Member Info for G_G_G

i'm still here and trying not to look at the sp.

stas, who is the person referred to in another post regarding copl?

the company is being priced as if it's about to fail. and throughout all of the mess that has been created by our deceitful bod, what exactly are they doing>? interesting how they have created this mess through pure incompetence and misleading guidance and they do nothing - no further statements, interviews... anything to support the sp. i'm keen to see if they put their hands in their pockets in a meaningful way given what they have done here.

as for the seller, it's not me. as much as i'm finding it hard to believe a word from the bod, and i imagine others are doing the same, i cannot bring myself to crystalize such a loss. if the numbers are to be trusted, then we're back to a similar ev:ebitda valuation than just before the offer. the market is penalising us for our deceitful mgt team who appear to know nothing about their core business, or others based on the shinez acquisition. this is not going to be a quick fix, especially if these useless f@cks sit and do nothing. a t/o offer for £1 is a 100% premium to now. extraordinary. fwiw i think the recent dd uncovered how full of **** the bod has been with investors about the company's future prospects and they walked. it's also why they had to release the recent numbers. and i believe it's why after the deal failed on friday 21st february (based on selling patterns) they have quickly pulled together a statement and asked verdane to say nothing until the offer end date. i'm hoping there's no other skeletons that were uncovered and the whole company is a house of cards.

to fix they need to pay down debt and continue with bbs at whatever level is possible. any money coming back from shinez should go to debt reduction. they should not make any more acquisitions until the search business is functioning optimally. the p!ssy dividend should be scrapped and used to reduce debt. all going well they can reduce debt significantly and hit the upper end of guidance. they need to aim to get the company closer to a ratio of 1 for debt v ebitda. with a 30% reduction in debt ($70m) and another 25m shares purchased the sp would be 70p to keep the ratio at near 4 (same as now and pre-offer based on prior bull**** guidance). a ratio of 4 is silly but that's what you get when you're a company run by a bunch of incompetent, deceitful c@nts. the 70p figure of course requires the business to hit $65m ebitda guidance, which appears to be numbers they make up and then tell the market later it's wrong.

so for all of you thinking we'll bounce back to 90p, that isn't going to happen unless we receive a t/o offer. i also don't believe an offer for the dis and/or comparison business would happen anywhere near 10x ebitda when they can have the entire company for a similar amount. worth remembering our f@ck up mgt team have delivered an mcap of £130m.

they should be doing bbs of 250k a day a

this will bounce and drop back until we hit the 65-75p range from all you pi traders. just like last time. the bbs will help to stablize at each point. sp action is already showing this - little surge then pull back. we'll end up less than 5% higher today. the only way this gets back to 90p-£1 is for an offer for the entire business or the dis segment at 10x ebitda, which i think is fairy tale stuff given the current state of the company.

gs reducing short position because they have squeezed all the can.

it will take a couple of months for a recovery to the 70's, like the last time they dropped a piece of **** rns that no-one saw coming. they're a bunch of amateur f@cks who don't know their own business. i also believe they have misled the market in both the august and november updates as to the true state of affairs. the fact this leadership team gets paid for such under-performance, and to mislead the market, is astounding.

When are we expecting He% rates? I thought they said it would take a few days. The longer they wait the worse the sp will become. It will also mean a lower level from which to raise cash, which will be needed in a few months.

Word the deal was being pulled would have been Friday 21st in the afternoon. The sp was trading in the 100-105p range until 3.15pm when it had a hard drop to 93p. Volume for prior days was very low until Friday afternoon's drop on some very large trades. The following Monday volume significantly higher again, with some very large trades going through. The 'insider' found out on Friday 21st and dumped their position late that day and Monday last week. I suspect mgt have held off telling the market as they knew how it would look, and they had to pull together a statement for today that 'came clean' on all the misinformation they have provided to the market the past 6 months. Directors should be barred from holding any senior positions in companies for misinformation and incompetence at this level.

Can see us climbing to 60-70p in the next few weeks / months providing there's no more misinformation to be uncovered. Disgusted by the goings on here. Mgt should be ashamed of themselves.

StraightAIM, why they have been heavily buying back shares all along when they knew the state of the business is the big question for me. There are so many unanswered questions to this mgt team. How have they provided guidance on multiple occasions that is so wide of the mark for the past 6 months? Why have they allocated so much toward BBs and Dividends given the true underlying health of the business? What happened, and is happening, with Shinez? Why did both offers get pulled? What have the done to investigate the suspicious trading activity that took place before the November update and last week? Who is being sacked for incompetence for all these f@ck ups?

