News blog

Clarity Commerce Solutions

  • BY: Andrew Hore |
  • POSTED: 31/10/2011 |

Retail, hospitality and entertainment software provider Clarity Commerce Solutions says it has won a number of new contracts in the past five weeks and it hopes that this positive news will help to stave off the 23p a share contested cash bid from Enigmatic Investments.

At 27p a share, Clarity is valued at £11.2m.

Clarity is providing Cloud-based services to HMV, worth £250,000. Other new retail software orders have been won from fashion shoe retailer Dune and two Netherlands-based retailers. An electronic savings and smart couponing service is being piloted in Iceland stores. There has also been repeat business from existing customers.

Enigmatic’s owner BECAP Fund is keen to merge Clarity with another business it owns in the sector. Clarity is losing money but it has been profitable and could be on its way to returning to profit. The past disappointments from Clarity are likely to be one of the things that could make shareholders consider accepting a bid at this level.

Long-term shareholder and former director Bob Morton’s interests could be significant in the bid battle. Interests related to Morton own 21.2% of Clarity. Former Clarity boss Graham York still owns 8.4% of Clarity.

Clarity has talked of rival bids but none have materialised as yet.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf

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