Eurovestech Share Discussion Threads

[lord orphan] 19/12/2005 16:50

Point taken guys. Thanks

[rambutan2] 16/12/2005 16:02

lord orphan, re arkex, you never know. it's backed by the major oil cos via their industry vc fund. re toluna, they are just following the conservative industry (bvca) standard - and quite right too. I know that they believe strongly in the prospects for toluna during 2006. they in no rush over kss, and sounds like katrina hasn't done any favours, but in meantime it's producing cash for us. imho.

[lord orphan] 16/12/2005 13:05

Arkex would have to be worth hundreds of millions to be material to EVT because the %holding is small. My reading of the interims was slightly disappointing - i.e they don't believe the Toluna share price so discount it by 25% and KSS's progress has been put back by months because of the disruption caused by Katrina et al.

[rambutan2] 16/12/2005 01:29

pretty bullish last para coming from a conservative board...

While the focus of our efforts is on safeguarding and building upon the
significant value within our portfolio, we remain alert to other targeted
opportunities. I am extremely optimistic about Eurovestech's prospects.

Richard Grogan

Chairman


so, nothing new except for emergence of arkex, which i suspect they have high hopes of being another success story.

[integer] 15/12/2005 17:00

I missed this article from a1m-analyst.com in July 05 (on the EVT website):-

Surely their 19p target (see the final para below) has moved following the increase in Toluna price from 74p and two sets of results since their note?

Eurovestech (EVT) is a well-run venture capitalist with hidden value that cannot remain buried forever. On 25th May 2005, ToLuna - one of Eurovestech's investments - floated on AIM, crystallizing a diluted post-flotation stake of 63.5%. Eurovestech's holding in ToLuna is worth 16.8 million pounds, almost half of its current 35.2 million pound capitalisation.In addition, Eurovestech's wholly owned investee company, Knowledge Support Systems, is set to record profits of 2.2 million pounds for 2005. There are many other gems in the company, such as a holding of 1,790,983 shares in Prelude Investment Trust worth over 2 million pounds. On a sum-of-the parts basis the shares are a strong buy.Business Eurovestech has nine key investee companies:
ToLuna plc- ToLuna is the holding company for Cjudge, a provider of online solutions and services to corporations and the market research industry. ToLuna has access to over 500,000 individuals across Europe, each person uniquely suited to answering surveys from the company's client base. ToLuna believes that market research is moving beyond traditional methods such as snail mail, telephone and face-to-face interviews and surveys, towards the increased use of the internet. ToLuna's client base includes blue-chip businesses such as Mercedes-Benz, AOL, Peugeot, Dior, IKEA, and France Telecom. Eurovestech initially invested in ToLuna in June 2000, three months after its formation. On 25th May 2005 the company floated on AIM at 70p,ensuring a market capitalisation of 25.04 million pounds. With the shares having advanced to 74p, Eurovestech's stake is worth 16.8 million pounds.

KSS - In May 2003 Eurovestech acquired Knowledge Support Systems, a provider of pricing and revenue management systems for the retail and petroleum industries. KSS offers a range of software products and consultancy services that offer sustainable performance improvements through concentrating on all levels of price and promotion management and decision-making. The software enables customers to understand price to performance development in their market, thus enabling them to understand how to best maximise their profits. Broker, Teather and Greenwood has valued KSS at 18.5 million pounds, which puts it on a PE of 8.5 on forecast profits of over 2.2 million pounds for 2005.

Magenta - Magenta was formed in 1999 to provide multi-agent systems solutions for End Users, Software Developers and Solution Integrators to enable them to build a stronger network of business demands and resources through connecting business strategy with day-to-day operations control. Magenta is still an early stage business that harbours significant potential, which is likely to remain a private enterprise for the foreseeable future. In its recent note Teather and Greenwood valued this stake at 3.16 million pounds, but believes that the commercial value to be between five to ten times as large. Eurovestech holds 37.65% of Magenta.

Atarim - Atarim is an Israeli-based business offering E-commerce solutions to small and medium sized enterprises in Israel and Western Europe. Atarim offers a complete solution for web-based businesses, providing website design, hosting, internet consulting, and search engine ranking. Eurovestech holds 50% of the equity in Atarim.

