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One of the best statements we have seen in recent times.The management have clearly identified the problems and are dealing with them. This is work in progress but at least I have confidence. One complaint!!! As a communications company I wish they would inform share holders about events more often
Sounds positive. Costs falling away.
"I am pleased to report that the new management team is making great progress and can confirm that our trading performance for the first half of the year was ahead of management expectations on an Adjusted EBITDA basis.
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"As anticipated in the Full Year results announcement of 30 April 2018, the consolidation of the cost base and operating structures of certain UK companies did impact first half performance; however Adjusted EBITDA is expected to be no more than 15% lower than the equivalent period in 2017.
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"As a result of this consolidation, as noted in my statement of 30 April 2018, the cost base of the UK business was reduced by £1.9m and I can report that since then a further £1m of non-performing costs have been removed. The Group now has a much stronger and more appropriate foundation from which to deliver future profitable trading growth.
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"The Company is also having positive ongoing discussions with its lender, Retro Grand Limited, regarding the refinancing of the £5.2m convertible 364-day loan that matured on 29 June 2018 and expects to provide the market with a further update in due course."
1m delayed trade at 2p for 15.56pm.. Buy or sell? LSE shows as buy. HL shows as mid trade. Marked as an ordinary delayed publication.
If it was a sell would explain the fall back to below 2p. Not sure what to read of this. The other afternoon sells match the times the share fell. All the 1m trades lately have been sells.
Still a seller about. Almost 500k of stock sold near end of play. I think buyer will be back tomorrow. Been buying daily so far.
I think the seller may be out given the tiny resistance at 1.95 Just my thoughts If the case this stock should find its real value within a couple of weeks
Buyer is pretty much buying all sold off stock. If you got in at 1.3p you could double your money here.
Looks like another 400k+ of buys today. 1.87 trades seem to be buys given last sell at 1.8.
Fast reaching 2p again. Another 400k+ delayed buy trade.
Reverse trades for the 1m sells. Most buys likely Hales Hargreaves. Big share issue coming if sec plough 2m in here. They may use 1m to buy shares. Assuming the cash is for Porta. Hoping for loan rate reduction too.
Some buys starting to appear again Has the latest seller sold out? I do hope so as I still believe this stock is way undervalued even with its debt
Usual 1m shares sold today. Does seem to be someone buying up this stock. Hope it's not Gary Wyatt selling. He always buys and sells in 1m chunks. Hopefully at some point one large trade will go through to put an end to this madness.
https://twitter.com/Newgate_North
Out celebrating the new Leeds office. Strange they are only mentioning this now?
Someone with a lot of shares here is dumping shares in 500k lots. Let's hope it's not Gary Wyatt,
The issue here is debt. Hence why they may be about to get a 2m investment from SEC again. SEC are nursing a near 2m loss from their last investment.
The constant drop in SP and constant dilution here is a huge worry for me. I just hope once the seller is done the buyers return. I expect an RNS in August with news.
Very few people showing interest in buying these shares at their lowest ever price.
https://www.newgatecomms.com/blog/index.php/2018/07/19/dafydd-rees-former-head-of-business-news-at-sky-joins-newgate-as-a-partner/
Commenting on the appointment, Newgate Chief Executive, Emma Kane said:
“We are thrilled that Dafydd has chosen to join us at Newgate. Dafydd’s experience at the BBC, Sky and Bloomberg speaks for itself and he will be a fantastic addition to our Leadership Communications team. His astute judgement of how business and finance connect with regulators, politicians and the media will be invaluable. “
Also merger tables update. Very pleased to see Newgate ranked 11th in the @Mergermarket PR Advisors league table in the UK and 17th globally for deals by count.
No idea if this includes Redleaf or not.
Looks like SEC are doing a 4m share issue. Could be another £2m or so heading to Porta? Unless they are looking to invest it elsewhere? Wait and see I guess. If it is for Porta you can bet this has already been agreed. Shares to be issued early August.
'The Company intends to raise up to £3,153,286 (€4 million) (before expenses) under the Shareholder Offer and the Placing. The net proceeds of the Shareholder Offer and Placing will be used by the Company as follows:
· approximately €2.7 million to be used for strategic acquisitions and equity investment; and
· the balance to be used for working capital and central costs.'
http://www.publicaffairsnews.com/articles/news/newgate-brings-bus-route-boss-latest-bid-boost-tory-firepower
Newgate has signed up another Conservative lobbyist as an associate partner after previously hiring three ex-special advisers.
Newgate wins brief to advise Diebold Nixdorf ahead of Deposit Return Scheme roll-out
https://www.newgatecomms.com/blog/index.php/2018/07/05/newgate-wins-brief-to-advise-diebold-nixdorf-ahead-of-deposit-return-scheme-roll-out/
Looks like 2 senior staff and one non senior staff have left or got sacked. Guessing they are cutting back duplication now Redleaf and Newgate are merging. I wonder what cost savings they can make from this?
Of course I doubt they show all staff members on this page. Unclear how they decide who goes on this page.
I missed this from Paul Scott at end of May.
'Porta Communications (LON:PTCM) has put out a trading update. I've had a quick look at its most recent results, and the balance sheet is still a mess. Its reliant on loans from Bob Morton, so outside shareholders won't get anything. The equity is clearly worth nothing in my view.'
Not a great appraisal of Porta.
Nice to see Porta dealing with Xiaomi and their IPO in HK.
http://www.scmp.com/business/companies/article/2152891/xiaomi-lives-its-name-little-rice-grain-ipo-fails-impress
Overall Porta are burning cash and still making losses. I just hope all these cost savings are going to help turn the corner here. Maybe they could find a cheaper HQ somewhere too. Or share offices with SEC in the UK.
At present SP is falling and looks like some parties are still clearing stock here by these small test trades. Can't rely on Morton and Hales Hargreave to mop up all sold shares here. They need to halt the ever decreasing SP here and get new funds involved..
I guess the directors know something which we don't as there has been 1-2 buys recently. Maybe SP will recover once current seller has cleared? Maybe next announcement will be update on SEC with a reduction of loan costs.
GLA
We were in a position where she had a vested interest in the SP decreasing, which was a concern of mine. IMV the lows have been reached and the corner turned. Presumably that is EK's view as well.
I am very glad she did. We need more director buys to provide some support.
So HK/ AUS and Redleaf share increased. This is the last issue for Redleaf. It also means both CEO have more shares. 'Of these 23,493,273 Final Option Consideration Shares, 21,158,042 have been issued to Emma Kane, Joint CEO of Porta and CEO of Newgate Communications Limited and Redleaf, and to persons closely associated ("PCAs") with her. Following this issue, Emma (together with her PCAs) is beneficially interested in 22,696,504 Ordinary Shares of £0.01 each in the capital of the Company representing 4.48 per cent. of the issued share capital of Porta.' Brian Tyson now has an additional 2,088,361 shares. Does make you wonder why EK bought nearly 1.5m shares before if she was due another 20m or so shares. Hopefully she will hold onto these now.
https://www.investegate.co.uk/tritax-eurobox-plc/rns/intention-to-float/201806140700053433R/ 300m IPO and Newgate are advising on this deal. .