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Started: martyh, 1 Mar 2023 07:34
Last post: Olderandwiser, 1 Mar 2023 12:36
Yes.
Have you allowed for the fact that this is a $ based transaction?
4.5p, actually! On top of the 3.17p cash tender refund.
So, there will be 144mn shares left after the Tender Offer? With some £6.5mn in cash for the remaining business? That's a remaining cash per remaining share value of 4p. What am I getting wrong?
I imagine the tender offer price will be based around the cash value of the company, perhaps 5p per share.
E.g. they will buy back 250 million shares at 5p per share. With all shareholders entitled to sell at least 63% of the shareholding (250/394.5).
If some shareholder decide not to take part in the tender offer then the remaining shareholders will be able to sell more of their shares at 5p.
Started: Shakadenus, 1 Mar 2023 10:06
Last post: Shakadenus, 1 Mar 2023 10:06
I hold 42525 shares but can’t seem to get my head around this current situation. Can anyone tel me what I will be due to get back through the new deal ? Many thanks
Started: horsetrader2, 28 Feb 2023 07:20
Last post: horsetrader2, 28 Feb 2023 07:20
Name has changed to LETS in my trading account.
Surprised no RNS to this effect.
Started: horsetrader2, 21 Feb 2023 06:55
Last post: Stalin123, 21 Feb 2023 16:45
Older Martin mentioned it in the vox interview he did. Sure he said 8 to 12 weeks and they where trying to find the best mechanism to pay it. However it’s about 20 minutes long and I may just be remembering it wrong. Might be worth you checking it out.
I suppose the lukewarm market reaction to the positive vote today is down to holders now waiting on a definite payment date for the sale. Does anyone have a good feel for the timing?
Let’s hope all the motions are passed at the meeting today and that the sale can proceed without any hiccups.
They seem to have performed so many u turns over the last few years, that I will glad to cash up and move on as I have found it increasingly difficult to believe a word they say. It’s all spin spin spin.
I’m not sure how going forwards, they are going to find extra content for their already stale HBE products or who is going to make it for them.
Best of luck to anyone who remains invested.
Started: sonofelvis, 4 Feb 2023 08:21
Last post: abc10810, 15 Feb 2023 11:54
Its very common. White collar robbery! Share price should be cooking 30/90p.
Higginson says can’t be a a dividend as they don’t have distributable reserves. Vox markets podcast 12 mins 30 seconds but looking at other ways to get cash to shareholders. Good to hear from him that will increase payout if investment opportunities not viable
As I understand the 3p pay out will be be a dividend which will be subject to dividend tax of.8.75%.
Having bought at the original offer price of 10p in 2008, A bit of disaster, but at least get something back with 1.6p
to hope for more
Last post: PensionDeficit, 3 Feb 2023 13:52
So HBE will cover the costs.
If only we had an idea what business/s MH plans to acquire and in what sector?
PD
Thanks for that.
Interesting interview and thank you Mr Higginson for clearing up some issues.
He hinted that if the share price doesn’t reflect the cash 5p a share by the time it’s time to pay investors out, then he might throw the rest in.
Sounds like a great gamble if you buy at 3.5 and get 5p back either in a few months.
Also said that remaining business is self supporting financially so won’t drain the pot.
VOX interview with Martin just released
Beginning to look like this is a management buyout
Started: horsetrader2, 2 Feb 2023 21:20
Last post: horsetrader2, 3 Feb 2023 08:48
I didn’t notice that .
Thanks for pointing out.
If that’s the case, then there is also the possibility that family members are part of the company that is buying the LBE side.
It’s all smelling rather fishy and clarification is needed.
On the face of it, investors have been shafted.
Let’s have the last quarters lBE figures so we can see how exactly lBE was performing.
I assume that you saw this part as well-
‘ in principle agreement had been reached for a £250k injection of capital into the HBE business by a third party in return for 51% ownership of that business)’
Then further down -
‘It has therefore been decided, in consultation with the investor (a company in which Martin Higginson, and his family have a minority ownership interest), to alter the terms of the above mentioned investment of capital to become a loan'.
