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RNS Number : 4455E

Character Group PLC

18 October 2018

 

 

Thursday, 18 October 2018

The Character Group plc

designers, developers and international distributors of branded toys, games and giftware

("Character Group", "Group" or the "Company")

Character acquires 55% equity holding in Nordic based toy company

 

Substantial Transaction under Rule 12 of the AIM Rules

 

 

Character Group (AIM: CCT) is pleased to announce that it has yesterday agreed terms to acquire a 55% equity shareholding in OVG-PROXY A/S ("PROXY"), a Danish incorporated toy distributor based in Copenhagen.  PROXY sources and secures exclusive rights to toy products and then markets and sells them to retailers in the Nordic region. 

 

The purchase price comprises an initial cash consideration of DKK2.5 million (approximately £300,000*), with further "earn-out" consideration of up to DKK25 million (approximately £3 million*) payable, depending on performance, in each of the years ending 31 December 2018, 2019 and 2020.  The acquisition is expected to be earnings enhancing in the first full year in the enlarged Group.

It is believed that the acquisition of this substantial interest in PROXY will enable the Character Group to extend its European reach, potentially enable frictionless access to EU markets post-Brexit, provide a more compelling marketing/distribution proposition for toy companies and brand owners seeking UK and EU market access and provide a vehicle for growth of the Group's non-UK sales of its own-developed product ranges/resources.

PROXY, with 27 employees, currently sources product through a strong international network of suppliers and partners, including Character Group.  All product lines are sold exclusively in the Nordic region (principally Denmark, Sweden, Norway and Finland) by PROXY, with all sales to the top 5 customers (accounting for approximately 69% of turnover) managed in-house through its own sales force, with smaller accounts managed through distribution partners in the markets. PROXY's website is available at https://www.proxyas.com.

 

The business is headed by CEO Morten Geschwendtner and CFO Mikkel Kjærsgaard, both of whom have over 25 years of experience in the toy industry and, also, have worked in collaboration with the Character team over several years.  The current team at PROXY will continue to run the day to day business.  To provide additional resource and skills to the senior team, Jon Diver, Kiran Shah and Mike Hyde (all Executive Directors of the Company) will join the operating board of PROXY.

 

Commenting on the transaction, Jon Diver, Joint-Managing Director of Character Group, said:

 

"We are delighted to secure a formal working partnership with the team at PROXY.  Having known and worked with them for a number of years we have recognised that there are many opportunities to enhance our current market positions.

"There are many synergies that we can achieve together, including PROXY being able to take advantage of our Far East infrastructure in terms of sourcing and quality assurance and, on a domestic basis, our in-house marketing and distribution capability.  Both teams are of similar mind set and together will be in a better position to grow our businesses."

Morten Geschwendtner, Chief Executive Officer of PROXY, added:

 

"As a leading toy products distributor in the Nordic territories, PROXY is very excited to have Character on board as a major investor in our business.

 

"We have known the Character team for a number of years and have mutual respect for each other's businesses.  This partnership allows us to work more closely with a well-respected international toy business and opens new opportunities; we will also benefit from being able to access the wider knowledge and skills of Character as well as its sourcing, purchasing and marketing capabilities.  We look forward to working with the team at Character, exchanging ideas and initiatives and growing our business further in the coming years."

 

The transaction

Character has formed a new subsidiary, Character Nordic Limited ("Character Nordic") which has entered into and completed an agreement (the "Agreement") to acquire a 55% equity interest in OVG-PROXY A/S ("PROXY") from Kidz A/S and Wamami Holding APS for an initial cash consideration of DKK2.5 million, approximately £300,000* (the "Transaction").  The initial consideration has been be met from Character Group's existing cash resources.

 

Following completion of the Transaction, PROXY is now owned 35% by Kidz A/S (a Danish company owned by PROXY's CEO, Morten Geschwendtner), 10% by Wamami Holding ApS (a Danish company owned by PROXY's CFO, Mikkel Kjærsgaard) and 55% by Character Nordic.  It is not the intention of Character Group to acquire the remaining shareholding held by the management through their associated companies.

