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Only got time for a quick scan, cash looks good £2.5m with mcap £1m.
good update got cash in the bank... and the sale has gone through...
patience now for growth ........
With the GM on Monday regarding the sale , if agreed ,results will be issued Tuesday.as the company has already pencilled in the 4th September for the AGM. IMO. Fingers crossed !!!! Box has a history of everything last minute. Hopefully if correct a trading up date for H1 will be included which could override all the doubts.GLA.
No figures yet could mean that the auditors will not sign off the accounts, perhaps doubting the fair value of assets. Figures need to be out by 31 July or they will be suspended. If that happens it will be lights out IMO so I will be outing on Monday as I do not have the confidence they will survive.
Nope shares are suspended not delisted if accounts are not published in accordance with timetable and revert to normal when audited accounts become available.
I thought under aim rules if results are not issued within 6months of year end for whatever reason ,the company was delisted. Stand corrected but I think I might get clarification from the nomad next week.GLA
Well that is nearly all yesterdays sellers out by that buy
I don't think it is Phil Jackson. I emailed BOX today and he replied.
The claim they mention isn’t against a current director, they say a former director. Jackson is a former director of one of the emex companies, but also Porter is a former director of 3 of them, who resigned May 2018. Could be either one of them, or maybe neither, until there’s more info it’s impossible to say. And on the various companies involved, where has Net World ltd come from? Appears to have no connection at all to box, so how are we selling it? Really not sure about this deal, sounds like there’s some business left over after it, but very vague at the moment. The £2m will be paid from earnings generated from the business box is selling to a director, and over a 10 year period with no interest. Maybe it’s a good deal considering the current mcap, maybe it’s not, but appears to be no choice. Looks like if share holders vote against it the BoD are basically going to scuttle the company. As for the accounts which should be published end of this month, there’s not exactly a reason given for why these are going to be delayed. They clearly have the accounts, as mention is made of earnings for year. Overall, another strange update from box that leaves questions about what is happening.
Pj owns phillite d uk but he is not the legal claim Its an emex director. I do wonder if this wad the seller whose taken the price so low
Just not seeing interest on Friday
Not many left under 0.7 now. Turnaround business here.
Are legal claim/ PJ, Philite one of the same,!!! Revenues this year from HVTS and FX plus the £600+k from Philite points to the best H1 Box has ever had, may it continue. Profits in line with the present MC this year should lead to exciting times ahead . GLA
Can only be the spread which is putting people off ! Reason is that down here there is actually not a lot of stock in free float. You can sell. MMs will be happy to take your stock at these levels.
What this means so far this morning. An opportunity ?
I have to admit i didnt fully understand the rns yesterday so made contact with Box for a thicko explanation.
European banks do not like the gambling side of the payments business and many new regs make it difficult to operate. So they have to jettison it so it isnt connected to the company but they still get the commission, the gambling ( non cooperating customers) switching to far east banks under the new owner.
This now paves better/ easier relationship for box with its european banks and they can concentrate on the preferred FX market.
A winner both ways for the company. Thats just my interpretation of the explanation i recieved and i may stand to be corrected but thats the very basics of it.
If it doesnt get voted in box would loose emex and the commissions. Easy choice for me.
Meant 2016/2017.
Stage one as good as complete. RTO between the end of July and beginning of September.!!!!! Worthy of note MH / Market Access is to achieve £1ml in revenues by end of January 2019 that’s more than Emex revenues for the whole of 2017/2018 , followed by £1ml a year for the next 4yrs (not sure if it’s meant to be compound), on top of that we have HVTS,with .05% revenues .As previous post interesting times ahead.GLA
Very interesting and I can see the football and the lotto business being sold off as well. There is much to come and I can see the sp advancing in the coming days.
I expect this to rise on the back of that RNS tomorrow......
GOOD NEWS come late sometime....... glad I am in........
Thats more than the whole market cap of the company
Out.
Late in the day
On the BOX front
they sort out the problems will we see this trading in excess of 0.1