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Nir Tarlovsky sold at 0.1865 NIS on the 23rd of December, yet the trading range for that day was 14.30 to 14.70. It was only on the following day that the share moved upward to a range of 16 - 19.80. More director incompetence or did somebody (i.e. Kfir Silberman) pay a premium for the shares?
Ilan Shiloah sold his shares on the 24th, possibly also to Silberman. Directors selling means fewer votes against Kfir Silberman's hostile takeover, which is good news for the share price.
A rerate due to the positive cash balance is possible, but I'm expecting a more steady rise over the next few days and weeks due to the hostile takeover by Silberman and the increase in the value of CentralNic shares.
Morning fund panda
What’s your view come Wednesday when
All of the bonds are settled
My take of immediate re rate as far as the SP is concerned was the positive cash balance left over after the bonds were repaid
What’s your view with regards to this?
Cheers
AMG
The other thing I would do is consider buying a hedge for the CentralNic shares - the 4 million shares that were granted have since nearly doubled in value, so I would want to lock in the extra value. (Obviously if the CentralNic shares doubled again the gains would be lost, but it would provide some certainty.)
If I was Silberman, I would scrap bonuses to failed executives, lease out the unused office space, and try to recover unpaid money (e.g. $8.5m unpaid for WhiteDelivery).
A change of management should be good for the company, the only question is: how much is he willing to spend to acquire the company, and how much are the existing management prepared to spend to stop him?
"Kfir Silberman seeks to take over Matomy.
In recent days, Silberman, through the companies Pure Capital and Pure Equity, completed the purchase of Matomy shares in the market, reaching a holding of more than 5%. Until the date of appointment as the director of the company, Silberman wishes not to carry out any disputes in the company's assets and / or in the company's capital, including capital raising.
Silberman seeks to take over Matomy, as he did with Madigus in September last year. 'Globes' learned that Silberman was negotiating with Publicis and other shareholders in order to acquire their holdings in Matomy."
From Globes, translated by Google.
Specifically a positive cash balance of $6m, or 4.6p per share.
One thing I'm wondering is why they don't make use of their leased office space - subletting it could bring in an extra few million.
Seems like CNIC is getting a good deal out of this - Team Internet reported their highest quarterly revenue and profit for over a year. No benefit for Matomy though, none of the payouts are revenue or profit based. The Q3 results do separately show that Matomy will end up with a positive cash balance, so that is good news.
Hi guys
If I have read this right it shows just under
10 million dollars in cash at the end of September 2019 so around 7.7 million
In sterling as a positive cash balance
Hopefully a tick up tomorrow
Any accountant reading views of this
Report most welcome
GLA
Anyone translated these yet?
2,000,000 bought in the first minute. If you look back over the past few days on lse it is all A trades. I have a feeling the professional investors know this is worth more than the retail investors realise. Should see holdings rns in the coming days.
Looking very brisk this morning in tel aviv over 300000 nis traded £70,000
In early trading looking good for a nice start on Monday if it continues
Thanks
Another strong day coming today
Good effort anyway
Should be a uk RNS at 7.00 relating to this tomorrow
In English
Lol
Cheers
Anyone translated this yet?
Be great to know it’s content
Thanks
lets remember things were looking dire with the money owed to bonholders but now we can continue to run without that.
Showing 34.4% up in pre market
Or 3.75p in Sterling
Looking promising
$4m German tax rebate hasn’t been mentioned
Maybe they will suspend the share in Tel Aviv tomorrow, This will allow us all to suffer or be delighted at the same time on Monday.
Clue might be in the word 'remaining'
The remaining amount of the Cash Payment (€ 23,046,142) and the Interest Amount, shall be paid to the trustee of the (Series A) convertible bonds of the Company ("Trustee").
what cash do they have left?
This bit to me reads as though all rest of cash paid to bondholders, leaving zero cash leftover from this deal..
Good luck to everybody..this has been a drawn out process and if we all make a few quid on Monday all the better..
A cash payment of €39,554,332 (the "Cash Payment"), plus the Interest Amount[2] that shall be paid on closing date.
Rainmaker shall be entitled to receive a total sum of €19,050,000: (i) a sum of € 16,508,190 out of the Cash Payment
The remaining amount of the Cash Payment (€ 23,046,142) and the Interest Amount, shall be paid to the trustee of the (Series A) convertible bonds of the Company
Let’s hope for a good day in tel Aviv on
Sunday that will set us up for Monday
We wait we watch we learn
Good luck fellow holders