Member Info for KAMEL17

The two late trades on Wednesday may be indicative of an appetite for this stock. God only knows why!

During the last month the price has dropped around 14% with an almost entirely insignificant level of trades. Can the recent daily falls be an indication that the MM's are trying somewhat unsuccessfully to scare away the PI's? Re Nick Kennedy's dismissal, this is only concerning in that we do not have clarity over the reason, in all other respects it is a positive step forward. shylock, if the reason for his dismissal related to a materially serious issue, such as a financial irregularity or embezzlement etc, would the company not be required to issue an RNS? At present this is all good and the outcome of the strategic review is getting ever closer.

Your point is noted however one must ask How much worse could a competent profit orientated management team do than the current crop of industry folks. Richard Glynn came from an industry background and he is a nightmare. There is little doubt the days of the High Street bookmakers running B&M premises are surely numbered. The real profits will be made online with a dynamism and reduced cost base that the old style bookmakers could never match. Ladbrokes is a trusted name and they need to be properly online rather than dipsy doodling around the periphery. This is realistically beyond the capabilities of the existing Board and there is no-one who does not know this. Whether it was 888, Sportingbet or indeed Playtech they NEED someone far more that the others need them. For me they totally dropped the ball with 888 and Ladbrokes is now a sitting duck with very few suitors. It is so badly run that a private equity house could buy it on the cheap. If there is no takeover or Playtech for whatever reason fail to deliver the SP could plummet very fast. There are opportunities to exploit to generate real returns for holders here however this is now extremely high risk. The three legged donkeys are not in the 3:30 at Kempton they are all in the Boardroom. I bought William Hill at £1.80 a few years ago and sold at £4.10 because I thought that they had peaked and moved some of the funds into this. I'm in profit but only by pennies and I regret investing here. Every time you think that they could no worse they come up with another load of pap or further ridiculous excuses. There is money to be made here however I'm fast coming to the conclusion that the SP may drop by 20-30% in the intervening period and it may be a painful ride thereafter. I think I can forego the potential upside of a takeover and perhaps consider re-investing at perhaps £1.30. Good luck to you all though I suspect you may need it.

Perhaps it is just as simple that he genuinely believes that KPMG will come to the conclusion that he was right all the way along and everyone else was wrong. If this is the case then it is probable that there is an element of self delusion involved and irrational behaviour would undoubtedly follow. Let's just hope the Board repel this request in short order and concentrate on making us some cash without any further distraction

Well at least the soap opera has released another episode in the meantime to relieve two weeks without news.. Regrettably this is at best an irritation and just may include some danger for shareholders. As ever GL all

The strategic review has been drafted and circulated. PK has either had sight of the draft or is confident of the content. You will no doubt recall he had asked for a review as well. Given the circumstances and the empirical evidence that I have managed to gather it is likely to be the case that there will be criticism on a number of fronts, not all of which will be directed at PK, this would allow him to voice his opinion on the potential shortcomings of others. If this is the case and it is total supposition on my part, it merely demonstrates that the Board were perfectly correct to oust him. Whether other heads should roll should be an entirely different question. It would not negate his shortcomings. This does seem particularly petty and indicative of a business owner who has become irrational following the loss of power within the business they had founded. The other thing that may have caused this is the paternal instinct of a father protecting his son. The outcome of the suspension of Nick Kennedy is as yet unknown. This would be far more understandable and given the obvious ill feeling that has arisen here may or may not be justifiable. This man built this business and whilst it has floundered and he may appear irrational at the moment. He is not an idiot and there will be motive behind his actions. Lastly, is it possible that there may be a legal challenge to his removal? This would be dreadful for shareholders. The withdrawal and re-introduction of his requisition may simply have been as a result of time taken to bolster his legal advice. THIS IS ALL JUST TOTAL SUPPOSITION. I HAVE NO REAL KNOWLEDGE I'M JUST TRYING TO THINK THROUGH THE POSSIBILITIES OUT LOUD. PLEASE REGARD NONE OF THIS AT ALL FACTUAL

