Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
I can't imagine ICM Acquisition was one of the original "unsolicited approaches" and unfortunately looks like a rescue deal and hence the time taken. However, dividend very much on the horizon which would be nice and valuable. Let's see what the market makes of it. Doesn't explain any delays on China rollout progress though and does appear that mgt time and attention has been taken off target for the last year to some degree. We need to shift gear now and push on?
Not as expected...
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I bed and ISA'd my last few share 23k outside my ISA this lunchtime at 12.31. Both reported as Sells... imagine a lot of others similarly bring mis reported as ever... Hopefully shielded just in time....
Is it $2.4m cash v $2.1m profit implying we've spend $0.3m on these and the process of applying / contesting etc
Personally, I very much dislike the short-term sp movement and having held at 20p many years ago at substantial profit I feel were just bobbing in the ocean and wish I'd taken the lift raft years ago. Unfortunately because I believed in the whole process I didn't. Still do believe we've got a better future than now - sp wise or I would be gone. Just disappointingly slow and this review period has been painful. I hope it comes to a positive end long before 2-3 years? However, I'd be happy to hold and reap dividends for evermore, not obsessed with a sale. Just that I'm getting nothing from this at the moment other than a dwindling profit and I think I must be the best part of c.8-9 years in now...
Huckster you told us that you'd spoken to TH on the 5th Dec, and were going to it had followed up with a letter/list of questions. You mentiinedcthe 2-3 yrs timeframe around that time too. Are you suggesting that is what TH told you? We have a buyer that's gonna buy us in 2-3 years time? Presumably at an agreed price that's much higher than today? Sounds fanciful if so. Why would anyone want to do that? It would suggest it's all contingent on performance and obviously if we don't hit the expectation it wouldn't happen - it's called risk and usually a buyer would price that a long with the opportunity and asset base to bid now not after the story has unfolded. Once the story has unfolded if we get where we want to be I'd like to think there's gonna be other buyers and a better price available to us so why would we commit to such a path now? It may be that I've just made up a scenario in my head and it's all wrong but from the little snippets you've dropped us this is where it seems to be?
Imagine if we'd gone for .FEST there'd be 3 good domains there...
That's what I thought but I think MGaz comments suggest he thinks some are expecting after the dot VIP to be released in Chinese characters.
MGaz, just want to clarify your comments re Chinese character .VIP I suspect you're expecting .VIP domains to be sold where .VIP are actually displayed in Chinese characters? I don't think this is the intention with this as we have only applied for .VIP in English. What I think they mean is to use Chinese Characters before the dot rather than just western characters. This is my undersranging but may be wrong. Honestly not looked to see is Chinese characters before the dot are already being used which if they are makes me look a little daft!
...or not...
My money is on unprecedented .Boston numbers blowing up the system... 😉
Thanks SKK
Anyone else finding that the proactive video has no sound? Tried on my phone and tablet. No sound on either.
Nice to see someone has read and correctly digested today's RNS! Very much holding for the future...
Well said Bakky. Seems people have made their own mind up of a decision today and it's not happened (no one ever has said it would) they've spat out the dummy and thrown a tantrum. Don't get me wrong I would have loved a positive conclusion (sale at 25p+ if it were to be a sale) or interested to hear other avenues of strategic development I've been here longer than I care to remember and it's certainly more than 7 years is have to hint out my first trade to confirm.
Operating Expenditure Following on from the restructuring of 2016, management has continued to manage down fixed OPEX, H1 fixed OPEX of $2.6million being 30% lower than that of the ongoing operations in H1 2016, and healthily within the $6million annual cap. It should be noted that the H1 2017 figure takes into account a number of senior hires made at the beginning of 2017 to strengthen business development activities. � OPEX a percentage of renewal billings As highlighted earlier, we have now completed the first period where fixed OPEX has been less than renewal billings ($2.6million to $3.1million) a trend we expect to continue into H2 2017 and beyond. This is a major milestone for the business as we continue developing towards our goal of being a significant annuity based company. � Gross margin One of our key KPI's set out in 2016 was for annual gross margins to be not less than 80%. As a result of certain annual marketing contract payment timings and the lower level of billings in the period, gross margin has dropped to 67% for the period (H1 2016, 84%). We expect this to be closer to our gross margin KPI goal by the end of 2017. � Ongoing growth Launching new TLDs, expanding registrations in launched TLDs in existing regions through new initiatives, as well as taking them into new regions, drives our growth. In the near term, this objective is being supported by the forthcoming launch of .boston in October and the ongoing business development/marketing initiatives in each of the regions across the portfolio. In the mid-term, the Company looks forward to further TLD releases both internationally and in China in 2018. The release schedule will be released at a later date as it is in part dependent on China's MIIT approval process for up to eight of the Company's properties in China. � Strategic review On 25 May 2017, MMX announced the appointment of Headwaters, a West Coast based US investment banking firm, to conduct a strategic review to look at all options open to the Group. The Company and Headwaters have held conversations with a number of strategic parties in the US, Europe and Asia and continue to explore a range of options to determine the best path forward, which may or may not result in an offer being made for the Company as a whole. A further update on progress will be provided when there are material developments. Strategic Review Costs � Following the successful restructuring of the business in 2016, the Group has incurred $143k (H1 2016:Nil) in strategic review costs as part of reviewing various strategic options open to it.
Certainly reads like an automated logic response based on % at each change in topic. All very generic...
Been struggling to access this site today via my phone DNS error messages. Started to Google issues with the site and found a support page that would load and then managed to navigate to here. I imagine I won't be alone so anticipate a quiet day... Anyone that can see this try loading lse from the top level domain address / home page with success?