Intercede Share Discussion Threads

[grupo guitarlumber] 24/3/2004 21:29

Schlumberger to Spin Off Axalto as Smart Card Market Recovers

24 March 2004
Clare Hirst
An independent Axalto will benefit from a booming smart card market, and will enable Schlumberger to refocus on its core business.


Analyst Comments
On March 2004, Schlumberger announced plans for an initial public offering (IPO) for its smart card subsidiary, Axalto, in a move that will enable the oilfield services provider to refocus on its core business. The IPO comes just as the market is recovering strongly, following a disastrous period that began in 2001, when demand for mobile handset SIM (Subscriber Identity Module) cards slumped. There is now strong demand for SIMs from China, and increased demand from the financial sector as deadlines approach for smart card payment

[rambutan2] 24/3/2004 15:11

this one is a real sleeper!

[garth] 24/3/2004 13:07

K,

here too. Waiting. Patiently.

G.

[grupo guitarlumber] 24/3/2004 09:47

7:43am (UK)
Schlumberger Updates Plans for Initial Public Offering of Axalto Common Stock

"PA"


Business Editors

PARIS – (BUSINESS WIRE) – March 24, 2004 – Schlumberger Limited announced today that a prospectus (“Document de Base“) has been registered with the French “Autorite des Marches Financiers“, in connection with the proposed initial public offering (IPO) of the common stock of Axalto, its wholly-owned smart card subsidiary. The company expects to proceed with an offer of a majority of the shares of Axalto, as and when market conditions permit.

Axalto, which was previously known as Schlumberger Smart Cards and Terminals, is the world’s leading provider of microprocessor cards (Gartner, 2003) and a major supplier of point-of-sale terminals. Its 4,500 employees serve customers in more than 100 countries, with worldwide sales reaching 3 billion smart cards to date. The company has more than 25 years’ experience in smart card innovation, and leads its industry in security technology and open systems. Axalto generated a net profit of 25 million in 2003 on gross revenues of 768 million.

Axalto is strongly positioned in the mobile communication, financial and public sector markets, while offering innovative solutions for fast-growing, emerging, microprocessor card applications. The company’s strengths are backed by a deeply engrained culture focusing on excellence, customer service, innovation and profitability.

About Schlumberger:

Schlumberger is the world’s leading oilfield services company supplying technology, project management and information solutions that optimize performance for customers working in the oil and gas industry. The company employs more than 50,000 people of over 140 nationalities working in 100 countries. In 2003, Schlumberger operating revenue was 11.5 billion. For more information, visit www.slb.com

Notes:

The French “Autorite des Marches Financiers“ draws the public’s attention to the fact that Axalto Holdings N.V. is a company incorporated in The Netherlands applying for the listing of its shares in France. The applicable regulations concerning public information, investor protection, and the company’s undertakings to the regulatory authorities and the markets are described in the “document de base“.

This announcement is not an offer of securities for sale in France or elsewhere. It does not constitute an “appel publique a l’epargne̶1; in France. Any listing on a regulated market, and any offering to the public in France will be subject to the publication of a “note d’operation220; that has received a “visa“ from the French “Autorite des Marches Financiers“.

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Act“). Neither Schlumberger nor Axalto intends to register any portion of the planned share sale under the Act or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about Axalto and its management, as well as financial statements.

This announcement is only intended for investment professionals, high net worth individuals, partnerships, associations or trusts and investment personnel of any of the foregoing (each within the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001) and any other persons to whom it may be communicated lawfully. No other person should act or rely on it. Persons distributing this announcement must satisfy themselves that it is lawful to do so.

The distribution of this announcement in certain countries may constitute a breach of applicable law. This announcement should not be released in Canada, Australia or Japan. The information contained in this announcement does not constitute an offer of securities for sale in Canada, Australia or Japan.

– 30 – NR/ny*

CONTACT: Schlumberger Limited

Stephen Whittaker, [phone]

[e-mail]

[grupo guitarlumber] 24/3/2004 09:47

kmac, watching and waiting.

Sure to get more exciting during April.

Good Luck.

[kmacgre] 24/3/2004 09:43

Bit lonely talking with myself - who cares.
Year end March 31, although a long wait until we get the actual figures.
My best guess is conservative with 2H sales 980K-1M, and 2H losses cut to 160K from last years 554K.
This should clearly put IGP in profit throughout 2004/5.
It will then be fascinating to see if anyone picks up a few shares as the long term outlook is improving fairly quickly.
Regards to anyone who may be out there. Car 54 et al.

[kmacgre] 23/2/2004 09:59

Most interesting article - thanks for the link Ariane.

[kmacgre] 17/2/2004 14:33

Garth: Many thanks.

[garth] 17/2/2004 14:04

kmacgre, should work. Extract only:

"Are smart cards, SIM cards ready to take off?
16 February, 2004
by Liam Lahey

Smart cards are one allegedly great idea that hasn't really taken off yet in North America. That could be about to change, with opportunities increasing for the smart and SIM (subscriber identification module) card markets within the North American marketplace.
Aaron McPherson, a research manager for Framingham, Mass.-based Financial Insights (a division of IDC Corp.), said smart cards had yet to make a serious impact in the American market due to current telecommunications infrastructure, which makes it relatively cheap for merchants to simply dial up and get a real time check on a credit card. "

[kmacgre] 17/2/2004 13:54

Maywillow. I can't open the link for some reason. Was it interesting?

[grupo guitarlumber] 14/2/2004 10:37

Oberthur Boosts Sales In Q4 On Back of EMV, SIMs

[grupo guitarlumber] 14/2/2004 10:06

Valuable Smart Card Industry Information from Past Conferences Now Available to Public at Smart Card Alliance Online Store

[kmacgre] 13/2/2004 09:26

Maywillow thanks. It's the system currently used in the US and makes a lot of sense. Nice to find others have an eye on IGP for an imminent move up.

[garth] 13/2/2004 07:47

Thanks Maywillow,

still waiting for the surge that fills that gap up to 30p :-)

G.

[maywillow] 13/2/2004 07:14

Chip and PIN TV campaign on its way

[rambutan2] 04/2/2004 19:20

yes, that makes sense, unless the mms had some long lost ones in the deep freezer. best scenerio would be one of the long-term big holders letting another institution in.

[garth] 04/2/2004 19:00

I reckon a deal at a pre-arranged price with a buy at 25p and a sell at 24.5p with the 0.5p paying the commission. If they were both buys I see no way that would be unchanged on the day. Question is - will that push us up another 1p or more at the open?

Interesting.

G.

[rambutan2] 04/2/2004 17:51

and they must be buys!!!!!!!!!!

[rambutan2] 04/2/2004 17:47

check out the trades!!!!!!! !!!!!!!!! largest ive ever seen in this.

[jailbird] 22/1/2004 15:45

ON the move again guys...

[garth] 22/1/2004 10:29

Thanks Maywillow,

interesting read.

Just a reminder from the interims:

"Richard Parris, Chairman & Chief Executive Andrew Walker, Finance Director

Chairman's Statement

Results

The Group has produced a solid operating result in the first half of this year, which supports our plans for the full year. During the period the management team focused on delivering an improved performance across all aspects of our business. I am pleased to report that for the fifth consecutive half year period we have made excellent progress towards sustainable profitable operations through the development and resale of our own software products. Whilst it is disappointing that delays in contract awards have resulted in sales remaining flat compared to the same period last year, the proportion of sales attributable to edefice has increased from 52% to 62%. It is also encouraging that the number of requests for tender, along with general pre-sales activities, are at an all time high. This is a very strong indicator of future sales growth and increasing opportunity for the Group."


G.