If I were Royde, Siffrin or the Dayani's I'd be apoplectic with rage, like myself.

IWTO, come on let's not refer to broker reports. No-one is going to buy at 10x from a bunch of amateurs who have f@cked their company and laden it with $100m in debt. And how does one disentangle the indebted Frankenstein they have created? The values being discussed are pie in the sky. At $100m Adj Ebitda an offer of 125p was being considered. This was seen as good value for both parties. At $65m one should be hopeful for 100p. If selling the DIS segment for such multiples was on offer it would have happened by now.

Reality for me that is setting in is these guys are absolute clowns who have gone on a silly post pandemic spending spree buying up lots of online business they don't understand with the cash that was falling from the sky. Now the good times have ended there's no money to pay for their mistakes and the consequent debt load. Shinez could be glossed over and forgotten after 2 years if they could generate $100m Adj EBITDA or better each year. No doubt there's more acquisitions that have been a complete waste of shareholder money as well. This reminds me of online retailers like Asos who bought defunct brands and immense amounts of garbage stock. It also reminds me of my last company which is listed in the healthcare space. They went and bought a loss making business, low margin business, and built some other loss making entities - their own Frankenstein. We're talking £100m of investment that is generating f@ck all with the core business desperately in need of investment. The pandemic gave these self-professed brilliant minds lots of money to waste. Now the chickens have come home to roost. Lots of redundancies have occurred in the past 6 months. Same senior leadership team all earning +£1m in salary and bonuses are in place though. There's been a windfall environment in healthcare and the sp is lower than what it was when the complete C-suite joined 7 years ago. How some people are in these jobs is extraordinary.

Stas, you forget the mgt team have run up $100m in debt buying loss making companies. If they can recoup the cost of Shinez then yes much better value. But we'd be looking at the same level of Adj EBITDA as debt still. And that's what we were looking at until yesterday. Remember they guided for modest growth in 2025 from close to $100m Adj EBITDA in 2024. How you then get to $60-68m in the space of a few months is beyond me.

Lukee, yes lots of shares held by a couple of major holders. The flip side is what happens if one wants to exit? Who exactly will take up that level of shares? PIs? I doubt it. We also don't have a lot of runway with $60-68m to aggressively buyback shares, let alone pay down debt. Never have I seen such a complete misrepresentation of where a business stands. Verdane DD has forced them to come clean.

How I see this going is sp will bounce to the 60's and stay range bound. Kestrel plus one or two other partners e.g. KKR, Inter, Dayani family, will come in with a pitiful offer around 90p-£1 in the next 6 months. Mgt will cave because they will either be offered cushy jobs in the new entity or a nice big payout. Smaller funds and PIs will get f@cked. The big boys will take this for a song. If 125p was good value before this shambles. Then 90-100p is the best to expect now. We're now in the mid 50's. Until yesterday the downside was 90p but that was when we were expecting $100m Adj EBITDA that mgt hadn't corrected at any point from the November outlook.

Extraordinary level of duplicity here.

teddy the best that can happen here is another t/o offer for near 100p, or a break up that will generate similar value. that would be a huge jump from where we are now. talk of getting back to 100p in the next year without an offer is fantasy stuff imo. and i still have 575k shares in this dog.

mgt have zero idea of what they're doing. absolutely no idea about the search side of the business, which could conceivably get worse. they have been off buying companies that generate no value, including +$30m acquisitions that are loss making. they also cannot be trusted.

i have no doubt funds are sitting there with itchy fingers trying to work out whether they cut and run. if one of them decides to exit the sp could drop much further because there's no-one who will pick up this stinking piece of **** the mgt team has created. they have misled investors about the health of the business in each of the last updates. there has also very likely been examples of insider trading on two occasions. how can investors make any kind of informed decisions if mgt are feeding them inaccurate information and misrepresenting the health of the company? at best they are extraordinarily incompetent. i suspect they are much more than that though.

the mgt team are extraordinarily inept and perhaps even frauds. the update today was a result of the dd undertaken by verdane. or are we meant to believe that mgt team only just discovered the f@cked 2025 guidance they have just given to the market? seriously? they have known about these things for some time. in november they guided for record profit in 2024 and 2025. that was just a few months ago. they also guided for higher adj ebitda and revenue in august before dropping a ****show rns in november.

