Member Info for ggrantsu

Charlie this is incredibly helpful information....bolsters confidence immensely...not fussed at all if its funds offloading. Large part of investment case is how incentivized the ambitious founder is here.

completely bizzare!!!!!!! third of market cap traded in one day alone and nothing....mental!!!

This is a quiet board for a share that seems so disconnected from fair value.....

Do people have a view on the Volkswagen settlement and if there is any probability it won't come through? Feels very much like a done deal given they were found against last year for the same case that was brought...just feel like time is now dragging on a lot?

Either way, interesting that all broker forecasts don't even account for the settlement and we are still way way off fair value.

No - but this isn't capitalism at work I'm afraid...capitalism is about fair value coming through in the end - and my estimation of fair value is way over 5 quid over a 5-year view with Kape. This is daylight robbery and even worse, I struggle to see how it is stopped. You have Slater investments with 5% (assuming they have held for a long time and may be happy to take the price and move on) and then rest of shareholding is very dispersed with small holdings amongst institutionals...not a conducive to this being rejected.

Agree with all of these comments...yet somehow I convinced myself it was a reasonable corporate structure. Definitely did not see this coming. It's a really really insidious way to treat shareholders who have supported the business.

no not blaming Sagi...only has to pursue his own interests, more the shambolic way stuff is valued in UK markets by the institutionals.

Am sure Daddyaim that you are as appauled as I am by this today....utter disgrace in my opinion.

Could be looking at a year of robbings like this.

It's a pretty horrible set of circumstances. Really horrible when you compare to Adept last week being bought at almost 2x. Adept had far less potential growth wise and was highly geared...

I really thought we would be looking at a takeover for Kape...but an external one which would see shareholders make 2x minimum. Even that would have been at trading multiples far lower than other transactions in the sector...so this is just a terrible position now.

I sold personally...not impossible that the board will secure a further 10/20% from Sagi...highly unlikely another offer will be put on the table as Sagi would clearly reject it given he wants to take Kape forward privately. So in my view any upside from here is limited and holding on was an opportunity cost - CentralNic in particular feels like it could be next in line imminently and plenty of others.

Interested to hear what others think will happen here. Sad day in my view...a proper destruction of shareholder value. However, not blaming Sagi; its not for him to be acting in our best interests, only his...and the UK market just simply would not ascribe a reasonable valuation to Kape.

What do we think the chances are of this going through? Any chances of this disgraceful offer being rejected?

Really really really huge destruction in value...almost can't believe a board would allow this. It was always the risk...and I cannot blame Sagi...its the UK markets fault for not valuing these brilliant companies in any fair way.

which directors are selling 'en masse'....the biggest transactions have been the consistent buys from the experienced tech investor, Max Royde?

Sorry mate....but how is this 'profit taking' by the original investors....it floated at over 2 quid. It's not 50-60p...there is no profit taking here.

I think the business is pretty solid but there is a real risk here of this being something more serious. It's a heck of a distressed sell as it was 70p and almost wiped out from IPO. None of us know what is going on here but to sell at 50p tells me that something more major is going on...

This is a very fair point....was modelling this company last week and if you expense the development costs it is an extremely pricey ticket still. In fairness though...it is the same kind of spend as capex and is the only thing that can contribute towards this companies future growth...so I'm not criticizing their accounting.

Im on the sidelines for now...very tough call. The HN 2 data that seems poor is interesting....was speaking to an analyst who noted that HN1 when it came out was heavily criticised and yet has grown into a very successful franchise. Just feel like there is quite a few uncertainties with this one...

This is insane....20% drop already from an absolute tanking. Its either a great opp or something has leaked...it's really hard to know as one of most silent companies on market and difficult to trade for most PI's because of the US regulatory status thing i.e. can't do it on hargreaves lansdown.

surprised there isn't more chat here...

apologies pdiddy....I must be mistaken on the IP front for T17...thought they were just developers. even still...valuation disparity is completely unjustified!

Pdiddy.....agree with most points aside from it being similar in quality to team17...incredible thing is (and people correct me if im wrong) i see this as such a potentially more bagger of a play than team17. That being driven by them owning all their own IP....Team17 doesn't do this do they, they just develop?

Aside from that TB looks far better from what I can see in terms of financial performance and balance sheet strength. One of the most odd discrepancies in the market right now, TB vs team17...I don't get it.

Been thinking for such a long time that GoDaddy would be the obvious bidder here....and at such a multiple disparity. Ah i dunno....it just feels completely unbelievable with Kape and Cnic to see these kind of results and valuation multiples stick.

DaddyAIM....recognise you as a fellow centralnic backer so nice to see you here also. Cannot believe the share prices for these two companies......continent wide valuation discounts!!!

so they explicitly confirmed more buy backs and a dividend program in this proactive investor presentation - should be key for a re-rate

Show me a company reporting results anywhere near this level of standard and in terms of beating already upgraded upgrades....and we are lagging at like 2-3% up for the day. Just ridiculous.

Yeah its all pretty depressing. I think Boom will do good over the long-run...but right now I'm being honest with myself that this was a poorly timed investment decision. The Q4 results say it all....its usually their strongest quarter but we were down vs. Q421...and we were worst comparatively compared with 3Q22 vs. 3Q21 (i.e. the 3Q22 results I thought showed resilience). There are basically a lot of companies out there showing CURRENTLY much higher growth numbers with higher margins vs. Boom...its just a fact. Overestimated the kind of growth rates the company was seeing because it was so easy to be wedded to the kind of growth seen through FY21 and Q122...but found out to my huge expense that loss of Morbid and crushed ad spend (including in podcasting) was going to absolutely pummel Boom. I'd have a different investment view if I was buying now...but having bought at 8/9 quid...can't afford to lose anymore and I just see no reason as to why this won't fall to sub 3 (and still be valued on EBITDA multiple of plus 15x)...there is no reason why it shouldn't given other tech names are valued half and less of Boom but growing faster...just simple valuation laws right now in this environment.