Share Name Share Symbol Market Type Share ISIN Share Description
Air Music&Media LSE:AMU London Ordinary Share GB00B0W48T45
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 52.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
80.9 -6.7 -47.5 - 9.01

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Air Music&Media (AMU) Discussions and Chat

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Date Time Title Posts
26/8/200920:07Gravy's platter !744.00
03/4/200909:37AMU is worth 200p3,138.00
06/8/200813:45How do I ramp a stock11.00
08/5/200815:32Air Music & Media...market cap 11 million v profits of 5.6 mil262.00
17/4/200813:27Amu bid talks....5.00

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DateSubject
03/10/2008
16:18
davebowler: I attended the AGM today and raised a couple of points mentioned here; I broached the subject of the impressive salary paid to the CEO- which the Chairman defended on the grounds of motivation over a period when times at AMU were tough I suggested that shareholders would benefit more- the CEO included- by favouring share options to an equal value rather than salary which I argued was wasteful in tax and N.I terms with CGT now at a much more attractive 18% . I brought up the poor main co. website -Lisa Clarke said that was being worked on currently Another shareholder ( I was one of three in the audience!) said in his view the goodwill write off had a depressing effect on the share price. The Chairman refuted that saying in his experience at JD that was never a factor. The overerall impression from the meeting was that the Board shared our frustration at the low share price particularly as they felt business was good. Following the meeting I and one other shareholder were given a brief tour of the vast warehouse where a small army of staff were putting together pallet loads for Somerfield Morrisons Wilkinsons etc. Encouragingly our guide the main production man said they found no problem in obtaining more orders but were constrained slightly by the premises and systems.They are moving shortly onto using RFID to help with this.
16/9/2008
21:57
davidosh: 8Trader....If you attend then you will have the chance to assess management, see the company sites and HQ and also get a better feel for the company and the business itsel. More importantly though it is the opportunity to show support and question strategy or simply try to find out why the market has valued AMU so lowly for the last two years. I would suggest a number of investors have stayed clear because the business did not appear to have growth potential or do not like the very large director remuneration compared to the market cap and other ratios. It may also be the lack of dividend for shareholders so that they can share in this return from profits. I intend to find out more and ensure that shareholders see a return from here. That will also encourage future potential buyers and holders and so increase the share price and capital returns from this low base. I think all shareholders should try to show their support by attending as II do not want another year of low share price, no dividends and 60% increase in director remuneration. It is not always the markets...there can be an underlying reason.
09/7/2008
13:15
edmundshaw: Well, an interim dividend of around 1.5p to 2p should be achievable from cash quite easily, assuming the restructuring can be voted on in good time; the next final dividend would not need to be announced till next year, with payment in, perhaps, September. So plenty of time to look at 2008 Xmas trading and subsequent share price, decide on the level of dividend. From that point of view, the reply by Alex Sorrell does not conflict with the chairman's statement... Personally, I'd like to see a special dividend to current holders, but that may conflict with cash requirements unless the insurance situation improves. But, given continued good trading, a 5p or 6p full year dividend would be easily affordable and might be a good level to start with (and with some kind of share price rerating, that would represent a sensible yield that would reward shareholders and support the sp).
16/6/2008
11:44
davidsheila1: it sure does'nt take much to move this stock down again, what ever became of the follow up to this announcement, and the promise to deliver shareholder value: Air Music and Media Group plc 28 February 2008 Share price movement The board of Air Music and Media Group Plc ("Air Music and Media Group" or the "Company") notes today's rise in the share price of the Company. The board of Air Music and Media Group confirms that it has received an indicative approach, which may or may not lead to an offer for the Company, and will continue to evaluate all possible options for delivering value to shareholders. A further announcement will be made in due course, as appropriate. Contacts and enquiries: Seymour Pierce Limited 020 7107 8000 Douglas Harmer Mark Percy
25/5/2008
10:55
8trader: There some good posters on there but there's always a few pump and dumpers that have to add ridiculous prices....very common tactic of the pump and dumpers now is to post price targets of many multiples of the share price knowing that they will dump for a fraction of that price.
