Bigblu Broadb. Share Chat (BBB)

Anyone else in this? Planning on keeping a holding in the private company, or cutting and running? Only two days left of it being traded...

Vote done. As expected a formality - this is going to delist. Sell (or buy) before the 18th Dec if you want out (or in) before then.

Griffiths to 27% now

Vote today

Anyone missing Mr Laura yet? 😂😂😂

Still think with it trading well below its NAV there may well bw developments

TP

Aplogoes, you're right

Think you mean Liontrust and Gresham have sold. Harwood still in with 26%, Griffiths with 26%, BGF with 8% and Andrew Walwyn with 6%. The latter is one of the founders. Harwood is also on the Board. I assume Harwood, Griffiths and Walwyn will be supporting the delisting and therefore that it is a done deal with their c.60% of shares - they need 75% but usually only get 70% turnout with retail etc.

Bought more

Not showing as LSE has been down

Thankyou kindly TP

Ive googled him and he seem to be an astute investor who takes la3ge stakes

PS if you're interested in RG's other holdings, I've spotted him on the register of two of at least my other holdings - RWS plc (one of my biggest holdings which I also topped up today), and LDG plc (small private equity vehicle controlled by DBAY that trades at 40% discount to NAV),

Thanks for the hat tip Laura. I also topped up today another £4k,and paid up at 6.7p rather than the 5.6p I got the rest of my stake at. Have £12.5k in this now, which (ludicrously!) is almost 0.5% of the company! I'm not sure if I'm foolish or brave at this point! Maybe I'll go to the EGM and try recoup some of my investment in free tea and biscuits!

I take Richard Griffiths (aka 'The Welsh Wizard') doubling his stake to be VERY positive. Google him; he's a very highly regarded investor and has a reputation for being both very sharp and quite active with investments. As a 26% shareholder here he can be, and indeed if he wanted to he could probably block the delisting - although I don't think he will.

I suspect these will continue to drift up as people cotton on to RG's big vote of confidence, and as I don't think there will be much more stock around out there going forward. I might trim my stake if they do really well in the coming weeks, but am realistically settling in for the long term here, which I guess is 12-24 months, with the lack of info and liquidity that private holdings will come with.

The killer here really is the lack of info that they provided in their RNS. It does make me nervous that maybe SkyMesh is a write off. And Quickline is tricky to value. A degree of faith required, but am hoping the potential upside here - as per my earlier post - makes the discomfort worthwhile.

Suggesting 14p to 17p minimum for value ( see last week)

Snipet below

Their SkyMesh stake was supposedly worth $13.25m AUD at the sale price, but would suggest this needs to be written down if the business isn't performing. Maybe worth half that at $7.5m AUD (£3.7m)

- They have £4m in loan notes to Quickline from when they sold it, which should still be worth £4m as senior to equity (unless quickline goes bust)

- They have 2.8% equity stake in Quickline, which was worth £2.5m back at point of transaction in 2021, but I think is on their balance sheet at c.£2m in annual report, and this would have been audited so seems legit. Quickline seems to be doing OK, so would hope this bit is still worth £2m, but to be conservative say £1m.

- Take another £1-2m off the above for transaction costs etc to execute the disposals and returns of capital.

Putting all that together I get to £6.5-7.5m or 14-17p, which is roughly 1.5-2.0x the current SP.

Having watched for 2 weeks and having made 500% cashing in WHI in similar circumstances i shall be buyong more

This person has taken the 2 x 8% sellers to go to 26%

Resulting situation on the date on which threshold was crossed or reached

26.14%

No problem

Still watching

Laura - thanks for the heads up. I suspect the delisting is a done deal in that case. Not surprising as this must be absolutely tiny in the context of Gresham's fund so not worth the hassle for them.

Where do you get your info btw - what data providers do you use? Are you just matching up trades that go through to shareholders ie the 500,000 and the 3,323,348 trade today matching up to Gresham's 3,823,348 stake?

