailed below. Subject to Shareholder approval, it is now proposed that MobileFuture invests up to US$1,275,000 (through Newco Inc) in return for a 51 per cent. equity participation by Newco Inc in Newco LLC. These proposals constitute a reverse takeover for the purposes of the AiM Rules, as implementation of the proposals constitute a fundamental change in the business of the Company. In order to comply with the AiM Rules, the Company must seek Shareholder approval for the transaction and publish an admission document as the existing trading facility will be cancelled if Shareholders approve the proposals. Certain elements of the proposals also constitute a related party transaction for the purposes of the AiM Rules. Background to the Proposals The Board has identified the business of developing and constructing IMAX and other large format destination cinemas and the production of large format destination films to be shown at such cinemas as a niche market which they believe presents a number of exciting opportunities in the "edutainment" (education and entertainment) sector world-wide. It is estimated that during the past 30 years, over 500 million people have seen an IMAX film and that, currently, an average of 75 million people each year experience an IMAX film at one of 230 cinemas located around the world. Of the various theatres in the IMAX network, the most successful are those located adjacent to or within a family-oriented, cultural, education and recreational attraction ("destination theatres") which also feature a film related to the particular destination, for example, the Grand Canyon and the Kennedy Space Center. Proposed Investment in the Springfield Project Subject to the passing of the Resolution by Shareholders at the EGM, it is proposed that the first stage in implementing the Company's new business plan will be the investment of up to US$1,275,000 in Newco LLC (through Newco Inc) in return for a 51 per cent. equity participation by Newco Inc in Newco LLC (the "Proposed Investment"). Newco LLC will be the vehicle into which the work in progress and net assets of Bella Films LLC which relate to the Springfield Project will be transferred and which will then undertake the Springfield Project. It is proposed that a 34 per cent. interest in Newco LLC be issued to Fred Weinert and Stephen Crisman and the other founder and management of Bella Films in consideration for the development of the Springfield Project to date and the work in progress and net assets of Bella Films, all of which relate to the Springfield. It is intended that the remaining 15 per cent. interest in Newco LLC will be subscribed for by third party investors for a minimum of US$600,000 to raise the further equity funds needed in relation to the Springfield Project. The investment by the Company in Newco LLC (through Newco Inc) will be limited to US$1,275,000. The Company will seek to protect the manner in which this investment can be used by providing for phased drawdown of the investment from Newco Inc to Newco LLC against the achievement of project milestones. The detail of these arrangements has still to be agreed between MobileFuture, Newco Inc and Newco LLC. Further, successful completion of the Springfield Project is dependent upon Newco LLC obtaining a construction loan of approximately US$3,500,000 from a US bank and raising a minimum of US$600,000 of equity from third party US investors. The project currently being undertaken by Bella Films is its proposed acquisition of a site on which to construct and then operate a new 350-seat 3D IMAX theatre in Springfield, Missouri. The specific location of this proposed "flagship" theatre is on the campus of Bass Pro, adjacent to its 300,000 sq.ft. flagship store, which receives approximately 4,000,000 visitors per year and is also next to the new American National Fish and Wildlife Museum - Wonders of Wildlife. Bass Pro is a chain of hunting, fishing and outdoor retail outlest featuring live fish tanks, cascading waterfalls and in-house restaurants. The group currently operates 16 sites in the USA with another 7 in development, including one in Toronto, Canada. The Springfield site is also the group's corporate headquarters. The Springfield Project is expected to become operational in the summer of 2004. The Wonders of Wildlife Museum was established by John L. Morris, who is also the founder of Bass Pro. The museum aims to educate visitors about conservation and the heritage of hunting and fishing. The Directors believe that the IMAX theatre, Bass Pro and the museum will be complementary to each other in terms of attracting visitors in common and that the IMAX theatre will benefit from its association with these and other leisure destinations and its proximity to a significant local metropolitan population. Bella Films has reached an agreement in principle with IMAX in respect of the equipment lease for the Springfield Project. In relation to the proposed site itself, the terms of a 30-year ground lease plus an option over a 20 year extension have been agreed, in principle, between Wonders of Wildlife and Bella Films and, subject to the passing of the Resolution, contracts are expected to be signed between Wonders of Wildlife and Newco LLC in August 2003. The detail of the Proposed Investment remains subject to finalisation and documentation. Accordingly, the Board must stress that whilst the proposal above reflects the current agreement in principle, the structure and detail may change as the proposal moves to the execution stage. The Board has resolved however that if the Proposed Investment does not