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Usual 7am RNS not released. Thoughts?
That’s a first. Selling placing shares via another placing not heard that one before what happens if the ones buying the placing shares also want to sell will they have another placing lol.
Any L2 or graph info?
The share price is becoming an anathema since the Rhythm merger. Mr Levy as well as Mr Tal are selling out at what can only be described as a distressed share price. Emotions and the human ego run very high over money, and as a PI holder mine are fearing the worse. That said, the company reported adjusted eps for 2018 (in pence) of about 40p (depending on exchange rate calc.) and forecasts are for about flattish for 2019 (Tremor up a bit, mobile down a bit, and Rhythm hopefully holding ground till fully integrated and synergies realised in 2020). In normal circumstances we should have a PER of at least 10, and going on 15 - ie 400p to 600p share price.
It is not just an anathema but also an anomaly. It is difficult to know or judge what to do. The evidence does not fit the verdict. I am not a trader and have been here before with a number of shares over the past 25 years of investing and held to my long term convictions - always been well rewarded for doing so, five to ten years down the line. Ad tec is a new industry, currently beset with problems. But streaming TV is here to stay, the industry will clean up (it has to) for the benefit of the consumer, the advertisers and the remaining players in the sector. It is very, very early days. The potential for the companies that survive, globally, is huge. Taptica has the cash pile to invest in the technology which is needed to get state of the art platforms / systems that will deliver on this vision. I am sending my jury out of the room and don't expect them back in the courtroom for at least three to five years.
Holding this now is a matter of faith - both in terms of the management and in how the adtec industry grows, develops and matures.
PS. I also wish the share discussion boards in this company would likewise grow, develop and mature.
Several Taptica Shareholders To Sell About 11% Of Company In Placing (ALLISS)
from Alliance News | 24th April 2019 11:47
finnCap Group PLC said Wednesday it has been appointed sole bookrunner by several large shareholders in Israeli mobile advertising technology company Taptica International Ltd to sell about 11% of the company's shares.
Shares in Taptica were down 8.7% at 146.10 pence each.
Eitan Epstein & Shirley Dahan Trust and Hagia Tal, on behalf of MTD PTE Ltd, and Ehud Levy, on behalf of Smart & Simple Ltd, intend to sell up to 14.3 million shares in Taptica, about 10.6% of Taptica's issued share capital.
The sole beneficial owner of MTD PTE is Hagai Tal and the sole beneficial owner of Smart & Simple is Ehud Levy.
The sellers have agreed to a block trade agreement. The pricing of the bookbuild will be decided later.
The disposal of the shares will be though a placing to institutional investors, other professional investors and the existing company share buyback.
Taptica will not receive any proceeds from the placing.
In February, Taptica agreed a GBP135 million takeover of peer RhythmOne in an all-share merger to create a combined company worth about GBP300 million.
By Paul McGowan; paulmcgowan@alliancenews.com
From stt1
"How will Sizmek continue to operate whilst they restructure? Especially as they agreed to sell their dmp & dsp days ago for ONLY $36m..."
Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs, debts, and assets. Named after the U.S. bankruptcy code 11, corporations generally file Chapter 11 if they require time to restructure their debts. This version of bankruptcy gives the debtor a fresh start.
Will be very surprised if Tosca don’t hoover up at least half the offering.
i expect strong demand for the placing,,hopefully the short on this will now close
Also didn’t TAP release a positive RNS at start 2019 stating good results on Gross and EBIT? With positive outlook? Why so much negative comments on these boards?
I agree. I would hope the book build completes quickly and we hear later today the price paid for the Placing. I expect the Placing will be at a discount to yesterday’s closing sp of 1.60 unless there is extraordinary institutional demand.
LONDON (Alliance News) - Taptica International Ltd said Chief Executive Hagai Tal is resigning having been found liable for statements made in relation to the Plimus Inc sale.
Tal was both a shareholder and CEO of Plimus at the time of is August 2011 sale.
"The plaintiffs in the case are entitled to restitution for breaches of certain representations and warranties," Taptica International said.
Well, I guess Mr Tal has accumulated considerable immediate and future costs for the above.
An appeal + (possible) restitution + legal fees…sounds expensive to me. Bmac
Will be interesting how many of this placing are bought by the company under the buy back. Should indicate level of institutional demand. No doubt Tosca will have some but could easily see 2m bought back here
What does this mean?
Tricky,
" plus Chapter 11 Bankruptcy means Sizmek will continue to operate while it restructures its debts."
You're a long way behind on the news...
How will Sizmek continue to operate whilst they restructure? Especially as they agreed to sell their dmp & dsp days ago for ONLY $36m...
"Sizmek has agreed to sell its data management and demand-side platforms to Zeta Global in a deal that will see the latter pay up to $36 million for the assets. The proposed private sale was announced late on Friday afternoon."
https://www.adweek.com/programmatic/zeta-global-to-purchase-sizmek-assets-in-36-million-deal/
with the ad server and contextual advertising capabilities still up for sale...
"Other aspects of Sizmek’s ad-tech offering are still up for sale, with its ad server and contextual advertising capabilities thought to be a highly prized asset for potential suitors."
