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Should get notice of results date soon. Adastra suggested results at end of month. Normally the notice RNS is about 10 days before. September results normally include a trading update to market on how the firm is doing. I doubt they will say much before these results. Too close for major news.
as per usual in these formalities passed. holding the support level which is something considering as stated previously . still feel confidence here could be reassured more often. no signals form the BOD that scream, ` buy me we are a good thing here`, yet , but i hold firm in the belief that my two dimes of investment will pay off large some day. gla ; )
As expected the motion was passed at the GM. If Redleaf vendor now hold close to 15M shares we should soon get an RNS tomorrow. I think Gary Wyatt should still be above 3%. Getting close to the 3% mark. Application has been made to the AIM Market of the London Stock Exchange ("AIM") for a total of 8,054,280 Further Consideration Shares, which rank pari passu with the Company's existing issued New Ordinary Shares, to be admitted to trading on AIM. Dealings on AIM are expected to commence at 8:00 a.m. on 19 September 2016 ("Admission"). Still got this see saw of buys and sell on the shares here. See where this goes. Directors will likely wait for the mystery buyer to finish buying these shares up. The SP is holding quite well here considering.
This was announced a while back when Autins joined Aim. However it was not clear Newgate had done the IPO. Todays news is a welcome confirmation. They seem to be doing the PR for this firm too. Nice bit of business for Porta.
The post-Brexit IPO market appears to be picking up speed after a lull - good for Newgate/Redleaf http://newgatecomms.com/newsroom/newgate-communications-advises-autins-group-ipo/
A few weeks of manic share trading and 3 days on LSE without a single trade. Few minor trades on ISDX. Seems to be mainly stake builders and medium sized funds/PI doing 90% of the trades here. See what Friday brings. Fingers crossed for some good results in 2-3 weeks time. This share could use a good boost.
Berlin-based mobile advertising technology provider, RNTS Media, has appointed Newgate Communications to provide financial PR, corporate PR and investor relations services. More info on the link. http://www.gorkana.com/2016/09/rtns-media-appoints-newgate/
'Redleaf Communications has been appointed to help philanthropic organisation Work Avenue raise its profile. Work Avenue helps people at all stages of life to get into work and be financially independent, with a positive outcome for the individuals, their families and society as a whole. Emma Kane, chief executive at Redleaf, will lead on the account alongside senior account manager Rishi Banerjee and account executive Sofie Ford. Kane said: “We are delighted to have been appointed to work with Work Avenue. The ethos behind Work Avenue is just inspiring and something I strongly believe – nobody should be denied their dreams and aspirations. “We are looking forward to working with CEO Shraga Zaltzman and his team to educate the market and raise its awareness as the business enters its next stage of growth.” More here. http://www.gorkana.com/2016/09/redleaf-communications-appointed-by-work-avenue/
I'm not going to the general meeting as it's merely a formality to approve purchase of Redleaf stake and rubber stamp share capital reduction. I doubt any questions would produce answers as its too close to interims. Like you, I have been pressing on debt renegotiation as I think it's pivotal to sentiment change and rerate. I am assuming that progress on this priority is the factor precluding director buying by Steffan and Gavin. If this is the case, then the interims could well see a step change as debt finance is halved and directors set buy orders on interim release. If that's the case, then it would also bear out similar thinking by the block buyer. The coiled spring effect of IPO's post-Brexit is also starting to trickle through now and this should escalate rapidly into 2017 which bodes well for Redleaf and our additional 15% holding going forward. As you say, the Far East and Australian arms of Newgate are very lucrative and we should see major benefits from currency exchange in this current half. The market will be watching closely for the 2-3 month trading from end June to mid September and the current outlook. HQ overheads are benefitting from better integration under one roof and I expect more to come. Location is very important in the case of Porta being at the centre of the financial hub in the City. I would really love a name change to Newgate-Redleaf which indicates the true nature and progress of the business. A triple whammy of name-change, debt renegotiation and director buying alongside a confident outlook would light up this lacklustre period.
Will you be attending this meeting Adastra?? It could be an opportunity to ask some more questions? They could certainly announce 6M result date. Not sure if you can ask many questions at GM's. They may not be able to announce much before the results anyway. If results are on 22nd they could well announce the date this week. Otherwise I am guessing 27th September. I think most of your comments seem pretty fair. I assume you are in contact with the BOD still offering your sage advice? I think we would all like. to know when the 2.2M profit from Aus, Redleaf, HK, Singapore will actually turn into results offering 2.2-3m profit. At present the huge London rent and debt seems to be eating away at this. Not to mention the dividends to owners. How to turn Newgate London into a big profit?? Breakeven is always first objective, At present this is the big white elephant sitting in the room. I am also looking forward to learning how their China operations are going. Asia and the far east are huge opportunities here as the margins are so much higher compared to London which is somewhat saturated. At 500-750k each 2 weeks it won't take long to reach 8.7m share. I assume the seller is not Paul Scott? I don't know how big his holdings were?? See what this month brings.