So Higginson was part of the group buying out the HBE for 250k, which suddenly, when it suited, was able to achieve sales of 800K in a day (which we were not informed of until yesterday).
Call me cynical , but why would family members buy ?
Uvisan which is considered de minimis and does not fit with the company's future objectives, has now been sold for consideration of £100,000 to a group of investors (including Uvisan management) that includes family members of David Marks. The participation in this transaction by David Marks' family is considered to result in a related party transaction under AIM Rule 13 of the AIM Rules for Companies due to David Marks being a director of the Company. The Directors of the Company independent of Mr Marks consider, having consulted with Cenkos Securities PLC, the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's Shareholders are concerned.
My view is that this isn't subject to tax.
Agreed. I feel the consensus among myself and probably many other shareholders would be for the full proceeds to be distributed back so we can put this one to bed.
If 4.9p is returned to holders, Martin would receive c.£1.5m by my calculations from his advertised holding - thats more than enough cash for him to go and flog headsets without making shareholders suffer any longer.
Looking at RNS, the share price look to be 30% discounted to the proceeds. Maybe they should just wind it up and give us the cash...
The Disposals value the LBE business at $25,211,739 (approximately £20.5m) on an enterprise value basis, ignoring any value attributed to the HBE business, or approximately 4.9p per existing Ordinary Share in the Company.
Does some one know if the retune of the 3p is liable to tax, if so which one thanks
Started: katstrangler, 2 Feb 2023 09:04
Last post: Monkshood, 2 Feb 2023 12:36
£800k is impressive- had this been released to the market in a December update the share price would not have been hovering around 2p. It has all been too manipulated with the directors hiving of bits of the company which they then retain an interests in rather than looking after the broader interest of the shareholders, it does not inspire my confidence to continue to invest with them.
Lets Explores content came from Immotion so will they just licence it now?
Good luck to LTH's who have stuck with it.
Personally I always thought the HBE had the most potential. Selling nearly $1m in a day on QVC is impressive.
Improve the technology of the product and as the CEO says, this looks exciting.
Those are exactly my thoughts.
I’m very disappointed that they have sold off the main part of the business .
As you say, holders will be investing blindly from here on.
I would like to know the people behind the purchase and how the LBE was actually getting on when they decided to sell it.
I'm out now. I had hoped that we would have been back up to >6p by year end so not very happy with how it has panned out. I felt the company did a good job through the pandemic but I feel this deal is all about the directors and not the shareholders.
I did consider just reducing but essentially you are investing in a shell company with the CEO saying trust me to sort out a good deal on something, at some point; after today I not sure I would trust him to look after the shareholder interests rather than just his own.
There are plenty of other businesses to put money in where at least you know what you are investing in!
Lol payment within 12 months.. make 20% elsewhere..
Nope, got 110k in 2 chunks at 3.1p, 8.27am...
What is annoying is that if they had issued a trading update in December along with an upbeat commentary about HBE then the share price would have been around this level with the potential to rise quite a bit further throughout the year.
With an extension of the Merlin contract, China's opening, and the US and Europe proving more resilient for spending it is getting sold off on the cheap.
well, the BoD leaver share options are barely above that and they seem happy to sell at 3.65 so...
Nope lowest price to buy 3.4p, they dropped for mates but no quotes so no one able to buy 3.2p…artificial!
I can’t see how they won’t plough through that cash quite quickly.
Considering the lBE side was the core of the business, I feel investors are left with the junk side.
Are the purchasers anything to do with anyone on the existing board at Immotion ?
Started: horsetrader2, 26 Jan 2023 15:23
Last post: Knigel, 2 Feb 2023 08:07
They were going to sell 51% of HBE for £250k not that long ago so something changed - perhaps there’s an acquisition or two already lined up? Also imagine the time spent working on this deal when they could have been growing the LBE business??…
the market seems to like it...
