Dowgate Capital Share Discussion Threads

[davidosh] 27/11/2008 14:28

There will surely be performance criteria linked to handing out huge chunks of the company at nil cost. He did not perform so should only receive his salary and normal contract termination fees. There were two new signings at the time.

[lr4850] 27/11/2008 14:22

thanks, a name to be forgotten, so is Rawlinson at this rate. Peas from the same pod.

[blackm0nday] 27/11/2008 14:17

Stephen Barclay Ir

[lr4850] 27/11/2008 13:31

Looks like Ashford Solutions have had enough as well and have got out? Wish i could,; wonder if they did so at a loss? Things not good here.

[paulo2] 27/11/2008 12:03

Do you mean Chelwood01? ;-)

[lr4850] 27/11/2008 11:33

Thanks DF LOL, must learn to spell. I'm with serratia as well; their antics remind me of that over bloke previously in charge- what was his name?

[serratia] 27/11/2008 11:11

M.Cap. £2.18m. Wages 2007 £2.82m,bonus payments £0.732m,directors bonus £0.565m,£0.385m to D E for what ?

Is there a more digraceful company on AIM ?

[donaferentes] 27/11/2008 09:55

I expect we'll see Dru pop up at DAN any moment complete with 8.5% of DGT in his pocket!

I agree with your dyslexic suggestion that the directors' remuneration ought to be renumerated (sic)!

[lr4850] 27/11/2008 09:43

Agreee DF, nice work if you can get it. The recent antics of these people have given me considerable concern. It appears to be run as a cash cow for directors and shareholders money is being quickly eroded in extortionate directors' renumerations. There is also,I think, something highly suspicious about the DAN/DGT debacle.

Surely there is some lock in for being awarded shares for nothing?

[donaferentes] 27/11/2008 09:37

So is he going to give back the 3,494,333 shares issued to his SIPP as notified on March 20 and April 7 this year?

Did he ever pay for these or were they a free gift at our expense? The RNS's were remarkably silent on this point. Oh, I've found it - note 2 to the interims £496,000 "exceptional cost" of recruitment of Dru and friend - no he didn't pay for it, we did - about £358k. Thanks, Tony - a very good 7 months work all round!

Edit: That's about 16.5% of the market cap of DGT poured down a hole!

[gengulphus] 26/11/2008 22:50

Given that he only joined Dowgate in March and only became a director in July ( see ), I think the scope for a valuable contribution was fairly limited!

Gengulphus

[lr4850] 26/11/2008 21:15

Gosh, that was quick work! Dru quickly removed from Website. Wonder what valuable contribution he made before his departure - not much, I suspect?

[lr4850] 26/11/2008 13:36

They'll replace him with another quick enough or give themselves more? He was supposed to have been quite a catch for DGT and much was expected of him; looks like he has failed to deliver.

[whitewestie] 26/11/2008 13:34

one less mouth to feed in the present climate.

[lr4850] 26/11/2008 10:35

oh dear. Sinking ship

[nonno] 24/11/2008 17:55

mentioned again in aimzine mag nov edition

[rawli] 19/11/2008 12:59

RNS Number : 3254I
Medilink-Global UK Limited
18 November 2008



Tuesday 18 November 2008

MediLink-Global UK Limited

('Medilink', 'the Group' or 'the Company')




Admission to Trading on AIM




Placing to raise £2.1m before expenses




MediLink-Global UK Limited (AIM: MEDI), the electronic healthcard network service provider, announces the successful admission to trading on AIM today. The Company raised £2.1 million before expenses at a Placing Price of 18 pence per share and at admission the company is valued at £18.6 million. The net placing proceeds will be used to provide working capital to fund the expansion of the healthcare network, initially across China but also into other new territories.




The Group has appointed Dowgate Capital Advisers Limited as its Nominated Adviser (NOMAD) and SVS Securities plc as its Financial Adviser and Broker.




Key Information about Medilink:




The Medilink System was created in late 2002 in Kuala Lumpur. It provides electronic healthcard network services to insurance and other companies and third party administrators to facilitate the administration of medical claims and healthcare data management.




The Medilink System provides members with an electronic swipe card which, on presentation, allows the Healthcare Service Providers to electronically assess whether the member is eligible for insurance cover relevant to their condition.




The Medilink System is now well established in the Malaysian healthcare industry. The Group has successfully secured two major accounts with its principal clients. The Company has now installed the Medilink System through a network of over 100 hospitals and 2,000 clinics. To date the Company has issued over 1.8 million cards to Malaysian members.




The Directors believe that the Company is the only operator in Malaysia to provide a real-time electronic insurance verification system. As such, it facilitates easier medical claims for members and can be used as a selling point for insurance companies to recruit corporate clients.




Following an agreement with ING, in 2006 an initial 1,800 EDC terminals were deployed throughout Malaysia. In 2007 the Group signed its first software license with Great Eastern Life Assurance (Malaysia) Berhad.




In 2006 the Group secured its first contract in China with Generali China Life Insurance Co. Ltd. To date, MidLink has established a network of approximately 100 Healthcare Providers across ten key Chinese cities and over 33,000 cards have been issued to Chinese members. The Directors believe that there is a considerable opportunity in China and an implied market potential of some RMB 489 billion.




