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MSG Milestone Grp

0.145
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Milestone Grp LSE:MSG London Ordinary Share GB0033127910 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.145 0.13 0.16 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Milestone Group Share Discussion Threads

Showing 1601 to 1625 of 2375 messages
Chat Pages: Latest  71  70  69  68  67  66  65  64  63  62  61  60  Older
DateSubjectAuthorDiscuss
19/1/2008
07:59
Tx Saffy

let's hope they get the Iflex site online & buzzing by the late Spring/Summer
Good luck Jamie & Deborah!

andrbea
18/1/2008
16:09
no, i think there is still room.. as a matter of fact was having a discussion with a few friends.. one of which whose company is now worth millions from an initial outlay of around 200k.. that is in VoIP.. but there is still room in the social networking arena..

the best form of advertising is ..."word of mouth" ..

lets wait and see..

eh..

saffy..

safman
18/1/2008
14:56
is IFlex is the first & last investment by msg
nothing else to look forward to in 2008?

if I look at blnx's share price (suffering), one wonders where the 'big' revenue is going to come from (for a web Tv/user's community website)

IFlex may be a novel approach, that there so many providers out there (hot competition)
And YouTube/My space seem to have got it cornered IMO


Any views?

andrbea
17/1/2008
20:13
Keeping it in the family!
double6
16/1/2008
10:45
Greetings safman and k123

FWIW I still hold a few MSG and agree that the RNS was good.
Looks like 'buy on rumour sell on fact' applied initially
but longer term seems interesting.

maytrees
16/1/2008
10:29
morning..

theflex.. beta ver released in 1st quarter..having a degree in computing helps a little.. would like to c it live..

10K online max..

good luck..

saffy..

safman
15/1/2008
17:00
yep imo.. currently capped at 700K.. 500K repayable by 2010.. will have to await and see the flex website when up.. content for artists et al... overall user content.. i know there is blinkx.. and other content driven websites..

i'll take a further look tonight.. (i reckon v. good news if they can get this to work)

cheers

saffy..

safman
15/1/2008
16:56
Happy to be here,good news imo.
It's all about web now and 500k cheap money and only 27m shares.
I think they will try to buy most of few shares available.
say max 5 to 7m,some will sell at 4 to 5p.
I will not ,i think this will fly much higher.

k123
15/1/2008
16:38
yep early stage web tv.. i think also that 29% stake from l bloom will add perhaps alittle motivation of getting this to work.. that also from the share price perspective.. interesting developments and not bad at all for shareholders..\

all imho..

good luck..

saffy..

safman
15/1/2008
16:33
guess we'll have to see what the press makes of it

visited the site
looks pretty snazzy

IMO will depend on (in what numbers) young people sign up to use the beta-version site, and exchange views on their favourite artistes. Mr Bloom was successful in earlier projects (eg the Cafe de Paris nightclub).

...and it's not just pop groups/upcoming musicians, but actors, models, fashion designers and film makers; to 'showpiece' and 'trade' their creative abilities.

andrbea
15/1/2008
16:33
Do you think this will drift now
estates
15/1/2008
16:29
thank's, why the drop.
estates
15/1/2008
16:27
good rather than bad.. they have a acquired a company.. early stages yet but 80% for a nominal sum.. its not bad at all.. and they have preserved the equity..in MSG..i.e no dilution..

imho

saffy..

safman
15/1/2008
16:25
layman's terms good or bad?
estates
15/1/2008
16:21
v illiquid..halifax offering 15K @ 2.5P..

Laurence bloom is the JM finns holder acquiring a 29% stake.. no dilution..

saffy..

safman
15/1/2008
16:17
can only by 10000 through selftrade, why the drop?

regards

newbie

estates
15/1/2008
16:16
the beta version out soon..80% acquired for a nominal sum..so no dilution 500K unsecured loan payable by 2010.. ..not bad at all.. digital and content entertainment..

saffy..

safman
15/1/2008
15:57
i've had a brief glance of that.. well, the JM Finn scenario has been the brother of jamie bloom.. it looks interesting with 500K of unsecured facilities and no dilution..

must read further..

saffy..

safman
15/1/2008
15:53
Milestone Group PLC
15 January 2008


Milestone Group PLC

MILESTONE ACQUIRES THE FLEX



AIM listed Milestone Group PLC ('Milestone', the 'Group' or the 'Company')
announces the conclusion to its current review of strategy with the Group
focusing on exploiting opportunities in the converging broadcasting and digital
media sectors.

