Member Info for stt1

from thisismoney - mentions TW. and other housebuilders..

https://www.thisismoney.co.uk/money/investing/article-7094135/Tempting-investment-treats-look-appealing-leave-sour-aftertaste.html

The Acquisition provides Totally with a strong and commercially attractive opportunity to continue to execute its buy and build strategy, with the aim of building the Company into a leading out-of-hospital healthcare provider, providing more comprehensive services across the country, helping to address the significant healthcare challenges faced by the UK.

· The Acquisition allows the Group to obtain a further foothold in the urgent care sector in the UK with Greenbrook Healthcare being a leading provider of UCCs in the Greater London area.

· The Board believes the services offered by Greenbrook Healthcare are highly complementary to and offer synergies with the Group’s wholly-owned subsidiary Vocare Limited (“Vocare”), one of the UK’s leading national specialist providers of urgent care services.

· The total consideration for the Acquisition is £11.5 million on a cash free and debt free basis, with a normalised level of working capital.

· The Consideration will be satisfied by the payment of £9.0 million in cash on Completion and as to the remaining £2.5 million by the issue of the Consideration Shares on Completion. The cash consideration payable on Completion will be satisfied using the net proceeds raised pursuant to the Placing and the Open Offer and existing cash resources of the Company.

· Greenbrook Healthcare has experienced substantial revenue growth in recent years with revenue growing from £23.8 million in the financial year ended 31 March 2016 to £33.4 million in the year ended 31 March 2018 (equivalent to 40.1 per cent. growth over the two financial years).

· With effect from Admission, Michael Steel, the Chief Executive Officer of Greenbrook Healthcare, will join the Board as Executive Director.

https://healthcarebusiness.co.uk/totally-plc-proposed-acquisition-of-greenbrook-healthcare/

Totally Buys Greenbrook For GBP11.5 Million Amid Placing, Restoration (ALLISS)

"Adding such a well-regarded business as Greenbrook to our portfolio will provide us with a series of exciting growth opportunities in planned and unplanned care," Lawrence added. "Greenbrook's expertise and reputation in urgent care centres can be leveraged across our existing national network, in line with the NHS's commitment to integrated urgent care in its long-term plan."

"It will significantly strengthen our market positioning and allow us to deliver a wide spectrum of urgent care, driving revenue and margin growth in our core business," Lawrence continued. "Furthermore, it will enable us to quickly expand into the London and South East markets which are key growth territories for Totally."

http://www.morningstar.co.uk/uk/news/AN_1559293329858336100/totally-buys-greenbrook-for-gbp115-million-amid-placing-restoration-(alliss).aspx

TLY BoD have done exactly what they said they will..
I'm not sure anyone else could have raised money more than the current mcap in such a short space of time...

The GBH CEO coming in will provide valuable support to expand IUC but there are the other subsidiaries which he hasn't got experience in...

Tovers,

"Another acquisition lined up. I think TLY are demanding patience from their investors. Once they've consolidated the various entities, there should be potential for stable financial returns"

Exactly, TLY have a ADD and BUILD strategy...
They are building the company to have recurring revenues and profits..

Crucially, the deal would increase their foothold to include the lucrative London & the SE.

f15jcm,

"yes indeed, why would institutions pony up when there is a precedent for destroying value?"

Oh look, they just have....
TLY's strategy to ADD and BUILD continues as expected....

New IUC contracts being rolled out over the next 2 yrs...
Greenbrook operating in the lucrative London region...

Totally awarded £13.5m NHS contract

"The announcement represents another move by NHS management to outsource healthcare to private entities, with this trend occurring not only with agency personnel but also private operation of healthcare facilities."

https://ukinvestormagazine.co.uk/totally-awarded-13-5m-nhs-contract/

Graybird,

Sorry to see you lost money here.... I hope you recover it in future investments.

Always dyor and always read both bull and bear points.
Always read company/industry stats/challenges...

