London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Started: Stoater, 3 Oct 2023 12:22
Last post: Miasteve, 6 Nov 2023 12:21
So what happens to delist shares
We get paper certificates?
Like many people I am so well down on this share hey ho win some lose some!
I really don't understand what is happening with this company its being taken into private hands etc
What are these warrants that they were offering?
Why have Terence leahy and William Currie increased their holdings significantly?
What did they know that we didm't? Or did they?
All questions that will no doubt be answered in the fullness of time
I feel sick that the directors of this company have been bankrolled by investors for many years. Those investors have lost in excess of 90% of their investment and now when things may be coming to to fruition, they decide to take the company private and destroy peoples ISA’s, SIPPS and real chance of trading their shares under the future set up.
To think that one of theses directors is/was an MP makes me even more angry.
The usual small shareholders are totally shafted….me to the tue of more than £20k
Taking the company private is biggest disservice they could do to long standing shareholders who are already sitting on MASSIVE personal paper losses that have not yet been crystallised as they/we have not sold our shares.
I have Brandshield in my ISA , my SIPP and my normal trading account and have put in a shedload of money (for me).
To this happening is absolutely gutting and feels so unfair, especially the way the offer is set up reward the fat cats who have their snouts firmly ensconced at the top table….shocking!
Hi SP, no I'm not a paid ramper, maybe a little over enthusiastic. I do hold shares but have averaged down recently, down about 8% at present. I just believe that the accelerating growth in revenues will easily exceed costs going forward. I could be wrong, but these are only my opinions.
Started: Barnacle, 11 Oct 2023 10:32
Last post: Barnacle, 11 Oct 2023 10:32
I can see the share price returning to the subscription price of 5.68p in the next couple of weeks, a good return on the current price.
Started: Barnacle, 2 Oct 2023 17:01
Last post: Barnacle, 2 Oct 2023 17:01
So looks like Mr Currie is hoovering up the bargain basement shares...
Last post: Barnacle, 27 Sep 2023 13:29
Someone is taking advantage of this bargain share price, mopping up all the sold shares from yesterday. Easy money for some....
Started: Barnacle, 21 Sep 2023 09:50
Last post: Barnacle, 26 Sep 2023 12:58
Hi ShandyP2,
We'll have to disagree there then, Tennyson have estimated a profit of US$ 5M, and their figures have been pretty accurate so far. With ARR growing about 60% year on year, even if operating costs do increase, it will be at a much slower rate than the increase in Revenue. Brandshield have signed 45 new customers in H1 compared to 53 for the whole of last year, and H2 is historically a stronger period in this regard. All the clues are there....
Barn - they will not be profitable in 2024 IMHO, although i expect the loss to be massively reduced.
In H1 accounts marketing costs increased form £1.8m to £2.5m - almost a 40% increase.
Why do you think marketing costs will not increase further based on previous numbers?
If the products are so good why are the marketing costs over 50% of total revenues?
This is a bizarre business strategy
Hi SP, Full Year Revenues for this year are expected to be $11m, most of their new business being weighted to the 4th quarter, and next year this is expected to increase to $18m, so if marketing and sales costs remain the same, then the company will be in profit in 2024.
Barn - what's the saying an out revenue being vanity and profit being sanity. That sort of sums up BRSD.
Yes revenues are growing but the marketing costs are excessive and are still increasing - over £2.5m p.a from £1.8m last year. A silly amount when total revenues are only c£4m, hence the massive losses and the regular fundraises - despite what the BOD have previous said.
Based on current spending i don't think the current placing will be enough to get to breakeven as surely no one will buy via the open offer at over 5p when you can buy in the market today at 3p.
Maybe WeShop will come good, but i've been waiting for a few years on that one.
Https://www.brandshield.com/wp-content/uploads/2021/03/Tennyson-Research-BrandShield-Systems-PLC.pdf
It's worth reading this report which is on the Brandshield Website. They have been pretty accurate with their estimates of ARR and Revenues, and it gives a good perspective on where the company is heading next year.
Taken from the report:
Looking at the peer group of global cybersecurity names, we can see that BrandShield compares favourably in terms of expected top-line growth over the forecast period. Looking specifically at 2023E multiples, the peer group trades at 5.0 times revenues, and the lower growth UK benchmark, Avast, trades at 6.2 times. Using a 5 times reported FY23E revenue
multiple, this gives an enterprise value for BrandShield of £42.8 million, and allows us to set
a 12-month target price of 37p per share.
Last post: Barnacle, 26 Sep 2023 08:20
I can easily see this share 10 bagging in a couple of years, Revenues YE2024 are estimated to be $18M, operating expenses of $11M, will see Brandshied making a healthy profit. If the company were to be re-listed on the Nasdaq, or acquired by a larger competitor, then maybe more.