 

Additional "earn-out" consideration will be payable to the selling shareholders of PROXY in relation to each of the years ending 31 December 2018, 2019 and 2020 on the basis of 1.2375 times the adjusted earnings before tax and interest ("EBIT") less (as applicable) prior earn-out payments and any prior year losses.  Subject to the Additional Facility (as defined below) being secured on or before 31 March 2019, the earn-out consideration for the year ending 31 December 2018 ("First Year") will be subject to a cap of DKK15 million (approximately £1.8* million).  In addition, the overall consideration is subject to a cap of DKK27.5 million (approximately £3.3* million).  The first part of any First Year earn-out entitlement will be satisfied by the allotment or transfer of ordinary shares of 5p each in the capital of the Company ("Ordinary Shares") to the sellers.  The effective value of an Ordinary Share for such purpose is fixed by the Agreement at 487.5p (being the mid-market price of an issued share in the capital of the Character Group at the close of business on 16 October 2018).  The number of Ordinary Shares to be issued under this arrangement is subject to a cap of 150,000 Ordinary Shares.  The balance of any earn-out consideration will be satisfied in cash.

 

Character Nordic will provide a short-term loan facility to PROXY of DKK2 million and, on or before 30 November 2018, Character Nordic intends to procure a further loan facility (the "Additional Facility") for PROXY of DKK12 million (approximately £1.44* million).  These loans are being provided to refinance certain existing facilities utilised by PROXY.  The Group will also support some of the working capital requirements of the PROXY group of companies going forward by providing or procuring trade finance facilities of up to US$2 million.  In addition, the Company has given a guarantee in respect of borrowings from PROXY's principal bankers of up to DKK8 million (approximately £960,000*).

 

The following financial information has been extracted from the PROXY's s audited, consolidated financial statements and its subsidiaries for the year ended 31 December 2017:

 

Revenues	DKK150.5 million (approximately £17.9 million*)
Adjusted EBIT	DKK -9.5 million (approximately -£1.13m*)
Loss before tax	DKK13.7m (approximately £1.63*)
Net assets	DKK -3.8 million (approximately £-0.45m*)

 

Notes:

The losses sustained in the year ended 31 December 2017 were principally attributable to PROXY's now discontinued kitchen and household products division and significant adverse movements on foreign exchange rates.  The remaining inventory of kitchen and household products will be sold or fully written-off in the year ending 31 December 2018.

 

*exchange rate applied DKK (Danish Krone) 1: GBP 0.12

 

This announcement contains inside information, disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

 

ENQUIRIES:

The Character Group plc Jon Diver, Joint Managing Director Kiran Shah, Joint Managing Director & GFD

Office:     +44 (0) 208 329 3377 Mobile:   +44 (0) 7831 802219 (JD) Mobile:   +44 (0) 7956 278522 (KS) Email: [email protected]

Panmure Gordon (Nominated Adviser and Joint Broker) Atholl Tweedie, Sandra Björck Charles Leigh-Pemberton Tel: +44 (0) 20 7886 2500

Allenby Capital Limited (Joint Broker) Nick Athanas Tel: +44 (0) 20 3328 5656

TooleyStreet Communications Limited (investor and media relations) Fiona Tooley Tel:  +44 (0) 7785 703523 Email: [email protected]

FTSE sector:  leisure: FTSE AIM All-share: symbol: CCT.L: Market cap: £105.9m Product ranges can be viewed at www.character-online.co.uk   Copies of this statement can be viewed at www.thecharacter.com

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

END

 

 

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RNS Number : 6193C

Pennant International Group PLC

02 October 2018

 

                                                                                                                                                           

 

FOR IMMEDIATE RELEASE                                                                                  02 October 2018       

                                                   

PENNANT INTERNATIONAL GROUP PLC

 

 

Major Contract Award

 

'Statement of Intent' converted into £10.2 million Middle East Order

 

 

 

Pennant International Group plc ("Pennant" or the "Group"), the AIM quoted supplier of integrated training and support solutions, products and services which train and assist engineers in the defence and regulated civilian sectors, is pleased to confirm that it has been awarded a major new contract.

 

Further to the statement of intent announced on 20 March 2018, Pennant has been formally awarded a contract for the supply and installation of a selection of training aids to Qatar.

