Cantono Share Discussion Threads

[timely3] 20/2/2009 11:46

Surprising bit of buying activity in the shares this morning. I wonder what has caused it?

[fgump] 15/2/2009 09:02

£9m loss last year, £8.5m this year. Thats why the share price has tanked nothing to do with the lack of liquidity. Now they are running away to fail in private. Poor shareholders.

[jonathan_papworth] 13/2/2009 22:28

I think that some people are being a bit optomistic. I knew Eamus very well. He can talk the hind leg off a donkey - but make money? He has not been able to achieve this in over 20 years. I wish I had never met the man, I would be far wealthier. I am saddened that his latest exploit has gone the way of his last one, but I am not in the slightest bit surprised. Cantono is worth nothing, and the share price reflects this - it is all hot air. All Cantono has is a lease on some property - no assets, and they sold the only trading part of the business. All logic has to conclude that they are a dead company.

[ljsquash] 10/2/2009 21:50

I agree I see it as a positive move also the few times I have spoken to Eamus he has always been upset at AIM movements being too unpredictable..

[timely3] 10/2/2009 20:00

That must be good news imo as it will enable them to do a private sale in due course at a fair price ie much higher than present. I will continue to top up ahead of the de-listing on weakness.

[ljsquash] 10/2/2009 12:55

RNS Number : 0871N
Cantono PLC
10 February 2009






Cantono PLC ('Cantono' or the 'Company')

10 February 2009

Notice of de-listing

The Company announces that a circular was sent to shareholders yesterday to convene a general meeting for 25 February 2009 to seek shareholder approval for the cancellation of admission to trading of the Company's ordinary shares of 1p each ('Ordinary Shares') on the AIM market of the London Stock Exchange ('the Resolution'). Subject to the passing of the Resolution by shareholders, the Company's shares will de-list on 11 March 2009.


Following careful consideration, the directors of the Company ('the Directors') have concluded that it is no longer in the best interests of the Company or its shareholders to maintain the admission to trading on AIM of the Ordinary Shares. The current economic crisis has led to significant falls in the values of the global stock markets, which have been exaggerated in small cap, low liquidity stocks.


It is the opinion of the Directors that in the acute stock market turmoil the Company's current market capitalisation has become completely disassociated from the inherent value of the Company. Whilst there are many factors affecting a company's share price the generally depressed nature of the IT sector has been compounded by the Company's small free float resulting in very low liquidity. This is evidenced by the fact that the Company's share price has declined by almost 96 % between 13 February 2008 and 6 February 2009, being the latest practicable date prior to the date of this document, with an average daily volume of less than 0.13% of the issued Ordinary Shares being traded during that same period.


The Directors also believe that the Company's continued admission:
results in significant direct costs to the Group, which management estimate to be in excess of £200,000 per annum;

results in a disproportionate amount of senior management time being spent in meeting the AIM Rules and related regulatory requirements, including reporting, disclosure and corporate governance requirements; and

may no longer serve a useful function in terms of access to capital or the ability to use the shares of the Company to effect acquisitions.



For the reasons set out above, the Directors consider that the cancellation will promote the success of the Company and is in the best interests of the Company and its shareholders as a whole. Accordingly, the Directors unanimously recommend Shareholders to vote in favour of the Resolution as they have irrevocably undertaken to do so in respect of their own beneficial holdings of 762,561 Ordinary Shares, representing approximately 2.54 per cent. of the entire issued share capital of the Company.

[davebowler] 20/1/2009 12:03

I think finance would be available for kitting out if a major client were to sign a lease.

[davebowler] 20/1/2009 11:53

Mind you, the convertible loan notes could require £6- £8m if repaid over the next few years if not converted to shares at 3p. This latter alternative would dilute current shareholders by 2/3rds.

[jotoha2] 19/1/2009 20:19

Are you being serious, this lot are looooosing money left right and centre...good try!!!!

[ljsquash] 26/11/2008 11:47

250,000 @ 1.05p any other profession and that would be criminal!

[timely3] 15/11/2008 10:43

All very quiet given they seemed to be in a hurry to get the new funds?
Anyone heard anything?

[aa29] 24/10/2008 12:00

ljsquash - 'I thought this was good news and yet marked down 33% by those lovely mm's.'

Perhaps the mm's know what the placing price is. Cantono are hardly in a strong position to strike a deal for funding at a good price in the present market.

[ljsquash] 24/10/2008 09:06

I thought this was good news and yet marked down 33% by those lovely mm's.

LONDON (Thomson Financial) - Cantono PLC said current indications are that its planned fundraising is likely to be at a level that can be achieved by an equity placing rather than by issuing convertible debt.

The effect of dilution for shareholders by issuing equity rather than convertible debt will be significantly less, it said.

However, the company said it is still not in a position to give the exact terms of the proposed institutional placing.

The company said on Oct 7 that it needs to raise funds to finance capital expenditure and power sourcing commitments and to invest further in its Data Centre business.

A general meeting of shareholders is planned for October 29 to vote on the planned fundraising.

[timely3] 04/10/2008 08:42

Any comment in techinvest about the fall in the share price?

[ljsquash] 17/9/2008 19:09

It would make a nice change!

[timely3] 17/9/2008 19:07

I believe the seller has been cleared, and with the positive news today maybe there is hope for some upward movement?

[ljsquash] 15/8/2008 15:21

50,000 Buy and were down with a 25,000 sell looks like mm's playing a blinder.
Please some one shoot them!

[aishah] 14/8/2008 14:34

Cantono PLC ('Cantono' or the 'Company')
Grant of Planning Permission at Fareham Data Centre

The Company is pleased to announce that Cantono has received confirmation from Fareham Borough Council that planning permission has now been formally approved to fully develop our newly acquired facility into an enterprise class Data Centre.

As a result the Fareham Data Centre should be capable of commencing operations, and be in a position to take on new clients by the end of September 2008. The Company has now commenced its sales and marketing of the facility which is already generating interest from a number of blue chip organisations.

[ljsquash] 09/5/2008 10:57

About 1 million just gone through - lets hope when the Buyer is finished it starts the climb!

[ljsquash] 09/5/2008 09:46

Some late Buys showing up from yesterday explaining the 5p rise but still not noticed yet?