Source: CMS Webview
On 27 July 2007 CMS WebView (CMS) announced that Ian Donald Williams and Anthony Peter McQueen Benedict of Benedict Mackenzie LLP, 62 Wilson Street, London EC2A 2BU ("the Liquidator") had been appointed as joint liquidators to the Company to administer a member's voluntary liquidation (MVL), a key factor of which is that the Company is solvent, which remains the case.
As previously reported in June 2007, the Company is open to corporate deal opportunities with companies that might find significant value in CMS's 'clean' balance sheet and its proven TDI data management product or in realising the value of CMS's intellectual property assets.
Specifically, discussions have taken place with companies that view a London Stock Exchange AIM listing, via means of being reversed into CMS, as an advantage and key stage to their future growth objectives. With the help and support of the Liquidator attempts are being made to identify a suitable business for such a reversal.
Should a suitable business be found for reversal into CMS, this would be subject to the approval by the shareholders of CMS at an extraordinary general meeting, which would be convened by way of a circular setting out full details of the business being reversed into the Company.
In addition to negotiations regarding a potential reverse of a business or company into CMS, discussions are also continuing to take place with organisations that may have an interest in the licensing rights (exclusive or otherwise) in CMS' proven data management product; TDI. The product, which is wholly owned by CMS, provides the collection, consolidation, processing, storage and controlled distribution of high volume, real-time data. Current and previous clients include blue chip organisations such as the Chicago Board of Trade, the London Metal Exchange and the Chicago Mercantile Exchange.
In response to the need for clients to maintain complete control over their mission critical data processing requirements TDI is provided with design and development tools. It can therefore be seen as a tool for accelerating delivery of IT development projects with a suite of "off the shelf modules". CMS also offers clients the opportunity to purchase source code for their own business use which, together with the design tools, provides full "operational ownership" of the product.