Conduity Capital Share Discussion Threads

[andre] 23/12/2022 15:05

The board wishes to thank Mr. Lee for his contribution..... to the utter failure of CCAP and the redistribution of PIs money to whoever dips their hand in the pot next. Imho

[ronson333] 22/12/2022 14:29

Jana Zdravecka has a connection with Peterhouse I think, they better not be doing a placing at ‘mates rates’, remember Peterhouse are the ones that recommended Smartech in the first place.

[ronson333] 22/12/2022 12:17

Conduity announces that Mr Nicholas Lee will be stepping down from the Board of Conduity, effective 31 December 2022. The Board wishes to thank Mr Lee for his contribution to date and wishes him well in his future endeavours.

At the same time, Jana Zdravecka will be joining the Board as a non-executive director effective 31 December 2022. Ms Zdravecka is a qualified chartered accountant with over 15 years of experience in the banking and financial services sector. She is currently CEO of London Capital Group Limited. Prior to this, she worked at HSBC in the regularly reporting leadership team.

[ronson333] 22/12/2022 08:50

Nick Lee steps down and heard he’s taking a job at Smartech…Should be ashamed of himself.

[letsdothis] 21/12/2022 11:27

Where's my money ?

[bekindnotblind] 15/12/2022 09:12

I want my new shares where are they ?

[onsideman] 13/12/2022 08:15

That's about right

[andre] 13/12/2022 07:44

Financial engineering at its finest. The nepotism displayed across RGO, CCAP, Pires etc shows that whilst PIs get shafted, certain directors make out like bandits regardless. The links are all there between every company including the NOMADs. CCAP get to become another private off-market investment vehicle with non-tradable shares (but with directors who can take a salary and award themselves share options regardless at will). One director is involved in all of the investment companies involved. Expect share options aplenty come the IPO to ensure PIs get diluted at every turn. Add a dose of Irish to ensure an amount of opaqueness too.All IMHO.

[johnhelme2704] 01/12/2022 14:36

About 350k gbp

[newvest1] 01/12/2022 13:48

Any idea what costs we can realistically expect? Does it mean Conduity is basically dead duck now?

[master rsi] 01/12/2022 12:50

IPO Smarttech247 market cap £36.8M

Smarttech247 eyes GBP37 million IPO after rebuffing Conduity Capital

(Alliance News) - Smarttech247 Group PLC said on Thursday that it intends to list on London's junior AIM market, in "a new and exciting chapter" for the cybersecurity services provider backed by Pires Investments PLC and RiverFort Global Opportunities PLC.

Pires and RiverFort noted the announcement, as did Conduity Capital PLC, which had previously planned to acquire Smarttech247.

The Cork, Republic of Ireland-based artificial intelligence-enhanced cybersecurity services provider Smarttech247 said it expects to list on the London Stock Exchange's AIM market on December 15.

"We are excited to announce our intention to float on AIM, which represents a new and exciting chapter for the company," Smarttech247 Chief Executive Officer Raluca Saceanu said.

"Smarttech247 has demonstrated the effectiveness of its products with its wide range of existing clients and is embarking upon a campaign to win new mandates across Europe and the USA. The AIM quotation will provide us with the chance to raise the company's profile, fund the development of our proprietary technology and expansion into new products and geographies. We are well positioned to grow and benefit from a number of industry trends."

Smarttech said it plans to raise GBP3.7 million at GBP0.2966 per share. It expects a market capitalisation of GBP36.8 million on admission.

RiverFort Global and Pires Investments both said they were pleased Smarttech247 formally announced its intention to list, having both invested in May 2021.

Conduity Capital said it would be reimbursed for all costs incurred over its proposed, and failed, reverse takeover of Smarttech247, which will then be used to subscribe for new shares in the initial public offering.

Back in August last year, Conduity announced plans to buy Smarttech247 for GBP33.5 million through the issue of new Conduity shares.

In September, however, Conduity said that Smarttech247 decided it will seek a quotation by way of a direct IPO rather than by a reverse takeover.

[kemche] 01/12/2022 09:30

No news on CCAP costs/shareholding in Smartech247?

[kemche] 02/10/2022 10:45

Well that's me utterly ruined! Never in my wildest imagination did I expect such a terrible outcome. I have poured my life savings into these and will now see out the rest of my days in utter penury. If only someone had taught me the rudiments of position sizing and risk management.

Woe is me. Sob and sigh!

[hedgehog 100] 01/10/2022 17:10

"Smarttech247 set for stock market flotation at valuation of over £30m
The IT security company has opted to achieve its listing by a direct IPO, which allows it to list its shares without raising any money
BARRY J WHYTE SEPTEMBER 24, 2022

Smarttech247, one of Ireland’s top IT security firms, is planning to list on the stock exchange next month at an estimated valuation of £34.5 million. ...

