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CBOX Cake Box Holdings Plc

163.00
-2.00 (-1.21%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cake Box Holdings Plc LSE:CBOX London Ordinary Share GB00BDZWB751 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -1.21% 163.00 160.00 165.00 165.00 162.50 165.00 26,862 16:35:16
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Bread, Bakery Pds, Ex Cookie 34.8M 4.24M 0.1059 15.34 65M
Cake Box Holdings Plc is listed in the Bread, Bakery Pds, Ex Cookie sector of the London Stock Exchange with ticker CBOX. The last closing price for Cake Box was 165p. Over the last year, Cake Box shares have traded in a share price range of 118.00p to 187.50p.

Cake Box currently has 40,000,000 shares in issue. The market capitalisation of Cake Box is £65 million. Cake Box has a price to earnings ratio (PE ratio) of 15.34.

Cake Box Share Discussion Threads

Showing 101 to 124 of 1625 messages
Chat Pages: Latest  5  4  3  2  1
DateSubjectAuthorDiscuss
24/4/2007
15:45
So if the equity raise is not successful we are talking zero pence here, I wouldn't blame investors for cutting their losses.
blackbear
18/4/2007
14:35
Sell at 18, buy at 15?
blackbear
17/4/2007
15:36
Can someone tell me how this distressed company can be possibly worth 12million. answers here or on a postcard please.

Cashbox Issue of Equity & EGM Notice


RNS Number:0221V
Cashbox PLC
17 April 2007


Cashbox plc

Proposed Issue of Equity, Notice of EGM and Further re Directorate

The Board is pleased to announce a proposal to issue 21,762,618 new ordinary
shares of 1 penny each ("New Ordinary Shares") at 15p per share to raise
approximately #3.26 million as part of proposals for Cashbox plc ("the Company")
to obtain new banking facilities, to repay existing loans and raise additional
working capital (the "Proposals"). The Company is seeking shareholder approval
to grant the Directors the requisite authority to issue the New Ordinary Shares
and to renew the authorities granted to the Directors under the Companies Act
1985 ("the Act") to issue new shares in the Company.

The Company will today post a circular to shareholders to explain the reasons
for the issue of the New Ordinary Shares and to seek shareholders' approval of
the resolutions to be proposed at an Extraordinary General Meeting ("EGM") on 11
May 2007 ("Resolutions"), notice of which is set out in the circular to
shareholders.

Background to and reasons for the Proposals

As a direct result of the difficulties experienced with the current lease
provider, General Capital Venture Finance Limited ("GCVF"), and as stated in the
Company's interim results for the six months to 31 December 2006 published on 30
March 2007, the Board decided to seek alternative financing for the business.
The Company has secured loans of #2.8 million as an interim measure, while
discussions are taking place with Bank of Scotland to provide new lending
facilities. These discussions are at an advanced stage, credit approval has been
received, and the Company is working towards completion in the near future. The
Company has also secured commitments for additional equity investment of
#585,000 from certain directors and other investors.

The Company has repaid #130,000 (plus accrued interest) of these loans and is
proposing to settle the balance of #2,670,000 (plus accrued interest (although
one group of lenders, being clients of UK investment bank Fairfax I.S. plc, has
waived its entitlement to accrued interest)) and raise #585,000 of additional
working capital through the issue of 21,762,618 New Ordinary Shares at 15p per
share to the outstanding lenders and other investors, conditional on approval of
the Resolutions at the EGM and admission of the New Ordinary Shares to AIM. Part
of the new equity is required to satisfy a pre-condition of the proposed new
lending facilities that the Company raises at least #2 million in new equity
capital. The new facility is expected to comprise #8 million of debt finance,
#500,000 of vehicle finance and a #750,000 overdraft facility.

The Company currently has 1,264 ATMs in operation with its customers and
continues to see strong demand for more ATMs to be installed both with existing
customers and potential new customers. The Bank of Scotland facilities, together
with additional capital that will be made available to the Company on completion
of the fundraising, will enable the Company to resolve matters with GCVF and
will enable a faster roll-out of ATMs to meet such demand than would otherwise
be the case and enable the Company to aggressively pursue new sites.

