Oneclickhr Share Discussion Threads

[charmer1_23] 17/9/2004 11:14

LONDON (AFX) - OneClickHR PLC is relying on the success of its new software
and a bolstered sales team to lift revenues in the second half, after a
disappointing second quarter pushed the company to an interim loss.
The human resources software and services company reported a pretax loss of
730,170 stg versus a profit of 64,829 stg a year earlier, giving a loss of 0.66
pence a share, compared to profit of 0.1 pence.
Revenue in the six months ended June fell to 2.29 mln stg from 2.71, below
the group's expectations, after sales of its existing range of boxed HR software
slowed in the second quarter.
OneClickHR blamed lower than expected head count and productivity within its
sales team, which it has now expanded. It expects sales of existing software to
be back on track during the second half of the year.
On a positive note, sales of its new human capital software - HR.net - were
ahead of expectations in the first half and have continued their "positive
trend" in the second half, the company said.
"I believe all this before the formal launch of the product in September
2004 must auger well for the future," chairman Lord Sheppard of Didgemere said
in a statement.
"While the level of sales of our existing products was disappointing in the
second quarter, we know the reasons for this and believe we have taken the
action needed to correct the position".
In a separate statement, disabledHR said it won new contracts worth over
600,000 stg with Hastings Direct Plc, Old Mutual plc and Winterthur plc for the
supply of the new HR.net software.
[e-mail]
ma/ab

[lom2] 04/9/2004 18:41

bust by xmas, techneist said will need more rights issue?

[safman] 06/8/2004 11:11

always said that their HR software looks good.. and HR.NET is theirnew platform.. its good to see this .. having said that - still wary of their promises...

[opthalmist] 06/8/2004 11:09

Is this a buy?

[safman] 06/8/2004 11:08

RNS Number:7090B
OneClickHR PLC
06 August 2004


OneClickHR PLC Licenses Its HR.net Software to Accenture

OneClickHR plc ("OCHR"), a UK-based developer of human resources software
solutions, has licensed its HR.net software to Accenture HR Services, an
Accenture (NYSE: ACN) business that provides people-management services to
enterprises on an outsourced basis.

Under the terms of the agreement, Accenture HR Services will use and sub-license
HR.net, OneClickHR's latest-generation human resources software, within its own
business and with its clients.

"OneClickHR's HR.net software is a good fit with our mid-size clients," said
Andrew Middleton, chief operating officer of Accenture HR Services in Europe.
"We look forward to working further with OneClickHR and its new product to help
our clients improve their business performance."

Frank Beechinor, CEO of OneClickHR, said: "HR.net is a new and technically
innovative product that is unlike any other application in the HR software
market. The software is web-based allowing easy deployment across the Internet,
is fully multi-lingual and comes with completely configurable workflow and
screen design functionality. HR.net is particularly well suited to mid-range
clients with between 1,000 and 50,000 employees. We are delighted that Accenture
HR Services will be using our technology and look forward to a successful
business relationship. We are particularly happy that this deal has been
concluded in advance of the formal launch of HR.net which is scheduled for
September 2004"

About OneClickHR PLC

OneClickHR plc is one of the UK's leading suppliers of Human Resources (HR)
Software which it sells under the Vizual brand. The business is headquartered in
Kent with an offshore development base in Chennai, India. Over the past 5 years
OneClickHR plc has established itself as a leading supplier of HR solutions to
small and mid sized businesses both in the UK and overseas. The Company has
worked on the development of HR.net, its next generation HR software technology,
for the past two and a half years (www. vizual.co.uk, www.oneclickhr.com).

About Accenture HR Services

Accenture HR Services, an Accenture business, provides people-management
services to enterprises on an outsourced basis. Employing advanced technology
and best-of-breed human resources practices, Accenture HR Services works in
close collaboration with its clients to accommodate the unique needs and
characteristics of their business operations and people. In this way, Accenture
HR Services enables organizations to concentrate on optimizing their core
business activities while reducing their costs and realizing the greatest
possible value from all of their assets. Its home page is (www.accenture.com/
hrservices).

About Accenture

Accenture is a global management consulting, technology services and outsourcing
company. Committed to delivering innovation, Accenture collaborates with its
clients to help them become high-performance businesses and governments. With
deep industry and business process expertise, broad global resources and a
proven track record, Accenture can mobilize the right people, skills and
technologies to help clients improve their performance. With approximately
95,000 people in 48 countries, the company generated net revenues of US$11.8
billion for the fiscal year ended August 31, 2003. Its home page is
www.accenture.com.

