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An interesting and Positive post on Blinky on iii BB by 'BigBear' posted Sun 20;09 that is worth reading. Re-enforces the view that good things are happening and much more about to happen at Blinkx, but would all this USPs and wonderful capability materliaise AFTER the small Pi has been shafted through a naughty Takeover plot OR are we going to be there when it happens and received our reward?
There's a good reason (or two) most managed funds avoid aim stocks :-)
So Tosca have increased their holding by 50m shares and the share price hasn't really moved an inch in 12 months. The rise to 42p was bashed down, and the gap to downside at 14p quickly filled. Corrupt AIM at its best!
Donald's departure was a worrying development.. Shook my optimism at the time, and I still wonder if his departure was a flag that i should have paid more attention to.. Impossible one to assess thio really, as we know zero around the circumstances of his exit
Perhaps there is genuinely nothing good to say . I was amazed that the smooth talking charistmatic Donald Hamilton was allowed to depart even though he was UK based.
"one or two employees who actually feel positive about the company" Suspect you might have struck a raw nerve there oh powerful one!
just had a scan of the September reviews for RhythmOne. Clearly blinkx is not getting any better at managing this particular bit of PR. They equally clearly seem to feel the need to respond as the "RhythmOne response" section is being completed by a "Director - Social Media". You would think, as a company working in the advertising market, they might be able to encourage one or two employees who actually feel positive about the company to provide some balancing reviews...
Chirpy chirpy cheap cheep, eh? Bird brain!
Correction. cheap not cheep
Shaggy I agree with you. In my view the SP is being held down in order for Tosca to pick the company up on the cheep. Anyone with live prices can see how there are often large gaps between trading, in order for the MMs to get their ducks in a row and then a number of trades stream through in the order to achieve the required result. I also think that if I am correct, that BM would be retained in return for not making a fuss. Bringing out a profit warning a day before the AGM when all the votes had already been cast was a disgrace and timed, once again to achieve the desired result. Regards.
... that last bit should have read: All IM (very pessimistic)HO of course.
I'd just like to point out that on 25th August (AGM) the actual vote for BM continuing as CEO was as follows: For - 86,002,758 (80%) Against - 21,513,948 (20.0%) Withheld - 5,108 Total Votes Cast - 107,516,706 Blinkx at that point had total voting rights of 402,774,832 according to RNS's both side of that date so, ignoring the withheld votes, that means only c.26% of the total eligible votes were cast. Those cast in favour of BM amounted to 21% of the entire voting rights, those against about 5%. At that time, RG was holding 10.03% of the total shares, amounting to 40,313,135 votes. Tosca, 13.43% which equals 54,106,562. As you can see, if either of them had voted against BM, the amount would easily exceed the actual votes cast against him. That doesn't mean that they actually voted for him though. Clearly both didn't, otherwise the amount would exceed the total number actually cast in favour. We've got no way of telling because we don't l know who cast their vote and who didn't. But clearly neither voted against, and not both of them voted for. One or the other might have voted for him, but we've no real way of telling. But that was then. What if, for example, Tosca voted in favour, say by post, but was then miffed by BM's seeming 'manoeuvring' to keep his job by only announcing the poor trading update the day before the AGM? Something like that might have pi55ed them off about his leadership style, and they now may be accumulating enough to oust him in future, if the scenario you're painting were to be true. The institutions like Barclays, Hargreaves, Halifax and TD Direct are probably just proxy holdings for shareholders like us, so I don't think they'b be part of the concert party, if indeed there is one. But I think R&M (4.92%) and Mike Lynch (4.45%) might well be. I've said before on here that IMHO this is Mike Lynch's scenario (following his Sunday Times article last year) for de-listing Blinkx and eventully re-listing them on Nasdaq when they 'suddenly' become profitable again. The company will only find it's 'true' value in the US, as Lynch suggested in his article I also think the BOD are in on it as well. I personally would like to see BM go, although I know others on here strongly disagree. I always thought the initial response of the company to Edelman was inadequate and he was responsible for that. His presentation skills are poor and he doesn't inspire confidence as far as I'm concerned. Everything since Edelman has gone from bad to worse and the late profit warning the day before the AGM was unforgivable. That and the over-generous 7 million share option awarded despite the SP being destroyed over the past 2 years. So I think he should go. But I certainly don't expect him to go. I suspect he's already got an invite to the party and won't be bothered about minor details about future share options and the sp level needed to trigger them. I reckon much sweeter pills await. All IM(very pess
"advise me whether I should buy a stake now" Well there's no real harm I suppose in being prepared for nosferati, especially given the ease of movement these days from their part of the world (I mean those of the true line), but I'd personally just keep a clove with me at all times and leave the actual process of despatch to the professionals. Oh, and this business about being pyrotechnically photophobic is apparently just Hollywood drivel (they have an aversion to electromagnetic radiation lying within the visible spectrum of typical daytime intensity, but the more powerful ones at least can still go about their business whilst exposed to it - at least for short periods). Keep it real, lake man - may your possum smell like blossom!
I am sure there is something in the small print about the options. But my take on it, is they can only be actioned above ( I believe 50p ) As for new BOD, as pensioner123 and others have alluded to, Brian took over in very difficult circumstances, as much as he would like to, Brian doesnt control the share price. Fundamendals feelings supply and demand etc etc control that. As for Novembers update, we have just had a pre-lude to that so cant see there being anything mind-blowing. I for one hope there is. Just a positive upbeat forecast and confirmation we are starting to make money would be a start.
