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SGL Summit Ger

0.215

0.00 (0.00%)

13 May 2024 - Closed

Delayed by 15 minutes

Summit Germany Investors - SGL

Share Name	Share Symbol	Market	Stock Type
Summit Ger	SGL	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	0.215	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			0.215	0.215

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Posted at 07/4/2009 21:15 by lochgarman splash 5...its dire. It stinks to hell. Just looking at the other shareholders in the list i dont know what they can do. i think i have learnt my lesson/paid my dues here...avoid aim companies at all costs. wouldnt you just love an activist investor to go in with a BIG stick! Read Full Thread Reply
Posted at 07/4/2009 20:48 by splash5 Have read the document and my understanding is that Summit can be de-listed when he has 75% of shares. Document also mentions that if they gain control of 90% of shares they can make it compulsory to purchase o/s shares in issue. Have i interpreted this correctly. Directors have said they are going to retain their shareholding at the same time as recommending this cash offer!! I don't see how they are representing the best interests of shareholoders.What are other investors going to do. Read Full Thread Reply
Posted at 14/4/2008 06:24 by cnx large stake building at prices substantially below nav is not good for small investors who may be forced into a takeout at below nav Read Full Thread Reply
Posted at 14/2/2007 01:08 by cnx as a long term hold also excluded from iht but increasing rental, then dividends ,are the key to commercial property investment for the small investor. Read Full Thread Reply
Posted at 02/3/2005 07:18 by short termism Sarantel Group PLC Admission to AIM - First Day of Dealings Sarantel, the leading manufacturer of revolutionary filtering antennas for wireless devices, today announces completion of its Admission to AIM and the commencement of trading in its Ordinary Shares. Highlights: The Placing The Company has raised approximately £16.7million (net of expenses) through a placing by Arbuthnot Securities of 21,951,220 ordinary shares at 82 pence per share The Placing Shares will represent approximately 42 percent of the Enlarged Share Capital of the Company following Admission On Admission, the Company will have a market capitalisation of approximately £43.0 million Arbuthnot Securities Limited, nominated adviser and broker to Sarantel has placed all of these shares with institutional and other investors The net proceeds of the Placing receivable by the Company will be utilised to position Sarantel as a major supplier of antenna technology to the wireless devices market worldwide Sarantel will be included in the IT Hardware sector (93) within the Telecommunications equipment sub-sector (938) and will have a RIC code of SLG.L Commenting on the Admission, David Wither, CEO said: 'We are very pleased to have had such an overwhelmingly positive response to our fund raising and are delighted to be joining AIM today. The money raised and the profile the listing gives us will help us with our ambition to position Sarantel as a major supplier of antenna technology to the wireless devices market worldwide.' For further information please contact: Sarantel Group PLC www.sarantel.com David Wither, CEO/Sitkow Yeung, CFO 01933 670560 Arbuthnot Securities 020 7012 2000 Tom Griffiths/Richard Dunn Smithfield 020 7360 4900 Sara Musgrave/Reg Hoare Print resolution images are available for the media to view and download from www.vismedia.co.uk Arbuthnot Securities Limited, which is authorised and regulated by the Financial Services Authority, is acting for the Company only and will not be responsible to any other person for providing the protection afforded to customers of Arbuthnot Securities Limited or for advising such person on the matters referred to in this announcement. Arbuthnot Securities Limited has not approved the contents of, or any part of, this announcement. Notes to Editors INTRODUCTION Sarantel Limited (a wholly owned subsidiary of Sarantel Group PLC) was incorporated on 30 March 2000 and designs, manufactures and sells patented, ceramic, filtering antennas for use in portable wireless devices. Sarantel holds 11 core registered patents for its miniature dielectric loaded antennas, which the Directors believe offer significant performance advantages for users and manufacturers of such devices based on its groundbreaking technology. The antennas simplify system design, thus allowing design standardisation and reduced time to market and cost for manufacturers. The Directors believe that data services based on GPS, Wi-Fi, 3G and Bluetooth platforms will be a key element in the future success of mobile network operators and device manufacturers. In this respect, Sarantel's filtering antennas are already playing a leading role in enabling the integration of GPS in mass-market mobile devices and PDAs. In addition, Sarantel's