Director / PDMR Shareholding

Wednesday, 01 December 2010

SimiGon today announces that on 30 November 2010, Mr Ami Vizer, a Director of the Company, acquired a total of 416,807 ordinary shares of 0.01 NIS each in the Company (“Ordinary Shares”) at a price of 5.12p per share, which were previously held by SimiGon in treasury.  

Following this transaction, SimiGon no longer holds any Ordinary Shares in treasury. Mr Vizer is now the beneficial owner of 3,854,098 Ordinary Shares, representing 9.26 per cent. of the total issued share capital of the Company.

SimiGon Ltd
Ami Vizer, Chief Executive Officer
Efraim Manea, Chief Financial Officer +972 (9) 9561 777

Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke +44 (0)20 7071 4300

View complete announcement on London Stock Exchange Website


Interim Result for the six months ended 30 June 2010

Tuesday, 28 September 2010

SimiGon Ltd (together with its subsidiaries “SimiGon” or the "Company"), a global leader in providing simulation solutions, announces its interim results for the six months ended June 30, 2010.

Financial Highlights  

Operational Highlights

Ami Vizer, Chief Executive Officer of SimiGon stated: "Although our results for the six months ended 30 June 2010 were below our expectations, they reflect the challenging economic conditions and the industry’s normal seasonality. However, we continue to be successful in growing our markets and primary partners. We are excited by the activities of our customers in this period, and believe that, existing programs such as the F-35 Lightning II Joint Strike Fighter, as well as the UK's Military Flying Training System will positively impact SimiGon’s revenue in the next 12 months. SimiGon is maintaining its focus on the development of our next generation products whilst having effective expense controls, and the Company continues to make significant progress in this regard. The Company's market position remains strong as a leading training and simulation supplier in the world's top pilot training programmes and our partnership-oriented business model, sound technology and unique products provide a solid growth platform for the company.”

SimiGon Ltd
Ami Vizer, Chief Executive Officer            +972 (9) 9561 777
Efraim Manea, Chief Financial Officer

Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke                        +44 (0)20 7071 4300

Overview

SimiGon has established a leading position in the market of PC-based training and simulation solutions, as a preferred supplier of training and simulation technologies for the world’s largest military flight training programmes. The Company's reconfigurable SIMbox technology platform can be used for all types of training, across all domains. The Company expects to leverage its core product SIMbox to increase market share in its existing markets and create solid foundations in new markets.

SimiGon is extremely pleased that SIMbox had been selected by Lockheed Martin as a Learning Management System for the F-35 Lightning II Joint Strike Fighter training program. In addition to this business relationship, Lockheed Martin has chosen SimiGon to provide simulation training for the UK's Military Flying Training System. These programs increase SimiGon's development capabilities, providing further affirmation of the viability of SimiGon’s training solutions.

SimiGon is continuously examining and evaluating the potential to penetrate other commercial markets, to provide learning and training simulations using its advanced technological infrastructure. SimiGon is leveraging its success with existing blue chip customers to effectively attract new partners and customers and is regularly approached by leading organizations from the training and simulation market worldwide seeking to use SimiGon’s technology.

Financial Performance

Revenue for the six months ended 30 June 2010 was $1.14 million as compared to $1.82 million for the six months ended June 30, 2009. Gross profit for the six months ended 30 June 2009 was $0.76 million as compared to $1.32 million for the six months ended June 30, 2009.

Research and development expenses decreased to $0.92 million as compared to $0.97 million for the six months ended June 30, 2009. Marketing expenses for the six months ended June 30, 2010 increased to $0.71 million as compared to $0.69 million for the six months ended June 30, 2009 and general and administration expenses the six months ended June 30, 2010 decreased to $0.72 million as compared to $0.99 million the six months ended June 30, 2009 mainly due to lower salary expenses and doubtful debt provisions. As a result, total operating expenses for the six months ended 30 June 2010 were $2.35 million, a decrease of 11.32% as compared to $2.65 million for the six months ended June 30, 2009.

The operating loss for the six months ended 30 June 2010 amounted to $1.59 million as compared to $1.32 million loss for the six months ended June 30, 2009.

The financial income for the six months ended 30 June 2010 decreased to $0.01 million as compared to $0.17 million loss for the six months ended June 30, 2009 mainly due to the currency exchange rate. The financial expenses for the six months ended 30 June 2010 decreased to $0.10 million as compared to $0.15 million for the six months ended June 30, 2009.

The net loss for the six months ended 30 June 2010 amounted to $1.68 million as compared to $1.30 million for the six months ended 30 June 2009.  This resulted in a net basic and diluted loss per share for the six months ended 30 June 2010 of $0.041 as compared to $0.034 basic and diluted earnings per share for the six months ended 30 June 2009.

AAs of 30 June 2010, SimiGon had cash and cash equivalents of $2.28 and short term deposits in the amount of $0.19 million.

As of 30 June 2010, the Company had 41 employees, as compared to 47 employees at 30 June 2009.

