Coms Share Discussion Threads

[cgod] 18/4/2015 07:56

Sources: Coms calls on corporate financer to flog telco biz

Board sets two week deadline to get shot of voice unit


Embattled London-listed corporation Coms plc has tasked Knight Corporate Finance with finding a buyer for its voice division – and sources tell us that time is of the essence.

The business comms outfit, which split with CEO David Breith in February after a boardroom bust-up, enlisted Paul Billingham, founder at Knight, last week to manage a “fire sale”.

People close to the matter reckon Knight was given just a fortnight to seek out a buyer. “That tells you all you need to know about the state of finances”, said one contact.

“The business is falling apart. It is completely tragic,” he added.

The backbone of the telco unit is comprised of various acquisitions that Coms made in recent years, including unified comms dealer Actimax, a loss-making entity that cost £3.4m to buy.

The buy-and-build plan dreamed up by ex-boss Breith also led to the purchases of CloudXL and the ICT infrastructure, data centre and smart building solutions subsidiaries at Redstone.

Coms’ revenues grew to £23.1m in the six months to July 2014, up from £2.47m in the same period a year earlier – due to the acquisitions – but it made a loss of £214k versus a loss of £118k.

Breith put together a restructuring plan to counter the losses, but this didn’t yield the expected savings, and in February the board called on a new non-exec director to beef up the finance function.

This led to a series of embarrassing public filings, including Breith calling a general meeting to remove certain directors – a point he later backed down on later the same day. It also emerged that the ex-CEO had bought company shares without telling the board.

A week later, in early March, Breith quit and apologised for buying the shares, and he has since offloaded them. The share price has slumped from more the six pence last May to around a penny.

We asked Coms and Knight Corporate Finance for comment, but neither has responded. ®

[ibug] 17/4/2015 17:25

Coms notes speculation over telecoms arm

17 April 2015 | 16:03pm

StockMarketWire.com - Coms has noted recent speculation concerning the future of its telecoms operations and says that it has received a number of expressions of interest concerning various businesses in recent months.

Coms says the board has appointed an adviser to assist in evaluating its business opportunities. This process may or may not result in the disposal of one or more of the group's businesses.



At 4:03pm: [LON:COMS] Coms PLC share price was -0.03p at 0.9p


Story provided by StockMarketWire.com

[susiebe] 17/4/2015 16:39

cgodYou are assuming a lot there!They have received interest in recent months.How does this imply that they are having to sell quickly?Seems to me they are taking a sensible approach to restructuring the business.

[dropcable] 17/4/2015 16:20

Post to LSE in respect of the El Reg article removed.

13:31 Jabbadhutt 'Deal or no Deal'



Censorship or WTF?

[cgod] 17/4/2015 16:02

Could not raise any money, now has to sell part of the business quickly, not good. Run for the hills.
DB has taken his money while he could then, some thing back is better than nothing.

[eric moreorless] 17/4/2015 14:18

Also note from todays newsletter they have restructured, all points towards avoiding a placing, maybe why the share price has doubled this week.

hxxp://dmtrk.com/2004-36FTB-32/sv.aspx

[fgump] 17/4/2015 14:14

You're assuming that the telecoms business has a value! Most of it was stuff David Breith bought from himself and the original Coms never made any money. The speed of the process means the price will be low in any case. At least the Redstone business that will be left is a good business.You just have to hope that it hasn't been impacted by all the hassle.

[eric moreorless] 17/4/2015 14:02

That's actually the good news as I believe they are selling off the non performing assets to avoid a placing, ties in with what I amk hearing , part of the restructuring process apparently, also see their newsletter posted on twitter today, confirms restructuring and all entities now under one roof, also advertising for staff.

Thanks for posting that dropcable - all good news.

[dropcable] 17/4/2015 13:27

Sources: Coms calls on corporate financer to flog telco biz

Board sets two week deadline to get shot of voice unit

Embattled London-listed corporation Coms plc has tasked Knight Corporate Finance with finding a buyer for its voice division – and sources tell us that time is of the essence.

The business comms outfit, which split with CEO David Breith in February after a boardroom bust-up, enlisted Paul Billingham, founder at Knight, last week to manage a “fire sale”.

People close to the matter reckon Knight was given just a fortnight to seek out a buyer. “That tells you all you need to know about the state of finances”, said one contact.

“The business is falling apart. It is completely tragic,” he added.

[eric moreorless] 16/4/2015 09:51

Actually its not as you will out soon.

Lots of things happening.

[little minx] 15/4/2015 16:34

Well somebody is accumulating

[big7ime] 15/4/2015 16:16

0.8 - 0.8 at the times of your posts doesn't give anything, anyone can make posts in hindsight that they gave the heads up to their mates a day ago, three weeks ago or whatever. Why not post on the thread at the time

[bad robot] 15/4/2015 15:22

Dear BT

What the price last thursday-friday? I gave heads up to my folk’s 0.50-0.52p last week.

And yes I said to consider taking 100% profit yesterday. No executive order from me. Was that wrong too?

Did you not say why it would rise today? But it did rise in the morning and of course some will take 120%
Regards,
BR





Bad Robot 14 Apr'15 - 16:32 - 4766 of 4794 0 0 edit


Bad Robot 13 Apr'15 - 10:25 - 4750 of 4765 1 1 edit

Glad the boys who got my heads up on friday morning at 0.5p are creaming it. You know who you are.

Target is still 1p (IMHO) and feel free to take profit 100%

[little minx] 15/4/2015 14:12

It is a better return than a bank

[treeshake] 15/4/2015 14:11

That's a long time to wait for 100 percent

[yashdi] 15/4/2015 14:04

I dont think they will do a placing till they have appointed a CEO. Investors need to know who they are backing, lets wait and see This company is expected to make a turnover of roughly 40-50m £26m at half year end, a company that turnover this amount of money is surely worth more than £20m. Once they sort out their board and sort out their finances this stock will rise I can see it being worth 2p by the end of the year.

[eric moreorless] 15/4/2015 13:52

I believe they will be more than ok....

[little minx] 15/4/2015 13:46

Looks like some poor pi's have fallen for Benson01 post re placing.

Never believe anything you read on a BB - always make your own decisions.

I believe COMS has a number of predators.

[big7ime] 15/4/2015 13:11

BR you posted your "tip" after the rise at offer 0.8,and now you saying sell? after a fall, bid at 0.8. Clever that, if any idiot follows you then more fool them.

[little minx] 15/4/2015 12:59

How do you know thatI think they are filling orders at a specified price

[benson01] 15/4/2015 12:52

By all accounts, a placing is being filled at 0.5p.

I am undecided weather to partake.

GL all