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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Overnet Data | OND | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | - |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| Top Posts |
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Posted at 26/5/2004 20:47 by stewjames topnotch, I suspect I'm one of the "experts" you're referring to. If so, then I'd like to point out that I questioned you, not derided you.StewJames - 3 Feb'04 - 15:58 - 53 of 227 edit topnotch, I understand fully why a company would want to get an AIM listing. What I don't understand is why they would choose Overnet at 50p as the vehicle. In your own example, you would have had to relinquish equity not just to new investors in the placing but also indirectly to the existing shareholders of the company you were reversing into. In the case you cite that wouldn't have been too onerous since it would have "cost" you a few hundred grand of your company assuming terms were based on fair value at the current shareprice. In the case of any company reversing into OND, that cost would be 5M, or 10M if your quid target is to be believed. Why would you want to do that? There are other, far cheaper shells around, for example MKP trading at around net cash. Not to mention the more traditional route to obtaining a listing costs a fair bit less than a million itself. I stand by everything I said. The owners of Futuragene are surrendering a substantial portion of their company to get access to the cash. If the current valuation is at all realistic then they've been forced to accept well below that value in order to secure funding. capricorn, today's SAR shows there are 9.15M shares in issue. I don't understand where you're coming from with this: 1. The new proposed floated volume of shares will be 25.26m, hence 15m will be floated on June 15th following EGM approval (very conveniently exactly one third of the total approved share capital). Today's SAR shows there are currently 9.15M shares in issue. What's convenient about issuing exactly 1/3 of the authorised share capital? 2. OND are making an assumption of what the target share price will be on June 15th, in order to make this calculation (i.e. 17.5m / 0.6957). At current prices, the combined entity will be valued at £25m! I don't see anything in the wording of the announcement suggesting a price-dependent component. It reads as if all the conditions and prices have all been fixed. The market price makes no difference. 3. There is a provision to issue a maximum of 45m shares...this is available presumably for further share placements after the first 12months working capital runs out and/or in case the target share price upon floatation drifts lower than the current calculation. This relates to the purchase price of Futuragene. The maximum price will be 45M shares. These shares will not be used for fundraising activities (at least, not unless the conditions for their issue have passed). I'd guess there's another resolution about increasing the authorised share capital which would allow them to issue more shares for cash, although it may be high enough already that they have no need to do this. Changes in the authorised share capital don't generally mean much. Most companies have a safety net whereby they can place shares without having to consult shareholders first. Doesn't necessarily mean they will. So the next question is what is the expected float price for the shares £1, £1.5 (as someone suggested last week), 75p....who knows (besides the MMs managing them to their final destination June 15th)....but £1 so far seems to be the center of gravity for this stock. This is a placing and acquisition, not a float. The shareprice is completely irrelevant to the process. Today's RNS are interesting. Someone has taken a very large spreadbet position, presumably since the suspension was lifted. Could be a straightforward long but I'm more inclined to think it's related to the placing and acquisition somehow. Any ideas? |
Posted at 21/5/2004 08:24 by topnotch Just to remind you of one of the more 'informative' postings by a 'learned' traders/investors on this BBS dell314 - 12 Jan'04 - 09:33 ..... which rather suggests you lot aren't going to be getting your 50p a share that this was suspended at... AND NOW A POSTING BY TOPPY!!!!!!!! topnotch - 15 Jan'04 - 09:35 ...this would put the share price at around £1 which is what I have been lead to believe would be the true value for OND. LOLLOLLOLLOLLOLLOLLO Those who know lead - those who don't..... TopNotch |
Posted at 24/3/2004 13:28 by nickanme OverNet Data PLC24 March 2004 PRESS RELEASE 24 March 2004 OverNet Data plc ('OverNet' or 'the Company') OverNet Data announces that with effect from 18 March 2004 the agreement to provide a drawn down facility entered into with Principal Corporate Investor Limited on 24 September 2002 for a term of two years was terminated. The agreement was to provide the Company with an equity line of credit intended to provide financial flexibility. As OverNet is now a cash shell, as previously announced, the credit line is no longer needed. There are no financial implications to the termination of this agreement. - ends - This information is provided by RNS The company news service from the London Stock Exchange PUUBUWUPCGWC |
Posted at 26/2/2004 10:34 by scrapheap Anyone seen this? Dunno where this leaves you remaining ONDers....SBS Group PLC said its joint administrative receivers have been approached by Zerlina Assets Ltd (ZAL), a company represented by L Knifton, N Weller and S Oakes, who have proposed that the company be recapitalised as a shell company which should allow its shares to be re-listed on the AIM market. The receivers said ZAL will use its best endeavours to negotiate a suitable Reverse transaction. ZAL has also agreed with the Bank, the major creditor, to purchase a large percentage of the remaining debt in the company to in effect become the largest creditor. These proposals are conditional on creditors and shareholders approving a Company Voluntary Arrangement (CVA) in which creditors are to be offered shares in the company in satisfaction of their debts. If agreed this proposal should eliminate the company's debts and restore solvency. ZAL is also plannig a capital reconstruction as they believe in order to attract new investors and to successfully negotiate a reverse takeover the company needs to reduce the amount of its existing share capital to a size at which new investors will own a sizeable proportion of the company's issued equity. Following the implementation of the CVA,existing shareholders should hold approximately 17 pct of the company. |