Contacts

OneClickHR plc Frank Beechinor Group CEO Tel: [phone]

[debbie_from_dallas] 09/5/2004 11:35

Safman oh safman don't leave the party now. I was enjoying the banter and your incisive, perceptive, insightful and observant musings. Please deliberate on these matters with a lonely woman a little longer

[debbie_from_dallas] 04/5/2004 11:25

Fair comments Safman. But where could the upside be. On the simple PE view they need to create some black ink first and that is £1.5m away at the moment. To capture that £1.5m they need sales of £3m over what they have today. They can't reduce costs any further and releasing the new widget is going to add to costs initially. So all comments about upside seem a tad naive. Why even suggest that there might be one. They only upside is for someone buying in today at their lowest point following several years of massive misses on the sales front, with the need to write double the sales they have ever written before and still no sight of this new widget which they have been mentioning in press releases since 2003 now. As for a positive HR market I think that is overbaked. The outpouring of new HR law from the EU is now slowing and the trend is towards reducing headcount with increases in productivity coming from more investment in automation, technology and sending jobs offshore. The lower end of the market will be bought up by Microsoft over the next five years and the top end will Peoplesoft, Oracle and SAP. And what of the online HR business where is that gone. No mention of that in recent whinge releases. Sorry for the moaning but these guys aaahhhhh Listen to the call for NoClicksLeftHR.bomb. Dead Man Walking - Dead Man Walking

[safman] 03/5/2004 16:40

excuse me...

read my previous posts... i think HR..software is in great demnad which it is..second..herald inv..are v. good tech f managers... i am very disappointed with OCR.. they announced they were in the black in OCT.. and it did seem positive to me at the time.. i will certainly not encourage ppl to buy this.. it is risky ..if it does pull off..then there will be decent upside...

i still hold.. for a recovery...

[debbie_from_dallas] 03/5/2004 16:31

Big percentage lost but thankfully small loss in absolute terms. Bitter and twisted - no. Don't play in this kitchen if you cannot stand the heat and all that applies to us all. Can't be bitter about making losses. But I can be cynical of statements from the CEO's of these businesses depositing blame for missed targets on everything except their own contribution and lack of leadership. Furthermore the passing off on to us, and presuming that we are naive enough to accept it, of promises of jam tomorrow based on new technology has jarred on my nerves over recent years. If there is no bread today it is difficult to see where we will have jam tomorrow. Finally I see Safman has dropped the ball on this discussion. I am suspicious of his/her constant talking up of this stock.. I think thou dost protest too much

[praipus] 01/5/2004 13:39

Debbie

Forgive me for asking but are you short? If so how CFD, broker spread bet etc? Or just bitter and twisted from a thumping great loss?

[praipus] 01/5/2004 13:39

Debbie

Forgive me for asking but are you short? If so how CFD, broker spread bet etc? Or just bitter and twisted from a thumping great loss?

[praipus] 30/4/2004 14:37

Thanks safman, assuming you have some of these what made you buy them?

seems to be working fine now.

A college lecturer recommended theses to me for the 360 appraisal software which is free in its most basic form apparently.

Secondly an HR consultant tells me that the number of employment tribunals has increased significantly in recent years and corporates are now having to have their employment contracts reviewed on a regular basis. With EU legislation and regulation increasing and employee rights increasing OneClick seems well positioned.

[safman] 29/4/2004 15:01

no..they have just raised finance.. hr.net yet to come out..

[praipus] 29/4/2004 14:58

Web site not working have they gone bust?

[safman] 24/3/2004 10:20

Still in this GG.. have to say very disappointed indeed.. but i am holding out here...

[greengiant] 24/3/2004 10:16

lost one out switch the lights off

gg

[safman] 24/3/2004 10:05

disappointed myself but there is a placing at 5p..i hope they will be moving on from here as i still think their products are quite good..

