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| Share Name | Share Symbol | Market | Stock Type |
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| Sagentia Grp | SGA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 4.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 4.00 |
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Posted at 21/1/2008 13:17 by elgordo Nothing ever straightforward here, is it? However, assuming it is all just an administrative issue and the float gets away on 30th, at least it's a bit of publicity for them. I also hadn't realised that Michael Spencer was the main backer - that's about as top drawer an investor as you can get. |
Posted at 21/1/2008 12:02 by jonwig Telegraph - IPO postponement:TurfTrax delays coming into play By Ben Bland Last Updated: 8:31am GMT 21/01/2008 A horse-race betting technology firm backed by City financier Michael Spencer has delayed its float on Aim after a Dubai government fund taking an 11pc stake decided to alter how its investment was structured. # The latest news and analysis of the media and advertising industry TurfTrax was originally set to list on January 11 but was forced to delay the float amid speculation as to whether the investment by Istithmar - a fund owned by the Dubai government - could be viewed negatively in a country where gambling is illegal. Istithmar is an arm of the government-owned Dubai World group. The Dubai government has courted controversy in the recent past by putting money into businesses directly linked to gambling. Last year, it came in for fierce criticism after taking a $5.2bn (£2.7bn) stake in Las Vegas casino operator MGM Mirage. (At the time, Dubai World said it was attracted by the high-end hotel business rather than gambling.) In an early draft of the TurfTrax admission document seen by The Daily Telegraph, Istithmar World Real Estate was listed as taking an 11.37pc stake in the company once it floated. But, in the latest stock exchange filing from TurfTrax released on Friday, Istithmar is not cited among the "significant shareholders". The same release also indicated that the company's "expected admission date" had been put back to January 30. A spokesman for TurfTrax said that Istithmar was going ahead with its investment but had merely decided to change the subsidiary through which the investment was held. He explained: "The delay has been caused through the administrative process resulting in the change of the investing subsidiary of our investor in the Middle East. We've got a responsibility to let the market know, although the delay doesn't affect anything to do with the float." No one from Istithmar was available to comment. TurfTrax is betting its future on the growing popularity of in-race gambling with younger punters. The company has developed the first fully-electronic in-race betting platform, which it hopes to sell onto major bookmakers such as Ladbrokes and William Hill. TurfTrax, which is chaired by former National Express chief executive Adam Mills, started life doing soil analysis for the agricultural industry before moving into horse-racing, where it used the same technology to measure the quality of the ground at racing tracks. The firm then branched out into data provision, after gaining exclusive permission to attach electronic chips to horses at 37 of the UK's 59 racecourses. While traditional gambling has been losing popularity as many older punters die out, in-play betting has been gaining a growing following on websites such as Betfair. TurfTrax hopes to capitalise on this trend thanks its fully-automated system, which will make it easy for bookies to offer changing odds as a race develops. "This is a tremendous opportunity for a young business," said managing director Mark Kent, a former executive at racecourse operator Arena Leisure. "In-play betting is becoming increasingly popular in football although it's never been achievable in horse-racing without real-time data to get the price." Punters bet £10bn on the races in 2006 and TurfTrax hopes to tap into this pool of cash with its new platform. "The initial response from a significant part of the UK bookmaking industry has been positive and the group anticipates launching a fully commercial product, capable of integration into a bookmaker's risk management system during the first quarter of 2008," the company said in its draft admission document. But it warned: "The group's strategy anticipates that the availability of in-running betting products for horse racing through fixed odds bookmakers will result in the growth of a substantial market for such betting. If this does not occur there would be a material adverse effect on the group's financial performance." TurfTrax will float at 40p with a market capitalisation of £17.5m, after raising £3.2m to fund its expansion into in-race betting. Prior to the float, 47pc of TurfTrax was owned by IPGL, an investment vehicle controlled by Mr Spencer. His stake will shrink to 38pc once the shares are admitted to trading on Aim. |
Posted at 04/1/2008 11:40 by jonwig Investors Chronicle has TurfTrax as "Float of the Week", with a 'buy' recommendation.I can't access the article via the website, as I'm not a subscriber. A nice premium would be welcome, of course. Martin Frost is a NED: |
