RSS

New Israeli AIM push

Article Date:  Jun 05 2006 Robert Tyerman


Israeli entrepreneur Shai Schiller intends to bring email innovator AxisMobile to AIM with a reverse takeover and £4 million placing. AIM-quoted cash shell CCO Capital, floated last year at 10p, is the chosen vehicle for Schiller, who used to head fully-listed video conferencing giant Emblaze.

Under the deal, CCO will consolidate its capital by substituting one new share for each 10 held, change its name to AxisMobile if shareholders approve and seek to raise £4 million with a placing at 60p.

Canadian-owned Canaccord Capital is to be nominated adviser and broker to the reincarnated AxisMobile, which was originally founded in Israel in 2000 and is now a leading player in consumer mobile e-mail. Described by analysts as 'e-mail mobiles for the masses', this technology gives consumers access to e-mail via mobile handsets.

AxisMobile, which lost a reduced £1.3 million last year on £1.1 million turnover, says its goal is to provide the software to 'drive the mass market adoption of mobile email and related products'. The company claims its email platform offers a 'one-stop shop' for consumer mobiles and reduces costs.

Schiller says an AIM listing will give AxisMobile 'access to the capital markets' and 'provide the resources to take advantage of the significant opportunities available to us'.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Recruitment strategies during a recession - Free guide

When a recession hits, or when your busy periods become less frequent, recruitment plans will undoubtedly be affected. To overcome this, all you need to do is alter your recruitment strategies. Download your free guide today.

Royal Mail can help your business grow

However you’re looking to grow – by finding new customers, developing your existing customers or by saving time and money – Royal Mail can help. Just spend a couple of minutes telling us about your company, and we’ll send you a tailored growth pack, designed specifically to help you grow your business. Get started.

TOTALCARD

The fuel card that gives you more. Be it local account cards or corporate fleet cards that you need, TOTALCARD is the right choice for your business. Apply Today!

Research

  • Directors' Pay on AIM 2008

    What is the average AIM company paying its chief executive? Who are AIM’s highest- and lowest-paid chief executives?

Global Technology Review 2008

Who are the world’s 200 most influential IT companies across sales, revenue growth, profits and net margins? Read more in the Global Technology Review 2008

Patent Landscape on AIM 2008

A comprehensive report on those AIM listed companies who have the most patent filings in the last two years.

More

Events Calendar

Investor AllStars 2009

23rd September, London Hilton, Park Lane

The CANACCORD Adams Media Magnate Awards 2009

26th March, Vinopolis, London

Rosenblatt New Energy Awards 2010

25th February, Natural History Museum, Cromwell Road, London SW7 5BD

More

More News: IPO & City News

Men still dominate AIM boards

Only 28 AIM CEOs are women

Women head just two per cent of AIM-listed companies, and only five per cent of financial directors on the market are female, research reveals.

Daisy joins AIM via reverse takeover

Business-to-business telecoms company Daisy Communications is to become an AIM-listed business following the reverse takeover of Freedom4 Group.

Government launches £1 billion VC fund

The UK government has created a fund to support early-stage technology companies via the venture capital (VC) industry.

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

Are you seeing green shoots?



Have your vote on current issues

People who read this also read

  • Attractive figures emerge from Chrysalis

    Chrysalis VCT, the trust that merged three VCTs into one, this week boasted of a ’very strong recovery’ since it became self-managed in April 2004, but admits the insubstantial £1.1 million raised before the end of the last tax year was ‘a disappointment’.

  • Hastings and Advantage MBO

    Insurance Australia Group has agreed to sell its UK market distribution business for £73.5 million as part of a restructuring strategy, which will enable the company to focus on its motor underwriting business.

  • Ex-Deloitte partner moves to Cobalt

    Cobalt Corporate Finance, an European corporate finance adviser, has recruited Chris Williams, former corporate finance partner and global head of TMT (technology, media and telecommunications) at professionals services firm Deloitte, as its newest partner.

  • The return of the hard sell

    Everyone hates a hard sell. It’s enough to make you turn down a good deal.

White Papers

15-Minute Guide to Collaborative Case Management

This particular guide focuses on an innovative approach to case management in the public sector - Collaborative Case Management (CCM).

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.

More

Take part in our competition and win a laptop

Growthbusiness.co.uk has teamed up with Insurantz.com to find out from you the secret of your business's longevity.

– Is it having a knack for hiring the right people or knowing that if you want something done properly, you need to do it yourself?

– Are you adept at reacting to changing market conditions and going the extra mile for your customers?

– Have you always had a keen eye for the numbers or made sure you have someone on board who does?

If your business has proven itself over a number of years, or if you know of a great local business and think it should be entered, then we want to hear about it!

A judging panel will draw up a shortlist of entrants for you to vote on to decide who will become the Growth Business Local Legend.

The winning company will receive computer equipment worth up to £500, plus £1,000 of business insurance (or free business cover up to an annual premium of £1,000 for larger businesses) all courtesy of our partners at Insurantz.com.

All shortlisted businesses will receive marketing collateral to promote your entry and encourage support from your customers and business associates. Everyone who enters the competition will automatically receive a 10% discount voucher code off insurance products bought from Insurantz.com.

To access the discount voucher code, please complete the survey.

At Insurantz..com, we encourage entrepreneurship, so start-up businesses are not charged extra when other insurers may decline or charge more. Insurantz.com offers a double-the-difference price guarantee on premiums where a better deal is found within 14 days of the cover start date.

Terms and conditions apply

Click here to enter the