 

The customer has ordered training aids from Pennant's existing range (both hardware and software) as well as new products which Pennant has been investing in to enhance its offering of generic training solutions.

 

Pennant's training aids will enable the end-user to deliver a broad array of training, including maintenance of mechanical and avionics systems and aircraft marshalling and ground handling activities.

 

The contract award is effective immediately with the contract due to be performed over the 2018, 2019 and 2020 financial years. The majority of the order comprises 'commercial off the shelf' products on which revenue will be recognised when the product is finished and ready for the customer, with the Group expecting to recognise the majority of revenue in 2019.

 

The initial value of the contract is £10.2 million.

 

Philip Walker, Pennant CEO commented: "This is a strategically important contract award for Pennant which underlines our excellent reputation in the Middle East and increases our contracted order book to over £40 million. We look forward to working with our customer to deliver the contract so that the end users can receive the world class training aids they deserve."

 

 

 

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

 

Enquiries:

 

Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CEO David Clements, Commercial & Risk Director	+44 (0) 1452 714 914
WH Ireland Limited	www.whirelandcb.com
Mike Coe	+44 (0) 117 945 3470
Walbrook PR (Financial PR)	[email protected]
Paul Vann / Tom Cooper	+44 (0)20 7933 8780 Mob: +44 (0)7768 807631

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 7098C

N4 Pharma PLC

02 October 2018

 

02 October 2018

 

N4 Pharma Plc

("N4 Pharma" or the "Company")

Research collaboration for novel DNA vaccine

N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company developing silica nanoparticles for vaccines and therapeutics, today announces that it has commissioned a research program with the Gowans laboratory in the University of Adelaide ("UoA") to investigate the potential of the Company's Nuvec® system to increase the efficacy of UoA's novel DNA vaccine.

 

The UoA has developed a novel cytolytic DNA vaccine which encodes an immunogen and a cytolytic protein (perforin).  UoA has shown their cytolytic DNA vaccine to be significantly more immunogenic than a canonical DNA vaccine (which encodes an alternative immunogen) when delivered via the intradermal route.  DNA vaccines are being developed as novel vaccine strategies to improve on the poor immunogenicity seen by traditional protein based vaccines in cancer and infection (e.g. HIV, hepatitis C).

 

Despite UoA showing improved immunogenicity with their cytolytic DNA vaccine the immune response is not sufficient to proceed into clinical trials. The purpose of this research collaboration is to determine if the use of Nuvec® can further increase the efficacy of the UoA cytolytic DNA vaccine in vivo.

 

The research program will not result in any financial benefit to the Company and the limited costs of the research, which are not expected to exceed £30,000, will be borne by N4 Pharma. Phase 1 is to test the delivery efficacy of combining the UoA cytolytic DNA vaccine with Nuvec® and will take around 4 weeks before proceeding into actual immunogenicity studies using different models, which would take a further 24 weeks.

 

Nigel Theobald, CEO of N4 Pharma commented: 

 

"This research program is a good example of how we see Nuvec® ultimately being used by partners. UoA has developed a novel cytolytic DNA vaccine but still needs to enhance its efficacy in order to take it forward.

"By partnering with UoA in this way and funding this research N4 will gain considerable insight into Nuvec's enhancing capability which will then form part of the data package to present to prospective commercial partners."

Enquiries:

 

N4 Pharma Plc Nigel Theobald, CEO	Via Alma PR
Allenby Capital Limited James Reeve/Virginia Bull/Asha Chotai	Tel: +44(0)203 328 5656
Alma PR Josh Royston Robyn Fisher	Tel: +44(0)778 090 1979 Tel: +44(0)754 070 6191

 

About N4 Pharma

N4 Pharma is a specialist pharmaceutical company developing a novel silica nanoparticle delivery system (Nuvec®) for use in vaccines and therapeutics.

Nuvec® has a unique spiky structure designed for excellent loading and transfection of pDNA and mRNA. As well as good dose loading it has strong binding affinity, pDNA and mRNA protection, transfects a range of cells and has shown a good immune response in preliminary studies.