antennas can significantly increase the range and effective bandwidth of Wi-Fi devices. Sarantel's antennas are also expected by the Directors to become widely used in satellite radio. Sarantel is planning to commence high volume delivery of its antennas into the satellite radio market within the next 12 months. Sarantel has supplied to more than 50 wireless device manufacturers and/or suppliers, and is working with top tier OEMs and ODMs in the development and application of Sarantel's GPS antenna. Sales are accelerating rapidly and, as a result, Sarantel now plans to significantly expand its manufacturing capacity in order to meet demand. The Directors believe that the market for Sarantel's filtering antennas has the potential for rapid and significant growth. Admission to AIM will provide the funds for the Group to invest in new manufacturing capacity and to accelerate new product development. Furthermore, Admission is intended to help to enhance the Company's profile. The Directors intend to position Sarantel as a major supplier of antenna technology to the wireless devices market worldwide. HISTORY AND BACKGROUND Sarantel was founded in 2000 when Oliver Leisten, the Company's Chief Technology Officer, led the acquisition of the UK dielectric antenna division of Symmetricom, Inc., a US company whose shares are quoted on NASDAQ. Funding was initially provided by 3i Group PLC and Foresight, and since through Foresight's purchase of 3i Group PLC's investment in 2002, by investors led by Foresight and MTI Partners. These funds, amounting in aggregate to more than £14.0 million, have been invested primarily to develop the Group's technology, to equip and develop the existing manufacturing facility and to increase production volume to fulfill existing orders. Sarantel designs and manufactures filtering antennas for use in portable wireless devices. Its current focus is on producing antennas for the GPS market. The Directors believe that the signal on conventional antennas, and consequently their performance, is generally adversely affected by being held close to the human body. The Group has developed a patented filtering antenna formed around a core ceramic material that is less affected by the body's presence allowing a much clearer signal. In addition, the clearer signal can enhance the battery life of the device in which the antenna is incorporated and, in the case of a mobile phone, reduce the amount of energy absorbed by the head by approximately 90 per cent. Sarantel aims to become a high volume supplier of its differentiated and patented filtering antenna technology. Sarantel is targeting manufacturers of portable wireless electronic devices that serve high volume consumer markets. As with its current success in the GPS market, Sarantel intends to focus on emerging and fast-growing markets, including satellite radio, Wi-Fi and 3G, where the Directors believe there is the greatest demand for its technology. Sarantel intends to increase its existing manufacturing capacity in order to meet demand. The Directors believe that the success in the execution of these plans should result in Sarantel becoming a leading supplier of antennas to the next generation of mass market mobile devices. In June 2004, Sarantel was identified by the European Tech Tour Association as one of the top 25 high growth privately held technology companies in the UK. Sarantel has now established itself as a supplier for multiple GPS specific consumer products, accessories, PDAs and asset tracking devices. Protection of intellectual property is a critical element of Sarantel's competitive advantage and the Group has approximately 200 international filings in respect of 11 core patents. This has contributed to Sarantel being one of the first companies to exploit dielectrically loaded antenna technology. MARKETS GPS market GPS is a radio navigation system using satellites that orbit the earth and is widely recognised as the best technology to supply location data for mobile devices. It is already widely used by the military and automotive markets and is being adopted in mass market electronic devices such as mobile phones and PDAs. This market is currently the Group's primary focus. The market for GPS antennas is forecast to be entering a period of significant growth, with annual sales of GPS-enabled mobile handsets expected to grow from 21 million in 2003 to 150 million in 2009. Much of this growth will be driven by legislation, which the Directors believe will lead to GPS becoming standard in many mobile phones. The E911 legislation in the US requires mobile network operators to provide the location of anyone calling the 911 emergency number from a mobile phone. Network operators may use network or handset-based systems to meet this requirement. The handset-based solution currently requiring GPS has been adopted by network operators with an aggregate subscriber base in the US of 49 million. Consumer demand is also driving growth, with