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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Consol. Vend. | LSE:CVD | London | Ordinary Share | GB00B1KZST66 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.125 | 0.00 | 00:00:00 |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 0.125 | GBX |
Consol. Vend. (CVD) Share Charts1 Year Consol. Vend. Chart |
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1 Month Consol. Vend. Chart |
Intraday Consol. Vend. Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/9/2008 | 11:40 | Consolidated Vending | 78 |
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Posted at 29/6/2008 09:52 by failedqs bisiboy,I'm in the same position as you, I have CVD shares via the ARC EIS fund investment I stupidly made. If ARC have sold shares to EIS customers whilst picking up an advisory fee at the same time from Con Vending, without telling the EIS customers, isn't this illegal? It would appear to be at best a huge conflict of interest to me. I would be interesed to see what the FSA have to say about this principle of the ARC business plan..... So in theory ARC sell say £100,000 of shares to a client, pick up say a £10,000 backhander from another client for selling them, and the shares then bomb.... Where was the due diligence, and why would they worry about technicalities like that if making a wedge in commission anyway?... This company stinks........... Without too much delving, it would appear that they did the same thing with Traction Technology, another one that has bombed....... |
Posted at 27/6/2008 17:54 by bisiboy hgope these go to nothing at least i can get tax releif on the lossas i foolishly subscribed to arc equiites eis groth fund in which this was the biggest holding. i have some real concerns over arc and their businrss model. if you look at any share they offer you they appear to have picked up the share in exchange for an advisory fee which is normally a 10th or less of the price at which the shares are offerd. |
Posted at 15/4/2008 13:47 by flateric Company Consolidated Vending plc TIDM CVD Headline Re Agreement with Cybervitrine SA Released 14:39 15-Apr-08 Number 2913 Consolidated Vending plc ('Consolidated Vending' or 'the Company') Consolidated Vending plc subsidiary, Snap Digital Imaging Ltd signs Distribution Agreement with Cybervitrine SA Snap Digital Imaging Ltd (Snap), the photobooth operating subsidiary of Consolidated Vending Plc has signed a distribution and operating agreement with Cybervitrine for its photobooth, the Fotopod. The agreement gives Snap the exclusive right to sell and operate the Fotopod in the UK. The Fotopod has been specifically designed for small spaces and to provide access for all. Cybervitrine claims the Fotopod is the 'world's smallest photobooth' at 0.25m. With increasing demands to ensure access for all the Fotopod provides a facility suitable for the widest range of disabilities. Whilst it is not possible at this stage to quantify the possible effect of the Cybervitrine Agreement on future revenues, the Directors believe that the Agreement will provide Snap with a competitive edge in its product offering to its customers. Andrew Coll, CEO, Consolidated Vending plc said: 'We are delighted to be working with Cybervitrine. We view the Fotopod as an ideal enhancement to our booth portfolio. Minimising space usage and providing access for all are key factors in our market today and in the future and the Fotopod brings genuine product differentiation and enhancement which will benefit our customers and users alike.' Commenting, Philippe Barcelo, Directeur Generale, Cybervitrine SA said: 'I am delighted to have secured this agreement with Consolidated Vending. We have had great success with the Fotopod in France with over 600 machines operating nationally. We fully expect our relationship with Consolidated Vending to provide similar success in the UK.' - Ends - |
Posted at 27/3/2008 17:05 by mali7 Typical share by Arc Equities, AGAIN! They should be investigated by FSA!Anyway glad I never bought these, but remember them recomending it so strongly to me... |
Posted at 02/11/2007 12:18 by double6 Nice to see MM's eating up 95k shares at touch price, with no effect on share price Still holding my WHOG - 1 week to go - will there be anything positive before the deadline ?? We all know how the MM's play their games..... |
Posted at 02/11/2007 11:28 by ace_of_trades2 well i did my own research and decided to get 200,000 as well, i cant see any reason why CVd has fallen.the photobooths look strong, and the kiddies ride business they own is profitable and expanding, the company look well placed.. the heavy fall has generated some action. |
Posted at 02/11/2007 10:54 by double6 70% Fall on no news - looks like only a couple of sellers forced the price down.Todays buys @ 0.4 and 0.44 have touched the price up to 0.26/0.49 online. |
