Share Name Share Symbol Market Type Share ISIN Share Description
Datatec LSE:DTC London Ordinary Share ZAE000017745 ORD ZAR0.01(DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 310.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
285.00 335.00 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 4,912.29 33.64 1.13 273.4 609
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 310.00 GBX

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kenway: Digital Classics PLC - Trading Update and Result of EGM •Website •Fundamentals •Share Price For immediate release: 21 February 2006 Digital Classics Plc ("Digital Classics" or the "Company") Trading Update, Result of EGM & Appointment of Directors Digital Classics is pleased to announce that, at the EGM of the Company held this morning, all the proposed resolutions were passed, including the resolutions that will permit the completion of the acquisition of Done and Dusted Group Limited ("Done and Dusted"), believed to be the UK and Europe's leading independent producer of pop and rock music event programming for TV and DVD. In his address to shareholders, Chief Executive of Digital Classics, Chris Hunt , made the following comments, "The acquisition of Done and Dusted follows two similarly high profile acquisitions at the end of last year, being the purchase of NBD Television, the pop music programme distributor and BOX TV, the major drama production house. The coming together today of these three companies with our existing operations stands the enlarged group as Europe's pre-eminent independent producer and distributor of arts, musical and dramatic television programming. I am delighted to note that the trading performance of both NBD Television and Box TV since their acquisition in December has been ahead of our expectations. NBD Television has benefited from new video-on-demand deals in the Far East and the first territory sale of a high profile American television series for $500,000. Meanwhile, Box TV, following the success of its BBC New Year production of Sweeney Todd, starring Ray Winstone, is in negotiations to produce an ITV `Mini-Series' which may be valued at over £2 million as well as a major BBC drama event - both projects are anticipated to be produced this calendar year, and are over and above the previously projected 2006 slate. The benefits of synergy between the subsidiaries are already being felt: Digital Classics Distribution and NBD Television are currently exploring a number of cross-selling opportunities of each others' programmes to complement deals that are being worked on at present and Digital Classics Distribution also anticipates being able to distribute the new Box TV product. On the production side, both Box TV and Iambic Productions are co-developing a number of projects. It is envisaged that the enlarged group, particularly in the distribution area, will realise attractive cost savings resulting from the integration of the acquired businesses." Simon Pizey, Managing Director of Done and Dusted, said, "I view the acquisition of our business by Digital Classics as the coming together of forces to build a much more substantial TV production and distribution powerhouse. Whilst a great deal of time and effort has been spent building D&D into the business it is today, to us this marks only the beginning of the next phase in our growth." Co-founder of Done and Dusted, Hamish Hamilton, added, "I look forward to working alongside the highly talented individuals at the enlarged Digital Classics group and to generating significant value on a worldwide scale." Notice of Results The Company looks forward to publishing its interim results for the six months to 31 December 2005 on Monday 20 March 2006. Admission of Enlarged Share Capital and Change of Name Application has been made for the enlarged issued ordinary share capital of 2,963,315,714 shares, comprising the 1,313,096,484 existing shares, the 721,875,000 consideration shares to be issued pursuant to the acquisition and the 928,344,230 new shares to be issued pursuant to the placing, to be admitted to AIM. Admission is expected to become effective at 08h00 on 23 February 2006. These shares will rank pari passu with the existing ordinary shares of the Company. Following Admission, the number of Ordinary Shares in issue will total 2,963,315,714 Ordinary Shares. Although the resolution permitting the change of name was passed, this is not indicative that this will be actioned immediately. A further announcement will be made in due course. Subscription for and issue of Loan Notes Further to the £4,000,000 in Loan Notes subscribed for and issued following the acquisition of NBD Television and Box TV, the Company can confirm that a further £2,500,000 were subscribed for and issued to satisfy the balance of the cash consideration under the Acquisition Agreement. The Loan Notes are convertible into Ordinary Shares at a rate of 0.78p for each Ordinary Share, subject to adjustment, at the option of the Investors, being Highbridge Capital LLC, Omicron Master Trust, Cranshire Capital L.P. and Iroquois Capital L.P. Appointment of Directors Following today's EGM, the Board is pleased to appoint Nicola Davies Williams, Director of NBD Television and Justin Thomson-Glover, Director of Box TV as Executive Directors of Digital Classics Plc with immediate effect. Simon Pizey, Director of Done and Dusted, will also be joining the board of Digital Classics in due course. Save for the declarations below, and the issue to Justin Thomson-Glover and Nicola Davies Williams of options over 2,500,000 and 3,750,000 ordinary shares at 0.8p per share respectively upon Admission, there are no updated disclosures to be made in respect of the appointment of Justin Thomson-Glover and Nicola Davies Williams under rule 17 and under Schedule 2 paragraph (g) of the AIM rules.