As part of the equity issue, the following Directors are investing in the
business and will be issued New Ordinary Shares at the same price of 15p per
share as follows (conditional on approval of the Resolutions at the EGM and
admission to AIM of the New Ordinary Shares):

New Total shareholding Approx. % of enlarged
Ordinary after the issued share capital
Shares equity issue after the equity issue
Anthony Sharp (via
Annenberg Investment
Management S.A.) 1,666,666 24,004,666 28.84
Ciaran Morton 200,000 200,000 0.24
Robin Saunders 676,334 676,334 0.81
John Maples 135,184 135,184 0.16
David Auger 133,333 133,333 0.16

Admission to AIM

The Company will make application for the New Ordinary Shares to be admitted to
trading on AIM and admission is expected to take place on 14 May 2007. The New
Ordinary Shares will rank pari passu with the existing ordinary shares of 1
penny each in the capital of the Company, including the rights to all dividends
and other distributions declared, paid or made after the date of issue.

Extraordinary General Meeting

At the Extraordinary General Meeting on 11 May 2007 shareholders will be asked
to consider and if thought fit to pass the following resolutions:

1. an ordinary resolution to give the directors authority under section 80 of
the Act to allot the 21,762,618 New Ordinary Shares and to allot new
ordinary shares of 1 penny each up to an aggregate nominal amount of
#415,858, such authority to expire at the conclusion of the next AGM of the
Company; and

2. a special resolution to authorise the Directors to allot the New Ordinary
Shares, to allot new ordinary shares of 1 penny each up to an aggregate
nominal amount of #124,757 and to allot ordinary shares of 1 penny each
pursuant to a rights issue, as if Section 89 (1) of the Act did not apply,
such authority expiring at the conclusion of the next AGM of the Company.

As an explanation of Resolution 2, Section 95 of the Act concerns the
dis-application of statutory preemption rights pursuant to Section 89 of the
Act. Section 89 of the Act provides that, if the directors wish to issue new
securities for cash, they must be first be offered to current holders of shares
in proportion to the number of shares they each hold at that time. By Section 95
of the Act, shareholders can resolve by special resolution, as proposed above,
to dis-apply Section 89 of the Act for a specified nominal amount of shares.

Recommendation

The Directors consider that the passing of the Resolutions is in the best
interests of the Company and its shareholders as a whole. Accordingly, the Board
unanimously recommends shareholders to vote in favour of the Resolutions to be
proposed at the EGM as they intend to do in respect of their own beneficial
holdings of, in aggregate, 25,494,000 Ordinary Shares, representing
approximately 41.5 per cent. of the Company's existing issued share capital.

The independent Directors consider, having consulted with Seymour Pierce Limited
as nominated adviser, that the Proposals are fair and reasonable insofar as
shareholders are concerned.

Further copies of the circular to shareholders and notice of EGM will be
available from the offices of Seymour Pierce Limited, Bucklersbury House, 3
Queen Victoria Street, London EC4N 8EL.

Further re Directorate

Further to the announcement on 30 March 2007 regarding the appointment of
William Hughes, Mr Hughes was also a director of Medicsight Inc. and Tactica
Fund plc within the last five years. William Hughes was also a director of Megap
Limited when a receiver (Scottish Companies) was appointed on 4 September 1987
and net liabilities were estimated at being less than #500,000. William Hughes
was also a director of Caledonian Golf and Leisure Limited until 1 December 1997
which later, on 25 September 1998, had a receiver (Scottish Companies)
appointed.

blackbear
10/4/2007
15:26
Cashbox said it has secured a 2.0 mln loan through the clients of UK
investment bank Fairfax IS PLC and that talks are on with a major prime lender
to provide asset financing. It added that is also considering seeking additional
equity financing.


Cashbox PLC (AIM: CBOX), the AIM listed independent Automated Teller Machine
("ATM") deployer and operator, is pleased to announce that it has strengthened
its Board of Directors with the appointment of William Hughes CBE as a Non
Executive Director.

