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(SLG.L) Sarantel Group PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 10-11-09 | RNS |
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RNS Number : 2663C Sarantel Group PLC 10 November 2009 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH SUCH PUBLICATION IS UNLAWFUL. 10 November 2009 Sarantel Group PLC ("Sarantel" or the "Company") Placing to raise £2.25 million Sarantel, the leading manufacturer of revolutionary filtering antennas for mobile and wireless devices, has conditionally raised £2.25 million, before expenses, from the placing by Seymour Pierce Limited of 100,000,000 A Ordinary Shares of 1 pence each in the capital of the Company at 2.25p per share with institutional and other investors. The placing is conditional on, amongst other things, the passing of certain resolutions at the general meeting of the Company and on admission of the new A Ordinary Shares to trading on AIM. Background to and reasons for the Placing In the statement that accompanied the interim results for the six months ended 31 March 2009, which were announced on 3 June 2009, the Group reported that its turnover had grown significantly in the period, from £1 million to £1.7 million. In addition, as stated in the year-end trading update also released today, the Directors expect that revenue will have increased by 55 per cent. for the year ended 30 September 2009. This increase is due to high-value applications for the Group's antenna technology, such as satellite phones and military equipment. It was also reported in the interim results that the Group's revenues from the consumer GPS market remained stable, despite the difficult economic conditions and that the use of GPS was increasing because it was fast becoming a "must have" feature in popular consumer products. In recent months Sarantel has announced production orders from three customers, Thales Communications Inc, General Dynamics Corporation and Hertz. In addition, the Group has had a further design win with SkyCaddie GPS golf rangefinders and has received production orders for use in the Solara Field Tracker 2100, a 2-way satellite communication device produced by NAL Research, and the Ricoh 500SE digital camera. In order for the Group to take advantage of opportunities in the consumer products sector, it has appointed an experienced sales director and is already developing or planning new antenna designs. The Group's cash resources as at 31 March 2009 and 30 September 2009 were £2.2 million and £0.9 million, respectively. In order to improve the Group's cash resources, the Directors have decided to arrange the Placing. The proceeds of the Placing, which amount to approximately £2.06 million after expenses, will allow the Group to continue to develop the customer pipeline, develop new antennas and provide working capital generally. The Directors believe that the proceeds of the Placing will provide sufficient working capital for the Company's present requirements. The Placing Under the terms of the Placing Agreement, Seymour Pierce has conditionally placed, as agent and broker to the Placing for the Company, 100,000,000 A Ordinary Shares at the Placing Price to raise £2.25 million (gross) and approximately £2.06 million (net of expenses) for the benefit of the Company. The Placing is conditional, inter alia, upon Admission taking place by 8:00am on 4 December 2009 (or such later date, being not later than 11 December 2009, as the Company and Seymour Pierce may agree). The Placing Agreement contains provisions entitling Seymour Pierce to terminate the Placing Agreement at any time prior to Admission in certain circumstances. If this right is exercised, the Placees obligations in relation to the Placing will cease. The Placing Shares, when issued and fully paid, will rank equally in all respects with the issued A Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after Admission. Directors' and Shareholders' participation in the Placing Certain Directors and Shareholders have agreed to subscribe for A Ordinary Shares in the Placing. The total number of Ordinary Shares subscribed for and the subsequent holdings of the Directors and Shareholders concerned as a percentage of the issued ordinary share capital as enlarged by the Placing are as follows:
Hawk Investments Holdings
It is expected that admission of the Placing Shares will become effective and dealings in the Placing Shares will commence on 4 December 2009. Following Admission, the Company will have 290,936,331 ordinary voting shares in issue. Each of Foresight Group and Hawk Investment Holdings Limited, each as a holder of greater than 10 per cent. of the Existing Ordinary Shares of the Company, is a related party for the purposes of the Placing. The Directors having consulted with MJES, the Company's nominated adviser, consider the terms of the Placing to be fair and reasonable insofar as the Company's shareholders are concerned. In advising the Directors, MJES has relied upon the Directors commercial assessments. Taxation The following paragraphs apply to the Company and to persons and entities who are holders of Ordinary Shares and/or proposed holders of A Ordinary Shares under the Placing and resident in the UK. The information is based on current UK legislation and practice, is subject to changes therein, is given by way of general summary and does not constitute legal or tax advice. If you are in doubt about your tax position, or if you are subject to tax in a jurisdiction other than the UK, you should consult your independent financial adviser. The Company has previously obtained clearance from HM Revenue & Customs that subscriptions made to date in the Company by VCTs and investors seeking EIS relief constituted "qualifying holdings" and eligible shares under VCT and EIS legislation respectively. Although the Company currently satisfies the relevant conditions contained in the VCT and EIS legislation, neither the Company nor the Directors make any representation or warranty or give any undertaking that VCT and EIS relief will be available in respect of any investment in the Placing Shares, nor do they represent, warrant or undertake that the Company will maintain its qualifying status for VCT investors or that, once given, such relief will not be withdrawn, or that the Company will keep its qualifying status throughout the relevant holding periods for EIS investors. General Meeting A General Meeting of the Company has been convened for 12 noon on 3 December 2009 at the offices of Seymour Pierce, 20 Old Bailey, London EC4M 7EN. The Resolutions seek to:
