Insetco Share Discussion Threads

[cheltspy] 19/11/2004 18:21

Just read on another BB that Edwin Coe, Solicitors are making holding enquiries to individual share holders. I assume that nominee accounts would have been made through just your broker.


Does anyone have any info as to what this is about?

[blank frank] 17/11/2004 19:24

Company REFS - Really Essential Financial Statistics November 2004

Telecommunication Services [with comments by B.F.]

27 companies, from Vodafone (market cap. £92.39Bn.) to PNC Telecom (market cap. £0.66M.). Incite Holdings is listed as the sixth smallest by market cap., at £8.07M. (at 27.5p).

Only 15 of the 27 are shown as having profit margins. Losses in this sector often seem to be expected &/or accepted to some degree.

The sector weighted average prospective price earnings ratio (PER) is 13.6 (market weighted average 13.5). INC's is shown as na. The two highest are 2 ergo with 88.2, and Redstone with 800 (!).

With only 27 constituents, listed telecom investments have a certain scarcity value; the support services sector for example is shown has having 174.

And listed telecom tiddlers are even rarer. 19 of the 27 are shown as having market caps. of about £20M. or more. Of the 8 tiddlers (which are all on AIM), half have no positive prospective PER. Which leaves just 4 where profitability is expected soon (if not achieved already):-

TTG Europe - Market cap. £11.8M.
IDN Telecom - Market cap. £10.3M.
Envesta Telecom - Market cap. £4.82M.
Telephone Maintenance - Market cap. £2.65M. (at 3.5p)

[cheltspy] 10/11/2004 19:46

Possibly not, it will have to release results soon for the year ending October 2004. I've got a funny feeling it mite be taken private. Where this leaves the shareholders outside the main holders is any one guess. Properly with a 10p or less pay off.

I did however notice that spurs-on logo on the news yesterday relating to the new manager. So business is developing all be it very slowly.

[georgeski] 09/11/2004 18:58

Are these ever coming off suspension. Any idea, anyone.

[christophelamaison] 25/10/2004 11:28

What's DNS?

[cheltspy] 16/10/2004 17:02

Its working ok here. Its a US server quite a few sites go down Fri/Sat as DNS gets refreshed.

[christophelamaison] 15/10/2004 12:35

That link doesn't work Cheltspy, doesn't bode well.... :o(

[cheltspy] 01/10/2004 21:05

The web site has been updated



"Stats: at launch, over 7,500 subscribers registered for spurs(((on!))), over 1000 subscribers registered for hammers(((on!))) in a week and registrants receive a months free trial before becoming subscribers."

[cheltspy] 14/9/2004 22:55

Insight into Incite
By Clay Harris
Published: September 14 2004 03:00 | Last updated: September 14 2004 03:00

Incite Holdings, suspended from trading on Aim since January and censured by the Stock Exchange last week, still has true believers.

Bruce Pleckinger, a US investor who has lived in the UK for more than 20 years, last week injected another £460,000 into Incite, which sends videos, text messages and voice mails to subscribing supporters of Tottenham Hotspur and West Ham among other clubs. He had already invested at flotation 12 months ago and afterwards.

Pleckinger, 50, made his money with Pacific Interiors, a City-based office fittings company that he sold in 2001. Since then, his day job has been as director of Vision Management Europe, investing in companies at the pre-IPO stage.

It's fair to infer, Pleckinger admitted, that he wouldn't be putting in more money if he didn't expect to see the shares resume trading. Now owning a fifth of Incite, Pleckinger won't be drawn on whether he might join the board. But he said: "I have a vested interest in seeing it succeed."

[cheltspy] 11/9/2004 14:47

So it does appear Dallaglio has parted from the company.

Leeds on has ended.

Its does appear the company may survive but I can't see a price much more than 10p on return, if that.

Unless it can win a good contract, the company is still too much in the dark about this. I can only assume Bruce Pleckinger knows something different.

[cheltspy] 11/9/2004 14:36

Stock Exchange censures media company Incite for concealment
Stephen Foley
The Independent - United Kingdom; Sep 11, 2004

INCITE, THE sports text messaging group which hired England rugby star Lawrence Dallaglio as a director, has been censured for concealing the perilous state of its finances from investors.

The company yesterday became only the third ever on the AIM market to be publicly rebuked by the London Stock Exchange.

The Exchange decided not to levy a fine because the company has run short of cash, but made public its criticism that Incite "failed to adequately disclose changes in the company's financial standing".

The company is also still involved in a spat with Evolution Beeson Gregory, its former stockbroker, over who is to blame for a further breach of stock market rules.

Richard Griffiths, EvBG's chairman, sold pounds 1.6m of Incite shares at their high point last October, but the disposal was not disclosed for three months. It is thought that Mr Griffiths acquired the shareholding for only pounds 218,000 before the flotation.

Incite yesterday for the first time publicly put the blame on Mr Griffiths, although he says he informed the company in October. An Incite spokesman said the company was only made aware of the sale in January. "We made the announcement as soon as we were aware that the trade had happened."

Mr Griffiths, whose Evolution Group acquired Beeson Gregory in 2002, said: "Neither Evolution nor Mr Griffiths is aware of any investigation into [his] personal investment in Incite."

Incite, which was floated last September, sends text and picture messages to rugby fans and to followers of several Premiership football clubs. Its shares have been suspended since January, when it failed to file its maiden accounts by the legal deadline.

The company said at the time that it was in acquisition talks that made it inappropriate to report results, but it has since emerged that the company's trading performance was far below what the market had been led to expect.