sales of GPS enabled navigation aids increasing. According to ABI research, 20 million GPS-enabled mobile phone handsets were shipped in 2003. Network operators are looking to invest in GPS for location-based services, and the current available market is estimated to be 285 million subscribers worldwide. Semiconductor companies have driven down the cost and power requirements of GPS by making it an integral part of their chipset solutions. Sales of GPS-enabled mobile phones and PDAs are consequently forecast to grow from 20 million to approximately 240 million units per annum by 2009. Historically, GPS-enabled mobile phones have used relatively low performance antennas that limit the effectiveness of the applications in terms of navigational accuracy and reliability. The Directors believe that Sarantel's product delivers a significant improvement in the performance of GPS receivers in comparison to conventional antennas and in many cases is easier to integrate with handsets. Trials conducted in association with a major handset OEM on the Nextel network have demonstrated that Sarantel's GPS antenna provides significant performance advantages over the conventional antenna solutions. Sarantel has also conducted tests on multiple GPS-enabled phones marketed in the US and believes that the majority do not reliably produce accurate location information due to poor antenna performance. The Directors believe the better antenna performance will be key to enabling the growth to GPS applications in hand-held devices. Tests with a leading mobile phone OEM have demonstrated a significant reduction on its time to first location fix using Sarantel's antenna. Satellite radio market Satellite radio, which is regulated in the US by the FCC, has the distinct advantage over traditional radio enabling a customer to listen to the same station across the US without retuning. In 1997, the FCC awarded licences to two companies, namely CD Radio (now known as Sirius Satellite Radio) and American Mobile Radio (now called XM Satellite Radio). Each company paid in excess of $80 million to use space in the S-band allocated by the FCC specifically for digital satellite transmission. Research suggests that XM Satellite Radio and Sirius Satellite Radio could have more than 42 million subscribers by the end of 2009. Sarantel has already been commissioned to provide prototype products for the satellite radio market and on the basis of customer response Sarantel is planning to commence high volume delivery of its antennas within 12 months. The Directors believe that the satellite radio market will achieve dramatic growth in the coming years. Wi-Fi market Wi-Fi is widely used in laptops, PDAs and desktop PCs and the Directors believe it is on the verge of widespread adoption in mobile phones. Wi-Fi is already being used in 50 million mobile devices and the market for Wi-Fi units is expected to increase to 375 million units per annum by 2007. The Directors believe that Wi-Fi networks can become a viable alternative to the traditional wired computer networks, if Wi-Fi characteristics of range and bandwidth can be improved. Sarantel's antennas have been shown to significantly enhance both Wi-Fi range and bandwidth, with immunity to interference when compared with incumbent technologies, meaning they can be fitted in small devices next to GSM/ CDMA radios and other 'noisy' components. The Directors believe that this will accelerate the deployment of voice over internet protocol on Wi-Fi enabled devices. Independent tests have demonstrated that Sarantel's Wi-Fi antenna significantly improved the range and signal strength of a Lucent Orinoco Wi-Fi PCMCIA card when compared to the existing antenna solution. 3G market Despite the slow implementation of 3G to date, the Directors anticipate that this market will expand dramatically over the next few years, with the majority of mobile devices expected to be 3G-enabled by 2009. In the UK much of this growth will be driven by the requirement for 3G licence holders to be able to reach no less than 80 per cent. of the UK population by the end of 2007. Low battery life is considered a major problem for users of 3G-enabled mobile devices. Sarantel's antennas have greater in-use power efficiency than conventional antennas and could, therefore, have the potential to offer longer battery life for 3G phones and/or mobile devices. Bluetooth market As uptake of Bluetooth technology continues to grow, opportunities are emerging to differentiate devices by improving reception. Sarantel's Wi-Fi antenna also supports Bluetooth applications as the frequency bands are the same. Market summary All these market opportunities have the potential to contribute significantly to the medium to long-term growth of Sarantel. Technology Sarantel's filtering antennas comprise one or more helical copper tracks on a high dielectric ceramic core with an insulating balun at the base and a feed cable connector. Conventional