Posted at 29/6/2007 06:18 by flateric Results posted.Consolidated Vending plc ('CV' or 'the Company') Directors' report and financial statement Chairman's statement I am pleased to present the maiden results of Consolidated Vending Plc ('CV'). CV came together on 23 June 2006 when BFresh Limited (`BFresh') was joined with Snap Digital Imaging Limited ('Snap'), at that time I was appointed Non-Executive Chairman having held the same position with Snap for the previous six years. On 13 December 2006, CV was admitted to AIM (formerly the Alternative Investment Market). These results cover the period from incorporation on 6 June 2006 to 31 December 2006, effectively being the trading period since 23 June 2006 for Snap (photobooths) and BFresh (toiletry vending). As already disclosed at the time of flotation, Snap did not renew its photobooth contract with the Post Office in 2006, having previously held the contract for some six years. Snap is the largest part of CV and the Post Office contract was the largest income stream within Snap. As a consequence of our withdrawal from the Post Office, we now have some 300 photobooths in storage for which we are seeking contracts. The terms which the Post Office were seeking for renewal were, in our opinion, uncommercial and we therefore ceded the contract to our main competitor. We continue to be unwilling to place photobooths on uncommercial terms. We consider that the terms upon which our only competitor is prepared to place photobooths do not provide a long term sustainable business, we therefore have little choice but to continue seeking to place our booths elsewhere until reality comes back to the market. We refuse to sacrifice profit and cash for the sake of top line turnover growth. Current trading is at acceptable levels within the existing Snap estate of 425 photobooths. The BFresh business is a small part of CV. We continue to refine our approach in this market place where we have over 600 machines in place. There are significant differences between the photobooth market and the toiletry vending market, in particular with toiletry vending providing a far lower weekly take per machine than photobooths. It remains our intention to bring a number of vending machine operations within the group and we are actively seeking new operations. AquaPolar has significant technical challenges to overcome in order to bring it to the UK market, our management team are working on these. Powerpod (phone battery recharging vending) is an insignificant 65% subsidiary of BFresh which we took control of on 23 June 2006, we are currently in the process of closing Powerpod down as it has proved uncommercial. These results include a very significant FRS 20 `Share Based Payments' charge of £1,168,000 for share options. The financial information of Snap and BFresh included within the Admission Document did not incorporate the effect of FRS 20 since this did not become UK GAAP ('Generally Accepted Accounting Principles') for private companies until 1 January 2006. Without this charge our results for the period would have shown a profit before taxation of £106,000. Since the year end new debt and equity financing has been obtained totalling £975,000 before costs. This funding has been utilised to repay all the 3i debt of £1.55 million at a discount of £450,000 and to assist the share purchase of Kiddies Rides (UK) Ltd for £600,000. Kiddies Rides (UK) Ltd is a UK operator of kiddie rides which will add a new product range to the Group, a wider customer base and provides synergies with the Group's photobooth business due to the similarity of locations. RJ Steele Chairman 28 June 2007 ENQUIRIES TO: Consolidated Vending plc 01494 754262 Andrew Coll andrew.coll@cv-plc.c SVS Securities plc 020 7638 5600 Ian Callaway Peter Manfield ARM Corporate Finance Limited 020 7512 0191 Nick Harriss About Consolidated Vending plc: Consolidated Vending plc operates over 1,000 vending machines throughout the UK including photobooths, purified water, toiletries and kiddie rides. CV is a British company recently listed on the London Stock Exchange's AIM market. Our business model is simple but effective: enabling site owners to profit from under-utilised space by providing relevant vending services to their customers, supported by our nationwide team of service engineers. For further information, please visit www.cv-plc.co.uk Consolidated profit and loss account for the 209 day period ended 31 December 2006 Note 209 day period ended 31 December 2006 £000 £000 Turnover 1,2 Acquisitions 1,545 Cost of sales (856) Gross profit 689 Distribution costs (502) Administrative expenses: Excluding share based payments charge (445) Share based payments charge (1,168) Administrative expenses (1,613) Other operating income (being exceptional waiver of amounts payable to third parties of £369,000) 369 Operating loss (1,057) Other interest receivable and similar income 6 48 Interest payable and similar charges 7 (53) Loss on ordinary activities before taxation 3 (1,062) Tax on loss on ordinary activities 8 - Loss on ordinary activities after taxation being the loss for the financial period (1,062) Loss per share 9 0.007p Diluted loss per share 9 0.006p All amounts relate to continuing activities which were acquired during the period. The group had no recognised gains or losses other than the loss for the current period as shown above. Movements in reserves are set out in note 20. Consolidated balance sheet at 31 December 2006 Note 2006 £000 £000 Fixed assets Intangible assets 10 Goodwill 869 Negative goodwill (69) Net goodwill 800 Tangible assets 11 1,688 2,488 Current