AT Communications Share Discussion Threads

[8trade] 01/6/2009 14:42

Of course they knew !

However if they disclosed it at the AGM then that would have been
classed as insider information as those that attended could have
sold on the news straight away so they could not say anything until
they released a rns, still not good though.

[scburbs] 01/6/2009 14:39

Question: Do we think they were aware of this issue at the AGM? Answer: Almost certainly.

Does this explain why Alex Tuppin has departed?

Either way this information should have been disclosed sooner and certainly at the AGM.

[tiltonboy] 01/6/2009 14:34

Share price has been saying there is a problem for some time.

[8trade] 01/6/2009 14:26

They know how to find trouble dont they !

Long term yet again if you hold !

[masurenguy] 29/5/2009 15:05

Some solid buying over the last two hours !

[davidosh] 28/5/2009 14:23

AT was there in the cheap seats with me. IC not there....may report later but involved heavily in another company at present. Needless to say the six questions raised all came from me.

Has anyone checked out the new NED as he was not there to answer the questions I had for him ?

I chatted privately with AT....He will not be a seller IMO

[masurenguy] 28/5/2009 14:19

DD - I couldn't make it today - surprised that there were no other external shareholders apart from you - not even IC !

Would appreciate any insights on the departures of AT and AP and any updates on YTD performance and current prospects for the rest of this year !

[davidosh] 28/5/2009 14:12

Amazing ....so many questions to be answered yet not a single shareholder other than directors and Alex Tupman and one key employee/holder at the AGM !

[8trade] 28/5/2009 08:19

What is it with this company and getting rid of finance directors ?

[masurenguy] 28/5/2009 07:12

Another FD bites the dust !
DD - be interested to hear the news from of todays AGM.
.......................................................

RNS Number : 9162S
AT Communications Group Plc
28 May 2009

Board Changes

Interim Finance Director appointed
Sir Aubrey Brocklebank appointed as Non-Executive Director

The Board of AT Communications announces further Board changes, in accordance
with its objective of securing the appropriate skills and experiences, to
support the business through a period of change.

Andrew Parsliffe, the Company's current Finance Director has stepped down from
the Board and will be replaced on an interim basis by Michael Norris, one of
ATC's Non-Executive Directors. Michael, who qualified as a Chartered Accountant with Price Waterhouse, brings significant senior management and banking experience to the role and will be actively engaged in recruiting a permanent Finance Director.

At the same time, the Board announces the appointment of Sir Aubrey Brocklebank, as a Non-Executive Director. After qualifying as a Chartered Accountant, Sir Aubrey spent over 10 years in Merchant Banking initially with Guinness Mahon before developing his experience both within the wider Corporate Finance and Venture Capital arenas. As a result, he has extensive experience of advising and investing in companies during periods of change and subsequent growth. In 1992 he set up his own consultancy business and has been involved in advising several AIM listed companies during periods of transformation.

Commenting on the Board changes, John Standen Chairman of AT Communications,
said: "I would like to take this opportunity to thank Andrew for his contribution to the business over recent years and wish him the very best in his future plans. We are pleased also to welcome Sir Aubrey on board as he has significant City and smaller company experience and will provide valuable input during ATC's current phase of transformation."

[8trade] 27/5/2009 16:13

Well you cant buy online now so you've done a good job of
mopping up the loose stock.

[davidosh] 27/5/2009 16:13

8trade...Have you got any LNG ? Watch for the sparks there on Monday....yet another AGM !!

[davidosh] 27/5/2009 16:11

Cheeky !! Time is something I am very short of but I take this stuff seriously and management need watching very closely these days !

[8trade] 27/5/2009 16:10

PS..100k....nice buying, hope it comes off for you, watching but
not in myself but i think it's cheap too, there's so many of them
around at the moment !

[8trade] 27/5/2009 16:08

Another AGM David, some people have too much time on their hands :-))

[davidosh] 27/5/2009 16:07

I have just added at 9.7p average so perfectly happy now to attend the Agm tomorrow and try to find out what is causing the lack of confidence here. Maybe an update on trading will help....Cannot knock it much more surely ?

Anyone else going ?

[staymour] 27/5/2009 15:57

predate, predate, please, lol

[masurenguy] 27/5/2009 15:54

With a market cap of £7.1m the forward PE is just 2.1 and the current year PE is just 1.6. With projected sales of £54m in the current year, an EBITDA of £5m and debt reducing to circa £9m, they are in a better position than they have been over the past 3 years. At this valuation it must be an even more attractive proposition to a potential predator.

[geraldus] 26/5/2009 09:24

Hmm, my buy at 10.31p shown as a sell,possibly because below mid perhaps - G.Spottts.

[pjdeery] 22/5/2009 19:23

Masurenguy,
Your post sums it up correctly as i see it.A bid looks the way out but as i have been here from day 1 i would like ATCG to be given the chance to prove itself but i doubt it will avoid a bid especially when the infamous "Green Shoots" are proven to be here.
If Tupman can hold on for a while i am sure he will get an offer he can't refuse for his tasty % holding(from a potential bidder).Would be a vote of confidence if directors were to purchase a decent amount of shares say £50,000 worth each too display their sympathy with loyal and long suffering shareholders.

[staymour] 22/5/2009 11:27

jwe, thanks, and I hope that you feel that you too can rejoin our merry band soon.

[jwe] 22/5/2009 10:57

Well i hope for holders he does not decide to dump them.Personally i too feel that is very unlikely and not likely to be in his best interests.
What will be key here is the continuing reduction in debt.It has been this issue that has dogged the share for a long while.There is certainly potential here,but before repurchasing i would like to see proof first.There have been too many false dawns on debt and other issues albeit with the old guard at the helm.Good luck to those that hold!

[masurenguy] 22/5/2009 10:49

Hi jwe - fair point. AT has around 13m or nearly 17% of the shares. Don't know what his average price is since he had around 11.7m at the time of the IPO so one might imagine that he might not be much underwater here. Scott Kean also had circa 2.5m at the IPO compared to 2.7m now so he is probably at a similar cost price.

Other directors and former directors are not so fortunate since in most cases they acquired their shares post IPO. The most obvious example is former FD Ian Crawley who holds 2.46m at an average price of around 40p. He is down almost £750k at the current share price !

I suspect that AT may wait if he thinks that the company fortunes will now be on the up following the Rocom sale. Eventually I think that he will dispose of his holding in one or more blocks to an institution since there is insufficient liquidity to sell them in the open market - it could take years.

The other possibility of course is that ATC could be taken over by a larger Telecoms outfit who might now view them as good value at say 25p/30p or £20m/£23m now that Rocom has gone. Debt is at much more managable levels and the remaining core business is forecasted to achieve an eps of 4.3p this year and 5.8p next year with debt also reducing to £4m/£5m by then.

I think that the takeover option is the most likely scenario but we can only wait and see what the happens !

[staymour] 22/5/2009 10:46

I've had a further nibble at these prices. Viewing them as a tuck away.

My thoughts are that the new management seem to be determined to grasp the nettle and sort this business out.

The 'old guard' seem to be deposed and decisive action taken on the dividend payout and bonus payments plus future remuneration levels also up for review.

All good moves so far, but the proof of the pudding as they say.... so I'm hoping for some positive guidance on trading at next week's agm.

If things do indeed seem to be heading in the right direction, then we could see some institutional interest coming back on board, and this might allow Mr Tupman's holding to be reduced in an 'orderly fashion' if desired.

Having said that, he might have no wish to sell at these depressed levels especially if he believes that there is potential for significant recovery over the next few months.