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http://www.gorkana.com/2016/10/feather-black-hires-porta-agencies/ Thirteen and Publicasity have won a joint pitch for Feather and Black. Publicasity seem to be picking up a lot of big brand work lately. Seen 2-3 new contracts for them lately. Plus a lot of Twitter feed too. Seems the fall in share is a mix of traders still swapping shares. 250k trade looks like a buy?
One reason they made DW chairman is he is the founder of Porta and has been steering the ship lately. So he can still be useful here. If they force him out they have to find a new chairman and pay him off. There is a good article on this is money from a Fidelity manager how they look for stocks that are depressed but for no good reason. Porta certainly falls into that group.
I think GW has taken a punt here to lower his average. His average would of been 8-13p? There has been about 2.4m buys over 2 days if you include all rounded 200k, 250k and 500k trades. Works out at about 0.8% of Porta. My guess this is GW. I think he will do an TR-1 RNS on Monday or Tuesday to announce 6%. So he would have doubled his stake from 3.13% to 6% or just over. Purely based on the numbers and fact he was responsible for most of the last 7m buys.
Lets take the positives guys but remember that poor comms and corporate indecisiveness have caused the share to be depressed as it has. The shares were struck at 10p and anything less than that price has effectively put a halt to any further acquisitions. I agree the refinance will be delivered (there must have been quite a lot of worry about Bob's health/intentions/etc) and this has also stalled progress. But Steffan, GG and Dave will unravel it and the market knows this. Not to mention the others that have been hired.Its a talent business. It was only January 2015 that the Daily Mail tipped PTCM as one of its buys of the year when the share price was 18p and they said value was 21p. I've been buying like many of you sub 4p believing the share over sold partly because the management had their hands tied. I also agree that Steffan is going to be a great CEO who I think will focus the group on IR and PA. some of the other business' swim in lower value, very competitive pools. Let's see but I am sure we will see 10p by Easter at the absolute latest. Yes, a great couple of days - now the directors need to buy in spades.
Reading between the lines I think Steffan will keep focusing on the talent and DW may focus on the refinance. Mainly due to exec Charman status and comments made about Steffan. Looks like they are using DW to bed him into the role. I suspect the announcement was also made to calm market fear about who long term would have the role. 'This accumulation of talent is allowing us to be considered for and to win ever more significant client assignments. Steffan's initial focus will be to ensure that this positive momentum continues to gather pace.' Gorkana have confirmed the Sompo news. http://www.gorkana.com/2016/10/newgate-advises-sompo-on-endurance-acquisition/ 'Steffan Williams, Newgate group managing director, senior partner Charlie Chichester and associate partner Clotilde Gros are leading on the acquisition brief, which involves the consultancy’s financial, corporate and public affairs divisions. Endurance Speciality Holdings is a Bermuda-based provider of property and casualty insurance and reinsurance. SOMPO and Endurance are listed in Tokyo and New York, respectively. The Endurance transaction is the largest Newgate has worked on this year to date.' So looks like this was a very nice piece of work to pick up. Nearly 40-50% jump in share over 2 days. Based on the management change? The over hang clearing or does someone know something?
As predicted - the Steffan effect is kicking in - hope lots of PI's got in as it saucered. All we need now is our CEO to renegotiate the loan debt and we're in blue sky next week too. Great news - GLA.
Buys still coming in. Helped by fact Porta has been in big mover list for 2 days now.
Up 16%. 1.2m trades. 5-6p likely.
Nearly 750k bought today.LSe is slow to pick up. GW still buying.
N+1 Singer has reiterated Porta Communications PLC (LON:PTCM) to Corporate in a statement released on 10/13/2016. Has anyone seen this broker report?? I think they normally do put a price on it somewhere. Or at least projections on revenue. Hmmmm.
going was a certainty. ill health? hopefully not for him and family , but all the best regardless. been well touted by many posters that stefan would take the reins here. lets hope the new way forward has begun. gla
6.25m of more late trades have shown up today for the 11 Oct. This fits in with my idea a fund or someone was selling out. GW may have soaked up most of this stock at bargain prices. Certainly one of the 2m trades was likely a buy. The trade range would of been 3-3.25p. So this could explain where GW 6m trades have come from. It's possible we may get another large trade appear tomorrow if a fund has just cleared out. With overhang gone the share shoots up 20%. We know someone had sold 2.75M share after 29th or so. 3m or so more makes 6m. So they may have sold out now.