From the Tennyson Research Report:
ARR to grow 61% per annum over forecast period. We are forecasting that BrandShield will grow its ARR from $3.28 million in Q4/21 to $21.95 million by Q4/24, which represents 61% per annum average growth. This translates into 22% per annum growth in reported revenues, which we expect to grow from £2.62 million to £17.83 million over the forecast period.
Looking at the peer group of global cybersecurity names, we can see that BrandShield compares favourably in terms of expected top-line growth over the forecast period. Looking specifically at 2023E multiples, the peer group trades at 5.0 times revenues, and the lower growth UK benchmark, Avast, trades at 6.2 times. Using a 5 times reported FY23E revenue multiple, this gives an enterprise value for BrandShield of £42.8 million, and allows us to set a 12-month target price of 37p per share
ARR of $10m by year end but most importantly was the loss being halved.
You can see why certain significant shareholders want this private.
Bid is slowly creeping up on every sell, buy order being filled. At a market cap of £5M, and an ARR of nearly $10M, it's not surprising.............
Started: Ahananda, 21 Sep 2023 21:38
Last post: Ahananda, 22 Sep 2023 08:43
If they are illiquid and untradeable which is the excuse the co gives for delisting
It will be much worse and un unlisted co
They havent even given details of where it could be traded
Just shows they do not GAF
We are where we are, the fact is that the share price is currently 50% below the subscription price of 5.68 pence, so if you buy now, and believe in the future growth of the company, then you are pretty much guaranteed a 50% return on your investment.
One more thing the directors are happy to take huge salaries out of the company and if the shares are so cheap why were they not buying them?
Small float, directors buy the price will rise
Nothing adds up here
If they are going to be profitable in 2024,why the need to delist?
Its is all a way to rob shareholders that cant or dont want to hold an unlisted share
They have made excuses when they could have cut their own pay
Their interests are clearly not aligned with minority shareholders
The way they have treated shareholders as a listed company who in their right mind trust them as an unlisted company?
Its is a scam.
They have effectively robbed many smaller shareholders.
Why did they not release results during market hours?
Why did they not announce the placing during market hours ?
Why did they not release that BS 37p a share price target during market hours?
This was another israeli co that has come to london for a heist
All smoke and mirrors
The management paid themselves much more than the Aim listing cost
Another reminder dont invest in foreign co's that dont list in their own country
Started: TheSoundMan., 21 Sep 2023 12:15
Last post: TheSoundMan., 21 Sep 2023 12:18
2nd para - Obviously meant RE-listing not delisting on second use - .....bigger player or relisting in 3 to 4 years
I was a holder here a few years ago. Bought in at 38p and sold out (gave up) at 15p taking a hit for about £2.5k. I simply couldn't see an end to the raises, and then if (when) AIM loses interest in a stock the SP suffers big time - as it has with Brandshield.
I think de-listing is the way to go here, with a view to selling to a bigger player or delisting in 3 to 4 years. The question in my mind as always with delisting is can you trust the board to act in the interests of ALL shareholders, not just the majors. I've witnessed some really crooked delists over the years.
However, I'm getting enough confidence here with the statements and the financial reports to take a small position in the hope of recouping past losses and making a decent return. That's my 50,000 share buy at 11.59. Hopefully not good money after bad.
My message to the BoD - Don't let me down here. I'm showing a little faith. Keep the communication up and continue to show the commercial progress of the last few years.
For those questioning holding shares in a SIPP, you can (I'm a HL), but not in an ISA.
Started: Barnacle, 21 Sep 2023 11:39
Last post: Barnacle, 21 Sep 2023 11:39
7.4 Views of the Independent Directors
The Independent Directors support the Concert Party's stated intentions for the business and its employees. The Independent Directors firmly believe that the Proposals are in the interests of both the Company and its Shareholders. Although the Board is acutely aware that some Shareholders will be concerned about a de-listing from AIM and the consequent reduction in immediate liquidity it sees no prospect in the near to medium term for the Company to achieve a valuation that reflects its actual performance and future potential, demonstrated through sustained growth of ARR and continued penetration of a fast-growing market. BrandShield has been recognised independently as one of the leading players in the Digital Risk Protection sector (Frost and Sullivan Report 2022) and the Independent Directors believe that all its Shareholders will be far more likely to achieve a positive outcome as a de-listed company where it is likely to command higher valuations based on realistic ARR multiples. In short, the Board believes the proposals are significantly more likely to result in a positive outcome for all its stakeholders, including employees and Shareholders. In considering this, the Independent Directors have given due consideration to the assurances relating to the Company, including those given to its employees regarding the implementation of the Proposals.
