RSS

ANV ties up Gordian reversal

Article Date:  Aug 05 2005 Elliott Davis


AIM-listed cash shell Gordian Investments has agreed to let 3G video conferencing specialist All New Video (ANV) reverse into it in a deal that could eventually be worth up to £10 million.

Gordian has agreed to pay an initial £4 million in cash and shares for ANV, with up to £6 million following depending on performance. Under the terms of the deal David Atkins and Chris Fairhall - ANV's erstwhile owners - will respectively assume the roles of chief executive and chief operating officer of the combined group. Gordian non-executive director David Barton will be the only member of the shell's board to retain his position.

On the decision to come to AIM via a reversal, ANV's David Atkins explains that 'I think we're poised for tremendous growth and the reversal gives us a great platform from which to build.'

ANV makes its money by providing a range of video services across mobile and fixed-line telecoms platforms, with a particular emphasis on video conferencing in the corporate market. Though still a relatively early-stage industry, Atkins predicts 'significant growth' in the 3G-phone market 'over the next 12 to 24 months' and reckons this should greatly enhance revenue streams. 'We've just reached breakeven,' he adds, â˜and turned over £300,000 in the year to March.'

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Get started with Barclays Business Banking

Choose from 3 great Start-up packages offering a range of business and banking solutions, from cashflow management software (QuickBooks or Sage) to VAT management solution. Plus, up to 2 years FREE banking (conditions apply). Apply online.

Secure early payment for your unpaid invoices with Simply Business

Simply Business works with a carefully selected panel of the UK's leading factoring and invoice discounting providers. Find out your cash flow options in minutes, you could have 90% of your invoices paid in 24 hours. To find out more click here

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: IPO & City News

Jeyes in £20 million refinancing

Hygiene product company Jeyes, which is part-owned by private equity firm LGV Capital, has secured an asset-based lending facility worth £20 million.

Growth companies to benefit from fundraising bonanza

As much as £300 million is expected to be raised this tax year for investment in growing businesses, according to fund managers.

Jaeggi to chair The Founders Club

A network of VC-backed entrepreneurs who agree to share profits from their exits has appointed private equity chief André Jaeggi as group chairman.

Advertisement

Related articles

AIM to Main: why bother?

Only a handful of companies a year move from AIM to the Main Market of the London Stock Exchange. We look at the implications of such a move and whether there are any tangible benefits.

Tough times for small companies, says Unicorn

Unicorn AIM VCT II has seen a net loss of just over £1.4 million for both its Ordinary Share Fund and the C Share Fund. Chairman Peter Andrews attributes this to tough market conditions for smaller quoted companies, where banks have tightened terms and investors are more risk averse.

August-TMN deal falls through

A planned acquisition of online direct marketing company TMN Group has fallen through after the would-be buyer failed to secure sufficient debt, according to a statement from TMN. August Equity, which offered 70p per share for the AIM-listed company in May, was ‘unable to secure sufficient third-party debt financing to support an offer acceptable to the board’.

Chinese VC in London float

A company formed to invest in growth businesses operating in China has raised US$25.38 million (£13.1 million) on AIM. Yangtze China Investment will invest in unlisted companies that it expects to benefit from rising spending by the expanding Chinese middle class.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Core beats fundraising forecasts

    Against an apparently unfriendly VCT fundraising environment, Core Capital has topped its £20 million fundraising target by tugging in an impressive £21.7 million for its fourth and fifth VCTs.

  • Schlumberger buys V.I.P.S

    Oilfield services company Schlumberger has bought reservoir geo-mechanics software and consulting company V.I.P.S for an undisclosed sum.

  • Jefferies in for Helix

    US investment bank Jefferies has also moved to increase its UK profile, through the acquisition of London-based Helix Associates. Helix acts as a placing agent for private equity firms and carries out a range of activities for its clients, with research and due diligence services among those offered.

  • Cape Lambert in £38m Timis deal

    Western Australia-based Cape Lambert Iron Ore is buying a 30 per cent stake in Sierra Leone’s Marampa iron ore project.

  • UK market appeal broadens

    Entrepreneurs never miss an opportunity, so it is little wonder that it is not just UK business leaders flourishing in the current market – their overseas contemporaries are also joining the party.

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More