proceed in substantially the manner envisaged in this document then they would not proceed any further with it. Incentivisation of Fred Weinert and Stephen Crisman and Related Party Transaction In addition to their salary packages, Newco Inc intends, subject to Shareholder approval, to issue, for a nominal consideration, up to 15 per cent. of the equity of Newco Inc to Fred Weinert and Stephen Crisman. It is proposed that the US Directors will be given the right to convert their new shares in Newco Inc, for such number of new fully paid Ordinary Shares in the Company as would, if converted today, give them 15 per cent. (7.5 per cent. each) of the current fully diluted Ordinary Share capital of the Company (assuming that any convertible instruments had been exercised and Ordinary Shares issued). It is proposed, however, that such conversion right would only be exercisable to the extent that it did not trigger a mandatory bid under Rule 9 of the City Code on the part of these two Directors and Pacific Media who are currently regarded by the Panel as acting in concert. The Board believes that these proposals provide a suitable incentivisation arrangement for the US Directors who are to be crucial to the successful implementation of the new strategy. The proposed investment in Newco LLC by the Company (through Newco Inc), the issue of a 15 per cent equity holding in Newco Inc and the associated conversion rights ("Related Party Proposals") are a related party transaction for the purposes of the AiM Rules. This occurs by virtue of the fact that Fred Weinert and Stephen Crisman are Directors. With the exception of Fred Weinert and Stephen Crisman, who are interested in the Proposed Investment, the Directors consider, having consulted with Beaumont Cornish, the Company's Nominated Adviser for the purposes of AiM, that the terms of the Related Party Proposals are fair and reasonable insofar as Shareholders are concerned. Future Funding Requirements of Newco LLC Successful completion of the Springfield Project is dependent upon Newco LLC obtaining a construction loan of approximately US$3,500,000 from a US bank and raising a minimum of a further US$600,000 of equity from third party investors. The Company will seek to protect the manner in which its investment of up to US$1,275,000 can be used by including phased drawdown of these funds by Newco LLC against the achievement of project milestones. Future Funding Requirements of the Company Given the size of the Proposed Investment in the Springfield Project and the remuneration expenses explained above and in order to provide it with the flexibility to fund the development of additional IMAX theatres in line with the Company's proposed new business strategy, it will be apparent that the Company will need to raise significant further funds before committing to any such future projects. Financial Information The Report and Accounts, for the year ended 30 June 2003, are currently being prepared and audited and will be circulated to Shareholders between the date of this announcement and the EGM. Given that the Company has not traded since the Company Voluntary Arrangement, the Report and Accounts will show, as at 30 June 2003, no material assets other than cash balances of approximately #1,125,000 (out of which up to US$1,275,000 will, as described above, be allocated for investment in the Springfield Project and no material liabilities other than #75,000 of convertible loan stock. Extraordinary General Meeting A circular containing full details of the Proposals and a notice of Extraordinary General Meeting to be held on 30 July 2003 has been despatched to Shareholders. Copies are available from the offices of Beaumont Cornish Limited, Georgian House, 63 Coleman Street, London EC2R 5BB. Application for Admission to AiM Between the date of this announcement and the EGM the Company will submit the Admission Document to the AiM team of the London Stock Exchange. Copies of the Admission Document will be available from the offices of Beaumont Cornish Limited, Georgian House, 63 Coleman Street, London EC2R 5BB. Enquiries: Emmanuel Olympitis, MobileFuture on: 020 7235 9686 Roland Cornish, Beaumont Cornish Limited on: 020 7628 3396 Peter Redmond, Merchant Capital PLC on: 020 7332 2200 |
Posted at 30/6/2003 06:11 by sagem With the new management and their ideas are about to explode..........thiI dont think investors out their have realised the huge potential that this company now has. The name will be changed to a more appropiate name. This low price will not last much longer but please do your own research. Pacific Media has a big involvement with this company.I am not plugging this share only trying to highlight the potential to investors who are not aware. |
Posted at 22/6/2003 10:41 by tonyleongson who are these wi-fi technology firms??????????"The first victims of all the hype are likely to be investors - yet again. Shares in wi-fi technology firms have soared in recent weeks." -------------------- Wi-fi will be 'next dot.com crash' By Tim Weber BBC News Online business editor Hopes that the roll-out of wireless broadband networks - so-called wi-fi hotspots - will result in a profits bonanza will be dashed, the technology consultancy Forrester has warned. "With all the hype today about the rollout of... public hotspots, it's as if the dot.com boom and bust never happened", said technology analyst Lars Godell. Wi-fi equipment is selling fast - but will it stay at home or go on the road? Currently there are about 1,000 public hotspots available throughout Europe. Installed in airports, companies, cafes