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RNS Number : 8351G

Solid State PLC

09 November 2018

 

 

Solid State plc

("Solid State", the "Company" or the "Group")

Acquisition of Optoelectronics & Displays specialist –

Pacer Technologies Limited

 

Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic components, is pleased to announce the acquisition of Pacer Technologies Limited and its subsidiaries ("Pacer") (the "Acquisition").

 

The Company has exchanged contracts to acquire the entire share capital of Pacer Technologies Limited for a cash consideration of £3.73m, subject to a net asset adjustment.  The consideration is being settled out of the Group's existing resources and new banking facilities provided by Lloyds Bank plc.

 

Highlights of the Acquisition include:

 

·      Pacer is well established in the specialist markets of Optoelectronics and Displays

·      The Acquisition significantly enhances Solid State's exposure to the niche Medical sector

·      Pacer focuses on value added component distribution and custom design, targeting enhanced margin opportunities

·      The Acquisition will enable the enlarged Group to further design and manufacture own brand products for distribution utilising Pacer's recent investment in a new value added production facility in Weymouth

·      Pacer has an established US subsidiary

·      Pacer generates circa 40% of its revenues from overseas

·      Consideration is being satisfied out of Group resources and a new term loan facility

·      The Acquisition is expected to be earnings enhancing in the first full year

·      Pacer operates at higher gross margins than the Group's traditional distribution business

·      Pacer will form part of the Group's Distribution division, operating as a separate company

·      The Acquisition gives the Group greater scale, strength and depth in high growth markets

 

For the year ended 31 March 2018, Pacer reported revenue of £15.2m, and a profit before tax of £431k. As at 31 March 2018 Pacer had net assets of £1.06m and had net debt of £1.5m.

 

Introduction to Pacer Technologies Limited:

 

Pacer was established in 1989 to specialise in the distribution and custom design of optoelectronic components, lasers and displays to the OEM market in the medical, military, commercial, industrial and security sectors.  Serving an international client base, Pacer has a reputation for supplying high quality components in a customer-centric manner, often involving custom design and manufacturing to address individual needs.

 

Pacer operates in two areas, Components and Displays, supplying world class blue chip companies.  The Components business is distribution based with a smaller proportion of its sales derived from manufacturing, own brand and assembly based products. Products include industrial LEDs and light sources, lasers and laser range finders, photon detection and counting equipment. The Displays business complements and enhances that of Solid State Supplies. Products include industrial and commercial grade displays.

 

In the UK, Pacer operates from offices in Pangbourne and Weymouth, with a sales office in Crawley. Its US subsidiary is based in Florida.

 

Banking:

 

In completing this deal, the Group's primary banker Lloyds Bank plc has put in place committed facilities made up of £6.0m of term loans and a £3.5m revolving credit facility to fund the consideration and the working capital requirements of the enlarged Group.

These facilities have enabled the Group to refinance Pacer's £3.5m invoice discounting and term loan facilities on better terms. Pacer net debt at 31 March 2018 was £1.5m. Principally due to the capital investment undertaken by Pacer since that date, net debt is expected to be higher than this on completion of the Acquisition.

 

Commenting on the Acquisition, Gary Marsh, Chief Executive of Solid State, said:

 

"Pacer is a company that we have known and admired for many years.  Their expertise and product set are complementary to the existing Solid State Group, with the added benefit of enhancing the value added operations and increasing exposure to high growth markets such as the medical sector. In addition, Pacer has an established US business which provides the Group with an opportunity to further develop its US activities.

 

"The two businesses share many cultural similarities, including the specialist sales force approach, which means that client design teams are talking to like-minded engineers.

 

"We look forward to welcoming the Pacer team to Solid State where we believe they will further grow as part of the enlarged Group."