Milestone has acquired 80 per cent of the issued share capital of The Flex
(International) Limited ('The Flex') from Jamie Bloom for a nominal
consideration of £100. Two of the directors of The Flex, Jamie Bloom and
Deborah White, are being appointed to the Board of Milestone as non-executive
directors with immediate effect.

The Flex is an early-stage 'web TV' business in which Laurence Bloom, a
significant shareholder in Milestone and the brother of Jamie Bloom, is a
founder shareholder. Ryan Bloom, the son of Laurence Bloom, is the co-founder
and managing director of The Flex.

Milestone further announces it has entered into an 'arms length' loan
arrangement with Jamie Bloom in order to provide a facility of £500,000 for
the newly enlarged Group on normal commercial terms.

The Flex was established in late 2006 with a view to sourcing original
specialist video and audio content which it intends to distribute direct to
consumers via the internet. It has spent much of the past year developing a
web TV platform, to be branded 'The Flex', which is due to launch beta trials
in early 2008.

Milestone's independent Non-executive Chairman, John Sanderson, said:

'Milestone's original intention was always to become a supplier of media to
whichever platforms emerge from the convergence of broadcasting and
communications technologies. In my annual report statement last year,
I explained that the Board was exploring opportunities to position the
Company as a dedicated digital media group, in line with its decision to move
away from its exposure to traditional media platforms. This process has taken
longer than originally anticipated involving the examination of a number of
proposals. Ultimately, the Board unanimously agreed that The Flex offered the
mixture of potential risk and reward which we were looking for from an
investment in a digital platform.

'This deal has been made possible thanks to Jamie Bloom agreeing to make a
majority shareholding in The Flex available to the Company for a nominal
consideration. This is a good deal for Milestone shareholders. The Flex is a
most interesting opportunity, led by visionary management, in a high growth
sector.

'Milestone now enters a new phase in its development as a broadcast service
provider. Whilst the internet is now an established and popular platform for
the distribution of both video and audio the key focus for The Flex will be to
generate user demand for its own creative content and to monetise this for the
benefit of the Group. The key selling point of The Flex is that it will be
able to offer new talent the benefit of professional production, management
support, event services and promotion as well as an internet distribution
platform.

'I would particularly like to take this opportunity to welcome our two new
Board members, Jamie Bloom and Deborah White. Both Jamie and Deborah each bring
a wealth of business development and corporate finance experience to the
Company and I am very much looking forward to working alongside them.

'This acquisition brings to a conclusion the Board's current review of strategy.
The Board will continue to explore appropriate opportunities in the future to
develop the Group by organic growth and targeted acquisition.'

The Flex initially intends to offer programming which targets a core youth
audience such as lifestyle, football, extreme sports, fashion, talent and new
music. One of the aims of the platform will be to provide a social 'marketplace'
enabling upcoming musicians, actors, models, fashion designers and film makers
to 'showpiece' and 'trade' their creative abilities. Content produced for The
Flex will be available to anyone in the world with a suitable internet
connection. Although currently UK based and particularly targeted at a UK
audience, The Flex ultimately aims to expand to provide a global platform.

* FINANCIAL SUMMARY *

The Flex management team have been primarily focused in 2007 on developing the
business plan and working towards launch. To date, The Flex has incurred costs
of approximately £150,000 associated with the development of the platform. This
has been funded by capital injections by The Flex shareholders and is treated as
a loss in the (unaudited) management accounts. The Flex currently has net assets
due to capital injections although it is anticipated further funding support
will be required in 2008. The Flex gross assets, in the unaudited management
accounts at 20 December 2007, were approximately £190,000.


