Sagentia Grp Share Discussion Threads

[jonwig] 25/2/2008 07:31

Now, why would Sphere Medical put out an RNS to the LSE under their own name?
And why would they appoint a non-exec director with experience of delivering IPOs?

[jonwig] 13/2/2008 17:41

Certainly one of the questions I intend asking at the AGM - it was late April last year.

The phrase "developed by Sagentia and Vodafone" would suggest (to me) a JV with equity ... but who knows?

[elgordo] 13/2/2008 16:44

Yes indeed it would Jon. Even if there's no new money in it for them, SGA is clearly keen to promote their link with M-Pesa (and now, M-Paisa); their news page () now has both the Afgan launch and 1.6m customer stories up (the latter is such good news they've listed it twice!).

[jonwig] 11/2/2008 07:24

Update on M-PESA from Vodafone ... roll out in more African countries, India, Afghanistan:



Would be good to learn if there's any volume revenue in this for SGA!

[jonwig] 08/2/2008 13:37

El G - I echo your thoughts.

The TTX prospectus is very thin on commercial info. The analyst note which you can download (see thread) is fuller, but maybe biased?

Since I know very little about horseracing and betting, I decided early that I wouldn't buy TTX. What's more to the point, I think, is that there wasn't much support either, from those in a position to judge.

[elgordo] 08/2/2008 13:27

I was wondering if/when SGA's share price would be adjusted to reflect the loss in value of the holding in TTX since its float. The numbers are:

TTX shares held: 3,177,486
Price fall: 17.5p (float price 40p, current mid-price 22.5p)
Loss in value: £556,000
SGA shares in issue: 216m
Loss in value per share: 0.26p

So, of course, SGA doesn't move for a few days, then drops 0.5p. Sigh.

Apart from the loss in value (which, of course, might be regained in due course if TTX recovers), the immediate and precipitous decline in TTX's price after floating will not endear SGA to others as and when it wants to sell or float off other assets. Hopefully they will be able to make a case that it was all down to market conditions at the time, but this story needs a recovery in TTX's price at some point to give it credibility.

In the meantime, I'll try and get excited about today's news that Sagentia has been awarded certification to ISO 13485:2003 (see for all the gripping details).

[jonwig] 31/1/2008 11:42

TTX has four divisions: Tracking, Course Services, Betting Services and Ground Management Systems. I suspect GMS includes 'non-sporting activities'.

In the year to 31/03/2007, GMS contributed turnover of £474k out of a total of £1,162k.

It would be nice if all that £474k were 'non-sporting', but I suspect that's not the case.

[jonwig] 30/1/2008 08:35

A bit more - new:

Sagentia is also pleased to announce that it has come to an agreement with the Company for the transfer of the remaining intellectual property rights surrounding the TurfTrax tracking system (originally developed by Sagentia) relating to its commercial exploitation outside the field of sport. Accordingly, Sagentia will receive an upfront cash consideration of £100,000, additional shares in TurfTrax valued at £100,000 at the placing price, as well as an ongoing 50% revenue share on all commercial activities outside the field of sport relating to the TurfTrax tracking system.



So that's £100k cash, £250k in shares (at 40p value) and 50% of ... what? (The TTX Prospectus should tell us what the chances are.)

NB. Twelve month lock-in.

[jonwig] 30/1/2008 07:04

Here it is at last, epic code is TTX:

[jonwig] 24/1/2008 08:14

A bit here about SGA, et al:

[elgordo] 21/1/2008 13:17

Nothing ever straightforward here, is it? However, assuming it is all just an administrative issue and the float gets away on 30th, at least it's a bit of publicity for them.

I also hadn't realised that Michael Spencer was the main backer - that's about as top drawer an investor as you can get.

[jonwig] 21/1/2008 12:02

Telegraph - IPO postponement:

TurfTrax delays coming into play

By Ben Bland
Last Updated: 8:31am GMT 21/01/2008

A horse-race betting technology firm backed by City financier Michael Spencer has delayed its float on Aim after a Dubai government fund taking an 11pc stake decided to alter how its investment was structured.
# The latest news and analysis of the media and advertising industry

TurfTrax was originally set to list on January 11 but was forced to delay the float amid speculation as to whether the investment by Istithmar - a fund owned by the Dubai government - could be viewed negatively in a country where gambling is illegal.

Istithmar is an arm of the government-owned Dubai World group. The Dubai government has courted controversy in the recent past by putting money into businesses directly linked to gambling. Last year, it came in for fierce criticism after taking a $5.2bn (£2.7bn) stake in Las Vegas casino operator MGM Mirage. (At the time, Dubai World said it was attracted by the high-end hotel business rather than gambling.) In an early draft of the TurfTrax admission document seen by The Daily Telegraph, Istithmar World Real Estate was listed as taking an 11.37pc stake in the company once it floated.

