The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
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.
Where can I find the debt on this company? Cant find anywhere.
I’m wondering why the seller wasn’t notified also by Iceland?
The directors of this company are saving up for their P45s.
Looking for some director buys to show confidence in this company….notably absent this year.
When did the company know about this? Date notably absent from RNS. Not talked about in Monday’s webinar, but lots of selling last few days. Makes you wonder.
OK well I’ve topped up … the risk here is cash burn with the Iceland delay, but DGI revenues with no dividend seem to be fine … anyone worked through the available numbers in detail?
When did Norway get involved in all this or am I slow on the uptake?
"Winterflood Research analyst James Wallace added the Icelandic anti-trust authority had recently approved Ardian's takeover of the nation's largest telecoms infrastructure service provider, which resulted in the "somewhat expected" additional scrutiny of the Ardian acquisition of Verne Global."
A couple of corrections, Icelandic government and £300m of the £349m will be used to pay off the the RCF.
"In 2022, Iceland's Competition Authority received 30 merger notifications, of which ten went to Phase II investigations, with all ten cleared with conditions, according to and Organisation for Economic Co-operation and Development report."
https://www.investmentweek.co.uk/news/4171647/digital-infrastructures-verne-global-sale-delayed-regulatory-investigation
Hardly seems a rational response but there you go.
Today's RNS doesn't mean the Verne Global deal is off so at least £349m will be returned to shareholders plus whatever they can get for the other assets. Even if the Norwegian's try to stop the deal there's an appeals process or another buyer.
Well, it's either £800m as per NAV or as the market values it, £160m - I would guess it's somewhere between.
That's one of the possibilities for its disposal, I believe, an IPO for Arqiva.
Verne Global sale £349m + possible £107m, market cap £167m, overreaction to administrative issue in Norway. I've bought.
BBC 2017:: "TV tower firm Arqiva eyes £6bn UK listing" ....
"The UK's largest owner of TV transmitters, Arqiva, is planning a £6bn float on the London Stock Exchange expected to be the biggest this year."
Have I missed something here? Why is Arqiva not inline for that IPO with DGI9 holding 48% .... only needs 1 other holder to support the IPO.
Who said “bust”? Might happen, might not happen. You asked a question, I gave an answer. Cash flow is the problem … the investment manager would do well to cut head count if it’s winding down … and save cash. While a few can be dismissed on capability issues in my view.
OK, so why close if it's bust? Feels like a big over reaction, but time will tell, I've been wrong before...
Hedge fund closing.
So who was happy to take £700k?
This mornings rns says it all.. probably insiders dumping yesterday.
Could this share get any worse . Probably.
Some big trades going on - saw them yesterday/day before too. Makes me wonder if there is something brewing, a shuffling of the cards.
No idea what it didn't like. Only thought is that it's been nobbled for a complete takeover. £300m could get you a huge amount now, if you have deep pockets to fulfil the debts/commitments.
Disagree with the market.
£150m Aqua Comms
£100m Aquiva
£30m Elio
£70m cash
£5m rest of portfolio
-£35m RCF
-£30m selling fees (10%!!)
Everything priced like it's a fire sale = we trade £100m discount.
Granted if you're using the NAV, and bought in at 35p+ plus, it's toast.
Market didn't like it
Very assured about the sale of Verne, which I'm happy with. It has to begin by getting that sale concluded.
Also stressed the sale of Aquiva is NOT due to poor performance but share structure. I believe the business is still strong and growing, so no immediate concern from me.
Valuation and update by month end.