(b) disapply statutory pre-emption rights in respect of the allotment of up to 100,000,000 Placing Shares. Following the proposed Placing, the Company will have 290,936,331 ordinary voting shares in issue. It is intended that application will be made for the new A Ordinary Shares to be admitted to trading on AIM. Admission is expected to be on 4 December 2009. Enquiries:
David Wither, Chief Executive Officer Sitkow Yeung, Finance Director
Merchant John East Securities Limited (Nominated Adviser and Broker)
Seymour Pierce Limited (Broker to the Placing)
College Hill
About Sarantel Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets. www.sarantel.com This announcement is for information purposes only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice in any jurisdiction. MJES and Seymour Pierce, each of which is authorised and regulated in the United Kingdom by the Financial Services Authority, are acting exclusively for the Company and no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to clients of MJES or to clients of Seymour Pierce, or for providing advice in relation to the Placing. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The information contained in this announcement is not for release, publication or distribution, directly or indirectly, to persons in the United States, Australia, Canada, Japan or the Republic of South Africa or in any jurisdiction in which such publication or distribution is unlawful. The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or under the laws of any state of the United States. This announcement does not constitute an offer to sell or issue, or the solicitation of an offer to buy or subscribe for, securities in the United States, Australia, Canada, Japan or the Republic of South Africa or in any jurisdiction in which such offer or solicitation is unlawful and should not be relied upon in connection with any decision to acquire Placing Shares or other securities in the capital of the Company. There will be no public offer of Placing Shares in the United Kingdom or elsewhere.
Capital"
This information is provided by RNS The company news service from the London Stock Exchange END
IOEFFUFSSSUSELF More |
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| 10-11-09 | RNS |
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RNS Number : 2659C Sarantel Group PLC 10 November 2009 10 November 2009 Sarantel Group PLC Trading update for the year ended 30 September 2009 Sarantel (AIM: SLG; 'Sarantel' or the 'Group'), the leading manufacturer of revolutionary filtering antennas for mobile and wireless devices, announces a year end trading update for the 12 months to 30 September 2009. Revenues are expected to have grown by 55 per cent to £2.8m despite a challenging economy that has negatively impacted the consumer GPS sector. Although demand from larger GPS customers was lower, Sarantel's innovative antennas are being deployed in a much broader range of applications, with shipments to more than 300 customers through direct or indirect sales. Progress remains encouraging in high-value markets. Orders from Iridium have settled into a regular monthly pattern and there is good potential for Sarantel's new Iridium short-burst data antenna, which has already been shipped in production quantities to NAL Research and Solara Data. In its Q2 2009 report, Iridium reported a 60 per cent increase in short-burst data and this market provides an important growth opportunity for Sarantel. In the military market, Sarantel has announced a number of orders at the design, evaluation and production stages, where the primary concerns of clients are robust design and exceptional accuracy, both of which are key features of the GeoHelix GPS antenna. At 30 September 2009, the Group had cash balances of £0.9 million. As announced separately today, Sarantel has raised £2.25 million (before expenses) through a placing to fund sales growth and expansion. The Board remains confident of Sarantel's potential, particularly now that location-based services and augmented reality is becoming an increasingly important feature of many new consumer applications. The Board believes that such applications will highlight the need for the greater accuracy offered by Sarantel's antennas, when compared with alternative antenna technologies. Sarantel expects to publish its preliminary results for the year to 30 September 2009 in February 2010. Enquiries
Sarantel Group PLC
Sitkow Yeung, Finance Director
Merchant John East Securities Limited
Carl Franklin/Adrian Duffield About Sarantel Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications including hand-held navigation, personal and asset tracking, satellite radio and satellite phones. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets. This information is provided by RNS The company news service from the London Stock Exchange END
TSTCKKKQKBDDADD More |
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| 21-10-09 | RNS |
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RNS Number : 1225B Sarantel Group PLC 21 October 2009 21 October 2009 Sarantel Group PLC ("Sarantel" or the "Company") NOMAD Change of Name The Company announces that its nominated adviser and broker, John East & Partners Limited has changed its name to Merchant John East Securities Limited with immediate effect, as part of a group reorganisation which is scheduled to complete on 1 November 2009. Enquiries:
David Wither, Chief Executive Officer Sitkow Yeung, Finance Director
Merchant John East Securities Limited
College Hill
About Sarantel Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets. www.sarantel.com This information is provided by RNS The company news service from the London Stock Exchange END