24/4/2008
16:11
fmcalorum: They are ignoring the buys but not the sells, seems to fall on even the smallest sell. It has now beed 8 weeks since the statement - when is due course? Is the long time frame good or bad for an offer being accepted, you would think if an offer was not acceptable this would take a few weeks not two months!! Statement re Possible Offer RNS Number:9492O Air Music and Media Group plc 28 February 2008 Share price movement The board of Air Music and Media Group Plc ("Air Music and Media Group" or the "Company") notes today's rise in the share price of the Company. The board of Air Music and Media Group confirms that it has received an indicative approach, which may or may not lead to an offer for the Company, and will continue to evaluate all possible options for delivering value to shareholders. A further announcement will be made in due course, as appropriate.
28/2/2008
21:58
8trader: For me this is the worst price reaction to bid talks in 15 years of trading shares, a company worth 9 million set to announce 5.6 mil operating profits or 23 eps that announce that somebody is interested in buying the company and the share price closes at a pitiful 72p bid or 3 times last years earnings. This company continues to have a massive under-rating of their share price.
30/10/2006
10:14
spangle93: Foolish Friends It has been quite a week for AMU, the share price is up 25% in the last seven days. Not clear why this is the case, perhaps a share tip, or perhaps investors now see the share as very under-valued. Background information: Share price – 124p Shares in issue – 17.17m Market capitalisation - £21.3m Year end 31 March Next announcement – interim results mid-December Pre-September 2004 press release: AMU "was founded in 1995 by Mark Frey and Michael Infante, when Air Music & Media commenced trading with North American and European customers. The Company set up two record labels through its subsidiary, Going For a Song, between 1997 and 2000 and has access to approximately 80,000 music tracks. It floated on OFEX in September 2001 before moving onto AIM in July 2002. The Company's core activities are the development and acquisition of music copyrights, the licensing in of third party music copyrights, the exploitation of those rights through the production and sale of budget priced audio CDs and the manufacture and distribution of DVDs. At present, the Company's sales are entirely business to business, predominantly to audio-visual wholesalers and distributors. In addition, copyrights owned by the Company are licensed to third party producers of music products. The content of the Company's music products is diverse and covers a broad spectrum of music genres which are collectively referred to as 'middle of the road' or 'easy listening'. The majority of the Company's music products are by well known artists or compilations such as '50s', '60s', '70s' and '80s' music and rock 'n' roll, country, jazz, blues, ambient, new age and world music. The Company also has access currently to over 1000 movie titles and a growing catalogue of music DVD titles. The Company deals with over 30 licensors of DVD products, each of them offering exclusive licenses on all genres of movies, special interest, music and TV programming." Quote unquote. What I think the above means is that AMU: - Acquires the copyright to established material by artists with a ready market. For example Status Quo's back catalogue. - Creates innovative new product. For example Status Quo's Greatest Hits on CD. - Develops marketing campaigns to meet the needs of specific customers. For example, advertising displays at the checkout for punters who purchase music CDs at supermarkets and petrol stations. In the year to 31st March 2004, Air Music & Media reported a profit before tax, interest and goodwill amortisation of £1.90 million (2003: £1.13 million) on a turnover of £15.76 million (2003: £8.03 million). The key event in AMU's recent life was the acquisition of Redworth Limited, whose principal subsidiary is Music Box Leisure, in September 2004. "The Redworth business was established in 1996. It distributes audio, visual and multi-media products to retailers via a 'one-stop-shop' approach to the supply of CDs, cassettes, videos, DVDs and computer software. Redworth reached its current size through organic growth. Redworth offers a product mix and range of titles to retailers for whom audio, visual and multi-media products are not their main sales offering. The enlarged group aims to maximise product turn by creating a varied title range for each chosen retailer. It sources products from all major audio and visual companies. Typically, Redworth creates a multi-buy range with a diverse selection of products without following exclusively either the chart or budget route." Quote unquote. What I think the above means is that Redworth: - Buys cheap CDs, for example Status Quo's Greatest Hits, at knock