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Any news?
They increased cash recently and said more receipts were incoming at start of year.
With cash on hand, back catalogue and growth ahead it’s likely to be a takeover at some point.
25-Jan-24 16:40:59 154.00 45,000 Buy* 153.20 154.00 69.30k O
Frontier Developments will host a new monthly showcase beginning next week, on 31st January at 6pm UK time, with updates on the what's next from the company.
Frontier Unlocked, as the showcase will be known, will look ahead at the coming year for the studio - so expect to hear more about Warhammer 40K: Chaos Gate - Daemonhunters' console edition, and what may be on the horizon for Elite Dangerous.
Also expecting to hear of an all-new project.
Frontier said at the end of last year that it would refocus on its sim game genre bread and butter after low sales of its Warhammer real-time strategy title Age of Sigmar: Realms of Ruin.
Frontier said it had three upcoming simulation games scheduled for launch over the next three financial years, and was committed to continuing to support Elite Dangerous.
Source:
https://www.eurogamer.net/frontier-developer-showcase-announced-for-next-week
In fact, considering the Gamesworkshop contracts, and the company IP, i think we could see this as a takeover target while the price is here, in which case we will be looking at over £240m or 600 per share.
Consolidation of staff complete.
and with the new gamesworkshop TV shows coming to Amazon, i would expect announcement of new games....
As evident from the gaming companies reporting today
Would suggest this becomes a buy on dips or buy on moves higher now
Turn of confidence here
Sorry
Can they avoid a placing in H2?
Encouraging update and first time in a while they've come inline with expectations, should settle some nerves. 20% cost reduction is significant, clearly they're slashing headcount which will stem cash outflow. With all the focus on underperformance of F1 manager and Warhammer titles good to see the back catalogue is still steady chugging away earning revenue.
I wonder if there is a bid around the corner??
Funny old market, probably the worst rns on the board today. Business looking very shakey, yet up 5% when others releasing good news are down. I guess the market expected results to be even worse
Can only be on the positive outlook
Market thinks different...we r up 2%
Horrendous results as looks like they would burn through cash balance in 6 months or so at this rate.
Today could be the day for this to move up
No,l don't think so..Very heavy director share buying after last trading update,so they are not expecting the SP to drop more.. Someone is selling down a stake it seems today after a 20% recent share rise..
Are the results going to be BAD, as the SP has been dropping lately!!
The 16:35 daily sale was today 52,261 shares. An all-time high if I remember correctly. Is anyone tracking this to project when Swedbank and Invesco's divestment will complete?
TinyBuild CEO underwrites capital raise
https://www.investorschronicle.co.uk/news/2023/12/21/companies-roundup-globaldata-shares-tinybuild-s-radical-fund-raise/
TinyBuild’s radical fund raise
Banks and other financial institutions often underwrite equiĵty raises so to give a guarantee to others taking part in the issue the whole transaction won’t fall apart. TinyBuild (TBLD) has gone for a more radical approach.
The video game developer has seen its balance sheet and market capitalisation crumble this year, with its share price falling 96 per cent. To keep operating it has announced a $10mn (£7.9mn) raise, almost double the current market cap, fully underwritten by chief executive Alex Nichiporchik. This is the same chief executive who sold £55.8mn in shares in the 2021 IPO. Shareholders may be more focused on the massive dilution and complete wipe-out compared to the IPO price of 169p a share.
Those same investors will have to support Nichiporchik taking up to a 59 per cent stake in the company through the raise, which will also dilute their holdings significantly. Atari is also putting $2mn into TinyBuild. The company, or its Nomad Berenberg, flagged the realities of the arrangement. “The ownership levels of the CEO may have the effect of delaying, deferring or preventing a change of control, merger, consolidation, takeover or other business combination or discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of the company, which in turn could harm the trading price of the shares,” TinyBuild said. AH
Any propective new investor sees the cause of those years of failure isn't lack of investment but lack of management. So he would not ask those responsible for commitment to stay, but commitment to leave. Remember this conversation was probably already had with incumbent investors Swedbank and Invesco. Management stayed, investors left and soon so did 80% of company value. Any new investor would foresee that the remaining investors who have already lost a pile at the hands of David Braben, Johnny Watts etc. would quit in despair and tank the new invetment share value if the announcement of this dilutive cash rescue came from the same clowns.
Again I could have been clearer in what I said. I wasn’t talking about insider trading. AFAIK they are not in a closed-period (big news closes trading for insiders) so any trading is unlikely to be seen as insider.
What I meant was, that there could have been a deal set up between Tencent and/or II’s and the Board of Frontier to survive the past 3 years of failures with new investment and that it requires a commitment from the board. This usually means an investment from directors, hence the buying on the 13th. It’s the sort of thing Private Equity does to ensure a commitment. Although I would expect the sums invested by the CEO and CFO to be larger. So I’m probably wrong about it anyway. They’ve only invested pocket-money. Just seems odd they all do it on the same day. I hope that clears up what I was saying.
If it turns out their next CMS game is F1whatever, the SP might be sub £1. DYOR.
We are talking about the directors that purchased and Mitchell did not.
Braben's stake did not prevent the last cash raise in same circumstances so should not prevent the next.
Current cash might suffice if the next game is on time and profitable, but since the last game was both very late and very loss-making, proceeding now without extra cash would be reckless in the extreme. Cash raise is needed ASAP because its cap is already down to £16m and further drop with the share price would render it insufficient to fund akother game.
Yank, to be fair if you look at the last annual report David Mitchell waived his non-exec fee. I don't think he is worried about losing a job which paid zilch last year. His wife is doing the buying in any case and in decent chunks so it shows a degree of confidence that there is value here.
We 've all seen examples of companies where the execs make token buys of a months' salary or so to prop up the price, but six figure buys are real money so more meaningful.
I'm still on the fence here owing to doubts about management, or more pertinently the culture that allows obviously dull games to be released. Are they all too nice to criticise anyone/anything?
DB's stake makes it unlikely that we will see either a takeover or a cash raise IMO, so it's all about the next game really. I expect they have enough cash runway to get that away, but it needs to be successful.