15 October 2013 Bglobal plc Requisition of General Meeting The Board of Bglobal plc ("Bglobal" or the "Company") announces that on 10 October 2013 the Company received from Peter Kennedy (the "Ousted Chairman") a requisition to convene a general meeting of the Company for the purpose of considering resolutions to remove Tim Jackson-Smith and James Newman as directors of the Company. The notice contains no justification or reasons why the Ousted Chairman believes it is in the best interests of the Company and its shareholders to remove Tim Jackson-Smith and James Newman as directors of the Company. Shareholders should be aware that the Ousted Chairman delivered a requisition in the same terms by email at 5.45p.m. on 27 September 2013 which the Ousted Chairman then withdrew by email only 4 days later stating that it would be withdrawn until the outcome of the KPMG strategic review is known. Shareholders should note that at the Company's Annual General Meeting on 30 September 2013, over 62 per cent. of votes cast in respect of the resolution to re-elect James Newman as a Director were in favour of his re-election (excluding shares held by the Ousted Chairman and his family, that represented over 98 per cent. of votes cast). Shareholders should also note that all of the resolutions proposed at the general meeting of the Company in August this year were supported by Tim Jackson-Smith, James Newman and Steven Fawkes and that all of those resolutions were passed with overwhelming majorities when the votes of the Ousted Chairman and his family are excluded. Notwithstanding this, and the fact that the Company is not aware of any change in shareholders' opinions since then, the Ousted Chairman has refused to withdraw the requisition received on 10 October 2013. The Board is required to convene a general meeting to consider the Ousted Chairman's proposed resolutions by 31 October 2013, accordingly the Board proposes to do so shortly. Unfortunately, even if shareholders representing more than fifty per cent. of the Company's issued share capital are known to be supportive of Tim Jackson-Smith and James Newman, the Board must still comply with its legal obligation to hold the meeting and is unable to claim the costs associated with the organisation and holding of the general meeting. The Board will seek to minimise the costs incurred by the Company in dealing with this distraction and would like to thank shareholders in advance for their continued support while they conclude the strategic review which received the backing of shareholders at the general meeting on 15 August 2013. A further announcement will be made in due course.

As an aside. The MD of BG Smart Metering should really know who they were even if bGlobal were poor communicators. There are not that many providers in the sector that he should not have at least been aware of who they were. I'm signing off now

I too hope KPMG report sooner and before the expiry of three months hence the reason I has said six weeks at the most. As you had noted previously this should not really be a very complicated exercise and it should not realistically involve three months work. Even if they do complete it more quickly though it may be that the Board take a little while to consider the findings. Either way I'm hopeful of some news by the end of next month. I am not really free to divulge any further detail as to my conclusions other than it pretty much came from someone who was close enough to know the internal workings of the business. In summary the enthusiasm for the metering business had subsided and efforts were concentrated elsewhere. Another interesting factor is that the employees had no issues at all with PK, indeed he was, at least on a personal level, generally well regarded. This was contrary to advice I had been given some time ago. The management in general were however not too well regarded. This may have just been a by product of management attitudes in a period when the business was underperforming though. The comments regarding the sales function and PR were x rated and this appears to have one of the major shortcomings of the business. What does it say that the MD of BG Smart metering has never heard of them? This alongside my own research rubber stamps the opinion provided to me. In what is predominantly a B2B model this is beyond shocking. The comment on the talented employees was I think intended to cover a pool of staff in general rather than specific individuals. In fairness the person who advised me was less than flattering about some of the employees however the backdrop to their comments was that there was sufficient un-tapped talent to move the business forward without the need for wholesale change. This research is based upon the opinion of two individuals who may or may not be entirely impartial however I have no reason to not to believe that the views they expressed were not genuinely felt. As ever with these things please take everything that is not written fact with a very large of salt and DYOR. ( I know you do). The lack of effective leadership was a comment that I had simply reiterated and was perhaps not wholly fair however it seems that certain parts of the business were managed far better than others. This would ultimately rest at the door of the senior management as it appears that the under performing functions of the business materially affected the business as a whole. As ever good luck to all holders.

