The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Get a life
Is it just me who is reasonably happy with the board? Trading on a miserly p/e, with debt under control and the most profitable division growing strongly.
86m @ 0.0265
Oh aye! https://beta.companieshouse.gov.uk/company/11050321/officers http://www.walesonline.co.uk/news/wales-news/im-not-millionaire-says-postman-2170531
Disappointing, although it will only take news of a significant contract win to totally change sentiment. We live in hope!
A number of the trades reported as sells today were actually buys.
Aerial, market makers have to nofify when crossing every 1% threshold just as other shareholders do, although market makers can hold up to 10% before any notification, unlike regular shareholders where the notification threshold is 3%.
Proxama won't be losing �350k a month! And let's not forget the extra �1m in deferred consideration (subject to some sort of criteria)
Not necessarily. Back at the shareholder's presentation in September, Proxama at least had some customers for the location data, as one of them was speaking saying how useful Prox's offering was to them (maybe they paid someone off the street!!) but anyway, the point is that I would not expect every location data sale to be announced by an RNS. They do take time and money to pubish on the market.
Certainly chat about Peel Hunt wanting to offload seems to be unfounded since they are sat on the bid at 0.03.
I very much doubt there will be a fundraising. The money raised in June was supposed to last at least a year and perhaps (hopefully) through to profitabilty. With this additional money and with headcount greatly reduced (including some expensive dead wood) then I don't see how cash burn can be that high. With a mcap of not much more than the current cash position, surely if there's ever been a time to buy into Proxama, it is now?
I extrapolated some figures which suggests recent trading has not been overly rosy. As follows: Revenue 6 months to Sep 2016 - �0.666m Since we don't know quarterly figures I have had to estimate here, �0.3m for Q1 and 0.366m for Q2. We know that Q1 this year was +61% on the prior year, thus �0.3m + 61% = 0.483m (estimate) H1 revenue this year was 0.818, thus Q2 revenue (the most recent) = 0.818 - 0.483 = 0.335m (estimate) So that suggests a decline in Q2 sales this year vs. Q1.
Your argument is that the shares shouldn't be bought because they are too cheap?!
Being posted about �10m offers for RedLeg. There's never been any approaches for RedLeg, at least none which were reported to the market. I predict the share price will continue to drift in the short term after quite disappointing H1 figures (versus impressive Q1 figures). When numbers are crunched it would appear that Q2 sales were disappointing. I think there is a real chance that full year turnover could come in only similar to last year and I would not want to be holding the shares at that point. With Blackwoods and Redleg already available in most major multiples I do think that stagnation is a real concern. Particularly given that neither brand is anywhere near being a best seller.
Kennedy was also CFO so I wonder who will get that role.
Calling for an egm was a pointless exercise then was it ? 😉
I don't think there's anything suspicious going on with these fluctuations in Peel Hunt's holding, its just what would normally be expected from a market maker in their normal course of business. Why they have a large shareholding, though, still is a bit of a mystery. Remember that a market maker can hold up to 10% without having to declare, so in most cases, fluctuations of a couple of percent holdings by market makers is not reported.