The General Meeting to approve purchase of another 15% of Redleaf and share-capital reduction should be preceded by or accompany announcement of interim date in week four of this month. It will be the first results period free of A+D from acquistions so we should get a clean set of figures reflecting pure organic growth as PPS and Publicasity are now fully integrated. Any Brexit hiccoughs should have been assessed and evaluated and we should start to see IPO activity starting to escalate due to pent-up demand. The appointment of several senior managers during the period will have affected bottom line initially, but the key point is that these were happy to come on board WITHOUT the need for expensive head-hunter fees. The current market conditions and outlook are the key points to note as the effect of appointments made should be increasing client size and spend. I am personally interested in the apparent focus shifting onto the insurance sector where Porta are building in expertise to attract and retain sector clients. I agree with GoTrader that a big buyer [or several] are very actively mopping up blocks of 250-500,000 shares as smaller package sells hit their purchase package requirements. Will be interesting second half to the year as these holdings rise to notifiable levels.
Mystery buyer has chirped in with another 250k this morning. Keeping to the pattern of 4.75-5.5p. The buyer does seem to be putting in larger single trades now. Soaking up sold stock.
Since May 27th I count around 5.572M share buys excluding directors. Of which 3.455m are all rounded numbers matching a certain pattern. 1.98M are odd numbers. 3% of Porta is around 8.7M shares. Few other trades showing as mid price which I have not included in the last 2 numbers. Previously I reckoned the buyer/s were up to 1-2% many months back. So 5.572M more shares bought suggests there could be 2 or so new investors here. As one big buyer would be above 3% by now. We know someone also grabbed quite a lot of shares on day of the results. 400-500k worth. This assumes that they have actually informed the market they have reached 3%.. It could also be that existing smaller funds have been topping up? I count around 4.72M shares sold since May 27th. I can't see further back. The big issue here is working out if this is all 1-2 sellers or maybe a mix of smaller investors too panic selling. Adastra suggested the seller was a smaller investor. At the AGM the BOD said they did not know who the sellers were. Suggesting there may be 1-2. If it was HH or Ruffers pretty sure they would know. 4.7M shares is a lot for a small investor. My general view is most of these buys/sells have followed very specifix patterns so most likely not small investors. I do think the share price will remain between 4.75 and 5.5p till this trading of shares is done. That or the results have a big impact on the share here. Would be good to see 1-2 new major share holders here. For now this pattern looks set to continue. It could also be that if we have some investors buying in they may just gradually be trading the stocks. Many funds have requirements on how they can sell stock.
Interestingly that 500k trade was probably delayed from earlier in the week or last Friday. My reasoning is the price dipped at 8.43am following a small sell on ISDX. A sizeable trade like this should of lifted the SP after such a small sell. Instead the SP fell. Also the 5.3p price was above the 5.25p ask price at the time. We also had that unexplained rise on the previous Friday with no trade. Hmmmmm.
Agree with you Mick. We need a clean set of results that shows a profit. We know that Aus, Redleaf, HK, Singapore between them made nearly 2M profit last year. The big question is why we keep making big losses. Sadly 1M or so goes to controlling interests of the companies we don't fully own. Strip out that and D and A costs and you are not far off a profit. They will gradually buy out more shares of these 50/50 owned companies. The new employees if they add value should repay their wages. Pretty sure Steffan was responsible for Gorkana joining up. He was very hands on the day of the AGM. He was actively getting his hands dirty doing the work. The other new hires are big hitters within the industry and should help bring in new clients. Long term Porta will be looking for the next deal to take this company forward. Restructuring of the debt is key for now. Also reducing rent costs. Moving Redleaf to HQ?? Gossip or is this likely to happen? Big 500k buy here today. Wonder if this is Bob or a mystery buyer. Been a lot of sells lately and the share has not really fallen much. It is not falling below 4.75p here. This seems to be the floor at present. Good results in September could turn this around quickly. Although we have been let down so many times before. The people at the GM in September might get some more news in 12 days time. Should also get an RNS announcing result date. Could really use a positive RNS or 2.
we have to see some action here soon. as i have stated before only takes a little wrong turn to sour the milk. theres a smell of it already without the bad news. profits need to be evident without another wage taker ,( no matter what they bring to the already full table ) , its getting predictable. we have done well , followed by the ` we are pleased to welcome to the board`. taking wages is good for them but there really is no shareholder value. before you tell me how good things are going i have actually been here a while and read many an rns.
3 sells today on LSE and the SP is up. There is a 14.16 trade on ISDX fore 200k shares at 5.2p, We are missing the trade from 8am though. Unless the ISDX trade was delayed then that would explain the SP movement. Still think a late trade will pop up here.
