Share Name Share Symbol Market Type Share ISIN Share Description
Fusionex LSE:FXI London Ordinary Share JE00B8BL8C53 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 63.50p 0 06:35:03
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 94.6 4.6 3.0 21.2 30.04

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Date Time Title Posts
22/2/201813:00Fusionex International plc1,999
06/1/201715:56FUSIONEX - the new Altitude!3
04/3/200910:14China shares, the etf4

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galeforce1: Last week a Chinese company called Haike Chemical put out an RNS saying they were going to leave AIM and become an unlisted company. But unlike Fusionex they have set up an Exit Facility at a small premium to the current share price. So all shareholders who want to exit can do so at a reasonable level. Fusionex's failure to do the same last May was a disgrace. PI's got legally fleeced. The AIM rules should oblige an Exit Facility.
leedskier: All very sad that FXI has gone. I sold out here when the share price was much, much higher. some three years ago when it was obvious that the shares were being shorted. I hope those who decided not to sell get full value at some future date. It will not have been lost on the CEO that if FXI had listed in Malaysia the shares could not have been shorted. To short a company there the company has to be on an approve3d list of high value companies. Whether he relists remains to be seen, but the ii buying suggests that something is going on in the background.
zho: I see that Fusionex's NOMAD has resigned today, so the shares will be suspended tonight, and de-list on 27 Jun 2017. Therefore shareholders only have today to get out. Bizarrely, the share price has strongly rallied in the last few days. This seems inexplicable to me, as the shares will effectively be worthless when they de-list tonight. I doubt UK shareholders will ever see any value from their shares.
zcaprd7: Nice summary by motley fool:The Motley FoolMENUIs Fusionex International plc a falling knife to catch after falling 65% today?G A Chester | Tuesday, 30th May, 2017 | More on: FXI    ?Image: Public domainShares of AIM-listed big data firm Fusionex International (LSE: FXI) closed on Friday at 129p but plummeted as low as 38.5p in early trading this morning. What's behind the crash? And is this a falling knife to catch?Why have the shares crashed?Fusionex shareholders who hadn't already switched off for the Bank Holiday weekend received a nasty shock after the market closed on Friday. The company made an announcement at 5.30 p.m. titled 'Proposed cancellation of trading on AIM'.The board said that it intends to hold an EGM in Malaysia on 15 June to seek the approval of shareholders to delist from the AIM market. It said that for the delisting to go ahead it will require 75% of the votes cast to be in favour and that directors holding 41.93% of the shares have given irrevocable undertakings to vote in favour.The reasons given for seeking to delist include the directors' belief that the share price over the past 15 months hasn't adequately reflected the value of the company and that the costs of remaining listed are disproportionate to the current benefits to the company. Presumably, the directors - led by chief executive Ivan Teh, who holds 40.13% of the company's shares - are confident of securing enough votes to delist.Private investors are naturally upset and angry about this turn of events. In a further announcement this morning, the company said that its non-executive chairman John Croft (whose role includes representing minority shareholder interests) and joint broker Peel Hunt have both resigned as a result of the delisting proposal.A falling knife to catch?Fusionex's shares are trading at 46.5p, as I'm writing, making the company's market capitalisation £25.3m. On the face of it, this is cheap for a fast-growing company that last year generated revenue of 94.6m Malaysian Ringgit (RM) - £17.2m at current exchange rates - and had net cash of RM74.7m (£13.6m) on its balance sheet at year-end.However, I've written before about some disconcerting features of Fusionex's accounts and I believe these are part of the reason why the market hasn't valued the company as highly as the directors say it should have been.Personally, I'll be avoiding this falling knife, but investors considering catching it - and existing shareholders - should satisfy themselves about a number of things. Namely, that the accounts are robust, that the directors have minority shareholders' interests at heart (despite appearances to the contrary) and that either the delisting vote will fail (and the share price recover) or that holding shares in a private company is an attractive proposition.On the latter subject, the board said in the announcement on Friday that if the delisting goes ahead, it "intends" to put a matched bargain facility in place for trading shares, which it rightly acknowledges "is likely to offer a substantially lesser degree of liquidity and potentially less attractive share prices" than on Aim.
