Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
gdog.... the same claims about the svb bonus payments appeared in our daily papers this morning as well.
https://www.msn.com/en-gb/money/other/svb-workers-were-paid-bonuses-just-hours-before-bank-collapsed/ar-AA18wCir
gdog, well, the standard $250k protection wont help us. I guess if Tremor has been impacted they will need to RNS on Monday or soon after. There was some mention on our National News of a possible SVB rescue by another bank. Anything being said stateside?
1gw/gdog....is there normally some sort of insurance in place to covers companies for such bank failure losses.?
gdog, thanks for your efforts. I guess it could impact the potential for another buyback.
Hope its not too serious for either Tremor or Peri.
From 1gw....The loan agreement is an exhibit to the 20-F for anyone willing to try to work out the default provisions.
From nurse ratchet.... Thx 1gw
Balls. That means there will be some SVB debt/credit insurance which will need to replaced pronto and I would imagine some of our cash on deposit given my comments on the SVG requirements to match. Let’s hope nearly all of it with rbc/hsbc/goldman
Worst case we may have £25m at risk at a guess if we’ve been sensible spreading deposits across multiple banks. If we have a matched lending and deposit with the same institution and the bank is in default does that mean we can net off against the loan or if the loan is in default does it trigger cross defaults with the other lenders. I am not a bank doc lawyer/expert. However lenders failure is not usual a scenario which would normally be covered in standard bank docs.
Even £25m at risk will kill the next buy back so who knows where the buyers will be for the tax in the next directors share vesting
Talk about a perfect storm
If the fd is worth his £10m a year he would have shifted all the cash out this week.
From 1gw...From the 20-F just filed, it looks to me as though the lead arranger (and one of the lenders and letter of credit issuers) for the $90m term loan and $90m RCF was RBC. One of the other lenders/letter of credit issuers was SVB, along with HSBC and Goldman Sachs.
Can't see any reference to where cash is held.
gdog...do you have any expertise here...
Just copying this lot across from advfm board. ...
Just when you thought the operational shambles was bad enough….Two observations on cash.
Roku has 497 mil deposited as cash with SVB. While it won’t sink them will blow a big hole in them. Any views as to what that does to the adtech ecosystem? I have no clue…
Tremor used to have a loan (2016) with SVB which I believe was repaid but they would have had cash on deposit as that is a usual SVB lending stipulation. I am hoping it’s no longer there… only 250k is insured and guaranteed for repayment.
Also I had a major scour in all the docs and can’t see who provided the amobee term loan and rcf. Go help us if SVB with a matching cash deposit.
That said, I am presuming that if there had been an issue, the market was open long enough on Nasdaq after the news broke for any relevant announcement to have been made by the company…. Unless the overselling of the stock has been the directors dumping everything post results pre SVB. Sad how little trust they have created amongst investors for me to even think like this.
Ps can anyone find who our lenders are? cont....
It’s pretty tough out there for adtech in general and in the prevailing climate it may take to the end of the year (2nd half/final Qtr, my guess)for ad spend to improve, but when it does, Tremor with Amobee fully integrated, Vidaa’s ACR data coffers full and filling and Tremor’s sales teams in full swing, I’m confident that Tremor will emerge as a formidable player in in the adtech space. Whereas the macro has impacted Tremor at a time when it is in the middle of integrating Amobee, Magnite warned, in its cc, that the whole sector has and still is feeling the impact. While expecting a rough one or two qtrs and many Armageddon predictions from the doomsters (they have their own agenda ). Time will see this through and I personally, remain fully confident with Tremor.
ripley94...... no, I was only interested in the transcript.
I don’t read any of Canute’s clap, as you know already. No sane person should waste a moment listening to a guy who’s spent a lifetime predicting Armageddon for everyone else’s investments while failing to see the Exocet missile that was heading straight into his own. Totally Plc now 18.5p. Canute has been buying into Totally plc since formation. I recall years ago, Canute was buying these at 90p+ and I remember he informed the board that he had filled his ISA when the share price was around 56p. Totally never recovered to those giddy heights ever again. What a loss. What a clown. But what a pleasure for me.
From the CC, it look almost certain that anther buyback will be announced when the current one ends.
After listening to the Magnite Q & A, I was somewhat expecting what we got this morning, hence my reason for advising all of you to lift your horizon for Tremor into the second half of this year and beyond. Magnite, said this at 30 mins in to their CC in regard to the macro conditions prevailing out there….”we are connected to every publisher, we see exactly what’s happening across the whole landscape and it’s universal in nature, macro in nature and as the economy improves, so to will growth”. Somewhere later in the call they said that no one in the ad tech sector is escaping the current conditions.
https://edge.media-server.com/mmc/p/h876is55
oops...'venue' should read 'revenue'
Irrespective of the outcome next Tuesday, I think people need to lift their horizon into the second half of this year for Amobee and Vidaa to impact meaningfully for Tremor. The 'venue' question was asked by Laura at the 25th Needham Growth Conference in January and answered by Ofer at about 13.56 minutes into that conversation.
https://wsw.com/webcast/needham128/trmr/2292897
Magnite 4Q22/Finals...
https://investor.magnite.com/news-releases/news-release-details/magnite-reports-record-fourth-quarter-and-full-year-2022-results
Ha...wrong link with last post.
Some ways to go yet folks....
https://www.msn.com/en-gb/entertainment/news/microsoft-chatbot-wants-to-suck-your-toes-and-nuzzle-sweetly/ar-AA17ChDc?ocid=msedgdhp&pc=U531&cvid=47f30635defb447c826a6b95ba4d733f