[stewartjrl] 24/3/2004 09:59

OneClickHR PLC 24 March 2004

Placing of New Ordinary Shares, Capitalisation of Unsecured Loans, Cancellation of Warrants and Consideration of a Serious Loss of Capital

Introduction

The Company today announces that it intends to raise £2,400,000 (approximately £2,195,000 net of expenses) through a Placing of 48,000,000 Placing Shares at 5p per share by KBC Peel Hunt Ltd. The Company also announces that it has conditionally agreed to capitalise £1,475,000 of the Unsecured Loan Stock in return for 33,541,359 Consideration Shares and to redeem the balance, £150,000, of the Unsecured Loan Stock. As part of this Capitalisation all of the Warrants will be cancelled in return for 8,985,110 Consideration Shares.

The Company also announced today its preliminary results for the year ended 31 December 2003.

The funds raised from the Placing will be used to provide the Group with additional working capital to implement the launch and continued development of the HR.net software and to further develop the sales and professional services teams to support the Company's product suite.

As the Company's net assets have fallen to less than half of the called up share capital, the Directors are required to consider with Shareholders what steps should be taken in respect of the Company. As a result, the Directors are asking the Shareholders to consider carefully the Proposals set out in this announcement.

In the absence of the Proposals, the Board is of the opinion that the Company may not have sufficient working capital for the 12 month period following the date of this announcement. As such, the Board believes that it is essential that Shareholders vote in favour of the Resolutions at the EGM to ensure the continued development of the Group. If the Resolutions are not passed at the EGM, the Company may not be able to pay its debts as and when they fall due which, at such time, could result in either a substantial reorganisation of the Group such that the business would only be able to operate at a considerably reduced level or a cessation of the Group's business. In either event the Group would not be able to capitalise on the opportunities represented by HR.net.

The Placing

The Company has conditionally placed 48,000,000 Placing Shares (representing approximately 82 per cent. of the Company's current issued share capital) with certain investors at a price of 5 pence per share. The Placing is not underwritten and is conditional, inter alia, on Admission and the passing of all the Resolutions to be proposed at the EGM.

The Placing Shares will, when allotted and issued fully paid, rank pari passu in all respects with the existing Ordinary Shares, except in relation to the right to receive dividends and other distributions declared, made or paid prior to the issue of the Placing Shares.

Application will be made for the Placing Shares to be admitted to AIM. It is expected that admission of the Placing Shares will become effective and that dealings will commence on 16 April 2004.

The aggregate proceeds from the Placing are expected to amount to £2,400,000 (approximately £2,195,000 net of expenses) and are due to be received on or before 16 April 2004. The net proceeds will be used to provide the Group with additional working capital to implement the launch and continued development of the HR.net software and to further develop the sales and professional services teams to support the Company's product suite.

The Placing is not open to all Shareholders on a pre-emptive basis as to do so would entail an additional expense which the Directors believe would be high and an ineffective use of shareholder funds. The Company also believes that it would be unlikely to obtain underwriters for a pre-emptive issue at a reasonable price.

The Capitalisation and the Warrant Cancellation

The Company issued £1,000,000 of Unsecured Loan Stock in September 2002 and issued a further £625,000 of Unsecured Loan Stock in October 2003. The Unsecured Loan Stock attracts a fixed rate of interest of 3.5% per annum and is repayable in three equal instalments on the last day of the calendar month immediately prior to the third, fourth and fifth anniversaries of the date of issue. The two issues of the Unsecured Loan Stock were supported by the issue of a total of 21,997,446 warrants to subscribe for shares exercisable at a price of 7.4p per share. The Warrants issued in connection with the two issues of the Unsecured Loan Stock are exercisable at any time during the period to 5 September 2012 and 13 October 2013, respectively.

The holders of the Unsecured Loan Stock have conditionally agreed to the Capitalisation of £1,475,000 of their 3.5% Unsecured Loan Stock holdings and the Warrant Cancellation. In consideration for the Capitalisation, the Company has agreed to the allotment and issue of 33,541,359 fully paid Consideration Shares. The balance of Unsecured Loan Stock will be repaid in cash from the proceeds of the Placing, to the extent that these exceed £2,055,000. To the extent that the gross placing proceeds are below this amount, the balance of Unsecured Loan Stock will remain in place but with amended payment terms such that it will be repayable in three equal instalments on the last banking day of the calendar month immediately prior to the 3rd, 4th and 5th anniversary of the conclusion of the EGM.

In consideration for the Warrant Cancellation, the Company has agreed to the allotment and issue of 8,985,110 fully paid Consideration Shares. Following the Warrant Cancellation, there will be no warrants in issue and the Company has no current intention of issuing any new warrants.

