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ShareProphets RNS Translation Service: Ultima Networks – Placing, Disposal, Restructuring

As predicted HERE in the wake of after-hours interims from the company on Wednesday, shareholders in AIM cesspit dog Ultima Networks (UTN) plc are to be treated to a placing. Gotcha. In fact it is rather more than that, as an RNS issued yesterday (mercifully, at the usual 7am) details proposals to be put to an EGM under which the business is to be disposed of into a private company and the plc restructured into an investing company – the last refuge for failed sub-scale ventures on the Casino. With the shares having closed at 0.25p on Thursday a placing at 0.7p seems somewhat generous, does it not? But then, as we all know, if it looks too good to be true…..step forward the ShareProphets RNS Translation Service to help our understanding of what is going on.

By Nigel Somerville, the Deputy Sheriff of AIM | Published 2015-09-26 02:33:01 |

Ultima (#UTN) to sell shite existing business, raise £750k at 0.7p become a shell

2015-09-24 23:20:10

Red Flags at Night - Ultima Networks Interims: when’s the placing?

Issuing interims at no-one-is-watching o’clock this evening (at 5.11pm) is AIM-listed Ultima Networks (UTN). A few hum drum bits and pieces – turnover down about 10% and not a lot of cash in the bank didn’t make particularly happy reading. But surely not bad enough to slip out the statement after-hours, was it?

By Nigel Somerville, the Deputy Sheriff of AIM | Published 2015-09-23 23:42:15 |

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Recent Comments

TOM10 Nov 2026

no she is either desperate enough to accept any gig or not very good at doing DD. Either is in my view a red flag but you know better as you have all the way down

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

DUCKnDIVE10 Nov 2026

I get it now. She's dodgy because she didn't read your articles. On the upside, she probably still isn't reading them.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

TOYIN10 Nov 2026

I agree Cellular Goods is a fair point to raise but you are throwing the baby out with the bath water, poor judgement, yes, bad NED, not necessarily. We all make mistakes, she deserves a chance before you throw her under the bus, her experience in the sector says so.As for group think, I would not be happy with that on the BOD but again you are just speculating, wait for proof.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

DUCKnDIVE10 Nov 2026

Clutching at straws. She clearly has over 25 years of relevant experience with a blue chip company and has been appointed for her commercial nous. She has sat on several boards and she is will be an asset on mine.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

TOM10 Nov 2026

The record of Cellular Goods and of Bixby/Edwards was flagged up on thus website well before Gill joined and as such joining shows a spectacular lack of judgement /desparation and that is pertinent. How many SCPs foes P&G have BTW?You may be happy with GroupThink on a board but as BP showed that is a recipe for disaster. I am throwing back at those who have demanded diversity a demand for diversity!

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

TOYIN10 Nov 2026

I think this article does the new NED a considerable disservice and confuses political and demographic diversity with commercial competence and diversity of thought.The Cellular Goods connection is a fair point to raise, and her contribution there deserves scrutiny. However, suggesting that simply accepting a NED position at a company that subsequently failed means she has "no standards" is an extraordinary leap. Where is the evidence that she was responsible for, or failed to challenge, the decisions behind its problems?Why ignore her other 26 years at Procter & Gamble? As a Senior Vice-President, she had responsibility for major international brands including Olay, Pantene and Always. That is substantial experience in brand building, marketing and commercial execution.Surely that's exactly the sort of experience SBTX needs, particularly given my concerns about AxisBiotix and the company's wider commercial performance?I also disagree that a predominantly female Board automatically lacks diversity of thought. Different professional backgrounds, experience and the willingness to challenge assumptions matter far more than someone's sex, skin colour or political beliefs.Ultimately, I don't care where the directors went to university or what their politics are. I care whether they can deliver.Can Rachel improve performance, can Gill help unlock the commercial potential of the business, and can Alyson restore confidence in governance? Gill's appointment guarantees nothing, but based on her career I think SBTX has made a very good appointment.Let's judge the Board on results, not demographics or presumed political beliefs.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

TOM10 Nov 2026

Really, this woman has sat on 1 plc board and it was a bixby edwards con and you berate me for flagging that up?

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

DUCKnDIVE10 Nov 2026

Scraping the bottom of the barrel now… "'Tis but a scratch" springs to mind. Each positive Skins RNS cuts off another of your limbs. Only when you are just a torso will you give up and call for a draw.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink

Sohail10 Nov 2026

We have to accept that “society” produces what society wants in every age.I note in my age group a constant desire to reproduce what we were used to.However there is a complete failure to grasp that the next generation do not want a continuation of what has gone before.As for skins we await results and guidance.

Skins NED appointment – not very diverse & comes with a Bixby Edwards stink