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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Plasmon | PLM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.33 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.33 | 0.33 |
| Top Posts |
|---|
Posted at 29/9/2008 09:21 by cyberpost comiserations..Statement re Suspension (Plasmon) RNS Number : 5260E Plasmon PLC 29 September 2008 Plasmon Plc Update On 5 September 2008, Plasmon announced that it had continued its marketing exercise with a view to securing additional debt or equity capital and that it had not received commitments from potential investors that the Directors considered immediately necessary to fund the business and its ongoing working capital requirements. The Company also confirmed that it had received an approach from a US-based technology private equity firm at an investment value of some $25 million and at a net price payable to shareholders of not more than 0.25 pence in cash per share, and confirmed that it was in preliminary discussions which may or may not lead to an offer for the entire issued and to be issued share capital of the Company. The investment value included a significant injection of new funds to enable a major restructuring to be completed. Given the absence of other financing options, and given the Company's financial position, the Board concluded that such a sale was the best viable option for the Company. The Company now confirms that these discussions have terminated. In the circumstances, Plasmon has requested, and the FSA has confirmed, an immediate suspension of the listing of the ordinary shares of the Company on the Official List of the FSA. |
Posted at 07/9/2008 22:31 by ravenna23 Unfortunately I dont think that is how this one will work. Hanover & Invesco/Perpetual will have been asked for more money in July, and obviously refused. Faced with a choice of liquidation or 0.25p they have a duty to their investors to accept the cash. |
Posted at 07/9/2008 10:06 by greedfear Invesco Perpetual (29% shareholder) and Hanover Investors (25% shareholder) invested some 5.5 million GBP in Plasmon just last march/april 2008. If a cash offer of 0.25p per share was to be accepted they would only receive some 140,000 GBP of that march/april 2008 investment. I don't think that's acceptable to them. I don't think that they're willing to hand out a parachute to the management of this crashing plane. The same management that -by the looks of it- f..... them royally march 2008.It ain't over till the fat lady sings. |
Posted at 12/8/2008 11:15 by andrbea once and if (big if) they get a 2-quarter bridging loan, maybe we can say the bad news has been priced in?Aug 8: Plasmon's situation has worsened since it reported reduced losses for its fy08 year. Then Plasmon expected to achieve a positive cash flow in the second half of the 2009 financial year (ending March 31). Now it sees that the point at which it will achieve a positive cash flow has been pushed back by one to two quarters. It looks then as if Plasmon needs a two quarter revenue bridge. Having come so far, the investors may feel it prudent to come up with the cash, as Steve Murphy has revitalized and restructured the company and its products significantly. He now has to struggle against adverse economic conditions but will be saying that the company's product and sales strategy is right. Give him time ... and give him cash to tide the company over. The next two quarters will be critical, desperate even, and this may be the last time that the investors will be willing, if they are willing, to put in more money. The share price plunged by 56 percent in London, going from 1.63p/share to 1.25p. |
Posted at 28/6/2008 00:34 by u813061 Announcing deals with negligable revenue implications deeply misleads some investors. Cost base is still too high. |
Posted at 28/2/2008 16:18 by brando69 all begs the question - what were the super investors who bought a strategic stake in the company thinking? |
Posted at 18/2/2008 07:51 by cyberpost Interim Management StatementRNS Number:1735O Plasmon PLC 18 February 2008 Plasmon Plc Interim Management Statement Plasmon Plc, a leader in professional archival solutions, has today issued its second interim management statement for the year ending 31 March 2008. As previously announced on 7 February 2008, the Company is proposing to issue 100,000,000 new ordinary shares by way of a Placing at 10p each to raise £10 million before expenses. The Placing is subject to shareholder approval. A circular setting out further details of the Placing and including a notice convening a general meeting of the Company, is expected to be dispatched to shareholders in early March 2008. Despite softness in US IT markets which, as previously reported, has had some impact on legacy and hardware product sales, the overall archive storage market is forecast to grow rapidly from $9bn in 2007 to $23bn by 2010. Our Archive Appliance sales growth remains in excess of 50% in constant currency terms after the first nine months of the current year, compared to the comparable period last year. This is the focus of the Company's growth plans. Plasmon has best-in-class solutions for customers in this fast growing archive market, particularly those seeking to move essential, but rarely-accessed, data archives from expensive hard disk (RAID) servers to a lower cost, more permanent storage infrastructure tier. In order to fully capture this market opportunity, Steven Murphy, the new CEO, is extending and accelerating the Company's growth strategy. With the support of investors in the recent Placing, Murphy is now building a customer-facing marketing, sales and service channel in order to win major account business and support our Resellers. The Board believes this will enable the Group to deliver significant future sales growth, and complete its transformation from a "technology-led" to a "sales-led" business. Recruitment of new senior sales executives (predominantly US-based) has been underway since late 2007, and most have now been identified and are ready to join the business. 9 of 14 of these senior executives have signed offer letters and have had successful careers with industry storage leaders. Primarily as a result of this investment in a faster growth strategy, the Company has deferred its cash break-even target to second half of financial year 2009. The growth strategy builds on two successes achieved in 2007. Firstly, the signing of 18 new reseller channel partners and secondly, a major programme of operational restructuring, which has already reduced the overhead cost base by 20 per cent when comparing the nine months ended 31 December 2007 with the comparable prior year period. The Company expects to reduce headcount by 25 per cent when the outsourcing of hardware manufacturing is concluded in June 2008. Contribution margin on sales is now approaching management's target of 60 per cent. |
Posted at 07/2/2008 16:06 by aquilla Looks like that break even position is going to have to wait a bit longer:"Primarily as a result of this investment in a faster growth strategy, the Company is now deferring its cash break-even target to 2H09." But at least there seems to be some solid support for the company: "29,420,211 new ordinaryshares have been conditionally placed with Invesco Perpetual" "26,838,200new ordinary shares have been conditionally placed with Hanover Investors " "In addition, the other directors of the Company intend to subscribe for 1,500,000 of the new ordinary shares to be issued under the Placing. The other placees are primarily investment management firms and existing shareholders in Plasmon." |
Posted at 25/11/2007 21:37 by timtom2 It's a different Hanover - not the Hanover investor imn PLM, Cosalt, SMG etc by the looks of it. No need for concern. |
Posted at 01/7/2007 08:40 by aquilla Good to see Hanover increasing its stake, to nearly 25%, following the recent director buys, both by the ceo and chairman. This is from their own website: "Hanover's principal mission is to generate superior returns for our investors by selecting and managing investments in undervalued businesses. This is a long-term process, in which our interests are strongly aligned with those of the other investors and stakeholders in a company. Acting with integrity, applying the best principles of financial and corporate governance and being a responsible member of a stakeholder community are key priorities for our business and key underpinnings of the franchise we are building as investors." |
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