The Capitalisation and the Warrant Cancellation are conditional, inter alia, on Admission and the passing of all the Resolutions at the EGM.

The Consideration Shares will, when allotted and issued fully paid, rank pari passu in all respects with the existing Ordinary Shares, except in relation to the right to receive dividends and other distributions declared, made or paid prior to the issue of the Consideration Shares.

Application will be made for the Consideration Shares to be admitted to AIM. It is expected that admission of the Consideration Shares will become effective and that dealings will commence on 19 April 2004.

Background to and reasons for the Proposals

On 4 December 2003, OneClickHR announced that the Board considered it unlikely that the Group would meet market expectations of £5.5 million turnover and profit before tax of £0.1 million for the year to 31 December 2003, but would have sales of approximately £5.0 million and losses before taxation in the region of £0.5 million. This was as a result of a worse than expected performance from the UK direct sales team and the delay in appointing a senior director with responsibility for sales in the last quarter of 2003.

The Company today announced a pre-tax loss of £1.5 million for the year ended 31 December 2003. This greater than expected loss was mainly due to weaker than expected trading in December 2003, goodwill impairment provisions of £523,000 and bad debtor provisions of £115,000. As a result of these greater than expected losses, the Directors now no longer believe that the working capital available to OneClickHR will be sufficient for the Company's requirements for the coming 12 months. Without further financing the Group would have to restructure which would result in a scaling back of the operations, thereby severely restricting its ability to capitalise on the potential of HR.net, or a cessation of the business entirely.

The Directors believe that the Capitalisation will significantly improve the Company's balance sheet and give it a more appropriate capital structure. It will also reduce the cash outflow associated with servicing this debt. In addition, the Warrant Cancellation will remove the possible dilutive effect of issuing 21,997,446 new Ordinary Shares at 7.4p each at some point in the future.

The development work on HR.net has now been substantially completed and the product is scheduled for release in the first half of 2004. The Board considers that the appointment of John Bell as Group Chief Operating Officer in January 2004 and the changes effected to the direct sales personnel and processes have now successfully addressed the difficulties encountered in late 2003.

The funds raised from the Placing will be used to provide the Group with additional working capital to implement the launch and continued development of the HR.net software and to further develop the sales and professional services teams to support the Company's product suite.

Working capital

The Board is of the opinion that, without completion of the Placing, the working capital currently available to OneClickHR is not sufficient for the Company's requirements for the 12 months following the date of this announcement.

In order to resolve this situation, the Board has considered various options to re-capitalise and refinance the Company. These have included a sale of the existing businesses and an issue of equity in the Company. Due to the Company's present financial position, the Board believes that it would not, on a sale, obtain a fair price for the business and therefore does not consider that such a sale would be in the best interests of the Company or its Shareholders as a whole.

Accordingly, the Board believes that the proposed Placing, Capitalisation and Warrant Cancellation are the best means of resolving the Company's current difficulties and are therefore in the best interests of the Company and its Shareholders as a whole.

In the opinion of the Directors, having made due and careful enquiry, the working capital available to the Group, after taking into account other facilities available to it, assuming minimum net proceeds of the Placing of £1,700,000 and the implementation of the other Proposals, will be sufficient for its present requirements, that is for at least 12 months following the date of this announcement.

Loss of capital

The Company's net assets have fallen to less than half of the called up share capital. The Act requires the Directors of a public company to convene a general meeting of the Company in such circumstances to consider whether any, and if so what, steps should be taken to deal with the situation. Shareholders will be given an opportunity to discuss such steps at the Extraordinary General Meeting. The Directors have set out in this announcement their proposals for the Group. The recommendations of the Directors in relation to those Proposals are set out below.

Board deliberations

The Directors have had detailed negotiations with the holders of the Unsecured Loan Stock and the Warrants with the intention of securing their agreement to the Capitalisation and the Warrant Cancellation on the best terms for the benefit of all Shareholders.

Mark Loveland and Magnus Goodlad, having an interest in Herald Venture Management and Top Technology Ventures Limited respectively, both of which are managers of funds which are holders of Unsecured Loan Stock and Warrants, have taken no part in the Board deliberations relating to the Capitalisation and the Warrant Cancellation. Mark Loveland is the beneficial holder of 3,287,879 Ordinary Shares and has undertaken not to vote on Resolution 3 at the EGM in respect of those shares. Magnus Goodlad has no direct interest in the share capital of the Company.