assets Stocks 13 336 Debtors (including £42,000 due after more than one year) 14 633 Cash at bank and in hand 955 1,924 Creditors: amounts falling due within one year 15 (2,404) Net current liabilities (480) Total assets less current liabilities 2,008 Creditors: amounts falling due after more than one year 16 (309) Net assets 1,699 Capital and reserves Called up share capital 18 206 Share premium account 20 1,387 Profit and loss account 20 106 Shareholders' funds 1,699 These financial statements were approved by the board of directors on 28 June 2007 and were signed on its behalf by: AP Coll Director Company balance Sheet at 31 December 2006 Note 2006 £000 £000 Fixed assets Investments 12 128 Current assets Debtors 14 2,384 Cash at bank and in hand 727 3,111 Creditors: amounts falling due within one year 15 (806) Net current assets 2,305 Total assets less current liabilities 2,433 Creditors: amounts falling due after more than one year 16 (695) Net assets 1,738 Capital and reserves Called up share capital 18 206 Share premium account 20 1,387 Profit and loss account 20 145 Shareholders' funds 1,738 These financial statements were approved by the board of directors on 28 June 2007 and were signed on its behalf by: APColl Director Consolidated cash flow statement for the 209 day period ended 31 December 2006 Note 209 day period ended 31 December 2006 £000 Reconciliation of operating loss to net cash flow from operating activities Operating loss (1,057) Depreciation and amortisation charges 494 Profit on disposal of fixed assets (126) Decrease in stocks 64 Increase in debtors (180) Decrease in creditors (1,194) Charge in relation to share based payments 1,168 Net cash outflow from operating activities (831) Cash flow statement Cash flow from operating activities (831) Returns on investments and servicing of finance 23 (5) Capital expenditure 23 (12) Acquisitions and disposals 23 102 Cash outflow before financing (746) Financing 23 881 Increase in cash in the period 135 Reconciliation of net cash flow to movement in net debt 24 Increase in cash in the period 135 Cash inflow from increase in debt financing 630 Net debt acquired with subsidiaries (1,454) Net debt at end of period (689) Reconciliations of movements in shareholders' funds for the 209 day period ended 31 December 2006 209 day period ended 31 December 2006 Group Company £000 £000 Loss retained for the financial period (1,062) (1,023) Credit in relation to share based payments 1,168 1,168 New share capital subscribed (net of issue costs) 1,593 1,593 Net addition to and closing shareholders' funds 1,699 1,738 Notes (forming part of the financial statements) 1 Accounting policies The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. Basis of preparation The financial statements have been prepared in accordance with applicable accounting standards under the historical cost accounting rules. Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiary undertakings made up to 31 December 2006. The acquisition method of accounting has been adopted. Under this method, the results of subsidiary undertakings acquired or disposed of in the period are included in the consolidated profit and loss account from the date of acquisition or up to the date of disposal. Under section 230(4) of the Companies Act 1985 the Company is exempt from the requirement to present its own profit and loss account. The financial statements are prepared on a going concern basis notwithstanding the consolidated net current liabilities position at 31 December 2006. The directors believe this to be appropriate for the following reasons. Since the period end the company has secured additional funding from existing shareholders and debt providers. The directors have prepared projected cash flow information for the period to June 2008. On the basis of this cash flow information, the directors consider that the company will continue to operate within its available cash resources and bank facilities. Any financial forecasts by their nature contain uncertainty. Goodwill and negative goodwill Purchased goodwill (representing the excess of the fair value of the consideration given over the fair value of the separable net assets acquired) arising on consolidation in respect of acquisitions is capitalised. Positive goodwill is amortised to nil by equal annual instalments over its estimated useful life of 20 years. Any impairment charge is included within operating profits. Negative goodwill arising on consolidation in respect of acquisitions is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through depreciation or sale. On the subsequent disposal or termination of a business acquired, the profit or loss on disposal or termination is calculated after charging (crediting) the unamortised amount of any related goodwill (negative goodwill). In the Company's financial statements investments in subsidiary undertaking, are stated at cost less amounts written off. Fixed assets and depreciation Depreciation is provided to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows: Photobooths - 6 years Plant and machinery - 3 years Motor vehicles - 3-4 years Fixtures and fittings - 4-5 years Stocks Stocks are stated at the lower of cost and net realisable value. Notes (continued) 1 