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(SEV.L) Servision PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 27-10-09 | RNS |
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RNS Number : 4214B SerVision plc 27 October 2009 27 October 2009 SerVision Plc ("SerVision" or the "Company") Issue of Equity SerVision plc (AIM: SEV), the AIM listed developer and manufacturer of digital security systems, is pleased to announce that it has completed a placing of 5,914,057 new ordinary shares of 1 pence each in the Company at a price of 9p per share, raising £532,265 (before expenses) for the Company (the "Placing"). The net proceeds of the Placing will be used by the Company for general working capital purposes. As part of the Placing the Company has also issued NIR Rotenberg Limited with warrants to subscribe for a total of 833,333 new ordinary shares of 1 pence each in SerVision in consideration for services provided by NIR Rotenberg Limited pursuant to the Placing. The warrants are exercisable at 18p per ordinary share at any time within 24 months of issue. In addition, the Company has today issued 257,222 new ordinary shares of 1 pence each in the Company to Implement Limited, a company wholly owned by Eitan Yanuv (Finance Director of SerVision), in lieu of salary for the period from 1 January 2008 to 31 December 2008. The shares were issued at a price of 9p per share. After the issue of shares, Mr Yanuv will have a beneficial interest in 257,222 ordinary shares in the Company, equal to 0.65% of the enlarged issued share capital. Application has been made for the 6,171,279 new ordinary shares, which will be issued paid up and rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM and it is expected that such admission will be effective as of 8a.m. on 02 November 2009. For further information see www.servision.net or contact:
Gidon Tahan, Chairman and Chief Executive Officer
Eitan Yanuv, Finance Director
James Reeve Old Park Lane Capital plc Forbes Cutler This information is provided by RNS The company news service from the London Stock Exchange END
IOEPUGBWUUPBUBM More |
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| 30-09-09 | RNS |
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RNS Number : 9745Z SerVision plc 30 September 2009
30 September 2009 SerVision plc ("SerVision" or the "Company") Unaudited Interim Results for the six months to 30 June 2009 SerVision (AIM:SEV), the AIM listed developer and manufacturer of digital security systems, is pleased to announce its interim results for the six months ended 30 June 2009. Highlights
Commenting on the results Gidon Tahan, Chairman and Chief Executive Officer, said: "I am pleased with our performance given the current global economic climate. There has been a tangible rebound in the mobile surveillance market over the last couple of months and I am confident that our results for the second half of the year will reflect this shift. I am grateful to the employees of SerVision for their hard work and commitment." Chairman's Statement I am pleased to announce SerVision's consolidated group financial statements for the six months ending 30 June 2009. Losses before taxes for this period were reduced by 72% when compared with the same period from last year ($316,000 for this period compared with $1,113,000 for the six month period through 30 June 2008). Revenues during this period, however, were below expectations partly due to the ongoing global financial crisis and also because a number of anticipated orders were put on hold until the second half of the year. Having said that, I am confident that our performance will improve in the second half of 2009. Indeed, since June 2009 we have signed a new distribution agreement with a Singaporean-based company, and we have secured a large police project in Bogota, Colombia. I remain optimistic about our current pipeline and we are hopeful that revenues will improve in the second half of the year. Sales and Marketing During the period we have widened our distribution network and territorial reach considerably, particularly in the Far East. Earlier this year, we announced major distribution contracts in China and India, and more recently in Singapore, Indonesia, Malaysia and Thailand. We also recently announced that SerVision was awarded a tender by the Colombian police force in Bogota which we expect to sign in the very near future. Since being awarded the tender, I have been informed by our local partner in Bogota that the police are now contemplating increasing the quantity of required MVG 400s from 465 to 665 systems. Research and development The Company's research and development team is hard at work on a mobile, light-weight two-channel video transmitter called the CVG-M. This unit is ideal for body-worn applications. Markets all over the world, particularly among police forces and militaries that are already familiar with the MVG 400 for vehicle applications, have responded very favourably to prototypes of this system. Taxi companies have also expressed significant interest in this unit due to its low cost, cellular video transmission capabilities, and its ability to locally capture and store high quality video on the system's flash drive. If internal timetables are met, this new technology is expected to be fully commercialized in the fourth quarter of the current financial year. In addition, the Company has recently added new functionality to the MVG 400/800 mobile video gateways. In addition to providing live video, GPS and bidirectional audio to meet the transportation market's security needs, these units are now able to broadcast advertising content supplied by local merchants and businesses. MVGs installed on buses, trains, and other forms of public transportation, are now able to generate income from local advertisers. This functionality is in high demand among our partners as it will help them demonstrate that our solution provides ultimate security, and it will pay for itself over a matter of months. Financials
Conclusion SerVision remains competitive and is pursuing larger contracts and agreements than in previous years. It maintains a healthy indicative order book for the second half of 2009. I sense that in the last couple of months, confidence is returning to our market and we remain well-positioned to capitalise on new opportunities in the mobile surveillance market. Again, I am pleased that SerVision's commercial prospects appear to be healthy and strong for the remainder of this year and we continue to be optimistic about the future. I am grateful to our shareholders for their continued support, as well as to our dedicated staff for their invaluable contribution to the success of the company. Gidon Tahan Chairman and Chief Executive Officer 30 September 2009 For further information please contact:
Eitan Yanuv, Finance Director
Nick Athanas/James Reeve A copy of the interim report will be available on the Company's website- www.servision.net- in accordance with the AIM Rules for Companies.
