Virtue Broadcst Share Discussion Threads

[rmart] 18/10/2004 15:12

theres your statement. not very exciting.

[safman] 18/10/2004 15:12

RNS Number:1870E
Virtue Broadcasting PLC
18 October 2004

Immediate Release: 18th October 2004



Virtue Broadcasting plc

RESULT OF EGM

The Board of Virtue Broadcasting plc is pleased to announce that all resolutions
proposed at today's extraordinary general meeting were duly passed.

-Ends-


For Further Information:

Jon King Virtue Broadcasting plc Tel: [phone]
CEO [e-mail]

James Ormondroyd Virtue Broadcasting plc Tel: [phone]
Finance Director [e-mail]

Andrew Tan Hansard Communications Tel: [phone]
[e-mail]












This information is provided by RNS
The company news service from the London Stock Exchange
END

[shirishg] 18/10/2004 14:46

Post removed by ADVFN

[megsta] 18/10/2004 14:42

haven't you lot been watching the web cast of Virtue's EGM?

[shirishg] 18/10/2004 14:38

Post removed by ADVFN

[exotic] 18/10/2004 14:33

Maybe there were/still are problems passing the resolutions? Or fights breaking out? A mini riot?

[vision88] 18/10/2004 14:15

yes this company is none of your business, just send your check and mind your own business ty

[clocktower] 18/10/2004 14:09

Not even a RNS so far.. Seems like they lack even the courtesy to tell small shareholders with immediate effect after the meeting that all resolutions were passed. Are they now running it like a private company.

[3parsnips] 18/10/2004 14:07

Virtue Communications

Uk Companies acquiring U.S Companies underperformed by 27 %

Uk Companies acquiring E.U companies slight negative returns in the short term but paid-off over longer periods of time.

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

[badabing] 18/10/2004 14:00

3P,

Another merger or takeover....no thanks....having read this from today's Times Business, I could not agree more with their view:

October 18, 2004

Acquisitions are sure losers for shareholders, study finds
By Gabriel Rozenberg, Economics Reporter

ACQUISITIONS are a financial disaster for shareholders, new research suggests.
A study of the performance of large takeovers completed between 1977 and 1994 has found that in the five years after a deal, the total return on investment underperformed by an average of 26 per cent, compared with shares in companies of similar size.



The research, by Alan Gregory and John Matako, of the University of Exeter's new Centre for Finance and Investment, showed that the effect of acquisitions on share price and dividends varied according to whether the bids were hostile or non-hostile and whether they were equity-financed or cash-backed.

The underperformance on share-based deals is 36 per cent over five years, relative to unacquisitive companies.

Agreed bids also generated negative returns, with shareholders doing 27 per cent less well. Agreed share-based deals led to underperformance of 37 per cent.

Cash financing or bidder hostility were not enough on their own to make a profit likely, the report found. However, bids that are cash-backed and hostile have a better chance of creating, rather than destroying, shareholder value.

On a low sample, the academics found that successful hostile cash bids generated an average 50 per cent increase in the profitability of shares in the five years after the bid. Share-based bids perform poorly because shares in the acquiring companies are overvalued in the first place, Dr Gregory suggested.

He added that the process of gaining co-operation from the target board might also increase the costs, as executives might have to be persuaded to agree only if the acquirer offers over-generous terms. Unnecessary cost may be incurred if executives in an acquired company retain their jobs after completion of deals, he said.

Dr Gregory said: "Personally, if I were a shareholder in a company announcing an equity- financed bid, I would regard that as a sell signal. I certainly wouldn't be hanging around for the next five years."

However, shareholders tend to hold on despite the evidence that loyalty may be impoverishing, Dr Gregory said. "It's a triumph of hope over experience," he said. "It's like divorce statistics: people always hope it's going to be different in their case."

Dr Gregory said that the study, yet to be published, had a larger sample set than any similar study of UK mergers and acquisitions. He said that colleagues were working on further research to understand the reasons why companies launched bids that were statistically unlikely to be profitable.

Last week Dr Gregory, who sits on the Competition Commission panel, revealed that UK firms have made disastrous acquisitions in the US.

In similar research, he found that five-year returns from UK companies acquiring US companies between 1985 and 1994 underperformed by 27 per cent compared with companies that stayed at home. British acquisitions of EU companies yielded only slightly negative returns in the short term and paid off over longer periods of time

[clocktower] 18/10/2004 11:40

With all the TV adds, to sell these handsets for Christmas, the market is about to expolode. I understand VOD are already promoting these guides type of guides on TV in UK.

Is this to be the BIG NEWS soon to break, a huge deal?

[bungeetrader] 18/10/2004 10:57

"swallowed whole". What, as in a Jenna Jameson video??

[clocktower] 18/10/2004 10:50

On the other hand it could be swallowed whole before then exotic.:-)

[exotic] 18/10/2004 10:45

Davidcod may as well wait for the symbol before making the new thread, though it'll probly be WTV.

[clocktower] 18/10/2004 10:38

I doubt it exotic. WTV I expect.

[exotic] 18/10/2004 10:32

Will they be keeping the VTB ticker symbol?

[clocktower] 18/10/2004 10:27

I expect so exotic but you can live in hope that it could soon be followed up with more exciting news from WTV plc.

[exotic] 18/10/2004 10:17

CT, no reason (other than what we already know).

I suspect all the RNS will say is the usual "all resolutions were passed".

Though, as you say, hopefully some posters will give us the details.

[clocktower] 18/10/2004 10:11

Maybe a few posters are at the Offices of Brewin Dolphin in London asking a few tough questions of the directors actions right now, and we may soon hear something from them.

[clocktower] 18/10/2004 10:07

exotic...you seem rather miffed...any reason?

[exotic] 18/10/2004 10:05

And why should retail investors buy VTB shares if the directors won't, even at these cheap prices?

After all, the directors have a far better idea of prospects going forward.

[clocktower] 18/10/2004 10:00

A little time will tell isis...Why are you in such a hurry? Rome was not built in a day.