Ebiquity Share Price (EBQ)

Perpetual(Sydney,Australia) has dumped around half its holding starting just ahead of the recent Interims. Another 3.4m shares still to sell if it intends to complete it's exit.I would hope that our Brokers would be endeavouring to hurry that process along by finding a buyer (or buyers) so that it does not remain a drag on the share price

The outlook as outlined in the .Interim Statement provides encouragement that they are over the worst while navigating their planned transition in what was a tricky 1st Half.

I am inclined to believe that the future is rosier provided they continue to actively transition and reduce their debt level as they are forecasting.

For those not aware there is on Wednesday 2nd October an Investor Meets Company Presentation(IMC) at 1.45 BST.

Before this update I had been considering whether to start building a holding here again, too much talk of H2 weighting now though for my liking.

I put a note in the calendar to check again in 6 months...

Group revenue is expected to have declined by 7% to £37.9 million (H1 2023: £40.6 million) primarily due to some large clients continuing to reduce budgets. profits for the full year will be below its previous expectations.

Shares will be issuee shares as part of the consideration for acquisitions still left to be paid for.

I AGREE-steady as she goes!

Positive movement accompanied by a decent supply of stock should give encouragement to potential larger buyers . On the way, but may take a couple more years to deliver results what they should be capable of and a somewhat higher share price that reflects the turn-around by then in their fortunes. Meantime , hopefully no more dilution for existing holders from giving away shares at the current level.