zcaprd7: What grinds my gears is the CEO is moaning about aim and the share price, but all he does is release fluffy press releases without any hard numbers, perhaps if he ran the company properly, the share price would take care of itself?
j777j: ClearDebt Group plc 7th March 2013 CLEARDEBT GROUP PLC ("CLEARDEBT" OR "THE COMPANY") PROPOSED CANCELLATION OF AIM ADMISSION AND NOTICE OF GENERAL MEETING ClearDebt announces that it is seeking Shareholder approval for the cancellation of admission to trading on AIM of its Ordinary Shares ("Cancellation"). A General Meeting ("GM") is being convened to be held on 25th March 2013 at 2pm at Nelson House, Park Road, Timperley, Cheshire WA14 5BZ at which a resolution which seeks Shareholder approval for the Cancellation will be proposed. A circular convening the General Meeting will be posted to Shareholders. Copies of the circular will shortly be available on the Company's website: EXPECTED TIMETABLE OF PRINCIPAL EVENTS: Latest time and date for receipt of Forms of Proxy for the GM 2pm on Thursday 21st March 2013 Time and date of GM 2pm on Monday 25th March 2013 Cancellation of admission to trading on AIM of the Ordinary Shares 7am on Wednesday 10th April 2013 The dates and times are based on the Company's expectation and may be subject to change. Any changes to the expected timetable will be announced publicly. CONTACTS: ClearDebt Group plc: David Mond (Chief Executive Officer) 0161 968 6806 David Shalom (Finance Director) 0161 968 6847 Seymour Pierce (Broker & Nominated Advisor): Guy Peters/David Banks/Katie Ratner 0207 107 8000 The following information is extracted from a circular to Shareholders (the "Circular") expected to be posted today. Copies of the Circular will be available at the offices of Seymour Pierce Limited (20 Old Bailey, London EC4M 7EN) upon request. Definitions used in the Circular apply in this announcement, unless the context otherwise requires: Proposed cancellation of the Company's AIM listing 1. Introduction The purpose of this letter is to provide you with the background to and the reasons for the proposed cancellation of the Company's listing on the AIM market of the London Stock Exchange plc ("AIM") (the "Cancellation"), and to explain why the directors consider this proposal to be in the best interests of the Company and Shareholders as a whole, and to seek your approval to the proposal at the general meeting of the Company convened for this purpose (the "GM"). 2. Reasons for the proposed Cancellation Concerns over the recent share price performance of the Company have led the Directors to undertake a review of the merits or otherwise of the Company continuing to be admitted to trading on AIM ("Admission"). The Directors have concluded that a proposal to cancel the Admission should be made to Shareholders in general meeting. In reaching the decision to propose this to Shareholders, the Directors have taken the following factors into account:- 2.1 given the overall market, the Directors are of the opinion that it is difficult for the Company to attract any or meaningful equity investment through its listing on AIM; 2.2 the AIM Listing of the Ordinary Shares is not offering investors the opportunity to trade in meaningful volumes within the relative market; 2.3 the Company, like many other small AIM companies, has a tightly held register of Shareholders and suffers from a lack of liquidity for its ordinary shares. The current share register shows that more than 61% of the Company's ordinary shares are held by 17 Shareholders. In practical terms, this results in a small free float and low trading volumes, which further reduces demand for the Ordinary Shares; 2.4 it is unlikely that the Company will be able to raise money through a new share issue or issue new shares in connection with an acquisition and therefore the lack of ordinary shares in free float and low trading volumes will continue; 2.5 there is limited investor appreciation of the Company's business areas and increasing difficulty in attracting and maintaining institutional investors in the Company, particularly in the current economic environment; 2.6 the Directors estimate that annual direct and indirect costs of maintaining the listing of the ordinary shares on AIM are at least £93,455. This estimate includes listing expenses and AIM advisory fees (and excludes any indirect costs savings associated with a considerable amount of senior executive time which is currently spent dealing with issues relating to the AIM listing). The Directors consider that these costs are disproportionately high to the benefits of trading on AIM and that these funds could be better utilised in running the business; 2.7 the current economic turmoil and the susceptibility of the share price to the wider general equity market conditions is not to the benefit of the business; 2.8 the