So todays changes open up many opportunities. Firstly Bob Morton can buy and sell shares freely. If his health is getting worse then it seems unlikely he would buy more or takeover Porta here. Then again if he sees an investment opportunity why wouldn't he? His sons are also involved in the firm so it is not just about him. Secondly the buys are flooding in now. There are 750k of late trades all at N/A but certainly buys as the price keeps going up. Makes nearly 2m shares bought today across LSE and ISDX. Big amount considering no financial data has really been announced here. Watch out for Gary Wyatt and Fidelity. Remember GW and F only have to do an RNS if they reach 6% now. So Gary could buy 2-3M more shares and make no announcement. the 3x 250k trades could well be him or another investor. Certainly the same buyer. As Adastra keeps saying this looks like a classic turnaround situation. We could get several firms doing an RNS about holdings here. Leading up to the big RNS announcing a refinance deal. This could then be followed by directors mopping up millions of shares. This all looks far too planned to me. Heaven knows why Emma Kane sold out. I said last night that I thought this share had reached a point where millions could be traded. It had 100% been over sold. See what tomorrow brings but I think more news will follow soon,
Who knows if they are friends. I predicted Steffan would take over the moment they hired him. Investor's page has been updated and Bob's holdings are no longer under directors. Gary Wyatt may have timed his buys perfectly. Nearly 750k of buys today. He could still be buying. I think fidelity may too. So now Bob has left this frees Porta to refinance. New CEO who will triumphantly announce the refinance. Pr in motion.
Adastra is right about Gary Wright. Seems he is a pal of NED Raymond McKeeve. These two were allocated some stock a couple of years ago for something, though I can't find out what.
I have no idea. I tried googling him yesterday. Inconclusive results.
GT - is this Gary Wyatt the one I think it is; owner/founder of Wyatts and principal of White Cloud Capital? If so, his increasing interest could possibly be very relevant/helpful in loan debt renegotiation as a 5% plus holder. Just a thought.
I only call Gary Wyatt last night. Based on 1m trades and the fact his holding had edged up 0.09%. Who only tops up such a small amount. The changes made make a lot of sense. Share price here could quickly double.
Now let's see this baby grow. Two good RNS on one day. Renegotiated loan debt, top of the agenda. This is now playing out as predicted here. The explosion in Newgate tweets since Brexit indicates the appetite for an integrated communications company with a handle on the market post-Brexit. Right crew, right management, right place, right time. Onward and very much upward. This is the first of much more good news IMO.
This reshuffle should be viewed as very positive news. All long term holders will appreciate that, without Bob, Porta would not have achieved the 'critical mass' that is now gaining momentum. Thanks Bob. David Wright has grown it from a collection of start-ups to a £35 m turnover, which is no mean feat. Remember that Newgate Australia was a low cost start-up, now a star performer. Steffan Williams was brought on board with specific remits of bigger clients and senior hires. Bigger clients are coming in and his hires have been cash-generative 'from day one' with no head-hunting fees needed. Promotion to CEO is an excellent move as it firmly stamps his style on the future. With DW as chairman he has a seasoned head at the table and a string of influential colleagues by his side. This move really does indicate a rejuvenation that is clearly aimed at attracting new investors. Nice to see GT was correct in spotting Gary Wyatt as the big share buyer in the wings - obviously sees this as a bargain. Bob, despite stepping down as chairman, has watched this baby crawl and walk, I'm sure he'll want to watch it run. If this was the move preventing director buying, then we may now start to see some action; sentiment should also start to focus on prospects now rather than old school. Interesting.
And dave was bound to take a back seat at some stage.......
They have let Bob go and Steffan is in charge. I wonder what Bob will do with his shares. Hmm. I did wonder when bob would step down. Lots of news today.
Gary Wyatt up to 5.2%. I saw that coming yesterday.