Posted at 18/2/2004 09:08 by dell314 capricorn - I had a quick look at last NBT results, on your recommendation, and wasn't overexcited by them.Improving operating cashflow is encouraging, if they can maintain it, but there are some negatives: 1) Shareholder funds are negative without intangibles 2) Cash balances may be exagerated by timing of receipts, as interest received at £20k looks a little low for cash stated. This statement made me laugh: "A move to AIM should improve the liquidity of our stock and investor profile". A move to AIM is either to save money or, for the more devious, to take advantage of the more relaxed regulatory framework. Last director trade was a sell. Current price appears to have a reasonable profit for the next results already priced in IMO. However, a volatile stock like this may have a good reaction to positive results, anyhow. To convince me, they would need a couple of decent results to show that it is maintainable and not just some accounting fun and games. And I'd be happier if there wasn't co-ordinated ramping going on, but such is the world of penny stocks..... Rgds dell |
Posted at 03/2/2004 15:58 by stewjames topnotch, I understand fully why a company would want to get an AIM listing. What I don't understand is why they would choose Overnet at 50p as the vehicle. In your own example, you would have had to relinquish equity not just to new investors in the placing but also indirectly to the existing shareholders of the company you were reversing into. In the case you cite that wouldn't have been too onerous since it would have "cost" you a few hundred grand of your company assuming terms were based on fair value at the current shareprice. In the case of any company reversing into OND, that cost would be 5M, or 10M if your quid target is to be believed. Why would you want to do that? There are other, far cheaper shells around, for example MKP trading at around net cash. Not to mention the more traditional route to obtaining a listing costs a fair bit less than a million itself. |
Posted at 24/10/2003 20:36 by krakow Stew JamesFrom 14-10-03 "OverNet Data has been notified that Mr Leo Knifton and Mr Nigel Weller, directors of OverNet, have today entered into an agreement for the sale of Monument Capital LLC ('Monument'), a company jointly owned by them, to Mr Paolo Mascheroni for #110,000. Monument's only asset comprises 1,276,733 ordinary shares of 5p each in OverNet representing approximately 13.9 per cent. of the issued share capital of the Company. In addition the sale includes an option held by Monument to subscribe for up to 2.5 million new ordinary shares in OverNet Data at 5p each. Mr Mascheroni is a 51 year old retired Italian businessman". End quote. If Mr Mascheroni has any connection with the target company then they already have been buying up a stake in OND. This deal works out at 8.6p per share (taking no account of the option). Another director sold at 16p. Obviously many investors see a lot more upside than this. Time will tell. There's a lot in your post 379 that I don't understand, eg "whoever is involved in the RTO takes on existing shareholders". What does that mean? "So the reversed company has effectively paid 4.5M in return for the AIM listing". The target company will be acquired by the issue of new shares. The target company pays nothing for the listing. I don't understand the point you're trying to make. As far as guesses about values for the post-suspension business, I'm quite prepared to wait for the RTO document. Regarding "mystery buyers" - if anyone had purchased a notifiable holding then we would know about it. As I said before when responding to a question about why the shareprice had risen: it's risen as a result of speculation about what the post-suspension business will be worth. It's not risen because of the value of an AIM listing and it's not risen because of the value of OND's current business. It's pure speculation. Personally I'd written this investment off a long time ago and have since got back the paper losses three times over, so whatever the price comes back at will be an unexpected bonus for me. Regards K. |
Posted at 20/10/2003 22:08 by krakow mattheworchard, the shareprice has not rocketed due to the value of OND as a business. It is a speculative move and has rocketed due to the value of the future business which is rumoured to have significant cashflow. Cashflow has value. Nobody yet knows what this will be until the 'document' is published. Some investors are obviously expecting fireworks. I've been in this for a long,long time at levels between 12p and 70p and had written my investment off although I never sold. Now who knows what might happen? Too much to hope for another Knutsford, I suppose.K. |
Posted at 16/9/2003 23:56 by henryford read the annual report, they are actively trying to realise value, and they also say they are keeping operations going, so maybe they will resort to licensing out the BALI platform to others, or flog the whole operation to someone. Vodafone, 02, and Microsoft are clients, so the idea is not to be sniffed at, especially as smartphones/next generation phones are now being sold in volume.the people who bought in on friday wouldn't for no reason, i know it seems a weak argument in a way, but i haven't seen any tips have you? so why are there investors buying 145,000 and regular 100k lines? somethings going down. from a users perspective and investors I like this company for its client list and applications, especially the Buddy Locator developed for Microsoft and the M-workforce app that has killer app written all over it. |
Posted at 02/9/2003 00:06 by henryford Some chunky Buying of late, an MM trade this am too. Something def goin on. I just can't help wondering whether their Bali Technology that was developed for GPRS/3G is now looking like it could actually have a viable market for it. If so, what price did these shares once reach?And if not, it's still interesting as the recent new investors on board usually indicate something is going on. |
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