Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
My money is on PDSB being taken out at $20+ before xmas.
Quite a positive advert for Malawi and anyone thinking of investing there. Can only be a positive for MKA.
US grants $350m for Malawi projects, hailing good governance
Thursday 29 September 2022 - 5:12am
AFP/File | ARIS MESSINIS
WASHINGTON - The United States on Wednesday signed a $350 million grant for infrastructure projects with Malawi's President Lazarus Chakwera, hailing his record on good governance.
The aid through the Millennium Challenge Corporation, which assists developing nations that meet democratic benchmarks, will fund a major road network in the African country to connect rural and urban areas.
Secretary of State Antony Blinken hailed Chakwera for his "deep commitment to democratic and economic reform" and called the project a "remarkably positive opportunity" to boost agricultural production in Malawi.
"These projects will be transparent. They'll be collaborative and built to meet the highest standards of quality," Blinken said.
"They'll provide grants to Malawi -- not debt," Blinken said, drawing an implicit contrast to rising power China, which frequently faces US-led charges of burdening developing nations with flashy projects that come in the form of unfavourable loans.
Chakwera was elected in 2020 on a campaign to fight corruption in the developing country. Earlier this year he sacked seven ministers over graft concerns.
"My administration has taken a zero-tolerance stance against corruption, shielding no one from investigation and prosecution," Chakwera said before the signing with Blinken.
Voicing gratitude to the United States, he said, "Together we're making strides for everyone's good."
Chakwera called on the United States to consider a further project that would jointly include Zambia and Mozambique and give landlocked Malawi reliable access to the Indian Ocean.
"Safe and reliable rail and road transport investments will certainly help reduce barriers to growth and create opportunities for all of our people," Chakwera said.
President Joe Biden's administration has put a renewed focus on Africa as it seeks to counter not only China but Russia, which has sought to limit support in the developing world for punishing Moscow over its invasion of Ukraine.
Nice find.
My point is, the market is gifting Mithaq the chance to take over the company thanks to the annihilation of the share price and the virtual collapse of the pound against the dollar.
They are a supportive, long term investor but these type of opportunities probably come along every 10 years.
Nope. From their website.
I've got a zoom call to deliver my pitch, with this bunch tomorrow, MUHAMMAD ASIF SEEMABTURKI SALEH A. ALRAJHI.
I've told them to stop p.ssing about and get the deal done.
MITHAQ HOLDING COMPANY
Dear Readers:
We are eager to hear from principals or their representatives, investors and brokers about businesses that meet all of the following criteria:
No investment will be made in an unfriendly manner and/or in a dying business and/or an unproven business model and/or prone to be disrupted and/or built on ‘hope’ and/or a non-Shariah compliant business i.e. the company must not be involved in manufacturing/operation/sale/distribution of weapons, games with violent content, night clubs, alcohol, tobacco, pork, music, casinos, movie theaters, pornographic production, financial services such as brokerage and insurance companies;
A founder-led company is preferred;
A strong and durable competitive advantage;
A business earning a high return on its invested capital;
A business that employs little or no debt to support its growth;
Operating in an economy that is not exposed to huge currency risk;
Run by honest and competent management (if this characteristic lacks, forget all the above);
And finally, an offer price; as we don’t want to waste your nor our time.
If you are the owner of such a business or know one, please don’t hesitate to write to us; we will provide a good home. At Mithaq, and as a rule of thumb, when such criteria are maintained, our intention is to hold the proposed company forever. We assure you of the complete confidentiality and a prompt answer.
— Cordially, Mithaq Holding’s Management
SYNERGY, ANAS IBN MALIK STREET, ALMALQA, 13521 SA
P.O. BOX 86611 RIYADH 11632 SAUDI ARABIA
Telephone:?+966 11 222 2210
Fax: +966 11 489 3947
Take note of the director share options awarded this week.
For the first time, all 3 refused to sell any (usually to pay the tax bill)
They obviously think the SP is a market joke, like the rest of us.
$1.37 in Jan, and now down to $1.09 and heading to $1.00.
