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DIRECTOR DEALINGS SUMMARY: Vitesse CEO Buys 11% Stake On Appointment Fri, 11th Aug 2017 17:11 LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday. ---------- Vitesse Media said it has appointed Simon Stilwell as chief executive officer with immediate effect to replace Niki Baker, who is moving to become managing director for Events and Marketing. She was chief executive for five years since 2012. Stilwell's most recent role was director of online vintage hunting clothing retailer The Vintage Tack Room Ltd since 2016. Prior to that he was chief executive officer of investment bank Liberum which he co-founded in 2007, for five years from 2010 to 2015. Also, Stilwell and Liontrust Asset Management fund manager Anthony Cross each purchased on Friday 6.4 million and 7.0 million shares respectively, at a price of 2.5 pence per share. Following the transaction, both men hold 7.0 million shares each, representing an 11% stake in the company. Meanwhile, former executive chairman Chris Ingram sold 8.4 million shares, reducing his holding to 8.4 million shares, or a 13% interest, and former chairman and company founder Sara Williams sold 5.0 million shares, bringing down her holdings to 3.4 million shares, translating to a 6.0% stake. Furthermore, Vitesse Media said it is considering the placing of shares in order to rise GBP2.0 million to repay the company's current indebtedness, fund the development of the Events business and expand the capabilities of Vitesse's existing digital platforms. The placing is subject to shareholder approval, however, and Stilwell and Cross have already announced they be collectively investing GBP500,000 in the fundraising. The announcement came soon after the digital media and events company reported a slightly widened loss for its recently ended financial period despite higher revenue. Vitesse shares closed up 39% at 2.61p Friday.
Anthony and Simon are an impressive duo. Looking at Anthony's track record, he can definitely spot a good investment. So, investing his own money is a fantastic show of confidence. This may have been a shit I the dark for, primarily due to low mcap and low amount of shares. It may well turn out to be one if the better choices I've made.
just reading final results - quite literally made a "paper loss" " Non-recurring costs mainly comprise the impairment of the Group's discontinued crowdfunding project; the impairment of some of the Group's websites (prior to their relaunch); and the write-off of paper stock for the Group's printed magazines" but more interesting was the admin expenses, strange how it was almost bang on the gross profits total. should be an easy place to cut back or work more efficiently in the future. Gross profit 1,742,065 Administrative expenses (1,753,743)
Anthony cross. https://www.trustnet.com/managers/factsheet/Anthony-Cross/utoeic/U/00000CRO02/
Info on simon as he left Liberum https://www.ft.com/content/5be19418-c0e7-11e4-876d-00144feab7de
.. near term.
was hoping to at least double my investment this morning but happy to stick with this as all looks good for the near tern ... have a good weekend all.
Slight change of wording re appointments.
No it was an amendment to Nikki's job role. Think these directors are looking to take over company. 10.9% each that we know about plus 0.5m to be invested in placing. Ummm
Vitesse Media Shares Soar As Revenue Rises,
3rd RNS same as second, hope that wasn't supposed to be about something else
Wonder it we'll see any chunky delayed buys?
Not supprised with the new guys buying 350k of stock at 2.5p and plannng to put another 500k in. It's more like an organised take over
someone buying in the back ground.
So quiet this afternoon. Opposite to CFSG. Hope placing news comes soon and it's at a premium.
Big buys since this morning's antics. Makes it all the more exciting, with someone paying 3.4 for 23k worth. Looking forward to the placing, I would predict that it will be very well received. I wonder when it will be announced? I would imagine sooner rather than later
Looking good for a strong close.
Once placing announced this will go up more.
Gone very quiet. Another 100% would be nice
be patient,, there back from lunch..
I thought about selling at around 3.2. Decided to pass up on that. I've not been in a share with so few available and such low market cap. I want to see where this goes
i should hope not...lol
It wont let me buy over £25k worth
i think there all over at csf.. they will be back soon..
MM's games ?