Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Continued strong liquidity with Group cash of �84.9 million as at 27 January 2018 (2017: �73.0 million) and access to aggregated facilities of up to �130 million across the UK and Spain (2017: c.�80 million) following the signing of the Sports Direct financing facilities agreement on 12 February 2018 o Long-term asset-backed revolving loan facility in the UK of up to �50 million, increasing to up to �75 million over the peak season o New two-year facilities signed in Spain on 19 January 2018 for �28 million and increasing to �44 million over the peak season o Sports Direct facilities of �55 million signed on 12 February 2018, comprising a short-term �20 million working capital facility and a long-term capital expenditure facility of �35 million � The Group has continued its commitment to increase investment in its new gaming concepts and the UK store optimisation programme and as a result no interim dividend has been proposed � Appointment of Martin Hopcroft as Interim Chief Financial Officer with immediate effect
Hellish strong now. Bid really good looking.
Signs of life? This sure is a volatile share...and a risky one at that!
Did someone just make 300 � in 10 minutes.
The same one. They took it into administration, added Digital into the name, gave it a new share price of 200p and refloated it.
The Game? Company which went to administration in 2011-2012 ? I lost over 7k of my investment during the time. If these people the same did they offer anything to previous share holders? It seems these are not in a better position today. Bunch of scammers, jus making money by going bankrupted.
I think they must still be carrying forward some legacy issues with suppliers from the previous administration hence the strange arrangement on excessive cash and debt facilities. They went bust in 2012 because suppliers wouldn't extend credit anymore. I made a bit on this and let the profit ride in hope of some kind of cash return at some point. One thing about it is that it does move quickly and downside must be limited given its cash balance. They also have taken on any debt which is big plus in the current retail environment
Small cap stock....always high risk but if management get things right these types of stocks can be lucrative. As you say not sure about GMD management...bit of a pivitol period for the company in my view. It has been a kind stock to me thus far as ive trad
Dead cat bounce? I wonder what Elliot is thinking about all this. They are sitting on huge losses yet don't even appear to have board representation. Seems strange for an activist investment company. Historically badly run business in a struggling sector and just given away half of their fastest growing business for almost nothing. Management sitting on a huge pile of cash and massive debt facility yet don't know what to do it with it. The only thing this has going for it now is that the SP is well below cash, let alone NAV. How many businesses with a positive EBITDA have a negative enterprise value? Take a bow Martyn Gibbs and prove me wrong.
Maybe....its had a bad few months. Things going on behind the scenes possibly. Its a volatile share for sure!
I beg to differ. Was in the Cardiff central store yesterday...was brimming with life!
The Game in Watford is obviously trying to look like a charity shop. One of the worst shops I have ever been in. What is going on? Watford is a good middle class market where customers will expect more. This is looking more and more like a deliberate managed decline in this company
https://simplywall.st/stocks/gb/retail/lse-gmd/game-digital-shares
Can't imagine this is a big deal. There were a small number of pilots around August last year, Game probably had to pay Maplin commission or a portion of rent. I don't think this arrangement extended to many stores
Does anyone know how much the Maplin partnership will cost the company? Why don’t they just open the windows at head office and throw money out. Have to question the decision making process, was it not obvious that Maplin were in trouble?
Investments Time, Have you got direct access to stock on loan then or are you just retail CFD spreadbeting ?
ame Digital rallies on Sports Direct deal Mon, 12th Feb 2018 10:25 (ShareCast News) - Shares in AIM-listed Game Digital surged on Monday after it announced a collaboration with Sports Direct for the accelerated rollout of its BELONG gaming arena concept and said it has entered into a loan agreement with the company for facilities of up to £55m. As part of the collaboration agreement, Mike Ashley's Sports Direct - which purchased a 26% interest in Game last year - has bought a 50% stake in the rights of the BELONG intellectual property for £3.2m in cash and a 50% share of any future profits. The loan facilities from Sports Direct will be used to fund the venues envisaged under the collaboration agreement, including the costs for new venues and ongoing development of the BELONG website and its related tournament management system. Game's chief executive officer Martyn Gibbs said: "I am delighted that through the collaboration agreement we are able to accelerate the implementation of a key element of our transformational strategy to move from a seller of physical products to providing gaming experiences. As more consumer focus and spend moves to experiences, we are well advanced in delivering unique, world class gaming at both local and national level. "Having launched the BELONG brand just over a year ago, we have now opened 19 arenas and are very encouraged by the popularity and performance of these locations. We look forward to collaborating with Sports Direct to increase the availability and scale of BELONG and to capitalise on the increasing overlap between sports and esports fans by bringing this unique experience to a wider consumer base." Sport Direct CEO Jon Kempster said: "We are very happy to partner with Game in building an increased presence in the esports market through the BELONG brand. This is a very good example of building a commercial relationship via our strategic investment approach." BELONG is the group's competitive gaming and esports experience centred around physical 'arenas', which brings casual and competitive gaming to communities nationwide, in city and town centres and in major shopping centres. Each arena houses a 'tribe', creating an emotional identity for players to connect with and represent across a range of competitive and community activities, including Arena Clash, BELONG's own grassroots esports tournament. Canaccord Genuity said: "That GAME has relinquished 50% of BELONG in order to facilitate the rollout may come as a surprise, but was perhaps the only realistic solution, given the likely capex requirements and pipeline of lease events. The combined effort is, we think, ultimately going to provide greater potential profit upside to GAME than trying to go it alone. "With no BELONG concessions in Sports Direct, it is too early to put numbers on the opportunity for continued standalone locations as well as any concessions. We expect more
Only risk I can see is the brand some brain dead supermarket might buy it. Like Argos haha Just look at the gaming industry devs are booming. Games have never been so profitable to make. I really don’t see Game lasting another Christmas. Start my last short at .55 Probably close it soon to avoid the delusional pull back.
Just keeps on giving! Shorted this company on & off for 3 years. .The idea of selling digital media on disc is ridiculous and so outdated. Plus it’s a loss leading exercise for supermarkets. Nobody could seriously think there is a viable company here for the future. Like selling CDs and ignoring Spotify, Apple Music ext ext
My Buy Showing as a Sell,,
To sports direct. Price looks like crashing.
Someone on this board several months ago said this would fall to 30p. They were right
Cash = �67m Old Facility = �86m New SD Facility = �55m Total cash and facilities are over �200 for a �68m MCap. It doesn't stack up and doesn't bode well for their confidence in the existing business to keep such a wide buffer. A 10% buyback would no doubt lift the share price. I sold most of my holding on the run up to 60p and now glad I did. I will let the rest ride in the hope that retail can milk the hardware cycle and break even, and that with SD involved they can accelerate the roll out of Belong and increase marketing spend. With such a high cash balance I think downside is relatively limited
Through its 30% shares interest and 50% JV interest SD owns a beneficial controlling interest in Belong. Very shrewd from Ashley, bought GG shares at depressed prices and paid �2.5m for 50% of future eSports earnings, and can pull the plug whenever he pleases
I think there could be more going on in the back ground, SD (M Ashley) already own a chunk of these and now they will take 50% on the Belong rollout. As I see it they are also agreeing funding for the future which must mean the Games Digital will be be holding to SD and not the banks, so maybe MA has plans to take more control or pull the plug at a latter date if he wants to take control. Or maybe I am totally wrong.