MSCPUGBPUUPBGMU More |
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| 20-10-09 | RNS |
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RNS Number : 0455B Sarantel Group PLC 20 October 2009 20 October 2009 Sarantel Group PLC First production orders for handheld 2-way satellite communication device Sarantel Group PLC, (AIM: SLG, 'Sarantel'), a leading manufacturer of high-performance, miniature filtering antennas for mobile and wireless devices, has received its first production orders from NAL Research for Iridium's Next Generation Shout device ("NGS"). The NGS is a compact, handheld 2-way satellite communication platform which uses two separate Sarantel antennas, one for Iridium and one for GPS. The device has been primarily designed for government and military communications applications but it can also be used worldwide in consumer applications. The Board believes that this contract has the potential to benefit revenues materially in 2010 and 2011. David Wither, CEO of Sarantel, said; "This initial order is a notable development for us as the opportunity to work with NAL Research on this cutting edge programme is both very exciting and strategically important. The development of the NGS is a significant milestone in hand portable, two-way satellite communication. "Our technology is proving to be essential in helping NAL achieve its goals of reducing the product size, and still maintaining robust two-way satellite communication and GPS performance when the device is held in the user's hand." Ngoc Hoang, President NAL Research, said; "Sarantel's antenna technology enabled us to develop a truly revolutionary and compact, hand portable Iridium satellite communication device. NAL's customers demand innovation and performance and by working with Sarantel on the NGS programme we were able to deliver." Enquiries:
David Wither, Chief Executive Officer Sitkow Yeung, Finance Director
Securities PLC John East/Simon Clements
Carl Franklin/Adrian Duffield About Sarantel Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets. www.sarantel.com About NAL Research NAL Research is an independent, privately-held company, headquartered in the Northern Virginia metropolitan area. NAL Research provides advanced Iridium satellite modems and Iridium tracking terminals-from design through integration-for the defense, research and commercial sectors. These products are used globally in a wide range of applications including asset tracking, search and rescue, remote sensing and command/control of both ground and airborne platforms. NAL Research is an Iridium value-added manufacturer (VAM) and a value-added reseller (VAR). www.nalresearch.com This information is provided by RNS The company news service from the London Stock Exchange END
MSCILFSRILLALIA More |
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An idle moment looking back over past posts on this board brought me to "Woracle" and (if you follow the thread) to this 2006 posting.
Woarcle and other posters seem to have sussed the flaws in this company - and are worth a read to compare their thoughts with what has actually happened. Cliff More | View thread (2) | Respond | Login to Vote up | Login to Vote down |
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| 30-10-09 | ||||
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The company is burning £230k per month,with £2.2 m cash left at end march 2009,unless revenue increases sharply,otherwise every chance there will be a need to raise cash to keep business going soon.
Good product drag down by poor managment..................LOL!!! More | View thread (2) | Respond | Login to Vote up | Login to Vote down |
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| 29-10-09 | ||||
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As I understand it the AGM is in January.The picture may be
brighter then. More | View thread (2) | Respond | Login to Vote up | Login to Vote down |
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| 28-10-09 |
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The knowledgeable posts on this board suggest that this is a "one day" company - and that day may not come anytime soon.
As I've spent a little while looking at the company I am sharing my "first thoughts". Looking at the accounts (Sep 08) and interim report (Mar 09) I am struck by the very inconsistent and low profit margins, the poor ratio of employees to turnover, that only 2 people were apparently employed on the sales and marketing function and the high management remuneration (for the size of company). It would appear that SLG is very dependent upon others adopting and incorporating its technology and though it capitalises development costs and writes off on the expectation of future sales, that seems to be the only indication of an optimistic outlook. The second half of the year to 30 September 2008 apparently showed about £250k gross LOSS and a net operating loss of about £2.8m on sales of £845k. So I concur with others who are waiting to see positive results before investing - the encouraging trend of the first half to March 2009 cannot be regarded as indicative of the future if the second half can be so volatile. It seems that 82% of the shares held by just 10 parties and I would guess that the current sp of 2.00/2.50p will not change significantly until a net profit is achieved (or a takeover [for the technology] is in prospect). Back of envelope calculations suggest the sales might have to be in the region of £11m to justify even the current price on an earnings basis - or getting on for 6 times last year's turnover. And that level of trading would surely require further financing until it became cash generating. Innovation is to be admired but there seems to be a serious commercial issue - I hope that the Board can resolve it but as a stand alone company it looks like a long uphill battle. These are just my initial thoughts arising from a brief review and may not be accurate in every respect - as ever, DYOR. Cliff More | View thread (6) | Respond | Login to Vote up | Login to Vote down |
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