N4 Pharma's business model for Nuvec® nanoparticles is to undertake the required pre-clinical and manufacturing work to demonstrate the readiness and capability of its nucleic acid delivery system as part of a vaccine and/or method to deliver DNA/RNA so that it can license the technology to major players developing treatments in this area, in return for up front milestone and royalty payments associated with the licence.

Glossary

 

Cytolytic: An agent that causes a cell to burst open.  In the context of the cytolytic DNA vaccine, the cytolytic protein will induce necrosis in vaccine targeted cells resulting in release of a range of damage associated molecular patterns (DAMPs) and cross presentation of the immunogen (antigen), and an increase in antigen-specific immune responses.

 

Canonical DNA vaccine: DNA encodes the immunogen only (i.e. not the cytolytic agent).  DNA vaccines not encoding a cytolytic agent, such as perforin, fail to result in cell death and rely on direct targeting of antigen presenting cells.  Hence, canonical DNA vaccination is less efficient than cytolytic DNA vaccination.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

END

 

 

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RNS Number : 4266C

Trakm8 Holdings PLC

01 October 2018

 

1 October 2018

 

 

Trakm8 Holdings plc

('Trakm8' or the 'Group')

 

Contract Extension Award

 

Trakm8 Holdings plc (AIM:TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has been awarded an extension to its contract with an existing customer, a major UK vehicle leasing company,  to supply it with the Group's telematics-based services.

 

The three-year contract is initially for 2,000 vehicles, which will be fulfilled during the current financial year ending 31 March 2019, and it is expected that the requirements will be between 10,000 and 15,000 vehicles over the lifetime of the contract.

 

John Watkins, Executive Chairman of Trakm8, commented: "Trakm8 has been working with this customer for some years and I am pleased to announce this extended agreement which demonstrates our ability to grow with our clients and adds to the Group's revenue visibility."

 

 

– Ends –

 

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: +44 (0) 167 543 4200
Jon Furber, Finance Director	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: +44 (0) 20 7614 5900
Paul Shackleton / Alex Penney	www.arden-partners.com

 

Media enquiries:

Buchanan
Chris Lane / Tilly Abraham	Tel: +44 (0) 20 7466 5000
[email protected]	www.buchanan.uk.com

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

 

www.trakm8.com / @Trakm8

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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Neville Registrars is delighted to welcome Trident Resources Plc as the newest addition to its list of client companies.

Trident Resources was formed in 2018 as an investment vehicle to identify, assess and acquire near term mining development and production assets to generate value for its shareholders.

Further information can be found on the Company's website: https://www.tridentresources.co.uk/

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Neville Registrars is delighted to welcome MySale Group PLC as the newest addition to its list of client companies.

MySale is a leading international online retailer with established online flash sales and retail websites in Australia, New Zealand, South-East Asia and the United Kingdom.

Further information can be found on the Company's website: https://www.mysalegroup.com/

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RNS Number : 2508C

Reabold Resources PLC

28 September 2018

 

28 September 2018

Reabold Resources Plc

("Reabold" or "the Company")

 

Rig Contract Signed for Wick and Colter

 

Reabold, the oil and gas investing company, is pleased to announce that Corallian Energy Limited ("Corallian" or "the Operator"), in which Reabold has a 32.9% interest, has signed a contract with Ensco UK Limited for the Ensco-72 jack-up rig to drill the Wick and Colter drilling campaigns. The two well drilling campaign is expected to begin in Q4 2018, subject to the receipt of necessary regulatory approvals and consents for both wells.

The Wick prospect, in which Corallian has a 40% interest, is estimated by Corallian to contain gross mean prospective resources of around 26 million barrels of recoverable oil equivalent.

Colter, in which Corallian has a 49% interest, lies 10km off the coast of Dorset, adjacent to Wytch Farm. Corallian estimates gross mean prospective resources of 23 million barrels of recoverable oil equivalent.

 

Sachin Oza, co-CEO of Reabold, commented:

"Given our unique exposure to both high-impact opportunities at Colter and Wick, today's news is highly exciting for Reabold and its shareholders. If successful, both prospects independently offer attractive economics, low development costs and fast payback, which could prove to be transformational for the Company.