We are now in just awaiting the newsflow, either positive or negative, from the new Chairman. In the meantime there has been an indication of trading numbers that is positive in nature. KPMG have been involved for 7 weeks and the results of their strategic review can surely be no more than another six weeks away at the most. The SP has remained relatively static over the period since their engagement. The volumes of shares changing hands are very small and the vast bulk of shareholders are looking forward positively to the outcome of the review and/or direction that the new Chairman wishes to follow to improve shareholder value. The latent value that is hidden within this company together with the lack of ambition to fix problems with the metering business has held the company back. The investigations that I have carried out have underpinned my original thoughts on the business. The opportunities are clearly there and there is significant value to be extracted by the right management team. The company is disjointed and there is no effective leadership. The metering business has been allowed to flounder and it is inefficiency that has caused the losses rather than the business model being unviable. The ability to expand the coverage of smart meters from 300,000 to north of 1,000,000 is perfectly within the capabilities of a competent management team. Sadly this is probably not possible with the existing team who appear to be wholly defective in the art of selling . On a positive note this is an easy fix. The PR/ Media is woeful and in fairness this holds the selling ability back too. I had spoken with two long established staff with Eon who had never even heard of bGlobal despite them being shown as a partner of Eon's own website. Personally I do not think that Bglobal as it stands would offer anything that Samsung would not prefer to develop in house from the ground up and as such the JV or the prospect of Samsung becoming involved to any large extent is hugely unlikely. The business does however have a pool of extremely talented and loyal employees. The mobilisation of those employees will quickly, and I mean quickly, turn the existing results around. A quick fire sale would possibly increase shareholder value but not really by all that much. Shylock has already posted his thoughts on this and the business could easily be broken up and with a fair wind sold for in the region of 12p-16p. This in my opinion would be a retrograde step and would materially undervalue the opportunity. I invested relatively heavily here at almost the bottom of the market and I have considerable shareholding that I am quite happy to sit on for 5-10 years. I really hope the bean counters at KPMG come to the same conclusion. No-one ever went broke taking a profit however if these shares are let go for say 12p then I really feel it will be a huge opportunity lost.

What planet are you on? This "fruit machine operator" is a well run business with a proven track record and are arguably a market leader. On the other hand Ladrokes is now little more than an extremely poorly run business that has been bolstered in recent years only by flooding its high street shops with FOBT's errrrr...Fruit machines!. The short term boost from that is now subsiding and what remains is very little of consequence. There are undoubtedly opportunities however the current Board and in particular the dithering and clueless Richard Glynn have ZERO chance of extracting the value. Twice they gave up on 888 and this will in time prove to be their largest mistake. Playtech will be their saviour in the online offering. The fact that Playtech may be building up a stake/ circling in the wings is an extremely positive sign as it demonstrates that they at least see the growth opportunities. The Betdaq opportunity will be wasted by the currrent crop of morons who have been shown up as incompetents presiding over a period of wasted opportunity as all of their peers made hay when the sun shone. The quicker that a change of direction, whether internally or by takeover, the better.

The man is a deluded idiot who no-one but no-one thinks will ever be Prime Minister. His approval ratings are at the source of this "policy" if you could even term it as such. This will be forgotten about within a month and people will go back to regarding him as totally irrelevant once again. The energy pricing in the UK is not the issue, the pricing is below European averages, the issue is the lack of energy efficiency both at producer and final user levels. I always vote Labour and I think that he is without question dead in the water already. This is I think a great buyiing opportunity

I'm not the one to ask. I am holding a large chunk of shares purchased at a very low price and I intend to keep them for my retirement. The price over the next 20 years is irrelevant to me. If it fails then so be it however this for me was just a gamble in a company I thought could perform really well with the correct people at the helm. Refer to shylock's earlier posts in respect of the likely valuation achievable if the business is sold. Personally I think at a market capital of £10m it cannot have much further to rise without some meaningful news on progress that may of course be utterly benign, positive or negative. Day traders may of course "play" with this in the days immediately prior toi the AGM which would be little more than gambling on the sentiment after the AGM. Chances are though, there will be little or no news.