.....If someone would kindly advise me whether I should buy a stake now , before H1 Results , rather than after. Thanks.....Tanganyika
Pinkers said on Thurs 13:02 (15.10.15): " Worrying. Tosca & Griffiths now hold 35%; add other major institutional shareholders and we are looking at well over 60%. Us small fry ....... " My own humble opinion, for what it's worth, is: 1. Tosca & Griffiths' relentless stake-building suggests they are acting ( in concert ?) with a common objective viz. to attain, with the support of the major II's , voting rights approaching at least 2/3 (66.66%) whereupon 2. Tosca, Griffiths & the II's would demand that Blinkx BoD set up an EGM where 3. a Special Resolution (jointly tabled by Tosca, Griffiths& the II's) would propose the removal (sacking) of CEO BM or possibly the entire BoD (including BM) and 4. a further Special Resolution nominating a named CEO/ new BoD (previously agreed by Tosca, Griffiths & the IIs) be voted upon by the shareholders. If this is the real objective of Tosca/Griffiths (ie to sack BM & his BoD), then, it seems to me, it is attainable because, as Pinkers said, Tosca, RG & the IIs could easily muster two-thirds majority to enable the above two Special Resolutions to be passed at the EGM. Meanwhile, I would assume, RG/Tosca will have already found a suitable, dynamic CEO with a strong marketing background (possibly an American ? ) to replace BM. I do not know what the precise procedure or mechanism is for the removal of a CEO/BoD. So, what I've set out above could be imprecise or wrong or both.......however, I feel sure, RG/Tosca are acting in concert and their stake-building at regular intervals is intended to create a two-thirds voting block (with the II's support) required to call an EGM with the express intention of sacking at least the CEO, BM, if not the entire BoD. Whether the appointment of a new CEO would result in a significant rise in SP .......the short answer is: I don't know. I guess, the new CEO's reputation, experience etc in this sector would dictate impact, if any, on the SP, in the short term. The scenario I've set out above is pure speculation and several very experienced posters on this BB might well conclude that this is all a load of hot air/rubbish and I will gladly accept that. One final point: regarding a point raised by rustybucket about " Brian's option price for a start....I think Tosca and RG know more than that " ( see below his post of Thurs 15:02 ), I trust rusty would guide me as to how Brian's options would fit into the above scenario.....apologies to rusty in advance, if this is a silly request. Thanks. .....ATB.......Tanganyika. PS: I had 5k Blnkx shares (av cost 60p) since 2007. Out of sheer frustration, about two months ago, I sold the lot at a price c. 22p, taking a LOSS of £2000...BM's incompetence became intolerable. If, Brian produces a miracle in the H1 results due in c. Nov, I intend to jump in, if only to recover my losses. If someone would kindly advise me wheth
Funny how a bottle of wine( or two plus in this case) wipes away the depression as a blnx share holder !
The only solace I have with this share price are. RG, Tosca, The price it has to go to for Brian to get his options, the cash in the bank and the improvement and availability of the new offerings. This coupled with the fact that new companies are still entering the marketplace. I have also noticed that when they want to take price down 25k "A" TRADES are prevalent often follow by Large "O" Trades. The spread at times has been 1.75p which means that this curtails the "A" trades. A "normal" share would go up with the large purchases we have seen. Surprisingly we havent seen RNS with share reductions. So who is selling. Or, is it manipulated to allow Tosca to buy. As for share price at 15p, with todays markets and a lot of stops on shares, it is very easy to have a situation where prices collapse like a pack of cards. Blackrock admitted they were caught out the last time. I hope they get it right and get back to profitability because I think the brakes will then be taken off. I certainly hope so.
Omg.. This is getting depressing by the minute… wish I never mentioned Takeover Rules at all….lol
PS; that and the profit warning just the day before the AGM?
I sincerely hope you're right Rusty, otherwise we (or some of us at least) are going to get shafted. Was it co-incidence that JPMorgan opened its short at around 40p, driving the price down after Griffiths' spending spree, and then Tosca bought in big time after that? JPMorgan are still sat there, despite the price dropping to as low as 15p, seemingly not bothered a jot about the potential risk of a takeover bid spiking the price well above their short level. Are they part of what Tosca are doing? Or was it just a co-incidencethat benefitted Tosca big-time?
Thanks guys. Since last post there was also some good information and links on iii BB on the subject. One confirming the period to be 12 months rather than 6 as Piler pointed out plus other rules surrounding this option. At any case who knows... but I guess one should be prepared for any eventuality and this will be the worst scenario for most of us, especially for those with high SP averages
First they have to get over 30%, who says they will large shareholders often stop at 29.9%. Any bids are normally at a premium to the share price. I actually think its all pie in the sky. I think they just think it has potential and they want in at lowest possible price. I would say that though.
"there is the concern that they could be dragging this out to reduce the amount they'd have to pay" By way of qualification, they could have an agreement in place whereby the MMs suppress the SP in return for regular share purchases (to explain why they haven't just waited for the SP to fall further). Ooh - er! Not that any bid would have to be accepted, of course.
I think it's the highest price in the last 12 months, Eddie, and there is the concern that they could be dragging this out to reduce the amount they'd have to pay (there can be the option of having this requirement waived)