Member Info for Ups1de

Have to agree it's a stretch to expect this lot to sort things but surely the directors can see the need for new, better leadership. Interesting to note no material insider buying since the price crash - maybe some of the doom merchants are right. However under decent leadership if one believes the book value & modest earnings growth (5%) for the next few years this share is worth well north of £1.60. Under strong leadership that masters rather than screws up the digital opportunity say goodbye to £2. Having bought in( too impatiently at 104p) I'm willing to wait.

I always find it amusing when any poster thinks any of our messages can make a blind bit of difference to the direction of any ' material ' share.All our holdings are inconsequential to the overall volume tide. In saying that what successful posters say about any share can influence my thinking...and Jolly ( when he is not winding someone up) is such a sage.

Would be nice to catch them short( so to speak). However I think we need to be north of 50p to worry Enismore?

Thanks. A sensible plan.certainly liking the more upbeat chat about oil sector outlook. Though I still fear a weak 2016 before turning up strongly in 2017 as emerging economies/Europe picks up & Opec cuts N American rig count significantly. Thank you

Hopefully see 1900 pretty soon....then bale for the next correction as the 2016 supply glut depresses mood?Todays IMF report in Times appears to back up concerns over weak global growth. Or would 1900 be too early,Thoughts?

£42.15 a share cash very fair.Altria approve...take the money SAB.Well done on getting to this level.Lets see if the other major shareholder agrees as the part share deal on 41% limits their tax bills.

I've been delighted by the move having bought under 1600 but wonder if it can last. Not according to Mr Currie of Goldman Sacs: far more downside risk( Iran / Etc supply hikes) than demand opportunity. ( certainly not enough to cough up an extra million brls a day). Sees a $45/brl 2016 price. Who to believe?Bale at 1900 & re enter ?.. Or just ride out for long term gains( & nice divi)

He hasnt much of a clue on how to value technology or Saas companies. Gbo has a strong balance sheet; is gaining traction & market share in very fast growing markets; has demonstrated excellent ( if slightly over stated margins); has quality management with significant skin in the game ; have reconfirmed they haven't decided yet on high yield bond or mostly importantly it's coupon . IF they do see a transformational rather than bolt on acquisition they could pay a significant coupon & still win. I'm encouraged Costis is loathe to use our equity ( boxed in anyway) as he knows it's materially undervalued. What next from the shorters?!

Looks like market had over reacted. 1. Look at the business they are in ? Specialist with a built in moat( trust & expertise). 2. Look at the strength of the balance sheet ( significant net assets worth well over £1 a share) 3. Assets that will eventually deliver good net margin( recently invested in quality merchandise ). Of course the share price deserved to be hit as 1. Management haven't delivered & need a rocket. 2. Core business not growing 3. Shocking performance in digital space & massive wasted IT spend ....but these headwinds can be fixed & then SGI will deserve a rating over £2 a share. Meantime a 4.8% yield . It will come back stronger in 2016- not much fun for ' traders' but an decent ' investment recovery play'

Interesting discussion on the shorting activity during Q&A:,they clearly have a significant % of free float & the ability to manipulate what is a gem for their type( business that is difficult to understand,past missteps,Allegedly Greek!, high receivables).Perfect for rinse & repeat profits unless share price break outs. As an investor here longer term I have every confidence Costis &'his team will deliver .However traders will moan & be spooked & shorting activity has hurt GBO directly by eliminating its ability to cost effectively access new money via equity( no way Costis will raise funds too cheaply unlike other Aim enTIT ies)

Who listened especially to Q&A ? Our man Andreas from Denmark got to ask some good questions.Andreas,have you updated your valuation & if so would you share it.? Again,I was encouraged by what Costis said.Providing we have good expertise in sales force the direct selling strategy pays off big given our broad product line up to maximise return from inevitably high prospecting cost, & a strong recurring revenue stream in N American mid sized company sector Good discussion also on the merits of our M&A activity .The initial acquisition cost again very reasons & earn out structured shrewdly.

We will see another positive interim update ...that will be slammed by shorters. If the Wild West aim market isn't a good home for GBO I can see it being acquired by technology orientated US VC.its dirt cheap

Of course there is another scenario: Saudis carry on the job of dampening NAmerican Shale; BG deal blocked ( or called off as market realise the huge cash call in 2017); Rdsb cuts dividend following a raft of other Global players who see a prolonged downturn ; a very mild winter. I'm not convinced we can call the bottom yet especially with a nervy US stock market.

IF Chinese official GDP growth is hogwash ( commodities demand drag) & IF China significantly sells off US treasury stock( global equity market drag) then we could see further material share price decline here. Maybe touch unlucky 1300 - it's < 20% from here .Sentinent towards oil majors IF medium (not short term ) outlook is gloomy- Goldman S predicting $20/brl(!) then WAIT before buying in . I was pleased with myself buying in at 1699 p a couple of weeks ago. Not sure now

Won't be easy money if the deal doesn't go through... What price BG then ?

It's all very well getting a ' promise' to pay 2015 & 16 dividends... But how will they be funded?! Not out of free cashflow. The earnings hit is so profound currently that the combination of sensible Capex & working capital cuts isn't enough . So dividend payout & BG deal means DEBT. Yes RDS can take it on but IF oil price remains this low for many months share price isn't going anywhere appealing. And why would price go up given Iran supply on stream,Saudi ' anti shake' attack , China slowdown. I remember posting when RDSB was around 2100 suggesting it might bottom at 1900. Sadly now I see us hitting 1500 before 1700.

Thanks I agree. I am pleased to see working capital turnover multiple is REDUCING as GBO gains traction in N America( receivables). Costis recognises that there is a ' penetration/ market share' land grab & is aggressively REINVESTING in the early adoption phase. ( free cash flows). SAS models don't please traditional accountants but boy if the recurring revenue model works( & GBO does ) you end up eventually with one mother of a dripping cash roast !Keep the faith.

Upenn, what's your take on poor profit conversion to cash flow & high receivables?

Upenn,you have provided several sound relative valuation summaries.In addition,I have carried out several intrinsic analyses(as helpfully has Andreas from Symmetry).They confirm significant value ups1de.But there is one other significant reason I remain confident & invsted : Costis.Every time I hear him handle results Q&A I am impressed;he has significant ' skin in the game';he has promptly & personally responded to my own questions; and most critically he took himself & his family to the heart of the action on the West Coast of the USA.There are few investment opportunities like GBO which will relate gradually on contract & growth news.

Just as matters improve on so many fronts some investors choose to bail out prematurely. Why is it premature?The markets GBO serve are set for double digit growth; GBO products are well thought of & even just 1% market share in byod and apps is worth over 100m€; irrespective of what any doubters may claim the current balance sheet is strong ;haircut receivables & crimp margins for zealous capitalisation & you still get valution very modest in relation to the sector. I applaud uppen's top slicing stance :150+. Frankly I'll be gone before then but certainly won't even be tempted before 90p. If GBO announce a major contract & get the end June update right our fan base will grow rapidly & please this board's stalwarts.