XN Checkout Holdings PLC
11 June 2005
Press Release 13 June 2005
XN Checkout Holdings Plc
Caffe Nero chooses XN Checkout EpoS
After extensive trials and pilot installations Caffe Nero have chosen XN
Checkout Holdings Plc (AIM:XNC), a market leader of Electronic Point of sale ('
EPoS') solutions to the leisure, retail and hospitality markets to provide an
estate wide EPoS system.
XN Checkout are providing their latest WEB based Hospitality EPoS technology
which includes sales, promotions, stock and real time business alerts and
reporting. The Contract, is worth an estimated £3 million over the next five
years. The rollout commences in June 2005 and will carry on into next year.
Caffe Nero is currently the largest independent coffee retailer in the UK with
over 220 stores stretching from Brighton to Glasgow. To date the company has
grown at the rate of over 40 stores per annum.
The web based installations provide Caffe Nero with rapid sales EPoS systems
through colour touch screen terminals, as well as stock and outlet reporting.
Gerry Ford, CEO and Chairman of Caffe Nero said: 'We have had a long quest to
find the right EPoS solution from the right partner to support the growth of our
business. XN Checkout have provided the understanding of our business and
tailored their system to help us meet our business goals. Having a system that
supports our customer service, particularly with our peaks in trade whilst
providing real time data was always going to be a challenge, which XN Checkout
Ed Dayan, CEO of XN Checkout said: 'We are delighted to have been chosen by
Caffe Nero as their EPoS partner. Their requirements are challenging and we have
demonstrated the quality of our team to understand our customers business and
the benefits that accrue from our web based solutions. Caffe Nero are a dynamic
and highly successful business which we are proud to be associated with.'
XN Checkout is subject to a Recommended Offer by Evolution Securities Limited on
behalf of Torex Retail Plc for the entire share capital of XN Checkout Holdings
Plc as announced on 10 June 2005. On behalf of Torex Retail, Evolution will
offer to acquire all of the XN Checkout Shares on the following basis:
for each XN Checkout Share 2.547 New Torex Shares
and so in proportion for any other number of XN Checkout Shares held. Based on
the Closing Price of 104p per Torex Share on the business day immediately prior
to the date of this announcement, the Offer values each XN Checkout Share at
approximately 264.9 pence. This represents a premium of approximately 8.6 per
cent. over the middle market price of an XN Checkout Share of 244p at the close
of business on 3 June 2005, being the last business day before the announcement
on 6 June 2005 that it was in bid discussions.
For further information:
XN Checkout Holdings Plc
Ed Dayan, Chief Executive +44 (0) 1582 869 610
Daniel Stewart & Co.
Ruari McGirr Tel: +44 (0) 20 7374 6789
Ariane Comstive / Henry Harrison-Topham Tel: +44 (0) 20 7398 7700
Notes to editors
XN Checkout Holdings plc
XN Checkout is the market leader for EPOS hardware and software solutions into
the UK managed pub and bar sector, with over 4,000 systems installed. The
Company has been successful in broadening its target markets to include
restaurants, hotels, retail shops and gaming hardware and software solutions.
Co-founded in 1982 by the chief executive Ed Dayan, the Company created the
first touch-till system for a pub and has over 20 years' experience of
manufacturing hardware and developing software solutions for the EPOS market,
resulting in XN Checkout technology remaining at the forefront of the industry.
The Company's technology is now being used in the hotel, gaming, retail and the
fast-growing SME hospitality sectors.
As an innovator of web-based EPOS systems, XN Checkout benefits from
long-standing client relationships with leading leisure and hospitality
businesses including Mitchells & Butlers, Wolverhampton & Dudley, the Spirit
Group, Young's and Stena Line. More recent customers include Cafe Rouge, The
Paramount Group of Hotels, and Gala Group. The Company employs 178 people, is
based in Dunstable, Bedfordshire and has offices in Singapore, Malaysia, South
Korea, Australia, South Africa, the USA and Germany.
For further information please visit www.xncheckout.com
Caffe Nero Group Plc
Caffe Nero Group Plc was founded in 1997 when five sites were acquired by a
syndicate of investors. The name Caffe Nero was retained for the original sites
but an entirely new brand was created centering around an authentic European
coffee house concept and serving gourmet quality coffee and deli food products.
Caffe Nero is currently the largest independent coffee retailer in the UK, with
over 220 Caffe Nero stores from Brighton to Glasgow.
This information is provided by RNS
The company news service from the London Stock Exchange