The Exchange concluded: "The lack of revenue generated and the lack of working capital of the company amounted to a change in its financial position... which, if made public, would be likely to have led to a substantial movement in the price of its AIM securities."

Dallaglio was hailed last September as the company's "market development director for sport", but his involvement with the company has since ended.

Incite's founder and managing director, Simon Hellier, said the Exchange censure drew a line under the regulatory investigations into the company. "That's the end," he said.

The company is hoping to re-emerge with a new business model, but has parted company with its financial adviser, Beaumont Cornish, and its broker, Evolution Beeson Gregory.

[cheltspy] 11/9/2004 14:31

Incite is censured by stock exchange: Naivety no excuse, admits cash-strapped company
IAN GRIFFITHS
The Guardian - United Kingdom; Sep 11, 2004

Incite Holdings, which provides sports content for mobile phones, has been censured by the stock exchange for failing to tell investors that it was running out of cash.

Shares in the Aim-listed company were suspended in January when it failed to publish its accounts. The company had joined the market in September 2003 when it raised pounds 1.5m from investors.

It is only the third time the stock exchange has censured a company in this fashion. But it said its seven-month investigation identified sufficient deficiencies in the company's actions to warrant criticism.

The stock exchange's inquiries established that in the period from Incite's admission to its suspension the lack of revenue generated by the company and its subsidiary and the lack of working capital of the subsidiary amounted to a change in its financial position, a change in the performance of its business and a change in its expectations of its performance "which, if made public, would be likely to have led to a substantial movement in the price of its Aim securities". Last night a spokesman for the company accepted the criticism and said that its executives had learned from their mistakes.

"The business model was flawed in that the anticipated revenues did not come through quickly enough," the spokesman said. "The company was new to the market, everyone was focused on the business and they behaved, with hindsight, naively. But naivety is no excuse."

The spokesman said that the company's executives were working hard to save the business. New cash has recently been raised and the company is exploring possible new content contracts which have the potential to secure its future.

If a new contract is won it will pave the way for Incite to restore its listing. The shares have been suspended at 27.5p, just 2.5p above the float price and well below the 75p high recorded shortly after the company came to market.

Incite's main business is selling sports pictures and text information which is transmitted to a customer's mobile phone. The company has signed deals with Tottenham Hotspur and West Ham United to provide the service to the clubs' fans

Lawrence Dallaglio, the former England rugby captain, is the marketing development director of Incite's operating subsidiary. But he is a director in name only and his involvement has been restricted to providing content for the service. Even that involvement is being scaled back.

Incite has also attracted the attention of City regulators following the late reporting of a significant share stake.

Richard Griffiths, the former chairman of Evolution Beeson Gregory, sold his 8.2% stake in Incite in October 2003 but the transaction was not reported to the stock market by Incite until January 2004.

Stock exchange rules require immediate disclosure of any movement in share holdings in excess of 3%. Earlier this year Mr Griffiths attributed the three-month delay in reporting the sale to an administrative oversight.

He paid about pounds 218,000 for his stake before the company announced plans to list. Mr Griffiths sold his entire stake for about pounds 1.5m a few weeks after Incite was floated.

[georgeski] 10/9/2004 07:48

I think that this rns is preparing for the company to come off suspension.
It's changed advisers
Raised funds
It's had it's wrists slapped for being naughty.

Guess we will have to wait and see.

[cheltspy] 10/9/2004 07:30

They are in trouble with AIM. But what is AIM doing about it?.

"The Exchange has determined that the Company therefore breached its obligations
under paragraph 10 of the AIM rules and is accordingly criticised."

So are they being delisted or not ?

[cheltspy] 07/9/2004 18:00

7 September 2004
INCITE HOLDINGS PLC
("Incite" or "the Company")

Placing & EGM Result
Placing

Incite the mobile media specialists in the sports and lifestyle sectors has
placed an additional 4,600,000 shares at 10p with Bruce Pleckinger who now holds
6,225,000 ordinary shares of 1p each in the Company representing 18.2% of the
Company's issued ordinary share capital.

EGM
Resolutions were put to shareholders at an EGM to increase the authorised share
capital of the Company, obtain an exemption from the pre-emption rights
conferred by Section 89 Companies Act 1985 and obtain authority pursuant to
Section 142 of Companies Act 1985. All resolutions were passed unanimously.

[cheltspy] 07/9/2004 17:59

Strange how much did he pay for them?

[charlie100] 07/9/2004 17:05

news out today on RNS

[cheltspy] 05/8/2004 20:38

I've still heard nothing to. £200,000 share issue appears to be rather small as this assumes there going to get around 35p a share.

Has the (((on))) sites done rather better than expected?

Most Strange.

[georgeski] 05/8/2004 19:58

I've not had anything. But my shares are held in a Halifax nominee account and
I'm always the last to hear anything.
Hope it's true. At least it means somethings happening.

[cheltspy] 04/8/2004 19:28

I'm confused has anyone else received notification by letter of a proposed share issue ?

Details as posted on another BB:-


Notification dated 29th July.Ex.Gen.Meet. on Friday,20th,Aug,10am.Ex Simon Hellier,Director.
Share capital be incresed by £200,000 to £10,200,000 by creation of additional Ord shares of 1p each

[cheltspy] 01/8/2004 17:27

It would appear so, but will have to wait for RNS tomorrow to confirm.

[georgeski] 01/8/2004 17:00

I guess that it also means that we still have a business that is trying to sort itself out and that can only be good news.