Outlook

The Directors have a positive outlook following the Company’s success in providing PC-based training and simulation systems in various large scale military aviation training programmes, together with the increased level of new and existing customer interest and existing programs such as the F-35 Lightning II Joint Strike Fighter (JSF) as well as the UK's Military Flying Training System, as these projects are expected to continue generate revenue for the Company. The Company continues to make significant progress in its next generation of products and will continue to reduce its expenses in support of a positive cash flow in the near future.

View complete announcement on London Stock Exchange Website


Result of AGM

Monday, 20 September 2010

The Company announces that at the Annual General Meeting on Monday 20 September 2010, all the resolutions were duly passed.

Enquiries:  

SimiGon Ltd
Efraim Manea, Chief Financial Officer +972 (9) 9561 777

Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke +44 (0)20 7071 4300

View complete announcement on London Stock Exchange Website


Annual Report and Accounts and Notice of AGM

Monday, 16 August 2010

SimiGon today announces that the Annual General Meeting of the Company is to be held at 1600 hrs local Israeli time (1400hrs GMT) on Monday 20 September 2010 at 1 Sapir St, Herzlia, Israel.

Shareholders are welcome to attend the meeting in person or join via a conference call using the dial-in details below:
International dial-in number: +1 712 432 1620 Access code: 888780#  

The Notice of AGM will shortly be posted to shareholders. An electronic copy of the  Notice of Annual General Meeting document is available at the Company's website.

Click here for the AGM 2010 Proxy

Click here for the SimiGon 2009 Annual Report.

Enquiries:  

SimiGon Ltd
Efraim Manea, Chief Financial Officer +972 (9) 9561 777

Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke +44 (0)20 7071 4300

View complete announcement on London Stock Exchange Website

 

Directorate Change

Friday, 30 July 2010

SimiGon announces that Haim Yatim, Chief Financial Officer (CFO), will be leaving the Company by the end of October to pursue other interests and has resigned from the Company’s Board with immediate effect.

Efraim Manea will take over Mr Yatim’s responsibilities as CFO and has been appointed to the Board with immediate effect.

Mr Manea, aged 32, joined the Company as its finance controller in June 2008, managing its financial aspects including financial reporting, corporation accounting and tax preparation, budget and forecasting and risk management.  He has more than seven years of accounting and management experience and before joining SimiGon served for approximately four years as an Audit Team Manager at Ernst & Young's High-Technology sector.  Mr Manea is a Certified Public Accountant and holds a BA in Accounting and Business Administration from the College for Management in Israel.

The Board expresses its gratitude to Haim Yatim for his service to SimiGon and wishes him well in the future.

No other information in respect of Mr Manea’s appointment is required to be disclosed under Schedule Two (g) of the AIM Rules.    

30 July 2010

Enquiries:  

Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke - +44 (0)20 7071 4300

View complete announcement on London Stock Exchange Website

 

Annual Report and Accounts

Thursday, 29 June 2010

SimiGon today announces that the Annual Report & Accounts for the year ended 31 December 2009 has been posted to shareholders. An electronic copy will be shortly available on the Company's website.

View complete announcement on London Stock Exchange Website


Preliminary Results for the year ended 31 December 2009

Thursday, 29 April 2010

2009 revenues increased by 17.77% YoY to $6.06 million;
Net Profit of $0.07 million and EPS of $0.002;

SimiGon Ltd (together with its subsidiaries "SimiGon" or the "Company"), a global leader in providing simulation solutions, announces its preliminary results for the year ended 31 December 2009.

Financial Highlights

Operational Highlights

through Full Mission Simulator capabilities, for organizations seeking to improve their training, training management and increase operational readiness. The powerful physics engine with the improved capabilities and performance for simulation, position the SIMbox LMS as a leading application.

Ami Vizer, President & Chief Executive Officer of SimiGon stated "Despite a tough year for the world economy we finished 2009 in profit as we grew our revenues, reduced our expenses and cash burn with a current backlog increase to $4.1 million".
Mr. Vizer continued: "We continue to be successful in growing our main markets and primary partners. We are encouraged by the increase in strategic customers during this period, and believe that existing programs such as the F-35 Lightning II Joint Strike Fighter (JSF), the UK's Military Flying Training System, the academic training center of the European customer, and successful implementation of our systems in the Unmanned Aerial Vehicle domain will continue to positively impact SimiGon's revenue in the future. Our partnership-oriented business model, sound technology and unique products have proven to be a successful growth platform for the company.".

