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They're not dumb......only Greedy!
Atb
Management are not dumb and have a plan they have stated even so far as to recognise sentiment was a driver and they want that to change to fundamentals of a stabilised and underpinned business.
You wouldn't buy if you read some of the tainted posters here that perhaps bought on sentiment.
6.96, 7.78, then it runs imho, at it's own pace. The buyback is not a dumb idea too when theres so much value to be had cheap.
Bakky ,
Amen : one would hope that a year end trading statement that targets have been hit / exceeded and .london paid and perhaps even , dare I say , a progressive dividend plan announced would see the 7.5-8p level reached quite easily I would hope .
When we sold to. MMX we were aware that the SP at the time of the announcement was a little ahead of itself and we had based all our calculations at the price around what it was when when we started negotiations , around 8p. We knew the “ gamble “ and that the position at that time was replete with unknowns and risks and that any chickens that may come home to roost would be mid 2019 and that’s why we were more than happy to lock in and no one sold for over 12 months . I am delighted to say that we see NO , Zero risks in the valuation now . Sadly market sentiment has moved away from this sector and this stock , but we are convinced the fundamentals are very strong . The question we have asked and should be considered is that , if management had any worries about the cash generative ( and therefore profit ) of the business there would be NO WAY that they would take the bold move of a) paying London off $5.1 MM no matter what the present value discount it represents or waste a single cent on share buybacks or talk of shareholder payouts , never mind repaying the loan facility . Some of you may take a dim view of management but one thing is for certain in that they are not dumb . Only a business throwing off lots of predictable cash does what they are doing . A very good sign and the fact that 20+ MM shares can be easily traded at full market price bodes well too . Institutions feel the need to have an imminent upside at mark to market and they for sure see that here hence their buys . If my tax / cash call requirements mean I sold 2o-30 % of my holding “ on the cheap “ thats for me to lament . The bulk will be held and sold only at a significantly higher price : that’s the plan .. again trying to be as open and honest with the PIs as possible . What I write here is exactly what I tell management .
no probs, only jesting! Looks like they are being snapped up pronto too, as you say insti/other interest is there, which is a positive I suppose. If you hang on a while longer I reckon that you will get closer to 8p or more I hope.
Actually , it was something that I was lining up with JPMorgan and they jumped the gun and something about the order got lost in translation across the Atlantic and I woke up this AM to see a trade had been executed not quite as per the “ pending “ instruction : I had shifted some last week at 6.125 and was planning to put an order in fill or kill at same and next thing almost 17 million sold at 6 and change , so no wasn’t trying to be disingenuous... an error was made .
hey SJ. I will take it next time you say you MAY do something it means that you already have done?
well, that lot should take SJL below his 10% target. As I said, if there are insties interested it will be better if he and others offload the lot as everyone knows he is not for the long term here. Will be better to have them in 'stickier' insties hands imo. At least there won't be a dark cloud over the business and s/p wondering when he/they will offload again.
actually no, Coupe, Already have the RR Dawn for my Topless needs ;-)
GT convertible SJ. ? ??
Thanks for your candid reply. Chris
Yes ramp ,
On June 20 the Secretary of State announced to parliament that due to a paperwork snafu the new law would not go live in July 15 as planned but would be delayed for approx six months . That created a cash flow hole from July - day end of year which the August sale fixed . Then totally unexpectedly last month Rt Hon Nicky Morgan announced the law was to be shelved Indefinitely . So the tectonic plates shifted again without notice . serious financial implications . We are in process of filing a claim against HMGOV and also bringing other products to market such as Ageblock together with the in process acquisition of an FCA regulated open banking business to hopefully take advantage of the in force PSD2 new banking regs in UK /EU ... life and business goes on ... time to book my Xmas jolly’s now :-)
I would imagine that today’s trades may include some Of mine and I will report back and notify the exchange if that is the case . On a larger point , it is , I think potentially good News that 2-3% of the companys stock can trade in the open market within the “ spread “ . Means that there are serious buyers waiting in the wings . It hopefully gets new insties in which again I think can only be a good thing . If most of those are in fact mine that will be my selling done for the moment and most likely for the rest of the year . Would ultimately like to get just under the 10% level below which the US SEC rules on micro cap stocks go away . Is a total compliance nightmare to trade when holding above 10%. It will not be my intention to trade again at these low levels , esp if any kind of dividend plan is announced . Sacrifice a few shares at low level to top the piggy bank up , square off some tax issues and get some new blood into the company ( I hope )... I will file a TR-1 as soon as any trades are confirmed , as required .
