Member Info for Lukee

$14m spent on interest last year and then ending with free cash flow of $24m. Being around $38m without the interest. We hear a lot about EBITDA, but the cash Team Internet Group generates is huge, all during a very difficult year for search and now back to expected group growth.

I'm very surprised we haven't seen Verdane or TowerBrook Capital and similar funds look to take us private again as they did previously last year. A take private at 80p and zero debt at $350m and a near 9% return on free cash flow with a growing tech company, that's a bad idea for us shareholders at such a multiple.

That is very interesting edoinvestor, he did say that in conjunction of the antitrust claim. That puts a bottom of $192m for DIS sale, if used in the same context.

StraightAIM, apologies. "Materially more than $160m". Not marginally. My dyslexia got me there I think lol.

Thanks for correcting me!

Micheal (CEO) was very clear stating it is marginally higher than the £120m minimum they have stated too. Even the Zeus Research 40% uplift is of that £120m minimum and that doesn't include any debt reduction that has happened in FY26 H1 it would seem.

Interesting, I initially thought the antitrust claim was for the Shinez situation, but seems it maybe Google after reading the full information. Anyone else think of who else?

No surprises. Refinancing completed. DIS sale in the next months (potentially).

On March 17, 2026 interview CEO Michael Riedl states at 4:30 mins, that a sale of DIS would allow "part of it to settle debt.... But given that we expect a purchase price that would also exceed our gross debt by a wide margin" Gross debt is at $170m.

Also TIG already has $76m in cash/equivalents on hand. Looking at debt free with Comparison and Search divisions and at the low end $100m cash, but most likely more.

I just don't see it Bostonboy.

They have already confirmed multiple offers that would pay off net debt and have funds remaining. Minimum of $170m, but more likely $200m or more. At $200m we have more cash/cash equivalents than current market cap, debt free and Search and Comparison.

Can't see any info/news for the drop. Low volume and some larger sells. Classic TIG and AIM as we wait for news on Monday.

The refinancing shows we aren't a forced seller and any sale isn't going to go through overnight and the debt does need refinancing.

Expecting it all to be announced with full year results.

I'm frustrated with how long they have taken but...

DIS is a big part of the company. It will most likely need shareholder approval and shareholders won't have the full information until the full audited results for last year before any vote. They have there hands tied currently... But not for long.

That was a surprise notification that we finished up 5%. Strange UT at 39.

Yes MikeHA, you're most likely right there. Comparison is a very interesting one with its scalability, it could be massive in future, especially in the US which it hasn't got much of a foothold yet.

Appreciate the input. It wont be that long till we see H1 2026 with how fast this year is seemingly going!

StraightAIM, yeah I thought the same with France, it can't be doing better than Germany last year, can it?! Lol. If it is that would be huge news. Comparison very bullish though with its expansion.

DIS sold paying off all debt would be with gross debt is at $170m. They believe they will also have cash left over. A sale for $180m the bare minimum would be zero debt and cash/cash equivalents of $90m. It's very likely to be more than that though as Micheal has previously stated.

Https://youtu.be/OOlk2DbEWyI?si=MPuECkXBqBzMOlyr

Very bullish on Comparison and the expansion of France.

Confirms competing offers for DIS, which would clear all debt and have money left over seemingly!

Some great points Tetleys.

I've said this multiple times, but only a month ago Michael said during interview "Given that we expect a purchase price that would also exceed our gross debt by a wide margin" Gross Debt is at $168.8 million as last reported.

That is a sale price of more than "by a wide margin" of £125m. I think we're looking at a sale price of £150m/$200m. Which fully used to pay off debt is no debt with £90m/$120m cash/equivalents + Search and Comparison.

But you're right the market doesn't believe the board. Shinez situation, last years half year results and then an update a month or so after. Disaster.

That's around $160m. If DIS is sold it will be more than that.

Not much. They are using the £120m as the floor for DIS it seems.

Max himself has a personal 7% holding too and sits on the board.

He surely will want to maximise any sale.

I asked Google Gemini Pro... It wouldn't give me the full answer as says it's difficult to calculate/get the data.

But...

They acquired shares during the early years when the stock traded well below 50p, bought heavily during the 2023 peaks around £1.40 to £1.48, and continued accumulating in the 79p to 85p range throughout late 2024 and early 2025.