Virtue Broadcst Share Discussion Threads

[3parsnips] 04/10/2004 18:05

Virtue Communications

Hi Humbagash,

Re : £3 Million raised in the placing of 95,422,850 shares at 3.25p each

* The £3 Million has all been spent....

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

From the INTERIM RESULTS (20.09.04)

On 5 May 2004 the Company issued 95,422,850 new ordinary shares through a
placing at a price of 3.25 pence per shares, raising a total of £2.9 million
after issue expenses.

The table below sets out the application of the net proceeds :

£ thousands

Application of proceeds :

Consideration paid for Kamera............................................186
Consideration paid for Foroso....(inc deferred consideration)............725
Consideration paid for Webcom and Announce Tv asset purchases............178
Consideration paid for merger with World Tv............................1,000
Merger expenses incurred...............................................1,090

TOTAL..................................................................3,179

Net proceeds :

Net Proceeds from May placing..........................................2,911
Cash in hand.............................................................268

TOTAL..................................................................3,179

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3Parsnips

[daniel333] 04/10/2004 17:36

Humbagash, before the World TV deal we had £2million that deal cost £2.1million so there is nothing left, but there is some finacial jiggery pokkery comming up following the upcomming EGM that should take care of any short fall.

-----------------------------------------------
From recent RNS re World TV merger;

The cash cost of the merger was #2.1 million of which #1.1 million were merger
expenses. This was funded by the placing of shares in the Company raising #3.1
million before expenses in May 2004. The merger's rationale and attractiveness
were affirmed by shareholders in August 2004 by 99.7% of the votes cast being in
favour of the merger.

[humbagash] 04/10/2004 16:43

Can someone please clarify if we still have the 3 million earmarked for acquisitions.

Regards

[3parsnips] 04/10/2004 15:34

Virtue Communications

Hi megSta

Re : TNK BP Webcasts

As you say..looks like WTV have taken over from VTB/Vavos for the webcasting of TNK/BP....it would seem that VTB/WTV are making swift progress in their 100 day integration plans.

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

Integration update (from the Interim Results)

The integration of the World TV and Virtue businesses has commenced and is
expected to be complete by the end of December 2004. Integration teams have been
established and were consulted before the transaction had completed to assess
requirements for the specific business units and functions to minimise employee
uncertainty and disruption to operations.

We are working to a 100 day integration action plan, in which during the first
30 days we have: merged the UK sales and service delivery teams; appointed the
senior management team; ensured service continuity and commenced consolidation
of web platforms; identified non-contributory overheads; and made the first
combined presentations of the enhanced sales offer to our top customers.

It is primarily due to the high quality of the people within the Group that
these transactions have been promptly and efficiently transacted and integrated
into the Group allowing us to extract enhanced value from our corporate
activity.
---------------
3Parsnips

[3parsnips] 04/10/2004 15:24

Virtue Communications

Hi shaunie,

If you had timed things right..you could have sold around the 6.5p mark

However many of us are also still holding shares from the old tornado days hoping for better things to come.

Be Lucky

------------
3Parsnips

[shaunie] 04/10/2004 15:18

not wrong , was working in an office in bromley with close ties to tornado - not quite close enuf however.....

[megsta] 04/10/2004 15:14

I am all in favour of cost cutting - it may reduce next years losses!!!!

The latest TNK-BP webcast is hosted on WTV domain, see:



VTB have hosted the TNK-BP web casts on the vavos server in the past:

[jonnybgoode] 04/10/2004 15:11

I ain't laughing!

[dapali] 04/10/2004 15:03

VTB - what a disaster - LOL

[3parsnips] 04/10/2004 15:02

Virtue Communcations

Re : VTB London offices

Virtue Corporate Services Ltd
60-62 Commercial Street
London E1 6LT
United Kingdom

Maybe if somebody works nearby they could have a look to see if those offices are up for sale/let ?

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

euro99

maybe one that you could investigate with your contacts with management as per previous post with the WTV address for contact...are VTB/WTV intending to close down..sell-off..the VTB London offices?

-----------
3Parsnips

[isis] 04/10/2004 14:43

Tornado - what a disaster - LOL

[3parsnips] 04/10/2004 14:41

Virtue Communications

Re : That Virtue Conferencing news item posted earlier today

I notice that they are using the World-Television address for the London contact

Does this mean that a decision has been made and VTB will be getting rid of "their" London Offices..as one of their cost savings measures ?



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

For further information please contact:
Franz Buchenberger
Parchetwiesen 33
D-82362 Weilheim
Germany
Tel: [phone]
Email: [e-mail]

For any other enquiries please contact:
Sarah Condon
World Television
8 Fitzroy Square
London W1T 5HN
Tel: [phone]
Email: [e-mail]

--------------
3Parsnips

[3parsnips] 04/10/2004 14:29

Virtue Communications

Hi shaunie

Re : Tornado Share certificates

You would have been issued with VTB certificates as replacement for your Tornado certificates...

You would have exactly the same number of shares but as VTB and not tornado

The shares did go up to 7p at one point before falling back down to where we are at the moment...Bid 2.00p offer 2.50p

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3Parsnips

[shaunie] 04/10/2004 14:25

hi , long term holder of tornado which became virtue (vtb) i believe, looking at my portfolio in barclays it appears that these have been delisted or not quoted / suspended as have have no value beside them, are these babies still trading??