johnmp: whats this blue stuff, two days running. Dont tell CH else he will issue a RNS saying their is no known reason for the current rise in DTC share price? John
investorjon: Trouble is Michael we just don't know what the assets actually are. Remember the contents debate, where suddenly from 3000 hours of owned, it was 3000 hours owned or under the control CH then suggesting we only owned 100's of hours outright. I don't think this company is a pile of poo has just been run like a pile of poo. But we are not talking about a blue chip company here are we. We are talking about an AIM investment that is real penny share and still is. I don't know what the NAV really is, and to be quite honest I don't think if a company gets into trouble it makes a blind bit of difference....How many people go to a auction and say "Oh well I must pay asset value"? I well remember Albert Fisher (share) where the nav was way over the decrepid share price.....but what did shareholders get....zilch. Talk of demise of DTC is premature though...Surely the RNS didn't say we are going bust? It just suggested the PROFITS would not be as much? I would think CH leaving DTC would be unwelcome (even with my criticisms), because he is a great producer...but not apparently of profits thusfar. It's not the infrastructure at DTC that appears to be the problem. It doesn't even appear to be the product line as it's not in a sphere of falling requirement it is still in the right place at the right time with content being much sought after, by more and more players in the industry. Yes, there are some serious questions, i.e. Music Suite (where my opinions have been made quite clear), with the RM distribution saga and the most expensive database consolidation I have ever heard of, being 'sold' twice to the shareholders (and the same costings seem to be applied to the DVD label). I don't know what the 'profits' are, or indeed whether they are there at all, but I think talk effectively of a fire sale is a little premature.
garysmith7: I think this discussion has somehow moved from the discovery of CH being a director of a shell company called "world poker masters ltd" to making assumptions that some nefarious activity is going on. I would like transparency but there could be many valid reasons why CH didn't need, want or deem it important enough to disclose it. If CH's mail to Tom is bona fide then the reasons are purely altruistic and in shareholders best interests. For what its worth having met CH on a few occasions I do trust his integrity (although I don't think much of the share price performance). However it would be nice to know the exact reasons. We know DTC are producing the TV coverage but we don't know who is organising the tournament. It is does seem from the website that DTC personnel are the only contacts. Poker TV is in its infancy and growing massively, this looks like a major production which has huge potential benifits for DTC. I think success will depend a lot on the famous poker names it attracts. I imagine DTC will gain much experience of poker production and the format will increase its revenue generation with each tournament. The risk of this over focus on negative speculation is to distract potential investors away from the upside to DTC and may even jeopardise the revenue stream from this and other ventures in ways we don't realise. Enjoy your few days off IJ..
garysmith7: IJ, you don't care about my current position in DTC so please spare me the fake sympathy. I'm sure you have an average share price lower than mine and you are probably making a mint so well done you. In fact you have made it clear you don't care what I say so please carry on with the monologues I won't bother trying to have a sensible discussion in future. I am objective about DTC and certainly don't have my head in the sand (god knows I've been in them long enough). In fact I'm chilled about my DTC position, I went in eyes open and know the risks as a certain poster can tell you personally. I'm just not on a one man crusade to rid the world of Chris Hunt and spread doom and gloom to humanity. I would certainly like to know what CH motives are but at the moment I'm remaining objective, legally I don't know if he has done anything wrong (and you can't tell me/don't know either if he has) only that in you opinion think he should have been 100% transparent about the venture which I agree. I'm sure the Nomad vetted the RNS maybe they should have asked more questions or maybe they were satisfied it is all above board. CH is DTC largest individual shareholder so he is probably focused on his directorial duty to maximize shareholder value. His website and company is in the public domain so I don't get the impression he is actively concealing his involvement. I would however like to know more about the deal and would have preferred to have been told via the RNS. Using your logic maybe we should call for an LSE investigation into David Elstein and demand recompense if Hallmark profit from service supplied DTC. "I don't propose to go over all that again" Is that a promise? Blimey this post is as long as some of yours..must be catching...
