Huveaux Share Discussion Threads

[azalea] 25/8/2005 13:01

At last HVX much improved and strengthened position is being recognised and seeing its share price move off its base with a 5% rise. FY results should show its fully back on track.

[ckafetz] 23/8/2005 22:00

Have a read of this from 'Growth Company Investor' dated 3rd August 2005. The last paragraph shows how strong an aquisition Epic really is :



John van Kuffeler's publishing and media play Huveaux, a Company Profile recommendation at 41p in March, is taking over Epic, another stock we have backed (at 105p back in February 2004), in a recommended cash and shares deal.

The proposed acquistion values share in the e-learning counter at 95.5p, a 44 per cent premium to the price at which Epic was trading prior to the announcement. The actual offer, which values Epic at £22.7 million, is 1.33 new Huveaux shares (current share price 45p) and 35p in cash.

Van Kuffeler, chairman, says Epic is a great strategic fit and occupies a market leading position in a burgeoning sector. If the deal goes through, Epic will be integrated into a business which seems to be going great guns. In the seasonally quieter half to June, Huveaux scored a 73 per cent profits leap to £630,000 on sales lifted 96 per cent to £9 million.

Epic, the UK market leader in its field, is also trading strongly. Last month incumbent chief executive Donald Clark unveiled record results for the year to May. Pre-tax profits lifted 53 per cent to £2.1 million on a 11 per cent rise at the top line to £8.1 million. Despite returning £3 million to shareholders during the year, cash balances remained healthy at £10.3 million (£12.5 million), allowing the payment of a total dividend of 4.8p, a 166 per cent leap.

In light of this, Huveaux's bid is not inordinately generous. Sit tight and await developments.


KC

[3pilot] 23/8/2005 15:07

I missed this, but its good there was a bit of competition over EPI - indicates it has commercial value.


Source: PR Newswire
Released: 19-08-2005

FUTUREMEDIA DECIDES TO NOT MAKE OFFER FOR EPIC GROUP PLC

BRIGHTON, UK, August 19, 2005 /PRNewswire-FirstCall/ -- Futuremedia plc (NasdaqSC: FMDAY), a leading European e-learning and managed benefits services provider, today announced that upon further review it does not intend to make an offer for Epic Group plc ("Epic") (LSE: EPI.L).

On August 12th Futuremedia announced it would seek a recommendation from
the Board of Epic regarding a possible offer. However, during its
discussions Futuremedia was advised by the Board of Epic and its
Advisors that any offer from Futuremedia would have to be an all-cash offer.
On this basis, and upon further review and consideration of the
economics of such a transaction, the Board and Management of Futuremedia
determined that such an offer would not be in the best interests of the
Futuremedia shareholders.

Leonard M. Fertig, Chief Executive Officer of Futuremedia, said, "The
Futuremedia Board wishes Huveaux every success with its acquisition of
Epic and indeed we look forward to the possibility of potentially
working together in the future as prospective commercial partners in
growing our respective businesses."

[3pilot] 23/8/2005 13:45

Agreed, It would be interesting to see how we now stand EPS, EPI were very profitable & were returning cash to shareholders - there will be some cost savings (I guess) with the takeover.

[ckafetz] 22/8/2005 19:44

I don't think there was really a contest. UP UP and awaaaaaaaaaaaaaay

[3pilot] 22/8/2005 09:45

A real vote of confidence in HVX management;

As at 3.00 p.m. (U.K. time) on 19 August 2005, valid acceptances of the Offer
had been received in respect of a total of 20,728,153 Epic Shares, representing
approximately 85.88 per cent. of the existing issued share capital of Epic.

[3pilot] 20/8/2005 18:54

azalea - the directors of HVX appear to be very shrewd, they made the deal self financing & may even have cash left over of £2m.

This from the offer document;

8. Financing of the Offer

The cash consideration payable under the Offer will be fully financed from an
#8.5 million bridge finance facility with Bank of Scotland. Upon completion,
this facility will be repaid using Epic's existing cash resources. Details of
these arrangements are set out in the Equivalent Information Document which will
accompany the Offer Document.

[azalea] 20/8/2005 18:40

3Pilot
Many thanks for the above, a useful pointer to the way ahead. Perhaps now that EPIC is a done deal, the constant buying by institutions may bear fruit in the form of the share price ripening somewhat.

[3pilot] 20/8/2005 17:54

I think the Epic purchase was excellent way to add shareholder value & enhance earnings - we have nothing but buying by the institutions & this may continue now the result is known.

These are the highlights from their finals published on July 14th.