I'm guessing the 3,400,000 trade today is the other side of this then? If it's one buyer I don't think it can be Harwood as it would push them above 30%. Griffiths maybe? It's a chunky stake to go to one buyer if not institutional. Should be an RNS in the next few days if it has gone to one or two buyers.

Also fact Liontrust sold out rather than keeping holding and voting against suggests they also think it's a lost cause to fight the delisting.

In the next few weeks we should find out:

- Whether its delisting or not. Does it rerate if it stays on the market? Not sure, I'm fine with it delisting, but would like more information about how / when they plan on realising the value from their various stakes. Base case is it delists on 18th December

- What outcome is / or at least more details about negotiations wrt SkyMesh deferred cons. In theory this was due to be paid on the 23rd December

The timing here does make me nervous. They have possibly timed the delisting such that the deferred cons. outcome occurs after its already delisted, so perhaps less disclosure rules to follow.

However I did see this from their interim results which implies strongly that there has been nothing untoward regarding the sales process / financial information provided to Salter / SKM. Also BBB's CEO sits on their Board still presumably is quite on top of the investment and shouldn't have been surprised by recent developments. All in all I think it's a strange situation, and not quite sure what to make of it. And BBB's comms on it have not been the most transparent or clearest either...

"Skymesh FY24 accounts were signed on 10 June 2025 post a review by SKM Board of Directors and were unchanged from that reported within the BBB's FY24 year end results."

TP

This is Gresham out too now

5.15p

3,323,348

After much soul searching I doubled my stake today, so have about £8k in this. I think its a higher risk play as there isn't much information out there about how SkyMesh and Quickline are trading / valued, and nothing public about when / how / if BBB will realise their investments in those. But think my previous analysis stands - you pretty much need everything to go against them for there not to be value at these levels. For Quickline loan notes (£4m) to be worthless implies that that company goes bust. And for their c.30% stake in SkyMesh to be worthless it also assumes that it will largely go bust (or that there is some legal case taken against BBB regarding the sale process). Not without risk, but you need all this to go against them to lose money.

Simon Thompson wrote it up again in Investor Chronicle. I bought a subscription to read it (£12 for 12 weeks intro offer), and it basically is the same logic as mine below - no new information. But interesting he is still bullish, he's been following it for a while.

Liontrust selling out is interesting also. I wonder where their stake has gone? 8% at this SP is 'only' £200k so feasible that its mainly gone to retail. An existing institution topping up would be a big sign of confidence. Again I wonder ig Harwood are inside though and can't deal. Base case still is that it delists. I mean the General Meeting is going to be at Harwoods office - surely a sign that they are supportive, and suspect Richard Griffiths would be also as well as directors - so that is 39% give or take. As to the rest of the register - who knows? Gresham hold it in their Microcap fund - not sure if they can / will want to hold it as an unlisted stock. BGF - likewise I don't know. Andrew Walwyn would likely support so that gets them to 45%. Retail usually doesn't vote, so suspect they will get it through unless both Gresham and BGF vote against. And my suspicion is that they already have support of at least one of these otherwise they wouldn't have gone ahead with it.

Returning capital to shareholders is all it's here to do. Winding down as gracefully as possible.

I'm not sure how BBB can be considered a "major company operating in the satellite internet market" when its annual revenue is less than £700k and its loss per share continues to grow. I've lost all trust in this company, but I'm so far underwater now that it makes no difference whether or not I hang on to the shares I've got. Laughable.

The Business Research Company 05-14-2025 12:19 PM CET

Bigblu up 10% this afternoon

The size of the satellite internet market has witnessed swift expansion in recent years. The market is expected to balloon from $5.86 billion in 2024 to $6.51 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 11.2%

Which Companies Hold the Largest Share Across Different Satellite Internet Market Segments?