William is currently the Chairman of Fairfax I.S. PLC, an investment bank and
Member of the London Stock Exchange.

blackbear
06/4/2007
12:33
badlad, I totally agree. It's an absolute disgrace. This model just doesn't work & we're going to see some well respected business people looking a tad foolish when this finally goes belly up. You're giving it the benefit of the doubt at 3 months !
the atm kid
30/3/2007
19:31
bankrupt with 3 months!
badlad21
30/3/2007
19:30
bankrupt with 3 months!
badlad21
30/3/2007
08:32
YUCK!

gg

greengiant
30/3/2007
07:41
RNS Number:0563U
Cashbox PLC
30 March 2007


Cashbox Public Limited Company
("Cashbox" or "the Company")

Interim Results for the six months ended 31st December 2006

Cashbox (AIM:CBOX), the independent Automated Teller Machine ("ATM") deployer
and operator, announces its interim results for the six months ended 31 December
2006 (H1 06/07).

Anthony Sharp, Executive Chairman said:

"Our sales force has continued its momentum but lack of timely funds from our
lease provider delayed our ability to roll out ATMs as quickly as we would have
liked, however the foundations remain in place to drive this business forward".

--------------------------------------------------------------------------------
as restated
H1 06/07 H2 05/06 H1 05/06
ended Dec 06 ended Jun 06 ended Dec 05
unaudited unaudited unaudited
# 000 # 000 # 000
Machines installed at period end 1,245 1,058 848
Turnover 2,243 1,730 1,429
Gross Margin % 26% 25% 34%
EBITDA* (1,311) (1,313) (735)
Loss on ordinary activities* (1,625) (1,531) (927)
Earnings per share* (2.6)p (3.0)p (2.7)p
Net debt 312 315 8
--------------------------------------------------------------------------------

* before exceptional items of #1,175,000 in H2 05/06 relating to listing and
share option costs.

Highlights

* Merchant contract wins increases potential ATM sites to over 80,000
* Installed estate increased to 1,245 despite difficulties with lease
provider
* Turnover up 30% from preceding six months and 57% from the same period last
year
* Gross margin up slightly from H2 05/06 but lower than the comparable period
H1 05/06 which benefited from higher service income
* Net debt at period end #0.3m, unchanged from H2 05/06
* New #2.8m loan facilities signed in 2007

CHAIRMAN'S STATEMENT

While the steps that the Board had put in place, as reported in the Annual
Report, put us in an excellent position to grow the business, the period to 31
December 2006 and the last couple of months have proved frustrating as our lease
provider, General Capital Venture Finance Ltd ("GCVF"), did not provide funds on
a timely basis. As a consequence our ability to roll out our ATMs across
Merchant Sites at the rate we would have liked was fundamentally prejudiced, and
our ability to reach a critical mass impeded. This has delayed our stated
ambition of achieving profitability. Clearly this is disappointing, however
arrangements for alternative ATM financing are being made and the foundations
remain in place to drive this business forward once we have access to necessary
capital.

In February 2007 we arranged a series of short term loans totaling #0.8m from
directors and some existing shareholders as the arrangements with GCVF
deteriorated. This is testament to the continuing support of a number of key
individuals. The Board also resolved to seek alternative asset financing to
facilitate the growth of the business and is in the final stages of negotiating
an #8.0m asset financing arrangement together with a #0.75m overdraft facility.
While this progresses, the Company has arranged a #2.0m loan facility in March
to enable the rollout of ATMs to continue.

At an operational level the existing estate of ATMs has performed well. During
this difficult time we have been able, through careful cash management, to
install a further 187 machines and the sales force have worked hard and
continued to sign a number of key agreements with major customers. The number of
sites owned or managed by Cashbox's customers (including those with an
associated membership network) has increased to in excess of 80,000.
Operationally we therefore believe the business is well placed to execute the
business plan once the asset financing arrangements are finalised.

Financial Review

Turnover for the first half of the year was #2.2m, up 30% from the second half
of last year and 57% over the first half of last year, the comparable period,
with growth due to higher transaction income as more ATMs are installed.

Gross margin for the period was 26%, up slightly from the second half of 05/06,
but down from the first half 05/06 which benefited from service income derived
from relocating a number of a customer's ATMs.

Administration costs were up significantly from the comparable period last year,
mainly salary costs including share-based payments, as the business continues to
put in place the infrastructure to grow, but only 15% up on the preceding six
months as the growth has been slowed while the financing of new ATM
installations is resolved.

Interest costs are lower following the restructuring of the debt prior to the
flotation of the Company in March 2006 and the interest for the six months ended
31 December 2006 relates principally to the lease facility.

Consequently the loss on ordinary activities for the period was #1.6m compared
to #0.9m for the comparable period with higher gross profit being more than
offset by the higher administration costs.

