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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nettworx | LSE:NTWX | London | Ordinary Share | GB00B0TLVX30 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8804U Nettworx PLC 16 April 2007 Nettworx PLC 16 April 2007 Nettworx plc ("Nettworx" or "the Company") Investment of #1.46 million in SIM4TRAVEL HOLDINGS PLC Nettworx plc ("Nettworx") the company created to invest in the fast-growing area of voice, video and data networks is pleased to announce the investment of #1.46 million in SIM4travel Holdings plc ("SIM4travel") for shares and convertible notes representing 25.27% of the fully diluted share capital of SIM4travel. This is Nettworx's first investment. SIM4travel is quoted on PLUS Markets Group under the symbol SIMO. Nettworx plc has carefully managed its cash position since its admission to AIM, and up to this investment had #9.56 million representing 9 pence per share. SIM4travel, a winner of the Mobile News Award for innovative service in 2007 is a network independent company that provides travelers with a new international SIM card for use whilst abroad. The new SIM4travel SIM offers customers an alternative to their domestic network solution that significantly reduces, and in some cases completely avoids international roaming charges. With coverage on 120 countries SIM4travel offers a global service and savings of up to 85%. SIM4travel is building an impressive client list that includes British Airways, Carphone Warehouse, Dixons and Boots, as well as the Collinson Group, the operator of airport lounge VIP schemes, such as, Priority Pass. SIM4travel is led by a management team that has substantial experience of building businesses in the mobile telephony sector. This successful team includes Paul Buck, Managing Director, ex of Phones4u, who in 2003 sold his phone repair and refurbishment company to Fonebak PLC - the UK's largest mobile phone refurbisher. In 2004 he set up SIM4travel with Suk Grewal, Marketing Director, ex Head of Brands and Communications at Phones4u. The proceeds of the investment will be used by SIM4travel in three areas; platform development to support the planned growth of the business, product development, to increase both the product offer and its technical capabilities. Finally, the proceeds will be used for channel development, to build on its success with "blue chip" clients and to support a move into new market sectors. Jason Drummond, Executive Chairman of Nettworx, said: "We are delighted to have completed our first major investment, and in SIM4travel we believe that we have identified an innovative technology company that can deliver substantial returns." Paul Buck, Managing Director, SIM4travel said: "I am delighted to have secured investment from Nettworx, with their successful experience in technology companies, Jason Drummond and Jonathan Rowland will be a real assistance in supporting the continued growth of SIM4travel and helping us build an outstanding company with a real differential advantage." Contacts: Nettworx PLC 020 7087 7970 Jason Drummond Jonathan Rowland Canaccord Adams limited 020 7050 6500 Chris Bowman Holborn Public Relations Limited 020 7929 5599 Trevor Phillips/Mark Longson This information is provided by RNS The company news service from the London Stock Exchange END MSCOKNKNFBKDQQD
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