Amino Technologies Share Discussion Threads

[masurenguy] 21/7/2015 09:11

Offer just hit 151p, which represents a 16% premium on the placing price !

[connor23] 21/7/2015 09:05

Breaking out nicely on today's news

[cockerhoop] 21/7/2015 08:18

Price/Sales ratio of 1.4 compared to AMO's of 1.9ish though Entone is not yet as profitable.

[tomboyb] 21/7/2015 08:13

Morning -

That does look exciting - Good acquistion from the outset and a good set of results -

[morkandmindy] 21/7/2015 08:12

Very pleasing results indeed. Have just bought in.

[cockerhoop] 21/7/2015 08:07

Paying approx EV/EBITDA of 11 times for a business that has grown quickly over the last couple of years.

[connor23] 21/7/2015 08:02

Buying in today on the news. Looks a very exciting deal and genuinely transformational. Need to do some more research now!

[masurenguy] 21/7/2015 07:55

Great results and this acquisition should really accelerate Amino's future growth and take them into the major league where this sector is concerned. Also good to see that the only 50% of the initial consideration will be raise via just circa 30% dilution with the balance funded by a mixture of cash and debt.

Acquisition of Entone
The Company has conditionally agreed to acquire the entire issued share capital of Entone for the Total Consideration of $73.0 million (GBP46.7 million).

The Total Consideration will comprise:

-- Initial Consideration of $65.0 million (GBP41.6 million), payable to Entone's Equityholders, entirely in cash, to be funded by:
o the Placing - to raise gross proceeds of GBP21.0 million;

o the existing cash resources of the Company - as at 31 May 2015 Amino had a cash balance of GBP17.3 million; and

o the Revolving Credit Facility - $8.0 million (GBP5.1 million) is expected to be drawn down, in dollars, to fund the Acquisition.

-- Deferred Consideration of $8.0 million (GBP5.1 million), payable to qualifying Entone Management only, in cash, of which a proportion will be used to subscribe for the Deferred Consideration Shares (such proportion of cash and Deferred Consideration Shares is to be pre-determined at the election of Entone Management prior to Completion, with a minimum share component election obligation of 50 per cent.), such payment to be structured as follows:
o $5.0 million (GBP3.2 million) to be paid on the first anniversary of Completion; and
o a further $3.0 million (GBP1.9 million) to be paid on the second anniversary of Completion.

Entone is a provider of hybrid TV and connected home solutions. The Acquisition is expected to enhance Amino's global footprint and enable Amino to expand its addressable market. The Acquisition is expected to be significantly earnings accretive to Amino in its first full financial year of ownership (FY2016).

Entone has consistently demonstrated above peer growth. Entone had revenues of $43.4 million in the fiscal year ended 30 June 2014 (2013: $29.2 million) and EBITDA of $3.9 million (2013: $(1.4) million) (audited financial information). In the 11 month period to 31 May 2015, Entone had revenues of $46.7 million and EBITDA of $5.1 million (unaudited management accounts). As at 31 May 2015, Entone had net cash of $12.0 million and net assets of $15.9 million.

Details of the Placing

Amino proposes to raise GBP21.0 million (before commissions, fees and transaction costs) by way of a conditional placing on a non pre-emptive basis of 16,153,846 Placing Shares at the Placing Price of 130.0 pence per Placing Share, via an accelerated bookbuild. The Placing Price represents a 6.5 per cent discount to the closing middle market quotation price of an Ordinary Share on 20 July 2015 (of 139.0 pence per Ordinary Share).

[rcturner2] 21/7/2015 07:48

Should be on the way to 200p with those results and the acquisition.

[rcturner2] 21/7/2015 07:06

Happy days. Great results and a takeover for cash.

[sharw] 15/7/2015 17:14

I stand corrected - dates in the last 3 years were given in the period end trading statement although not this.

[hyperboreus] 15/7/2015 16:02

A bit harsh sharw and in fact completely incorrect, if you care to check AMO RNS going back to 2005 they have in fact NEVER failed to notify the market in advance of any interim or final results being announced.

Has it occured to you that there may be a perfectly reasonable explanation as to why the date was not stated in the trading update on 4 June bearing in mind the appointment of Financial and Joint Broker on the same date?

[sharw] 15/7/2015 12:39

Interims were:

14/7/14
15/7/13
17/7/12

Sadly this company, unlike many, does not announce the date in advance. As for



it shows the next forthcoming event to be the shares going xd on 2/4/15! Very poor. Lets hope the results are better than the investor relations.

[rcturner2] 15/7/2015 10:56

The interim results are presumably due any day now?

[pejaten] 04/6/2015 09:01

appointment of new financial adviser is interesting. Maybe suggests additional corporate activity in pipeline?

[hyperboreus] 04/6/2015 07:53

Further RNS re Financial Adviser & Joint Broker:

[hyperboreus] 04/6/2015 07:51

Trading update:

[hyperboreus] 03/6/2015 09:28

A few days old but positive news story on Company website:

[rcturner2] 27/5/2015 12:53

I hope so. I had a smaller stake from 80p to 128p and decided that I wanted to get back in here as this ticks all the boxes for me.

[hyperboreus] 27/5/2015 12:11

Good move I think :o)

[rcturner2] 27/5/2015 11:58

Yes, bought 15000 yesterday at approx 137p.

[hyperboreus] 27/5/2015 11:45

Have you bought in again RCT?

[rcturner2] 27/5/2015 11:28

Acquisition 7 days ago lol?

[jimmygee2] 26/5/2015 22:22

When are they gna do something with all that cash?!