Overview

As a provider of advanced PC-based training and simulation technologies for the world's largest military flight training programmes, SimiGon has become a formidable player in the market of PC-based training and simulation solutions. The Company's reconfigurable SIMbox technology platform can be used for all initial, recurrent and operational requirements, across all domains such as air, land and sea, and industrial. The Company will continue to leverage its core product, SIMbox, to compete for more programs in its existing markets, as well as compete in newer markets such as maritime, and industrial operations training. SimiGon is extremely pleased to have been chosen as the Simulation Based Training partner for the new academic training center of a strategic European customer. Under this project, the European customer will be using our technology the way it was designed to be - network centric, personal and dynamic hi-fidelity training systems for each trainee. We are confident this program will demonstrate the viability of the SIMbox technology platform and our business model. SimiGon is fully committed to the success and growth of this important strategic partnership. We see this contract as a first step in a long term, mutually beneficial relationship for both companies. The selection of SimiGon as the Simulation Based Training partner of the European customer and the selection of the SIMbox Learning Management System for the F-35 Lightning II Joint Strike Fighter training program by Lockheed Martin, together with winning the Contract with Lockheed Martin for the Advanced Jet Training phase of the UKMFTS, is helping SimiGon in developing and providing further affirmation of the viability of its training solutions [and it continue to impact SimiGon to additional several significant partners]. These new partnerships serve to strengthen SimiGon's foundations, providing further affirmation of the viability of SimiGon's training solutions and will further fuel the Company's expansion.

Financial Performance

Revenues for the year ended 31 December 2009 increased by 17.77% to $6.06 million, as compared to $5.14 million for the year ended December 31, 2008. In terms of regional breakdown, 52.85% of SimiGon's revenues for the year ended December 31, 2009 were generated from North America, as compared to 58.55% for the year ended December 31, 2008. Total revenues of 44.46% for the year ended December 31, 2009 were generated from Europe and the Middle East as compared to 31.73% for the year ended December 31, 2008. Total revenues of 2.69% for the year ended December 31, 2009 were generated from the Far East, as compared to 9.72% for the year ended December 31, 2008. Research and development expenses for the year ended December 31, 2009 decreased by 27.75% to $1.83 million, as compared to $2.54 million for the year ended December 31, 2008. The decrease was primarily due to lower salary expenses. Sales and marketing expenses for the year ended December 31, 2009 decreased by 11.64% to $1.61 million, as compared $1.82 million for the year ended December 31, 2008. The decrease was mainly due to lower salary expenses. General and administration expenses for the year ended December 31, 2009 decreased by 15.31% to $1.57 million, as compared to $1.85 million for the year ended December 31, 2008. The decrease was mainly due to doubtful debt and legal expenses provisions. As a result, the total operating expenses for the year ended December 31, 2009 decreased by 19.31% to $5.01 million, as compared to $6.21 million for the year ended December 31, 2008. The operating profit for the year ended December 31, 2009 was $0.07 million, as compared to operating loss of $2.06 million for the year ended December 31, 2008. Net profit for the year ended December 31, 2009 amounted to $0.07 million, as compared to total loss of $1.98 million for the year ended December 31, 2008. That resulted net basic and diluted earnings per share of $0.002 for the year ended December 31, 2009, as compared to net basic and diluted loss per share of $0.050 for the year ended December 31, 2008. As at 31 December 2009, SimiGon had cash, cash equivalents and deposits in the amount of $2.56 million, and current maturities of short term bank loan of $0.9 million. As at December 31, 2009 the Company had 42 employees, as compared to 47 employees as at December 31, 2008.

Product Development

Outlook

The increased level of new and existing customer interest together with existing programs such as the new European customer academic training center, the F-35 Lightning II Joint Strike Fighter as well as the UK's Military Flying Training System, reflect a positive outlook. These projects will impact SimiGon's revenue and help to secure other contracts that are expected to be closed in the future. The Company will seek to continue to make progress in its next generation of products and to remain profitable in the near future.

Following SimiGon's success in providing PC-based training and simulation systems in various large scale military pilot training programmes, the Board is confident in the Company's outlook as it is well positioned for long term growth.

View complete announcement on London Stock Exchange Website


Grant of Share Options

Tuesday, 2 February 2010

SimiGon Limited announces that Ami Vizer and Haim Yatim, both directors of the Company, have been granted 360,000 and 141,000 options over ordinary shares of 0.01 NIS each ("Ordinary Shares"), respectively. The options over Ordinary Shares are exercisable at a price of 0.01 NIS (being the nominal value of the Ordinary Shares), as part of the Company's Bonus plan upon achievement of performance targets in respect of 2010, 2011 and 2012 financial years and in certain other specified circumstances. Following this grant, Mr. Vizer and Mr. Yatim will hold 410,000 and 355,500 options over Ordinary Shares, respectively.

The grant of options to Haim Yatim is subject to shareholder approval at the next Annual General Meeting of the Company.

View complete announcement on London Stock Exchange Website


Issue of Equity

Thursday, 21 January 2010

Further to the announcement on 30 December 2009, the Company announces that application has been made for 119,727 ordinary shares of 0.01 NIS each in the Company ("Ordinary Shares") to be admitted to trading on the AIM market of the London Stock Exchange ("Admission").

TThe new Ordinary Shares rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on 26 January 2010. Following Admission, the director's holdings in Ordinary Shares will be as disclosed on 30 December 2009. The Company will have 41,642,283 Ordinary Shares in issue following Admission .

View complete announcement on London Stock Exchange Website

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