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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vero Software | VERO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 17.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 17.50 | 17.50 |
| Top Posts |
|---|
Posted at 17/5/2010 08:48 by varies Whilst one always hopes for more on these occasions, I am relieved that a respectable offer has arrived at last.Heaven knows when Vero would have got round to paying a dividend and it will be pleasant to receive some cash in these troubled times. |
Posted at 17/5/2010 07:13 by pugugly 17.5p offer. ADVFN link to notice not working17 May 2010 RECOMMENDED CASH OFFER FOR VERO SOFTWARE PLC BY BV ACQUISITIONS SARL TO BE IMPLEMENTED BY MEANS OF A SCHEME OF ARRANGEMENT UNDER PART 26 OF THE COMPANIES ACT 2006 SUMMARY AND HIGHLIGHTS: · The sole manager of BV Acquisitions S.à.r.l. ("BV Acquisitions") and the board of directors of Vero Software plc ("Vero") are pleased to announce that they have today reached agreement on the terms of a recommended cash offer by BV Acquisitions for the entire issued and to be issued ordinary share capital of Vero to be effected by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. · BV Acquisitions, established specifically for the purposes of making the Offer, is beneficially wholly owned by the Battery Funds. · Under the terms of the Offer, each Vero Shareholder on the register of members at the Scheme Record Time will be classified as a Scheme Shareholder, and accordingly, on the Scheme becoming Effective, will be entitled to receive 17.5 pence in cash for each Scheme Share held. · The Proposals value the entire issued and to be issued ordinary share capital of Vero at approximately £7.19 million (assuming the exercise in full of the Warrant and all outstanding options under the Vero Share Option Schemes) and the Offer Price represents: (a) a premium of approximately 20.69 per cent. to the Closing Price of 14.5 pence per Vero Share on 15 September 2009 (being the last Business Day prior to the commencement of the Offer Period); (b) a premium of approximately 42.86 per cent. to the volume weighted average price of 12.25 pence per Vero Share for the 3 months prior to 15 September 2009; and (c) a discount of approximately 2.78 per cent. to the Closing Price of 18 pence per Vero Share on 14 May 2010 (being the last Business Day prior to the making of this announcement); · The Vero Board, which has been so advised by Daniel Stewart & Company, considers the terms of the Proposals to be fair and reasonable. In providing its advice to the Vero Board, Daniel Stewart & Company has taken into account the commercial assessments of the Vero Board. · Accordingly, the Vero Board has unanimously agreed to recommend that Vero Shareholders vote in favour of the resolutions relating to the Proposals at the Court Meeting and the General Meeting, as each of the directors of Vero who currently hold Vero Shares have irrevocably undertaken to do in respect of their own beneficial shareholdings (or the shareholdings they control), amounting in aggregate to 5,453,380 Vero Shares (representing approximately 14.64per cent. of the existing issued share capital of Vero). · In addition, BV Acquisitions has received irrevocable undertakings to vote in favour of the Proposals from significant Vero Shareholders in respect of, in aggregate, 18,274,657 Vero Shares, representing approximately 49.04 per cent. of the existing issued share capital of Vero. · In aggregate, therefore, BV Acquisitions has received irrevocable undertakings to vote in favour of the Proposals in respect of 23,728,037 Vero Shares, representing approximately 63.68 per cent. of the existing issued share capital of Vero. Further details of these irrevocable undertakings are set out below and in Appendix III to this announcement. · It is intended that the Proposals will be implemented by means of a Court-sanctioned scheme of arrangement between Vero and its shareholders under Part 26 of the Companies Act 2006 (the "Scheme"). · Implementation of the Scheme will be subject, inter alia, to the sanction of the Court and the approval of Vero Shareholders. The Scheme Document, setting out full details of the Scheme and the procedures to be followed by Vero Shareholders to approve the Scheme, together with the Forms of Proxy, will be posted to Vero Shareholders and, for information only, to participants in the Vero Share Option Schemes and to the Warrantholder, as soon as practicable and in any event within 28 days from the date of this announcement, unless otherwise agreed with the Panel. · If the Scheme does not become Effective by 30 September 2010, the Proposals will lapse except where the approval of Vero Shareholders at the Court Meeting and the General Meeting is obtained before this date, in which case the longstop date for the Proposals may be extended to such later date as BV Acquisitions and Vero may agree and, if appropriate, the Court may approve. · The Court Meeting and the General Meeting are expected to be held on or around 23 June 2010 and, subject to the requisite Shareholder and Court approvals being obtained, it is expected that the Scheme will become Effective on or around 15 July 2010. All dates in this announcement which relate to implementation of the Scheme are subject to the approval of the Court and are therefore subject to change. |