Careful cash management and negotiation of payment terms resulted in a net cash
inflow from operating activities of #0.9m, with cash collection from debtors and
increased creditors. This was utilised servicing the lease facilities and
purchasing fixed assets with an overall increase in cash for the period of
#0.6m.

Net debt was unchanged at #0.3m at the period end with the net cash inflow from
operating activities covering the continued investment in ATMs.

Board update

As we announced on 21 March 2007, Carl Thomas, previously CEO, was dismissed
without notice after a disciplinary process. Carl Thomas has notified the
Company he is appealing this decision. I have assumed executive responsibilities
while the company is without a Chief Executive and while holding an executive
position I have stepped down from the Audit Committee.

David Auger has also joined the Board to take over as Chief Financial Officer,
effective 2nd April 2007, from Darren Woolsgrove who will be working in a more
operational role assisting me. We are delighted to have been able to appoint
someone of David's calibre as CFO. The expertise he brings with him from high
profile organisations such as PricewaterhouseCoopers and ICI will be of great
benefit to Cashbox as we continue to grow. Darren has indicated a desire to
ultimately seek a new challenge after the Company's successful IPO and is seeing
through his commitments made at that time last year. He will be stepping down as
a Director once a CEO is in place.

Hanco Litigation update

The litigation between inter alia, Cashbox ATM Systems Limited (the Company's
Subsidiary), Carl Thomas (previously Cashbox CEO), and other former employees of
the Company and Hanco ATM Systems Limited ("Hanco") is continuing. At a hearing
on 21st February 2007, and as announced on 23rd February 2007, the court made an
order for the Company's Subsidiary and Carl Thomas to pay 60% of Hanco's costs
of the summary judgment application together with an interim payment on account
of those costs of #150,000. The Company's Subsidiary and Carl Thomas have
applied for permission to appeal the summary judgment decision and a stay of the
interim payment on account of costs has been granted pending determination of
the application for permission to appeal.

The Company and the Company's Subsidiary have obtained a joint and several
indemnity from both Carl Thomas and Anthony Sharp against any liability of the
Company or the Company's Subsidiary arising from or in connection with this
litigation to pay any sum for damages awarded in respect thereof by a court of
competent jurisdiction (including all sums payable to the legal advisers of
Hanco) or for any agreed settlement in respect thereof.

Hanco's application for an interim payment in relation to quantum was adjourned
to a further hearing.

The position of the Company's Subsidiary remains that Hanco would not be
entitled to anything other than nominal recovery because Hanco would not have
secured Phase II of the Threshers contract in any event; and Phase II of the
Threshers contract was not profitable for the Company's subsidiary.

Financing

As a direct result of the difficulties experienced with the current lease
provider GCVF, the Board decided to seek alternative financing for the business.

The Company has secured a #2.0m loan through the clients of UK investment bank,
Fairfax I.S. plc, while discussions are taking place with a major, reputable
prime lender to provide asset financing. These discussions are at an advanced
stage, credit approval has been received, and we are working towards completion
in the near future.

The Board is considering seeking additional equity financing to maintain an
appropriate level of financial gearing and, if necessary, will hold an
Extraordinary General Meeting to seek shareholder approval for this.

Discussions are taking place with GCVF for the termination of their lease
facility and release of their debenture security. It is the Company's view that
GCVF are in breach of the terms of the facility and that the significant
contractual penalties GCVF is currently relying on are not payable. The ongoing
without prejudice negotiations have been protracted and the outcome is
uncertain. The Board is of the view that the termination of this facility is in
the long term interests of the business and expects matters to be resolved in
the near future.

Outlook

Whilst the last few months have been a difficult and frustrating period for the
Company and our staff, we are confident that good progress will be made in
growing the business over the next few months and that we will be reporting
significant progress with our full year results to be announced in the autumn.