down prices. - Stocks them at a 100,000 square feet distribution centre at Leyland. - Sells them to supermarkets and petrol stations when the time is right. In the year to 31st March 2004, Redworth made a profit after tax of £2,377,487 on a turnover of £37,081,182 and at 31st March 2004 had net assets of £5,181,261. The acquisition of £38,600,000 was satisfied by: - A cash payment of £15,984,703. - The issue of £1,615,297 of loan notes. - The issue of 3,333,333 shares at 300p per share, total £10,000,000. - The issue of 4,342,540 shares at 231p per share, total £10,000,000 Note the following: - A 1 for 30 share consolidation took place in January 2006. The number of shares and the share prices quoted above has been shown on a post-consolidation basis. - Current market capitalisation is £21.3m As at 31 March 2005, AMU had the following (nine) directors: - John French, non-exec Chairman - Mark Frey, CEO, co-founder of AMU - Trevor Allan, MD, ex-Redworth - Michael Infante, Commercial & Marketing Director, co-founder of AMU - Ruth Salsbury, Finance Director - Alex Sorrell, exec director, ex-Redworth - Jan Beer, exec director, ex-Redworth - Roger Putnam, non-exec appointed 2003 - Nick Fisher, non-exec, appointed 2004 Key shareholders as at 31 March 2005: - Mark Frey (25.4%) - Trevor Allan (16.0%) - Michael Infante (8.6%) Head office is in leafy Berkhamstead, Hertfordshire. In 2005/6, the following takes place: - Board reduced to three, the two exec positions are held by ex-Redworth directors. - Head office, distribution and admin functions relocated to leafy Leyland. - Exit from loss-making subsidiary, DVD Hollywood (acquired in 2002, it specialised in kids titles, film genres and Karaoke). Key shareholder as at 31 March 2006 is Trevor Allan (and family) with 39% holding. The website is a curate's egg: the front page is out of date plus there are spelling errors, see: http://www.airmusicandmedia.co.uk/servlet/HsPublic?context=ir.static.jsp&client=amu&path=util&service=getPage&page=about&nav=about And in the directors section of the website, no mention of the Chairman: http://www.airmusicandmedia.co.uk/servlet/HsPublic?context=ir.static.jsp&client=amu&path=util&service=getPage&page=directors&nav=about The financial section of the website is good, includes not only financial reports, but also: - Key shareholders (although why the Allan family is shown as holding no shares and yet a percentage of the equity is beyond me). - A financial calendar. - Detailed trades. - Broker forecasts. Returning to the directors, current line-up: - Trevor Allan, CEO, ex-Redworth, key shareholder. - Alex Sorrell, FD, ex-Redworth - Peter Cowgill, non-exec Chairman. Mr. Cowgill was appointed in June 2006, executive chairman of John David Group plc he created a few nervous moments for shareholders when he delayed the announcement of AMU's 2005/6 results, originally announced for 11 July 2006, they were finally released on 10 August 2006. Per his first Chairman's statement, 10 August 2006, he stated: "I am excited about working with Air Group and see the opportunity for a significant market re-rating as investors become aware of the prospects for the Group." To emphasis the point, "I see the opportunity for a significant market re-rating" is repeated on the facing page of the accounts in font size 24. So it is curious that the man: - Who delayed the accounts by four weeks so that he could have a 'good look' at the business. - Who thinks the share price would be re-rated, presumably upwards. Holds zero shares in AMU. Turning to the financial figures, and bearing in mind the Chairman's comment: "results for the year [2005/6] incorporate a full year's trading at the distribution business acquired in 2004 and significant exceptional items that, together, render simple year on year comparisons meaningless." We have to rely on unaudited pro-forma figures. (The auditors, incidentally, are Kingston Smith, a Championship-quality set of auditors.) Pro-forma profit before tax (before goodwill and exceptional items): 2004/5 - £5.0m 2005/6 - £4.8m (Pro-forma as in Redworth owned by AMU for the last two financial years, no goodwill or exceptional items.) Assuming a tax rate of 25%, and 17.17m ordinary shares in issue, the adjusted (goodwill and exceptional items ignored) 2005/6 EPS figure is 21p. Seymour Pierce, the company's broker, is forecasting profits before tax (before goodwill and exceptional items) of £5.4m in 2006/7 and a forecast EPS of 27.6p. Turning to debt, the net debt position as at 31 March 2006 was £6.4m. Per the Chairman, "Air Group remained comfortably within its banking facilities during the peak working capital period and continued to meet scheduled borrowing repayments. Net working capital was reduced by £0.5m in the year and net debt was reduced by £1.3m. The Group continues to focus on utilising free cash to accelerate borrowing repayments." Finger in the air, it seems reasonable to assume