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Matt, Aisin Seiki isn't the Japanese company that the RNS on Monday was about. That was found by one of the ADVFN posters but then taken back down so as not to compromise the NDA (as I understand has happened before creating trouble for VRS). At 100k employees Aisin is too small!!! Of course they could still be working with them but just not announced anything yet.
Hopefully next week's results will provide updates on all the various CA/LOI/MOU that are in play. Aecom news would be very welcome.
Tardis, I know Shroder and Tosca were there. Only found out after the formal part so not sure if they asked any questions in the open forum but I don’t think so. I didn’t speak to the Tosca representative and I don’t think anyone else did from a PI perspective. I believe the Shroder guy knew them and had mentioned they were there. Shroder’s were positive on TAP and the BoD. They have been holders for a long time since certainly 60p so we’re not showing a loss. They backed the team to deliver value. They had partly suggested that TAP buyout the ex CEO’s stake to avoid a huge stock overhang for months. No concerns at all, including over Uber, seemed they were in for the long term. No doubt having said all that we’ll get an RNS on Monday saying they’ve halved their stake!
Good to see. Looks to me that Patrick will be straight back assuming he clears his name, which I’m pretty confident he will. Patrick is an out and out salesman. Brian is there to run and scale up the business and ensure delivery of orders etc. The job titles used show that too. They would complement each other well. Hopefully we’ll see plenty more signs the US is moving forward.
Well I can see another buy back announcement by the end of July. At current level of purchase they’ll be through $5m by the end of this week and through the rest by mid July. As they had a board meeting before the AGM and assuming monthly at a similar time then c15 July would be the next one. Given how considered the original buy back was there must be a strategy in play here. They still have $60m net cash to play with.
I don't see many shares out there with the potential of VRS and all the actual company news has been positive throughout. I've taken this week's drop to continue topping up adding another 70k. If VRS only deliver a fraction of the potential the share price will still be way higher than current levels.
I'm assuming they'll give notice of the results next week and announce them mid July, same as last year. Looking forward to the detailed update on each MOU/LOI/Collab Agreement.
Looks like they’re back on the trail with 44k bought early. Stop at 1.19 today so hopefully they won’t be able to get many more today!!
Completely disagree Themis.
There is no news. He hasn't been convicted or found not guilty. It's just a bunch of morons trying to disrupt the business / share price and no doubt short it.
Every time they issue an RNS like the one today it just rewards them and encourages them to carry on. Should have just ignored the 'speculation' and notified once the trial has concluded and any action as a result of that.
Personally it looks like Patrick is going to clear his name and we'll all move on with a great VP in the USA bringing in the business.
Holding up well considering no buy back support. Had expected a small retrace until Thursday when buy back likely to restart
Of course fundpanda that would be true if they haven’t spent and cash on deal costs, exceptionals etc. They seemed reasonably confident of $100m+ by year end, less the $10m by back announced.
I'm ok with it DW. I was more worried there would be a below expectations announcement.
Always lots of questions though. It would be good to get a steer at the AGM whether performance is starting to turn or whether revenue loss is continuing at the same rate. At the investor show they said it would be lower but $40m is a big change.
Promising comments on the integration and other division. Buyback is a dead cert to continue.
Cash ok too given they will have incurred various one off cash costs of doing the deal, exiting people etc.
Given they were going to invest in some areas it will be interesting today to see where they have done this and what results they expect from it. The big question is when can they evidence material organic revenue growth?
WG, try this (though not sure how it will come out once LSE disguise it but I'll correct if you get loads of stars).
https://webapps.sftc.org/ci/CaseInfo.dll?&SessionID=28CF0B128283CDAB89856C94C2A893FDB632BF43
alternatively try typing in webapps.sftc.org and go from there. Once you've convinced them you're not a robot you'll get to a search screen and use the search by name tab and put Taptica in and it will come up.
Should be a lively AGM. Who is going tomorrow? May need a couple of drinks before hand. From my rough calculation they have about the same cash left in the buy back fund as they spent yesterday. Don’t see how they can’t now issue an extensive update tomorrow morning.
Safi, I would be very happy with $200m for H1. Don’t forget there will only be one quarter of revenue from R1 c60m and c140m from Tap.
200p would help the mood too 1gw!! Have a great weekend
Kong, they have funds to buy 50k shares each day until 13th June at least
Seems the business hasn't collapsed yet!
https://www.globenewswire.com/news-release/2019/05/23/1841591/0/en/Tremor-Video-DSP-Expands-Premium-Supply-Formats-with-Outstream-and-Digital-Out-of-Home-Video.html
It may be coincidence but on my tracker I have them running out of funds for the buy back on 13th June.
Happens to be the AGM so what chance of an announcement of increased funds for the buy back with some form of integration update?
Tardis, you're clearly much more important than me!!
Eddie, I do agree with you re sales & marketing and that seemed to be an area that Ofer was going to invest in when discussed at the roadshow. I got the impression he thought R1 devoid of any meaningful sales function and some of the synergies realised would be invested in this area, partly why no savings coming through til FY20. I just think they have enough cash to do both, assuming original TAP is still cash generative in their Q1. I don't think they'll just let the buy back run out in mid June.