Mithqu is a Saudi sovereign wealth fund that has billions in $ from the massive oil price inflows to invest.
Major shareholders supportive of the Amobee takeover.
30% cheaper on the exchange rate plus down to 1X earnings less cash.
No defence against a bid at £5/6.
IMHO, the buy back has been limited to $20M, because Mithqu now hold 24% and under Israeli take over code 25% triggers a bid.
(we are not under the London code of 29.99%)
$20M takes out another 3-4% of available shares which will take Mithqu to within a wisker of the bid ceiling.
If I was Mithqu I would line my bid up for early in the new year!
I wonder if the major shareholders actually grew a pair on this deal and that drop off in share based comp will actually happen?
Any idea where/when we will see the deal structure.
IIRC the previous deal went on for yonks and was all there to see via S4 or F4 SEc declarations.
As I mentioned before and something we all agree on, really not on if they have been given another sack of free cash/shares for this deal.
MCap $575M and EBITDA of $160M (cant afford to get that one wrong again!)
Still have approx $200M of cash.
Crazy value disconnect.
A bit of a profits upgrade this morning, $5M, and I assume that takes into account finance costs etc.
Financial Guidance
o Management believes Tremor remains well-positioned to benefit from anticipated future industry growth trends and Company-specific catalysts
o Tremor's full year 2022 guidance is based on the expectation that there will be no major Covid-19-related setbacks or significant escalation of war or other hostilities that may cause economic conditions to further deteriorate or otherwise significantly reduce advertiser demand
o Tremor's full year 2022 guidance considers challenging market conditions that limited advertiser activity in Q2 2022, such as inflationary pressures, rising interest rates, geopolitical and macroeconomic uncertainty, recession concerns, and widespread global supply chain issues in certain verticals such as automobile manufacturing, with the expectation that these challenges could continue to have an impact on the advertising demand environment for the remainder of 2022 and beyond, and excludes any potential impact from its pending acquisition of Amobee, which is expected to close later in Q3 2022
o Tremor believes its end-to-end platform, scaled and efficient operating model, diverse customer base, and broad range of revenue verticals help mitigate effects of these potential headwinds and accordingly, Tremor estimates:
-- Full year 2022 Contribution ex-TAC of approximately $290 million
-- Full year 2022 Adjusted EBITDA of approximately $155 million
o Following the anticipated closing and integration of the proposed acquisition of Amobee Tremor expects to generate on a combined pro forma basis:
-- Full year 2023 Contribution ex-TAC of approximately $500 million
-- Full year 2023 Adjusted EBITDA of approximately $200 million
Updated Combined Company Financial Guidance
-- Full year 2022 Contribution ex-TAC of approximately $330 million
-- Full year 2022 Adjusted EBITDA of approximately $160 million
-- Full year 2023 Contribution ex-TAC of approximately $500 million
-- Full year 2023 Adjusted EBITDA of approximately $200 million
With the £ down to $1.14 and falling, it makes the green light on the next buy back a no brainer.
Take off the cash and we are valued at this years earnings of $155M/$200M next year.
Or just above the $100M+ free cash flow.
Approx 1X earnings.
However you look at it, Something very odd is going on.
143K views, as of this morning.
Rubbish day on the markets and super strength for Tremor.
All very odd.
I'm pretty certain almost every 4D shareholder would put more money in if given the chance, rather than lose everything.
Just had a bloomberg business tweet.
Nice little video about QBot and it's offerings.
99,000 views so far.
The share package ,which gifted 12% of the company to Ofer and his mates was signed off by the big shareholders, when they took over Rhythmone. Why it was so generous, god only knows. At least it starts falling off the accounts from next year.
What would be criminal is if they have/do award themselves another massive package for doing the Amobee deal.
The AGM was in Israel last year. It might as well be on the moon. I think that shows how interested they are in their shareholders!
The Nas listing did raise $200M at $19 a pop which to be fair is now a life saver.
Is it just me or are the majority of our peers coming out with half decent results?
Difficult to see us doing any different.
Only a week to go.
Good to see they are already promoting the World Cup.
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