However, last week it was announced that Smarttech247 had decided it would prefer to achieve its listing by a direct IPO, which allows it to list its shares, but doesn’t involve the raising of any money. ...

Murphy, who is the sole shareholder in the company behind Smarttech247, said he would continue to hold around 75 per cent of the shares in the company after its listing, but that they would be held in a trust structure to comply with stock market regulations. He said he would probably sell down some of that stake in the future. ...

Murphy said that the change in the nature of the listing was an effort to simplify the process, describing it as “a cleaner route” to the market. ...

The company behind SmartTech247, Zefone Limited, had revenue of €7.2 million and profit before tax of €1.2 million in the year to July 2021, up by roughly 50 per cent on the previous year."




Thanks for the link to that above article, Boxerdogz.


"Direct Listing Process
Companies that want to do a public listing may not have the resources to pay underwriters, may not want to dilute existing shares by creating new ones, or may want to avoid lockup agreements. Companies with these concerns often choose to proceed by using the direct listing process, rather than an IPO.
The direct listing process (DLP) is also known as direct placement or a direct public offering (DPO)."



The floatation looks interesting, but not cheap given the crash in tech stock valuations this year.

The estimated valuation of £34.5M. is about the same as fourteen months ago.
There has been impressive revenue and profit growth, though that should have been factored into the valuation last year, with the new EUR6 million contract already won then.

04/08/2021 07:00 UK Regulatory (RNS & others) Conduity Capital PLC Proposed reverse takeover of Smarttech247 LSE:CCAP Conduity Capital Plc

"The Company is pleased to announce that Conduity and Smarttech247, incorporated in the Republic of Ireland as Zefone Limited, have entered into a non-binding heads of agreement to work towards the possible acquisition of Smarttech247 by the Company for a total consideration of GBP33.5 million, to be satisfied by the issue of new ordinary shares in Conduity. ("Proposed Acquisition"). ...

Information on Smarttech247

Smarttech247 is an established company in automated managed detection and response cybersecurity - a managed security service that provides threat intelligence, threat hunting, security monitoring, incident analysis, and incident response with a significant AI overlay - with a successful track record of revenue growth and profitability and is positioned at the intersection of three major cybersecurity growth markets:
-- Security threat incidents;
-- Growth of cloud adoption amongst both large and small-medium enterprises; and
-- Proliferation of cyber-security data generation that needs to be integrated.

... Furthermore, Smarttech247 has just been awarded a purchase order under this contract to the value of EUR6 million for plant level operational technology cybersecurity services.

For the period ended 31 July 2020, Smarttech247 reported audited profits before taxation of EUR829,000, revenue of EUR4.8 million and had net assets of EUR712,084. These figures represent a significant increase compared to the previous year and the management of Smarttech247 believe that the current year to 31 July 2021 will demonstrate further substantial progress ..."

[hedgehog 100] 01/10/2022 14:36

Where's Kemche, I wonder?

He's usually so quick with a sarcastic gloat when a company he follows disappoints.

But I suppose it's different when he himself is invested ...

[kaos3] 22/9/2022 07:38

never ending saga :(

[ronson333] 22/9/2022 07:18

Update:

Smarttech247 - update

As previously announced, Conduity Capital has been actively progressing a reverse takeover ("RTO") of Smarttech247, a global managed detection and response company with a leading market position in security operations.

Following the outcome of initial marketing, Smarttech247 has now decided that it would be preferable for them to seek a quotation by way of a direct IPO rather than by way of an RTO with Conduity and so will be seeking a listing on AIM in Q4 2022.

The Board of Conduity continues to believe that Smarttech247 represents an attractive investment opportunity and therefore Conduity is in the process of agreeing a refund of all costs that it has incurred to date in connection with the RTO, which would then be used to subscribe for new shares in Smarttech247 on the IPO. This should therefore still provide Conduity and its shareholders with a material investment in Smarttech247, whilst providing a full recovery of costs incurred by Conduity as part of the RTO process.

Going forward, Conduity will be working on various options with its advisers in order to create value and liquidity for its shareholders.

A further update will be provided in due course.

[sweet karolina2] 31/7/2022 07:26

I genuinely hope your RTO then IPO works out for you guys.

I use CCAP as 1 of 4 examples of why the risk / reward balance of AIM rule 15 shells does not make sense:



I genuinely welcome any comments you have on that thread - it is not too late for them yet.

[one_frankel] 18/7/2022 18:39

Hehe, what's the Asian community got to do with anything, we're just trying substantiate your rather tall claims as that renowned investor Stephen Paul Jones!

[boxerdogz] 18/7/2022 18:31

HE IS PART OF THE PROBLEM !