Accounting policies (continued) Pre-contract costs When the company engages in negotiating significant contracts and incurs directly attributable pre-contract costs, these are capitalised within debtors and written off over the life of the contract from the commencement of the revenue flow, once there is a high degree of certainty that a contract with a positive net present value will be obtained. Foreign currencies Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account. Taxation The charge for taxation is based on the result for the period and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Except where otherwise required by FRS 19 full provision, without discounting, is made for all timing differences which have arisen but not reversed at the balance sheet date. Leases Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included in creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments. All other leases are treated as operating leases and rentals are charged to the profit and loss account on a straight line basis over the life of the lease. Post-retirement benefits The company makes contributions to defined contribution pension arrangements on behalf of certain employees. The assets of the scheme are held separately from those of the company in independently administered funds. The amount charged against profits represents the contributions payable for the period. Share based payments The fair value of shares or options granted after 7 November 2002 is recognised as an employee expense on a straight line basis in the profit and loss account with a corresponding movement in equity. The fair value is measured at grant date and spread over the period during which the employees become unconditionally entitled to the options (the vesting period). The fair value of the options granted is measured using an option pricing model, taking into account the terms and conditions upon which the options were granted. The amount recognised as an expense is adjusted to reflect an estimate of the number of shares or options that are expected to vest. The fair value of shares or options granted has been determined using the Black-Scholes model. Cash Cash for the purpose of the cash flow statement comprises cash in hand and deposits repayable on demand less creditors payable on demand. Turnover Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers, the substantial majority of which arose in the United Kingdom in relation to its principal activities. Notes (continued) 2 Segmental analysis The directors consider that substantially all of the group's turnover originates from and is sold into the United Kingdom. An analysis of the group's turnover by market segment is as follows: 209 day period ended December 2006 Photobooths Toiletries Total £000 £000 £000 Turnover 1,459 86 1,545 Operating (loss)/profit (1) 75 74 Net interest 11 (16) (5) Segment profit before taxation 10 59 69 Share based payments charge (1,168) Net common income 37 Group loss before taxation (1,062) Substantially all of the group's net assets originate in the United Kingdom. An analysis of the group's net assets by market segment is as follows: 31 December 2006 Photobooths Toiletries Total £000 £000 £000 Net segment assets 798 212 1,010 Unallocated net assets 689 Consolidated net assets 1,699 Notes (continued) 3 Loss per share Basic The basic loss per share is calculated by dividing the loss after taxation of £1,062,000 by the weighted average number of ordinary shares in issue during the period of 153,412,178 ordinary shares of 0.1p each. Diluted The diluted loss per share is calculated in accordance with Financial Reporting Standard 22 ('FRS 22'). This calculation uses a weighted average number of ordinary shares in issue adjusted to assume conversion of all dilutive potential ordinary shares as shown below: Loss Weighted Loss per number of share shares (pence) £000 Basic loss per share 1,062 53,412,178 (0.007) Effect of dilutive securities: Employee share options - 36,730,769 0.001 1,062 190,142,947 (0.006) FRS 22 `Earnings per share' requires presentation of diluted earnings per share when a company could be called upon to issue shares that would decrease net profit or increase net loss per share. For a loss making company with outstanding share options net loss per share would only be reduced by the exercise of in-the-money options. Since it seems inappropriate to assume that option holders would act irrationally no adjustment has been made for out-of-the-money options. 