investorjon: BEEZER: You still seem to have missed how the City works though. It's not whether buying, its the juxtaposition between buying and selling. Yes, they may be buying, but if more people are selling then there is no demand and the price either falls or stagnates. If these people were actively buying and the demand was not easily being met, then the price would rise. Good news or bad news acts as a catalyst to demand, so normally good news equates to higher demand and bad news reduces demand and the share price rises or falls....but as we know that does not seem to work with DTC, where seemingly good news has been met with the price dropping over a period of time, which would indicate no demand and further indicate market reticence in believing DTC good news, and where you could hardly blame them under some of the most unusual circumstances. For me though, and this is purely a personal observation. Even with the stagnating share price, even with the somewhat apparent performance failures of one individual at DTC, with regards to statements on Content, Acquisition information and even forthcoming productions, including the poker....there has not been enough time for David Elstein's input to be measured. This will come at the next set of results. As I have said previously, I am not going to sell, because it is that next set of results that will convince me and I would suggest the City, as to what direction this company is really headed for. A jam tomorrow report will just not do it any more...But if the company does turn a real profit, then City reticence would surely be cast aside, which could then merit a very useful increase in credibility and the SP, so I'm not selling until I see results. Even if those results are good though, DTC need to clear out some of the past failures, and really clean up their act, and if for example a program was being sold to a company by a major shareholder, Director or CEO, who then advertise this to the City and investors as a major contract implying it was with an unconnected established third party, but then it was found that the third party was supposed to be looking after the interests of that company anyway and that program should have been within the existing company's umbrella, being in exactly the same field of operations, then that person should walk away with nothing. ' Iambic expands into entertainment TV, signing a deal to televise a twice-yearly poker tournament, each one generating over 400,000 turnover'â€"We need to know who this deal was signed with just to clear things up? What do you think the Investors Chronicle think now of their calculated asset value of 2.5p, which was based on them being told DTC OWNED 3,000 hours of content? If we have added content or value with the acquisition of RM etc., then surely the nav would be greater than 2.5p wouldn't it....well it isn't, the accounts show it isn't. The DTC accounts show an nav before the last placings of approx. .8p...quite a difference from 2.5p, and that reduced by virtue of the fact that if the company is only making a notional profit, with other ongoing running costs, then indebtedness is greater and cash available is less.
investorjon: Harry: Yes, I just reckon it needs a bit of a shakeup at the top...but that should happen with David Elstein. Don't think we are giving him time yet. Apart from which the forecasts suggest DTC should be in profit this year, so whatever the situation we should know before long. Don't think they act professionally on many fronts, their website is the pits, but saying that and all of the MANY points I have raised, still doesn't alter the fact that they are in an area of the market where growth is assured, and depending on content ownership as a secondary issue, the first in my opinion is gearing up Iambic (whose reputation along with CH on the production side is second to none) to take advantage of the opportunities both in the conventional DTC/Iambic programming and diversifying into other programming, which DTC have announced they are doing. I don't think many people could have criticised aspects of DTC more than me....but I still think this company has potential to do some really good things, but as yet unrealised potential. The skills are there, the infrastructure is there, but the business savvy has been sadly missing...but I can't say that any longer if David Elstein is on board, but as I have suggested though, I'd like to see him show that he has confidence by buying some shares. I'll pay for some if he's hard up! It's just that the message that it would send of his purchasing shares is invaluable. Likewise, if the 'other costs' are kept under now, rather than new excuses on jam tomorrow, then the company should hit real profitability rather than the notional profit that no one can spend. Should DTC go into real profit, even small, then I would expect the share price to surge, as the hardest part of a company is to turn it from loss to break even, and then to make profit, albeit even a small one is a massive signal. At present though I think there is a lot of suspicion by shareholders and the city, where both have been told things that either don't quite seem to have materialised, or where there appears reluctance to back up some of the comments made to journalists/shareholders with regards to content OWNERSHIP. The City and shareholders are bound to treat this with trepidation, so as soon as DTC starts to deliver without excuses, and on target with inferences etc., then I think the share will not only be treated as a good investment opportunity, but then today's share price could be considered a distant memory on the lines of 'do you remember when we could have bought DTC at only .9p'. The downside, as in all shares, and particularly AIM is that the share becomes worthless, but the upside is much greater, in my humble opinion, than the downside, and particularly with DTC IF WE DO ACTUALLY OWN 3,000 HOURS OF PROGRAMMING, rather than just borrowing it on license. Iambic only have to hit one pilot programme that becomes flavour of the month for the whole of DTC to be transformed on that basis alone, and where then I would suspect the Education software would be forgotten, as I still don't see that it can survive profitably, when it up against freeby software, and the BBC who wield such massive power on the educational scene, which is why I'd like to see DTC selling it on to the BBC or licensing it to them, in the same manner as Acorn distributed their computer, which became the de facto educational tool.
