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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Nettworx | LSE:NTWX | London | Ordinary Share | GB00B0TLVX30 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.625 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 6.625 | GBX |
Nettworx (NTWX) Share Charts1 Year Nettworx Chart |
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1 Month Nettworx Chart |
Intraday Nettworx Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 20/2/2009 | 14:10 | The NETTWORX Thread | 32 |
| 05/12/2006 | 15:04 | cash shell | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 26/9/2008 16:45 by elgordo Glenn - One day it might be interesting, but it's been a darned long wait so far. In the meantime, you're right that the cash is a good prop for the share price (cash £8.7m, market cap around £5m). |
Posted at 25/6/2008 22:10 by elgordo 3 business day left now, or I guess the company gets suspended. Maybe we're heading for a wind-up and distribution of funds? I'd be pretty content to get back 7.8p (see post 25 above) less wind-up costs per share.Anyone else out there interested? |
Posted at 11/6/2008 13:42 by elgordo I know I'm just talking to myself here, but... I've just noticed that NTWX still hasn't released its final results for the year to end-December. To comply with regulations, these need to be published no later than 6 months after the end of the reporting period, so should be out in the next 20 days. I wonder what's taking them so long? |
Posted at 14/4/2008 20:27 by elgordo Ah - I did say my crude calculation ignored the loan notes. The RNS today means things are healthier than I thought; even if the Truphone and Sim4Travel assets are worthless, NTWX has 7.8p in cash per share. Current buy price for a NTWX share is 5p, so that's a discount to cash of 36%. Far from an unprecedented discount for a cash shell, but a nice security blanket for now. |
Posted at 12/4/2008 09:50 by elgordo Finals last year were issued on 9 March, so company has presumably been waiting on something before releasing this year's. Maybe it was this, announced on 10 April -I read this to mean that Sim4Travel is now basically a cash shell with assets of around £1.3m cash and £1.3m shares in Truphone. Since Truphone is unlisted, the shares have no market value, but for the sake of argument lets say they're "worth" what they have been valued at for this transaction. Nettworx owns around 117m shares in Sim4Travel, which with 740m in issue in total gives them about 16% of the company. So this holding is now "worth" 16% of £2.6m = £420,000. I am aware that this crude calculation ignores a whole bunch of potential other factors such as the loan notes and warrants, and any Sim4Travel liabilities or non-business assets not covered by the Truphone acquisition. But it has helped me get a feel for what Nettworx's only non-cash asset might now be worth. The interims showed investments of £1.9m. Again, this might possibly have included other things than Sim4Travel, but I think it is safe to assume that this should now be the £420k as above. So, with their cash position presumably remaining neutral (interest earnings covering running costs), that means the NAV of the company is now around £7.7m + £0.4m = £8.1m. With 111m shares in issue, that's a NAV per share of 7.3p. So, with the numbers out of the way - it's now almost 2.5 years since this was floated, and whilst I'm glad Sim4Travel has effectively gone away (always looking like a duff business model to me) this news means Nettworx is pretty well back to being a cash shell again. Let's jsut hope we don't have to wait another few years for the company to find something better to do with the £7.7m. |
Posted at 16/4/2007 10:59 by elgordo More detail on the SIM4Travel investment, from its own release on Plus markets -"The investment comprises a placing of 117,333,333 shares for a consideration of GBP704,000 and 5% coupon convertible loan notes totalling GBP756,000 which will be convertible at a rate of one Ordinary share for each 0.6p of the principal amount or interest of the loan note. "Furthermore 30,000,000 warrants exercisable at 0.6p per share have been granted to Nettworx under the terms of a consultancy agreement between the Company and Nettworx. The warrants expire on 31 January 2013. "As a result of the investment, 117,333,333 new Ordinary Shares in the Company have been issued in satisfaction the placing." SIM4Travel's shares are currently up 25% on the news, at 1.875p mid. With around 740m shares in issue, that values the company at almost £14m. So, on the face of it, Nettworx has got a very good deal here, turning £1.5m cash into £3.5m in equity. I'm sure things can't be that simple, though. My immediate reaction to the investment is, the maths above apart, negative. Surely the business model of SIM4Travel has just been significantly undermined by the EU's decision in the last few days to dramtically reduce roaming charges? I notice that Leo Knifton is the chairman, and his name rings a bell from other bulletin board discussions (particularly regarding shells?). Is there a connection to any of Nettworx directors? |
Posted at 09/3/2007 20:31 by elgordo 17.17 on a Friday - what a time to release final results!I topped up a few days ago on the off-chance of acquisition news, but it looks like the waiting will continue. I wonder whether a change of strategy to "allow the Company to invest in special situations to include investments in companies where it does not necessarily take 100% control" means we will see the money being put into some of the directors' other interests? In the meantime, I'm both amused a reassured that the company is currently profitable - interest earnings on the cash exceeding their costs. Indeed, with net assets of £9,530,705, the company has a NAV per share of just under 8.6p. |
Posted at 05/12/2006 15:04 by sarian Good bet this cash shell.Placed at 10p 21/12/05 to buy voice,video and data companies with £9m to invest. Investment co's have 48% intrest. Some big names behind NTWX - Jason Drummond, Jonathan Rowland and Charlie Muirhead. This could be a big one. |
Posted at 08/11/2006 14:30 by sarian Contra entry trades yesterday for 3.25m shares @ 5.25p and 5.50p.Baymont Developments announced increased intrest to 6.98% from 4.05% shown on the 13/10 i.e. 3.25m shares, the amount traded yesterday. How can these be traded at this price when the current prices quoted is at around 6.06p (sell) |
Posted at 13/7/2006 10:14 by elgordo As long as the directors haven't been too free with the company cheque book since floating, the glimmer of good news is that the share price now equates to the cash per share, based on the original cash raised (£9.4m raised, 111m shares in issue; £9.4m / 111m = 8.5p per share).However, it is of course not uncommon for cash shells to trade at a substantial discount to cash, so I'm not suggesting that the price couldn't fall further. The company was formed in mid-December, so its half year must have ended no later than mid-June. Of course they then have up to six more months to issue their preliminary results, so we have anywhere between another 0 to 5 months to see them. Whether they will have anything more interesting to say beyond the typical "we continue to investigate possible acquisitions..." remains to be seen. |
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