Member Info for Malbright06

The most important factor in determining post capital return share price, will be the actual cash position at that time. As you indicated the latest RNS did confirm a cash position of approx £90 million equivalent to a cash equivalent of 195p per share. However as I indicated in an earlier post there is bound to have been some cash burn in recent months, and even more so in the light of the Covid 19 business lockdown. I highlighted the cash burn between June and December so am expecting even higher cash burn. The Ingenie business is still loss making and is surely absorbing some cash and not sure it really has any notional value. So my best estimates are that post capital return they will be left with only around £20 million in cash plus an ongoing loss making rump. With the 46 million shares in operation I would expect like you a share price of 30-40p but no surge, just more agony and waiting for us long suffering shareholders as we await the complete windup of the company.

Having bought another 5K worth when the price was 102p was hoping to dive in again today but NOT with this spread. what the **** ? A 10p spread between buy and sell. Someone's taking the Mickey here. Just a few days ago we had a 4 p spread. Is this a reflection of the low number of shares actually in free circulation with II'S holding the majority. ??

6 trades today all sells no buys and price goes up 2.5p ?? Explain ?
Similar story last week with several days of large sells far exceeding any buys and price went up on those days. Go figure.

In further support of my suggestion of ongoing cash burn, if we take the total cash as at 30th June 2019 (per the report) of £41.1m and we add to that the £39m from the escrow account we arrive at £ 80.1M total cash. Yet the cash reported at end December 2019 was only £71.6m meaning that in the last 6 months there was an effective cash burn of £8.5m just in running the business. So we can reasonably conclude that in the forthcoming period before first distribution there will continue to be some cash burn which will reduce the final amount that would be payable to shareholders. That's why the share price isn't really reacting. And of course there's still the SFO matter unresolved despite years of waiting.

Sorry both my calculator and my "Facts" were both off key in my earlier post. There are in fact 46m shares currently. What I'm not clear about is whether the £90m cash following sale of healthcare division already includes the agreed £39m released from the escrow account. If so then as has been pointed out the current cash position if all returned to shareholders would realise around 195p per share. HOWEVER there is bound to be some cash burn between now and the first distribution, to support the ongoing Ingenie business (and line the pockets of the directors). Plus there should be costs associated with the winding up of the business (lawyers and accountants always get a huge chunk), so I'm trying to be realistic and suggest that we probably won't get all of the current asset value by the time the business comes to a close.

With around 41 m shares in operation and a net cash of £90m if every single penny was distributed to shareholders this would result in a payout of $ 1.74 per share. After which there would be nothing left in the company other than Ingenie which is loss making so I would expect the SP to tank immediately after the first payout reflecting a very small company with probably ongoing small losses. Best hope if for them to sell Ingenie if anyone would be interested then it would be a clean out of the lot. There are bound to be other claims yet from the cash so it's unlikely that we are going to get more than around £ 1.54 per share which is precisely what we have now. Just my thoughts as someone who's been invested here for years and lost an absolute packet.

Think I mis calculated as initial price reaction is 27 p down. Jesus.

Oops the results were not as hoped for. Flat revenue, flat gross profit, and a loss per share of $0.05 compared to a profit of $0.16 to December 18. Cash generation was good however with net cash pretty constant despite the share buy backs. No dividend and no indication of further buy backs. No actual figures given for R1 actual sales and profit contribution so a smokescreen there. Full year expected results to be below expectations but "medium to long term" expected to be more profit generative. In other words a continuation of the usual R1 claptrap of "jam tomorrow". Still holding but don't expect any great share price reaction up or down this morning.

Just managed to buy in again at a touch below 180p so here's hoping this is a one day blip. Was fully expecting Tap to head beyond 250p and thus drag R1 along with it. Time will tell. One thing is for sure. With my 5 years of experience with this share I won't hold onto this quantity beyond a 200p price target and will then trade again.
Meantime my average in my SIPP and ISA is still stuck in the 455p to 600p range.