Anthony Sharp
Executive Chairman
30 March 2007

For further information:

Cashbox plc
Anthony Sharp, Executive Chairman Tel: +44 (0) 870 126 2274
asharp@cashboxplc.co.uk www.cashboxplc.co.uk

Seymour Pierce Limited
Jeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000
www.seymourpierce.com
Media enquiries:
Threadneedle Communications
Josh Royston / Graham Herring Tel: +44 (0) 20 7936 9606
www.threadneedlepr.co.uk


CASHBOX PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTHS ENDED 31 DECEMBER 2006

as
unaudited unaudited restated
Notes 6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Turnover 2,243 1,429 3,159

Cost of sales (1,655) (947) (2,245)
--------- --------- ---------
Gross profit 588 482 914
--------- --------- ---------

Administrative
expenses (2,146) (1,265) (3,131)

Exceptional items:

Share based remuneration (options) - - (574)
charge
Listing costs - - (605)
--------- --------- ---------
Total exceptional costs - - (1,179)
--------- --------- ---------

Total
administrative
expenses (2,146) (1,265) (4,310)
--------- --------- ---------

Operating loss (1,558) (783) (3,396)

Interest receivable and
similar income 11 6 13
Interest payable and
similar charges 2 (78) (150) (254)
--------- --------- ---------

Loss on ordinary
activities before and
after taxation (1,625) (927) (3,637)
--------- --------- ---------

Loss per ordinary share (pence) 3
Basic (2.6)p (2.7)p (8.4)p
Diluted (2.6)p (2.7)p (8.4)p

Loss on ordinary
activities excluding
exceptional costs and
before and after taxation (1,625) (927) (2,458)

All amounts relate to continuing activities


CASHBOX PLC
CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE SIX MONTHS ENDED 31 DECEMBER 2006

unaudited unaudited as restated
Notes 6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Loss for the period (1,625) (927) (3,637)
--------- ---------

Prior period adjustments 1 (75)
- share based payments
---------
Total gains and losses recognised
since last financial statements (1,700)
---------



CASHBOX PLC
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2006

unaudited unaudited
Notes 31-12-06 31-12-05 30-6-06

#'000 #'000 #'000
Fixed assets
Tangible assets 1,167 234 674

Current assets
Stocks 27 48 22
Debtors 822 634 1,492
Cash at bank and in hand 1,161 625 536
--------- --------- ---------

2,010 1,307 2,050

Creditors: amounts
falling due within
one year 4 (4,865) (3,807) (2,225)
--------- --------- ---------

Net current
liabilities (1,688) (2,500) (175)
--------- --------- ---------
Total assets less
current liabilities (521) (2,266) 499

Creditors: amounts
falling due after
more than one year 4 - - (679)
--------- --------- ---------

Net liabilities (1,688) (2,266) (180)
--------- --------- ---------

Capital and reserves
Called up share capital 614 380 614
Share premium account 3,880 - 3,880
Merger reserve 2,180 2,180 2,180
Warrants reserve 37 - 37
Profit and loss account (8,399) (4,826) (6,891)
--------- --------- ---------


Shareholders' deficit 5 (1,688) (2,266) (180)
--------- --------- ---------


CASHBOX PLC
CONSOLIDATED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 31 DECEMBER 2006

unaudited unaudited

Notes 6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Net cash inflow /(outflow) from
operating activities 6 852 (742) (4,327)
---------- ---------- ----------

Returns on investments and
servicing of finance
Interest received 11 6 13
Interest paid (41) (117) (254)
---------- ---------- ----------


Net cash outflow from
returns on investment and
servicing of finance (30) (111) (241)
---------- ---------- ----------

Capital expenditure and financial
investment
Purchase of tangible fixed assets (623) (154) (44)
---------- ---------- ----------

Net cash outflow from
capital expenditure
and financial investment (623) (154) (44)
---------- ---------- ----------
Cash inflow / (outflow)
before use of liquid
resources and financing 3 (1,007) (4,612)
---------- ---------- ----------

Financing
Issue of ordinary shares for cash - 1,596 5,339
(net of issue costs)
Loans taken and repaid - (15) (457)
Cash advances from Lease 500 - -
Provider
Capital element of finance leases (74) - -
repaid
Sale and leaseback of tangible - - 215
fixed assets ---------- ---------- ----------

Net cash inflow from financing 426 1,581 5,097
---------- ---------- ----------

Increase / (decrease) in cash 625 574 485
---------- ---------- ----------



CASHBOX PLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 DECEMBER 2006

1. Accounting policies and basis of presentation of financial information
These financial statements have been prepared under the historical cost
convention and in accordance with applicable United Kingdom Accounting Standards
on a going concern basis and should be read in conjunction with the Group's
Annual Accounts for the year ended 30 June 2006. The results for the six months
ended 31 December 2006 and the comparative figures for the six months ended 31
December 2005 are unaudited.

