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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cmo Group Plc | LSE:CMO | London | Ordinary Share | GB00BMB5Y385 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.50 | 14.00 | 15.00 | 14.50 | 14.50 | 14.50 | 1,428 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Catalog, Mail-order Houses | 71.5M | -1.84M | -0.0255 | -5.69 | 10.44M |
RNS Number:2585X Comino Group PLC 16 January 2001 COMINO GROUP LAUNCHES COMINO TECHFLOW LIMITED SUBSIDIARY WITH APPOINTMENT OF MANAGING DIRECTOR Comino Group plc (Comino), the provider of software solutions for the local government, housing association and occupational pensions sectors, announces it has established a new subsidiary, Comino Techflow Limited, to progress the opportunity referred to in the interim statement dated 20 November 2000. It has appointed Phillip Hunter as Managing Director of Comino Techflow to head this new operation. The new subsidiary will be based at Comino's head offices in Buckinghamshire. In the November statement, the company said: "The group has identified another product opportunity in a growth sector which is new to Comino but one where its application expertise and existing product strategy can be applied. A new subsidiary with a new Managing Director and staff will invest a limited amount to develop the concept and produce exact specifications. Following a formal review, more detail will be released to shareholders after establishing some competitive advantage but prior to investing in the full development." Comino Techflow has been established to take that work forward. Its newly appointed Managing Director, Phillip Hunter, 45, is a Chartered Accountant and a former Divisional Managing Director of a Misys plc subsidiary. Commenting, Garth Selvey, Comino's Chief Executive, said: "We have known and worked with Phillip Hunter for a number of years and are delighted that he is joining us. He has the skills to help Comino grow this project into a significant operation." Comino Techflow is 80% owned by Comino Group. The remaining shares, reserved for existing and future employees, are the subject of various put and call options between Comino and the minority shareholders. The price to be paid by Comino for the minority shareholding is based on a formula which makes reference to a discount of 20% to the group's pe ratio at the time of exercise applied to the post tax profits of Comino Techflow. The maximum consideration for the minority shareholding, payable in shares or cash at Comino Group's option, is #12 million. According to the formula, this maximum payment would equate to pre-tax profits of #3.57m in Comino Techflow using 30 as an illustrative price earnings ratio. For further information please contact: Garth Selvey, Chief Executive, Comino Group plc Tel: 01628 525 433
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