these guys appear to have no understanding of the underlying performance of their business. and i would argue have not been forthcoming on releasing updated guidance when they would have known their previous guidance was way out of line. how can anyone trust a mgt team like this. we were saying how undervalued the business happens to be when accounting for at least $100m adj ebitda and modest growth in 2025 i.e. what they had been guiding in h2 last year. now we've got a situation where mgt clearly have zero idea of what the business is likely to make in 2025, and trust is completely gone. who knows what comes next.

if they had any f@cking idea of how to run this business we wouldn't be in this situation. talk of dividends goes to show how useless these clowns happen to be. no-one gives a **** about a 1-1.5% yield. put the money against the significant debt they have run up buying loss making businesses. and the bbs will obviously need to be pulled back. again they should focus on debt reduction with this money. they have zero idea of the search side of their business and need to focus on this and getting the +$30m shinez dog to at least make some money, rather than chasing more ****ty little online businesses they don't understand. unbelievable levels of incompetence. truly mind boggling stuff.

the ceo or cfo needs to go. they were responsible for the shinez mess. whoever is most easily replaced needs to be removed. i've never known anyone in the businesses i've worked in to create such value destruction. to think such people could still have a job and pull significant wages is unbelievable. they also need to hunt down the source of the insider trading. so much stink about this company that i'd go and burn it down if i wasn't still invested.

BB14, let's see if the CDEO and CFO are willing to put their hands in their pockets. My guess is these gutless, incompetent clowns (and perhaps shysters) would prefer to keep getting paid to destroy the sp, rather than help it. And what would it take to make a difference...? I think £100k each would be the bare minimum after what they have done.

I wonder what the major shareholders are saying now? Kestrel isn't the only double digit % holder.

Letter will be going to the FCA. I have spoken to them this morning. Clear lack of accurate information being provided in a timely manner, combined with 2 x episodes of insider trading. I believe Verdane's DD is the reason our incompetent bod has been forced to update the market with the latest, accurate information. If one goes back through the August and November RNSs there are so many examples of where they have misrepresented the true state of the business and its prospects. I've invested a small fortune on what they have been telling the market the past 6 months. And now after a t/o falls over they decide to tell us the business is absolutely nothing like what they have been stating with over 30% reduction in EBITDA. Gross incompetence at best. And fraudulent in what they have been stating at worst. Probably why these spineless clowns are doing everything online. Says a lot about them.

Surely this warrants an investigation. How have they guided the market in August on 'at least meeting market expectations' to then in November torpedo that exact statement (post clear insider trading the day before-hand). And then how in the November 'Outlook' statement have they guided for record profits in 2024 AND 2025 and then provided this update? How can any investor make informed decisions when they are stating such things in an RNS and then a few months later give the market information that is completely out of kilter with their prior (very recent) statements?

I believe the Verdane's DD have forced them to come clean on their misrepresentation of TIG's current and future prospects. At the very least they have provided critical investor information late to the market. Both of these things are not acting in the interests of shareholders. And because of the DD exercise they had to update the market on the offer being pulled at the same time as this left-field, diabolical 2025 outlook. This is not executing their fiduciary duty to shareholders. They have not provided all necessary information in a timely manner. And they have overseen obvious insider trading where the offer was clearly dead in the water last week when we saw another example of huge volume and the sp dropping for no obvious reason.

The offer being pulled is one thing. That's a 10% drop. But to also guide from out of nowhere in excess of over 30% reduction in EBITDA for 2025 after guiding for record profits in 2025 in the November RNS is unbelievable. They have cost me a fortune. I have a young family and spent a lifetime building a pf of £900k. I'm also self-made. They have taken my lifetime wealth backwards by £300k. If I knew of the real financial health and future prospects of the company in August I never would have invested.

