Loqus Holdings plc
Loqus Holdings plc - Quote
|Closing Price (€)||0.140||Change (€)||0.000|
|TWAP (€)||0.000||No. of Trades||0|
|Day's High (€)||0.000||Change (%)||0%|
|Day's Low (€)||0.000||Turnover (shares)||0|
|E.P.S (€)||-0.026||Shares in issue (000)||31,899|
|P/E Ratio||0||Market Cap. (€000)||4,466|
|Gross Div. Yield (%)||0||Gross Dividend (€)||0.000|
|NAV per Share (€)||0.049||Indicative Div. Date||NIL|
|Price to NAV (times)||2.840||Dividend Cover (times)||0.000|
|2013 High (€)||0.147||2013 Low (€)||0.140|
Loqus Holdings plc - Profile
Loqus Holdings plc (previously Datatrak Holdings plc) was registered on 23 October 2000 as part of a restructuring exercise aimed at allowing the Datatrak Group of Companies to develop in all areas of its business, including foreign expansion. Loqus Holdings plc is a holding company and does not conduct any trading activities. All trading and commercial activities are undertaken by the company’s subsidiaries.
The Company’s predecessor was its subsidiary, Datatrak Systems Limited (DSL), which was established on 27 February 1998 by a group of Maltese investors in conjunction with Securicor International Holdings SA. DSL was formed with for the purpose of developing and operating in Malta the Datatrak technology that was developed by Securicor Information Systems (SIS) in the United Kingdom.
In August 1998 Datatrak Systems Limited obtained the license to operate the system by Securicor Information Systems (SIS) and was also granted dedicated frequency bands by the Ministry of Telecommunications. It launched its services to the public on 28 October 1999.
In May 2000, Siemens, one of the largest multi-national electronic and engineering companies in the world, acquired Securicor Information Systems from Securicor plc and was renamed Siemens Datatrak Location and Information Systems Ltd.
In September 2000, Datatrak Systems Limited (DSL) undertook a corporate restructuring exercise intended to drive its future expansion and development in Malta and overseas, as well as to consolidate its relationships with strategic partners. This restructuring programme consisted of:
- The establishment of Datatrak Holdings plc as a holding company; The purchase of a 50% shareholding in GeoMed Services Ltd which was renamed Datatrak Information Technology Services Ltd (DServ);
- The creation of another subsidiary, Datatrak MENA Ltd (MENA), to undertake overseas expansion, particularly in the Middle East and North African regions.
- The creation of Datatrak Solutions Ltd (DSIL) in 2003 as a 50% owned subsidiary responsible for the development of all software within the group, holding licenses for the various packaged solutions including, Datatrak OnLine, TrakIT, DispatchIT, VMS, RouteIT and genGIS.net.
In 2004, the Datatrak Group signed a three-year contract with Siemens VDO Trading Limited (UK) through Datatrak Solutions International Limited (DSIL) for the marketing of Datatrak On-Line, a web-based fleet tracking software. The Agreement was renewed for a further three years in October 2006.
In December 2007, Datatrak Holdings plc undertook a corporate restructuring in order to consolidate its most profitable activities as the core activities of the group. The restructuring process entailed Datatrak Holdings plc to:
- acquire the remaining shares of both Datatrak IT Services Ltd and Datatrak Solutions Ltd through its subsidiaries, namely: Datatrak Systems Ltd and Datatrak MENA Ltd respectively. The acquisitions were paid by issuing 15,949,500 shares at €0.30 to Joe Fenech Conti who became the majority shareholder in Datatrak Holdings plc with a stake of 50%
- conduct a one time non-cash write off valued at €5.6 million due to the impairments in the carrying value of the Datatrak network and on the development costs of the project in Nigeria.
The restructuring plan was agreed by shareholders on 4 April 2008.
In February 2012, Loqus announced its decision to put the Fleet-Management business unit up for sale by selecting a suitable strategic partner. Loqus explained that a potential major international entity in the mobility area could produce synergies in both the technical and marketing fields.
Subsidiaries and Jointly Controlled Companies
1) Loqus Services Limited (formerly Datatrak Systems Ltd) (99.9%): This company owns the Datatrak network in Malta and is responsible for fleet management in Malta and back-office processing.
2) Loqus Solutions Limited (formerly Datatrak IT Services Ltd) (94.04%): Datatrak IT Services Ltd was incorporated in 2003 and is a fully-fledged IT company responsible for the development of software, web based services and application service provision (ASP) for the group. The company operates closely with its sister company, DServ to provide a range of GIS-related services. This firm markets its products through Siemens VDO Trading Limited in the UK.
In 2009 Datatrek Mena Ltd merged with Loqus Solutions Limited. Datatrek Mena Ltd is the marketing and sales company with responsibility for the Middle East, African and South American Markets. It is responsible for selling networks to these regions as well as aggressively selling the products of Datatrak Systems Limited and Datatrak Solutions Limited. This Company has a shareholding in the following associate:
- Datatrak Nigeria Ltd – DNL (30%): Datatrak MENA has a 30% minority shareholding in DNL with the balance in the hands of Nigerian investors. DNL is undertaking marketing activities that will support Datatrak MENA enter the market in neighbouring countries in West Africa and to establish other Datatrak networks and similar systems using GPS, GPRS and Inmarsat technologies.
Loqus solution Limited has a 50.2% stake in Datatrak Italia S.r.l which is responsible for fleet management in Italy.
Loqus solution Limited owns 99.9% of Premier Post Limited which offers postal service business to the group.
3) Loqus Consulting Limited (formerly Datatrak Business Consultancy Limited) (75.0%): This subsidiary is responsible from the group’s consulting services.
4) Loqus UK Ltd (100%): This subsidiary is a limited company which was registered on 2 July 2009 in the UK with an authorized share capital of 1,000 shares of GBP 1 each and an issued share capital of 1 share, fully paid up. Loqus UK is responsible for the Fleet Management in the UK.
5) Datatrak IT Services Limited (50.2%): This subsidiary has been dormant since 1 January 2008 and did not carry out any trading activity during since then. Datatrak IT Services Ltd (DITSL) was incorporated in 2003 and was responsible for the development of the software, web based services and application service provision (ASP) for the group.
Datatrak Holdings plc was the first company to be listed on the Second Tier Market on 27 November 2000. Prior to the listing in November 2000, Datatrak’s issued share capital was €2,782,437 divided into 11,949,500 ordinary shares.
On 6 November 2000 Datatrak Holdings issued 4,000,000 ordinary shares of nominal value of €0.232937 each at a price of €2.3294 per share. As a result Datatrak’s issued share capital increased to €3,714,186 divided into 15,949,500 shares of €0.232937 each.
Following the acquisition of the shareholding in Datatrak IT Services Ltd and Datatrak Solutions Ltd, Datatrak Holdings plc issued 15,949,500 shares with a nominal value of €0.232937 at a price of €0.30. As a result Dataktrak’s issued share capital increased to €7,430,457 divided into 31,899,000 shares.
News for Loqus Holdings plc
Interim Directors’ Statement
Suspension of Trading
Interim Directors’ Statement
Loqus Holdings plc - Downloads
- Datatrak_Presentation_2008.pdf (3.4 MiB, 554 hits)
- Datatrak plc - Annual General Meeting Presentation August 2008 (1.9 MiB, 744 hits)
|Shares in Issue:||31,899,000|
|Listing:||Alternative Companies List|