Gloo Networks Share Discussion Threads

[hpcg] 17/5/2019 11:41

And Barclays have finally paid up. I hereby declare this message board closed.

[hpcg] 08/5/2019 10:49

Better than anticipated final pay out of 3.145p per share. All tidied up now in my IG account but Barclays are as tardy as ever; I should really close the account except it is useful for these wind ups.

[hpcg] 30/8/2018 14:33

I have been paid for the remainder in one account, should turn up in another soon. Lovely zero risk return - 33% in a few months. 47p per share was cash return rate for this tranche. There is usually a remnant - I'd hazard a guess they'll close in Feb 2019? I can't be bothered to contact the liquidator as the rest is small beer. Nice to see that the minimum predicted has now been returned, and that was just about the price they closed in the market. I still can't believe people let these go for less than 35p for the same of a few months.

[robsy2] 03/5/2018 13:41

Absolutely unbelievable.the enormously bit especially.It is just , i’m lost for words. These people are staggeringly arrogant and incompetent in equal measure.
R2

[regina falange] 03/5/2018 13:33

James Corsellis, a Managing Partner at Marwyn Investment Management and a Director of Gloo, said: "As Gloo's largest shareholder and investment partner, we are enormously grateful for the financial discipline and dedication of Rebecca and the entire Gloo team over the last three years assessing such a wide range of potential investment opportunities. We wish them all the best for the future."

Not just grateful. No. ENORMOUSLY grateful.

James Corsellis



Does anyone know what planet James Corsellis is currently orbiting?

[davidosh] 03/5/2018 11:36

This looks shocking to me......If any of you shareholders want to lead a campaign to get answers on behalf of all the individual shareholders then ShareSoc will help I am sure.

[phowdo] 03/5/2018 09:03

At least shareholders get out with something.
Without Bernstein's activism the directors would have continued funding their lifestyles at shareholders expense.

[horndean eagle] 03/5/2018 08:19

Annoying having put in a large amount at IPO and having to take a 6 figure loss. Tried to buy when they had the clear up but Bernstein took all the stock. I can't believe the lack of contriteness in today's announcement. All they wanted to do was pat themselves on the back for all the hard work they had done. you would have thought within there they would have acknowledged pain original backers have had to go through. Can't see many people lining up for any more of MVI spin off acquisition vehicles. Absolute disgrace.

[kooba] 03/5/2018 07:58

Well that was a quick result for Bernstein...board must have not wished for the full extent of greed and conflicting interests of the directors to get a fuller airing...go activism!

[johnyee 7] 03/5/2018 07:37

Looks like he got his wish

[kooba] 15/4/2018 16:43

https://www.ft.com/content/74a80f86-3f29-11e8-b7e0-52972418fec4An activist investor is targeting spending and salaries at Gloo Networks, an acquisition vehicle chaired by the chief executive of Vivendi that has failed to land a deal for three years.Richard Bernstein, a manager of the Crystal Amber fund, has bought an 8 per cent stake in Gloo in a personal capacity and has called on the media fund to stop spending what cash it has left and to consider returning the money to shareholders if it cannot complete a takeover.

[phowdo] 28/3/2018 16:15

Indeed. Lifestyle company for directors who have no skin in the game.

It might be trading below cash but that cash is inevitably going to find its way into the directors pockets rather than shareholders.

[hugepants] 28/3/2018 15:07

Truly awful. This outfit require £3.6M a year just to keep the lights on. And the risk is they blow what they have left on due diligience costs on another deal that they subsequently don't close.

[jimbob17] 28/3/2018 09:18

It appears not to be a funny one. They have spent multi millions on a deal that isn't happening. Surely they had some kind of clawback protection in place in case the deal fell through ?

[igbertsponk] 28/3/2018 08:41

Problem is that the CEO has no shares. So nothing to lose whilst the three exeec three Directors take home £1.8m a year in salaries and bonuses (bonuses for what???). Beats working for a living!

[robsy2] 28/3/2018 08:28

Not good. I suppose it's a sign of the difficulty Gloo has infinding a decent investment. They are draining the company of cash in the meantime.
The MVI business model is struggling at the mmoment.Too much money chasing too few opportunities? I don't mind if they take their time or even close down Gloo, rather that than buy at the top of the market but it's the ongoing cash burn that annoys me.
Huge costs and no progress. Not good at all.
R2

[horndean eagle] 14/11/2017 18:13

That's more than I have ever got back from them. Wouldn't mind if they didnt reply because they were busy but looks like they have been doing sweet FA for the last couple of years.

[robsy2] 14/11/2017 16:53

I've been in touch with Gloo.see below.
Not very revealing......

Paul, many thanks for your email.

When we have an update to give to the market, we will do so through the normal channels. The next scheduled calendar event is the interim results around November 30.

Best wishes


On Tue, Nov 7, 2017 at 5:39 PM Robsy 2 wrote:
Is there anyone in?
Do you have any news for the shareholders? Any signs of progress?
Best
R

[ddubzy] 04/10/2017 14:37

I bet Marwyn are chuffed to bits with their investment here. They dumped ETO for these, in fact they were one of the reasons why I bought here. I lost a lot but no way near the loses Marwyn sit on currently.

[horndean eagle] 03/10/2017 19:03

Scumbags should have had an update out. Ive tried to contact them before. They don't want to talk to shareholders. I had thought they were busy doing deals but more likely just swanning around doing not a lot. Recent departures suggest any potential deals they had in the pipeline are dead with nothing on the horizon. I hope they dont get around to replacing these 2 or even worse having had to pay them off.

[ddubzy] 03/10/2017 15:02

Yay, finally after a whole year of selling I was able to get rid of my last 2k...As is the norm, this will probably rocket to £2 now!