As many of Reabold's investments are now entering operational periods, we look forward to continuing to provide further updates on each as progress continues over the next few months."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

 

For further information please contact:

 

Reabold Resources Plc Sachin Oza / Stephen Williams	c/o Camarco Tel. +44 (0)20 3757 4980
Strand Hanson Limited (Nominated and Financial Advisor) Rory Murphy / James Spinney / James Dance	Tel. +44 (0)20 7409 3494
Camarco (PR) James Crothers / Oliver Head / Billy Clegg	Tel. +44 (0)20 3757 4980
Whitman Howard Limited (Joint Broker) Hugh Rich / Grant Barker	Tel. +44 (0)20 7659 1234
Turner Pope Investment (TPI) Ltd (Joint Broker) Andy Thacker

 

 

Notes to Editors

Reabold Resources is an investing company investing in the exploration and production ("E&P") sector. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.  

As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment. 

Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price. 

Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 2173C

Immotion Group PLC

28 September 2018

 

28 September 2018

 

Immotion Group PLC ("Immotion Group" or the "Group")

Expands into Spanish Market through Exclusive Partnership Local Operator

 

Immotion Group PLC, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce the roll out of its ImmotionVR brand into Spain, which represents a new market for the Company.

 

The Company has signed an exclusive franchise distribution partnership with a major local leisure operator, Climbing Planet S.L. ("Climbing Planet"), which will open and operate multiple ImmotionVR branded experience centres, and identify additional supply opportunities, across Spain. Climbing Planet will purchase the VR experience simulators from Immotion Group, who will receive an ongoing revenue share from each site, thereby increasing the number of installed seats and positively impacting the cost of entering this consumer market.

 

The first planned centre will open in a shopping centre in the Northern Spanish city of Logrono in November 2018, followed by a second centre opening at a similar space in Barcelona in December 2018. Using its strong knowledge of the regional market, Climbing Planet plans to identify additional sites in shopping centres and malls with high footfall to continue its expansion.

 

Each VR centre will contain a host of Immotion Group's VR experience simulators, ranging from VR motorcycles and cars, to VR cinema pods. They will also include dedicated birthday party rooms and a coffee area.

 

Climbing Planet has experience of launching and operating the free roaming VR Experience "Zero Latency" system across the Spanish mainland and Portugal and therefore is no stranger to virtual reality. Partnering with Immotion has added another solution to its portfolio.

 

Martin Higginson, CEO of Immotion Group, said: "With a shared vision and a raft of experience that complements Immotion Group's, we see Climbing Planet as an ideal partner to introduce our VR experience centres into Spain. This deal will dramatically lower the cost of entering this exciting consumer market and we expect to benefit from the local knowledge that Climbing Planet benefits from, having rolled out VR experiences previously. The partnership highlights the exciting opportunities the Group continues to explore both within and outside the UK to allow more consumers to experience virtual reality, a lot of whom is for the first time."

 

Carles Comas Chief Executive Officer of Climbing Planet S.L said: "We are excited to be working with Immotion Group and to be bringing its experiences to Spanish consumers. ImmotionVR provides us with a unique opportunity to launch the ultimate VR destination, and we expect it to be one of our main concepts in the next two years. Immotion Group has created an inspiring offering which fits with our passion to deliver next-generation experiences that provide customers with a taste of the future."

 

 

Enquiries:

Immotion Group	Martin Higginson	Tel: +44 (0) 161 235 8505
WH Ireland Limited (Nomad and Joint Broker)	Adrian Hadden Jessica Cave	Tel: +44 (0) 207 220 1666
Shard Capital Partners LLP (Joint Broker)	Damon Heath Erik Woolgar	Tel: +44 (0) 20 7186 9900
Redleaf Communications (Financial PR)	Elisabeth Cowell Robin Tozer	Tel: +44 (0) 20 3757 6880 [email protected]

 

About Immotion Group

Immotion Group, co-founded by Martin Higginson and David Marks in 2017, generates revenues through the delivery of high quality "state of the art" VR experiences, combined with cutting edge motion platforms to consumers at an affordable price point through a range of routes:

 

●     Sales – sale of VR Motion Platforms to Leisure and Entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues

