Member Info for Simon_Said

Hi SB. If you look at last year, they went to some effort to space news out throughout the year and did not restrict it to trading updates. I am not expecting a full-on trading update, but rather some separate news items relating to deals done in the interim period. When these are subsequently covered in the press, the share always does well. The RNS with 'all resolutions passed' is required by the stock exchange, always amuses me when people complain about the lack of content in them.

Heh - only 93k shares traded, fewer even than the very low 3 month daily average of 127k, but a few sales in the 10-20k range were enough to shave it down 4%. So what happens when they start dropping news in the runup to the AGM, and the IC start talking about it again? We've all seen how this one can move.

There simply aren't the shares in free float available for any substantial position-building. 63% in major investors hands, likely some more beyond that in sub-declarable amounts in institutions and lots in 'sticky' PI's. The trading pot for these shares is very small indeed, so anybody looking to acquire a substantial interest would need to approach the company directly.

Happy to take some this afternoon at sub 160p, nice timing pre AGM.

Over 63% of shares are held by major shareholders and the board of directors. Beyond that there are many private investors who hold the shares. The free float available on the market is tiny.

Appears they heard your call Potter! Do it again?

Could be some sort of collaboration/merger, but the whole point of the strategic review and hiring Headwaters was to generate value for shareholders, so it'll have to be a deal that in some way benefits both PI's and the c.63% of the company held by directors and major institutions. Otherwise there would be no point - the company is in profit and has no reason to undertake any corporate activity unless it's shareholder-accretive. Given the last RNS, we know they're arranging *something*, and there would be no reason to do so if it didn't bring value for shareholders.

Oh look you're copy and pasting your idiotic 'technical analysis' nonsense on here from ADVFN. Once again, a tiny, news driven AIM share is not the place for this crap. I mean, given that TA has been comprehensively debunked by a wide of academic studies and books at this point, I'd argue nowhere is the place for it.

Coldjoe your sudden change in tone of late is pretty transparent. No reason to suspect November or December. New asset deals should land much sooner, the company has £8-10m cash on-hand and is presently negotiating, trying to make deals. New deals should be imminent.

His options are interesting, 7.5m vesting at the end of 2018 subject to vesting conditions. Not sure what happens there in the case of buyout. As it stands the VWAP needs to be above 16p for 20 days before the vesting date. Toby's remuneration is heavily dependant on the success of MMX.

Indeed. Lombard Odier own 20.05% of MMX, the largest major shareholders. https://mmx.co/investors/share-information/major-shareholders/

People focus too much on TH here. At my last count, major/institutional investors and the BoD account for over 63% of shares in issue. That's excluding options too! There is tremendous alignment of interests here, and every reason for the BoD to have worked hard to bring about a positive conclusion. Whatever it is, after that last RNS it isn't 'business as usual'.

Important to remember this is not a forced sale. The company is now profitable. The only reason to sell is to return value to shareholders and to ensure the BoD's options vest in time. As Simon Thompson continually harps on about in his coverage of this company, it only makes sense for a sale to value the company at a price in excess of the 13p Goldstream Capital/Hony paid, and it would have to be a decent premium. Meanwhile the options packages held by both Toby Hall and Michael Salazar require the 20-day volume weighted average price to hit at least 16p to fully vest. The wording of the last RNS makes it clear something is being done, it won't just be 'no more review, business as usual' or there would be no cause for this delay. This makes it likely there is a deal, and for the reasons above I can't see why the deal wouldn't place a substantial premium on the present share price. The amount of selling in recent days hasn't been substantial, volume overall is pretty low in both directions. The share is out of the spotlight, many have moved on or were never aware of it in the first place. They won't look again until the IC reports on the sale of the company.

BoD are in a closed period, as anyone who has tried to contact them in recent weeks has discovered. No trading allowed for them. Meanwhile the actual volumes are tiny, so I'm not worrying about it. The SP moves on literally any volume now as it's so light. Market has missed this one and likely won't notice till Simon Thompson writes about it!

Coldjoe I take your point but new deals could drop here any moment, they're sitting on around 9m cash. Those deals should be very SP accretive. Also the buzz from H2 drills will start over the summer, won't have to wait for September for this stock to start attracting attention, drilling arrangements to be made etc. And 4 drills in H2 so far with likely at least as many again yet to come from the new deals.

jrlomax that's a bit of fuzzy logic there - by that logic no share would ever rise! It's about volume and that magical term 're-rating'.

Indeed sub. It's comical watching the excitement and despondance as the share simply dances around in a range from 21-24p. Every change in the wind is interpreted as the end of the world/beginning of nirvana. The share price needs volume buying, not the same pool of PI's trading in and out on the swings. That is why the company are seeing fund managers trying to encourage institutional buying, and I believe that is also part of the motivation behind the True deal, which puts concrete numbers to the company both immediately ($5.5m) and in perpetuity, making the company a more appealing and lower risk prospect for institutional investors.

156p was a dramatic reaction to a placing, there is no logical reason to assume the price should go there. Indeed, the price has returned above 170p now. The company is progressing and the next piece of news should be Google Play route migrations. As Simon Thompson summarised just over a month ago: 'It�s worth noting that Bango is in discussions with more than 30 mobile operators who are considering switching their Google Play routes to the Bango payment platform. �Some of these are really juicy,� says Mr Anderson, and with reason as the total upgrade opportunity is worth in excess of $3bn (�2.1bn) of end-user spend (EUS) on which Bango would take a small cut.' Even a small cut of >$3bn would be a significant boost to Bango's end user spend, remembering that costs are static.

Had a few more nibbles. Decided to build a position here given the RNS. Clearly something specific is being prepared. Simon Thompson has returned from annual leave so will be able to write up whatever happens right away, which is always helpful in getting the word out there.

Mole you're on completely the wrong track. The company confirmed to several of us at the event last week that they are visiting instis and fund managers to encourage them to buy shares on the open market. This has nothing to do with funding anything. No loans, bonds or equity. Just 'consider us for your clients'. Also pointless scouring trades for 'evidence' of this yet. As we've all been talking about today, the big boys likely won't start buying until there's a research note from a respected institution to support the buy-in. Take a few mins to read today's chat as this was all gone over. Cheers.