RE: Placing to raise £3m11 May 2017 18:54
I read it as though some of these shares will be used to pay for further chunk in Redleaf, Newgate Aus and other obligations. As well as raising 3m for equity.
'The Board has also reached an advanced stage of discussions with a senior debt provider to establish a new working capital facility. '
This means they will be locked out as they are reaching a deal on debt with a third party. They would have inside information is they were allowed to buy now.
The stars here were Newgate Aus, Redleaf and Publicasity. It appears PPS suffered due to Brexit.
They fully own 13 Comms now 100%. Not sure how they acquired this. Acquired 31/12/2016.
66% Redleaf - 501k profit for year. Up from 456k.
57.86% Aus - Revenue up from 7m to 10m! Profits 863k Down 80-90k. Australian revenue up over 40% on year!!
60% HK - No mention of these figures.
Nor Singapore figures either.
CAG - Profit for year - 2778 compared to (109692) loss last year.
Team Darwin has been written off. Porta owned 25%. It's revenue was 107k. Key employee left. Loss of 36981.
Overall a lot of dealing with debt, company acquisitions here. Net debt seems to be over 10m now. They really need to reduce these loan notes. Some positives but this company needs cash!!
Overall there is a lot of detail in these results and I suspect I have barely scratched the surface.