Placing Statistics




Placing Price
18 pence

Number of Ordinary Shares in issue prior to the Placing and Admission
90,002,000

Number of Placing Shares
11,666,666

Number of shares to be issued in connection with services provided pursuant to the Placing and Admission
1,661,964

Number of Ordinary Shares in issue following the Placing
103,330,630

Percentage of the Enlarged Share Capital subject to the Placing
11.29%

Gross proceeds receivable by the Company pursuant to the Placing
£2.1 million

Market Capitalisation at the Placing Price on Admission
£18.6 million





Enquiries:




MediLink-Global UK Limited
Tel: [phone]

Shia Kok Fat, Chief Executive Officer







Dowgate Capital Advisers Limited (Nominated Adviser)
Tel: [phone]

Liam Murray








SVS Securities Plc (Financial Adviser and Broker)
Tel: [phone]

Ian Callaway








Parkgreen Communications Limited
Tel: [phone]



Mob: [phone]

[rawli] 19/11/2008 12:44

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ('AIM RULES')




COMPANY NAME:

Garner Plc




COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

6 Derby Street, Mayfair, London W1J 7AD




COUNTRY OF INCORPORATION:

UK




COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.garnerinternational.com




COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Garner is an executive search firm whose main country of operation is the UK. Garner is already admitted to trading on AIM and admission is being sought now in accordance with Rule 14 on the reverse acquisition of three companies - BNB Recruitment Consultancy Limited, Bancomm and BNB Recruitment Overseas Holdings Limited (together the 'NB Companies'). The NB Companies are similarly executive search firms (under the brand 'Norman Broadbent') and their main areas of operation is the UK, although they also have a presence in the US, Canada, Dubai and Spain.




DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

70,855,541 ordinary shares of 1 pence each at a placing price of 3 pence each. No shares are held in treasury. The transaction will also see the cancellation of the 1,043,566 Garner preference shares of 50 pence each which are currently admitted to trading on AIM.




CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

£0.73m to be raised on admission. Market capitalisation on admission at the placing price £2.2 million.




PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

46.81% not in public hands (being the shares held by the directors as there are no substantial shareholders).




DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

N/A




FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Andrew Charles Garner

Susan (Sue) Anne O'Brien

John Bartle

Richard Graham Robinson

Bruce Richard Lakefield




There are no changes to the constitution of the board as a consequence of the Rule 14 Reverse. However, John Bartle will step down as Chairman, Andrew Garner will become Chairman and Sue O'Brien will become Managing Director.




FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):





Before After
Charles Auld 0% 7.06%
Roy Robert Edward Stanley 11.27% 6.07%
TD Waterhouse Nominees 4.10% 2.21%
Barclayshare Nominees 3.87% 2.09%
Share Nominees Limited 4.03% 2.17%
HSDL Nominees Limited 3.37% 1.81%




NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

Craigie Mains Limited has received a total of £14,679.12 (inc VAT) in connection with consultancy services relating to a potential acquisition by Garner Plc.




ANTICIPATED ACCOUNTING REFERENCE DATE

DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

31 December

The audited accounts for each of the three NB Companies are presented in the document for the years to 31 December 2005, 2006 and 2007 together with the unaudited interims to 30 June 2008 (Garner announced its unaudited interims to June 2008 on 30 September 2008). The three years audited accounts to 31 December 2005, 2006 and 2007 in relation to Garner are available on the company's website

The next report to be published by Garner Plc will be for the year to 31 December 2008 and must be published by 30 June 2009, thereafter the interims to 30 June 2009 which are due by 30 September 2009 and lastly the 12 months to 31 December 2009 which is due by 30 June 2010.




EXPECTED ADMISSION DATE:

3 December 2008




NAME AND ADDRESS OF NOMINATED ADVISER:

Dowgate Capital Advisers Limited

46 Worship Street, London EC2A 2EA




NAME AND ADDRESS OF BROKER:

St Helen's Capital Plc

15 St Helen's Place, London EC3A 6DE




OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

www.garnerinternational.com

Field Fisher Waterhouse, 35 Vine Street, London EC3N 2AA




DATE OF NOTIFICATION:

19 November 2008




NEW/ UPDATE:

New









This information is provided by RNS
The company news service from the London Stock Exchange

[cammy3] 19/11/2008 06:32

If its Peter Webb from eaglet then this is great news. Could now have hit the bottom.

[mufprat] 19/11/2008 00:24

If it's the same Peter Webb, check out BetAngel (Betting Exchange Software and Training Courses).

[onsider] 18/11/2008 22:53

Jeez, looks like I got pout in the nick of time. This has taken a beatng over the last 2 months.

[serratia] 18/11/2008 13:52

Well ther's a Peter Webb who writes in Shares Mag - a sort of value investor.

[whitewestie] 18/11/2008 13:43

Who is Peter Webb? i saw his name in this mornings RNS.

Is he being optimistic about DGT or is it part of a buyout plan as his stake is up to 5.25% of the company.

I cannot recall seeing his name mentioned before he must have held less than the 3% required.

That explains that 1.4 Million buy last week.

ww