Major companies operating in the satellite internet market include AT&T Inc., Dish Network Corporation, Singapore Telecommunications Limited, Avonline Satellite Broadband, Kacific Broadband Satellites Group, Thaicom Public Company Limited, ViaSat Inc., Telesat Canada, SES S.A., Space Exploration Technologies Corp, EchoStar Corporation, Intelsat S.A., Inmarsat Global Limited, Eutelsat S.A., Eutelsat OneWeb, Iridium Communications Inc., Al Yah Satellite Communications Company P.J.S.C., Speedcast International Limited, NordNet AB, Globalstar Inc., Konnect Africa, Avanti Communications Group plc, Gilat Satellite Networks Ltd., Bigblu Broadband plc, Bentley Walker Ltd., SkyDSL Europe B.V., Skycasters Co, Freedomsat Group Limited

Still waiting for an explanation for this massive buy made just prior to the return of capital announcement.

We need an explanation for yesterday's 10% drop too, for no apparent reason. Perhaps they're looking for buyers as no one's taking up the offer of having 26% of their holding returned at 40p per share when they paid more than double that in the first place.

On Tuesday 25th February 2025, shortly before 4pm, there was a buy of BBB shares of more than £202,000. This is MASSIVE in terms of BBB trades, certainly the biggest undocumented trade.

So, who's going to deny that there was any insider knowledge to this trade, given that today's news reveals yet another return of capital at nearly 43% discount? Insider trading is illegal, so I expect to see and investigation into that trade.

For those of us who need an SP of more than 82p just to break even, this is a kick in the teeth and potentially economically devastating.

Hi SFH300, read through your messages and feel your pain. I've had a few of these shares in the past as well.

For those of us who need an SP of more than 82p just to break even, this is a kick in the teeth and potentially economically devastating.

Interesting bit of news. Proposal from the BOD to return £6.1m in funds to the shareholders at a price of 40p. What other business is left within the company and value to that as the market cap sits at around 19m at this price.

Yesterday saw a £202k buy shortly before 4pm and yet the SP finished the day more than 5% down. There were no other significant trades to shake the SP.

This *massive* (in BBB terms) trade must have been an institutional investor or an as yet undisclosed director deal, but the timing and lack of effect on the SP suggests that the ordinary investor (such as me) is being played and can write off our losses right now. Personally I need to see more than a four-fold SP increase just to break even and nothing suggests that's even going to happen.

Yeah, I know there's supposed to be a distribution within six months of the SkyMesh deal of somewhere between 13p and 17p per share, but that will do nothing for the value of the shares as this artificially low SP appears to confirm. I guess I'm now resigned to having lost tens of thousands on this stock.

74% buys vs 26% sells and the SP falls 9.52%!

I've lost more money with this junk than with any other stock ever.

Hahaha! BBB and dividend are not two words that have ever appeared in the same sentence in a positive sense.

They won't say about the Divi?

You're not alone.

Small holding here which is down from PP.

Not sure if I'm missing something with this one but sum of parts seems to be worth alot more than the SP with money promised to be returned to SHs likely in form of a special divi.

Will have zero debt also post this skymesh deal?

I seem to be slightly confused on this one...

... that the SP has only fallen by 15%.

I'm beginning to think this is a Ponzi scheme.

Good disposal

... is this news story on the BBB Share News feed?

https://www.lse.co.uk/news/BBB/amcor-snaps-up-packaging-rival-berry-global-for-84bn-k4t3ag77pygws30.html

Ditto

... and my losses will be huge. Thanks, BBB management ( I use the term loosely).

35p is no good to me. I need above 82p to just break even. This is the worst company I have ever invested in, not just because of the egregiously poor performance, but because they have no respect for their investors, never communicating with us.

Picture looks hazy but there is a lurking buyer and a break-up of the company is very possible with cash returned to shareholders at well above 35p. It smells of it.

Immediate 12% drop following the release of your word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad word salad ...

Don't you think it's time you stopped the ridiculous "strategy of realising value for shareholders" shtick? What strategy? And whatever it is, it certainly hasn't been working for years now.

As football fans frequently chant at their failing managers, YOU DON'T KNOW WHAT YOU'RE DOING!

