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Dedicated to my Porta research at all hours. :)

This has recently been released and it shows they still hold their original stake. Which suggests HH have not been selling their VCT stake. Also backed up by the Porta website. Which has not had investors page updated since BM's buy. Suggesting maybe further RNS's will follow regarding directors. That or they just have not got around to it. I agree with Drew that 500k figure looks like a director buy. Would love it to be a fund instead really. Unlikely at present.

500k buy. Bob still buying? Yet share price down. Bizarre.

Looking at the accounts. Redleaf, the Australian business, Newgate HK all showed very strong actual profit before tax and other costs. Total of over 1.8M between the three. Just need to get all division up to critical mass. The more I look at these figures the more positive I am for 2016. Ignore those that sold out due to the big headline loss. What matters is the underlying business. There are some very strong number there in places. Just ashame these businesses Porta only have 51% ownership. Part of the reason why a 3.4 million figure changes to a 4.4M loss. As dividends of 902k are paid out on these firms overall results. Overall this is not far off a profit making company if all division reach critical mass and new clients come in. Then reduce the coupons on the debts from 12% to 6% and you add 600k to the bottom line. Definately not selling here. On these figures BM knows exactly what he is doing.

Mystery buyer is Bob Morton. RNS is out.

500k late buy has shown up.

Thank you for that find. Excellent read. Redleaf - Gross profit up 22% at 3.5m. Ebidta up 27% at 1.08M. Wow! Figures for Newgate/Europe are down by over 1M but most likely due to Europe offices closing. 13 Communication revenue up 50% on the year. Summit revenue almost double for 2015 but may include TTMV business. 2112 seems to be doing well. Handles Porta's biggest client BNY Mellon. Seems to me if the business can start cross sharing clients to generate more revenue then things could pick up here. Seems to me they still need more research, (CAG not mentioned on this report.) Consomer PR and marketing/advertising. Seems to be all going in right direction.

Actually the trade was on Tuesday. So why delay an RNS for this?? I guess we will find out soon as the trade has only just shown up.

So someone has bought 1 million shares at 5.75p. Director??

http://www.gorkana.com/2016/05/redleaf-appoints-three-managing-directors/ Redleaf Communications has promoted Rebecca Sanders-Hewett, Charlie Ansdell and Henry Columbine to managing director. Emma Kane, founder and chief executive at Redleaf, said: “Leading our three specialist practices, Henry, Rebecca and Charlie have been instrumental in the significant growth we have experienced in recent years. Their entrepreneurialism, dedication, leadership skills and enthusiasm have made a significant contribution not just to our growing revenues and profits but also to the positive and happy working environment that is so central to life at our agency.” Overall seems positive news.

No my knowledge of ISDX is very little. I could only see the recent trades on there too. I like you noticed they had updated the website in last month or so. When they did they removed the facility to see lots of the trades. It certainly is useful on days when you wonder why a share is down 3-4% on virtually no trades.

Comonvog. Fair enough. You are not the only person selling out today. Although I do think they are still shaking the tree here with buyers in background buying up the sold stock. 500k today soaked up in 6-7 trades. I also think directors are still locked out. To get out at 7p today was a good trade considering current price. There were almost no other trades at 7p. Of course I think the share will recover past 7-8p in next few months. Assuming we don't vote to leave Europe. Good luck finding a solid investment elsewhere. Do still post here.

Mixed kettle of fish the interview. The Brexit vote is stopping many firms from doing IPO. He talks about acquisitions in Europe and North America. No idea which firms these may be. So acquisitions are still on the cards. He talks about big hitters joining the firm who can bring in new clients and add to the bottom line. Seemed quite honest and up front about most things. Quite candid really. Overall seems to know what he is doing and where he wants Porta to go. Seems very on the ball still.

http://www.proactiveinvestors.co.uk/companies/stocktube/5067/porta-communications-chief-looks-to-double-the-size-of-its-australia-business-5067.html He wants to double size of Australian business. Not watched it yet.