impact (at least in the short term) on the Company's share price arising as a result of the new debt management protocol announced on 7 February 2013 which could have a negative impact on the Company's cash flow and profitability in the short to medium term. 3. Process for Cancellation In accordance with Rule 41 of the AIM Rules, the Company has notified AIM Regulation of the intention to delist, giving at least 20 Business Days notice. Under the AIM Rules, it is also a requirement that the Cancellation must be approved by not less than 75 per cent of those present and entitled to vote or voting by proxy in a general meeting. Accordingly, the resolution set out in the notice of GM ("Resolution") seeks Shareholder approval for the Cancellation. Subject to the Resolution being passed by the requisite majority at the GM, and following a further five Business Days (which must pass following approval by the Shareholders in accordance with the AIM Rules), it is expected that trading on AIM in the Ordinary Shares will cease at the close of business on Tuesday 9th April 2013 with the Cancellation becoming effective from 7.00am on Wednesday 10th April 2013. 4. Effect of the Cancellation on Shareholders The principal effects of the Cancellation would be that:- 4.1 there would no longer be a formal market mechanism enabling Shareholders to trade their shares on AIM or any other market or trading exchange; 4.2 the Company would not be bound to announce material events, such as interim or final results, material transactions or administrative changes; 4.3 the Company would no longer be bound to comply with the corporate governance requirements for companies with shares admitted to trading on AIM; 4.4 the Company would no longer be required to comply with the AIM Rules (or to have a nominated advisor), and Shareholders would no longer be required to vote on certain matters prescribed by the AIM Rules; 4.5 Shareholders will not be able to read the Company's share price in the daily newspapers; 4.6 interim reports will not be sent to Shareholders and, as a result, Shareholders will only receive the annual report once a year; and 4.7 the Company's CREST facility will be cancelled and although the Ordinary Shares will remain transferable, they will cease to be transferable through CREST. Instead, Shareholders who hold Ordinary Shares in CREST will receive share certificates. However, the Directors intend to continue to operate the Company for the benefit of all Shareholders. They also intend to continue to keep Shareholders informed of progress and remain committed to high standards of corporate governance. As such, the Directors will:- 4.8 post items of news on the Company's website (; 4.9 hold annual general meetings and general meetings in accordance with statutory requirements and the Company's Articles of Association (the "Articles"); 4.10 continue to send to Shareholders copies of the Company's audited accounts each year; and 4.11 operate the Company with the corporate governance appropriate to a company with approximately 280 shareholders. Following the Cancellation, although the Ordinary Shares will remain transferable they will no longer be tradable on AIM and no other trading facility will be available to facilitate the trading of the Ordinary Shares. Consequently, it is likely to be more difficult for a Shareholder to purchase or sell any Ordinary Shares following the Cancellation. The Directors intend, however, to review on an ongoing basis whether they can facilitate trading on a matched bargain basis in the UK and Shareholders interested in any such potential matched bargain arrangements should contact the Company Secretary, David Mond on 00 44 161 968 6806 in the first instance. Following the Cancellation, transfers of Ordinary Shares may be effected in accordance with those provisions of the Articles concerning off-market transfers of shares in certificated form. It is the Company's intention to cancel the CREST facility following the passing of the resolutions at the GM and arrangements will be made to send share certificates to those Shareholders (at their risk) currently using CREST. Shareholders should note that, even if the Cancellation is approved and becomes effective, the Company will remain subject to the provisions of the City Code on Takeovers and Mergers for a period of 10 years. The City Code provides an orderly framework within which takeovers and mergers are conducted and operates principally to ensure that shareholders are treated fairly and not denied an opportunity to decide on the merits of a takeover and that shareholders of the same class are afforded equivalent treatment. The City Code will however cease to apply to the Company 10 years after the Cancellation becomes effective. However, the regulatory regime imposed through the AIM Rules, which applies solely to companies with shares admitted to trading on AIM, will no longer apply. Upon the Cancellation becoming effective, Seymour Pierce Limited, will therefore cease to be nominated adviser and broker to the Company. 