Apace Media Share Discussion Threads

[encarter] 20/6/2008 07:40

Just looking at these and it seems £3m has vanished can anyone explain?

October 2007
"Prior to the Company's decision to invest significantly in TVA (approximately #2 million mainly in loans), the NCRT had taken the decision to reduce the period of TVA's existing broadcasting license by one year, due to non-compliance with its license requirements. On 1 October, 2007 this decision was overturned in favour of TVA by the Tirana District Court, through lack of evidence. If NCRT does not lodge an appeal before a set deadline, the original period of the broadcasting license will remain in force until 3rd January 2009. TVA will also lodge a formal application for renewal of its license. As part of this process and to strengthen the international resources of the broadcaster, Apace Media plc has decided (through its wholly-owned subsidiary Apace Media Albania) to take up the option for 40% of the equity of TVA."

Why take up the 40% when it's obvious they were in trouble. Even with the license restored it only lasted until Jan 2009. Were did the money go?

[diogenes dottle] 15/4/2008 16:31

I will take that silence as a yes.

[diogenes dottle] 04/4/2008 10:52

Re the new shares: this seems to equate to just over £300K. I note remuneration was stated as £150K in 06 and so is that in effect for 2007 and 2008?

[davethechef] 28/1/2008 17:48

Just before close, 2,400,000 Buy !?! Plus 2x 250k's. Something afoot?

[torquayturk] 03/12/2007 08:51

I see your point Humph and this share was a punt based on a mix of seasoned and young/thrusting media management team. However if it looks like a f*uck up and walks like a f*uck up then it pobably is a f*uck up and I think thats what happened with this £2.6m investment in Albania. It puts me in mind of a comment you made months ago about the unknown 'cultural' differences of doing business in this part of the world.
The brokers forecasts for 2007 now show a loss of £1.8m, and £0.3m loss for 2008. With the share price at what appears rock bottom I can see little support coming and could drift further. They can't have much cash left so a rights issue (at 5p?) cannot be ruled out. One final point, I am very sceptical about the cos. statement of 14th Sept that it 'knows of no reason for the share price fall'. If the suspension of the Albanian license wasn't known by then then its very careless or if it was known then the statement is a lie. Either way the credibility of the team is shot.
On ERT, I wonder if the way overdone drop in the share price was The City giving notice to Heap that his time has run out and its time to accept one of the overtures that have been made (Scholastic, HIT, or even Disney?). Wouldn't it be nice to see the shares drift back to 30p and then a take out at say 55p. Here's hoping. TT

[humphbumph] 02/12/2007 23:22

Ah well. Couldn't you hang on to a 100 maybe just so that we could ask you questions?

Foolishly I overcommitted so that I think I have to hang on. (I know that this is not logical but the spread is too big to nip in and out.) I'm in the same situation with ERT, I guess.

However I think this style of investing suits me because each year (I don't want to boast) my net worth goes steadily up. Over the years half a dozen six baggers and upwards after holding on for a long time doesn't half help the bottom line. I am in no way convinced by the daytraders on other threads that their wealth increases at all in the end though I suppose it's quite exciting.

[torquayturk] 02/12/2007 14:15

Sorry Humph, I chickened out at 11p. Looking at brokers forecasts I just didn't fancy waiting around for 3 years plus. It looks like it may take that long to show a profit. I will keep it on my watch list however.
TT

[diogenes dottle] 30/11/2007 12:18

Thanks. I should have done a bit more research before I posted my questions as most appear to be answered in house broker Seymour Pierce's report dated 15 October on APA's site, which comments that the investment to that date had cost about £2 million and the 40% was taken up in effect at minimal cost. They comment that they had viewed that investment as speculative and not attributed value to it. So it would appear that they have in effect written the entire cost off. Does that have a tax advantage?

[humphbumph] 30/11/2007 12:08

Diogenes, I am equally confused. When I've got time I'll try to work it out. In the meantime TT usually has a fantastic grip on this type of activity. If he can't sort it out I guess someone should ask the company?

[diogenes dottle] 30/11/2007 11:45

Am confused as to the Albanian position. As I understood it:

1 APA had 66% of shares in TV ERA;

2 APA joint venture called BM with MTG saw BM take 33% in TV ERA and MTG the other 33%;

3 RNS of 15 October announced the suspension of 10 October, but also that APA, not BM were to take up an option for 40% of the equity in TV ERA.