Did not R1 take Dataxu to court for non-payment and the latter counter-sued alleging over-charging.
Just shows how difficult it can be to get your invoices paid.
It's all down to good management just like a Bank offering credit to customers or not as the case maybe.
Mistakes are made...
Credit terms and cash-flow within any group of interrelated businesses have to be managed realistically.
It's up to the SSP's to decide how to negotiate the invoice terms with the DSP's.
Fronting the cost of inventory before receiving payment from marketers can easily lead to problems but this is nothing new, plus Chapter 11 Bankruptcy means Sizmek will continue to operate while it restructures its debts.
STT- doesn’t give a two hoots about the Ad-tech ecosystem and what happens to other ad-tech companies. His sole intention and purpose for posting about Sizmek (going in to chapter 11) is purely to imply parallels with TAP and hence create doubt and fear.
Isnt that so my little oily friend ?
Eddie
stt1 , The expert in the ad tech business but can't afford to buy a single share in any company due to the fact he is pink lint skint.
Posting sttih on this board on a daily basis and what do admin do about it SFA.
The reason why Sizmek's filing for Chapter 11 bankruptcy is a concern for players in the ad tech ecosystem...
Sizmek: the first domino to fall?
"Sizmek’s bankruptcy filing highlighted the scale of its liabilities and the shaky grounding on which ad tech firms’ financial positions are built as they front the cost of inventory before they themselves receive payment from marketers.
Axios noted how publishers on the supply-side of the digital ad ecosystem float the debts of demand-side vendors like Sizmek on a monthly basis, with the risk that a default could leave them out of pocket to the tune of millions of dollars."
https://www.warc.com/newsandopinion/news/sizmek_the_first_domino_to_fall/41963
Farruggia - Thanks for the quick response and guidance. That works through the numbers perfectly!
And prior to this we had a consolidation as described below.
The Company has consolidated its Share Capital. Under the terms of the Consolidation every 10 Shares as at the close of business on 25 September 2017 were consolidated into 1 new Share.
So we’ve been shafted at every opportunity:-(
Regards
Basically you surrendered 33 RTHM shares to receive 28 TAP shares
330 for 280
3330 for 2280
Etc etc
Regards
Hi, I'm looking for some assistance please on understanding the various share consolidations/and equity restructures that have happened since 2008.
I have recently sold a number of TAP shares that I've held since the 2008 era of BLNX, and trying to understand/calculate the purchase cost attached to these. To complicate matters further, my trading platform has merged and also switched it's platform twice in this period meaning archived transactions and it's nigh on impossible for me to find the relevant transactions!
I also transferred a holding to another party who also held BLNX shares and they have now sold but now trying to work out which were which and how much is subject to CGT etc...
My recollection is as follows. BLNX became RTHM, RTHM undertook a share consolidation (?), then RTHM recently became TAP? For example how may TAP shares would I hold today from an initial holding of 14000 BLNX? Any assistance would be very much appreciated!
" he will continue to plague us with his ‘guidance’."
That sums him up in a nutshell - just nibbling away like a rodent on something he can't get enough of.
He's a real nowhere man
Sitting in his nowhere land
Making all his nowhere plans for nobody...
Some time back I posted here a long list of posts from our resident antagonist. It had been extracted and compiled from the ADVFM board and collated courtesy of Barkboo. It was a ‘date and timed’ record of our resident disrupter’s stated purchases in Blinkx/R1. At that time back in 2014, he was openly telling everyone about his Blinkx share purchases at around £2.20 old money (£22 today) and that record showed that he continued to buy Blinkx all the way down to around 70p while at the same time telling readers that the sp was going to £3.00….here is one of them, 31 Mar'14 - 22:15 - 7309 of 13887, I disagree regarding the bid... currently still 300p possible," (that’s £30 in today’s money). The same record showed that he eventually sold a chunk of those shares a few years back for just 50p and the remainder of that R1 investment he sold at around 20p.
Our resident disruptor also invested heavily in Stanley Gibbons. Readers can look at the history of that sp over the last 5 years if they want a real good belly laugh but it is his latest flurry into Totally Plc that gives me the greatest pleasure. At the time when he posted this (see below) on the ADVFM bulletin board, the Totally Plc sp was around 72p, it is currently struggling to hold 11p and it is my reckoning that Totally will need further cash sooner or later in order to keep going. So further dilution on its way for Totally and with it another hit to the sp.
Now, with the above 72p in mind, this post from our resident antagonist was also copied from the ADVFM board…..
Totally. 2 Mar '14 - 16:40 - I've put my money where my mouth is... I've a huge amount invested and all in my ISA...
And now take a look at this post from him four years later on the same board…. clearly, he has forgotten what he said earlier….
Totally. 03/7/2018. 12:39 savage, thanks... who was the investment company, buying in at 55p, so people know to avoid them....
It is most unfortunate, but this guy knows that there is nothing that can be done to stop the pleasure he reaps from aggravating everyone here and despite the fact that he has no record of successful investing he will continue to plague us with his ‘guidance’.
Personally, I scroll past all posts annotated with his name. It’s amazing how comforting that is. I can highly recommend it. Bmac