Member Info for Prudent4

Good advice, but I do suspect anyone waiting for the last Holdings RNS will be waiting a very long time. Invesco's own statutory filings show it has made major divestment of FDEV since the calamitious trading update of January, yet Frontier has issued none of the many expected Holdings RNSes on this. Frontier's NOMAD should be asking questions as a matter of utmost urgency.

Who is the buyer indeed.

Frontier's most recent TR-1 purchase notification identifies High Street Partners, Ltd and Working Capital Parners, Ltd. as aquiring 5% of the company - the largest acquisition since 2017.

Yet both entities are recorded at Companies House as having been dissolved prior to the purchase.

The reason is surely obvious. Underperforming product, questionable accounting and stubborn refusal to acknowledge let alone act upon the fundamental failures.

Swedbank Robur's continued dumping is confirmed by a TR-1 RNS this morning.

Yes Temuchin, the trade of 10,544 shares at 16:35. But no it is not a buy. The London Stock Exchange data feed shows it to be UT not buy. If your feed shows buy, you might benefit from switching to an accurate feed.

Regarding the basis for conclusion being a single trade, you can see a repeat occured today, Wednesday. I predict you will see the same tommorow, and indeed every day until these major investors have completed their FDEV dump. At current rate, this will be approximately two years hence. Meanwhile uou will see the dumpers identified as Swedbank Robur and Invesco in Frontier's next AIM R26 update, just as they were in the previous, in August.

Earlier today I wrote "Whether today's announcement will be any remedy for that will be revealed in 1min - at the 16:35 dump slot time."

And the dump happened. Regular, daily 16:35, trade type UT. Todsy 10,544 shares, 2,425,120 GBP.

With high certainty, I conclude that the exiting major stockholders Swedbank Robur and/or Invesco are continuing the divestment which has driven down the share price in recent months regardless of today's turnaround plan announcement. I will of course observe at the same time tomorrow.

"A UT buy". A misunderstanding.

Investors Chronical explains UT well.

Many private investors don’t understand how uncrossing trades work. This means private investors often miss out on the best prices of the trading day. Furthermore, this lack of understanding costs them in terms of execution as we can use the uncrossing trade to work better prices.

This article will explain the uncrossing trade, how an uncrossing trade works, and how we can take part in the uncrossing trade.

What is an uncrossing trade?

An uncrossing trade is where buyers on the bid and sellers on the ask match together in a single trade at the end of an auction period. The uncrossing trade shows up with the trade code “UT” on the London Stock Exchange.

Then todays news and not news would be encouraging.

I believe Frontier's biggest problem is loss of confidence of its major investors.

Whether today's announcement will be any remedy for that will be revealed in 1min - at the 16:35 dump slot time.

Frontier haa announced on Steam that it has cut the price of all editions of Warhammer Age of Sigmar Realms of Ruin by 10% and is issuing refunds to all who have already purchased.

I would say that such a dramatic statement of lack of confidence in the value of one's own product at such a late stage in proceedings is extremely courageous.

Faulks, Showing good cards is the only way the board can lift the SP and thereby the likelyhood of a new issue raising sufficient cash. Ergo the fact the cards are being held so close to chest is undoubtably because these cards are far from good. A better view of those cards should be afforded by the next trading update.

The realisable value of Mr Braben's shares is a good deal lower than any other FDEV share. Nearer 20p than the 200p your figure suggests.

One reason is the devaluative effect of selling. We saw the IIs' recent disposal of 3% of issued shares depressed their remaining ~12%'s value by ~50%. Had that disposal been Mr Braben's, the devaluation would have been of his remaining 30%. Now consider the same effect upon the next 3%, and the next 3%, etc.

Another reason is the effect of the idetity of the seller on confidence in the company and thereby on share price. Outsider IIs showing they believe the company not worth 200p would be somewhat damaging, but insider Mr Braben showing he believes same would be devastating.

In practice however Mr Braben would probably boost the value to buyer of a disposal by offering his resignation. Indeed his stepping down as President might alone sufficiently raise confidence of major investors and hence his holding's value. This is true notwishstanding that his stepping down as CEO last year for it seems probably the same reason has unfortunately yet to yield the benefit to any shareholder.

"£36 to £2 indicates the ‘train went over the cliff’ is pretty old news."

The train to which I refer is the business rather than the share price, as I thought was clear. The wise investor understands they are very different things, often connected only indirectly. In this case, the business news of this video has yet to reach most investors.

"Plenty of vultures will be considering their opinions at this price."

I find vultures rarely attempt to catch falling trains, or perch directly under one. They await the crash then pick through the remains. Hence my comment about buying shares at cash value.

Regards.

Fillipo. You are welcome.

Your question about share price influence, cascudo"s answer says it all.

Your question about the Warhammer game development cost, £20m is the figure from the CFO in the results presentation video call. Plus £3-4m for marketing.

If you might buy FDEV at any price above cash value you should view that video taking close note of the info the CEO and CFO is witholding and the analyst questions they refuse to answer. There are more red flags than I can count. I did think this share was a train speeding towards a cliff edge, but able to stop.. The video tells me this train has already gone over the cliff and is on its way down to the ground. Time will tell, sooner rather than later.

Best wishes and good luck.

To crypto. OK so you are betting on Warhammer, but where is the sense in placing that bet now and then losing half your value over the next month of SP drop? Just hold back for one month and buy at the bottom the day before the Warhammer release.

"We know the free float is relatively small here which tends to emphasise moves in either direction."

Is that your theory for the one direction the SP has gone since the day of the last flopped game release? Down. 60%.

I think the better theory is the bank investor is pulling out, as we can see from the TR-1s on RNS. Hence the daily autosell driving down the SP.

The Warhammer question is not will it be less bad than it looks, or even how much of its ridiculous £20m development cost will have to be written off. It is, is it the start of a credible recovery plan that will persuade the bank to turn off its autosell?

Good luck with your buy in. See you in a week when you've lost another 15%.

BoS not stupid? I would not bet on that. The four of them who bought shares this year before the F1 Manager release lost 50% of value.

However I would agree they are not so stupid as to buy now - before the F1 Manager 2024 sales figures are released, tanking the SP.

What kind of RNS do you think could have a holding effect?

Trading update? It would have to cough up the tragic sales figures for F1 Manager that the board concealed from last week's report, and equally tragic for the new Warhammer game, so the board will want to delay it until after November's game release.

to cascudi.

regarding shorters needing availability, all i can say that since january shorting has dropped to zero despite availability not dropping in the slightest- and arguably rising.

regarding price depression being due to tree shaking for a big buy order, this looks improbable for two reasons. one, the depressions caused by tree shakes are normally small, brief and sp****, whereas fdev's decline is none of these. two, any big buy order would be filled by our two big dumpers, obviating the need for any tree shake.

so the simplest explanation remains the best. the decline is caused by the daily autosells that are offloading the 10% of issued shares held by exiters swedbank and invesco.

The short tracker threshold is low, showing lots of significant FDEV shorting prior to January's 50% plunge.

But it now shows none, which makes sense since the previous shorters will have closed out at the plunge, and the SP is now too low to be as attractive to them.

Shorters? What shorters? The short tracker shows no shorters.