But, in the latest stock exchange filing from TurfTrax released on Friday, Istithmar is not cited among the "significant shareholders". The same release also indicated that the company's "expected admission date" had been put back to January 30.

A spokesman for TurfTrax said that Istithmar was going ahead with its investment but had merely decided to change the subsidiary through which the investment was held.

He explained: "The delay has been caused through the administrative process resulting in the change of the investing subsidiary of our investor in the Middle East. We've got a responsibility to let the market know, although the delay doesn't affect anything to do with the float." No one from Istithmar was available to comment.

TurfTrax is betting its future on the growing popularity of in-race gambling with younger punters. The company has developed the first fully-electronic in-race betting platform, which it hopes to sell onto major bookmakers such as Ladbrokes and William Hill.

TurfTrax, which is chaired by former National Express chief executive Adam Mills, started life doing soil analysis for the agricultural industry before moving into horse-racing, where it used the same technology to measure the quality of the ground at racing tracks.

The firm then branched out into data provision, after gaining exclusive permission to attach electronic chips to horses at 37 of the UK's 59 racecourses.

While traditional gambling has been losing popularity as many older punters die out, in-play betting has been gaining a growing following on websites such as Betfair.

TurfTrax hopes to capitalise on this trend thanks its fully-automated system, which will make it easy for bookies to offer changing odds as a race develops.

"This is a tremendous opportunity for a young business," said managing director Mark Kent, a former executive at racecourse operator Arena Leisure. "In-play betting is becoming increasingly popular in football although it's never been achievable in horse-racing without real-time data to get the price."

Punters bet £10bn on the races in 2006 and TurfTrax hopes to tap into this pool of cash with its new platform. "The initial response from a significant part of the UK bookmaking industry has been positive and the group anticipates launching a fully commercial product, capable of integration into a bookmaker's risk management system during the first quarter of 2008," the company said in its draft admission document.

But it warned: "The group's strategy anticipates that the availability of in-running betting products for horse racing through fixed odds bookmakers will result in the growth of a substantial market for such betting. If this does not occur there would be a material adverse effect on the group's financial performance."

TurfTrax will float at 40p with a market capitalisation of £17.5m, after raising £3.2m to fund its expansion into in-race betting. Prior to the float, 47pc of TurfTrax was owned by IPGL, an investment vehicle controlled by Mr Spencer. His stake will shrink to 38pc once the shares are admitted to trading on Aim.

[jonwig] 14/1/2008 17:37

I've mixed feelings here - SGA into property management?

Milestone for innovation park project
14 January 2008 | 14:51

PLANS to create a globally-important research and development park on the outskirts of Ipswich have reached a major milestone with the appointment of a site operator for the next three years.

Innovation Martlesham, to be sited at the prestigious Adastral Park at Martlesham Heath, will be established and operated by Sagentia, a firm which helps companies grow, and chartered surveyors and property consultants Carter Jonas.

The park will contribute towards the largest concentration of ICT-related research and development companies in the UK.

It is being developed by a partnership made up of EEDA, BT, Sagentia/Carter Jonas, Suffolk County Council and Suffolk Coastal District Council and will offer flexible incubation space for hi-tech ICT related knowledge-based enterprises.

It will also play an important role in BT's plans for the redevelopment of Adastral Park.

Innovation Martlesham will initially be based in existing buildings at BT's Adastral Park, and purpose-built new developments will be phased in.

The scheme will have an open campus feel, with a strong higher education research presence to encourage and stimulate knowledge transfer and innovation.

Over the coming months, Sagentia and Carter Jonas will refurbish and equip accommodation to meet the needs of businesses, find tenants and set up the park's business support networks.

Deputy chair of EEDA George Kieffer said it was "incredibly exciting" that the park was about to become a reality.

"It will be a global centre of excellence, as it rapidly develops a national and international profile for the research and development of specialised hi-tech communications technology," he said.

"The benefits to those who choose to develop and grow their company within the park will be enormous. Not least, it will be located in the heart of Adastral Park, the UK's largest research and development site for telecoms. Its planned collaborations with UK universities will further enhance knowledge transfer between the young and growing enterprises, which take up tenancies, and the world's leading ICT academics and multinational companies, like BT."

Phil Dance, managing director of technology exploitation and senior manager of Adastral Park said Innovation Martlesham was an important component of their vision for the future and said they were "delighted" to see progress being made.