Clear today some people were always going to sell if the company could not turn things around. Yet someone or a group of investors have snaffled over 1M shares. Between 2pm and 3pm someone bought up nearly 500k of stock. Nearly 900k traded on ISDX. Quite a few of these were sells. I agree with Val62 after the initial sell off new investors will come in here. I still believe a large buyer is soaking up stock here. Porta could really use a white knight to buy out the Chairman. This might get rid of the expensive loan here. The reality is BM will use this loan to substantially boost his stake in Porta. Don't be shocked to see him use the interest on these loans to buy up more stock at these prices. For now it may be they are all locked out anyway if acquisition discussions are ongoing??? Who knows. It may be the directors wanted to wait 1-2 days before showing their card and buying in?? It may be none want to buy in? Who knows.

The big numbers here are the D and A of 2.718M. Finance costs of 1.26M. Those 2 alone account for most of the losses here. The finance figure pretty much wipes out any of the 1m ebidta. That being said they offer up exceptional items of 1.5M which should hopefully not appear at such high levels this year. Sure some are negative about the Brexit but it's unclear what if any impact this might have. Would we really vote to leave the EU? Paul Scott has sold out his long position on Porta today. His overall review was -ve chairman loan -ve under capitalised balance sheet. -ve way accounts are done. +ve CEO has done it all before. +ve good businesses inside Porta and Once more established, the group might attract a bidder (the CEO mentioned 2x fee income as a multiple pertaining in the US for takeovers) So mixed kettle of fish from Paul. Unclear what shares he sold today.

My thought on the new hires were for new acquisitions. No mention of these. No director buys either. (yet). A COO would be there to integrate new businesses. Let's not forget the 1m savings made from restructuring. So a refreshed bod is not all bad news. The key here is cash in the bank. This is still 2m or so. Buyers will wait for the nervous investors to sell here. Directors will do the same. Assuming not locked out. Revenue is rising here.2016 should be a strong year for Porta. 35m revenue with a market cap of 16m seems very undervalued.

In the current year Porta will be acquiring a further 15 percent of the Redleaf equity taking its stake up to 66 percent on terms outlined at the time of the acquisition in April 2014. Looks like a number of it's division have performed very well. Annual General Meeting The Company's Annual General Meeting will be held at 11:00am on 30 June 2016 and the Annual Report containing the Notice of the Annual General Meeting will be posted to shareholders shortly and will be available on our website thereafter. Looks like they have renewed their borrowing with Hawk investment holding Limited at 12%. 'the Bond will help reduce the Company's monthly interest payments, as the redemption premium is only payable on the date of redemption.'

Looks like a 2.9M loss but a huge Depreciation and amortization of 2.71M. Including a lot of exceptional costs. So headline profit of 829k. Cash in the bank has not changed much. Still about 2m. Highlights -- Gross profit (fee income) up 39% -- Organic growth in gross profit of 14% against a low single figure sector average -- Reported EBITDA after all costs up 447% -- Headline EBITDA 27% higher -- Number of clients up by 231 to 836 in the year -- Positive operating cash flow of GBP1.3m compared with negative GBP3.4m in 2014 -- Renewed debt arrangements Outlook -- Trading ahead of budget in first quarter of 2016 -- Organic growth expected to comfortably outperform sector in 2016 -- Exceptional costs expected to be significantly lower in the current year -- Further senior hires planned

http://www.gorkana.com/2016/05/parker-fitzgerald-appoints-newgate-communications/ Specialist management consultancy, Parker Fitzgerald (PFG), has appointed Newgate Communications to advise on its corporate communications and marketing strategy. The Newgate team will be led by group managing director Steffan Williams (pictured) and supported by Alistair Kellie, partner at the agency. Newgate will work with sister company 2112 which will provide marketing and design consultancy. Good news for Newgate and 2112. Not really had much to say lately. I assume most of these buys are from you Val62? Probably next post after results. Don't want to clutter this forum.