Indeed. I think that trade went through at 38p, too, when the SP was still c.34p. It's staggering that there is so little investor info from this company, especially when the likes of Hargreaves Lansdown are significant investors in it.

I notice there's a 40,000 share transaction today at 13:21, the exact amount Chris Mills bought last time, probably buying again is my guess. Inching closer mandatory offer on the cheap territory...

... remember us? Your shareholders who have given you their money to develop your products and business? How about talking to us and letting us know WTF is going on inside the black box that BBB now is?

May I ask where your quote comes from, please? TIA.

"in cash at no less than the highest price paid in the previous 12 months"

On the cheap, in other words

Another Chris Mills buy, now holds 26.03% of the share capital, what's the endgame here? Mandatory offer required at 30% holding in UK public company...

Not quite yet....

Nd

Admit it, Andrew, we've all lost our shirts, haven't we?

The £25m value of the company on the market is way less than the the value Skymesh will IPO at, which I think it might happen in the first half of 2024. Last week Skymesh also sold some assets to Summit, but retained the end customers with a new partnership: https://www.itnews.com.au/news/skymesh-sells-clear-networks-fixed-wireless-infrastructure-597863. That should be beneficial to margins it seems.

Quickline stake is £7m, so that's over 25% of the mcap.

Let's see if they manage to sell part of the nordics business (or they expand to Finland and Sweden), but that has to be worth something as well.

I think the company could conservatively be worth 80p, so 2x the current price.

The problem is they don't communicate often, and when they do they do not sell themselves well.

But sum of the parts is higher than price, they generate FCF, and Mills now owns 25% of the company

SFH300 bear with them! I think 3-6 months and we will see some special divi, or cash back from sales! Bear with!

"There was progress across all the Company's geographies and business units in the period in terms of expanding the product offerings, implementing new core platform systems and a sizeable reduction in costs, recognising market challenges globally. The Company is therefore well positioned for the second half of the year."

And so the SP falls 8.33%. Why does no one believe you?

Thanks Tyche100.

That may explain the appalling service in France.

Anyway I’ve cancelled my direct debit as they were unable supply any service.

Seems they want to sue me for €59 ! despite failing to deliver the service.

Https://www.google.com/amp/s/www.marketwatch.com/amp/story/eutelsat-to-sell-its-retail-broadband-activities-in-europe-987ce6d9

I set up with Twoway communications that became Bigblu in France.

The Tv service I’ve been paying Bigblu for last 10 years was sold without telling me and now disconnected.

Bigblu have been taking the cash but can’t tell me who the service provider is although they’ve been paid for the service.

The internet doesn’t work since their satellite was damaged over Ukraine and the two decoders sent since don’t work.

Be careful this is a dishonest company.

They’ve never done a good job at PR with investors, so short term investors lose interest. Sum of the parts around £1, imo, so 2x this price. Loaded at £0.39-0.42 so not personally adding at this level

I see everyone's piling out of BBB again. Laughable.

Good to see Mills now owning 25%+ of the company

When annual report out there will be more clarity on strategy, we can then see the direction. Probably is still quite cheap? Skymesh covers at minimum the mcap. Nordics, 5% Quickline, FCF on top for free

I’m awaiting the next RNS which could be around the corner.

It all still feels very directionless.

Looks like SkyMesh is (re)entering the fixed line market after 5 years, this should support the business to get closer to the targeted 100,000 customers by end 2025. https://www.crn.com.au/news/skymesh-reprises-fixed-line-ambitions-590916.
Still valuing this company at c.90p

Pete.You are taking us for mugs.On the 1st december you are saying you are going to sell your remaining 300,000 shares...selling 10,000 per day.....then on 6th december you say you are going to sell your remaining 450,000 shares....an increase of 150,000.....please explain or stop taking us for mugs.....

If no news, sell up, this company is going belly up. I am out unless Andy gives us news or update. Do it via a Mello Monday session or an extraordinary AGZm , we need news! Not a small acquisition and stupid adding £28,000 of shares, the truth!