I'm pretty sure the holdings notification requirement is 3%, and each 1% increase/decrease thereafter. SB
Good morning ramp ,
Ageblock is not an age verification app
You are completely correct regarding your home isp .
But when young Jonny takes his mobile device out if the home to his friends Billy’s house and Billy’s dad
Hasn’t adjusted his isp settings the Johnny has unrestricted access , so a device level blocker may appeal to some parents ..
Hi SB, is it not that because MMX is incorporated in the BVI the threshold for notifications is 5%? Cheers
Oh well, 1 mil doesn't last that long nowadays. Just 3 months as it happens. Even though SlJ reassured us his venture didn't need more immediate funding.
Can SlJ be seen as a forced seller by the institutions looking to buy in. Why would you bid the price up when you know there's another 3%of the company being sold in 3 months time. After all it looks like SlJ is fully committed to his other venture.
It looks like at least someone sees value at this price so can't grumble too much. Atb
blimey.....more than just a few shares on the dance floor today. Wonder if we will see any RNS updates on shareholdings. I always thought afilias would sell after losing back end. Also - interesting to see if any were purchased through remaining buyback funds. Suspect SJL is involved as he had the decency to inform us. Still 6p....! SB
I wouldn't like to see SL sell, but I understand if he feels there is an undue delay in dividend payments. I too am running short on patience and am waiting for the .London legacy issue to be paid off ,that being the point when i see the door to dividends as a must to open.
It is essential that dividends are paid,signaling t o investors and the market, that this is a serious and profitable company that stands out from the AIM dross.
the trading has started already.A couple of biggish trades to start off today. Might be better all around if SJL and all the Icm peeps sold out. SJL seems to think there is interest from insties so no problem hopefully.
I don't get why there is a need for an age verification app. I can login into my ISP account I can restrict or allow whatever content I want, be it adult, violence, gambling or even restrict individual sites. And I can do it in maters of seconds. And I'm sure now most isp's have same level of customisations.
Would selling now not play in to TH hands. They and the IIs want shares and if they know not paying a divi will see some big holders cashing in at these prices would surely encourage them to holdout on any divi ? Appreciate one holders intention to sell is not likely to drive a company decision but if they believe a number of holders need return it could be a factor. Plus the super car market (in the UK at least) is dead at the moment, bad time to buy a bentley C :)
It didn’t last week with 6MM sold at mid market 6.125...
with the insties interested it should be no problem for you and the other Icm folks to offload a few I guess. Hopefully the sp does not bomb with the sizeable selling..
Hi All,
Unfortunately, I postponed my trip as a result of a) the governments decision to scrap the implementation of the mandatory age verification for pornography part of the digital economy act ... a bit of a body blow for AVsecure for sure b) nit getting Ageblock apps completely bug free for public launch with major PR and c) the general election hogging all the news rendering the PR in UK for b) harder to get people’s attention . . FYI . May sell a few MMX at market to provide ongoing funds for AVsecure and pay for the new Bentley Continental:-) in absence of dividend . I made my position clear to management many moons ago that strongly in favor of dividends as used to high annual income from the asset . Explained that I believed that no dividend would lead to share sales by icm vendors by /around end of 2019 if didn’t materialize as promised at time of deal in May 2018 . From what I gather from my brokers is there may be strong buy orders around at current SP as Institutions try to build meaningful stakes ahead of the clearly improving results are ( pre?) announced. Personally I still see 7.5 p +++ in the next few months . For US investors tax year finishes DEC 31 so can expect some sales before then I would imagine to lock in gains / losses by end of tax year . As ever just my 2 cents as a somewhat “domain market aware “ non insider . I think MMX are perceived as doing just fine within the domain community : this week has been icann meeting in Montreal , so I get some feedback
Another thing it us unrealistic to expect the share price, with overhang and bad sentiment, to respond to £351K of buys.
Nearly 2/3rds of the firepower is still to be used and likely largest response will be in the final element when low hanging stock already taken off market.
The fact the buyback has been given to a 3rd party eliminates management bias.