 

 

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

 

 

For further information please contact:

 

Solid State plc	01527 830 630
Gary Marsh – Chief Executive Peter James – Group Finance Director	[email protected]
WH Ireland (Nominated Adviser & Joint Broker)	0117 945 3470
Mike Coe / Chris Savidge (Corporate Finance) Jasper Berry / David Kilbourn (Corporate Broking / Sales)
finnCap (Joint Broker) Ed Frisby (Corporate Finance) Rhys Williams (Corporate Broking / Sales)	020 7220 0500
Walbrook PR (Financial PR)	020 7933 8780
Tom Cooper / Paul Vann	0797 122 1972
	[email protected]

 

 

 

Notes to Editors:

 

Solid State plc (SOLI) is a leading value added group of companies providing specialist distribution, design-in and manufacturing services to those acquiring computing, power and communications products; and electronic and optoelectronic components; for use in harsh environments. 

 

Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a component supplier to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.

 

Headquartered in Redditch, Solid State employs over 200 staff across the UK with a sales office in the USA.  Solid State operates through two main divisions: Manufacturing and value added Distribution.

 

Solid State was established in 1971 and admitted to AIM in June 1996.

 

 

 

No statement in this announcement is intended to be a profit forecast or estimate and no statement in this announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

 

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 : 7798G

Pennant International Group PLC

08 November 2018

 

                                                                                                                                                           

FOR IMMEDIATE RELEASE                                                                                  08 November 2018   

 

 

PENNANT INTERNATIONAL GROUP PLC

 

 

Major Contract Award valued at up to c. C$30 million

&

Contracts Update

 

 

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 operators and maintainers in the defence and regulated civilian sectors, is pleased to provide the following update on recent contract developments.

 

Integrated Logistics Support

 

The Canadian government has awarded a new consulting services contract to Pennant Canada Limited for the use and optimisation of Pennant's OmegaPS suite of supportability software which is used throughout the Canadian Department for National Defence ("DND"), further extending the 18-year consultancy relationship between Pennant and the DND.

 

The contract provides a framework which allows for services to be called upon on an 'as and when required basis' for an initial two-year term with the option to extend until November 2023. The initial value of the two-year framework is C$11.9 million, with the overall value (for the full five years) being in the region of C$30 million (as against C$19.7 million for the previous contract). 

 

Pennant's OmegaPS and OmegaPS Analyzer are the Logistic Support Analysis and Life Cycle Costing software products of choice for the DND and have been used extensively throughout the department since the early 1990s.

 

Philip Walker, Pennant CEO commented: "We are delighted to have secured this new contract with the Canadian DND, which is testament to the close, long-standing partnership Pennant has with the DND. The award confirms the capability and value of the OmegaPS suite and provides a firm foundation for the continued expansion of the Group's consulting business globally."

 

Technical Documentation

 

Pennant has also secured an initial order from a new customer (a prime rail car builder) for the provision of technical documentation services. The value of the order is not being disclosed but is expected to grow over time and builds on the Group's extensive experience and well-established reputation in technical documentation services in the rail sector.

 

Training Solutions

 

Furthermore, the Group has made good progress in negotiations relating to the potential contract first announced on 9 August 2018 for the design, build and delivery of training equipment to an undisclosed customer for which it has been 'down-selected'. Preliminary exchanges of data are ongoing and preparatory works are under way. It is currently anticipated that the customer will formally award the contract in either late 2018 or during the first half of 2019. The potential value of the contract (£25 million to £30 million) remains unchanged.

 

 

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 +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.

 

END

 

 

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RNS Number : 4057G

Surgical Innovations Group PLC

06 November 2018

 

 

                                                                     Surgical Innovations Group plc                                                                    

("Surgical Innovations")

 

Surgical robot technology UK distribution deal

Elemental Healthcare signs Distribution agreement with surgical robot manufacturer DistalMotion

 

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative technology for minimally invasive surgery ("MIS"), announces that its wholly owned subsidiary, Elemental Healthcare Limited, has signed a three year exclusive UK distribution agreement with DistalMotion SA, a Swiss manufacturer of a new surgical robot.

 

The 'Dexter' robot brings a totally new dimension to the clinical efficacy of robotic surgery, allowing a surgeon to swap from robotic to laparoscopic surgery and back as required within the sterile field. 'Dexter' will be CE marked in mid-2019 giving Elemental Healthcare time to train a dedicated team in preparation for its launch.