or hotel lobbies, they allow users of laptops and handheld computers to surf the internet or send and receive data at broadband speeds - provided they have the right wireless equipment. Rival technology consultants IDC recently predicted that by 2007 this market will have grown to 32,500 locations generating revenues of $1.4bn (£800m). But Forrester argues that the Wi-fi market is facing natural limits. Wi-fi is for computer users on the move, but only 10% of Europeans currently own a lap-top, and numbers are expected to rise only slowly. At the same time, hotspot coverage will be very patchy for years to come. Transmitters have a reach of just a few hundred metres, and unlike users of mobile phones, people with wi-fi equipment will find it difficult to roam from one hotspot to another, because of incompatible billing systems. Finding a business model In many ways, wi-fi is already successful, with more and more homes and offices cutting the cable clutter and using wireless routers to link up their computers and connect to the internet. The Toshiba 'hotspot in a box' promises to be a cheap wi-fi solution Now, however, wi-fi is going public. During the past couple of months, the UK has seen a string of high-profile launches of Wi-fi hotspot systems. But will this result in just a few hotspots, with patchy coverage and the need to take out multiple subscriptions to move around? Or will we have wi-fi hot regions that are as convenient to use as mobile phone networks? And most importantly, will all these new hotspots generate enough revenue to pay for themselves? Hotspot in a box Computer maker Toshiba says its new wireless solution will "really bring wireless connectivity to a mass audience at... a low-cost price point". It's called "hotspot in a box", and Toshiba has linked up with former telecoms monopolist BT to sell the product. Any business, cafe, hotel or golf course with a broadband connection can now buy the basic equipment to set up a public hotspot for just £400, including the link-up to a centralised billing system. Are enough people lugging around wi-fi enabled computers to make hotspots pay? George Bartley, a consultant with the Cordless Group, calculates that these systems will pay for themselves if a hotspot owner can persuade just 27 users a month to pay £5 for a one-day subscription to use the service. Extra revenue - for example more double decaf lattes sold - comes on top of that. By the middle of next year, BT hopes to have 4,000 hot spots in place across the UK. Currently there are just 400 in the whole country. On a smaller scale a chain of internet cafes, Internet Exchange, has started rolling out wi-fi access in its outlets. Another venture, the Cloud, wants to go large and install wi-fi terminals in thousands of pubs, piggy-backing on the entertainment centres operated by Leisure Link in chains like JD Wetherspoon, Scottish and Newcastle, and Mitchell and Butlers. But analysts disagree whether such ambitious roll-out plans will deliver the broad wi-fi coverage needed to attract customers in larger numbers. 'No licence to print money' Currently, hotspot users are at best "occasional users" say the IDC experts, but they confidently predict that as soon as access prices fall and hotspot services become ubiquitous, many people will become subscribers. New wi-fi solutions promise a quick set-up and easy revenues It can be done. Zamora, a medium-sized Spanish town of 65,000 near Madrid, already boasts 75% wi-fi coverage. In the UK Andy Bass, general manager of Toshiba Information systems, hopes that demand will be driven by the launch of wi-fi enabled handheld computers and a new generation of laptops with wi-fi enabled microprocessors like Intel's Centrino. And once Intel's marketing machine kicks in and promotes wi-fi mobility at a large scale (reportedly to the tune of $300m), enough consumers may be persuaded to try true internet access on the go. The analysts at technology consultancy Forrester, though, have grave doubts about such scenarios. The vast majority of wi-fi users will stick to their home networks, they say. And even the IDC experts warn that hotspots are "not a license to print money". "What we're hearing right now are the promises of fame and fortune typical of an early deployment phase", says Keith Waryas, a wi-fi expert at IDC and warns that "this market is still exceptionally young and rife with uncertainty". Fighting over the revenue Only a few hotspots will have enough traffic to generate large revenues. George Bartley at Cordless predicts that in a wi-fi enabled UK just 15 to 20 places - like airports or train stations - will snap up 40% of all wi-fi revenue. Hotels for business travellers in about 1,500 locations will account for another 40% of revenue. About 17% of income will go to another 3,000 sites, while at the bottom end some 30,000 hotspot owners will fight for the remaining 3% of the wi-fi profit cake. If the pessimists are right, many wi-fi hotspots may go the way of the Rabbit, the cheap but ill-fated UK telephone network that relied on a patchy network of short-range base stations. And then there is the ever present threat of third-generation mobile phone networks, which promise mobile road warriors high speeds in central locations and near-global coverage at lower speeds. The first victims of all the hype are likely to be investors - yet again. Shares in wi-fi technology firms have soared in recent weeks. But somebody has to make streams of money to justify such high share prices. At the moment, cash is coming in as a trickle. |
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