Defenx Share Discussion Threads

[datait] 09/4/2018 09:10

You can buy but you cant sell lol

[letmepass] 09/4/2018 09:08

Haha Dave I didn't sell any cx4d.. I still hold at 115.. Fool

[dave4545] 09/4/2018 09:07

Letmepass

I remember your posts on c4xd posting similar ramps then being the scumbag lowest of the low you are started deramping it the moment you sold

Buyer beware, still unlimited idiots around the market trying to get rich quick

[datait] 09/4/2018 09:03

This will fall back very quickly

[babbler] 09/4/2018 09:01

I guess the mcap is small here and lack of shares makes the move fast... Both ways...

[letmepass] 09/4/2018 09:00

PS Dave.. I only hold a small amount.. Recovery story happy to gamble this one.. hold long

[letmepass] 09/4/2018 08:59

News coming Dave.. No shares 40p

[dave4545] 09/4/2018 08:53

Careful, pump and dump by letmepass

8p fundraising Friday so why pay 150% higher now

[letmepass] 09/4/2018 08:48

Gap to 20 then gap to 40p

[letmepass] 09/4/2018 08:40

Looking like strong buying.. Wonder if some news is coming

[wordog] 09/4/2018 08:24

Less for the additional funding the main highlight for me is the potential of BV Tech as a majority stakeholder rather than strategic partner. Their interest in DFX has increased significantly and they are unlikely to let it fail at this point. The board clearcut was a shrewd move and cements their personnel in key positions in the company. DFX product line, employee status and core skills and business, as BV Tech mentions will not change. They obviously believe that these components are not 'broken', but rather the B to B to C business model. A quick transformation in strategy could see this fly quite quickly.

Read the BV Tech description below.

In 2016, BV Tech generated a production value (valore della produzione)1 of approximately €32 million and it employed 193 employees on average during the course of the year, including engineers and IT experts. In the same year, the BV Tech Group generated a production value (valore della produzione) of approximately €56 million. BV Tech expects to invest over €30 million in R&D over the next three to four years, including through its collaboration with the Massachusetts Institute of Technology (MIT). Significant customers of the BV Tech Group include the Lombardy and Veneto regional governments, the Italian Ministry of Justice, TIM (Telecom Italia Mobile), American Express, Alcatel-Lucent, NATO, Bulgari, Eni and Saipem.

[wordog] 06/4/2018 21:36

Pretty poor RNS, things are worse than I thought.

Big change around so let’s see

[kemche] 06/4/2018 12:52

And still a basket case - with ruddy great holes to boot.

[barnetpeter] 06/4/2018 08:39

Yes a complete disaster for Bv tech and I don’t see much point in them keeping such funding going for more than a year. Nor is there much point in this aim listing although they say they have no interest in cancelling it. But that can change in a few months......

[optrade] 06/4/2018 08:35

Defenx acquired a bespoke version of BV-Tech's encrypted voice and messaging software for €2.65 million (£2.26 million), settled through the issue of 1,982,222 new ordinary shares at £1.14 per share. BV Tech also subscribed for 861,666 new ordinary shares at £1.14 per share, raising €1.15 million ...

[optrade] 06/4/2018 08:33

5.6 Participation by BV Tech in the Fundraising
The Company's largest Shareholder is BV Tech, which is interested in 3,636,638 Existing Ordinary Shares, representing approximately 27.6 per cent. of the Existing Ordinary Shares.

BV Tech has subscribed for 10,564,676 Subscription Shares and has also undertaken to apply for all of its Open Offer Entitlements. In addition, BV Tech will apply for all of the remaining Open Offer Shares under the Excess Application Facility, other than the Open Offer Shares which it has undertaken to take up in respect of its pro-rata entitlements under the Open Offer. Accordingly, BV Tech has undertaken to apply for, in aggregate, 4,398,223 Open Offer Shares.

On completion of the Fundraising, depending on the participation in the Open Offer by Qualifying Shareholders, BV Tech's interest in the Company would increase to, in aggregate, between a minimum of approximately 54.7 per cent. and a maximum of approximately 66.1 per cent. of the Enlarged Share Capital.

Furthermore, on completion of the Fundraising, BV Tech's shareholding in the Company would remain above 50 per cent. on a fully diluted basis (i.e. following the issue of new Ordinary Shares subsequent to the exercise of all outstanding options and warrants and the conversion of the Secured Convertible Bonds).

As BV Tech will be interested in over 50 per cent. of the voting rights in the Company, it will be free to increase its aggregate holding of Ordinary Shares (and to acquire further interests in the same) without any obligation to make a general offer for the Company under the provisions of Rule 9 of the City Code.

[optrade] 06/4/2018 08:32

The least price paid was 114p by bv-tech so any offer must be above that = FACT An offer under Rule 9 of the City Code must be made in cash and at the highest price paid by the person required to make the offer, or any person acting in concert with him, for any interest in shares in the company during the 12 months prior to the announcement of the offer.

[barnetpeter] 06/4/2018 08:27

The main directors are leaving including the founder. Millions have been lost and no customer wants to pay it seems...because the product is not being supported. Millions have been lost and in effect this is a takeover at 8p. The million will help but top developers cost 150k in total package so this cash will only last 9 months or so. I am guessing this will be taken over eventually but at a price between 1 and 3 pence. Still, new management will have a clean slate here and some new cash to try to repair things.

[euclid5] 06/4/2018 07:58

"Whilst management is actively seeking to resolve customer claims, balancing short term cash collections with longer term customer retention and sales opportunities, the collection of trade debtors remains difficult with limited collections since mid-November 2017. All options to collect amounts due to the Defenx Group including, where appropriate, legal proceedings are being pursued.

At the same time, progress in addressing the performance issues has been slow due to the constrained resources of the Defenx Group and because it has not been possible to agree continued development and support from the Defenx Group's existing external developer in Romania on acceptable terms.

Support work is therefore being undertaken by the Defenx Group's internal development team with support from BV Tech, although this is proceeding more slowly than originally expected due to significant staff losses. Recruitment plans are in place and budgeted to rebuild the team once the Company's financial position is secure."

[livewireplus] 06/4/2018 07:41

Indeed - even key technical staff seem to be deserting - not easily or cheaply replaceable.

[still waiting] 06/4/2018 07:10

That has to be one of the worst rns's I have ever read.

[wordog] 05/4/2018 20:33

Hoping that BV Tech loan them the next load of cash. They mention in the last 2 updates that they have been ‘supportive217;.

The fall from 200 has been pretty disasterous, glad I sold at 180, not so glad I reinvested the profit near the current price but ANY good news and it will move quickly.

[barnetpeter] 05/4/2018 18:01

At what price? Talk about a disaster.....160p placing just last August. The company has raised many millions and done the lot.

[barnetpeter] 05/4/2018 18:00

7 August 2017

Defenx PLC

("Defenx" or the "Company")

Confirmation of successful GBP1.425 million fundraise

Defenx PLC (AIM:DFX), the cyber-security software group, is pleased to announce that, following the announcement of earlier today ("Announcement"), the Company has raised a total of GBP1.425 million (before expenses) with new and existing investors through the subscription of 734,375 Placing Shares and 156,250 Subscription Shares at a price of 160 pence per share.