Zenith Energy Share Discussion Threads

[pjj71] 06/9/2012 09:43

dunc,

either way I think were onto a winner here, even if by default!!!!

Up up and away!!!!

[dcroston] 06/9/2012 09:13

"Zenergy's only significant assets are its cash balances and its continuing interest in its wholly owned subsidiary Zenergy Power Inc which the Directors are considering winding up."

Seems this hasnt been wound up yet so could be some not insignificant costs associated with doing this if that is what happens.

[duncandisorderly] 06/9/2012 09:03

Eight figure,that's anyithing from £10,000,000 to £99,000,000.I prefer the last one lol.

[duncandisorderly] 06/9/2012 09:00

Oh yes PJ,a very good find indeed.Bring it on!

[pjj71] 06/9/2012 08:57

A fast-growing software business is set for expansion into America after it secured £4 million of funding.

It comes after Synety, in Phoenix Square, Leicester, announced a takeover of a London energy firm in a deal worth more than £1 million.

Mark Seemann, Synety's chief executive, said the deal gave it access to Zenergy Power's £4 million funds, which had been put into the business to develop a new superconductor, but which failed to take off.

"This is a fund-raising exercise, nothing else," he said.

If approved by shareholders of stock market-listed Zenergy, the combined business will be known as Synety Group and be listed on the Alternative Investment Market.

Mr Seemann, who set up Synety in February, said the £4 million would be used to open an office in San Francisco. It would also fund further development of its specialist software, which allows businesses to record and log telephone conversations quickly, saving users time and money.

Mr Seemann, who lives in Sutton Cheney and was brought up in Market Bosworth, said he aims to turn Synety into a eight-figure business within three years. He sold his last two businesses for seven-figure sums.

He said Synety had just signed a deal with a US software company which has 100,000 customers worldwide. He was unable to provide any more details yesterday.

This gives his aim of growing its customer base from around 100 to several thousand by the end of 2014 a major boost. He also has plans to open offices on the US east coast and the Asia-Pacific area.

The firm is looking to double staff numbers in the city to 45 by the end of next year, with a worldwide workforce of up to 150. "The deal solves the issues of funding a rapidly expanding business, as well as being a start-up business, because by being a publicly-quoted company it gives companies more confidence as our accounts are publicly accessible," said Mr Seemann.

He said he was confident the majority of Zenergy shareholders will approve this deal, which has been structured as a so-called 'reverse takeover'.

Synety's chairman Graham Ward, a former managing director of Vodafone Corporate, will become a non-executive director in the combined group. Mr Seemann, Mr Ward and technical chief Jason Kendall are Synety shareholders.

[duncandisorderly] 06/9/2012 08:30

I thought I would have a quick look and judging by the latest rns,if it all goes ahead 65% of the company will be owned by directors/major share holders which only leaves 35% for joe public.It's going to be hard to get hold of these one day.

[duncandisorderly] 05/9/2012 21:43

Should that be OUCH holdings

[joeblogg2] 05/9/2012 16:54

I have sold half and may sell the rest as my own cash position is dire having been mauled by my OCH holding :((

[duncandisorderly] 05/9/2012 16:50

You beat me to it PJ.Mind you my bottom drawer is sooooooo full now I will have to put this one in the middle drawer,lol.

Cleaver,Cleaver,Cleaver,you useless pr*ck!

Speak to you all in one months time.

[pjj71] 05/9/2012 16:40

zenergy or should i say synety is now in my bottom drawer.. will vote in favour at the EGM and reasses in 6 months time...

[duncandisorderly] 05/9/2012 15:43

Why,because 760k shares have been sold.That's not even £24k.Forgive me for not worrying at the mo.
I do however think the rns was poorly drafted but hey-ho,that's life.

[safman] 05/9/2012 15:26

Management seem to be going the same way as before...

Looks like an overpaid poor acquisition..

saffy..

[p o n a] 05/9/2012 10:43

drc

you are wrong. There are NO more costs associated with closing down the legacy business - all of that is over.

All of the £3.65m cash is now available for the new business.

I got this confirmed from SC.

[camy] 05/9/2012 10:37

They have no shame that's for sure. Probably desparate as who would give them a job after such an awful track record.

[dcroston] 05/9/2012 10:29

Pona,

"The Company had cleared funds of £3.65 million as at 31 August 2012."

missed that pjj.

So pretty much close to £4m. Nothing like the figure mentioned last night.

----------------------------------------
I think you will find that there are still some cash costs that remain which are associated with cleaning up the Inc. Perhaps the company can provide some clarity on this for you.

Anyway, as I stated earlier, I am not invested here any longer but wish everyone well here and I hope you can get a good return on your money.

regards,
DC

[duncandisorderly] 05/9/2012 09:53

This is just one client..

Bullhorn® web-based software and services improve the way employees and employers come together. For over ten years our innovations have powered the recruiting and staffing operations of fast-growing start-ups up through the world's largest employment brands. Headquartered in Boston, Massachusetts with offices in London, United Kingdom and Sydney, Australia, Bullhorn's recruiting ATS/CRM and social recruiting products serve more than 100,000 recruiters across 126 countries

[bobby.ifa] 05/9/2012 09:18

So Synty have a cloud based contract with Independent Financial Advisers- an industry about to fall off the cliff from January 2013, with an expected 25% fallout of IFA's who are predicted to leave the industry with the forthcoming ban on commission & higher professional qualifications. That deal will be very tenuous as IFA's seek to cut costs from 2013.

[p o n a] 05/9/2012 09:16

" The initial consideration for the Acquisition is £75,000 cash, payable at Completion, and the issue, credited as fully paid, of 1,477,106 Initial Consideration Shares. By reference to the Closing Price as at 4 September 2012, being the last practicable date prior to publication of this document, the initial consideration is valued at approximately £1.07 million."


£1.07m - £75,000 = £995,000 /1,477,106 shares /20 = 3.35p / share

[the_beagle] 05/9/2012 09:10

Re consideration as per the RNS.

It states Cash paid £75,000 plus 1.477 million shares at Tuesday's closing price of 3.25p. The shares issued had a value of £470,000. Cash payable £75,000. Total payable immediately £545,000. Yet RNS says £1.07 million.

One of us is wrong!

[idontpost] 05/9/2012 09:05

Duncan I take it that was pointed at Stegrego, as I think it is a decent deal personally.

[duncandisorderly] 05/9/2012 09:01

Fine o.k.Bye then.

[stegrego] 05/9/2012 08:55

Consolidation is to stop it getting silly when the share price hits 0.5p. 10p sounds much better.

And you don't get it Duncan, as if you did, you wouldn't have been holding for the past year.

[p o n a] 05/9/2012 08:55

Since Synety's sales launch earlier this year, Synety has been approached by a number of CRM providers enquiring about integration. One such enquiry came from Bullhorn which is a global leader in recruitment CRM software. Synety has integrated its services into Bullhorn, and will be launching the service to Bullhorn's customers in September 2012. Synety has also integrated with Lunar CRM, a smaller company providing Cloud CRM software for independent financial advisors. The New Board expects to make further announcements on CRM partners in the near future.

[duncandisorderly] 05/9/2012 08:49

once the buying starts this will move up quickly.