SERVISION PLC
CONDENSED GROUP INCOME STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2009
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OPERATING LOSS (293) (957) (857)
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LOSS ON ORDINARY
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Loss per share
SERVISION PLC
CONDENSED GROUP BALANCE SHEET
AT 30 JUNE 2009
ASSETS
Non-current assets
------------- ------------- ------------
Current assets
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------------- ------------- ------------
EQUITY
Capital and reserves
attributable to the Company's
equity shareholders
translation reserves ------------- ------------- ------------
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LIABILITIES
Current liabilities
institutions
chief scientist
------------- ------------- ------------
Non-current liabilities
institution
Scientist
------------- ------------- ------------
-------------- -------------- ------------
SERVISION PLC
CONDENSED GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2009
income and expense ------------- ------------- --------------- ---------------- ---------------- --------------
2008
income and expense ------------- ------------- --------------- ---------------- ---------------- --------------
SERVISION PLC
CONDENSED GROUP CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2009
Cash flows from operating
activities
Adjustments for:
assets
receivables
scientist
benefits
payables -------------- -------------- ---------------
Cash flow from investing
activities
and equipment and intangibles -------------- -------------- ---------------
investing activities
Plc
repaid -------------- -------------- ---------------
financing activities
beginning of period
activities
foreign currency translation --------------- --------------- ---------------
end of period
Cash and cash equivalents
comprise
and cash equivalents
--------------- --------------- ---------------
(201) (475) 38
SERVISION PLC
NOTES TO THE REPORT AND CONDENSED GROUP FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2009
The condensed group financial statements have been prepared using accounting policies consistent with International Financial Reporting Standards (IFRS) as endorsed for use by Companies listed on an EU regulated market and in accordance with IAS34 - "Interim Financial Reporting". The same accounting policies, presentation and methods of computation have been followed in the preparation of these results as were applied in the Group's latest annual audited financial statements. It is not expected that there will be any changes or additions to these in the 2009 annual financial statements.
This statement does not comprise statutory accounts as defined in Section 434 of the Companies Act 2006 and the results for the six months ended 30 June 2009 and for the six months ended 30 June 2008 are unaudited.
The financial information for the year ended 31 December 2008 is an extract from the latest group accounts. Statutory financial statements for the year ended 31 December 2008, prepared in accordance with IFRS, on which the auditors gave an unqualified opinion, but did include references to matters to which the auditors drew attention by way of emphasis without qualifying their reports.
The condensed group financial statements are presented in US Dollars and all values are rounded to the nearest thousand dollars ($'000) except when otherwise indicated.
During August 2009, the Company issued 3,333,333 new ordinary shares at a price of 9 pence per share raising £300,000. The net proceeds will be used for additional working capital for the subsidiary.
The turnover, loss on ordinary activities before taxation and net assets of the Group are attributable to one class of business, that of developing and selling video surveillance equipment.
Geographical areas
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The Company is controlled and managed by its Board in Israel. Accordingly, the interaction of UK domestic tax rules and the taxation agreement entered into between the U.K. and Israel operate so as to treat the Company as solely resident for tax purposes in Israel. The Company undertakes no business activity in the UK such as might result in a Permanent Establishment for tax purposes and accordingly has no liability to UK corporation tax.
The loss per share of 1.06c (31 December 2008: 4.12c; 30 June 2008: 4.49c) has been calculated on the weighted average number of share in issue during the year namely 29,881,490 (31 December 2008: 25,825,242; 30 June 2008: 24,773,637) and losses of US$ 316,861 (31 December 2008: US$1,063,900; 30 June 2008: US$1,112,336). Due to the immaterial number of options in issue there is no material difference between the diluted and basic loss per share. This information is provided by RNS The company news service from the London Stock Exchange END
IR URUORKURKOAR More |
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| 21-09-09 | AFX UK Focus |
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LONDON, Sept 21 (Reuters) - Servision Plc:
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 21-09-09 | RNS |
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RNS Number : 3833Z SerVision plc 21 September 2009
SerVision plc ('SerVision' or the 'Company') Distribution Agreement SerVision Plc (AIM:SEV), the AIM listed leading developer and manufacturer of digital security systems, is pleased to announce that it has further expanded its geographical reach through an exclusive distribution agreement with WiSOL Singapore Pte Ltd ("WiSOL"), (the "Agreement"). Under the terms of the Agreement, WiSOL has exclusive rights to distribute SerVision's video gateway products in Thailand, Indonesia, Malaysia and Singapore. The Agreement is worth up to USD $800,000 to SerVision and the first purchase order, totalling $198,250, has been received by the Company. The Agreement is for an initial term of one year, which may progress into a further one year contract at the agreement of both SerVision and WiSOL. In addition, the Company has won the tender to supply 465 MVG 400 units to the Columbian Police force in Bogota. The contract, which the Company expects to be signed in the next two weeks, is worth USD $385,000 to SerVision. A further announcement will be made in due course in relation to the contract with the Colombian National Police Force. Gidon Tahan, Chairman and CEO of SerVision, commented: "The additions of Thailand, Indonesia, Malaysia and Singapore are major territories to add to the geographies in which SerVision's products are sold. We are delighted that WiSOL and the Columbian National Police Force have seen the benefits which our technologies can bring and we hope this will be the start of two profitable relationships. "
For more information see www.servision.net or contact:
Eitan Yanuv, Finance Director
Nick Athanas/James Reeve This information is provided by RNS The company news service from the London Stock Exchange END
AGRBFLFLKKBXBBZ More |
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| 29-09-09 | ||||
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Does anyone have an idea if Interim Results for this share are being relased today? I was sure I saw a date of 29th Sept 2009. Can anyone confirm?
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Well done AE! It's good to see someone having a fantastic run in a drab market. Personally, I am awaiting the RNS over on the Nighthawk site - I have got a lot invested so it's make or break time....
I will keep an eye on your other tip. Cheers, Gene More | View thread (2) | Respond | Login to Vote up | Login to Vote down |
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