Member Info for zoolook

Good price for the Lawyer. This is playing out beautifully. Downside limited at the current price and still decent potential upside for holders and those late to the party. I’m not selling.

Interims due 17th Sept. Hopefully also get an update then about return of capital.

I’m not a subscriber so can’t read the article but the business might need a credit line to cover exposure re cashflow, liabilities, capex, expansion costs etc

Patshare

If it’s any consolation or gives you hope at the start of my investment journey I got hammered mainly going into banks at the start of the credit crunch on the basis of their high yields and P/TNAV’s which were obviously subject to cuts and write downs as it spiralled into a real crisis. However, kept at it, found what works for me and generally done ok since.

Why so confused Patshare? Plenty of companies trading on similar PTNAV discounts all with their own reasons.

Here DBAY holds all the cards and they hold them close to their chest. Dies even the Board know what they are up to even half the time? True value will be partially realised with share offers and maybe a wind up. I don’t think DBay will totally stitch up minority shareholders as it will cause them too much reputational damage which counts given the games they play and they are good at what they do do TNAV will most likely increase. I’m still holding a sizeable chunk FWIW.

Deal now signed and just as importantly RNS pretty much conforms proceeds will be returned to shareholders in cash (as opposed to reinvesting, buybacks or whatever). Still trading at an attractive price IMO. Topped back up again.

Just realised not registered for messages here. Can be messaged on ADVFN - same username

AGM next Thursday in London. I’m going to the AGM. Anyone else? If not any questions you want asking? Feel free to message me

Seems like the latest step up in SP was down to Christopher Mills (Harwood) talking up his own book at Mello. In the absence of further news this might mean a retrace so took some profits (40% gain). Medium / long term still looks good for 40p+ though

Wow. Just goes to show that not all reality show contestants are airheads.

To bring things up to date the latest development is that listed media company Brave Bison BBSN is in exclusive talks to buy the MiniMBA business from Centaur for £19m*.

Could be an indication that Harwood (which bought in at a much higher price) is pulling the strings for a complete breakup.

This time last year there was a half baked attempt by Waterford to buy CAU which pushed the SP to 50p and a current sum of parts likely to be in the same region.

Nice to get the 1.2p dividend last week. Even at the current price there’s a prospective ~6% yield for new investors while things play out.

*https://www.investegate.co.uk/announcement/rns/brave-bison-group--bbsn/response-to-press-speculation/8869037

Looks like HL have reverted my allocation to 35%. Thought 65% was too good to be true. Black mark against HL’s corporate action’s department.

HL have switched my allocation to 65%! which could be a quirk of other HL clients not participating particularly large holders. Something of a lottery. I’m keeping my fingers crossed. No communication from IWeb

Hargreaves Lansdown. Also hold in iwebsharedealing but the result isn’t up with them yet.

That’s a welcome surprise. Tendered all mine and got 35% accepted.

Quite Leedsman - I made the same point to Bergcarls below when he suggested there was no reason why the SP wouldn’t fall to 10.5p again post tender.

Simon Thompson (Investors Chronicle) has calculated that post tender the NAV will be boosted to 26.3p per share.

Given the way the company now operates NAV ought to be the key metric that drives the SP even if the market applies a large discount due to the way the company is owned and managed. Even for LDG 10.5p would be a new level of discount to a NAV of 26.2p and everything else being equal I would be backing the truck up if sentiment drove the SP back to that level. Will be interesting to see what it does settle at but I’d be thinking of using my proceeds from the tender to buy back at 13/14p

I do hope you are right as I’d be happy to rinse and repeat by picking up more at that price with the proceeds from my tendered shares.

Bergcarls

Re: “after which I see no reason at all that the sp would return to that 10.5p level”

Did you mean to write ‘wouldn’t’ rather than ‘would’ as I can’t make sense of your second paragraph

Assuming it was ‘wouldn’t’ then I can see a good reason why the SP ‘wouldn’t’ return to as low as 10.5p in that post tender the NAV would be boosted as it is priced at a discount to the NAV per share, not that ‘good reasons’ govern share prices, especially this one ;-)

Surprising to see these slip back a bit after the jump following the good trading update.

An attractive combination of a profitable company with a valuation well below the sum of its parts with value likely to be outed with the company undertaking a strategic review with an activist investor on the share register.

I’ve added.

One thing to add is that in terms of the brothers split of responsibility it seemed to me that Jonathan took the lead with the acquisitions and Nick took the lead with the Operations / turnarounds.

Kingfisher - there is a more active Volvere board on advfn. I have the same user name there and free to message me there if you want to discuss anything offline.