Member Info for Bazzaman

Canaccord also supported Globo & looked what happened to them. Shareprophets exposed Globo even when many others (including Investors Chronicle) continue to rate them an unbelievable buy. Unbelievable is the key, it looks too good & therefore probably is. No smoke without fire, read the article & make you own minds up. http://www.shareprophets.com/views/16952/from-athens-with-love-internetq-my-target-price-is-1-drachma

Read all about it.............http://www.shareprophets.com/views/16952/from-athens-with-love-internetq-my-target-price-is-1-drachma

Into FTSE 250 should help this tick-up nicely in coming weeks.

to zero & oblivion.

Cash is king & at current burn rate this company could be nudder come summer 2016. Not for me.

Dangerous to catch a falling knife, wise move.

Not sure the market agrees with them though.

Low volumes, unable to sustain the levels.

Some buyers coming back, highest for 2 weeks.

FWIW I don't think the shares would have fallen 25% if there was unlikely to be an impact. Management are either being naive or putting on a brave face IMO. This has now turned & future earnings will undoubtedly be impacted by Autumn statement changes. Even at these prices the stock is not for me but BOL to those that decide to stay.

Back in now the SP has come down to a decent level

MMs having a laugh, trying to drum up business by taking the SP down 5p on zero trading.

The remaining money from the rights issue will be used to fund other acquisition opportunities in the future. Fully tapping the commercial potential of Peppa Pig may help address weak cash flow, one of the main issues cited by the company’s detractors. Free cash flow performance improved to an outflow of £16.2 million in the six months to 30 September from £58.6 million a year earlier. Though this partly reflects reduced investment in new content it is at least a step in the right direction. The other key concern is the performance of the film arm which has endured three years of flat or declining profit. A weak first half in the current financial year is down to a 28% drop in the number of theatrical releases handled by Entertainment One. The abundance of blockbuster movies on the big screen in 2015 means many smaller films handled by Entertainment are being pushed into 2016 so as to avoid competing with major titles such as new episodes in the James Bond and Star Wars franchises. Willits says: ‘Next year we have one of the biggest slates seen to date with both our own creations and distributed titles.’ This includes the new film based on the Roald Dahl classic BFG directed by Steven Spielberg which the company is distributing as well as films attracting Oscar buzz including blacklisted screenwriter biopic Trumbo. Although the exit of investment trust Marwyn Value Investors (MVI) could be taken as a bearish signal it removes a significant share overhang. And Canada Pension Plan Investment Board which snapped up its remaining 17.9% stake has more capacity to support Entertainment One in any future fundraisings. In the wake of the de-rating its March 2017 price to earnings (PE) ratio stands at 10.0 times based on Investec’s forecasts. This is well below the long run average PE of around 13 to 14 and we think the stock can regain its former standing as it addresses cash flow concerns and returns to growth in its film division. On a multiple of 13.5 times earnings per share the stock would trade at 282p, implying more than 30% upside even if earnings were to stand still. Investec’s sum of the parts-based price target stands at 302p.

We believe the market has misunderstood the health of Entertainment One (ETO) since it undertook a £200 million rights issue and reported disappointing cash flow performance in its half-year results. Now looks an ideal time to buy the shares as the outlook for the company is very attractive in 2016. Entertainment One is a great way to play growing demand for TV and film content. On-demand streaming providers like Netflix (NFLX:NDQ) and Amazon (AMZN:NDQ) need c0ntent to attract and keep subscribers. The latest financial results from Entertainment One are by no means disaster territory. Interim results (17 Nov) revealed a weak performance from its film business where it is both a distributor and producer. Currency headwinds have added to the company’s woes and a discounted fundraising to buy a greater slice of the Peppa Pig pre-school brand empire has weighed on investors’ minds. Entertainment One used to have a joint share of the Peppa Pig brand with production company Astley Baker Davies (ABD). The company paid £140 million in September 2015 to buy 70% of ABD, thereby taking its stake in Peppa to 85%. Finance director Giles Willits says the controlling position means Entertainment One no longer has to consult a partner on how the brand is used. He believes the media group now has the freedom, and capability, to doubled Peppa Pig-related annual retail sales to $2 billion over the next five years. A full roll-out in China in 2016 and the commissioning of new episodes should support this goal.

http://www.sharesmagazine.co.uk/articles/switch-on-to-entertainment-one#.VlcOEPnhCM8. Strong bull case with sum f parts based price 302p. GLA

Inland is also taking a 25 per cent stake in a newly-formed upmarket housebuilding firm, Troy Homes, and making a further £2m available to it through interest bearing loan notes. The company is being led by Richard Werth, the former chief executive of Banner Homes, a premium homebuilder which was taken over by Cala Homes in March last year. Potentially, this is a smart way of ramping up Inland's housebuilding activities. The final announcement concerns the disposal of 1.5m shares in Inland by its chief executive Stephen Wicks. I am not concerned by this announcement as Mr Wicks still retains 14.7m shares, or 7.27 per cent of the issued share capital, so has a significant financial interest in his company. The bottom line is that I would expect Inland to offload further land holdings as the financial year progresses in order to free up cash for its housebuilding activities and crystallise the hidden value in its land. In turn, I feel that there is upside to analysts current year profit estimates. Add to that the likelihood of significant valuation gains on its land holdings when it adopts EPRA accounting standards, and I have no reason whatsoever to alter my initial target price of 80p, and a potential break-up value of 100p a share. On a bid-offer spread of 69.5p to 70p, I would run profits.

I updated the case just over a fortnight ago when I highlighted the hidden value in the company's balance sheet and the imminent move to EPRA accounting standards in the valuation of its land holdings ('Tapping into hidden value', 9 November 2015). However, there have been some important announcements from the company worth commenting on since then. Firstly, Inland is selling off the major part of its former RAF Stanbridge site in Leighton Buzzard, Bedfordshire to Catalyst Housing Association for £14m. Completion is due by the end of the month. The site is being sold for "significantly above book value" and Inland is retaining half an acre of land where it has plans to build a 4,000 sq ft food store that has been pre-let for £68,000 a year. In addition, it is retaining a small parcel of land for its future development potential. The benefit of the land sale is that it not only underpins analysts full-year pre-tax profit estimates of £16m for the 12 months to end June 2016, but frees up cash to reduce the finance charge and provide working capital to support Inland's housebuilding activities. At the end of June 2015, the company had gross borrowings of £56.3m offset by cash on its balance sheet of £21.4m. Net debt of £34.9m equates to 39 per cent of shareholders funds. So the cash proceeds from the site sale are significant at a quarter of gross borrowings. In addition, the company has just signed a new revolving credit facility of £20m with Barclays for its housebuilding developments and on which it has an option to draw down a further £10m if required. This will result in significant interest cost savings.

Lots of momentum for this stock. GLA

Added to my ISA portfolio, long-term hold. GLA.

Check out ShareProphets Tom Winnifrith, he gives a frank opinion on these type of stocks. BOL