Kent & Sussex, IUC contract up for tender.. worth £91m...one of the biggest new IUC contracts...

Would be nice if TLY manage to get that one...

https://bbf.uk.com/contract/nhs111-clinical-assessment-service-for-kent-medway-sussex-ccgs

Mogbear,

Any change in govn tends to lead to changes in the NHS, although they tend to start small and local, ie local Health Authorities, CCGs..

Labour created the NHS, with many GPs working as self-employed, lots of agency workers..
Labour created the NHS Direct, which was continued by the Tories and renamed as the current NHS 111. Will they stop a service which was originally their idea???

Labour's big idea was NPfit, outsourced to private companies.. This project was to bring NHS Patient records to a central system...NPfit was a huge disaster and a complete waste of money. The central spine is run by BT. Imagine how much compensation BT will seek if their contract is terminated.

NHS Scotland GP systems were run by the Scottish Government. About a decade ago, the Scottish Government decided to outsource this to private companies..

So would a Labour govn ban outsourcing. I very much doubt it.
Will they make changes to NHS. Yes, most likely.. as govn like to stamp their own mark on any initiatives...

If the current outsourcing is a success then any govn, whether will, imo, continue it with some tweaks...
Given Parliament is currently struggling with Brexit, I very much doubt there will be any major changes to the core NHS for a long time.

The risk is there but I don't think it's a high as some people think...

NHS Direct:
https://en.wikipedia.org/wiki/NHS_Direct

NHS NPfit:
https://en.wikipedia.org/wiki/NHS_Connecting_for_Health

Plans to redress the Leasehold scandal on new build homes...

Leading developers sign leasehold reform pledge, but critics claim it’s ‘cobbled together’

"For existing leaseholds, developers have promised to help them move to RPI-indexed rises in ground rent regardless of whether they have previously asked to amend their leaseholds or not.

The pledge also requires developers not to insert onerous clauses in future agreements, and ensure details of each leasehold are represented in a ‘fair and transparent way’.

Developers have also agreed to put in place both appropriate complaints and redress schemes to reassure leaseholders that any future problems are dealt with appropriately."

https://thenegotiator.co.uk/leading-developers-sign-leasehold-reform-pledge-but-will-it-work/

There's been a massive drop in the fy19 rthm forecast... $470m to $250m...
(TAP fy2019 is Dec 2019, rthm is March 2019)

Shows that there are significant issues at rthm and the model will be integrating with TAP...

No wonder certain posters were desperate for others to ignore me and those red flags...

Read the thread/posts...

"It's a result for R1 as their management has always failed to deliver the goods, despite buying various outfits.
Little wonder Ofer Druker, CEO, did not want any of the old R1 'board' hanging around then."

The previous rthm management pre-Yume, always failed to deliver the goods...
Singer and co moved from Yume to rthm just over a year ago and then within MONTHS wanted out of rthm...
Sounds more like rthm BoD didn't want anything to do with rthm and so got shot of it in a hurry...2 CFOs resigning within 5 months suggests rthm have some serious issues....

Do you think rthm management found any skeletons and thought (as in your post from yesterday)...

"if you can't stand the heat then keep out of the kitchen"

well, there you go, as expected then...
History of bullish comments followed by disappointing results...

Rthm run a full stack..

"RhythmOne's trading in the year to March was below market expectations Taptica said today, though it still believes the acquisition was in its best interests."

https://www.proactiveinvestors.co.uk/companies/news/217736/taptica-ownership-of-rhythm-one-makes-low-key-start-217736.html

abstrade,

They are trading as TAP now..

Tricky,

"it's a dynamic ecosystem - if you can't stand the heat then keep out of the kitchen."

It seems like the rthm BoD couldn't stand the heat and decided they wanted out...
How many rthm BoD are joining the new 'hot', dynamic TAP?
;-)

I've warned about Industry Challenges for ages...since Methbot fraud over 2 yrs ago and P&G comments for a more transparent ad tech ecosystem...