Seems like everybody is awaiting the AGM and the gains over the past few days have not dissuaded further buying. At this rate the company will be valued at north of £10m even before the AGM. Good to see the confidence shown by the existing holders. Roll on the results of the review. Good luck to all holders here

Although I absolutely agree with you that there is little likelihood of any meaningful news at the AGM the underlying sentiment of a positive outcome is now bringing buyers out. This may of course be temporary until the AGM and thereafter followed by a sell off as happened recently after the strong upward trend. No matter what though, if buys of a few hundred thousand shares out of an issued share capital of 106m can drive the price up 20% in two days (on no news) then the prospect of a real tussle to gain ownership of significant holding will inevitably drive the price up extremely sharply. The converse is of course equally true. Interesting times however I agree it is of no real consequence to holders looking for longer term value. The movements in the near term are likely to be transient. a few folks will win and a few folks will get caught out. Good luck to all.

You may well be correct. I just get an oveririding feeling that in the latter part of Kennedy Snr's period in office that there was some form of jiggery pokery that upset the others. This would not have had to be illegal or perhaps even all that bad in it's own right. This may just have been presentational in terms of a skewed bias towards performance in individual components of the business or recoverability of inter company balances. if for example around £0.5m of profitability of the software company is actually derived from another part of the business. This would place an entirely different emphasis on the investment decisions that the existing shareholder base has in front of them. Equally the poorly performing parts of the business could have been presented as doing slightly less badly. Family run businesses are often subject to emotional attachment culminating in the formation of irrational decisions to allow the retention of all of the constituent parts rather than cold hard business logic. In saying that.Kennedy Snr clearly wanted to diversify within the sector as well There must have been more than just than poor performance that caused this level of rift. To me it is difficult to comprehend that the entire Kennedy family would not have been collectively involved.

The availability of HSDL is certainly very limited. You could buy up to 25,000 yesterday at 6.8p but no more than 25,000 and now the pricing is 7p even for 10,000. I would be investing further but I just have a sneaking suspicion that the Kennedy Jnr saga may uncover something unpleasant. This may or may not offer a better opportunity to add a few more at a better rate than at present. Who knows though!

In fairness if you read down the thread shylock already answered this. The market makers will be pulling all of the strings in the intervening period so things may be distorted in the meantime.

There has been extremely modest buying. One particular investor has so much confidence that he/ she invested £4.41 for 65 shares. Presumably the dealing fee of £10 would only take the cost per share up to 22p. Now I am no maths whizz but even I cringe at the arithmetically challenged decision there. I'm perhaps cynical but KPMG like most of these firms will make a meal of this and milk the task for all it is worth and if they can justify three months then I'm sure they will manage to do so. Thanks for referring me to the trades, I must just have read it incorrectly. Are you able to get quotes for purchases above 25,000 shares at the moment ?

With regards to the review. Given that KPMG were only appointed in late August they will probably take at least three months or so to complete this. The Directors would then need time to review it and probably consider it over the festive period. In all likelihood there is not likely to be any word from the Board this side of Christmas. The outcome of Kennedy Jnr's suspension should be announced shortly as presumably he is still entitled to salary in the meantime of circa £20k per month. If there is a valid reason for termination then the quicker this is resolved the quicker the £20k can be added back to the profitability. Where did you get the buys and sells stats shylock? I can only see two trades yesterday, even on the sites you referred to me last time.