John Greaves, had of public sector practice at Sagentia, said they were "delighted" to be involved with the project.

"We look forward to playing our part in creating a flagship innovation park and location for ICT-focused businesses, research and academic collaborations at Martlesham," he said.

Once the park is operating successfully, the aim is to create dedicated office, laboratory and workshop spaces, display areas and business and technical support at the site in collaboration with a commercial developer.

[jonwig] 14/1/2008 15:44

For some reason, TurfTrax now 21 Jan:

[jonwig] 11/1/2008 10:30

SUPPLIER of advanced bi-polar battery technology Atraverda
has joined the Welsh Assembly Government's Knowledge Bank for
Business initiative.

More -

[jonwig] 04/1/2008 19:15

According to Digital Look, the MCap of TurfTrax at float will be £17.59m
and the issue price 40p.

That suggests 44m shares in issue, of which SGA will hold 3.2m (7.3%) valued at
£1.3m, or 0.6p per SGA share.

Each 1p rise in TT's share price will add 0.015p to SGA's NAV.

(Will edit these figures when the final details are announced.)

[jonwig] 04/1/2008 18:46

Technology consulting and venturing outfit, Sagentia has announced that
horseracing technology company, TurfTrax - in which it owns an 8.8 per
cent stake - is seeking a £3m IPO on the AIM market.

The placing is aimed at providing TurfTrax with "sufficient funds for
the expansion of its ongoing international commercial interests,
increased capital expenditure and further working capital."

Admission is anticipated to occur later this month, following which
Sagentia will own approximately 7.3 per cent of the enlarged share
capital. TurfTrax supplies data and data products related to the
real-time, 'in-race' speed and position tracking of race horses.

The company's tracking data enables the provision of fixed odds
'in-running' betting with dynamically changing prices. The product
is based on technology originally developed at Harston-based
Sagentia. TurfTrax says it believes that its new betting product
represents the "most significant product revolution within horse
race betting in the past 20 years."
Total betting turnover in Great Britain in 2006 was in excess of
£10bn and generated the horse race betting industry around £680m
of net win (gross profit less levy and gross profit tax).

[jonwig] 04/1/2008 16:08

Thanks, Roy, but it doesn't access the article for me.

NED is busy again:

On the 3rd January 2008, Martin Forster, a non executive director and the
Company Secretary of Sagentia Group AG, informed the Company that on the 28th
December 2007 he purchased an additional 100,000 shares of CHF 0.10 each
in Sagentia Group AG at 4 pence per share. His total holding of CHF 0.10 shares
now stands at 1,599,400 shares.

[25october1969] 04/1/2008 15:51

Turftrax is raising £3.2m at 40p a share ahead of its debut on the Alternative Investment Market next Friday. The company has several different technologies for ground management and race course services, but the most significant long-term opportunity is likely to be for its patented technology which tracks the performance of each horse in a race

A chip fitted to the saddle allows real-time tracking of a horse's performance, and opens up significant opportunities for in-race betting. It has already been tried by race courses, book makers and the media, and Turftrax has exclusive data rights for 37 courses in the UK with discussions ongoing elsewhere in Europe and Asia.

IC VIEW
BuyTurftrax's technology has the potential to create a whole new level of betting for horse racing and much of the commercial development is already done. This could be a good bet for 2008. Buy

[25october1969] 04/1/2008 15:46

I don't pay for a subscription but I was able to access the article via the long looking link!

[jonwig] 04/1/2008 11:40

Investors Chronicle has TurfTrax as "Float of the Week", with a 'buy' recommendation.
I can't access the article via the website, as I'm not a subscriber.
A nice premium would be welcome, of course.

Martin Frost is a NED:

[jonwig] 03/1/2008 19:54

According to the LSE, TurfTrax is raising £3.2m, dealings start 11 Jan.

Broker/NOMAD is City Financial Associates Limited.

Not one for me, but I hope it flies from the off!

[jonwig] 28/12/2007 09:57

Not many people following this stock, ade (look at the meagre volumes forcing the rise) so trading it a bit can make sense when you know your ground!

I'll be breakeven on my whole holding around 4.8p, and expect to hold to at least NAV before letting some go, all being well.

This is the third up day (so far) and a bit of a pullback is pretty likely, I think. On that, I might even be adding!

[adejuk] 28/12/2007 09:49

kept my core holding but couldn't resist the profit of 80% on recent buys
sold a load at 3.91
made not a jot of impact on share price so something is going on other than what we see
i'm fairly confident i'll be able to get them back for less in a few weeks but if i have to pay more that;s ok - it's underwritten now