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The 60% increase today in the GFIN share price would indicate that potentially something significant could be brewing here. Robert Keith, for those that don’t know is a serious player. He is the hi-tech investor best known for Eidos (Lara Croft) and holds 318,477,778 shares in GFIN (12.02%). I do wonder if an MBO or bid at a bargain basement price is being planned? Between them it would appear that John Story and Robert Keith hold approx 29.3% of GFIN. This could go x 4/5 or even x 10 on the right kind of news. One to watch....
Good luck, Brighty
Up 60% so far today. Robert Keith's holding in GFIN is as far as we know approx 12.02%. The average Keith / Charles Street hold (based on disclosed TR1's) looks to be 1.5p. Also, Keith / Charles Street were paying 5p a share approx back in 2021 for their GFIN shares. What price to take it private....?
Good luck, Brighty
A quick read tells me enough. I won’t be investing
Massive rerate comeing, this is a buy and hold , possible 3/5 bagger,
gla
I have been invested in GFIN since 2019, and thought under the new CEO and former Heineken Brand Manager John Clarke, that they were going places, and it did look like they were for a time, adding significant and experienced directors to the board, putting in place sponsorship deals, as well as extending existing ones, and monetising digital media, etc. I had a gut feeling that at some point this would re-rate, especially as one of the main shareholders in the company still holds a stake of just over 12.0% of the company. So, I have added to my existing holding and averaged down, hoping that I have made the right decision. I'm also a substantial holder of GGP with 4.8m shares. Therefore, don't make assumptions, and I can back up and prove everything I have stated here. Let's hope GFIN does make an amazing recovery and we can get back to the heady days of 5p+? To Gfinity and beyond!
Of course you did.out of all the companies listed on the stock market you just happen to invest in one obscure share that went up 4% and suddenly rockets up 52% with no reason.pull the other one .
Anyone know the reason for the significant share price movement this morning? I hope it's not another false dawn or pump 'n dump? Did buy some when it was only 4.0% up this morning, and wondering whether the share price, currently up 52.0% will go further, or will they issue an RNS stating "We don't know of any reason for the share price movement, but...."
Yes, a x10 would position GFIN at 1p....so a x4/5 as you say on positive news is probably about right. Good luck, Brighty
So am I. There must be a leak. With the right news, this will 4/5x in a flash.
Tempted to buy some more ...
Me too
Small traders taking their few pounds profit. id to know why its shot up first.
I was wondering too! Anyone know?
Out - Lovely Bonus for the weekend. Please do not get caught out. GLA
Whats going on.
Interesting. Hopefully without having to raise money. I really hope this business does the U turn required. Good they got rid of GDM director..waste of money IMO. Good they got read of JC as was all talk and didn't live up. So the right steps...slowly
Two full time posts
https://gfinity.hire.trakstar.com/
Does anyone including BoD know this company is going to be profitable or break even? Would take it with a pinch of salt what they have announced as in past .
So looking like a cash shell reverse takeover here imo. Someone will effectively buy the listing, change the company name and start something new to avoid the usual red tape in listing on AIM.
I guess it is reading what the company is really stating?
- As at 5th June or earlier (it takes a day or three for a Nomad to review and sign off any RNS) the company had £400k of cash...
- They state that costs per month fall to £185k in July - so June is clearly higher as they are on a journey to lower for July - Lets suggest June costs are £250k?
- There is a cost to releasing staff - and staff have clearly been leaving based on LI profiles
- Let's suggest the cost of redundancy packages, legal and documentation comes in at say £400k (very conservative - could be a lot higher)
It seems quite clear that the company is on fumes if it has been able to cover June salaries - I would suggest that must have happened but what is left?
I would hope the company put out a fresh RNS at some point very soon to advise shareholders as to a 'raise' of some sort - I am surprised the company broker and Nomad are still in place?
News expected shortly:
"We will update the shareholders shortly on a more detailed strategy."
From the RNS of 6 June 2023:
"The Company has also made extensive cost savings across the business and the monthly cost base in July will be £185k (annualised at £2.2m) compared to a monthly average of £600k in H1 FY23. The Company currently has cash reserves of £0.4m. The Directors believe that these cost savings provide the Directors with an organisation that can achieve operating profitability on an EBITDA basis in the near term.
Chairman, Neville Upton commented "This has been a difficult year for Digital Media with the Company having losses across all verticals, however after a significant re-structuring, we are confident that Gfinity will flourish without the requirement to raise further working capital. By focussing on our core web offering for Gamers, we are able to remove the capital intensive businesses of software development and esports events, and focus on returning to a positive return on investment. We will update the shareholders shortly on a more detailed strategy."
Market cap less than £1.7m....Way oversold IMO.
Expecting a more than 50-100% rise from down here when news lands ...DYOR.
MickR - Don't believe these directors. They have misguided previously and issued shares at cut prices to some.
"provide the directors"