Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Pipex Communications (FFG)

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Monday 09 August, 2004

Pipex Communications

Acquisition & Trading Update

Pipex Communications PLC
09 August 2004

9 August 2004

                            PIPEX Communications plc

              Acquisition of Nildram and Half-Year Trading update


PIPEX Communications plc ("PIPEX"), the telecoms network operator and provider
of broadband and hosting solutions, announces the acquisition of AccentUK
Limited, which trades as Nildram, one of the UK's leading independent broadband
internet service providers. The acquisition will add approx 35,000 new ADSL
customers to the existing PIPEX base, taking the total number of broadband
customers to 162,000.


PIPEX announces that trading for six months to June 2004 has gone well with
particularly encouraging monthly broadband connection numbers. The integration
of the Host Europe acquisition is also going according to plan.


PIPEX has acquired Nildram for a total consideration of £12.9 million in cash,
funded out of PIPEX's debt facilities with the Bank of Scotland.  Nildram is an
Internet Service Provider focusing on providing network application services and
related products to businesses and broadband to both business and residential
customers in the UK. At the end of July 2004 Nildram had approximately 35,000
broadband customers, of which an estimated 30% are business customers.


Nildram is both profitable and cash generative. During the year ended 31, March
2004 Nildram's audited turnover was £14.1 million and audited EBITDA was
£366,563. The value of Nildram's net assets as at 31 March 2004 was £323,219.
Over the last 12 months Nildram has grown substantially, benefiting from the
increasing demand for broadband.  Nildram has an 8 year track record as an
independent ISP and has built up a loyal customer base.


PIPEX has acquired six companies since the acquisition of GX Networks in October
2002 and has successfully demonstrated its ability to realise synergies and
achieve cost savings, while also focusing the business on growth areas in the
telecommunications sector, namely broadband and shared hosting.


Peter Dubens, Chairman of PIPEX, said: "The acquisition of Nildram further
strengthens PIPEX's position as a leading UK provider of broadband services and
takes the total number of broadband customers to 162,000.  We continue to focus
on our strategy of growth through both organic and acquisitive means, through
opportunities which provide a clear strategic fit. The success of this strategy
is demonstrated by the growth of our total customer base from approximately
12,000 customers in 2002 to over 350,000 customers today and a significant
improvement in gross margin."


Mike Read, CEO of PIPEX, said: "The integration process of PIPEX since the
latest acquisition of Host Europe is progressing well. In addition to its
substantial customer base, Nildram fits extremely well within our current
framework and brings with it strong product development expertise that will add
further strengths to the group going forward."


Sean Stephenson, MD of Nildram, said: "This transaction is extremely positive
for Nildram.  By joining PIPEX, Nildram will be able to achieve the scale
required for stronger, more profitable growth."


Stuart Gibson, Head of Telecoms for Bank of Scotland Corporate said: "We are
delighted to be able to continue to support PIPEX Communications plc in their
acquisition of Nildram. Growth in broadband internet access is presenting new
opportunities and changing the way many of us work. This transaction further
strengthens their position in this fast moving sector."


                            Half Year Trading update


PIPEX's broadband division continues to experience good growth and remains the
fifth largest supplier of ADSL broadband in the UK.  For the first half, the
monthly run rate for customer acquisition increased from 5,000 in December 2003,
to just under 8,000 in June 2004 and we expect broadband customer acquisition to
continue to go well in the second half.  Encouragingly, the ARPU per customer
has remained constant for the period at approximately £23.00.


PIPEX will launch its first Voice over Internet Protocol ("VoIP") to SME
customers in the fourth quarter of 2004.   PIPEX is also exploring avenues to
maximize revenue from its wireless division which includes an exclusive 3.6 to
4.2 GHz national wireless license. This license currently delivers broadband to
PIPEX customers in places where BT has not equipped the exchanges.


The Group remains EBITDA positive and operationally cash generative and the
gross profit margin continues to improve on last year.  We expect a continuing
strong performance from broadband and shared hosting, assisted by the ongoing
growth in these markets.  This leads us to expect a solid performance for the
second half of the year.


                                     -ends-


PIPEX Communications plc                                           020 7766 6909

Peter Dubens, Chairman


Investec Investment Banking                                        020 7597 5051

Chris Godsmark


Financial Dynamics                                                 020 7831 3113

Juliet Clarke / Edward Bridges


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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