Started: Barnacle, 21 Sep 2023 08:47
Last post: Barnacle, 21 Sep 2023 08:47
Https://uk.finance.yahoo.com/news/iamfire-plc-weshop-060000457.html
IamFire plc
AQSE: FIRE
(“FIRE” or the “Company”)
WeShop Update
IamFire plc is pleased to provide an update on progress within its primary portfolio company, WeShop Holdings Limited (“WeShop”).
WeShop Update Highlights
Six-figure equity fundraise at a share price of £4.76 per share, valuing WeShop at c. £130m giving IamFire a see-through holding of £22.5m assuming CLNs outlined below convert to equity.
Sponsorship of SoccerAid for UNICEF resulting in national and international exposure of the WeShop brand, and continued uptake from various creators and influencers which enables viral uptake of the app.
User downloads for the WeShop platform as at 31 May 2023 were over 230,000 up from 43,000 last reported by FIRE on 21 November 2022.
Total purchases through the platform now total over 180,000 with an annualised gross merchandise value (“GMV”) of £33.4m as at the end of May 2023 (over a 3 month average) compared to the last reported figure of £27.9m for March 2023. Total GMV to date is £22.1m through the platform.
The list of retailers affiliated to WeShop continues to grow with recent additions including John Lewis, Argos, Habitat, Sports Direct, TicketMaster, booking.com and Skyscanner. This adds to the existing list of over 1,000 UK retailers.
Richard Griffiths, Chairman of WeShop Holdings Limited said:
“WeShop’s growth continues to impress and over £20m has been spent through the platform. We now enter the next phase of the company’s growth which will be enhanced through digital marketing and national advertising campaigns. Our partnership with SoccerAid for UNICEF 2023 has increased the public profile of the company whilst at the same time supporting an incredibly important cause. The WeShop team continues to work tirelessly to achieve its goal of building the world’s first shoppable social network owned by its community.”
Started: Ahananda, 19 Sep 2023 17:45
Last post: Barnacle, 21 Sep 2023 08:30
SNAP!
I'm uncertain why there isn't more interest in purchasing at this current price. The growth potential is still evident when you examine the numbers. The market capitalization appears to be undervalued. If we exclude the Weshop valuation, the company's value is essentially negligible.
Not sure why more people are not buying at this price. The growth story is still there. Just look at the figures. The market cap is a joke.......... If you strip out the Weshop valuation, the company is valued a practically nothing.
It's ok for you to sit on them unlisted if they're not in a stocks and shares ISA, however, for smaller younger investors like myself who bought into the growth story, and for me one of the biggest of my investments, we're well and truly shafted. I'd just like to say to the BOD, you've acted like a bunch of c..
Thanks,
IG
Barnacle and Jimmyr_83 - thanks for the reply regarding what happens to shares on delisting.
Started: Ahananda, 20 Sep 2023 10:45
Last post: Ahananda, 20 Sep 2023 10:45
I think last week there was a large trade that went through way below the market price
That should have set off alarms bells
Anytime there is a large trade way above or below a current market price someone knows something
A total disaster
Started: Ahananda, 18 Sep 2023 11:29
Last post: Barnacle, 19 Sep 2023 12:53
Shh, the longer the better... just keep accumulating ;0)
Luvvly Jubbly
Totally under the radar
I would imagine tbis gets taken over by a larger co
Current market cap is laughable
Started: DavidMarquz, 10 Sep 2023 17:32
Last post: DavidMarquz, 10 Sep 2023 17:32
The assessment of the final tranche of the long-term incentive plan options, scheduled for June 2023, would have been based on the May 2023 ARR figure of $9.3m (RNS 03/07/2023). However, this falls significantly short of the upper end of the incentive plan target of $13m, indicating that the company is far from achieving its ambitious goal.
Started: JeremyDa, 10 Sep 2023 00:39
Last post: JeremyDa, 10 Sep 2023 00:39
In May, the bid price for the company was around 5p and possibly even lower. However, after the RNS announcement regarding increased shareholdings from Currie/Leahy, the share price started to rise above 7p. Since then, there has been a gradual decline and bids are now back at the 5p level. We are hopeful for an upcoming RNS stating that they have surpassed the $10m ARR milestone. According to their publication, they were at approximately $9.3m by the end of May.
Started: BrianTom, 10 Sep 2023 00:28
Last post: BrianTom, 10 Sep 2023 00:28
In May, the bid price for the company was around 5p and possibly even lower. However, after the RNS announcement regarding increased shareholdings from Currie/Leahy, the share price started to rise above 7p. Since then, there has been a gradual decline and bids are now back at the 5p level. We are hopeful for an upcoming RNS stating that they have surpassed the $10m ARR milestone. According to their publication, they were at approximately $9.3m by the end of May.
