Member Info for Silverblade

Evening Sunday. It does appear difficult to justify based on the evidence; although there may have been a behind the scenes arrangement to keep the price above 6p - not sure how that would tie back to the buyback terms and conditions. What we do know is the money spent to date hasn’t led to any price increase, the shares have not been cancelled, and what has been spent probably equates to the revenue we have secured from the H2 .vip and .work sales. Frustrating. SB.

10 transactions to date
c. 5.8m mmx shares now held in treasury
Total spent: £351K
Total available: £1m (£649K remaining)
Average price paid per share: 6p
Share price at start of buyback (26.07.19): 6.25p
Current share price: 6p

SB

Your probably correct on the revenue issue bakky - but even at $1 a domain for .vip and work (and i have no idea if those are the correct prices) we have sold somewhere in the region of 300/400k .vip in H2 and about 100K .work - and both appear to have decent renewal levels for lost cost domains so bodes well for next year - even if the renewals are low $. This is one area of transparency i would like the company to be a bit more open on - we get geographic sales data I would like to see a bit more clarity on domain pricing beyond the purchase price data available from registrar sites. I would expect a trading statement covering full year 2019 in January - but was hoping we don't have to wait until then for an update - London, adultblock, blockchain, shareholder returns, 2020 guidance etc! TH and MS 2017 share options are exercisable on publication of 2019 accounts (c. April 2020) - and they need to be at least 9.4p to make any money - or they will lapse. Only 3.4p to go - but that's a 50%+ appreciation (£30m+) in company valuation from current. SB

Looks like 6.0013p is the new 6.044p....talk about barely holding 6p. Domains under management as reported on our own web site continue to show good growth in numbers - unclear as to revenue impact but there must be some......!!

Wonder if we will get a trading update before Mello investment event on 12/13th Nov? From memory SJL was due to be in the country around this time and was going to try and meet up with TH and Turcan. SJL - you out there?! Perhaps he has been contacted as part of the company's dialogue with investors on the various shareholder return options under consideration? SB

Picking up on your earlier points gents (male assumption on my part...) i wonder if there is another motive behind the potential tender offer. The previous offer to purchase 100m shares at 13p was at a premium of c.20% to the share price - and was fully subscribed. At that same time a further 42m shares were placed with Hony to raise £5.5m. And that was at a time when we had $30m in the back. As it stands, assuming the .London $5.1m goes through and bearing in mind the $2m restricted cash there won't be much left in the bank for any tender offer (although there will be H2 $ additions). However, as confirmed by SJL there is large II interest (he could have sold his shares twice over) at the current price, then there might be a similar placing planned to raise money for any wider tender offer and allowing investors in at a comparatively cheap price - or others to increase their relative % shareholdings. Or maybe they just announce a dividend......SB

I did wonder what these completely random registrations are for. Given they appear to be registered in bulk, can they be assigned to email addresses? Or can they provide some corporate server capacity? If not - what on earth is the play?! Clearly, I'm not in IT......SB

I’m with you on these issues Sunday. The company is completely different to what is was 3 years ago, and for me I think the next 6-12 months is when we will finally get to see the returns we anticipated all those years ago as investors. More recent posters don’t have that legacy - and have not been through some pretty grim times in the last 18 months as we have. I understand the deep frustration felt here / I’m not exactly happy with the losses I’m sitting on / but I do believe the management team are delivering a strong business although yes there have been some mistakes - some of them perhaps not fully in our control. Trying to sell the business failed - but at that point out numbers were a car crash and far from the sustainable business we are approaching, so ICM was the right course of action. The legacy issues were all inherited - if our team made those same mistakes fair enough to blame - but the reality is they are the team who have had to work through the problems with the available cash and cash flows - and we are approaching the time when these no longer hold the business back. As the song goes, it’s a long way to the top if you want to rock and roll. SB

YHAL - without the buyback the share price would be pretty much where it is now and we would have an extra £300k in the bank. You can't seriously think it has made any difference. SB

Possibly not bakky. It needs to be coupled with a general sales update and progress on the shareholder conversations re buyback (preferably to cancel it) , dividends, tender offer - and realistically those cannot conclude until we know our cash position towards year end as you noted previously - although we should have a pretty good indication by now - surely?! SB

Looks like someone was busy last night - look like purchases based on prices - lets see if these trades encourage a bit of price appreciation - goodness knows we could do with it. Possible conclusion of legacy issue leaking out? SB

= further buyback?! SB

It does appear that discontent is growing here at an alarming rate - the catalyst for some ligh at the end of tunnel is likely to be the settlement of .london - at which point it will be difficult for the company to avoid coming clean on its intention re shareholder returns. Looks like i was on the money with my 6.044p next trade shout - not that there was any real doubt! And Scotty I do not believe there can be any more skeletons in our cupboard - that would be truly poor management and i don't think that would be palatable to our II's. SB

Cant disagree much on that front bakky. Its bad news when we are close to our 12 month share price high at 6.044p. Lets hope our major shareholders agree on a plan and implement it soon; and hope that plan features a dividend. At least it seems the buyback is back on hold. SB

You are of course forgetting the results of the AGM voting in December! I think/hope we will hear an update before then. SB

Anyone care to predict the next trade price? I'm going out on a limb with 6.044. Looks like we are staying here until we get some good news.....SB

Morning all - as much as i would like you to be correct on the .fit pricing Tap - i just cant see how that could be the case based on the volume of registrations and the random registrations. Another c.5K today - great numbers - but i think we have to assume these are low value dollar registrations in the hope of decent renewal numbers and as such probably aligned to the .vip and .work propositions. Probably promotional work in the background we dont have clear visibility on. Some interesting chat at domainincite dot com at the moment in relation to a potential new release of gtld's now the 2012 is pretty much done. Some interesting observations from our very own Christa Taylor - certainly a lot of data analysing going on which would support the recent surge in registrations. Wonder when the next round starts and if we will be around to participate!! SB

Blimey SJL - you saying we can’t even give them away now!! Only joking you are of course correct - reservations are not sales. What will be interesting is the take up based on the available market from these two chain companies - potentiality indicating a wider global demand - and the growth of what was always a bit of clever domain innovation. Let’s hope adultblock sales are starting to register and we will have a strong final quarter. SB

In relation to the .luxe initiative i think this makes sense. Offering 500k blockchain individuals in the two partner companies a first year domain for free could reap big rewards if there is any meaningful renewal in year 2 / which will likely be based on ease of use - and as noted by others who use (Sunday) it is a stellar improvement on the 42 number code. It’s a potentially huge market and first mover advantage could build some decent revenue. SB

As it happens we have many premium domains available for paint!! Have a good weekend Tap et al. SB

Anyone care to volunteer being part of the 6.044p sale or purchase club....its a strange price to settle at......!! Wonder how close we at to the .London payment and if it merits an RNS - would be good to get some updates after the strong sales performance in the last month post the interim results and if we will exceed current financial guidance. SB