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Welcome news on the contract front as intimated by the CEO recently and on track for broker forecasts and a net cash figure of circa £6.8m. Looks ludicrously cheap with the market cap still little more than £9m.

Interesting that they have already had people knocking on the door, but with clearly what were deemed as low ball offers, so its reasonable to assume that someone will take that to a more serious level.

Good to see positive trading and ahead of expectations with revenue at least £0.5m up.

Should see PBT nudge up too, although no broker note due to the ongoing review which should be concluded soon I hope.

Gone XD for 1.95p, so will be off a bit.

Write up that will hopefully be of some interest to others either holding or watching.

https://martinflitton1.wixsite.com/privatepunter

A fairly recent purchase for me here and added a few more today following a call with Edward Mountney and Charlie Wright this morning.

I'll be working on a write up following that and will hopefully post a link over the weekend for interest.

CNC!

I picked that up from one of the threads on another company within the Downing portfolio.

However, I believe that it is actually a year on as in November 2025.

Hopefully speaking with management at the end of the month when the review is concluded so I'll try and get a definitive on it.

Good thing with the acquisition assets, is that I suspect they have paid little or its deferred, but it should in time, provide a nice boost to revenue.

I'm pretty sure it was triggered by Downing.

The news yesterday was something of a surprise to me and Downing appear to have got themselves in a right pickle with this.

That said, Graham Bryce appears to be a bit of hitter having been at Bauer, so could potentially be a good addition to the board. However, given Downing's approach, I can't see how the Directors who are major holders will be warming to this and alongside that, what is the real agenda of Downing in making this move.

Additionally to the significant Director holdings, we also have Patrick Brennan via Storia with a significant holding that is almost equal to that of Downing.

I'm assuming that he is supportive of the board and the strategy, if so, Downing looks to be in something of a straight jacket.

It should be interesting to see how this plays out now, but the sooner Downing is out of the picture the better!

Interesting and seemingly fast moving developments, with no doubt a few things now in motion.

Downing has I believe, until November to exit here given the winding up of the fund and the now running down of the clock.

It's presence, given that process has been something of millstone for DBOX so it is good to see that it is now coming to a conclusion.

Various cards appear to be on the table, so it will be interesting to see how things play out in the next month or two.

Given the net cash position and cash generative nature of the business, it has clearly been undervalued and remains so, even after the lift today.

Question is, what will transpire here now. Downing has clearly instigated the news this morning where it hasn't been able to offload its shares on the market, or sell on to another party at an agreed price.

Dipped a toe in this morning (shown as a sell) as it's looking very good value at these levels.

Always found the Local World format decent when I had my slot at the Cambridge News, prior to Reach acquiring it, so hopefully some decent upside to come.

Very much in the value territory now as a recovery play for the patient.

All recruiters have been hit, but the cycle will change, whilst for now the yield is pretty attractive.

Write up for interest following my catch up on results day.

https://martinflitton1.wixsite.com/privatepunter/post/concurrent-technologies-continues-on-the-growth-path-09-09-24

Pulsiv news out tomorrow morning, unlikely to be sales related, but any further confirmation that they are on to something and gaining traction will be welcome.

Earlier this year the stake was valued at £9m which is a sizeable chunk of the current market cap.

Considerably undervalued and a clear opportunity for the (very) patient!

Clearly, Octopus has a longer term horizon than many private investors and it wouldn't be a surprise to see them adding again.

Write up from last week for interest, after a catch up with management.

https://martinflitton1.wixsite.com/privatepunter/post/concurrent-technologies-on-a-growth-footing-02-05-24

Agreed and it will be interesting to see just what transpires!

Given that there two and possibly a third party interested here, I'm a touch surprised with the sp drifting off.

Indications are that a firm bid is likely to be at least £500m, but given the potential for a bidding war, then we could be someway over that. Always the possibility that nothing will materialise, but given other more recent examples on the market, I'm happy to let it run.

Write up for interest.

https://martinflitton1.wixsite.com/privatepunter/post/igr-on-the-recovery-road-30-04-23

I have a call lined up with management on the 16th to coincide with the pre-close TU.

Will add the write up for interest following that.

Comment from the broker this morning, where the shares trade on a fwd (next year) PER of 7 based on what appear to be conservative numbers.

2023 was an incredibly tough year in online B2C media. The macro weakness combined with platform volatility impacted publishers hard. DBOX didn’t take it lying down, it adapted to the platform hit via expansion of the social follower base

and drove session values. This resulted in delivering a modest profit and the business has seen a marked improvement in activity. With TV Guide also integrated successfully and contributing we expect to see a significant profit recovery even in a stable market. We flagged the upside risk to estimates in our January note and lift our EBITDA expectation for 2024 by 44%, albeit from a low base. We expect any improvement in UK macro to feed through and drive additional margin expansion.

Management continues to prove they can adapt and progress portfolio development in the toughest of environments. Beyond 2024 we expect a macro improvement and continuation of the optimisation of the portfolio to drive profitability. The shares should continue to recover as DBOX executes on the growth in mobile advertising opportunity.