Started: JohnFord, 9 Sep 2023 23:27
Last post: JohnFord, 9 Sep 2023 23:27
The financial calendar for the year is not available.
Subject Line: Absent Annual Report 2022
Rephrased Content: The annual report for 2022 is currently unavailable.
Started: 2phevs, 23 Aug 2023 11:28
Last post: skid35, 9 Sep 2023 15:19
Follow brandshield on my watchlist, I have a couple of other SaaS cyber shares - by the way this is NOT a cyber play.
What does put me off is the large CEO general remuneration and salaries, these are so far out of whack compared to the market and the value they could add.
Why should they get locked in? They are not going to be board members?
They have only been listed since covid on the uk market
Methinks ye talks sh%t
On the WeShop point, I think they are now able to offload their stake if they can find a buyer. I imagine it would be one of their priorities to offload non-core holdings to raise cash to fund their core BrandShield operations. If they wait for a full WeShop IPO on a main trading board then I imagine they will get locked into another period ( 1.5-2 years ? ) of not being able to sell as existing shareholders at IPO date. My interpretation is that there is no buyer at the price they want for that size stake of WeShop. In terms of early stage company, I think Brandshield have been in existence for 10 years, so I am not sure how long it takes to get our of that early stage label.
Silly people this is an early stage co .What were you expecting?
Darktrace said they are looking for acquisitions so we expect further consolidation in the sector.
We are taking advantage of the low share price which also assigns no value to weshop
We are buyers the sector is growing exponentially and Brandshield will grab a piece of the pie or get taken over
Started: Stoater, 7 Sep 2023 11:22
Last post: nicwe, 7 Sep 2023 13:40
I think around $350,000 a year in director fees for each of their two co-CEOs. That seems a lot in a year for one CEO for a company of this size, stature and performance. The value of their shareholding is reducing with the share price, but just wait for the next batch of share incentive options to be issued to them. They seem to be big winners with the fees they have been taking out over many years, and I hope large shareholders like Currie/Leahy are pressing them. I think the original Brandshield company started around 2013, RNS's alluded to hitting cashflow positive territory next year. Let's see. Their product and industry reputation seems good, but no translation yet to shareholder value. I think they need place a bigger emphasis on achieving profitability and positive cashflow and then the market will react. They should have a relatively fixed cost base, and once that cash flow positive territory is reached then returns should increase exponentially as revenue grows. I wait and hope.
Yeah very poor share. Can’t bring myself to buy more to average down
Ever feel like you have been shafted? Yet another AIM disaster where shareholders lose almost everything and have to listen to executives telling us how good things are going to be….maybe for them and their gravy train!
Terry tesco piled in and still we have no cigar
Started: 2phevs, 22 Aug 2023 13:43
Last post: 2phevs, 22 Aug 2023 13:45
BRSD posted article this afternoon on LinkedIn
https://www.linkedin.com/posts/brandshield_fighting-ai-with-ai-activity-7099729422257168385-0s8f?utm_source=share&utm_medium=member_android
Started: nicwe, 21 Aug 2023 18:10
Last post: nicwe, 21 Aug 2023 18:10
The final tranche of the long-term incentive plan options (RNS 19/04/2021) would have been assessed on ARR at end June 2023.
May 2023 ARR figure released as $9.3m (RNS 03/07/2023), compared to upper end of the incentive plan target as follows:
"The remaining 50% of the LTIP Options will vest should the Company have achieved an ARR figure of US$13,000,000 (the "Second ARR target") by 30 June 2023 (the "Second Milestone Options")."
They seem to be a long way off that ambition for the top end of the incentive plan ARR of $13m.
Started: nicwe, 11 Aug 2023 09:35
Last post: nicwe, 21 Aug 2023 16:16
AGM on Wednesday, where they usually have a resolution to renew authority for another year to issue new shares. So maybe a fund raise soon after that authority being renewed.
The cash burn and available cash balance is a confusing one to me - why would Currie/Leahy purchase more shares on the open market in May if they expected to subscribe for another raise in the next few months ?
Must be more concerns regarding funding. As at 31/12/22 there was c£2.5m cash and cash burn for year is c£4m. So without a placing since Nov 2022 (so money received already included in cash figure) it would appear they must be running on fumes.
Never tried some simple short cost saving measures - reduce BOD pay, minimise marketing spend etc
I think in May the bid price was languishing at about 5p and might have gone sub 5p, then the RNS in May about increased shareholdings from Currie/Leahy seemed to get the share price going up above 7p. Since then a gradual drift down and bids seem to be at the 5p level again.
Hopefully an RNS soon saying that they have gone over the $10m ARR mark. I think they published that they were at c$9.3m at end May.
Started: 2phevs, 10 Aug 2023 16:43
Last post: 2phevs, 10 Aug 2023 16:43