4 Called up share capital 2006 £000 Authorised: 1,000,000,000 ordinary shares of 0.1p each 1,000 Allotted, called up and fully paid: 205,789,474 ordinary shares of £0.1p each 206 The company was incorporated on 6 June 2006 with an authorised share capital of £1,000,000 divided into 100,000,000 Ordinary shares of £0.01 each, of which 2 such Ordinary shares were taken up by the subscribers. On 6 June 2006, the share capital was subdivided into 1,000,000,000 Ordinary shares of 0.1p each. On 23 June 2006 the company issued 50,199,980 Ordinary Shares and the 20 Ordinary Shares issued on incorporation (as they had become) were credited as fully paid in cash. On 23 June 2006, the company entered into the BFresh Purchase Agreement with the BFresh Vendors under which (as amended) the company agreed to purchase the entire issued share capital of BFresh Limited for a consideration of 82,200,000 Ordinary Shares of 0.1 pence each in the company. On 23 June 2006, the company issued 27,600,000 Ordinary Shares credited as fully paid in cash for 0.18p each. On 17 November 2006, the company allotted 10,789,474 Ordinary shares to SVS Securities plc for cash at par, conditional on Admission. On 6 December 2006, the company allotted 35,000,000 Placing Shares to the Placees conditional on Admission credited as fully paid at the Placing Price. The issued share capital of the company on Admission was therefore 205,789,474 Ordinary Shares, all of which are fully paid up. On 23 June 2006 BFresh Limited lent the company £255,000 by way of an interest free loan. 5 Share premium and reserves Group Share premium Profit and account loss account £000 £000 Arising on share issues (net of issue costs) 1,387 - Loss for the period - (1,062) Reversal of charge in relation to share based payments - 1,168 At end of period 1,387 106 Company £000 £000 Arising on share issues (net of issue costs) 1,387 - Loss for the financial period - (1,023) Reversal of charge in relation to share based payments - 1,168 At end of period 1,387 145 The profit of the holding company dealt with in these accounts amounted to £145,000. The cumulative amount of goodwill arising from acquisitions in current financial period is £22,000. 6 Analysis of cash flows 209 day period ended 31 December2006 £000 £000 Returns on investment and servicing of finance Interest paid (53) Interest received 48 (5) Capital expenditure and financial investment Purchase of tangible and intangible fixed assets (12) (12) Acquisitions and disposals Purchase of subsidiary undertakings (718) Net cash acquired with subsidiaries 820 102 Financing Issue of ordinary share capital 1,511 New loans 1,300 Repayments of amounts borrowed (1,896) Capital element of finance lease payments (34) 881 7 Analysis of net debt Cash flow Acquisitions At end of period £000 £000 £000 Cash at bank and in hand 135 820 955 Debt due within one year (1,306) (29) (1,335) Debt due after one year 1,936 (2,245) (309) Total 765 (1,454) (689) |
Posted at 28/6/2007 11:41 by flateric Announcement...CONSOLIDATED VENDING PLC ("CV" or "the Company") Acquisition of Kiddies Rides (U.K.) Limited ("KR") Equity placing to raise £337,174 Issue of convertible debentures to raise £625,000 Other financing arrangements CV, the operator of photo booths and vending machines for quality miniature toiletries through health clubs, is pleased to announce that, on 27 June 2007 (the "Completion Date"), it acquired the entire issued share capital of KR for a total consideration of £600,000, including £150,000 to be paid by way of an earn out. The KR business KR started trading in November 1999 and operates coin-operated rides for children throughout the UK, under agreements with supermarkets, high street retailers, shopping centres and a number of independent site owners. KR has 357 rides available over 169 sites. The company will provide CV with a new product range, a wider customer base and synergies with CV's photo booth business as a result of the similarity of locations. In the year ended 31 October 2006, KR had turnover of £938,721, EBITDA of £155,839 and profit before tax of £45,780. At that date, KR had net assets of £107,334. Financing arrangements for the acquisition of KR and additional working capital On the Completion Date, the Company placed 22,667,209 ordinary shares of £0.001 each (the "Placing Shares") at £0.014875 per share ("the Placing Price") with funds managed by Arc Fund Management Limited, to raise £337,174 before expenses. The Company has entered into the following arrangements with Trafalgar Capital Specialized Investment Fund - FIS ("TCSIF" or the Lender"): 1. The Lender has advanced a convertible loan of £625,000 to the Company. Redemption will commence 12 months from the Completion Date. £425,000 plus accrued interest will be repaid over 12 months in equal instalments. The final £200,000 plus accrued interest will be repaid 24 months after the Completion Date. Interest will accrue on the outstanding amount at a rate of 8%. The lender shall be entitled to convert the loan into CV ordinary shares (up to the outstanding amount of the loan, but capped at an upper limit such that the conversion shares do not exceed 2.99% of the total number of CV ordinary shares in issue) with effect from the sixtieth day after the Completion Date. The conversion price is the lower of a fixed conversion price and 85% of either the lowest volume weighted average price for the 5 trading days before conversion or CV's broker's bid price. The fixed conversion price is itself the lower of the Placing Price and the volume weighted average price on the Completion Date. In addition, the lender has been granted warrants over up to 1,200,000 CV ordinary shares, exercisable at nominal value at any time within 5 years of the Completion Date. 2. CV has entered into a committed equity facility whereby CV has the right, subject to approval by TCSIF of the first requested subscription, to sell to TCSIF up to £2,000,000 of CV ordinary shares over the next 30 months at a price equal to the lowest volume weighted average price over the 5 days following CV's subscription request. Terms of the acquisition The consideration for the acquisition is £600,000, and was paid as follows: 1. £300,000 in cash. 2. £150,000 in CV ordinary shares at a price equivalent to the Placing Price (10,084,034 shares – the "Acquisition Shares"). 