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At the risk of sounding like a ramp... Nice!!! I'm happy with that, has removed any worry completely for me, and nice to think I got at least one batch lower than that too. they have just raised more than the market cap of the company, in a single placing. And At a better price then the spread if you sold at the moment. This money will change the company. Hope the market agrees with me good luck all next week and going forward.
Placing at 2p. Not too bad. Out the way now. Boom next week maybe lol.
bought at 2.4p Below dirs purchase. Looks like stilwell has his plans
Sorry, I are asked bigbear as he is. It's just a question.
Hi Birdseye, i am not a paid premium member on LSE so unfortunately do not have access to private messaging
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"The Board considers that there may be opportunities in the next twelve months to acquire assets cheaply from other media businesses that are in difficulty or that are refocusing on other activities. "
£215,205.44 + £64,561.63 = £279,767.07
Issues of share capital (Resolutions 6 and 7) The existing power granted to the Directors to allot shares and to disapply these statutory pre-emption rights expires at the conclusion of the AGM. Accordingly, an Ordinary Resolution will be proposed to renew the Directors' authority to allot shares up to an aggregate nominal amount of £215,205.44 (being one third of the issued ordinary share capital at the date of this report). This authority will expire at the earlier of the conclusion of the AGM to be held next year, when the Directors intend to seek renewal of the authority, and 26 December 2018. In addition a Special Resolution will be proposed at the AGM to renew the Directors' powers to allot shares for cash up to an aggregate nominal value of £64,561.63 (being 10% of the nominal value of the Company's ordinary issued share capital) without first offering such shares to existing shareholders. The Board considers that there may be opportunities in the next twelve months to acquire assets cheaply from other media businesses that are in difficulty or that are refocusing on other activities. To ensure that the Company can take advantage of these potential opportunities, the Board considers it important that it can move both quickly and cheaply. The Company may also wish to take advantage of changes in market conditions by developing our technology or infrastructure. The Special Resolution also enables the Company, in the event of a rights issue, to meet certain practical difficulties which may arise in connection with fractional entitlements or in respect of overseas shareholders as a result of local laws and which prevent shares from being issued strictly pro rata. This authority will expire at the earlier of the conclusion of the AGM to be held next year, when the Directors intend to seek renewal of the authority, and 26 December 2018.
Simon Stilwell and Anthony Cross have each acquired 6,373,799 and 7,013,799 existing ordinary shares of 1 penny each in the Company ("Ordinary Shares") respectively, at 2.5 pence per Ordinary Share. Simon Stilwell and Anthony Cross' resulting holdings are 7,013,799 and 7,013,799 Ordinary Shares respectively, each representing approximately 10.9 per cent. of the Company's issued share capital. The Company also announces that subject to shareholder approval it is considering an issue of new Ordinary Shares by way of a placing 🔸to raise up to £2.0 million,🔸 the proceeds of which will be used to repay the Company's current indebtedness and for working capital purposes. In particular, the proceeds will be used to fund the development of the Company's Events business, including the successful 'Woman in.." series as well as expanding the capabilities of the Company's exisiting digital platforms and to fund new business development. The new business areas will concentrate on the provision of media and equity research for both institutional and private investors. The Company has been informed that Messrs Stilwell and Cross intend in aggregate to 🔸invest £0.5 million in the proposed fund raising. 🔸 A further announcement will be made in due course.
with 28million extra shares would raise £2mill at 7p Thats if they wished to raise at 7p! New dirs want to put a further £500k in the company.
That is what I have. 100k max at 2.4p!
The 215k and 65k are at "nominal value" and "issued ordinary share capital" the VIS shares are 1p par value shares. So ~£280k = ~28m new shares at 1p. If they did the issues at 2.5p they would raise around ~£700k. If they wanted to raise £2m they would have to raise at ~7p. If anyone can see what I'm getting at and I'm completely wrong please tell me.
Well I'm firmly over the 1% mark now. As has been said before 2.25p to buy vs 2.5p new director / investor buy in. Good luck all I think we got a winner.
1/3rd capital res 6 res 7 10% of capital Maybe the dirs want to invest 500k with no further dilution. Makes sense however we shall wait details
Hummm was exactly what I was thinking, they want a £280k placing first but if they do that then the two new guys (if they invested and combined holdings) could be over 30% so Is a mandatory take over offer possible?
Hmmm... a bit strange that I thought the placing was £2mill, not £200k
http://www.vitessemedia.co.uk/corporate/pr-and-news/2551021/notice-of-annual-general-meeting-2017.thtml any comments? To me it does not look like a big placing
does that suggest a big fundraise? Does not look like it? Maybe new investors want to keep share structure in tact to a point?
That would give 2 weeks notice before the AGM where it could be voted on. Or it could be another month / year. Zzz "The Company's Annual General Meeting is due to be held on 26 September 2017 at 10.00am at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London"
About Vitesse Media plc Vitesse Media plc is a leading B2B media business specialising in events, digital activities, data and research for the technology, SME business and high-net-worth investment industries. Its flagship titles include SmallBusiness.co.uk, Growth Company Investor, Information Age, GrowthBusiness.co.uk and What Investment. Vitesse Media is also responsible for a growing portfolio of high-profile events, including The Quoted Company Awards and 'Women in …' Awards. Vitesse Media is focused on developing innovative products and services while evaluating further business opportunities in the fragmented B2B and B2C media and Equity space. Vitesse Media is quoted on AIM. Low shares and recent support of 3.38, lots happening here, news soon.
SmallBusiness.co.uk built on its revered position as the UK’s number one website for small businesses Traffic on SmallBusiness.co.uk has grown significantly, with page views up by 38% on the previous year and particular growth of 63% year-on-year in the last six months. Page views on GrowthBusiness.co.uk grew by 23.5% year-on-year in the last six months of the financial year. comprehensive report. worth a read and we have new direction with liberium co founder
beginning a new act
David Smith, Chairman of Vitesse, commented: "On behalf of the Board, I am pleased to welcome Simon to the Company and look forward to working with him in shaping the future direction of business. I wish to place on record the Board's appreciation of Niki's role as Chief Executive over the past 5 years and look forward to her continuing contribution leading our growing events business." Appendix: disclosures required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies Simon Leslie Stilwell (aged 48), is currently and has in the past 5 years been a director of the following companies: Current directorships Former directorships Bedham Holdings Limited ALTLending (UK) Limited Little Forest Folk Too Limited LAF Advisory Limited Vintage Tack Room Limited LAX1 Limited LAX2 Limited LAX3 Limited Liberum Alternative Finance Limited Liberum ALTFI Limited Liberum Capital Limited Liberum Capital Nominees Limited Liberum Foundation Liberum Limited Little Forest Folk Limited Optic Systems Limited