investorjon: Don't forget Michael, the market's been a bit depressed too, so it's not all down to DTC. The benefit of a small company like DTC is that it will only take ONE good deal to bring it to profit, and whereas with a large cap company that may only reflect in a small rise in the share price in a small one on the AIM market it can mean movements of multiples of the share price. I'm hanging in there....with all the posts its a question of gleaning what you can and with regards to most regarding the RM Associates Distribution, even that could all blow away tomorrow as I don't know how much content we own...we may own tonnes of it, but it's just so surprising and annoying that we just don't know and even the acquisition document didn't specify it, which is crazy. With BBs it's important to acknowledge that there are going to be posts you agree with and those you don't, but don't ever think I'm posting against you, or against really isn't so. No one will cheer louder than me if it turns out we own far more content within RM Associates Distribution. I'm not a shorter, so have no vested interest in the price being depressed. I also hope the results are encouraging, and hope that we may get some encouraging announcements shortly, and it's quite sad to think that all the posts in the last few days would have been unnecessary if we had been able to ascertain what content DTC actually bought...but you must admit it's a bit strange talking about hundreds of thousands on a database, when if you telephone they can't even tell you what tney own. BEST OF LUCK.
mikejg: Yes interesting H. looks to me that dtc did pick up Rm associates cheap and that didier did expect to achieve the full value through a rise in the dtc share price, explains his sales pitch in the finals last year. I think the value is still to be realised, but it will take news of the large deals mentioned in the trading update to convince the market. Mike
investorjon: Interesting to read comments about NAV and IC's comments about 2.4 or 2.8p. Interesting, but not accurate. The report and accounts shows the net tangible assets, and also total assets and on that basis the NAV per share can only represent the net assets divided by the number of shares in circulation, which is far less than 2.4p. Unless anyone out there knows why the net assets are stated in the Report and Accounts inaccurately then the other figures appear to be wishful thinking, especially in view that the net assets also appear to include a goodwill element, which are only relevant for someone wanting to buy the assets, rather than someone needing to sell the asset, where goodwill has a habit of disappearing very quickly. So why have I invested in DTC? Many many companies don't trade anywhere near a NAV per share that matches the share price, but it does not make them poor shares, especially if they pay dividends and are making profits, (not DTC), but also where opportunity seems to be possible from a small company starting to make a name for itself in one area only. PRODUCTION and where this alone could, if handled correctly secure a really nice niche market where more and more content is required, and where hopefully spin-offs and merchandising could be anticipated with forward thinking management. Concern: Forward thinking management does not include companies with poor distribution where the product is good but unavailable. Sorry to some posters, but I've been involved in sorting out distribution companies and it is not normal for these companies to have supply problems or distribution problems, this only applies to FORMER companies (because they are soon knocked out of the market)! Likewise, any Board Member who says they are not worried about share price, just DOES NOT KNOW WHAT THEIR JOB IS! Their job is to look after the company FOR SHAREHOLDERS BENEFIT, which must include relevance of share price, as that is not looking after shareholders interests, that is ignoring it. Of course shareholder value is important, otherwise why float in the first place? It is the prospect of increased share value that encourages investors at the outset, because with a new company, dividend payment is not relevant for some years, leaving asset growth (shareholder value) the only benchmark by which success (or failure) can be measured. Anyone suggesting they are not interested in share price, shouldn't be let anywhere near a Board room.
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