antennas, used in mobile devices, suffer low in-use efficiency and de-tuning in the presence of the human body. They are also highly susceptible to interference from nearby components. For the user, the consequences are reduced battery life, poor reception and excessive emission of heat radiation. The Directors understand that manufacturers endure a relatively long lead time to bring a product to market as well as complex sourcing because each new antenna requires extensive development work and design compromise. Each mobile device design is unique, so antennas differ across devices, increasing sourcing costs and risk. As devices get smaller, their problems intensify, whilst adding GPS, Wi-Fi or Bluetooth to a mobile device compounds these problems still further. In contrast, Sarantel's technology enhances performance for the user and, as its core antenna can be used in multiple device designs, it can transform the antenna into a standardised component. This shortens the device design cycle and thus time to market. The Directors believe Sarantel's technology offers five key advantages over conventional antennas: 1) Small near-field Conventional antennas have a near-field of energy that is typically around one metre in diameter. During the use of a mobile phone or PDA, the user's body comes into contact with the near-field and the antenna's energy drains into the user, significantly weakening reception. The tuning of the antenna is also changed. For GPS in a mobile phone or other mobile device, the performance degradation is usually so significant that location finding may become unreliable. Sarantel's patented antennas use a ceramic core to shrink the near-field to only a few millimetres in diameter. This results in less interference and dramatically improves performance. The Directors believe small near-field advantage is a critical element to achieving high performance in GPS and Wi-Fi voice applications. 2) Isolation from interference Conventional antennas collect noise generated by oscillators and other electronic components in the same device. For a designer creating a highly integrated wireless handheld device, this interference is a major problem because it reduces performance. Sarantel's antenna technology is electronically isolated from other components and therefore avoids collecting the noise generated by those components. This isolation rests on two features: the antenna is a balanced di-pole that does not rely on the PCB to function; and the integrated balun acts as a trap that rejects electronic interference from other devices present on the PCB. These features enable the Sarantel antenna to be co-located with other antennas and integrated in close proximity to DSPs, MP3 players, CMOS cameras and other sensitive or noisy components. 3) Omni-directional Conventional antennas tend to be sensitive to the design of the mobile device and its orientation and therefore in certain circumstances only 'see' satellites if the user holds the mobile device in a relatively narrow range of positions. Conventional antennas are susceptible to nulls or gaps in the signal pattern that result in poor performance. As Sarantel's antenna is independent of the device, it is less sensitive to its orientation, which is a major advantage in hand-held devices. 4) No ground plane required Conventional antennas require relatively large ground planes, thereby using space that is scarce in mobile devices. Sarantel's antenna does not require a ground plane, and therefore has a much smaller overall space requirement, reducing the size requirement of the device. This is an increasingly important attribute in mobile devices as integration levels increase. 5) Filtering response Conventional antennas have very broad frequency responses to accommodate the de-tuning caused by biological loading that occurs when the user holds the product. Sarantel's antennas do not de-tune in this way and are also designed for sharp filtering responses, thereby reducing interference and will obviate the need for certain discrete filter components. Conventional antennas The conventional antennas tend to be: patch, PIFA, quadrifilar helix or whip-type antennas, which are described in further detail below: (a) Patch antennas Patch antennas typically comprise of two flat metal plates separated by a layer of ceramic. The plates must be approximately 30 millimetres square in order to achieve acceptable GPS reception. The size of this type of GPS antenna rules them out of most mobile device designs. Patch equipped devices must either be held horizontally in use or have the antenna attached by a hinge, making the device less user friendly. (b) PIFA antennas PIFA antennas are widely used to carry voice signals in mobile phones. Although the antenna itself is relatively small, it works by using the entire volume of the device's PCB as an integral part of the receiver. In the user's hand, most of the antenna's energy is absorbed into the body. As a result, performance