We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vebnet (Hldgs) | LSE:VBT | London | Ordinary Share | GB0032392986 | ORD �1 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 253.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7482J Vebnet Holdings PLC 02 October 2006 Vebnet Acquires 4th Contact Vebnet (Holdings) plc ("Vebnet") announces that it has acquired the entire issued share capital of 4th Contact Limited ("4th Contact") from Star Technology Services Limited, part of Messagelabs Group, for a maximum consideration of #661k. 4th Contact is a provider of online Total Reward Statement and flexible benefits technology to 67 clients with over 20,000 enrolled employees. For the year ended 31 July 2006 4th Contact generated unaudited revenues of #1,010k and incurred an operating loss of #326k. An estimated 87% of this total revenue is annualised recurring. No pre-transaction liabilities of 4th Contact are being transferred to Vebnet as a result of this acquisition. The business is based in London, was established in 2000 and currently employs 11 staff. Of the #524k initial consideration, #319k has been satisfied in cash and #205k by the issue of 145,997 Vebnet shares at a price of 140.65p per share, being the average closing price over the previous 10 business days. There is a deferred cash consideration up to a maximum of #137k payable in three tranches between 31 January and 30 September 2007. The actual deferred consideration payable is subject to agreed targets on revenue retention. Application has been made for the consideration shares to trade on the AIM market of the London Stock Exchange. Dealings in the consideration shares are expected to commence on 5 October 2006. Gerry O'Neill, Chief Executive, commented "The acquisition of 4th Contact is another significant development for Vebnet. This provides us with additional scale in both client and enrolled employee numbers. 4th Contact has won some high profile clients including Walt Disney, Daimler Chrysler, Warner Brothers, Volkswagen and The London Stock Exchange." "This acquisition is expected to be earnings neutral in our current financial year ending 30 June 2007 and earnings enhancing in future financial years. It also increases our market share, reinforces our position as the leading provider of flexible benefits technology, and marks the start of what we believe will be a period of further consolidation in a still growing market." Enquiries Vebnet Gerry O'Neill (CEO) 0131 270 5502; 07990 584096; gerry@vebnet.com Stephen Thurlow (Finance Director) 0131 270 5503; 07899 912522; stephent@vebnet.com Seymour Pierce (NOMAD and broker) Jonathan Wright 0207 107 8000; jonathanwright@seymourpierce.com Bankside Consultants (PR) Charles Ponsonby, 0207 367 8851; charles.ponsonby@bankside.com Note to Editors Vebnet's core business is to develop, distribute and implement valuable and cost effective internet-based solutions and services to support the communication, delivery and administration of fixed and flexible employee benefit schemes. This information is provided by RNS The company news service from the London Stock Exchange END ACQEAKNNASDKEFE
1 Year Vebnet Chart |
1 Month Vebnet Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions