Member Info for RedNinja

1,500,000 and 1,748,404 buy trades today at 14:26, 14:29.
Someone has confidence in EBQ and buys on a falling day.

Mmm it seems to me that RQIH is steadily going more US centric.
Brickell, the biggest shareholder is owned by 777 Partners based in Miami.Presumably they got money from Brickell as they could not get backing closer to home.
They appear to be doing more deals in the US.
William Spiegel is American and when Alan Quilter retires there may be a US replacement.

RQIH does seem good value and I would be too surprised if it fell to a US predator.

J O Hambro target on RQIH :-
"Elsewhere we increased a number of stocks that were laggards, namely Galliford Try, Paragon,
Randall & Quilter, Diversified Gas & Oil, Tesco and Drax. All of these stocks, which collectively
account for 10% of the Fund, remain very attractively priced in our view. For example, Galliford Try
trades below the level of its average net cash position; Tesco trades on a free cashflow yield of
9%; Randall & Quilter is valued at 170p per share versus our target price of 363p; "

https://www.johcm.com/uk/news-views/details/2274/uk-equity-income-bulletin

Well to be sure RQIH has always been an up and down stock.
Rising on good results and then falling on lack of news. I mean the Irish acquisition yesterday didn't boost the share price possibly because of lack of figures.
However, the company has been a good regular returner of capital and appears set for growth in program management and legacy run offs. It looks like RQIH should do well if the politicians do not ruin the global economy.
Hopefully some good results and a slightly increased capital return on Monday should see us back over £2 were I agree we should be.

That's true, but I guess that depends on the investment abilities of the buyer and sellers.
RQIH is held by quite a few small cap specialists eg Slater Recovery and Income, Chelverton UK Dividend trust in addition of J O Hambro.
Thus hopefully they are not all wrong on RQIH

Mmm IMO not sure it is significant and sp rising slighly

How come ?

hp,
I was going to post earlier that it was holding up well.
However, looks like todays inflation jump has triggered a pretty wide sell off and HSS has succumbed as well.
Given that HSS has risen pretty fast I guess some re-tracing is not totally unexpected.
Red

hp

Could the share price get up to NAV levels ie around £4 ?
Looks like it better than many to resist inflation.

It's always good to take profits.
I'm letting it run for the longer term.

I see that J O HAMBRO CAPITAL MANAGEMENT LIMITED in yesterdays RNS have bought just over 1% to take their holding just over 7%.

A vote of confidence ahead of the results...

https://www.yorkshirepost.co.uk/business/how-tactus-group-aims-to-create-jobs-in-yorkshire-after-acquiring-a-sleeping-giant-3227675

Market unnerved by level of MobiTV $34 million losses last year , and the $75 million debt.
Can AMO management turn it round ?
Still the US appears to be recovering from Covid so could be a good time to buy.
I'm still holding and might buy a few more.

SF Times - 2/3/21:

Streaming TV company MobiTV reports net loss of $34M, files for Chapter 11 bankruptcy

Television streaming company MobiTV, based in Emeryville, filed for Chapter 11 bankruptcy reorganization Monday on the heels of huge financial loss for 2020.

In a note to partners, the company said the bankruptcy action "does not mean the company is going out of business," adding that it has secured $15.5 million in financing from T-Mobile to fund operations until it can figure out a way to remain in business and meet its debt obligation, likely by selling off assets.

While the pandemic lockdowns have been a boon for streaming services like Netflix, they were apparently a growth killer for MobiTV, which reported a net operating loss of $34 million for 2020. The company, which was founded 1999 to bring on-demand TV to mobile devices, generated $13.5 million in revenue last year.

"Although the company projected significant and material subscriber and revenue growth for 2020, the Covid-19 pandemic and related stay-at-home orders, materially impaired the company’s growth opportunities," CFO Terri Stevens declared in the bankruptcy filing. "As a result, the company found itself with limited liquidity and at risk of default under its debt agreements."

At the time of the bankruptcy filing, MobiTV owed $75 million and had roughly $19 million in assets.

Under Chapter 11 bankruptcy protection, the company plans to sell off assets and possibly attract a stalking horse bidder, which is when a potential buyer sets a minimum price with an initial bid for the assets, making it so that other bidders can't go any lower.

MobiTV earns its revenue through contracts with subscription television customers, broadband providers and cellular device carriers, which use its technology to build customizable streaming platforms.

In 2019, the company raised $50 million in funding and $21 million in 2017, from repeat investors Ally Bank and Oak Investment Partners.

MobiTV had 86 employees at the time of the filing, which disclosed that received a $3 million PPP loan.

The company expects the bankruptcy restructuring to be completed in several months.

Https://www.bizjournals.com/sanfrancisco/news/2021/03/02/streaming-tv-company-mobitv-files-chapter-11.html

All depends how things pan out with covid and the economy as a whole.
However, yes I'm looking for a return to pre-pandemic share price maybe over a year - eighteen months although I'd be pleased if that happened sooner.

So the ones they have to pay for ie 70% of 5% (ie 3.5% of diluted company shares) Options awarded to each recipient vest at a quoted share price of 31 pence.
Yes they would have to pay 31p a share for them if they took up their whole options, they have 3 years before they take up the options.
However, say in 3 years time the share price has reached 50p, they they could just see the options for around 19p an option ie share price in 3 years - option price =50p-31p = 19p.
Or they could sell sufficient of the options to pay fully for some shares without putting their hands in their pockets.

647k of shares in 2 trades shown on the 27th April.
Maybe a new stake builder is buying in and that has lifted the price.

I understood it as :-
- up to 5% of fully diluted share capital of company in scheme ie very generous
- 30% of the 5% ie 1.5 % of company given to management simply for being there on the dates 1/10/21, 1/10/22, and 1/10/23 ie they get 0.5% of company shares on each of those dates.
- 70% of 5% ie 3.5% given Options awarded to each recipient vest at a quoted share price of 31 pence ie NTA as was. They can vest these shares up to 36 months from the date of award.

I would have though Ian Smith's replacement will get his options ?

It always looked likely that they would get a fair chunk of the bad debt provision back.
However, I am thinking all the bad debt provision was excluded from NTA used in setting management share option exercise price, that is for the ones they had to pay for rather than got free. :-

https://www.investegate.co.uk/1pm-plc--time-/rns/new-share-option-scheme/202010290700095472D/

This company seems on the overly generous side to the management.