We tipped these folks last year in our Top 10 companies to watch in 2008…
Can you believe it? A UK (Cambridge) based technology company with world beating technology !!! Yes it’s true … With their modular ITrans digital screen display … These guys spent millions on manufacturing capacity but nothing on sales and marketing … I predict seeing ITrans screens everywhere in 2008.
Well unfortunately like many AIM listed companies they have struggled on the markets but today, as reported earlier, they raised a further UK PDS 1.3 Million in financing.
We are pretty sure also that Vision Media Group have raised a similar sum – probably just a little bit more with UK PDS 1.5 Million which will probably be announced next week in a long overdue trading statement from them.
The point of writing here is to re-iterate once again that there is investment funding about
Screen Technology’s investment is primarily coming from an Amsterdam-based conglomerate called Scaent Holdings Cooperatie UA – some of its directors and officers have agreed to subscribe to an issue of 121.2 million of the shares at 0.66 pence each, to raise up to 800,000 pounds. Scaent itself has also invested 200,000 pounds through subscription for the loan notes, making Scaent a major shareholder and partner in the company.
Tom Jarman, Chief Executive, commented: “This is a very important step forward for the Company and I am delighted to welcome Scaent as a major Shareholder and partner. It is clear that Scaent have great ambitions for the Group and the resources to support the business as it achieves success; this can provide the Company with the stability and backing to capitalize on its global opportunities albeit over longer timescale than originally envisaged. Finally, we have been able to maintain good relationships with a number of international marketing and manufacturing partners and are well positioned to implement our highly scaleable business model over the coming year.”
Introduction to Scaent
The Scaent Group is an Amsterdam based conglomerate that conducts business in more than 12 countries and across two continents. Scaent currently employs over 2,600 personnel in various locations across the world. Its core business is conducted within the energy industry and includes; electricity trading, generation and distribution, analytical and forecasting provision, coal exploitation and trading.
Following five years of growth with a focus on the energy sector Scaent is now seeing to diversify its activities through various investment projects Scaent is pursing opportunities in various sectors including energy, construction, property, IT industry, utilities and public services, construction materials, mineral and mining exploration, consumer goods and retailing, telecommunications and manufacturing.
As part of this investment initiative Scaent believes that it will be able to introduce appropriate acquisition and investment opportunities to the Company to broaden and diversify the Company’s current activities for the benefit of both the Company and Shareholders. Scaent has no specific proposals at this time but will work closely with the Company’s management, in pursuing such opportunities.
When we know more about VMG’s million pound investment next week we will write further on the subject of fund raising.