AEA Technology Share Discussion Threads

[smcl] 16/4/2013 16:17

WHO GETS THE £18m????????????

Ricardo acquires AEA Europe

Ricardo has announced today that it has acquired the business, operating assets and employees engaged in the business of AEA Technology Plc (in administration) ("AEA Europe"), for a total cash consideration of £18.0 million. No historic defined benefit pension liabilities or bank debts will transfer to Ricardo as part of the transaction.

AEA Europe is a leading environmental consultancy providing technical consultancy services to the UK public sector, the European Commission, international agencies and private sector organizations. The company is a major supplier of services to the UK government, and has a reputation for providing authoritative and independent technical expertise to underpin policy development, implementation and evaluation, in areas including energy and climate change, air quality, sustainable transport, waste management, resource efficiency and chemical risk.

The acquisition announced today will see the AEA Europe business, including an operational staff of approximately 400 located at five UK sites, transferring to Ricardo where it will operate as Ricardo-AEA under the continued leadership of Robert Bell, reporting to Martin Fausset, managing director of Ricardo UK. Based on its most recent reported results, the assets being acquired generated, for the year ended 31 March 2012, annual revenues of £39 million and delivered operating profit margins similar to those of the rest of the Ricardo group. Its acquisition represents an increase in the size of the business of approximately 20 percent.

Today's announcement marks a significant and extremely positive step in the development of both the Ricardo and AEA Europe businesses, offering potential long-term and enduring benefits for customers, employees and investors alike. Ricardo and AEA are both extremely strong and highly respected businesses in their respective core markets, providing a wide range of high quality, expert technical, scientific and strategic consulting services including the delivery of major national and international programmes.

The clients of Ricardo and AEA Europe are complementary. It is anticipated that Ricardo's international network will allow AEA Europe to develop as a more global business, leveraging Ricardo's industrial client base. In addition, AEA Europe's strong links with government organizations are expected to enhance Ricardo's relationships in this customer area.

"I'm delighted to be able to welcome AEA Europe and its employees to Ricardo," said Ricardo CEO Dave Shemmans. "AEA Europe has a strong reputation for its technical capabilities and has a pre-eminent position in advising on and developing major environmental policies. This acquisition supports our ongoing strategy and marks the continued development of Ricardo as the global multi-industry supplier for high quality strategic, technical and engineering services.

"The two businesses share a similar technology-focused professional culture, based on the delivery of innovative world class services to our customer base, utilizing highly skilled employees. Our common long term strategic drivers of reducing carbon emissions, maintaining air quality and the management of scarce resources provide an excellent opportunity to further develop Ricardo's expertise in delivering high value-added services to our global customer base."

Robert Bell, managing director of Ricardo-AEA, added: "I am extremely pleased that AEA Europe has become part of Ricardo. The transaction both secures the future for AEA Europe and provides a platform for its continued success and growth as a part of the global Ricardo organization."

[robindebanks] 13/11/2012 15:32

Local MP

I got a letter back from local MP who is happy to help with the AEA Technology shares scam. I suggest you google who is your local MP then email them with your name address telephone number so they can contact you .Good Luck ps explain the sell off then AEA going into administration?

[robindebanks] 12/11/2012 14:40

ianminusbrain2012

Contacting MP as these crooks should not be allowed to get away with this con ?

[robindebanks] 12/11/2012 14:37

I cannot wait to see CEO ,s face when he gets his OFT enquiry letter it will be worth all the money I have lost?

[robindebanks] 12/11/2012 14:33

smcl

Please send me the email and I will give you details

[ianms2012] 10/11/2012 09:01

Blueday = snoop dog = robin debanks = nut case

[ianms2012] 10/11/2012 09:00

Lol this dude is pasting the same rubbish on London South East service as well as here. Haha

[smcl] 09/11/2012 19:57

RobinDebanks - would you kindly elaborate on what basis you decided to refer the matter to OFT? What are the issues that disturb you? Can provide email if necessary.

Many thanks

sm

[robindebanks] 09/11/2012 10:52

have spoken to the Office of Fair Trading this morning.They are very interested in this case and I f you are a shareholder please can you email [e-mail] and cc [e-mail] as they are interested in your views of the handling and competition factors .

[robindebanks] 09/11/2012 10:52

have spoken to the Office of Fair Trading this morning.They are very interested in this case and I f you are a shareholder please can you email [e-mail] and cc [e-mail] as they are interested in your views of the handling and competition factors .

[isis] 08/11/2012 07:58

It makes you wonder what that couple thought they were doing buying up all the shares?

It started going badly wrong when they got into this Green business.

[waterloo01] 08/11/2012 07:46

Very sad end to a badly run company with some very bright people.

[knigel] 08/11/2012 07:35

Sorry guys. Suspension rns out

[supercity] 01/11/2012 09:51

no trades...has it finally suspended trading???

[mellifluous] 01/11/2012 08:05

'little' would be made in reference to the current price

i.e. no value would be zero
but 1p for the entire company would be a little (but not zero) compared to current Mkt Cap of almost £1,000,000

[maxmarilli] 01/11/2012 07:53

That depends what they consider "little value"....0.5p?this company has the problem of pension`s debt but is actually making profits.....

[still waiting] 30/10/2012 16:44

another "no value for shareholders" statement..

must be invogue at the minute..

[supercity] 30/10/2012 16:00

news gets reported late and people start buying...crazy...how many times do they need to say

"Notwithstanding this on-going process and related discussions, as previously announced, the Board remains of the view that such strategic options would result in little or no value for shareholders"

[maxmarilli] 30/10/2012 08:20

ADVFN news feeds down:today aat rns:


AEA TECHNOLOGY GROUP PLC (the "Company")



Update on Banking Facilities



On 6 August 2012, the Company announced that it had entered into a facility agreement with the Lloyds TSB Bank plc (the "Bank") for additional short term funding of £5 million on a secured basis through to the end of October 2012. As announced previously, the additional funding has allowed the Board to continue its consideration of all strategic options to realise value and the Board remains in on-going and constructive discussions with a number of interested parties.



Given these on-going discussions the Bank remains supportive of the Company while it continues its consideration of all strategic options.



Notwithstanding this on-going process and related discussions, as previously announced, the Board remains of the view that such strategic options would result in little or no value for shareholders.



The Company will provide a further update in due course.

[vision88] 18/10/2012 22:15

THIS IS 75% TO EXPENSIVE IMHO ILL WAIT FOR 0.018P

[duncandisorderly] 02/10/2012 07:59

Very close to closing out the short and sticking it into Synety now.Will never recoup my huge losses in this one but at least made a bit back.
It all could of been all so very different with this one,especially when you consider the state of this planet at the moment.