The Board intends to make further notifications to the London Stock Exchange as
The Flex progresses during the course of the coming year.


* TERMS OF TRANSACTION *

The Company has entered into an agreement dated 15 January 2008 to acquire
6,400,000 A ordinary shares of £0.01 each in The Flex from Jamie Bloom for the
nominal consideration of £100. This holding represents 80 per cent of the total
issued share capital of The Flex. The nominal consideration of £100 reflects the
current concept (pre-revenue) status of The Flex and Jamie Bloom's view that
the new business will benefit going forward from being part of a listed entity.

* LOAN ARRANGEMENT *

The Company has entered into a loan arrangement with Jamie Bloom dated 15
January 2008 in order to enable The Flex to launch its new platform and to
provide working capital for the enlarged Group. The facility of £500,000 is
unsecured and can be drawn down by request of the Company over the coming 18
months. Any use of the facility will bear interest at a rate of 3 per cent per
annum above the Bank of England base rate. No other charges are payable in
connection with the facility including no penalties for early repayment. All
loans and interest accrued under the facility become repayable in full in
December 2010.

* RELATED PARTY TRANSACTION *

Laurence Bloom, the brother of Jamie Bloom, is currently the largest single
shareholder in Milestone with a beneficial interest in 28.06 per cent of the
Company's total issued share capital.

Laurence Bloom and Jamie Bloom, their family and associates are minority
shareholders in The Flex, a company in which Milestone has acquired a majority
shareholding as set out above. The Flex employs Ryan Bloom, the son of Laurence
Bloom, as its managing director and also currently rents office space in
London's Victoria ultimately owned by Laurence Bloom.

In addition Jamie Bloom has entered into a loan arrangement with Milestone, the
details of which are set out above.

The Directors believe that the acquisition of the majority shareholding in The
Flex and the terms of the loan facility to the Company from Jamie Bloom have
been made at arms' length and on normal commercial terms. Having consulted with
the Company's nominated adviser, Arden Partners PLC, the Directors consider that
all of these arrangements are fair and reasonable so far as shareholders in
Milestone are concerned.


* JAMIE BLOOM *

Jamie Bloom has 30 years experience in the leisure and entertainment industry.
From 1999 to 2002 Jamie served as Managing Director of the Bellhaven Group,
where he was responsible for the launch of its hotel and conference centre.
Jamie's previous experience spans the successful launch of Soho's Cafe de Paris
nightclub (sold for £4m in 2002) to the establishment of a chain of American
themed restaurants. Jamie started his entrepreneurial career at the Downtown
Group in 1965 which he developed into a chain of 40 retail outlets including
Kensington and Carnaby indoor markets.


* DEBORAH WHITE *

Deborah White is an independent financial adviser with significant experience in
capital raising, new launches and business development. Deborah is currently an
executive director of Silver Planet Life Investment Taxation Solutions, a
specialised financial advisory group dealing with high level investment advice
and capital raising. From 1999 to 2006 Deborah was responsible for building
Inter-Alliance City Limited from scratch to an annual turnover in excess of £3m
ultimately leading to the creation of the major Millfield Group advisory
practice. Deborah has spent the past year engaged as a financial consultant to
The Flex in which she is also a director and shareholder.


* MANAGEMENT *

In addition to Jamie Bloom and Deborah White, the Board of Milestone continues
to comprise of John Sanderson, Non-executive Chairman; Brian Chester, part time
Finance Director and Andy Craig, Non-executive Director. The current
arrangements are designed to ensure continuity of management. The Board intends
to review its structure and corporate governance as The Flex continues to
develop.


* ONGOING LOCAL TV BUSINESS *

Milestone continues to operate its ongoing local television division. Milestone
recently joined forces with other interested groups to launch 'United for Local
Television', a new campaign group which is lobbying for local television
channels to be granted guaranteed access to the Freeview platform, rather than
having to bid for terrestrial carriage against other services as is currently
proposed by Ofcom (the UK communications regulator).