The interim report for the six months ended 31 December 2006 was approved by the
Board on 29 March 2007.

This interim financial information does not constitute the Company's statutory
accounts within the meaning of section 240 of the Companies Act 1985. The
financial information for the year ended 30 June 2006 has been extracted from
the statutory accounts which have been filed with the Registrar of Companies.
The auditors' report in those accounts was unqualified but included an emphasis
of matter regarding Going Concern. The auditors' report did not contain a
statement under s237 (2) or (3) Companies Act 1985.

Change of accounting policy
The Company has applied the requirements of Financial Reporting Standard No 20
Share-based payment, which it has adopted for the first time with effect from 1
July 2006 as its application is obligatory for accounting periods commencing on
or after 1 January 2006.

The Group issues equity-settled share-based payments including share options and
warrants to certain Directors and employees. Equity-settled share-based payments
are measured at fair value at the date of grant using an appropriate option
pricing model. The fair value determined at the date of grant is expensed to the
profit and loss account on a straight line basis over the vesting period. At the
balance sheet date the cumulative change in respect of each award is adjusted to
reflect the actual levels of options vesting or expected to vest. The effect of
this is to increase costs for the six months ended 31 December 2006 by #117,000.
The prior period comparatives have been restated resulting in an increase in
costs for both the six months and year ended 30 June 2006 of #75,000 being
#71,000 of ordinary and #4,000 exceptional costs. There was no impact on opening
reserves at 1 July 2005 as no equity-settled share-based payments were made
prior to March 2006.

2. Interest payable and similar charges

unaudited unaudited

6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Bank loans and
overdrafts - 126 203
Supplier interest - 23 46
Other loans 5 1 5
Finance lease
interest and
other charges 73 - -
--------- --------- ---------

78 150 254
--------- --------- ---------

3. Loss per Share

Basic and diluted loss per share has been calculated on the basis of losses
after taxation of #1,625,000 (2005: #927,000) and 61,409,143 1p ordinary shares
(2005: 34,068,000 equivalent 1p ordinary shares) being the weighted average
number of shares in issue during the six month period. The exercise of share
options would have the effect of reducing the loss per ordinary share and is
therefore not dilutive under the terms of Financial Reporting Standard 22.

4. Creditors falling due within and after one year

unaudited unaudited

31-12-06 31-12-05 30-6-06

#'000 #'000 #'000
Within one year

Director loans - 600 -
Trade creditors 924 1,435 592
Taxation and social security 307 97 45
Amounts due under finance leases 973 - 172
Advances from lease provider 500 - -
Other creditors 473 462 469
Accruals and deferred income 1,688 1,213 947
--------- --------- ---------

4,865 3,807 2,225
--------- --------- ---------
After one year

Amounts due under finance leases - - 679
--------- --------- ---------

- - 679
--------- --------- ---------

The finance lease is provided by GCVF and is for a period of five years from the
date of execution, 30 June 2006, and as per a facility letter dated 23 March
2006 for a total facility of #6.1m. On 13 November and 18 December 2006, two
cash advances were received but no accompanying documentation has been provided
or executed and accordingly these balances are treated as Cash Advances rather
than finance leases.

Following GCVF's failure to provide funds on a timely basis, and in accordance
with the facility letter of 23 March 2006, it is expected that the finance
leases and cash advances will be repaid within the next 12 months and
accordingly balances previously due after one year have been reclassified.


5. Reconciliation of movements in shareholders' funds

unaudited unaudited as restated

6m ended 6m ended Year ended
31-12-06 31-12-05 30-06-06

#'000 #'000 #'000

Loss for the period (1,625) (927) (3,637)
Share based payments - credit to
reserves 117 - 645
---------- ---------- ----------

Profit and loss account (1,508) (927) (2,992)

Issue of shares - - 234
Premium on shares issued - - 3,880
Capital (merger) reserve - 1,706 1,706
Warrants reserve - - 37
---------- ---------- ----------

Net (decrease) / increase in
shareholders' funds (1,508) 779 2,865
---------- ---------- ----------

Shareholders' deficit at beginning
of the period as previously stated (180) (3,045) (3,045)

