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Name | Symbol | Market | Type |
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L&G E Fund MSCI China A UCITS ETF | TG:CASH | Tradegate | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.24 | 1.67% | 14.584 | 14.336 | 14.832 | 14.384 | 14.378 | 14.384 | 6 | 22:50:09 |
RNS Number:0456N Cardpoint PLC 02 July 2003 Press Release 2 July 2003 Cardpoint plc acquires mobile top up division of Project Telecom plc for #1.7 million Cardpoint plc, the first UK quoted independent ATM deployer, has acquired PT Distribution Limited (PTD), which comprises the electronic mobile top up division of Project Telecom plc, for a total cash consideration of #1.7 million. The division, which trades under the name of 'E Top Up', operates approximately 2,900 mobile top up terminals in retail outlets across the UK. In the year ended 31 December 2002, the E Top Up division of PTD had sales of #4.4 million and an operating loss of #102,000. The Directors anticipate that the acquisition will be earnings enhancing in the years to 30 September 2003 and 2004. The acquisition marks an important step in the Company's stated strategy of broadening the Group's revenue stream whilst continuing to focus on maximising value from secure payment terminals in retail locations. PTD has a proven, scaleable and profitable business model and has terminals in retail outlets such as MOTO, Costcutter, Spar and Londis. The acquired customer portfolio has many synergies with Cardpoint's since both businesses target retail outlets in complementary locations and with similar demographics. As a result the acquisition will provide cross-selling opportunities, and also allow both divisions of the Cardpoint Group to access new markets and customer databases. PTD's experienced management team is staying with the company and its offices will remain in Newark. Mark Mills, Chief Executive of Cardpoint, said: "We are acquiring a business with a strong management team and a proven business model in a growing market. We believe that electronic top-ups will play an increasing important role as it is intended that vouchers, which currently account for a significant percentage of the pre-paid top up market, will be replaced from mid 2004. "Our expertise in growing, managing and exploiting value from a network of cash machines combined with the expert management team at PTD is ideally suited to maximising the potential return to shareholders from this acquisition." For further information: Cardpoint Plc Mark Mills, Chief Executive Officer Tel: +44 (0) 1253 785 808 mark.mills@cardpointplc.com www.cardpointplc.com Evolution Beeson Gregory Mike Brennan / Henry Turcan Tel: +44 (0) 20 7488 4040 Media enquiries: Bankside Henry Harrison-Topham / Ariane Vacher Tel: +44 (0) 20 7444 4140 ariane.vacher@bankside.com www.bankside.com Notes to editors About Cardpoint Cardpoint plc is an independent owner and operator of more than 1,700 ATMs across the UK. The Company typically charges #1.60 per cash withdrawal, with their customers' permission, and receives transaction revenues for balance enquiries and card rejections. The ATMs are typically placed in convenience stores, shopping centres, motorway service stations, hospitals and train stations, and in areas that are not traditionally serviced by other ATM providers, thereby offering their customers greater convenience and access to cash. Cardpoint acquired Securicor Cash Machine Limited in June 2003 and acquired Green Machine in October 2002. Cardpoint is a full member of the LINK Network, the only branded shared network of ATMs and self-service terminals in the UK, which allows 80 million cardholders of every member financial institution to use the ATM of another LINK member. Cardpoint listed on the Alternative Investment Market in June 2002. The Company's Stock Exchange EPIC is CASH.L - Ends - This information is provided by RNS The company news service from the London Stock Exchange END ACQILFFADSILIIV
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