5. Expected Timetable of Events Despatch of this document and form of proxy and notice provided to London Stock Exchange to cancel the Admission Thursday 7th March 2013 Latest time and date for receipt of Forms of Proxy in respect of the GM 2pm on Thursday 21st March 2013 Time and date of the GM 2pm on Monday 25th March 2013 Expected last day of dealings in Ordinary Shares on AIM Tuesday 9th April 2013 Expected date of Cancellation 7am on Wednesday 10th April 2013 Each of the times and dates in this timetable is subject to change. If any of the above time and/or dates change, the revised times and dates will be notified to Shareholders by an announcement through a regulatory information service recognised by the London Stock Exchange. 6. General Meeting The notice convening the GM to be held at Nelson House, Park Road, Timperley, Cheshire WA14 5BT at 2pm on Monday 25th March 2013 is set out at the end of this document to approve, as a special resolution, the Cancellation. 7. Action to be taken You will find enclosed with this document a form of proxy for use at the GM. Whether or not you propose to attend the GM in person you are requested to complete the form of proxy and return it to Neville Registrars Limited, Neville House, 18 Laurel Lane, Halesowen, West Midlands, B63 3DA, so as to arrive no later than 2pm on 21st March 2013. The completion and return of the form of proxy will not affect your right to attend and vote in person at the GM if you so wish. 8. Recommendation The Directors believe that the proposed Resolution is in the best interests of the Company and unanimously recommend that you vote in favour of it as they intend to do in respect of their own beneficial shareholdings of 125,565,618 Ordinary Shares which represent the equivalent of 40.68 per cent of the issued Ordinary Shares. The Directors, those connected with them and other Shareholders have irrevocably undertaken to vote in favour of the proposed resolution in respect of an aggregate of 211,294,246 Ordinary Shares (including the 125,565,618 Ordinary Shares referred to above), representing approximately 68.46 per cent of the issued Ordinary Share capital of the Company. This information is provided by RNS
leedskier: garth, I am not in this, but it has been paying dividends year on year. At the current share price, if the dividend paid last year is paid this year, bearing in mind employees own a large slice here, it will be 4.25p, with a current buy price of 46.9p, that is 9%.
chasbas: Please remember that 1. FXI placed 10% of company at 325p per share in Oct 2015 raised £14m explains how they have £17m cash in bank. FXI is therefore cash generative! 2. Can FXI really let the share price fall to 1p when the Employee Benefit Trust created in Dec 2016 to "incentivise employees" owns 13% of co? 3. H1 results to 30th March are delayed till after EGM. They will probably be good. Newsflow is very good. I have a small holding and IMHO there is value here so I'm not selling. But this doesn't mean I'll get the value. Hard to believe that nice Mr Teh could behave so outrageously. I bet FXI has a buyer lined up and will be taken over with 18 months.
henchard: So, pulling out the key points: The principal effect of the proposed Cancellation is that there would no longer be a formal market mechanism enabling Shareholders to trade their Shares on AIM or any other recognised market or trading exchange. The Board intends, following the Cancellation, to put in place a matched bargain settlement facility (the "Proposed Facility") ... to serve as a limited platform for Shareholders and other persons to seek to buy or sell Shares. However, the Proposed Facility is likely to offer a substantially lesser degree of liquidity and potentially less attractive share prices than are currently available via the Company's quotation on AIM. Following the implementation of the Proposed Facility, the Board intends to monitor its popularity amongst Shareholders and will review it at regular intervals to consider whether it remains cost effective. Any guesses as to the opening share price on Tuesday?
chasbas: I suspect recent profit warnings from a number of technology companies have contributed to share price weakness. I can see no reason why FXI will be affected by warnings from TRAK, NCC etc. Yes, share price should bounce on 15th March if not before. Management does quite a bit of PR after results...they should have a great story this time round with GIANT 2016 for SMEs. A statement that trading post year end is strong would also help.....
Fusionex share price data is direct from the London Stock Exchange
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