................................................. 2005 2004 Change
Turnover.................................... #8.1m #7.3m +11%
Operating profit.......................... #1.6m #0.9m +77%
Profit before tax......................... #2.1m #1.4m +53%
Basic earnings per share ..............6.3p 4.0p +57%
Total dividend for year....................4.8p 1.8p +166%
Cash balances...........................#10.3m #12.5m

They are a cash generative business with cash in the bank.

(apologies for layout, no matter what you do it messes up the formatting)

[azalea] 20/8/2005 14:00

Barring the unforseen, I think we will have to wait to see the FY results before that question can be answered.

[ckafetz] 20/8/2005 10:37

I'm bored already. Roll on 3pm and the football kick off !!

Whats peoples Christmas target for this share? I would have to say mine would be 60p at the moment

KC

[3pilot] 19/8/2005 09:40

Good result;

Offer Update

RNS Number:2761Q
Huveaux PLC
18 August 2005

Not for release, publication or distribution in or into the United States,
Australia, Canada, Japan or any other jurisdiction if to do so would constitute
a violation of the relevant laws of such jurisdiction


For immediate release 19 August 2005


Epic Group plc ("Epic")
Offer update


The board of Huveaux announces that by 3.00 p.m. (U.K. time) on 18 August 2005,
the first closing date of the Offer, valid acceptances of the Offer had been
received in respect of a total of 18,866,747 Epic Shares, representing
approximately 78.17 per cent. of the existing issued share capital of Epic as at
3.00 p.m. (U.K. time) on 18 August 2005.



This total includes acceptances in respect of 12,399,243 Epic Shares,
representing approximately 51.37 per cent. of the existing issued share capital
of Epic as at 3.00 p.m. (U.K. time) on 18 August 2005, pursuant to the
irrevocable undertakings and the letter of intent to accept the Offer from the
Directors of Epic and certain other Epic Shareholders.



In accordance with the terms and conditions of the Offer, the Board of Huveaux
announces that all outstanding conditions of the Offer have either been
satisfied or waived save for the condition relating to the admission of up to
32,563,191 New Huveaux Shares to AIM, a market operated by the London Stock
Exchange, becoming effective ("Admission"). Accordingly, the Offer is declared
unconditional in all respects subject only to such Admission, which is expected
to become effective on 22 August 2005. The Offer will be open for acceptance
until further notice but the Mix and Match Facility is no longer available for
acceptances.



Huveaux intends to procure that Epic applies to the London Stock Exchange for
the trading of Epic Shares on AIM to be cancelled. It is anticipated that such
cancellation will take effect no earlier than 20 September 2005, being 20
business days after the Offer is expected to be declared unconditional in all
respects.

[3pilot] 18/8/2005 14:10

If DKW acting as market maker are buying at49p what price are they selling for to their clients ?

[ckafetz] 17/8/2005 22:56

Good shout 3Pilot

[3pilot] 17/8/2005 21:49

Out after the bell;

Huveaux says will declare Epic offer unconditional after 51 pct acceptance

LONDON (AFX) - Publishing group Huveaux PLC said that following an amendment
to its bridge loan facility, it will be allowed to declare its offer for Epic
Group PLC wholly unconditional upon receipt of acceptances in respect of 51 pct
or more of Epic shares.
On Monday, Huveaux said it has firm and tentative acceptances of its
recommended offer for online training materials company Epic from 51.8 pct of
the shareholder base.

tc

I am guessing that the recent purchases by HBOS, BWD will all vote for HVX (which is maybe why they are increasing their stake) otherwise they wouldnt be increasing their holding.

[3pilot] 17/8/2005 12:30

HBOS still buying - also Rathbone added along with Brewin, although Brewin maybe buying on behalf of clients.

[3pilot] 16/8/2005 09:24

Judging by the fall in EPI yesterday they dont consider the bid from Futuremedia serious.

[frances2] 15/8/2005 20:52

this co. desperately needs to demonstrate organic growth

[psolomons] 15/8/2005 19:23

Trouble is if HVX have to pay more for epic because of the interest from futuremedia it will be reflected in a downward move of the HVX share price.

Deal needs to be sorted before any major share price moves. imho.

[ckafetz] 15/8/2005 17:56

If thats the case then at least the share price should shoot up in response. I'm happy if that happens.

[3pilot] 15/8/2005 11:37

azalea - I agree, there is a bit of a freenzy going on at the moment with M & A activity.

[azalea] 15/8/2005 10:38

There are some odd things going on with HVX. Just a guess, when the takeover is all done and dusted for EPI, HVX could well be looking down the barrel of someone else's takeover gun.

[ckafetz] 14/8/2005 18:42

What happened with the share price on Friday? Chart shows it was up 1.5p @49.5p and then it shot back to 48p at the close.