ARKeX
MyKindaPlace
Tevet
Lynx Photonic Networks
D-Pharm - These five investee companies represent less than 15% of Eurovestech's portfolio by carrying value. Eurovestech holds 2.29% of ARKeX, a company that has been formed to complete and market a technology that enables searches for oil,gas and other mineral deposits to be carried out from the air. Eurovestech owns 5.3% of MyKindaPlace, described as being the UK's leading online magazine for teenage girls, providing everything today's teenage girl could ask for. Eurovestech holds 3.8% of the equity in Tevet, a company that hasdeveloped a unique system for controlling and monitoring the production of silicon wafers. Eurovestech holds 0.37% of the equity in Lynx Photonic Networks, a company which manufactures optical switching modules and subsystems. Eurovestech holds 0.23% of the equity in D-Pharm, a biopharmaceutical company which applies proprietary, innovative technology and expertise for the rational design and advanced development of safe and effective medicines. Aside from the investee companies Eurovestech holds 1,790,983 shares in Prelude Investment Trust worth 2.13 million pounds. We believe that there is clear value in the company's investee holdings which is not factored into the current share price.

The Directors - The principle executive director of the company is chief executive, Richard Bernstein. Bernstein owns 60,000,000 shares in Eurovestech - 19.44% of the equity - having invested 2 million pounds at the company's floatation onto AIM. Bernstein qualified as a chartered accountant in 1989, before running his own specialist research house, Amber Analysis between 1994 and 1996. Amber Analysis provided a risk management service for UK institutions managing over 100 billion pounds. From August 1996 until June 1999 Bernstein was an equity analyst at Schroders Securities. There are two non-executive directors on the board of Eurovestech. Non-executive chairman Richard Grogan holds 2,535,019 shares - 0.822% of the equity. In 1975 Grogan graduated from Harvard College, before moving to Harvard Business School, where he graduated in 1979, before becoming the director of the UK Senate Judiciary Committee. Bernstein was a founder of investment management company, Talisman Management. The second non-executive director is Quentin Solt, a legal consultant and deal mediator. Solt is an advisor to the Investor Relations Society as well as lecturing on corporate venturing at Cranfield University. Solt holds 1,775,019 shares in Eurovestech - 0.575% of the equity. Investment Conclusion To reach a sensible valuation for Eurovestech we have to apply the normal 20% discount to quoted investments. This reduces the value of the stake in ToLuna to 13.44 million pounds, and the stake in Prelude Investment Trust to 1.67 million pounds. In October 2004 the company raised 5 million pounds net, through a placing at 10.5p per share. This ensures the company is well funded, with a cash balance slightly above the 5 million pound mark. These three assets are together valued at 20.11 million pounds. Teather & Greenwood has valued the 37.65% holding in Magenta at 3.16 million, which, given its potential, is very conservative. The carrying value of the minor investments is 8.1 million pounds. The hidden value in Eurovestech is to be found in Knowledge Support Systems, which is forecast to make PTP of 2.2 million pounds in 2005. Teather and Greenwood has conservatively valued KSS at 18.46 million, equivalent to a PE of 8.5. We believe that with rapidly growing profits KSS should be valued at (perhaps) 28 million pounds, which would bring the NAV of Eurovestech to 59.37 million pounds, worth 19p per share. This figure provides upside of 68%as the shares currently trade at 11.25p valuing the company at just 35.17 million pounds. The twelve-month target price is therefore 19p, giving an upside of 68%.

[bitterlemontart] 15/12/2005 07:30

Appointment of Joint Broker

15 December 2005

EUROVESTECH PLC ("the Company")

Appointment of Joint Broker

Eurovestech announces that Cenkos Securities Limited has been appointed Joint
Broker to the Company with immediate effect


Enquiries

Richard Bernstein

Chief Executive Tel: [phone]

[integer] 15/12/2005 07:20

and new joint broker as well, wonder what that is about?

[integer] 15/12/2005 07:16

EVT interim results out:-

[heidigynne] 09/12/2005 16:19

Busy-ish again, trades wise.