I am less keen, the LBE was my preferred part of the business.
If they (Bidco Rod?) which is was a vehicle set up for this last November -can raise £25m to buy out the LBE then there clearly was not, in contrast to what they say, any issue with raising money for expansion.
If the whole thing was being sold and all the money returned to shareholders I would be much happier rather than what seems to be a carve up between directors. Some of the retained monies looks to be being used to buy out share options. The rump of business may have £6M but has it got the potential that the entire business had, or will the reserves just whittle away into adin cost?
Who ever was in the know and has been buying shares around the 2-2.4p range will have done well but I am not that keen as a lon time holder.
others say this will go to 5p today... headscratcher, tbh.
don't do owt... wait for 8,30 to see what's what.
gla.
a bit crap, except for those who bought in the past few months. what's the point of rnsing' Merlin deal when they're selling the lot? what happened to the expected news from china? and what is the value of the home-based business (which i thought only spun out from the core business so where does the future development come from?)
BoD get their money and the pi's get some (or lots) back but it's adifferent and a smaller company now... huuuuuge spike and then i see this back at 2p or maybe worse by the end of next week, if not sooner?
really disappointing for lthers.
Started: Stalin123, 26 Jan 2023 14:31
Last post: Stalin123, 26 Jan 2023 14:31
I just can’t believe in nearly 4 months there’s no price sensitive information.
The results alone are PSI and they will know these within a few K by now. If not they should do.
Can’t get my head around it tbh.
Indeed!! Time for another angry tweet…
I’m in complete agreement.
I find the delay in issuing their usual pre Christmas, without any reason given rather disrespectful to their investors.
A brief upbeat clip on Facebook does not suffice for a proper rns containing trading numbers.
I contacted the company last year with regards the issue of a broker note from Cenkos as their new advisor, they did not have the curtesy to even reply.
They really need to improve investor relations, I have stopped adding until there is more clarity as to how things are going.
Would hope so, but who knows ?
They have gone dreadfully quiet.
So you expect the usual late December trading update … this week???
Started: horsetrader2, 12 Jan 2023 19:27
Last post: Monkshood, 17 Jan 2023 14:50
Yes, steady buys of 50,100 and 200k share packets, the cynic in me is beginning to wander if they are sitting on the trading update whilst someone accumulates at 'mate rates' .....
hope your right ,,,,,,,,
We should shortly see if this is a viable business or not.
The historical target was 400 seats to break even .
Now they have surpassed 500 and we have just had the Christmas holidays, the next update should tell us if this business is going to work or not.
I suspect it will show it is and if so there should be a decent re rating in the next week or so.
There has a been a regular hoover up of shares for a few months now.
Started: horsetrader2, 15 Jan 2023 12:34
Last post: horsetrader2, 15 Jan 2023 12:34
audubonnatureinstitute.org/zoo-vr
Started: Aimster1, 4 Jan 2023 13:10
Last post: Stalin123, 10 Jan 2023 08:32
Yes RNS via Twitter. Very poor comms imo
I wonder why they are so late with a trading update?
They seem very quick to post on Twitter and Facebook how well they are doing.
I have a feeling something large is cooking behind the scenes. Management read the message boards so will be aware of shareholder frustration, they may just pull a rabbit out the hat in the coming weeks. The perfect time to install headsets is when footfall is quiet in Jan/Feb/Mar in preparation for the busy Spring & Summer months, hopefully some early signings can be made to reinstate shareholder confidence.
I would be interested to hear what Martins targets & expectations are for the business in 2023 given he achieved the target headsets he set for 2022.
Cash flow doesn't seem to be an issue which keeps quiet all those who were suggesting a raise towards the end of last year.
Started: horsetrader2, 30 Dec 2022 05:39
Last post: horsetrader2, 30 Dec 2022 05:39
Possibly the new partner.
From the Vodiac web site.
For all trade enquires please contact our global distribution partner Wicked Vision ltd.
