News blog
CDialogues
- BY: Andrew Hore |
- POSTED: 16/08/2016 |
CDialogues is selling its trading business to its main customer and will distribute the cash to its shareholders after it cancels its AIM quotation.
Cyprus-registered Telilea provides marketing services for mobile phone companies and it built up a customer base in the Middle East prior to the CDialogues flotation in June 2014. This year contracts are likely to be terminated by client Numbase so the business may have no revenues after the end of September because of the difficulty of winning new contracts.
Telilea will distribute its cash of just short of €2.9m to CDialogues, which will receive €840,000 from the disposal to Numbase.
It may cost €300,000 to wind down the company and that should leave up to €3.9m in cash. That should equate to more than 50p a share, depending on the exchange rate. This also depends on whether there are any warranty claims.
When it joined AIM, the company raised £1.25m at 212p a share and the market capitalisation was £13.2m.
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