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It's worth bearing in mind that Yume also announced a buy back and paid out a special dividend just weeks before the rthm/Yume takeover...
It didn't help.. The results show Yume's revenues were in decline...
Just months before the rthm/Yume deal was announced, Yume also announced a $10m buy back.
For fy2016, their results were : ** shows Rthm H1 results inc Yume...
Revenue: $160m (2015 $173m) ** rthm H1 Yume contribution $58m
Gross Margin 50% (2015 45%) ** rthm H1 margin 45%
Cash (and equivalents) $65.7m ** rthm H1 cash $22m
Their buy backs were around $3.61-$3.64..
https://www.businesswire.com/news/home/20170216006240/en/YuMe-Reports-Fourth-Quarter-Full-Year-2016
There was also a special divi of $1 a share, just before the rthm/Yume deal was announced...
Yume's last sp on Feb 1, BEFORE RTHM/YUME completion closed at $3.70. Compare that to the buy back prices, of $3.61-$3.64.
https://finance.yahoo.com/quote/YUME/
Special Divi announcement:
https://www.businesswire.com/news/home/20170622005385/en/YuMe-Declares-Special-Dividend-Quarterly-Dividend
OK Thanks for the replies. I wasn't sure if the first day of trading as Tap/R1 counted as merger completion. And thanks for that little insight into buybacks 1GW.
One wrinkle on the actual buying back of shares is the rule on the maximum price that can be paid, which is normally 105% of the average closing price over the preceding 5 trading days.
So if there's a burst of enthusiasm on merger completion and/or buyback announcement and the share price jumps, then they will have to wait until it gets into the permitted range before they can buy.
For example, according to the Yahoo! finance prices, the current 5-day average is 205.4, so if they were buying back on Monday the maximum price they could pay would be 215.7p per share.
instadeth - as far as I know, merger completion will be the same as the Effective Date of the Scheme, which should be Monday.
I expect an rns on Monday from Taptica, after delivery of the Court Order to the Registrar of Companies, confirming that the Scheme has become effective and so the merger has completed. They may also announce the details of the share buyback in the same release and perhaps the actual buying back of shares will start on Tuesday which is when the new Taptica shares are expected to be admitted to trading.
Taptica RNS:
R1 to be de-listed and new Taptica Shares issued to RhythmOne Shareholders by 8:00 a.m. on 1 or 2 April 2019' according to Posting of Shareholder Circular & Notice of Extraordinary General Meeting by Taptica on February 14th.
The plan is to launch a US$15mln buy-back when the merger has been completed.
Times and dates may vary...
https://www.proactiveinvestors.co.uk/LON:TAP/Taptica-International/rns/LSE20190214180723_13970195
Stt1, thanks I have read the RNS already, but I was wondering when the merger completion might be? I take it this is something that is open ended? Or is there a fixed date? I would imagine it won't be public anyway? Sorry but I am not too good with business theory and terminology.
stt1 could no more run a company than fly to the moon...
Instadeth,
Trading in newly merged company set to start on Monday.
Proposed Buy Back:
"Taptica announces that it is the intention of the Enlarged Group to launch a $15 million discretionary share buy back programme to purchase shares in the market, commencing immediately following the completion of the proposed merger. "
https://www.investegate.co.uk/taptica-int--ltd/rns/recommended-offer-for-rhythmone-plc-by-taptica/201902040700059109O/
Sorry if this comes across as a daft question, but are there any dates out for the above?
STD
Due to the fact that you don't own any shares here and have no funds to invest as a result of your past losses..
Why don't you try a GoFundMe page , you never know your luck.
Scoundrel
As always you are being very selective with your cut and paste and are presenting OUT OF CONTEXT extracts from what basically was dis-claimer by R1.
As usual, you are again trying to Blow Up every point completely out of proportion and context to scare people according to your agenda.
The reality is that you have produced NO INDEPENDENT EVIDENCE whatsoever that any of what you keep regurgitating day after day HAS damaged R1 or is likely to seriously damage the merged company going forward.
Eddie
Your circuit's dead stt1 - repeating and repeating tiny snippets of imagined negativity like a very junior naive reporter.
A shame you couldn't use your brain in better ways really.
Rthm have now de-registered for SEC filings.
https://www.apnews.com/Business%20Wire/c6798af8e2a442e9b437826925710f21
At least now they won't have to follow the stringent SEC filings..
Like...the one which was filed weeks before the NDA was signed... followed by 2 CFOs resigning within a space of 5 months...coincidence!!
The company has warned:
"MATERIAL WEAKNESSES", "SIGNIFICANT" costs, "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE.""