Prior period adjustments:
Share based remuneration charge 75 - -
Share based payments - credit to
reserves (75) - -
---------- ---------- ---------
Shareholders' deficit at beginning
of the period as restated (180) (3,045) (3,045)
---------- ---------- ---------

Shareholders' (deficit)/funds at
end of period (1,688) (2,266) (180)
--------- --------- ---------

6. Reconciliation of operating loss to net cash outflow from operating
activities
unaudited unaudited as restated

6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Operating loss (1,558) (783) (3,396)

Share based remuneration
charge 117 - 645
Depreciation 130 48 98
(Increase) /Decrease /
in stock (5) 163 189
Decrease /
(Increase) in debtors 834 (325) (1,294)
Increase /
(Decrease) in creditors 1,334 155 (569)
---------- ---------- ----------
Net cash outflow
from operating
activities 852 (742) (4,327)
---------- ---------- ----------

7. Analysis of changes in net debt

unaudited unaudited unaudited unaudited unaudited unaudited

Cash in Bank Total cash Debt due Debt due Total net
hand and overdraft and within one after one debt
at bank overdraft year year

#'000 #'000 #'000 #'000 #'000 #'000

At 30 June
2006 536 - 536 (172) (679) (315)

Cash flows 625 - 625 625

Cash advances
from lease
provider (500) - (500)

Funds due from
lease provider (192) (192)

Finance lease
repayments 74 - 74

Non cash items (4) (4)

Reclassificati
ons - - - (679) 679 -
-------- -------- -------- -------- -------- --------
At 31 December
2006 1,161 - 1,161 (1,473) - (312)
-------- -------- -------- -------- -------- --------

The funds due from lease provider relate to amounts invoiced to the lease
provider as part of the sale and leaseback of ATMs. A corresponding amount is
included in Debtors.

8. Dividend

The Directors are not able to declare a dividend.

9. Subsequent events

On 8 February 2007 the Company arranged a series of short term loans from
directors and a number of existing shareholders totalling #0.8m repayable on 28
days notice with interest payable at base rate plus 0.5%.

On 26 March 2007 the company signed a #2.0m 15% loan note repayable in three
years time with interest payable quarterly in arrears with Finsbury Nominees
Limited, a client of Fairfax I.S. plc, a UK investment bank.

10. Contingencies

The Company's Subsidiary has entered into a finance leasing agreement with GCVF.
The liabilities of the Company's Subsidiary pursuant to such agreement are
secured by fixed and floating charges and guarantees given by the Company and
Company's Subsidiary. Under the terms of the agreement, penalty clauses up to a
maximum of the outstanding charges discounted at 3% are payable on early
termination.

10. Contingencies (continued)

In December 2003 Hanco ATM Systems Limited ("Hanco") made significant claims
against Carl Thomas and Cashbox ATM Systems Limited ("Subsidiary") including an
allegation that Carl Thomas diverted a business opportunity from Hanco to
Cashbox, namely a contract for the installation of ATMs with the Thresher Group.
Both the Company's Subsidiary and Carl Thomas vigorously denied these claims.

The Company and the Company's Subsidiary have obtained a joint and several
indemnity from both Carl Thomas and Anthony Sharp against any liability of the
Company or the Company's Subsidiary arising from or in connection with this
litigation to pay any sum for damages awarded in respect thereof by a court of
competent jurisdiction (including all sums payable to the legal advisers of
Hanco) or for any agreed settlement in respect thereof.

11. Non-GAAP terms

EBITDA is earnings before interest, tax, depreciation, amortization, exceptional
items and minority interests and equals operating income before exceptional
items plus depreciation and amortization. EBITDA, which we consider to be a
meaningful measure of operating performance, particularly the ability to
generate cash, does not have a standard meaning under UK GAAP and may not be
comparable with similar measures used by others.

unaudited unaudited as restated

6m ended 6m ended Year ended
31-12-06 31-12-05 30-6-06

#'000 #'000 #'000

Operating loss (1,558) (783) (3,396)

Add back:

Exceptional items - - 1,179

Share based payments charge 117 - 71

Depreciation 130 48 98
--------- --------- ---------

EBITDA (1,311) (735) (2,048)
--------- --------- ---------

blackbear
30/3/2007
07:04
Where are they?

The Company expects to be able to provide further details of the above with the
Company's Interim Results for the 6 month period ended 31 December 2006, which
will be released on Friday 30th March 2007.