Started: horsetrader2, 29 Dec 2022 14:16
Last post: Aimster1, 29 Dec 2022 15:08
If we can push through 2.8p bid then this should gap up to to over 3p very quickly. Comparatively large volumes the last two trading days as well which is positive.
There is a nice big buy order lurking.
It looks like someone’s aware of a decent update looming.
Started: Gametrak, 29 Dec 2022 10:13
Last post: horsetrader2, 29 Dec 2022 13:18
It would be nice to finish the year with a decent update .
There’s usually a year end trading update around now - then the full year results in April excluding any RNS contract news etc
When do IMMO next report?
Started: horsetrader2, 20 Dec 2022 12:32
Last post: Monkshood, 29 Dec 2022 09:53
I thought that not putting out a TU, as is typical pre-Christmas, would send us back under 2p but there has been a keen buyer (institutional ?) consistently purchasing .
Not complaining, but I hope it is for a longer term hold rather than a quick turnaround which would apply a brake to any significant rise on any good news.
Gradually moving back upwards toward 3p… it’s never boring here with the wild sp swings!
I suppose it is Monkshood.
They have historically had a habit of surprising to the upside every time everyone thinks they have given up.
That is very upbeat for you Horse!
I topped up yesterday - first I have ever picked up for under 2p . Hoping that this will go up the way vel has today which would make for an even better Christmas present for me.
This time last year I did not expect to be thinking now that if it can just get to 3p we will have had a 50% rise! I have kept topping up (or should that be averaging down?) so it does mean I now have a lot more than I did at that time.
The potential is there especially for further expansion into zoos, even when things are tight people still spend on the children.
Despite all the doom and gloom , I suspect a big surprise is looming and they will sneak in a very good trading update this week.
There is a massive difference between the extent of last years and this years overall offerings.
The large installations they now have at the zoos should produce a much more stable base with a decent churn of customers.
Last chance to fill your boots.
Started: horsetrader2, 8 Dec 2022 05:07
Last post: Knigel, 19 Dec 2022 15:16
There was a trading update around this time last year so I suspect a RNS is in the works…
The company has grown by 37% this year which is amazing. They have just over 100 extra pods paid for and ready to be installed in 2023 which if they managed it is another 20% in growth, that puts us well into profit.
Personally I don't think the communication is poor, quarterly updates are fine for me.
I think people are just scared and selling out of businesses they deem riskier. Most people don't read the reports in full so they just see an unprofitable company with diminishing cash reserves. Without realising the cash is only down due to investment in next years growth, once we get the update this month we will see cash has gone up and most people will be happier.
I don't think we will see significant movement until the overall outlook for the economy is better, or until late next year when I think we will be comfortably seeing £1mil profit.
Apart from the disgraceful communication from management which has undoubtedly contributed to the sell-off, what do people think will get this moving again in the right direction? The failure of the spin-offs must already be priced in.
I can’t help but think that any news we do get will only be averagely positive and that’s me trying very hard not to be negative. To many sellers that are prepared to lose money for my liking. Bwtfdik
Agreed.
They do need some news and soon !
I wonderful how functional the new units are when it’s freezing or wet outside ?.
I doubt anyone would want to use them in those conditions as they don’t seem to be well protected from the weather.
Started: Stalin123, 7 Dec 2022 12:40
Last post: Stalin123, 7 Dec 2022 12:40
Mcap is now likely to be under one to revenue generated. Which is considered undervalued depending on market sector.
Just need a positive update to get this moving and more positive market environment ( aim ).
Comms are really poor at the moment especially on sale and spin off.
Thanks.
Surprised it has had such a big impact.
Does it have a large following?
Does anyone know why they moved it to a sell?
frontier tech investor
Which tip sheet moved it to a sell?
my guess is that they have thrown the towel in at the bottom
got it thanks
Started: Schlum, 1 Dec 2022 22:54
Last post: Schlum, 1 Dec 2022 22:54
Not what I was expecting!
for some bullish read across see Accesso trading staement