Ofcom has recently announced that existing analogue local television operators,
such as Milestone, may be able to vary their licences to provide digital
terrestrial transmissions on a trial basis in the run up to digital switchover.
Whilst awaiting further details, Milestone cautiously welcomes this
announcement. In the meantime, the Company is operating its existing local
television channels in Oxford and Southampton on a skeleton staffing and low
turnover.

It is intended in the coming months to exploit synergies between The Flex and
Milestone's existing television operation with The Flex utilising the Company's
Oxford based production facilities and supplying some new broadcast content.


* MARKET BACKGROUND *

Research published by Ofcom in December 2007 suggests the UK now has a higher
share of internet advertising spend than any of the eight major countries it
has surveyed, standing at 14.4 per cent of total advertising. In addition, a
greater proportion of UK internet users (39 per cent) visit social networking
sites than in any other key European country surveyed.


* OUTLOOK *

The Board prudently anticipates modest revenues following the beta launch of
The Flex in the first quarter of 2008. The main sources of revenue in the medium
term are anticipated to be site advertising, sales of audio and video files,
merchandising and the licensing of content to third party distributors. The
Board will continuously review the progress of The Flex and to what extent any
additional fundraising may enhance value for the Company's shareholders by
enabling a faster roll-out of the new platform.


FOR FURTHER INFORMATION:

Milestone Group PLC
Brian Chester Tel: 07776 302 274

Arden Partners PLC Tel: 0207 398 1632
Richard Day / Adrian Trimmings


* REGULATORY INFORMATION *

This announcement contains certain information required to be disclosed in
respect of Jamie Bloom and Deborah White's appointments in accordance with
Rule 17 and Schedule Two paragraph (g) of the AIM Rules.

*Full name*
James Howard Bloom

*Date of birth*
1 March 1950

*Current interest in shares in the Company*
None but 7,746,698 (28.06 per cent) held by Laurence Bloom (the brother of
James Bloom) through J M Finn Nominees Limited

*Current directorships / partnerships*
Mainline Properties Limited, Varmeer Properties Limited, Millennium
Merchandising Limited, The Flex (International) Limited

*Past directorships / partnerships (in the previous 5 years)*
Bellhaven Limited, Dunraven Limited, Digiworx Entertainment Limited, Network
Corporate Holdings PLC, Network Directors Limited

Save as disclosed in this announcement, Jamie Bloom has confirmed that there
are no other disclosures required pursuant to Schedule Two paragraph (g) of the
AIM Rules.

*Full name*
Deborah Jane White

*Date of birth*
17 July 1965

*Current interest in shares in the Company*
None

*Current directorships / partnerships*
Silver Planet Life Investment Taxation Solutions Limited, Silver Planet (City of
London) Limited, The Flex (International) Limited

*Past directorships / partnerships (in the previous 5 years)*
Inter-Alliance City Limited

Save as disclosed in this announcement, Deborah White has confirmed that there
are no other disclosures required pursuant to Schedule Two paragraph (g) of the
AIM Rules.

saffy..

safman
15/1/2008
10:21
Not easy to buy,some news must be here soon?I hope.
anybody try to buy 100k?

k123
15/1/2008
10:14
morning saffy,

I am still here!will wait a bit longer.
have been looking at the shareholders list,never seen anything like this?
I think we few small holders have created a big upset?

k123
15/1/2008
09:48
morning...

looks like medium-longer term holders left.. including me..eh.. 700K mkt cap and big holders..

good luck..

saffy..

safman
11/1/2008
10:31
off-topic

william47, check out the san thread

andrbea
10/1/2008
14:02
yep..also a tiny mkt cap of 800K with bigger holders still in the fray..

saffy..

safman
10/1/2008
13:28
saffy-Thanks-I agree it is not possible,some shares are sold in the past few days so why not?
I think they have a party interested to buy what is made available in 3.5p levels.
I was given a chance to buy 200k @4.2 !and i said no thanks.

k123
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