3. £150,000 to be payable in cash within the next eighteen months, subject to adjustment, up or down, depending on KR achieving an aggregate gross profit of £462,153 (as defined in the Sale and Purchase Agreement), computed on a monthly basis, within 12 months of the Completion Date. In addition, CV has procured the repayment of a KR director's loan to KR. This consists of £60,000 paid in cash, £50,000 satisfied in CV ordinary shares at a price equivalent to the Placing Price (3,361,344 shares – the "Director's Loan Shares") and £103,000 to be paid in cash in equal monthly instalments over the next 18 months. CV has also facilitated the settlement of certain finance and lease hire obligations of KR, totalling approximately £78,500. The cash elements of the consideration for the acquisition and the repayment of the director's loan are to be funded through the use of the financing arrangements described above. Part of the proceeds of the financing arrangements will be used to complete the repayment of a loan of £1 million from 3i Group plc for £650,000, a gain for CV of £350,000. A total of 53,087,377 CV ordinary shares have been issued consisting of Placing Shares, Acquisition Shares, Director's Loan Shares and shares issued in lieu of cash fees for financing and advisory costs (16,974,790 shares). Application has been made for the new ordinary shares to be admitted to trading on AIM and it is expected that Admission will be effective on 4July 2007. Upon admission of these shares to AIM, the Company will have 258,876,851 ordinary shares in issue. The report and financial statements of CV for the 209 day period to 31 December, 2006 will be released no later than 30 June 2007. The Company announces that it has changed its Registered Office to Woodside Corporate Services, 4th Floor, 150-152 Fenchurch Street, London, EC3M 6BB. Commenting on the acquisition and the financing arrangements, Andrew Coll, Chief Executive Officer, said: "We are delighted to have completed our first acquisition since being admitted to AIM in December 2006. Kiddies Rides introduces a new product range to our group and broadens our customer base. There will be benefits from engineering and servicing efficiencies because of the similarity of the locations of rides in Kiddies Rides and in our Snap photo booth operation. The new financing arrangements will provide the enlarged group with the flexibility to develop the existing businesses and to make further acquisitions should opportunities become available." Enquiries: Andrew Coll 01494 513927 Chief Executive Officer Nick Harriss 020 7512 0191 ARM Corporate Finance Ltd Robert Kretowicz 020 7638 5600 SVS Securities plc Paul Quade 020 7248 8010 Cityroad Communications mobile: 07947 186694 |
Posted at 24/12/2006 10:00 by alansmith23 Recently floated on AIM, CVD's offer price was 3p compared to a current market mid-price of 3.88. Market Cap is 7.97m at this share price Snap Digital Imaging, Europe's second largest photo booth player behind Photo-me, is owned by the holding company Consolidated Vending. It also owns Bfresh, an operator of 500 machines which stock miniature toiletries, located usually in healthclubs and supermarkets. Bfresh itself has a 65% holding in Powerpod Holdings plc, which supplies public, coin-operated chargers for mobile phones?!? Snap made a profit of £300,000 last year on sales of £7.8m, will see its chief executive, Andew Coll, head Consolidated Vending. The holding company, which is backed by 3i and Arc Fund Management, hopes to lead a consolidation of the vending industry. According to Consolidated's plan, every additional operator it buys will boost its earnings from day one as duplicate costs are removed. CVD is also trialling other vending machine concepts, which include B Snappy (disposable cameras) and Quick Vote (which provides a retail electronic marketing tool) Also CVD claims it's identified a number of suitable acquisition opportuniteis to underpin it's growth. Ok, that's the blurb, not sure what to make of this one, as usual with AIM floats it's hard to discern what the effects of the corporate structure will be, ie the company that sold B Fresh to CVD, accepted shares in CVD as payment and have declared they intend to sell them into the market. Also directors will have a sizeable stash and may look to cash in at a premium to the float price of 3p. Otherwise it looks like a solid company with a very workable plan to consolidate the very fragmented vending industry and will quite likely become a takeover target itself in time. In the interim it has reliable revenue streams and is already a functional profitable company. I haven't got any (yet) but will take a look, all depends on the spread and whether I want to take a little flyer on this for 2007. Anyway, will add it to the advfn billboard. ( where I have a feeling it may well sink into obscurity) |
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