Posts in LSE:AMR

Armour takeover of OneView approved

Armour shareholders have approved the acquisition of OneView Commerce Inc at a general meeting earlier today for an aggregate consideration of £15.26m.

Admission of the enlarged group's shares is expected occur at 8.00 a.m. on 21 March when the company's name will change to OneView Group plc and the Company's TIDM will be 'ONEV'.

In addition, following shareholder approval, the company will immediately prior to admission complete the disposal of its equity interest in Q Acoustics and the loan, both of which were sold to Hawk Investments.

Armour agrees takeover of OneView

Armour Group has has conditionally agreed to purchase OneView Commerce Inc, an omni-channel and mobile point of sale software provider, for 305,263,158 consideration shares.

Based on a value of 5 pence for each consideration share, this values OneView at approximately GBP15.26 million.

Armour also proposes to make a tender offer of 22,392,875 existing shares at 5 pence per share, which will be completed prior to completion.

Armour set to acquire growing software business

Armour says that further to its announcement of 12 November it is in advanced preparations to acquire a growing software business focused on mobile point of sale to large retailers.

The proposed transaction, which would constitute a reverse takeover under AIM Rules is conditional on completing outstanding due diligence and shareholder approval.

Armour expects to announce the proposed transaction and post a circular to shareholders, comprising an Admission Document, by the end of February 2016.

Armour change in loan repayment terms

Armour Group has announced changes in repayment terms on the GBP0.3m loan to Armour Home Electronics.

Repayments are now GBP100,000 tomorrow (15 January) followed by repayments of GBP50,000 on the 15th of February, March, April and May. All other conditions of the loan remain the same. The initial GBP1.0m loan remains in place which is due for repayment in July 2019.

Armour resolutions passed at AGM

Armour has confirmed that all resolutions proposed at the group's annual general and general meeting earlier today were passed.

Armour Group in discussions with software business

Armour Group has reported its results for the year ended 31 August 2015.

It remains an investing company and continues to look at a number of opportunities. The company did not trade in the year.

It says it is currently in discussions with a retail focused software business and has begun due diligence.

Should the proposed transaction proceed it would constitute a reverse takeover. There can be no guarantee that the current proposal will reach a successful conclusion and shareholders will be informed should the transaction progress.

Armour shares suspended

Trading in Armour Group's shares will be suspended from tomorrow because it has been unable to complete an acquisition which constitutes a reverse takeover under the AIM Rules, or otherwise implement its investing policy within 12 months.

Armour says it has been pursuing opportunities for the implementation of the company's investing strategy and several have progressed to detailed diligence.

The xompany became an investing company following the disposal of Armour Home and Armour Hong Kong on 18 July 2014.

At 9:02am: (LON:AMR) Armour Group PLC share price was -1.5p at 3.25p

Armour makes additional loan to AHE

Armour Group has agreed a further loan of £0.3m to Armour Home Electronics. Armour made a loan of £1m to AHE in July 2014.

This additional loan is on a 90 day term at an annual interest rate of 10% which is payable monthly. The initial £1.0 million loan remains in place.

At 9:32am: (LON:AMR) Armour Group PLC share price was 0p at 5.5p

Armour looking at a number of opportunities

Armour Group remains an investing company and continues to look at a number of opportunities, an interim management statement for the six months to the end of February says. The company did not trade in the six month period.

At 8:10am: (LON:AMR) Armour Group PLC share price was +0.01p at 5.88p

Hawk offer for Armour closed

Hawk Investment Holdings' mandatory cash offer Armour Group closed on Friday and is no longer capable of acceptance.

Hawk said it had received valid acceptances in respect of 17,481,628 Armour shares - approximately 18.01% of Armour's existing issued share capital.