 

Adam Power, Group Development Director of Surgical Innovations Group plc, commented: "The market for surgical robots in the UK is limited by the cost and by the range of applications for which existing competitors are appropriate. 'Dexter' offers a much broader range of surgical opportunities and employs a novel funding model. As a consequence, we expect 'Dexter' by DistalMotion SA to address the issues limiting the growth of surgical robots in the UK and to be a more acceptable solution for NHS and Private Hospitals."

 

Dr Matthias Reif, Head of Sales and Marketing of DistalMotion SA commented: "Elemental Healthcare is a proven partner to commercialise innovative technology, and we are excited to partner as we believe this is the best route to commercialise 'Dexter'. The UK market is among the largest medical device markets in Europe, and a key region for Distalmotion to prove robotic surgery can be simplified and integrated into laparoscopic surgery."

 

For more information on DistalMotion SA, please visit: www.distalmotion.com

 

For further information please contact:

 

Surgical Innovations Group plc	www.sigroupplc.com
Nigel Rogers, Executive Chairman	Tel: 0113 230 7597
Melanie Ross, COO & CFO
WH Ireland Limited (NOMAD & Broker)	Tel: 0207 220 1666
Adrian Hadden Chris Viggor
Walbrook PR  (Financial PR & Investor Relations)	Tel: 020 7933 8780 or [email protected]
Paul McManus	Mob: 07980 541 893
Lianne Cawthorne	Mob: 07584 391 303

 

 

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 : 8867F

EU Supply PLC

31 October 2018

 

RNS Reach

31 October 2018

EU Supply plc

("EU Supply", the "Company" or the "Group")

 

Contract Win

 

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that the States of Guernsey has entered into an agreement with the Company to license its CTMTM service platform as SaaS with support and related services. CTMTM will become the States of Guernsey's national eProcurement service.

 

The contract was awarded following a competitive tendering process with the award criteria including ease of use, breadth and depth of functionality and speed of implementation. EU Supply's CTMTM platform will go live early in 2019.

 

Thomas Beergrhen, CEO of EU Supply plc, commented: "This contract is of particular significance to the Company as it highlights demand for CTMTM, an advanced competitive tendering service platform, also from a jurisdiction outside of the EU and the European Economic Area."

 

FURTHER ENQUIRIES

EU Supply PLC Tel: 020 7127 4545 Thomas Beergrehn, CEO   Fredrik Wallmark, CFO       Stockdale Securities Tel: 020 7601 6100 Tom Griffiths, Ed Thomas

 

A copy of this announcement is available at www.eu-supply.com.

 

Notes to Editors

EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for e-sourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.

Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.

The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 8,000 European public sector bodies in 9 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).

The Company's shares were admitted to trading on AIM in November 2013. In August and September 2015, the Company raised a total of £2.061m (before expenses) through a placing of new shares and the issue of first and second tranches of Convertible Loan Notes to institutional and other investors. On 25 May 2018, the Company announced that it had raised a further £600k (before expenses) through a placing and subscription of new shares.

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 : 7859F

Concepta PLC

31 October 2018

 

31 October 2018

Concepta Plc

("Concepta" or the "Company")

myLotus® launch: Saturday 3rd November The Fertility Show, Olympia, London

Concepta Plc (AIM: CPT), the innovative UK healthcare company and developer of the proprietary self-test platform ("myLotus® ") and suite of emerging test products targeting the mobile health market is pleased to announce the launch of its breakthrough myLotus®  product for women's fertility at the Fertility Show, Olympia, London, stand H22 over the weekend of the 3rd/4th November 2018.

myLotus® allows women to self-test to identify their optimal fertile days thereby improving their chances of naturally getting pregnant. myLotus® enables women to monitor their fertile phase as part of their menstrual cycle and is the only home test to 'quantitatively' measure personalised hormone levels and the 'rate-of-change' of these levels preceding ovulation to help aid a natural conception. Users measure, record and track their hormone levels and follow their fertility journey in an accompanying free downloadable app.  

myLotus® will be available to women who are planning to start a family or for those who have previously struggled to naturally conceive, enabling couples an alternative prior to considering more costly IVF treatment.   