 

●     Concession partners – currently installed at a range of outlets including Merlin Entertainments' LEGOLAND® Discovery Centres in Boston, USA and in Manchester, UK and Genting Resorts World in Birmingham – this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities

 

●     Owned and franchised outlets, trading as ImmotionVR, located in high footfall shopping centres

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 6307B

Avanti Communications Group Plc

24 September 2018

 

Avanti Communications Group plc Signs Seven-Year

Capacity Lease Agreement worth US$ 84 million

 

London, 24 September, 2018

Avanti Communications Group plc (AVN.L, "Avanti", or "the Company") has signed a seven-year wholesale capacity lease agreement, worth US$ 84 million over the period, with a major international satellite service provider. The Company will receive US$ 12 million per annum in quarterly instalments for the duration of the agreement once commenced. The agreement is expected to commence in Q3 of the Company's next financial year ending 31 December 2019.

The capacity lease agreement for its HYLAS-fleet of satellites will increase significantly the Company's usage and fill-rates.

Kyle Whitehill, CEO of Avanti, said: "This agreement is a major vote of confidence in the Avanti network and offer. Since joining Avanti my ambition has been to drive growth through increased usage of the fleet and this deal does just that. I look forward to continuing to realise that ambition, and the Company looks forward to delivering the great service and support that we are known for."

This announcement contains inside information.

For further information:

 

Avanti: Chris McLaughlin              [email protected]             +44 759 096 4695

Cenkos: Max Hartley, Harry Hargreaves

Redleaf: Ralph Anderson             [email protected]

Montfort: James Olley                 [email protected]                                            +447974 982302

Note to Editors:

About Avanti Communications:

Avanti connects people wherever they are – in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and partners in 118 countries, the network provides ubiquitous internet service to a quarter of the world's population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek. Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka-band spectrum in perpetuity that covers an end market of over 1.7bn people. The Group has invested $1.2bn in a network that incorporates satellites, ground stations, datacentres and a fibre ring. Avanti has a unique Cloud-based customer interface that is protected by patented technology. Avanti Communications is listed in London on AIM (AVN: LSE). 

www.avantiplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 6178B

FireAngel Safety Technology Group

24 September 2018

 

24 September 2018

 

FireAngel Safety Technology Group plc 

("FireAngel" or "the Company")

 

St. Leger Homes Contract Win

 

FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, is pleased to announce it has been appointed as the exclusive supplier of smoke and heat alarms to St. Leger Homes. The appointment is effective immediately.

 

St Leger Homes works in partnership with Doncaster Council, providing housing services in the social and private sectors across over 22,000 properties. FireAngel's appointment follows a successful trial which demonstrated the effectiveness of the Group's smoke and heat alarms from the new FireAngel mains powered range.

 

Graham Whitworth, Executive Chairman of FireAngel, commented: "We are delighted to have signed this agreement with St Leger Homes. As a leading provider of housing services across Doncaster, they are the perfect partner for FireAngel, and the supply agreement is further validation of the quality of our products."

 

Rob Debenham, Contract Manager at St Leger Homes, commented: "St Leger Homes currently utilises a range of heat, smoke and carbon monoxide detectors from, and are working closely with, FireAngel as we continually review and enhance our specification as technology develops."

 

 

 

For further information, please contact:

 

FireAngel Safety Technology Group plc	02477 717700
Graham Whitworth, Executive Chairman Neil Smith, Group Chief Executive
Stockdale Securities Limited	020 7601 6100
Tom Griffiths
Vigo Communications Jeremy Garcia / Fiona Henson	020 7390 0238

 

 

Notes to Editors

 

About FireAngel Safety Technology Group plc ("FireAngel")

 

FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible.  FireAngel is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016. 

 

FireAngel's principal products are smoke alarms, CO alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, AngelEye and FireAngel Connect. 

 

For further product information, please visit: www.fireangeltech.com

 

About St Leger Homes

 

St Leger is an award-winning company providing housing services across Doncaster. It's wholly owned by Doncaster council and manages its 22,000 homes.

 

For further information on the company, please visit: www.stlegerhomes.co.uk  

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