Posted at 10/5/2010 19:45 by valhamos Decent results - I would not have been surprised with a lot worse after Delcam reported a halving of profits a few weeks ago. With operational gearing there will be rapid growth in earnings per share when the recovery gathers pace. Before the recession Vero were on course for 3p eps - might not happen this year but looks likely next year, which needs to be reflected in any offer. |
Posted at 29/4/2010 20:27 by daytraders you could be right, if results are great a potential buyer of vero would not want another company to see them published, might get offerer news with results rns even. |
Posted at 24/4/2010 18:32 by varies DaytradersI see that for 2007 and 2008 the annual results came out in early April. So those for 2009 cannot yet be regarded as late. In November (if I remember rightly) I wrote to the Directors to complain about the long period of uncertainty over the "preliminary approach" and suggested that the company should put out a statement from time to time confirming that VERO was still in an Offer Period. The answer was that such refreshers (my word, not theirs) were not required under AIM rules and that the Offer Period continued until an announcement was made to the contrary. As I expect you know, holders of 1% or more of the capital have to declare all transactions whilst the Offer Period is in force. |
Posted at 24/4/2010 11:59 by daytraders Im surprised we did not get a rns for the following great news just published on there website, maybe monday, im buying more shares first thing monday.Vero Software Plc wins Queen's Award 21-04-2010 Vero wins The Queen's Award for Enterprise 2010, the UK's most prestigious business award. |
Posted at 23/4/2010 22:12 by dealit VARIES - what is this RNS, is it a buy or sell? - may be why results are held up.KEY INFORMATION (a) Identity of the person whose positions/dealings are being disclosed: Artemis Investment Management Limited (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Vero Software plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: 19th April 2010 (f) Has the discloser previously disclosed, or are they today disclosing, under the Code in respect of any other party to this offer? No 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: Ordinary 0.5p Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 2,325,582 6.24 (2) Derivatives (other than options): (3) Options and agreements to purchase/sell: TOTAL: 2,325,582 6.24 |
Posted at 23/4/2010 11:25 by varies VERO are usually quite prompt with their annual results, if I remember rightly, and produce them at much the same time as Delcam which is, more or less, in the same business; I hold shares in both cos and have for many years.DLC's results for 2009 are quite good, considering the market, but well down on those for 2008. DLC's statement was encouraging and their shares have gone up. It is now 7 months, of course, since the "preliminary approach" was disclosed and it seems unlikely after so long that the approach will come to anything even though VERO is still in an Offer Period under AIM rules.Let us hope for the best ! The delay in producing the 2009 reults, insofar as there is one, may result from the extra paperwork connected with the new financing of which we have yet to be given full details. Since this financing came from the Dept of Industry, we can be sure that considerable paperwork was required. The financing provides considerable comfort for shareholders but I do not think we can hope for great joy from the 2009 figures when they come. I hope, however, that they will be accompanied by encouraging remarks about trading in 2010. |
Posted at 12/4/2010 17:09 by dealit Vero are still on the Takeover disclosures had a look yesterday. There as been no announcements other than Directors selling and buying shares and an announcement about a loan facility which maybe shut the door on a takeover. As I posted earlier the financials are strong and reading results from last September seem very promising - "Recurring revenue is stronger than ever, and our product range's ability to reduce customers' costs and production timescales stands us in good stead. The current economic climate undoubtedly represents a new challenge in its global reach but the Company is well placed to take advantage of any early rise in demand as the larger manufacturing based economies recover." |
Posted at 16/9/2009 11:48 by baner bid approach announced today - excellent news. the sector is valued at 100-150% as Enterprise Value/Sales. with sales of £13m and net debt at say £2m the VERO equity should thus be worth £11-17m or 29-43p. as the predator is said to be a financial investor, assume they will look for a bargain however hardly less than 20-25p. this announcement should also trigger interest from potential trade buyers - there are quite a few out there who should be willing to pay the "full value" as outlined above. with 93% gross margin, Vero should offer scope for significant synergies. exciting times for Vero shareholders - eventually! |
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