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Chambers has been milking this company. A smarmy narcissistic old man sucking on his lactating breast of a business. He made sure that it served its one and only purpose to deliver him a grossly inflated salary for 20 years. No intent or motivation to drive shareholder value. A disgrace and operating fundamentally against his fiduciary responsibilities as all the directors have been. This business has so much potential. Even at the revenues it has now, it should be generating at least £2m bottom line. Removal of these leaches will instantly deliver this. No justification for the levels of remuneration for this board for a business that is so simple to run in the stasis they have stupefied it into. But even when he is eventually ousted he cannot leave tail between legs and his little ruby ted face hidden by embarrassment rather than too much imbibing, no he has to rip another £1m from its already routinely raped coffers. No integrity and if we had proper oversight of listed businesses he should be facing charges of embezzlement. Enjoy your belated retirement, you only have red wine left to dull the pangs of the ego you can no longer service. Fraud!
So we know very clearly that the board is fully aware that a hostile takeover is underway. This is their attempt at assuaging long term shareholders that the ship is in good hands with old Clem at the helm. Pathetic actually and consistent with the small minded egotist Chambers is. What right minded shareholder would back this board against a £1.50 bid given the perform across 20 years. Chambers is just a lazy wage slave, no leadership nor requisite ability to run a sweet shop never mind ADVFN.
So old Clem has felt the need to come out fighting. Too little too late. This business with the right leadership should be generating £10m a year not a paltry £1m and having had to endure losses for pretty much £20 years. Run by Chambers as though it was his own private business. He needs to go. Let the takeover happen!
Yes 30% triggers the mandatory offer which must be no less than ‘... the highest price paid in the last 12 months..’. Clearly they will be aware of this and why they will not want the price to get too ridiculous. But of course the brokers will be involved and likely know the price they are willing to pay and will manage the price accordingly. Nothing in the city is left to the whim of urchins like us getting too rich from them. If they are willing to pay £1.50 the MM will know and ensure order below this price is maintained. Take a look at the who holds and you will see that there is only a 40% free float. That was when yair had only 9% so his extra 9% takes that to just 30% given we have no corresponding RNS that is from a notifiable holder having sold.
I agree tomorrow should be a strong day. May test £1 given the limited free float and justified momentum given the stake building. If it does I will offload a few more. That said I often sell too soon. Thought I was smart buying OBC for 20p and selling at 40p and we know what happened there. The markets are mad and there is a real possibility this could be hit by a deluge of bull traders and it could be carnage and the price could go mental!
Come on! £5 is £125m. Not going to happen. £1.50 max. The quicker they get to 30% the better for them. At 30% they must make an offer for the full share capital. The price range is governed by the related criteria which is based on recent pricing ranges. We will just have to wait and see, likely to not happen too quickly though. They are in no rush as yair has been accumulating for 18 months. They are not going to buy on the open market into a feeding frenzy. If it gets too toppy they will just wait to let it die down and eventually pounce when all is in their favour
Absolutely. This company is going private. I have watched it now for so long and indeed traded it into its infrequent dashes up and long depressing declines. Yair was an ex director of ADVFN so he knows the business intimately. He has gone from 4% to 18% across 3 cycles of purchasing. He is not investing to have old Clem look after his investment. He is a renowned mathematician and game theorist and know the financial markets and what ADVFN can be. It is a great brand with 4 million subscribers but pitiful revenue. It could be transformed to a £100m turnover business pretty quickly in the right hands. I think a market cap of @£25m or £1 a share is a reasonable take out price and leaves lots of upside for the new private owners. When I bought 5 years ago I expected it to be taken out within 2 years. Been a much longer wait then expected, but this time it will be taken out.
Clem needs to be shunted off this board. He owned this morning fewer shares than me but believes it is his personal company to sit on and draw a salary. Been holding these for nearly 5 years. 700000 nearly 3% and been selling some today. Now sat on 450000 at zero cost so will let these roll. Afn could be an absolute belter of business if run entrepreneurially. The old buffoon needs to be removed. Any price north of £1 will likely garner enough support. Clem won the last battle but his protestations of they wanted the business on the cheap now is seen for what it is! He ran this business to a standstill
and a share price of 10p. Go Clem you old fart!