Following Methbot over 2 yrs ago and P&G demands for transparency, there have been various changes...
2017 & 2018 was about the NEED for those and as previous posted, 2018 onwards is/was about the consequences of those industry challenges...

See my posting history...

More recently, the consequences seem to be filtering through... and many companies affected:
Criteo with Apple's ITP & the new Google's version of ITP.
https://adexchanger.com/online-advertising/what-would-google-chromes-version-of-itp-look-like/

Google with their exec claiming that affect of Apple's ITP has been severe..
https://adexchanger.com/industry-events/fallout-from-apple-itp-is-severe-and-seven-other-takeaways-from-google-exec-sean-downey-at-industry-preview/

TAP claiming 'Industry Headwinds' have affected them..
and many more...

and over the weekend..

Sizmek filed for Chapter 11 Bankruptcy..
http://videoadnews.com/2019/03/30/sizmek-files-for-chapter-11-bankruptcy/

Rthm (ex Blinkx) results over past 12yrs... revenue, cash and profit (loss) together with the sp at start of year...and their declining revenue, cash post the 2014 Blog and profit warning...

revenue cash(cash + equ) profit(loss)
fy2008 $6.5m, $39.4m, ($16m)

Jan 2009 - Blinkx buys 'certain' Zango assets after it's foreclosure

fy2009 $13.9m, $21.3m, ($8.8m)
2010: start sp: 175p
fy2010 $33.6m, $14.5m, ($8.5m)
2011: start sp: 832p
fy2011 $66.1m $52.8m $7.6m
2012: start sp: 777p
fy2012 $114.4m $38.4m $3.9m
2013: start sp: 657p
fy2013 $198m $55.9m $17.4m
2014: start s: 2065p
fy2014 $247.2m $126.9m $12.2m

Jan 2014 Blog
July 2014 profit warning - following which revenues and cash fell significantly and profit turned to losses

2015: start sp: 260p
fy2015 $214.9m $95.7m ($20.8m)
2016: start sp: 165p
fy2016 $166.7m $78.4m ($92.3m)
2017: start sp: 385p
fy2017 $175m $75m ($18.7m) *(inc Perk acquisition q3 2017)

Nov 2017 - $100m secured credit facility arranged. SVB have first charge

2018: start sp: 280p
fy2018 $255m $27m ($13.8m) (inc Rad1 & Yume acquisitions)

It's worth bearing in mind that Yume also announced a buy back and paid out a special dividend just weeks before the rthm/Yume takeover...

It didn't help.. The results show Yume's revenues were in decline...

Just months before the rthm/Yume deal was announced, Yume also announced a $10m buy back.

For fy2016, their results were : ** shows Rthm H1 results inc Yume...

Revenue: $160m (2015 $173m) ** rthm H1 Yume contribution $58m
Gross Margin 50% (2015 45%) ** rthm H1 margin 45%
Cash (and equivalents) $65.7m ** rthm H1 cash $22m

Their buy backs were around $3.61-$3.64..

https://www.businesswire.com/news/home/20170216006240/en/YuMe-Reports-Fourth-Quarter-Full-Year-2016

There was also a special divi of $1 a share, just before the rthm/Yume deal was announced...

Yume's last sp on Feb 1, BEFORE RTHM/YUME completion closed at $3.70. Compare that to the buy back prices, of $3.61-$3.64.

https://finance.yahoo.com/quote/YUME/

Special Divi announcement:
https://www.businesswire.com/news/home/20170622005385/en/YuMe-Declares-Special-Dividend-Quarterly-Dividend

Instadeth,

Trading in newly merged company set to start on Monday.

Proposed Buy Back:
"Taptica announces that it is the intention of the Enlarged Group to launch a $15 million discretionary share buy back programme to purchase shares in the market, commencing immediately following the completion of the proposed merger. "

https://www.investegate.co.uk/taptica-int--ltd/rns/recommended-offer-for-rhythmone-plc-by-taptica/201902040700059109O/