Today - we get the write off. My questions are:

a) How was the option equity 40%, as I thought there would only be 34% available?

b) Why was the option taken in the circumstance of the suspension - and what has changed since then?

c)How much did it cost to take up the option?

d)Why was it APA and not BM who took up the option?

e)In % terms how much of the TV ERA investment is being written off - or what is the total cost of the TV ERA investment?

f)Is the value of TV ERA linked not only to its suspension, but once (if) this hurdle is overcome, also as a play on there being an independent Kosovo?

I may have misunderstood some of this (as I only have a small holding and have not being paying attention)and if so I apologise.

Any Corrections on my asumptions, answers and explanations much appreciated.

[diogenes dottle] 30/11/2007 11:23

I had wondered if I had missed a recent opportunity to add, but I suspect it shall return. Shame today's second RNS didn't say more about the suspension problem.

[diogenes dottle] 26/11/2007 15:26

Funny that with the shared Apache epic we are now getting Regal RNSs!

[davethechef] 22/11/2007 20:13

That's alittle better, just approx £6,000 worth = 4 buys and we're up 9%.

[davethechef] 19/11/2007 17:45

This is one of my few shares which is blue today, however, i'm still sitting on a loss, bought back in 05! A relatively small holding.
Like you say relishing, one hopes 8p is the bottom.

[relishing] 14/11/2007 10:58

Looks like the FD called the bottom.

[welsheagle] 12/11/2007 18:51

RNS Number:4804H Apace Media PLC 12 November 2007


Apace Media Plc
(the 'Company')


Notification of Transaction of Directors, Persons Discharging Managerial
Responsibility ('PDMR') or Connected Person


The Company was notified on 9 November 2007 that, on that day, Martin Johnston, a director of the Company, acquired 301,667 Ordinary Shares of 5p each in the Company at a price of 8.0 pence per Ordinary Share. Mr Johnston is now the beneficial owner of 802,008 Ordinary Shares, representing 0.9% of the total issued and voting share capital of the Company.

[relishing] 12/11/2007 12:38

Yes, always encouraging when the FD buys!

[humphbumph] 12/11/2007 11:53

Encouraging, at least, that Apace's FD has decided to buy some significant amount of shares.

[quixquote] 07/11/2007 15:13

Heading back to the penny share arena.

[encarter] 27/9/2007 07:59

Consequently it is difficult to be precise about the final outcome for the full
year and at this time we believe it is unlikely we will achieve current market
expectations.

Looks like a placing at 5p.

[welsheagle] 27/9/2007 07:46

Apace Media Interim Results


RNS Number:5893E
Apace Media PLC
27 September 2007


September 27th 2007



Interim Results for the six months ended 30th June 2007



Highlights



*Turnover of #4.6 million (2006: #4.5 million)
*EBITDA of #0.94 million (2006: #0.1 million)
*Pre tax of #0.72 million (2006: loss of #68,000)
*Strong balance sheet: net assets of #15.8 million with #0.73 million cash
*Eastern European Broadcasting highlights include:
*Creation and launch of Balkan Media Group (BMG) Eastern European
broadcasting joint venture
*Introduction of new strategy to move towards free-to-air service for
the main Diema channel
*After lengthy negotiations successful increase in cable fees with
monthly revenue now 56% higher than end of 2006
*New scheduling and increased programme investment driving growth in
viewing figures: share of key 18-49 demographic up from c. 5% at the end
of last year to more than 7.5% since relaunch in September
*Content Creation highlights include:


*34% growth in revenues
*Steadfast continues strong growth of commissions with wide range of
UK and international broadcasters
*Proactive expanding sports coverage activities with new contracts and
further consolidating position as leader in international rugby



Chairman and Chief Executive Didier Stoessel commented:


"We view our prospects as very good over the medium term. In Eastern Europe we
are achieving all the strategic goals of the new joint venture. Here television
costs will continue to increase, an essential investment to drive further the
growth in the advertising revenue and audience share that we have begun to see.
On the Content Creation front the commissions we are currently waiting to be
confirmed will demonstrate the success of our strategy to build a strong
television production business. We look forward to the future with confidence,
assured on improving revenues and, importantly, valuable broadcasting and
content rights."