@ 16:15; shows online bid of 14.85p. in 150k. size, with offer @ 15.17p. / 25k..

[L2; 4 v 1].

rgds.,

H.

[bitterlemontart] 09/12/2005 15:57

New highs for EVT....

[kenmitch] 09/12/2005 14:27

Just to say that I've copied my post on Toluna on the Mike Walters bulletin board today to the ADVFN bulletin board.

Here's the link to that ADVFN post, with apologies if anyone thinks I should have written a separate post here.

[heidigynne] 08/12/2005 22:50

Fair bit of in-fighting on the trade log today.

Last look showed online bid of 14.4p. in 150k. size, with offer @ 15p. / 25k..

[L2; 2 v 3].
rgds.,

H.

[rambutan2] 02/12/2005 10:52

i agree kenmitch, and have been keeping an eye on tol/yougov.

[kenmitch] 02/12/2005 10:47

Keep an eye out for Toluna results - due soon. The shares perked up yesterday and are up again today, with some buying.With EVT holding over 60% and Institutions quite a few more, the shares could move quickly on any serious buying post results. So far they have lagged Yougov which have rocketed since their results, and doubled since floating. So good Toluna results could see the Toluna share price go up a lot more - and eventually that should feed through to the EVT share price too.

Toluna have over half a million panellists in 13 Countries compared with 90000 for Yougov in the UK only. Both have a top notch client list.

It's a thriving sector with room for Yougov and Toluna and others. Much bigger in the US than here so time for catch up in that respect as well.

Very quiet here these days - along with the EVT share price. Fingers crossed that Toluna's results match the promise in the pre close statement and get TOL and EVT shares moving up.

[rambutan2] 08/11/2005 16:08

and dpharm - only tiny stake but it all helps!

[kenmitch] 01/11/2005 20:21

Thanks for posting the Magenta news and the details in post 190. All very reassuring.

[rambutan2] 01/11/2005 00:40

in may they bought toluna, and then in sept they couldn't resist buying into evt...


and in their other fund...

[rambutan2] 31/10/2005 11:34

the intelligent machine is coming!

LONDON, October 31 /PRNewswire/ --

- M2M Interaction Benefits From Dynamic Planning

Magenta Technology, the leading developer of multi-agent and
semantic network technologies, today announced the launch of the Magenta
Factory Scheduling Solutions Lab. The Solutions Lab is a software development
clinic that harnesses the power of Magenta's event-driven planning software
to create intelligent networks that automatically maximise resource usage and
productivity. Factory managers can use the Solutions Lab to develop M2M
(machine-to-machine) solutions that will achieve a more competitive supply
chain through faster, more effective decision-making.


Jonathan Himoff, CEO of Magenta Technology, explains: "We can
now enable intelligent communication between machines and devices in order to
react and respond to real-world changes. As the web enabled interfaces for
machines are more and more available, we can now connect complex schedules
and streamline cooperation. In effect, multi-agent technology can be used as
an intelligent middleware layer for hardware.

"By using the Magenta Solutions Lab, users can develop the
machine-to-machine interaction capability that builds this much-needed
flexibility into the production schedule. Factory managers can then be
extremely responsive to the unexpected events that would typically cause
costly delays, cancelled orders or loss of valuable business to the
competition. Our Factory Scheduling Solutions Lab will give innovative
businesses practical solutions to scheduling challenges, effectively
supporting their business goals."

For more information on Solutions Lab please, refer to:

[rambutan2] 21/10/2005 22:55

you cant get bigger!

this is worth a read...
"Fine-Tuned Pricing," an article that appeared in the August 15-22, 2005, issue of Information Week and includes references to Athens Group (part 1 and part 2).

[kenmitch] 21/10/2005 16:12

And how about this then?

MICROSOFT!

[kenmitch] 21/10/2005 09:28

Well spotted. Interesting bit about a possible Magenta float. But surely not soon? i.e Magenta has enormous potential. But won't they get a better price once there are more signs of that potential becoming reality? otoh - the chance to get into a potential blockbuster at an early stage and a price that could multiply. Wow!

[rambutan2] 21/10/2005 00:34

well well well. check out september's featured investment on this page...