Member Info for You_Having_a_Laugh

Blood on the carpet and some headcount reductions.

DBAY and Laxey are very well aware of their rights and are activist so I expect some use of the existing rules to force change. They have >5% and could gather 99 other supporting shareholders. The AGM could be interesting.

"Shareholders who represent at least 5% of the total voting rights and who have the right to vote at a particular general meeting, or 100 shareholders who have a right to vote at a particular general meeting and who hold shares that are paid-up to an average of at least GBP100 per shareholder, can require the company to circulate a statement to the other shareholders in relation to a matter to be considered at a general meeting."

Another example, https://www.theguardian.com/business/2005/dec/22/3

The holding via the Maltese Bank subsidiary of an Austrian Bank could be one of the activists in EU that have shook up some Swiss companies.

Will be under pressure from these people.

https://www.dailyrecord.co.uk/news/scottish-news/colin-kingsnorth-who-now-owns-1934850

Laxey might have been involved in the FSP.

Laxey and DBAY are related somehow and look at Eddie Stobart as example.

https://www.marketscreener.com/EDDIE-STOBART-LOGISTICS-P-34658195/news/Eddie-Stobart-Logistics-lenders-have-little-truck-for-Dbay-29583410/

Who owns ths Maltese money and are DBAY the face of Laxey. Laxey are a curious outfit

"LAXEY PARTNERS / DBAY ADVISORS CONNECTIONS

Laxey partners is the initial investor and majority owner of DBAY Advisors. Alexander Paiusco, the current CEO of DBAY Advisors, was previously employed by Laxey as a portfolio manager from Jan. 2006 to Oct. 2008. Saki Riffner, Chief Investment Officer of DBAY, is closely connected to Colin Kingsnorth, the principal of Laxey Partners. Riffner is listed in U.K. company records as a Director of Laxey Investment Trust Limited, together with Kingsnorth who also is listed as a director of the same entity. Colin Kingsnorth himself may now be serving as Chairman of DBAY while Alexander Paiusco remains CEO."

This is interesting, read all the DBAY and Laxey stuff more than once to digest it. They are activist and might take it private. Game on.

https://askwonder.com/research/investment-managers-negative-news-holgxw42s

The whole thing looks like an activist having taken 6% with a chance they will shake things up or make a bid. Laxey Partners might be in this too and we don't know who the money in the Maltese Bank belongs to that DBAY are managing via Romulak. I can't see them being passive. It's all very strange and who the money in the bank belongs too is important as they now own the 6%.

What are they up to that they need to make it so complicated.

https://aum13f.com/firm/dbay-advisors-limited

DBAY AdvisorS appear to be managing money on behalf of the bank in Malta and making the investment for them. DBAY started a company called Romulak on 29th Jan 2019 and Romulak hold the shares bought by DBAY for the Maltese. I've no idea why it would be organised like that.

bakky, only way to keep management on their toes is for them to know they can be replaced. Remove that threat and they get into a cosy rut.

That was quite a spread for a stock that is bombed out compared to its peak. Someone wants a piece of the company.

SJL is astute and his reading of the equity cycle is probably correct and no sale of MMX at a premium, multiples will be under pressure anyway, p/e's etc so a need to run just to standstill. Divi or no divi.

Their adding experienced heads, that can't be cheap, suggests they want to go it alone to me.

So, what chance they look to bulk up if there is another acquisition opportunity? Prey becomes predator again?
They have the experienced people, spinning off cash etc.
Perfect excuse to delay divi further too if they see growth in acquisition.

They would have had an eye on it already and waiting for the appropriate volume to be available in the buy window having already done the homework.

Its just drifting but at least not much in the way of share sales or people giving up. A low volume slow motion pull-back to whatever is the new support level.

Would have expected more sales and higher volume after the recent news.

It will save them some money in any case and 2021 is planned in a very upper tech location.

https://www.proactis.com/fr/resources/rethink-events/rethink-paris/

https://www.proactis.com/uk/company/news/2020/april/proactis-france-digitalise-evenement-rethink-paris/

UK /US MD hasn't bought many but he doesn't look price sensitive so probably expects a decent return for his 28p this time and 34p last time.

The 27 page interim results presentation is pitched to attract new investors and even has the current share register on the last but one page.