Sack the courier!

gg

greengiant
29/3/2007
10:07
GG: A question I often ask myself!
sandbank
28/3/2007
12:40
Sandbank - Out of interest WHY?

TIA

gg

greengiant
28/3/2007
12:25
GG: I am long
sandbank
28/3/2007
10:06
PS - Tried to log on to their website - down.

Decision made - keep shorting

gg

greengiant
28/3/2007
10:03
Interesting rise today for no apparent reason, does someone know something before results. Not optimistic about this one and have been shorting since 22p.

Do I close my short? Expecting a fundraising announcement with the results.

Decisions Decisions

gg

greengiant
27/3/2007
13:22
pathetic volume, very suprised.
blackbear
26/3/2007
21:51
RNS Number:7535T
Cashbox PLC
26 March 2007


Cashbox PLC ("Cashbox" or "the Company")

New Loan Facility and Notice of Interim Results


Cashbox is pleased to announce that the Company has secured #2M of debt funding
from the clients of Fairfax I.S. plc, a UK investment bank.

In addition, the Board is considering an equity issuance as part of the long
term financing strategy of the business.

The Company expects to be able to provide further details of the above with the
Company's Interim Results for the 6 month period ended 31 December 2006, which
will be released on Friday 30th March 2007.

blackbear
26/3/2007
15:07
Cashbox says ceased talks on possible offers for co

LMAO.....

LONDON (AFX) - Cashbox PLC, the independent supplier and operator of ATMs,
said it has terminated discussions with parties regarding possible offers for
the company.
It said none of the discussions were proceeding as rapidly as it would have
liked and that it was not aware of any potential "bona fide offerors".
On Feb 2, Cashbox said it had received expressions of interest which may
have led to an offer being made to acquire the company.

blackbear
21/3/2007
21:10
Ah yes the fall guy...... everyone else is clean RIGHT?
blackbear
21/3/2007
17:32
Just in case your reading this Carl, here's a URL that you might find useful;




Cashbox PLC
21 March 2007



Cashbox plc

Directorate Change


Further to the announcement on 13 February 2007, the Board appointed a
Non-Executive Director to complete an investigative review of the circumstances
surrounding the share dealings by Carl Thomas. On 20 March 2007, Carl Thomas was
dismissed without notice as CEO, director and employee of Cashbox plc and all
its subsidiaries with immediate effect after a full disciplinary process. Carl
Thomas has a right to appeal against this decision, however at the present time
no appeal has been received.

Chairman Anthony Sharp has executive responsibility for an interim period until
a new Chief Executive is appointed and a search will commence shortly.



Enquiries:

Cashbox PLC 0870 126 2274
Anthony Sharp, Executive Chairman

Threadneedle Communications 020 7936 9606
Josh Royston/Graham Herring

Seymour Pierce Ltd 020 7107 8000
Jeremy Porter

ron manager
15/3/2007
23:58
The Cashbox model relies on the host of the ATM to make it work ie - fill it with cash, we all know what tight cash regimes some of the smaller store outlets run on so i am not surprised to see them at the bottom of the tables.
A bidder at 4 x revenue i think not i remain short.

blackbear
15/3/2007
21:30
Hillbrown - you are probably right that the deal is still on. In my view the only people who could be thinking about buying this lot is Note Machine. It would add to their portfolio of poor performing sites!

See web site Notemachine.com - they have made two acquistions this year and seem to be well funded. Questions and problems may arise when people start asking why they have bought companies at the bottom end of the market. My access to the LINK stats show that Note Machine, Scot Tod,TRM and Cashbox are the 4 worst IADs (Independent ATM Deployers) for transactions. The big boys like Cardpoint,Travelex and Bank Machine have 5 x more transactions that some of these!

badlad21
11/3/2007
17:52
Having announced that they were in discussions if they have now finished discussions they would have to publish a termination of discussions statement.
As that has not happened despite the bad publicity its safe to assume that the deal is going ahead. The fundementals have not changed but if I was the buyer I would certainly be trying to get the price reduced. I still expect it to happen probably in about 6-8 weeks time after full due diligence, which may have started.

hillbrown
09/3/2007
16:33
Another 2p rise or so would be very welcome on this lame deal announced yesterday.
blackbear
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