may be reduced to a point where PIFA antennas are not sensitive enough to provide effective GPS reception. Many current Wi-Fi enabled hand-held devices use PIFA antennas and as a result, in such devices, performance is reduced in terms of range and bandwidth. Laptop designers tend to locate the PIFA antennas at different positions around the screen for isolation, in order to achieve acceptable levels of performance. The antennas are then connected to the system using coaxial cables. This adds cost and complexity to the assembly process and can affect reliability when used. (c) Quadrifilar helix antennas Quadrifilar helix antennas comprise a metal double spiral similar in shape to Sarantel's plated copper tracks, but without the ceramic core. For effective GPS reception, such antennas need to be quite large. Conventional quadrifilar helix antennas are not used in mobile phones, PDAs or similar devices. (d) Whip-type antennas Whip-type antennas were widely used for voice communications on earlier mobile phones and in some designs are also used for GPS reception. When the device is in the user's hand, the large near-field of a whip antenna results in loss of efficiency. The Directors do not believe such devices provide acceptable GPS performance. Summary Financial Information Financial information on Sarantel for the three financial years ended 30 September 2004 is set out below. Turnover for the financial year ended 30 September 2004 rose by approximately 300 percent to £0.84 million from £0.21 million in the financial year ended 30 September 2003 (2002: £0.1 million). The increase in turnover over the three financial years ended 30 September 2004 reflects the Group's evolution over this period from a research and development-led company to a selling and manufacturing company. CURRENT TRADING AND PROSPECTS Since 30 September 2004, the date to which the last audited accounts for Sarantel were prepared, Sarantel has continued to trade in line with the Directors' expectations. Manufacturing output has been significantly increased to meet demand from customers. The Board views the future prospects of the Group with confidence. The Directors are encouraged by the trading prospects for the Group due to the significantly increased level of orders received in the financial year to date and its new sales opportunities. The Board is confident that following Admission, the Group will be better positioned to take advantage of the growing opportunities in its target markets. Furthermore, Admission of the Ordinary Shares to AIM should lead to increased awareness of the Group and its activities which the Directors believe will create further opportunities. DIRECTORS The Board comprises three executive Directors and two non-executive Directors all of whom were appointed to the Board on February 2005. David Dey, Non-executive Chairman, aged 67. David was appointed to the board of Sarantel in June 2003 and has over 30 years' experience in telecoms and technology companies, having worked at senior levels in companies such as British Telecom, Energis, IBM and Plessey. David Wither, Chief Executive Officer, aged 40. David was appointed to the board of Sarantel in January 2004 and has assumed primary responsibility for accelerating the Company's sales into high volume mobile device manufacturers. From 1998 to 2003 he was a director at RF Micro Devices Inc. with responsibility for European sales and the Bluetooth product line. Sitkow Yeung, Chief Financial Officer, aged 47. Sitkow, who is a chartered accountant, and has over 20 years' experience of working in high growth technology companies, joined Sarantel in May 2004, and was subsequently appointed to the board of Sarantel in January 2005. Sitkow was a divisional finance director of Ericsson Telecommunications Limited until 1997 when he became the Controller, Western Europe, for Ericsson's mobile systems business. Dr. Oliver Leisten, Chief Technology Officer, aged 44. Oliver founded the Group in September 2000 and has 25 years' experience in the radio communications industry. He is responsible for the development of 11 patents for miniature dielectric loaded antennas, which form the core of Sarantel's intellectual property assets. Previously, Oliver was chief technologist at Symmetricom Limited, responsible for leading a team of specialist radio systems and design engineers. He trained with Philips Research Laboratories and has held a number of engineering appointments with Plessey Avionics and Communications and GEC. David Ward, Non-executive Director, aged 37. David, who joined the board of Sarantel in February 2003, is a partner at MTI Partners, the private equity firm, which has provided significant funding for Sarantel, where he has worked since 1999. Previously he was a director of Calder Aluminium Limited, EMP Technologies Limited, iBase Image Systems Limited and Phocis Limited. - Ends - Read Full Thread Reply

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