that the company can generate after interest, tax and normal capex, in the region of £2.0m free cash every year. As long that happens, the bank manager concerned should be relatively happy. Risks: - Customer base is heavily weighted towards the UK supermarket sector. The Group's customers are retailers for whom profit margins, as a whole, are continually under pressure and this pressure is in turn placed on the Group. - The internet presents risks and opportunities for the Group. - The Group continues to target the older and less fashion conscious consumer by creating unique in store promotions encouraging purchases. (Just how many Status Quo greatest hits does the person in the supermarket check-out queue require?) - Sales geared towards Christmas. Latest announcement was the AGM statement on 18 October 2006: "The Board considers that trading for the year to date [from 1 April 2006] has been satisfactory and in line with current expectations. The Board recognises the significance of the Christmas trading period to the full year results and expects to provide a further trading update at the end of January 2007." Summary One can understand why investors get excited by AMU, strip out the ugly duckling (the old Air Group) and one has a 'swan', adjusted EPS of 27p forecast for the current financial year and yet the share price is only 124p. Bargain time. And yet: - If the Chairman thinks the company is such a wonderful prospect, why does he hold zero shares? He should put his money where his mouth is. - The merger of the old Air Group and Redworth has been a difficult process, the old guard has been booted out and the new guard are now in control. - The business is about persuading supermarkets and their older less fashion conscious customers that there is a pent up demand for Status Quo CDs. Note the Music Box Leisure only increased turnover marginally in 2005/6, so the older less fashion conscious customers have not responded to the call to throw out their vinyls and embrace the CD format as yet. - AMU needs to hope that its (older and less fashion conscious) customers are not savvy enough to buy online. - The buying office needs to continue to buy the right products (Hot Chocolate, Dr Hook, Mud & Sweet) at great prices. - The ex-directors are likely to offload shares earlier rather than later. Michael Infante, a co-founder, sold a shedload of shares in late 2005. I, of course, hold AMU; one can never have enough Status Quo CDs. All we need now is the Chairman to buy a load of shares and for AMU to release Status Quo's Christmas album. Regards. Colin
07/6/2006
15:02
jtcod: You should be on the stage Phil.;-) Answer: No. I think we will likely get a 'steady as she goes message'. 'Tough market but making progress' sort of thing. With only 5 weeks till prelims, I would not be surprised if we rise as the date gets closer. I'm still very confident that we will see a re-rating of the AMU share price. (The only real risk I see now is the DOW). As ever all IMHO. JT
09/12/2005
17:46
yaw: Evening All Thanks Jessica for your post (2566). Still have confidence in the AMU Board and expect the results to be more-or-less in line with forecasts. Expecting to hear some news about the outcomes of the Strategic Review and costs savings that have been identified as a result. It is not the AMU Board or the financial position of the company that has ever concerned me. It is the share price. I hope the AMU Board and Bishopsgate take some specific measures to sort out this farce (the constant wide price spread). Until the AMU Board take some steps the share price is not going anywhere. Yesterday we saw Croma up by 25% plus after the slump in the share price a few weeks ago. The company was able to turn around the slump quite quickly because of a RNS regarding the Share Price movement a few weeks ago. I'm of the opinion that if AMU had released a similar RNS after the July 05 results and downgrade by Seymour Pierce in September 2005 the share price would not have slumped to the lows where it is now. In other words I think the present situation should and could have been avoided. Interesting article in yesterday's 'Stock Market Reporter' hope it bodes well for next week. 'Croma posted an upbeat trading statement as it gave an update on its acquisitions. The company also benefited from a ''buy'' recommendation from specialist smaller-cap website WatsHot.com and its shares jumped 0.875p to 4.25p'. I know the share price has come down a bit today and the only connection it has with AMU is the same Chair (JF and PR Company -Bishopsgate)but fingers crossed we see some upwards movement next week, some 'buy' recommendations from the 'tip-sheets' some good interim figures and other positive news going foward into the new year. Have a good Weekend and I really hope we have something to smile about next week. My gut feeling is that we will? All the Best
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