The Fertility Show stand will also include representation from Key Opinion Leaders, fertility doctors and health experts who will be available to discuss myLotus®.

Matthew Walls, Chairman said: "The Fertility Show marks the UK launch of our myLotus® fertility product and the start of our roll-out across CE territories. Women attending the show can exclusively buy a Starter Pack, consisting of a myLotus® monitor, 3 packs of 20 Ovulation Tests (LH) and 3 packs of 3 Pregnancy Tests (hCG), at the 'Special Launch' price of £199. We look forward to an exciting Fertility Show and to welcoming women and couples to our stand. myLotus® will also be available online at www.myLotus.com"

 

Enquiries

Company: www.conceptaplc.com, Product: www.myLotus.com

Matthew Walls, Chairman

Tel: +44 (0) 1234 866601

 

SPARK Advisory Partners Limited (Nomad)

Neil Baldwin / Mark Brady

Tel: +44 (0)20 368 3550

 

Novum Securities

Colin Rowbury

+44 (0) 20 7399 9400

 

Yellow Jersey PR Limited (Financial PR)

Georgia Colkin / Joe Burgess/Katie Bairsto

Tel: +44 (0) 776 932 5254

 

About Concepta Plc:

Concepta Plc is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product, myLotus®, targeted at the personalised mobile health market with a primary focus on increasing a woman's chances of getting pregnant naturally and for unexplained infertility in women.

myLotus® is currently the only consumer product which allows both quantitative and qualitative home (self-test) test measurement of a woman's personal luteinizing hormone (LH) during ovulation and human chorionic gonadotropin (hCG) hormone level during pregnancy, facilitating higher conception rates and early diagnosis of fertility issues. The proposition of myLotus® is to help women conceive naturally by identifying their window of fertility and optimal time for conception.

The Company has received CE-mark certification for myLotus® and is preparing its B2C launch in the UK and Europe. The Company has identified a significant global market opportunity with revenue potential of the EU and Chinese unexplained infertility market estimated to be worth c.£600m per annum.

Concepta has also made progress in establishing relationships with a number of distributors in China where myLotus® has been given cFDA approval. Concepta is initially targeting the traditional route to market in China through Chinese hospitals and plans to add the B2C route in the near future. 

myLotus® is expected to be beneficial to users diagnosed with 'unexplained infertility' who have been unable to conceive after 6 months of trying. This highly motivated target group of consumers won't typically be offered medical intervention until 12 months of unsuccessfully trying, with IVF typically not offered until two years. Research indicates couples start to take positive action ahead of this time with little medical support to help them do so.

 

 

 

 

 

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 : 5890F

Tracsis PLC

30 October 2018

 

30 October 2018

Tracsis plc

("Tracsis" or the "Group")

 

Significant Contract Win

 

Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has secured a significant order for data hosting services and software licences with a major rail client.  The order is predominantly a renewal and extension of existing arrangements, over a two year period with a value in excess of £2m.

The Directors are keen to stress that this win does not change current year financial forecasts but is a further positive step forward in the Group's evolution towards delivering larger technology deals and cementing its position as a valued supplier within the UK rail industry.

 

Enquiries:

Tracsis plc                                                                                                                                             Tel: 0845 125 9162

John McArthur, CEO

Max Cawthra, CFO

finnCap Ltd                                                                                                                                           Tel: 020 7220 0500

Christopher Raggett/Scott Mathieson, Corporate Finance

Andrew Burdis, Corporate Broking

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Notes to editors: 

·   The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.

·   Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers. 

·   The Company offers the following services:

·     Rail Technology & Services: Software and technology led consulting, and remote condition monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

·     Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.  The business provides technology and data that is instrumental in the development of 21st century intelligent transport systems and smart cities.

·   Tracsis has a blue chip client base which includes all major UK transport owning Groups.  The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting events, and a wide variety of large engineering and infrastructure companies.

·   The business drives growth both organically and through acquisition and has made ten acquisitions since 2008.

·   For more information on Tracsis please visit http://www.tracsis.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.

 

END

 

 

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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.

 

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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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