Due to the interests of Mark Loveland and Magnus Goodlad, the Capitalisation and the Warrant Cancellation are deemed to be a related party transaction under the AIM Rules.

The interests of the holders of the Unsecured Loan Notes on completion of the

Proposals are set out below:

Investor Consideration Aggregate %
Shares interest in the
being issued Enlarged Issued
Share Capital

Herald Ventures Limited Partnership 17,613,997 11.8%
Herald Ventures Limited Partnership II 7,828,416 5.3%
Herald Ventures Limited Partnership III 6,262,760 4.2%
Herald Investment Trust plc 2,164,259 4.8%
Top Technology Ventures IV LP 5,029,132 3.4%
Nordea Bank Denmark A/S 3,627,905 2.4%

Board participation in the Placing Members of the Board will in aggregate be subscribing for 1,500,000 Placing Shares under the terms of the Placing. Full details of the individual subscriptions are set out below:

Director No. of new Aggregate % of the
Ordinary Shares interest in the Enlarged Issued being Enlarged Issued Share Capital subscribed Share Capital
under the
Placing

Lord Sheppard of Didgemere (1) 500,000 3,900,000 2.6%
Frank Beechinor-Collins (2) 100,000 8,561,615 5.8%
Angus Dent 100,000 266,061 0.2%
John Bell 800,000 800,000 0.5%
Peter Sedman 0 8,642,660 5.8%
Mark Loveland 0 3,287,879 2.2%
Magnus Goodlad 0 0 0.0%

(1) Includes interests held by Lady Sheppard and holdings through Didgemere Consultants Limited.
(2) Includes beneficial interest in holdings held in trust.

EGM

A notice convening an EGM to be held at the offices of KBC Peel Hunt Ltd, 111 Old Broad Street, London EC2N 1PH at 10.00 a.m. on 15 April 2004 at which Shareholders will have the opportunity to consider what steps, if any, should be taken in consequence of the loss of capital referred to above and will, in particular, be asked to approve the following Resolutions:
i) to increase the authorised share capital of the Company;
ii) to authorise the Directors to allot the Placing Shares (48,000,000 new Ordinary Shares representing 82 per cent. of the Company's issued Ordinary Share capital at the date of this announcement) and the Consideration Shares (42,526,469 new Ordinary Shares representing 73 per cent. of the Company's issued Ordinary Share capital at the date of this announcement); and iii) to disapply pre-emption rights in relation to allotment and issue of the Placing Shares and the Consideration Shares.

Share capital

The authorised and issued share capital of the Company immediately after the issue of Placing Shares and the issue of the Consideration Shares is expected to be: Authorised Issued and fully paid Number Amount Number Amount

Ordinary Shares of 1 pence 200,000,000 £2,000,000.00 148,760,127 £1,487,601.27 each

Following the implementation of the Proposals in full, there will be no Unsecured Loan Stock outstanding and all outstanding warrants will have been cancelled.

Recommendation

The Board, with the exception of Magnus Goodlad and Mark Loveland, having consulted with KBC Peel Hunt Ltd, believe that the Capitalisation, the Warrant Cancellation and the Placing are fair and reasonable insofar as the Company's Shareholders are concerned.

Accordingly the Board (other than Mark Loveland and Magnus Goodlad) recommends that shareholders vote in favour of the Resolutions to be proposed at the EGM as they have undertaken and intend to do in respect of their own beneficial interests in 20,670,336 Ordinary Shares representing approximately 35.5 per cent. of the current issued share capital of the Company.

>>>>>>

OneClickHR PLC Change of Adviser 24 March 2004

Appointment of Nominated adviser & Broker The Board of OneClickHR is pleased to announce the appointment of KBC Peel Hunt Ltd as its nominated adviser and broker with immediate effect.

[simon1000000] 10/3/2004 21:34

What do people think the short term price is for this stock?

[spurious] 25/2/2004 14:03

Rockbottomone Hi I feel this has more to do with a pure trading reaction than fundamentals and remember a similar drop and recovery last year. I think manpower operates in a non competing market for its software re the cruise industry and it is interesting that herald hold both stocks recognising their individual niche market positions. Best wishes Sp