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VAN Vanco

2.25
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vanco LSE:VAN London Ordinary Share GB0030998677 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.25 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Vanco Share Discussion Threads

Showing 1876 to 1897 of 2125 messages
Chat Pages: 85  84  83  82  81  80  79  78  77  76  75  74  Older
DateSubjectAuthorDiscuss
05/4/2009
17:04
wrong thread
bharatpatel1
05/4/2009
17:03
HI All, I'm Bharat a Senior Engineer at Reliance Globalcom.

Holding Strong and only down 40%.

If you would like to contact me to discuss forthcoming opportunities please email me directly: b.patel@reliance.com

John any jobs @ Tata?

bharatpatel1
05/4/2009
17:02
HI All, I'm Bharat a Senior Engineer at Reliance Globalcom.

Holding Strong and only down 40%.

If you would like to contact me to discuss forthcoming opportunities please email me directly: b.patel@reliance.com

John any jobs @ Tata?

bharatpatel1
05/4/2009
17:02
HI All, I'm Bharat a Senior Engineer at Reliance Globalcom.

Holding Strong and only down 40%.

If you would like to contact me to discuss forthcoming opportunities please email me directly: b.patel@reliance.com

John any jobs @ Tata?

bharatpatel1
05/4/2009
17:00
HI All, I'm Bharat a Senior Engineer at Reliance Globalcom.

Holding Strong and only down 40%.

If you would like to contact me to discuss forthcoming opportunities please email me directly: b.patel@reliance.com

John any jobs @ Tata?

bharatpatel1
08/6/2008
15:08
02 April 2008


VANCO PLC

('Vanco' or the 'Company')

Appointment of Broker

Vanco is pleased to announce the appointment today of KBC Peel Hunt as the
Company's broker with immediate effect.
.........................................................................

Vanco PLC
27 May 2008






Vanco plc ("Vanco" or "the Company")

Sale of Vanco Group Limited following appointment of Vanco administrator

Following the announcement of the suspension of the Company's shares on 6 May 2008, the Board of Vanco has explored all financial and strategic options available to the business in the light of its adverse financial position. In this regard, the Board has been working closely with its secured creditors and its advisers with a view to maximising value to the Company's stakeholders.
]



....
lol

hsbcpremier
28/5/2008
09:16
CCNP
interesting but where can the PI take advantage of that

windjammer
28/5/2008
08:41
It will be fascinating to see if this works. It is a revolution in business with the Indians buying access to the CFO/CEO/cio levels in several large/medium sized companies. They will bend over backwards to help them and more importantly, keep them as clients. And the cheap sell on opportunity is fantastic to take over and manage the infrastructure

Vanco customers should see charges slashed. Back office costs in Twickenham are a tad higher than Delhi. Investment in software and systems for monitoring and management has been written off so they can demand a share of the reduced costs.

ccnp
27/5/2008
13:18
total rip off then
taffee
27/5/2008
13:15
Looks like we have been well and truely fleeced...


Excerpts from CNBC-TV18's exclusive interview with Puneet Garg:

Q: If you can take us through the financials of this deal first? The company has paid only about USD 76 million or USD 77 million for this purchase. Is there anything else you take on by way of debt? Will there be other liabilities for Reliance Globalcom?

A: Vanco is a clean company, we do not have debt. Debts were on the banks and is all cleaned up. They have written it off for one sterling pound off their 123. And the lessers who had 40 million sterling pound pending on this company has also been written off as one pound. So, essentially we have taken a debt free company at USD 77 million. We now have an opportunity of enjoying the upside from this company. This company has been in business for some time and has a revenue of USD 385 million on an annualised basis.

Q: Is the company profit making, because I was going through the website and I can see the Profit Before Tax (PBT) but not the figure after tax. Is the company a loss making company that you are acquiring?

A: When you look at this company, it has been consistently generating cash and since it doesn't have assets, all of its cash goes into the bottomline as well and it makes profit. So, it is an asset light company, as it says it is in managed services and virtual network operator. So we expect that we would be able to turnaround, we will be able to put Reliance synergy. As you know in Reliance Communications we have a big enterprise business in India, we have acquired Yipes last year, where we have United States a big set up of our assets and customers, where we have more than 1,000 enterprise customers over there. Now in Europe we have more than 220 marquee customers and we believe that in our strategy, it fits very well and our stakeholders and customers has only upside and upside from the company.

Q: If you can tell us what is the loss that the company made in the last available quarter or year? What kind of turnaround time you are looking at, will it be as early as the current financial year itself and what are the synergies that Reliance Globalcom will get in terms of probably expanding its client base?

A: When we look at Vanco, I think our biggest opportunity we have is of cross sell and up sell of all of our products to their 220 customers. And similar opportunity for our customer base in India, as well as in United States. When we talk about turnaround, I think we have significant experience by now by turning around Flag and then Yipes and integrating it into Reliance Communications. I believe that it would not take more than 3-4 months for us to integrate Vanco in Reliance Communications platform, which we created as a global services platform and I believe that this company would start contributing to balance sheet of Reliance Communications in a significant way in the current fiscal year itself.

Q: The company has been on a bit of a losing ground as far as its share price and marketcap is concerned two years back. What exactly are your plans to turnaround the company and in what ways would you go about it?

