Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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plus last RNS said they should do better with so many people staying in.
- sp was around 200p before virus.
Begs the question why is the sp not over 200p?
Also RNS said results should BEAT market expectations.
Only up 3.8% I hear you mutter!!#
All IMHO.
to people at home. On line games bound to do better with MILLIONS in doors! See the l;ast RNS here:-
https://www.investegate.co.uk/CompData.aspx?code=SUMO&tab=announcements
This SUMO Co said that yesterday morning in the RNS.
It's firking obvious they will do better FFS!
All INHO.
And we are not talking a few hundred thousand at how here are we.
We have 65m people give or take.
So even if we assume only half have stayed in that is 32.5 million people anf ro the next x months.........................
Call me MAD but it seens to me Companies like SUM are going to benefit rather a lot.#
All IMHO.
they stated people staying at home should BENEFIT them as they get royalties from some of the released video games. Also their staff can obvioulsy work from home as they use COMPUTERS to do their work of course!!! LOL!!! FTSE down 5.8%, SUMO up 1%.
millions of people staying at home and gettin BORED. On line gaming is great fun.
I’m not interested in Sumo Group for divis - all I want them to do is create outstanding games and SLOWLY grow. Bought a nice wad at around 125.50.
yesterday morning:-
"Our people are adapting well to home working and we have a strong and resilient business with £23.6m cash and a relatively low risk business model. Demand for great video games content is forecast to grow and may even strengthen as a result of the "stay at home" measures taken to protect our health through the COVID-19 pandemic. As such, we are confident in our strategy and ability to continue generating strong returns for our stakeholders in the longer term. We are grateful to our team for their resilience, our clients for their support and our investors for their forbearance."
All IMHO.
should do well in this scenario. FFS how many bored people are at home now downloading video games? Is it 2 billion people in the World staying in? Companies like SUMO must benefit surely! They think so, look at their last RNS yesterday morning!.
All IMHO.
As over a billion staying indoors and they service the video game market!!!!!!!!!!!!!!!!!!!
How many more are bored and signing up???
Correction:-
as over a billion people are staying in and they may well be signing up to play video games! Penny dropped??
Frm the RNS YESTERDAY MORNING:-
"Paradoxically, the COVID-19 pandemic is expected to increase global video games software revenues, as people staying at home play more games. As such, it is reasonable to expect some improvement in royalty income on games already published and which have increased sales or usage with the current restrictions on movement in many countries. The quantum of such improvement is not yet clear."
Should od better, yet shares down from around 200p....... Currently 157 to buy.
All IMHO.
as over a billion people are staying in and they well be signing up to play video games! Penny dropped??
Frm the RNS THIS MORNING:-
"Paradoxically, the COVID-19 pandemic is expected to increase global video games software revenues, as people staying at home play more games. As such, it is reasonable to expect some improvement in royalty income on games already published and which have increased sales or usage with the current restrictions on movement in many countries. The quantum of such improvement is not yet clear."
Should od better, yet shares down from around 200p....... Currently 157 to buy.
All IMHO.
Frm the RNS THIS MORNING:-
"Paradoxically, the COVID-19 pandemic is expected to increase global video games software revenues, as people staying at home play more games. As such, it is reasonable to expect some improvement in royalty income on games already published and which have increased sales or usage with the current restrictions on movement in many countries. The quantum of such improvement is not yet clear."
Should od better, yet shares down from around 200p....... Currently 157 to buy.
All IMHO.
.
It said:-
"As previously announced on 22 January 2020, FY19 results are expected to be at least in line with market expectations. The Group is today providing an update on its unaudited results in FY19, the effects of COVID-19 and current trading in the year ending 31 December 2020 ("FY20").".
They are working from home as well which is relatively easy for software Co's.
Before the virus they were around 200p.
All IMHO.
and the CEO and COO selling a very large amount doesn't actually inspire confidence does it !
Did call the short here above £2. It remains ridiculously overpriced for such valuation metrics
Was certainly looking very toppy above £2. Profit taking should now be kicking in as the price has overshot itself
SUMO GROUP PLC
(the "Company")
Issue of Equity and Total Voting Rights
Issue of Deferred Consideration Shares
Sumo Group plc (AIM: SUMO) announces the issue of 1,162,791 Ordinary Shares as deferred consideration for the acquisition of Red Kite Games Limited. These shares are being issued on the first anniversary of the completion of the acquisition in accordance with the terms of the acquisition and as previously announced represent £1.5m of deferred consideration based on the share price of 129p at the date of acquisition.
The 1,162,791 Ordinary Shares issued will rank pari pasu with the Company's existing Ordinary Shares and admission to trading on AIM is expected to take place on or around 3 February 2020 ("Admission").
Total Voting Rights
The Company confirms that following Admission, the Company will have 151,768,943 ordinary shares of £0.01 each ("Ordinary Shares") in issue, with one voting right each.
The Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights is therefore 151,768,943.
Accordingly, this figure may be used by shareholders as a denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.......
.
Carl Cavers, Chief Executive Officer of Sumo Group, said:
"2019 was another busy and successful year for Sumo Group and one in which we generated strong growth across all areas of the business. We acquired Red Kite Games, opened new studios in Leamington Spa and Warrington and relocated the Red Kite Games studio from Huddersfield to the talent hot-spot of central Leeds. Five studios have been added to the Group since IPO and we now operate globally from 10 studios across the UK, India and Canada. Our appetite to deliver further sustainable growth remains strong and we continue to explore opportunities, both in the UK and overseas, to acquire businesses which show a strong cultural fit with our Group and are based in desirable locations."
"In November, we announced that Tencent Holdings Limited ("Tencent") had acquired a near 10% shareholding in the Group from Perwyn Bidco (UK) Limited. We are delighted by this investment and look forward to exploring development opportunities with Tencent going forward."
"We are seeing many exciting opportunities to deliver more growth in our core markets, served by Sumo Digital and Atomhawk, and I am very pleased with the progress the business is making.
"The Board looks forward to announcing the final results on 1 April and providing shareholders with a full update on the Group's progress."
PRE-CLOSE TRADING UPDATE AND NOTICE OF RESULTS
FY2019 at least in line with management expectations
Sumo Group, the award-winning provider of creative and development services to the video games and entertainment industries, announces that it will report its final results for the full year ended 31 December 2019, which are expected to be at least in line with market expectations, on Wednesday 1 April 2020.
The Board is pleased to report that a number of significant contracts were secured towards the end of 2019 which underpin the Group's financial forecasts for the year ahead.
At 31 December 2019, the Group had positive cash balances of £12.9m and employed 766 people, an increase of 174 from the figure at the previous year end.
https://www.lse.co.uk/rns/SUMO/block-listing-update-fdfr1xvb775qgcz.html
Been in this since early 2019
Yes the mail midas section was also tipping this in 2019 aswell...been in this about 12 months ago but looking forward forward to 2020 here....