Posted at 09/11/2007 12:14 by jonwig Thanks ElG, I wouldn't have spotted it!Exciting stuff going on, we hope. Some thoughts: At Sagentia we are helping clients such as Vodafone address this new opportunity [managed service element] by tightly binding product development and manufacture to managed service creation and delivery Are we getting a slice of the profits on this sort of deal? Impression was that we would, under the new strategy. I always did rate Turftrax, now they've asked SGA to expand and upgrade their offering. Again, profits, we hope. And good to see SGAI is alive and well. Both Apple and Dell's high profile product recalls of more than one million Sony-powered laptops has raised concerns over battery safety, affecting clients everywhere but particularly in the industrial, military and consumer sectors. Investors in CMF please note! M-PESA ... Vodafone will be making lots of money out of this, will we get a slice, or just the fee? |
Posted at 01/11/2007 15:12 by jonwig More on Atraverda fundraising, though we don't have a basis here for current valuation.Surely there's room for a big uplift with this company? Bad For Batteries, Good For Atraverda Battery makers may be fuming over the skyrocketing cost of lead, but at least one startup says it has benefited handily. And it's hoping a new funding infusion will help maintain that momentum. South Wales-based Atraverda said Wednesday it had pulled in $21.5 million in a second round of funding. Atraverda has developed a ceramic-based material it calls Ebonex that can be used as a single electrode that acts as both the positive and negative sides of a battery. It can reduce the amount of lead required for batteries by as much as 50 percent, the company said. A year ago, Atraverda was promoting Ebonex as a tool to create high-performance batteries, boosting energy efficiency significantly. But with the cost of lead up 80 percent in the past year, according to price indexes, and battery manufacturers feeling pressured to reduce carbon emissions from manufacturing, the company's main selling points have shifted. "We were always about the performance benefit, but the tide is beginning to change with lead prices up so dramatically along with the interest in carbon footprints," said CEO Andrew Dixey. "Timing is a wonderful thing, and what's unfortunate for the battery industry has aided us enormously." That atmosphere has created a flurry of activity for Atraverda over the last year, Dixey said. New customers testing its materials include the United States' East Penn Manufacturing, India's Exide Industries Limited and Ukraine's Vladar Enterprise. Atraverda -- which raised its first round of around $12 million at the end of 2004 -- will spend its funding infusion to build a production facility to keep up with demand, Dixey said. The international group of funders includes Denmark's BankInvest New Energy Solutions, Portugal's Espirito Santo Ventures. Existing investors include Scottish Equity Partners, Chord Capital and Finance Wales from the United Kingdom and EnerTech Capital and OnPoint Technologies from the United States. |
Posted at 18/7/2007 19:30 by elgordo Yes, Sphere has been "on the horizon" for a while now. I'm also disappointed that there's been no news on Intrasonics, where I'd been under the impression that some progress was expected in the first half of this year.Grasping straws wherever they be found, I notice that since my post 104 about Atraverda's new website, they have now populated the page on cathodic concrete, including a link to a company (Fosroc) which lists Ebonex under corrosion control on their global products list. (In fact, further research shows that Fosroc has exclusive rights for this application, and have done for some years.) If you want learn all about Ebonex's use as a "discrete impressed current cathodic protection anode" (and frankly, who wouldn't?), see Nothing on the site about water treatment yet (which isn't a great surprise, as the Atranova website has been inactive for as long as I can remember; for example, it has no news page, and still refers to Generics as their lead investor). |
Posted at 13/6/2007 07:24 by jonwig Atraverda looking to sell a 50-60% stake11/06/2007 UK-based battery manufacturer Atraverda is looking to sell a 50-60% stake in the company, according to CEO Andrew Dixey. The company is looking to attract a large investor for round B financing, hoping to raise $20m or more from that round. A deal is hoped to take place within the next few months. Current investors in Atraverda include Scottish Equity Partners, Wales Fund Mangers, The Sagentia Group, OnPoint Technologies and EnerTech Capital. Dixey added, "We will be keeping some of our existing investors but are looking for a large VC to acquire a majority stake." Based in Abertillery, Atraverda was founded in 1993 and employs 23 staff. Let's hope they are successful (at $20m it won't be SGA ... we hope) so that at least we'll have a basis for up-to-date valuation. If it is - say - a 50% stake for $20m, that would make the whole company worth some £20m. SGA currently has a 14% (fully diluted) stake, and the whole company is shown on the SGA books at £8m. That would imply uplift for SGA: £1.1m to £1.4m. |
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