Member Info for biffa

For 2018 Whitman have sales $264m, ebitda $14.8m and cash of $20m. Numis have $255m and $14m. Neither includes 7 weeks of yume. Next year ie.the year from 1st April 2018 they have $480m and ebitda of $58m! Cash $60m+. If they show everything is on track then support should follow. With such free cash flow coming in you have to expect a share buyback at the least. After this sp fall I don't want to see them buying anything but their own shares! Once they have a realistic sp they are welcome to use paper again.

Let's hope a decent trading update this week finally gives the funds on the side lines the green light to buy. The company has been quite clear with its guidence and with no early statement you have to expect a positive set of figures.

Only 2 months ago most of the major shareholders signed up for a deal which goes like this. T/0 £350m Pbt £35m Cash £20m Cost savings £10m M cap now £120m We can only assume everything in line as no rushed out update. All very odd.

I got it from the shareholder register via computershare. They are 40k shares short of a 10% holding, which strikes me as a calculated number. Now we have a new company secretary in place she may actually make an effort to sort out the dogs dinner which is our shareholder list.

Is there a read across from Taptica results yesterday to see where our valuation could be, and why Tosca and their chums are here? Tap just posted $34M EBITDA and has a market cap of �250M, 20 offices around the world etc etc. If we achieved the often forcast $60M EBITDA for this year coming from the combined Rone/Yume would the market apply the same rating �500M+or share price of approx �6.50? Only a year away so will the TU be the green light. Looks like the heavy hitters already have their seats at the table but a 200%+ increase is not to be sniffed at by anyone. My stop watch is on for Stt1 for brains positive response.

Company share holder list from Computershare. 25 Banks/Nominees hold just under 60M shares as you would expect. The nominee holdings for PI have almost collapsed as this has played out. To much of a coincidence that G/S have that holding. Other nom a/cs cover Tosca/Eric/R@M

Interesting goings on with our share register. We all know there has been an algo running, harvesting shares and pushing the price down. Up pops Goldman Sachs with a 9.95% holding, 40k short of 10%! Is it GS or a client . Either way we now know where the poor PI shares have gone. The current SP has clearly been manipulated so such a holding can be bought. If you add that to the additional 12% of Yume (�10M) that Tosca bought you would have to assume they see some value here. Perhaps the company should ask a few questions rather than us poor sods!

It didn't take much to move the bid from �1.70 to �1.89 today. Just shows how quickly this can go. I can't see any reason why Singer would come across as chairman (and 5%) if he didn't see a worthwhile future and return. I doubt he wants a stt1stain on his record. Same goes for Tosca spending another �10M on Yume stock. The reason Tosca haven't increased is the concert party already has it's 30% (24.2%+5.24%) Sub the 29.9% bid level so no rules broken.

About $250B last time I looked? Rone/Yume have set themselves up as a credible alternative to the super majors. Go figure!

That pretty much sums it up, which is why someone will make a move for us once the trading update is out and before the SP can react. It can only be good news for Rone that advertisers are already looking elsewhere after the Facebook fiasco. Now we have such massive reach and scale but secure in house data it could get quite exciting again.

Well he is at least 50% down already. Retail drip feed and tax loss selling. This will get taken out post trading update and pre results. Just a question of how much.

If you follow stt1 link you will see the court case is now over. 'the parties indicate that the case is settled in principle' etc etc You would assume ROne wanted this out of the way in this financial year which ends next week.

If you follow stt1 link you will see the court case is now over. 'the parties indicate that the case is settled in principle' etc etc You would assume ROne wanted this out of the way in this financial year which ends next week.

As far as i can see the entire value of Yume (m cap) has gone in less than 3 months. Not quite sure how the 70% Yume investors feel but probably the same as we do. Maybe it's time for Ted to climb out of his bunker and tell us WTF is going on?

You don't get a $100M line of credit with Silicon Valley Bank unless you have a decent story to tell. They have funded some of the very best.

If you look at any Tosca related transaction you will see Whitman Horward acting as their advisor. Search a few RNS and it is there for all to see. I've taken the view that in any situation involving Tosca/Rone, Whitman would be advising Tosca. It would be difficult for them to dismiss their own brokers view. Chinese walls, don't think so. I'm pretty certain we are at bottom normal services are about to resume.

I'm sure you are aware but the figures in that note are effectively from the company. M cap is now $230M with $10/20M of cash. Another $50M of cash coming in next financial year, March onwards. Perhaps they should start the buy back now?

A new note just out. Spoken to the company. Guidence intact. Takeover target. Buyback odds on.Whats not to like.

Bumper results from The Trade Desk for the year and final qtr. Our largest partner if I remember correctly, so has to be good for us? More interesting is the valuation of $2.5B on $100m EBITDA. Which brings us back to the often quoted 500/50/10 which was my feed back from the AGM (seems along time ago) The BOD are hell bent on achieving the $500m revs, $50m profit which they believe will lead to the rerating to �10+ a share. No less than 3 of the board members discussed this as the group aim. Looking at the time line they had pretty much bought Yume already hence the frank opinion. If Rhythmone can start doing the numbers I have no doubt the SP will follow.

Thank you for the post Bluefish. The sooner they get this deal done and dusted the better,then I hope we can move on up. Shocking trading again today.