Freedom4 Share Discussion Threads

[spights] 02/7/2009 10:41

on iii
09:49 Freedom4 Group PLC - Shareholder circular announcement RNS
RNS Number : 9897U Freedom4 Group PLC 02 July 2009


02 July 2009

Freedom4 Group plc (the "Company")

Posting of Shareholder Circular

Yesterday the Company announced details of certain proposals which constitute a reverse takeover under the AIM Rules and are conditional upon shareholder approval at a General Meeting to be convened on 20 July 2009.

An AIM Admission Document and Notice of General Meeting has been sent to shareholders, a copy of which can be found on the Company's website at www.freedom4group.com.

Enquiries:


Freedom4 Group plc 08703 860 403


Stewart Porter, Chief Financial Officer
Liberum Capital Limited 020 3100 2224


Steve Pearce
Financial Dynamics 020 7831 3113


Edward Bridges Juliet Clarke Erwan Gouraud

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


END

MSCUUSWRKARBRRR

[psonice] 02/7/2009 10:39

There's a new RNS saying that the shareholder meeting has been announced (where the deal will be approved/rejected). But can anyone find when it is? I can't see anything on the website.

[waleriuszwatrobka] 02/7/2009 10:26

...was there IPO or the placing was directed to those already holding pre-reversed shares ?

[harkishan] 02/7/2009 09:54

psonice: got offer but NO DEAL!

Edit meant good offer. Was never good at maths or English or typing!

[harkishan] 02/7/2009 09:48

The number of shares sold yesterday was roughly same number as the number traded on 2/6/09. not bad for nearly 80% profit in less than a month!

[psonice] 02/7/2009 09:47

harkishan: only got 4 sorry :(

waleriusz: a combination of people buying in before the deals, people who missed the placing buying on the market, sellers cashing in on the rise. Multiplied massively by the fact that it's been suspended for quite a while so pressure has built up plenty.

[waleriuszwatrobka] 02/7/2009 09:38

...anybody has a clue why there was such a massive volume yesterday ?!?

[harkishan] 02/7/2009 09:36

psonice,
If you got more then 20 shares I will have the lot for 80p. LOL

[psonice] 02/7/2009 09:26

If anyone missed out on the placing, I'm happy to sell you my shares for 80p today. Anyone interested?

[troys] 02/7/2009 08:07

thanks saffy

[safman] 02/7/2009 07:14

Philip Green-backed entrepreneur sells business for £80mComments (...)
Buzz up!
Digg it
Congratulations are in order to 35 year old Matthew Riley, who is set to pick up around £80m in cash and shares after reversing his telecoms company Daisy into Aim-listed Freedom4 (formerly Pipex).

Riley set up Daisy in 2001 to supply telecoms services to small and medium sized businesses, and in 2007 he won the Bank of Scotland entrepreneur challenge, which entailed a £5m interest free loan and mentoring from none other than retail guru Sir Philip Green.

Now Daisy is joining Aim via Freedom4 - whose chairman will remain Pipex boss Peter Dubens. As part of the deal Riley will receive nearly £30m in cash and £51m in shares. He becomes chief executive of the enlarged group.

Freedom4 is also buying Vialtus, a supplier of voice and data services, for around £42m. Vialtus is linked with private equity group Oakley, which is also associated with Peter Dubens, although the company said he took no part in deciding whether or not Freedom4 should buy Vialtus.

Freedom4 is paying for the deal by issuing shares at 80p each to the vendors, as well as placing shares in the market to raise £83m in cash.

Freedom4 is currently 0.94p higher at 4.04p. It is also planning a 20 for 1 share consolidation, hence the seeming discrepency between the placing price and the market price.

saffy..

[troys] 02/7/2009 07:00

doooooooooooooooooooooomed :-)

[fullupfool] 02/7/2009 01:41

Did howling howl ?

[looky] 01/7/2009 23:27

i think for them to raise that amount of money from decent highly rated fund managers (who are not parting with their cash easily) then the deal must stack up. 4p is also a decent placing price given where they were and the net cash position - so we have not been screwed. Also i hear that the placing was well over subscribed hence all the buying at about 4p

[psonice] 01/7/2009 21:45

The maths is right, but it's still optimistic. ;o)

That said, I like the way it's holding up, so I'll hang on for the ride.

[spights] 01/7/2009 21:25

If you have 20,000 shares today you would have 1,000 shares after consolidation.

[spights] 01/7/2009 21:22

* Proposed share consolidation on the basis of 1 Consolidated Ordinary Share of
2.0p each for every 20 Unconsolidated Ordinary Shares of 0.1p

[spights] 01/7/2009 21:18

20 x4p=80p

[markieparkie] 01/7/2009 18:39

80P after consolidation?

Thats a tad optimistic is it not? ;-p

I like your style mind..!

[troys] 01/7/2009 15:44

Conned again

[nils214] 01/7/2009 12:53

well looking at it positively, it's up +100% from pre-rumours increase, which more than covers the 1.7p in cash which we were expecting

[spights] 01/7/2009 12:30

Anything to do with this company and we get screwed.

[nils214] 01/7/2009 11:57

if you read the 'acquisition and placing' document you will discover that the loan notes will not be returned to current s/h's if the reverse takeover proceeds. If it fails, then they will review the strategy for distribution of cash.

Basically what they are saying is this:

"Look guys, we have a serious amount of wedge in the bank or due to arrive, there are loads of companies out there currently up sh*t creek with no paddles and holes in their canoes, so let's forget about doshing out the wedge to the scummy s/h's, let's do a few deals to maximise our shareholdings in all the companies by using the s/h's cash to leverage all the deals. If it fails, well so what, it wasn't our cash to start with, if it succeeds we get even richer :-))))

Oh yes, and Oakley is right in the middle of it all, selling assets back to FFG which it bought previously.