"D. Changes in Internal Control Over Financial Reporting
As a result of material weaknesses related to the ......."
https://www.sec.gov/Archives/edgar/data/1713721/000143774918014094/rhyth20180713_20f.htm
Page 43..
"SIGNIFICANT costs", SUBSTANTIAL MANAGEMENT TIME", "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE."
"The combined company will incur significant costs and devote substantial management time as a result of becoming subject to reporting requirements in the United States, which may adversely affect the operating results of RhythmOne in the future. "
https://www.sec.gov/Archives/edgar/data/1713721/000119312517377843/d399085df4.htm
Gray,
6 yrs, more like 10yrs of being on track....
all sp in new money (10-1 consolidation)
IPO 450p, mcap around £170m by end of 1st day..
22/05/07 IPO - 450p, $50m
03/11/09 180p, $7.5m (£5m)
15/10/10 890p, $31.2m (£19m)
09/11/11 1340p, $15.1m (£9.4m)
04/12/13 1950p, $64m (£39m)
$167.8m raised
and last day of listing..
sp around 170p
and mcap around £136m..
goodbye 17p old money ,,6 years of being on track only the ceo s are doing ok,
Nobody in their right mind would keep repeating the same petty old stuff 'ad-nauseam' unless they had an issue or an agenda.
However, reasoned thinking that growth by acquisition has not worked thus far, holds some truth generally and that Tap and R1 is a marriage of two failing companies seems accurate enough.
As Gowlane suggests acquisition-led growth can cover a multitude of sins.
I would be more concerned about the end-game on those lines than by any drip-by-drip accounts of GDP and historic management issues or some spurious court-cases.
Declining revenues for the two companies are concerning, not the side-issues raised by an ankle-biter!
Blah, Blah, Blah GDPR, Blah, Blah, 18 CFO's have left in the last two weeks, Blah, Blah, Blah R1 shareholders under water...
We know, but we don't appreciate it being rammed down our throats ad nauseam.
Safi123, If you have simple disdain for a company you don't reach across multiple 'boards' constantly looking for weakness and industry-wide hiccups and try to make out that they are going to damage R1.
Bombarding the 'boards' incessantly time after time, especially if you have no commercial interest.
In fact if you did have an interest you wouldn't try to throw the book at the company from multiple angles and with so much time on his hands stt1 looks to be a very dodgy character enjoying his feeding-frenzy by slipping his poison out, and for what aim?
People who bought shares in the distant past and still hold them don't think much of someone running around trying to rub their noses in the pitfalls that may or not be wide of the mark.
I think we are all sick to the back teeth of vermin scampering around on the decking at will.
I’ve been a holder for about a year now and the SP hasnt progressed at all. I can certainly emphasise with some of you who have been led on much longer. I felt it was undervalued back then, and since then the company has clearly made enormous strides and is in a much stronger financial position. That’s what has kept me from selling...knowing the underlying value was building and net profits were near. I have to say though the conduct of the board is shady at best, and very disrespectful of it’s smaller shareholders. To an extent I can understand stt1’s disdain for the company. In all honesty if it was a popular share it would be overvalued and I wouldn’t have invested in it!
They seemed to indicate the 3rd quarter was quite successful. I’m certain had R1 declared a full year profit we would be looking at an SP easily north of 300, so the board must see significantly greater benefit even than that in merging with Taptica. It only follows that they felt reporting a good performance would undermine Tapticas offer who’s sp was depressed). If the results were underwhelming, then they would have declared it by now seeing as it would only have strengthened the case for a takeover.
I really hope for a first quarter update post merger, as I don’t feel it’s fair to keep us in the dark until the next half year report which is in September. I’m confident once the figures and potential synergies come out the market cap will rise to 500m plus, and signs of decent growth will make it a billion pound company. So I’ll hold
Good point, Tricky! If he's as dull in person as he is on this MB, I would rather chew my own leg off than have a "good chat" with him.
Got a message for stt1
Your spaceship's dead there's something wrong...
I wonder if we could tease a comment from a certain s..1 re. the case mentioned in Mail on Sunday.?
"No comment" OR nothing negative about R1 by implication? In your dreams my friends. Too good an opportunity for some spurious connection to R1/Tap. He will be drooling in anticipation of what he can conjure up. (lol)
As if anyone would have wanted to have a 'good chat' with a scum-bag1
Brassneck has already posted on this. Nothing really to add from me, other than it was a shame not to have the chance to introduce STT1 to brass.
Can anyone remember what percentage Lombard hold in Taptica (if any)? Thanks