[3parsnips] 04/10/2004 14:01

Virtue Communications

Hi clocktower

Until we get past the next EGM on 18th October..I dont think we are going to get much more info...possibly news of another customer contract..if we are lucky

In the Meantime...I reckon that there are buyers out there..just waiting to buy up any shares that are sold...

-------------
3Parsnips

[clocktower] 04/10/2004 13:42

3p...On the other hand you have to consider the fact that they may have pulled the wool over the eyes of those investors also to enrich themselves as seems to have been the case.

This RNS if anything makes matters worse in my view as it tends to show that they have nothing more positive to offer by way of incentive to buy VTB/WTV stock.

[thumbtwiddle] 04/10/2004 13:36

3p

I think VTB shareholders large and small might just have to accept that to take the company forward, the mgmt has decided on a certain course of action to which the stock mkt has not reacted favourably, for reasons discussed on this bb.

One has to hope the VTB mgmt has not committed commercial suicide in this WTV deal - you certainly get the impression they are more than keen to see it work for reasons they state.

As you say, sit back and relax. I no longer hold, having sold when i saw these fall back from 5p.

Its a meessed up share, imho, but hey, wdik?

sorry - just to add that viewing the company through the prism of the share price just doesn't hold water. Hence my continued optimism for vtb, but i will buy when results show the turnaround we all expected to see this time.

[3parsnips] 04/10/2004 13:30

Virtue Communications

Hi stupid idiot

Thanks for letting us all know that was your (58,351) shares sold

Best of luck with your future share buying...Hopefully you will get lucky and make up your loses on VTB...with another share.

------------
3Parsnips

[3parsnips] 04/10/2004 13:23

Virtue Communications

Re : Who is HAPPY with the current share price (Mid 2.25p)

It was confirmed in the "Interim Results" (20.09.04) that 99.7% of VTB shareholders voted for the VTB/WTV Merger :

"The merger's rationale and attractiveness were affirmed by shareholders in August 2004 by 99.7% of the votes cast being in favour of the merger."

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

Some of the existing "LARGER" VTB shareholders gave irrevocable votes in favour of the merger deal ahead of the Vote at the EGM 18.08.04 :

Name......................Number of shares held...............Percentage

INTEROUTE....................15,294,909........................4.91
AIM 2 VCT PLC................10,769,231........................3.46
MR S CAMPBELL................9,976,855.........................3.20
MR R GRAY....................6,566,906.........................2.11
MR D GRAPENGIESSER...........4,998,131.........................1.60
ISIS VCT PLC.................4,615,385.........................1.48
Total.......................52,221,447........................16.80

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

The Kamera shareholders accepted shares worth at the time................5.85p
The people that took part in the placing bought shares worth at the time.3.25p

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

So WHY did those LARGER shareholders vote (IN FAVOUR) of the VTB/WTV merger deal...

Presumably "they" were given information that : "we" did not get

Bearing in mind that these LARGER shareholders who voted for in favour of the deal..have at the moment LOST a huge amount of value in the shares that they hold..surely it can only be the case..that the current situation as to the share price is.....TEMPORARY.

Presumably these LARGER shareholders have been given information...where-by (they know)..that in a certain period of time their shares will again increase in value and they will be HAPPY...either by the share price rising on the back of future profitable results...or by a possible BUY-OUT of their shares from a Larger company...

Either way I have a feeling that they have been given the Info..."that don't worry..you will all be OK..you will be HAPPY" to have the number of shares that you are currently holding.

It would appear that it is only us smaller shareholders..that have been left in the dark..for myself I intend to just sit back and relax and hopefully take my rewards for "holding" my shares..along with the LARGER shareholders who will no-doubt be collecting...their Rewards...when the time is right.

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

Kamera deal .......43,770,247 NEW VTB shares were issued (at 5.85p)
Share Placing......95,422,850 NEW VTB shares were issued (at 3.25p)
World Tv deal.....440,800,265 NEW VTB shares were issued (at approx 3.88p)
----------------------------------------

3Parsnips

[clocktower] 04/10/2004 12:56

SI....Best of luck. Another tainted smell comes from the offshore finance sector in Jersey.

[stupid idiot] 04/10/2004 12:43

3p The 58351 sell was mine .I changed my mind and this was the last of my V T B shares.Normally I leave a board when I have no shares left but i will remain and moniter this as it may still come good .This is my largest ever loss in all the time i have been trading.I no longer trust the old management and as yet not sure abut joe King.As Euro said We do not know how much capital Joe and the Jersy boys invested so .75p may be a good return for them .The 3.8p VTB paid for world is irrellevent it just determined how many share Joe got.Not impressed with his small buy either can not understand it.He may well not intend to sell and may intend to pull this round but only cast iron facts will do me now.I think there is more chance this will go down than up in the short term.If it does go up I do not now expect it to be a fast rise so I think i will be able to by back in when the fog clears.The best of luck to all you remaining holders i sincerly hope it works out for you all.like i said i will stick around and continue to read this board.INGRID can you recommend a share that I can Research that may make me some money.

[ingridbalsam] 04/10/2004 11:46

jonnybg - couldn't agree with you more.