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If you are correct and the BOD do read this BB then here's a message for Lee Cameron - do the honourable thing and resign. Your recommendation to accept 2.9p or, sorry, the now whopping 3.1p is an insult to us investors.
So in February 2017 this is what the BOD reported:- Monitise's Chief Executive, Lee Cameron said - 'Our transformation programme is nearing completion, and continued half on half EBITDA profitability demonstrates that it is working. Having successfully stabilised and simplified the Group, the challenge now is to grow our revenue. To help us achieve that we have recently appointed new senior management to two of our business units, and we remain fully committed to, and optimistic about, the potential of our FINkit platform. 'Deadlines in 2017/18 for the implementation of regulatory initiatives that focus on increasing competition and opening up banking in both Europe and the UK are now imminent. These continue to ensure that delivering on digital transformation remains top of the retail banks' agendas. 'Mandates from both the UK's Competition and Markets Authority and the European Commission's Payments Services Directive (PSD2) are driving demand from retail banks for the type of faster technology change enabled by FINkit. We believe that the market for our products and services is increasingly moving in our direction, and I remain positive about the future of our business. 'FINkit solves the challenge banks face when seeking to accelerate the delivery of compliant digital services to their customers. We will continue to focus our efforts on serving the needs of our existing and prospective financial services clients, whilst exploring other opportunities with interested parties who also see the value in what we have built. Calendar year 2017 will be a pivotal year for Monitise.' Outlook As previously stated, Group revenue is expected to decline in the financial year to 30 June 2017, but the year will benefit from the full year impact of cost-savings already achieved in the interim results to 31 December 2016. FINkit represents a real opportunity for Monitise to establish long-term sustainable growth, and we will continue to invest in developing that part of our business throughout the current financial year. FY17 capital spending will be materially lower than FY16, and cash outflows relating to onerous contracts will fall from £6.7m in H1 FY17 to approximately £1m in H2 FY17. Given this reduction and the stabilisation of the Group, we are confident that we have sufficient funding in place to execute on our plans. We will continue to evaluate all the Group's assets to make sure they remain relevant to our strategy and add to our value. On 27 July they posted that 'we're doomed' if we didn't accept the offer. IMO this represents a monumental failure on the BODs part.
Wow, the offeror and this BOD really know how to show complete disregard to the company's investors. 0.2p increase - is that really going to seal the deal??? I hope this "final offer" gets knocked back and then Cameron et al get thrown off the BOD.
This, to me is the biggest stitch up by Cameron et al towards PI's. As. Long as he and his cronies are okay - stuff the small PI. I say we all vote NO then get this clown voted off the BOD. His motives are clear to all - self-fulfilling. I would sooner get zero back and have this buy-out voted down than agree to the pittance being offered.
Dambaba1, do you honestly believe in your own positivity here? How on Earth is this not already "more clear" - it is a rudderless ship with no clear action plan. Gold - what happened to that? Graphite - seems to be taking an age to get any movement on that. The sp will increase on trust and confidence in the BOD and sadly, that is dissipating by the day.
Not sure about that Dambaba1, this is being walked down to £0.00. It's a real shame but there has been no positive impact on this share price for quite some time. I am afraid that the phrase "you can't polish a t..." springs to mind with ACP