Apparently the Google changes 'were expected' and yet we have been given no information about this up until now...? Mind boggling incompetence at best. Duplicitous misrepresentations from mgt at worst. The only way out of this is a break up of the company, or another offer by a third party. Who though is going to make an offer near 125p after this shambles? And why did the Verdane offer fall over. Bet they're not going to tell us in the 'online investor meet' in a few weeks. Gutless to be doing this online as well. No doubt they won't answer any questions. And let's not even get into Shinez. To think the exec committee get paid millions to be this incompetent, let alone misdirect and misinform shareholders along the way.

i would have appreciated your thoughts stas.

i was blinded by the bull**** of mgt and now down hundreds of thousands of pounds. i'm going to send an email tot he fca and also ask where i can get legal advice for an investigation of the company and its mgt team.

my take on it is verdane looked behind the curtain and found the mgt team to be a bunch of shysters. after they pulled the offer the mgt team were forced to come clean with the real numbers and guidance for next year. i don;t mind if i"m investing in a speccy drilling for gold and it craters. i know the risks and it being a binary bet. but mgt have provided zero guidance as to the real state of affairs here. their duplicity and incompetence have completely decimated my pf. and the big issue is how the f@ck can we trust anything they say? for all we know the company is a house of cards.

from an expected +$100m adj ebitda for 2024 just 6 months ago to sub $100m reality, to now 30% lower than this, if they are to be believed. incompetence doesn't cut it. they're frauds.

Bandit, my thoughts exactly. There was obvious insider trading last week. And where have these new numbers come from? If it was 'expected' as per the RNS, then why hasn't the market been provided with this information? How can mgt be executing their fiduciary duty to shareholders by withholding this information? And why has the deal fallen over? Did Verdane look behind the curtains to find mgt are a bunch of shysters? And then there's the Shinez purchase of +$30m for a loss making company, which was meant to deliver +10m Adj EBITDA. How do these things even happen?

The questions I have about an investigation as follows:

- Clear insider trading last week. Who was selling? And who in the company gave them the inside knowledge?

- Why has the 2025 outlook included numbers so at odds with what has been shared with the market to date? If the impact on search 'was to be expected' then why haven't shareholders been updated in a timely manner?

- Why did both interested parties walk away? And what was required of an offer for it to have been accepted?

- What has been Kestrel's position on the t/o?

- How has the Shinez purchase for +$30m gone from providing an immediate boost to our bottom line of +$10m EBITDA to a loss making entity? What is the status of the legal action? And who will be losing their job for gross incompetence?

Like some on here I have a suspicion Kestrel will now offer £1 and push the deal through after helping to torpedo what has been offered already. The disgust I have for mgt is so immense iI'm thinking of gong to their offices and smashing some heads. At best gross incompetence. At worst they have hoodwinked the market and working in tandem with another party to take the company private for far less.

what the f@ck! are these guys crooks? how the hell can 2 offers be made and we end up with not just a profit warning, but a diabolical disaster of an update. where have these numbers come from? why does the market have zero knowledge of what was coming to make informed investment decisions? why did they not accept a deal? this is the dodgiest, most pathetic **** i have ever come across in a company. it's as if they're a bunch of con-artists. does anyone have any understanding of legal avenues against mgt of the company for not providing timely and accurate information on the health of the business?

I hope I'm wrong but think this is going to get kicked down the road. F@cking ridiculous given they've had 2 months of DD. They should either put up or f@ck off. Waste of time otherwise and mgt have enough to sort out given SEM drop-off and the f@ck up that is Shinez.

Nice to see this slowly creeping up. Shouldn't we be expecting the latest He% figures this week?

We can still try Stas. At the very least we can turn up at the next investor presentation and go berserk at these guys if the deal doesn't go through. Very hard for them to justify knocking back the deal at 125p when the sp crashes to 90p. There is no way that would evidence of executing their fiduciary duty to benefit ALL shareholders if it falls over. That alone would warrant an investigation. I also do not see how Kestrel could stand in the way unless they are willing to make a counter-offer. They cannot lose anything if they wish to maintain their holding. It's only if they wish to sell of part of it that 125p could be an issue. Either way we find out next week. Sadly still in the camp of this falling over. This company has a stink about it for good reason.

I'm wondering why the He % numbers aren't aligned with the presentation being done today...? The RNS states it will take a couple of days. They should have started last week. Instead we'll probably get something tomorrow or Friday. Seems completely illogical. Either way these numbers should be very good. Hopefully we'll get a tick up before the all important flow rates end-March.

i can't see any 'tick up' sm, in fact the sp has dropped. this is an absolute f@cking mess. casc execution is the catalyst for a re-rate. central is just more debt and capacity, which we have plenty of at the moment. predictable and dependable casc production is key. and knowing that in a little over 2 years the pricing on casc changes also helps. it may be a while away but trin would be aware of this and may be willing to come to the table early with pricing that works better for both parties. but no point having better pricing with bull**** production. time for pb and his fat bod to step up and start filling that capacity.