A: This business today has a margin of over 30% as we look at revenues and cost of goods sold. I think when we look at the upside the real challenge is that how do we bring the cost efficiencies in this business and we look at our current base of Reliance Globalcom with 40 countries network, we see that we should be able to contribute at least 10-12% of upside in this company on an immediate basis, which should make it much more profitable than it was in the past

junk
27/5/2008
11:18
Would the banks have prevented a rights issue (if they did) and the ability to reduce their own expoure unless the business was too far gone? Wouldn't it have been irresponsible to allow PI's to stick further money into the company if it was doomed anyway? The sale price means the banks lost the £23M made available last month, so clearly they didn't know what a mess the company was in at that stage or they'd have rejected the request for a larger facility. The business was obviously hemmorrhaging cash and was bound to fail without major major investment - as in much more than a rights issue would raise IMHO.

So, who would have led the banks to think things were ok when they weren't and how did they do it? Question 1 points towards the directors (and certainly Alan Timpany) and question 2 suggests negligent auditors. Like most PI's, I'm sick and tired at the lack of reliable audited accounts - like some of the other contributors here, I got stuffed by false info and grossly inaccurate RNS's from Torex. The difference here was that Vanco had a full listing and one would have hoped for more transaparency and better quality info - yet it seems if the new FD hadn't been appointed the accounting policies wouldn't have been corrected (note the ex FD came from the previous auditors and perhaps there's a lesson there for us all) and the old management could have continued to hide the real financials for a bit longer. To my mind, he was right to highlight the errors, but some may have preferred ignorance given the severity of the outcome, although I think the failure is about cash outflow rather than the accounting treatment.

Given the number of potential bidders the press say were involved, we must accept that the bid was the best achievable, so now we all know what the company was worth. Sickening, but time to move on.

wooly62
27/5/2008
07:58
the fraud squad needs bringing in on this one, this stinks all those blue chip clients bought for next to nothing.
nice if you can get away with it, but lets hope somebody goes down for it

windjammer
27/5/2008
06:30
He certainly wasn't working in the shareholders interest as far as i can see.Where did the £60 million go? and why didn't they have the rights issue they planned?
redhill
27/5/2008
06:06
the whole thing smacks of fraud to me.....anyone could do coppel's job..sell the company for next to nothing.

If it was saleable then it had value...banks lose,shareholders lose

How can they have spent £60 mill in 5 weeks??????
all covered up as usual

taffee
26/5/2008
17:53
A very sad ending!!

Which could have been avoided if the banks had not been so impatient. Rumour has it that on the 1st May the company was on the way towards a rights issue. They already had a draft prospectus ready and support from the main shareholders, but the UKLA wanted more info before allowing them to go ahead. The bank wouldn't wait and decided that a rights issue was not in their best interest, so they sacked Timpany and everyhing went into freefall. From then on, there was nothing to be done and the Stupid bank will not get less that 30p in the pound, whilst the shareholders get nothing.

Any lessons learnt?

jaydeee
26/5/2008
17:38
DAG's Reliance Globalcom acquires UK-based Vanco

New Delhi (PTI): Anil Ambani group's global telecom arm Reliance Globalcom on Monday announced acquisition of UK-based managed network service provider Vanco for a consideration of Rs 327 crore (76.9 million dollar).

The deal comes amid the Indian conglomerate starting exploratory talks for another overseas telecom acquisition, that of South African mobile major MTN, currently valued at over 35 billion dollars.

Reliance Globalcom said that the acquisition of Vanco would add 365 million dollars (Rs 1,550 crore) to its annual revenue and would expand its managed network footprint to 163 countries.

Vanco figures among the world's top five managed global network players with over 220 multi-national customers, including British Airways, Siemens and Virgin Megastores.

"Under the acquisition agreement, Reliance Globalcom would pay 76.9 million dollar to acquire 100 per cent equity of Vanco Group Ltd free of debt."

Reliance Globalcom is a subsidiary of ADAG's telecom arm Reliance Communications.

"The acquisition of Vanco is in line with Reliance Globalcom's vision to create one of the top five global datacommunications enterprises in the world," Reliance Communications Chairman Anil Ambani said in a statement.

jaydeee
26/5/2008
15:55
ANOTHER COMPANY BUILT ON DECEIT
hsbcpremier
26/5/2008
15:39
Very much the end;_

"Mr Coppel said that the company had been sold for a "substantial amount" but "less than the face value due to the secure creditors".

So if the Times is to be believed the Banks will be taking a big bath too. Lloyds in for trouble??? Has the curse of the Black Widow striking again??:


I could go on about the management (or lack of it) but would be a waste of time - It has all been said already !!!

pugugly
26/5/2008
15:39
19 Nov, 2007 Vanco PLC (VAN) Director/PDMR Shareholding
03 Oct, 2007 Vanco PLC (VAN) Director/PDMR Shareholding
02 Oct, 2007 Vanco PLC (VAN) Director/PDMR Shareholding
Vanco PLC (VAN) Director/PDMR Shareholding



laff

hsbcpremier
26/5/2008
08:17
02Bursar - 13 May'08 - 08:16 - 940 of 993 edit

It'll be interesting as there are also ABC's that were already tied up with Vanco: Flag [part of Reliance - ] Swisscom, Deutsche Telecom

------------------------------------------------------------------


It looks like Reliance then, though Deutsche Telecom were also interested:






------------------------------------------------------------------

That's the end of that.

02bursar
25/5/2008
14:06
Bad luck holders. I count myself lucky in that I had a dabble with VAN when they were about £1.60 but sold out at a small profit. The ex CEO clearly went for growth at any costs. A great pity and a poor end to a good business
london calling
25/5/2008
09:17
whoever agreed the extra money at the bank is probably in for a hard time

but as coppel says..'there is no fraud'??????????????????????????

taffee
Chat Pages: 85  84  83  82  81  80  79  78  77  76  75  74  Older

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