I was beginning to think my trading strategy had gone tits up, when I sold at 181p and saw the price move over 200p following the merger announcement. Now I see both Tap and RM1 are being pasted together today and my RM1 shares back well into the 170's again.
Its always one step forward and 2 steps back with this share.Still what can I do other than continue to hold onto all my other shares in RM1 and just hope and pray that eventually results will outweigh any market manipulation.
Problem is that results are hard to judge because no one year or period is compatible with the previous. There is always some purchase/merger/consolidation to muddy the waters and nobody can be sure what benefits these have brought to the company. Cash and actual profits always seem to be a bit murky. I do have confidence that finally this merger/takeover should bring really substantial benefits but the share price doesn't lie. As has been said ad infinitum this share was trading around 500p before Yume was announced and its been downhill ever since.

Quick question : Does a company who buy back their own shares need to issue an RNS in advance or can they just buy in the market and then announce they are quashing the shares ??

Yep sure enough the algo's kicked in with a number of tiny volume trades, each one a sell and the price duly falls by over 4%. The sells today greatly outnumbering the buys. I have been an investor for many years but NEVER have I encountered such a share that can be so easily manipulated by the market.
What is the end game I ask to continually take it down with these algorithm sells as the ultimate buys never seem to compensate. Lets say they make a few pennies each time its hardly going to make multi millions is it ??
Hey Ho I stay in it for the long term (whatever that is as it keeps getting longer !!!!)

In the few trading days over Xmas and New Year the trading volumes have been pathetically low so there's no real indication of sentiment going forward. Seems to be stuck in this trading range between the 170's and 180's.

My expectation, after selling at 181p following last results was that these bastard shorters would bring it down again to the 150's/160's (they seem to have absolute control over this share irrespective of results) so I was hoping to trade it over short terms and try to lock in small profits before next statement/results. The surprising price rise just before Xmas to above my last sell price put this on back burner, even though going forward I am very very confident that the price should shoot well beyond 250p.Its just trying to time the purchase.
I wish everyone who is actually invested in this share (as I am substantially) a very Happy New Year and hopefully by next December we'll all be looking at a 500p share.

Yes think I'll just trade this share for the time being at least until end Year results. If this goes to pattern I'll try to buy back in at around the 155p level, lock in a 10 % profit and sell. Its the only way to follow this stock. Its a shame because when it was back in the day of 485p (48.5 p old money) I was looking at getting to my break even point in my ISA holding at around 520p but looks like I'll be having to draw down my pension before we ever see those giddy heights again. Am reluctant to lock in a huge loss (having done so already with Quindell/Watchstone group which is now worth fuck all) so will continue to hold on and just trade a few thousand quids worth in short term.

As I expected we have again begun the usual drift in the share price immediately following results. Once I saw the pullback from the almost 200p share price during that first post results trading day, I immediately put in a stop loss sale of 181p having bought at 167p. Bloody good job I did as yesterday we saw a quite unjustified drop which continues further today.
This stock must be a shorter's wet dream. Although I remain a long term holder I just wonder what depths we will reach now until the next update/buy back announcement. Can they take it back to the 150's again ??
I'll be on watch for yet another buy in as its now pre-baked in that the price will once again rise as we near another trading update.

Given the rinse and repeat nature of this stock every single time pre and post results/update, yes I fully expect this to start today with a gradual decline over the coming month. My only hope, and I fear its possibly forlorn, is that it won't reach an ever lower bottom and get below the 145p.
However this time I hope I've locked in a small trading profit with a stop loss, so I'll try to trade it back when I see the expected bottom. Just missed out last time in the 140's.
I still think this share has a brighter future but as STT1 repeats an nauseam,it is a "show me the money/jam tomorrow share" You've got to think a bit that a company with a 175 mil turnover for 6 months can't even post a small profit. This EBITDA nonsense is largely ignored as there are always write downs and other items taking the EBITDA profit below the break even line.

Looks like I was spot on this morning with the price closing exactly 5p higher.

Sorry that should have read 900 p in new money.

Sorry but I for one have never posted the sort of negative commentary as STTI. My comments only reflect the reality and pain of being a long term and hopefully optimistic holder. I've been in this share since I bought at the around 90p some 4 years back but it has continually disappointed me.

As I said I've popped in a stop loss today just to protect the small gain of my recent purchase. I expect I'll be trading this share again in the next month or so and try to get another small gain.

Sorry it should read "algo's"