Eventually the quality of offerings by Porta will be recognised - look at the IPO of Blue Prism, supported and floated it is soaring. Glencore stood at 88p before Newgate took it on and its doubled in under 12 months. All this bodes well for future client engagement. Patience may actually pay off in the run up to 2017.
Volume is still thin and we appear to be consolidating around this low level. The market remains unconvinced that the cost of recent senior appointments will be reflected in increased business over the summer given the effects of Brexit. The effects on the IPO market were marked but now appear to be subsiding and should accelerate into 2017. Despite that, most of Porta's income is of a recurring nature. If Newgate in particular, can add on on its integrated management suite to existing client needs, then the business margins should escalate. The management are equally frustrated at the nadir of the shareprice and I'm sure that guided their decision to use half cash to pay for the acquisition of the extra 15% of Redleaf thus reducing the share component at this low level. Despite extending the loan debt repayment and packaging in the interest, the spotlight is on Gene Golembiewski FD. It is a year next month since he prioritised the loan debt issue and its reduction. The business 'should' now be in a far stronger position to renegotiate for a variety of reasons - cash generation, historic low interest rates etc. Since he is a beneficiary of the 'hurdle' incentive plan negotiated in May, THIS will be viewed as the test of his ability. Get it right, and he shows why he is on the scheme; inaction will certainly focus attention on him by II's at the next meeting as this is pivotal to the bottom line. September will give one of the cleanest set of accounts we have had since start-up D&A should have almost gone. If the platform of integrated and combined services is gaining traction as recent contracts appear to indicate, then we should be back on track post any Brexit hiccough.
The sellers is most likely a smaller fund. Definately not small PI in my view due to the 300-500k weekly volumes. If we have just one seller here they have several million shares. 4-8 million? Also the manner in which they are selling the stock seems more like a fund. We know 80 million shares were issued over 3 years ago to various funds/corp investors. If it was HH or Ruffers I am sure management would of known about this and mentioned it at the AGM. Redleaf made about 450k profit last year. The extra 15% will give 67k or so back to Porta each year. So it will take 6-7 years before we see that 450k back. One website described the deal very badly. Saying Porta was having to renegoitiate the deal as the share had fallen so much. Pends on the spin you put on it. Yes positive to buy back Redleaf but bad that were having to fork out more cash and shares to do this. It is strange that Redleaf have their own building. You wonder how much rent they pay a year?? What we don't know is how much free space Porta actually have at their own HQ. Certainly sharing this cost with Redleaf would be a positive move if they have spare desks? I thought CAG grabbed the empty desks? Did you spot many empty desks on your visit? It looked quite a small office from what I could see, Unless it had a 2nd/3rd floor? Overall I agree about the Australian operations and the nice exchange rate. Should also help with HK/Singapore and China. China is a huge market to tap into. The foreign markets is where the money is here. UK has such small margins. Just a shame Newgate UK cannot match Redleaf in profit. Marketing seems to be the downfall. Once this seller is done then more buyers will hopefully start to buy in here. For now the directors wait. We still have our mystery buyer here. The test buys of 1600 or 1800 shares are a good indicator. So not all doom and gloom. I think September results will be somewhat improved but I am frustrated by the SP performance and the continual losses. At times managerment seem very positive here but the numbers are not yet matching their positivity. I am holding for now as I think this share is highly under valued. It's how to change market perception of Porta. The market simply does not love this share. I am encouraged by the new hires. Steffan seems very on the ball. I would also like some news on the refinancing of Porta at some point. New major investors needed. Also some deal that will take Bob Morton out of the equation so we are not reliant on his cash and his share support. See what happens in next few months.
Late RNS. General Meeting for 13 September to approve Redleaf 15% purchase and the 2.9M deferred shares. Wonder why they left this to nearly 6.30pm? Bizarre.
Volume is extremely thin as we are in the closing weeks of the summer hols and MMs have no direction on which to fix the price. The sellers appear to be the odd frustrated or bored PIs looking for equally evasive profits elsewhere. On the plus side there appear to be signs of an Autumn resurgence in the IPO market which should strengthen markedly into 2017 as Brexit has pent up demand. Australia continues to dish up good business for Newgate Oz so September should see a decent trading update and interims. Additional expenditure on quality execs should be more than covered by their effect on business and D+P write downs should have dropped dramatically. Exchange rates should help Newgate Oz give a good set of figures. Once we own 66% of Redleaf H2 will see internal dividend income go back to Porta's bottom line and the fact that Porta paid half in cash and half shares should be viewed positively. It would also be opportune to bring Redleaf 'in house' at Sky Light City Tower like Capital Markets reducing overheads markedly. It would also pave the way for a Newgate-Redleaf' rebrand - at least I can dream.
They are at it again. I expect the buyer to clear another 400-500k of stock here. Strange price rose to 5.39 so quickly after the 4-5k share sell on isdx yesterday. 5.12p trade last week was a definate buy. See what follows.
Autins Group, a new client for Newgate.