Transware Share Discussion Threads

[welshanalyst] 04/2/2003 19:18

RNS Number:0561H
Transware PLC
04 February 2003

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES


1) Name of company

Transware Plc



2) Name of shareholder having a major interest

Oyster Technology Investments Limited



3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18


As above



4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them



As above



5) Number of shares/amount of stock acquired


362,250



6) Percentage of issued class


0.82%



7) Number of shares/amount of stock disposed

nil




8) Percentage of issued class


nil





9) Class of security


Ordinary Shares of 10p each



10) Date of transaction


31 January 2003



11) Date company informed


4 February 2003


12) Total holding following this notification

8,200,148





13) Total percentage holding of issued class following this notification


18.51%



14) Any additional information

N/A

15) Name of contact and telephone number for queries

Oliver Cooke - 01784 228500

16) Name and signature of authorised company official responsible for
making this notification


Oliver Cooke




Date of notification .....4 February 2003

[simonevans] 03/2/2003 21:35

Could well fly tomorrow. Like Gladstone, this one looks cheap, even given the risks.

[welshanalyst] 03/2/2003 19:59

LONDON (AFX) - Transware said Arbuthnot Ltd has acquired a further 362,250
ordinary shares in the company and now holds 8,200,148 shares, representing 18.5
pct.
[e-mail]
slm/

[welshanalyst] 03/2/2003 19:58

LONDON (AFX) - Transware said Arbuthnot Ltd has acquired a further 362,250
ordinary shares in the company and now holds 8,200,148 shares, representing 18.5
pct.
[e-mail]
slm/

[contract note] 31/1/2003 16:52

is this cheap now

[simonevans] 09/1/2003 22:02

I think the price needs to break 9p to produce a significant bounce in the price.

[isis] 09/1/2003 15:27

Looks to have held it's rise today - Directors have bought several million @10p & apparentley sales of Erudigm have gone well.

[quantumx] 09/1/2003 11:25

The buys have appeared. Price well up.

[latifs100] 09/1/2003 11:25

up 21% at 11.20am,

[gavis] 09/1/2003 09:02

Two MM's have increased the bid price to 7p. Perhaps some delayed purchases to show up soon.

[isis] 08/1/2003 21:55

Simon - lots of info on the iii board.

[simonevans] 08/1/2003 21:51

Director buying today and resolutions passed. Turned the corner? Any views? As always DYOR.

[simonevans] 07/1/2003 21:40

No news of EGM today. Anyone go along?

[isis] 07/1/2003 11:31

The vote is today so we shall see which way it will go - if the vote failed it may lead to an all out bid, unfortunately it's got a bit messy but many are happy to pay more than the current shareprice:-

December 29, 2002

McCabe sizes up IT firm
Des Crowley



BILL McCABE, the founder of e-learning company SmartForce, has built up a 13% stake in Transware, a software company operating in Ireland.
The moves come as Transware deferred a shareholders' meeting intended to consider motions to help refinance the company. The crucial meeting has been put off until January 7. If the resolutions are not passed the directors will be entitled to have loans of £253,000 (€392,150) repaid immediately.

Enterprise Ireland has also made a £407,000 contribution to the funding, conditional on Transware directors agreeing to convert another £500,000 loan into equity and turning the £253,000 loan into a convertible.

Transware operates mainly in Ireland even though it is quoted on the London-based Alternative Investment Market.

The capital injections into Transware stem from the difficulties in the technology market. The initial directors' loan was made last August to ensure that the company had sufficient working capital to remain in business.

Transware has not been helped by the fact that there has been a U-turn in its relationship with SmartForce, which recently merged with US peer SkillSoft. Transware's six-year agreement with SmartForce, announced on July 23, 2001, has come to a premature end. At the time Transware expressed "delight" that it had secured an agreement with its largest customer. Transware claimed that the deal would boost its forward order book to £25m, a hugely significant expansion given that its turnover last year was slightly in excess of £12m.

This deal included a commitment to buy more of Transware's products and to make royalty payments for the use of Transware software.

The accounts for the year to the end of June 2002 disclosed that the royalty arrangements had been stopped by mutual agreement. In addition, SmartForce confirmed that Transware was its preferred localisation supplier, but stated there was no longer a formal obligation between the two companies. This led to a net write off of £1.8m in the profit and loss account.

In the meantime Oyster Technology Investments, a company used by Bill McCabe for his personal investments, has been building a stake in Transware. On October 7 it invested in a Transware £250,000 three-year convertible loan note. On December 4 it snapped up 9.2% of the company's shares and on December 6 it bought another 1.4%. By the time its last share purchase was notified to the stock exchange on December 16, the total holding had reached 13%.

It is not clear whether McCabe is planning a takeover bid or whether he is simply bargain hunting. The share price which has been as high as 60.5p in the past 12 months and is currently 7.25p, had been as low as 4.25p recently.

[gandalfthegrey] 04/1/2003 00:20

simonevans - As was pointed out by swizz 16 Dec:

Some interesting updates on Inside-Outside-Gladstone and some comments on Fridays Transware EGM and AGM >>>



might go some way to answering your question

[simonevans] 03/1/2003 17:14

Thanks - very interesting. Sounds like it's not Oystertec then! What's your view on Corporate Synergy's involvement here? - as on the ANC thread, I am a bit of a supporter of this investment bank - merely because they are very entrepeneurial and get deals done quickly and cheaply.

[simonevans] 03/1/2003 08:59

Are Oystertec interested in taking Transware out given that they seem to have increased their stake to 20%? Does anyone know why the EGM was adjourned? Looks like something is happening to me! As always DYOR.

[quantumx] 03/1/2003 00:51

Another 250K buy (I think) this morning going through. Someone could be building a stake.

[isis] 20/12/2002 16:52

Sneaky buy at the close - Oystertech????????

[biomax] 16/12/2002 16:41

someone is building a stake

[isis] 16/12/2002 11:01

As there are no alternative plans for the re-financing of TRW on the table at the moment how can Guiver vote against?
Oyster buying more today obviouysly they want the deal.

[swizz] 16/12/2002 09:44

Some interesting updates on Inside-Outside-Gladstone and some comments on Fridays Transware EGM and AGM >>>



anyone have any thoughts on this ?

[biomax] 13/12/2002 07:11

fill me boots !

[quantumx] 07/12/2002 00:40

IS someone stake building in transware 500K sell this morning but the price is being held up. What is a "B" trade? Does this mean anything to anyone?

[quantumx] 06/12/2002 15:03

Thanks g4ssg ...... not quite broke yet, but getting there! :)