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Blinkx (BLNX) Takeover Rumours

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Tosca increased by roughly 3m. The 12m was to someone else in my opinion. If Tosca wanted to go for a takeover and had consent from RG, he could have transferred them the lot?Something is happening and I'm staying for the ride.
Sikh. Can't argue with that. Tosca increase by approx 12 mil. RG reduces by approx 12 mil. Are Tosca going for the takeover?
Barkboo, the manipulation is sanctioned by our largest shareholders, Bod and some MM. MM no longer have the firepower to do this alone. Tosca are 12m short of 30% and could now easily get this from the market, if interested in a takeover. I doubt this is their objective? A corner seems more and more plausible.
Barky, you don't think I answered your question? In July 2014 I valued Blinkx at around 34p ... but thought it would bounce higher on speculation. I would value it lower now, as it was still profitable in 2014 ... it is not any longer. If it were a private business you'd be lucky to get 20p. Personally, I think the best outcome for shareholders would be a takeover at a premium.Currently Blinkx has an unproven business model, it is losing money and cash. It would need to start generating profit and positive cash flow before I'd value it higher. What else is there to go on but the current facts? A positive outcome is not impossible, it might well happen, but I don't see light at the end of the tunnel, yet. If your right it will be the result of good luck, not good judgement. So what is your £2.40 value based on?
Yes Quil, wonderful piece of prose ... a work of fiction.Perhaps you should focus on track record and answer the following:1) how much money have Blinkx raised from investors over the life of the business?2) what is the current market capitalisation?3) what does that tell you about the management's ability to generate a return on investment? Suggests that the longer Blinkx keep going the faster the cash will dissipate on ... yet again ... funding poor investments! The longer it goes the cheaper the bid price from your friends at Tosca.So your best bet is a takeover ... sooner the better ... because time is not the friend of a poor business! Just a thought!
STT - BM's options are irrelevant in this context I think. First and foremost, in order to agree to a takeover, BM would have to be convinced that any offer for the company was good value for all shareholders compared to the realistic alternatives. Then if a "Company X" wanted him post-acquisition they would offer him a good package going forward which would more than compensate him for any perceived loss on existing options, and if they didn't want him but felt they needed him personally on board with the offer to facilitate the board recommendation then I am sure they could negotiate some appropriate terms (maybe a "retention payment" for the transition plus a generous payoff to ensure continued goodwill when he went) independent of the actual price per share in the offer.
Yes Barky, there does appear to be some manipulation going on with this stock, but I'm not convinced the numbers are being massaged to enable it ... I think that, barring a takeover, next Summer we'll know if the strategy is working ... but I'm not expecting much from the next few quarters. I'd expect loss and a bit of cash burn. But as Blinkx have a lot of cash, they have the time to show their strategy is working, or not, whatever the outcome may be.
However, if a takeover is in the offing, my money is still on Amazon followed by Yahoo! Both large players are languishing behind Facebook, AOL and Google. And yet, with RhythmOne, could become HUGE.
Hey stocky Time you reminded us for the 1000th time of the big Blinkx takeover!! Who is it this time? And for just 25p - must be a great bargain smelly or hairy?
That's another cool 2m or so to Tosca or someone else? Takeover on Monday? £5 a share? Now, time for early friday beers.Good weekend, ladies and gents.
If Tosca are collecting for their own purposes or that of an interested party, the signals seem to point to a takeover... Thoughts? To get to 30% should be quite easy now?
Sikh BLNX still need to inform the UK authorities if they do not wish to be under the UK takeover panel code.It is still a UK registered AIM company according to the latest accounts.Try reading the small print.
Sikh, then how can Tosca takeover blinkx if they don't own the shares?
interesting... Just read this and am looking for more up to date rules... If this article and my understanding is correct, then Tosca are not obliged to make an offer if they reach 30% as BLNX doesn't come under the Takeover Panel Code... They are centrally managed and controlled from US.. They also announced they were closing the UK office... did they close the UK to get around this? "This means that the application of the UK Takeover Code can be particularly problematic in relation to the significant number of AIM companies that, although incorporated in the UK, Channel Islands or Isle of Man, are centrally managed and controlled elsewhere." http://www.nortonrosefulbright.com/knowledge/publications/21661/takeover-bids-for-aim-companies-what-you-need-to-know
Loopy, I don't think any of us know what is going on any more. We all are witnessing the continued accumulation without any movement in the SP. Between RG and Tosca it is circa 35% of the company. We can only assume that others have accumulated. I doubt a pure takeover from Tosca. They could now accomplish this. I think the bod are in negotiations. Either with Amazon or Yahoo! My opinion. Neither has the same adtech capabilities as either Google or Facebook. Cross Screen is going to be HUGE..... As an aside, it seems Donald Trump is going to win the Republican nomination.
The only trump card is held by the bod. Why let Tosca accumulate at these prices? If we do see a takeover, I doubt it will be tosca alone. It would be along with the various Bod affiliate VCs and Private Equity companies. However, we may also see the lid let off the SP, as targets have been reached. Let's wait and see. Been fucked for 2 years, what's another year between friends.
Does seem likely that we will receive a takeover bid... Price unknown.
Takeover at 51p?
Just a thought, Ge2.... If a takeover is in the offing, my money is on Amazon or a close second Yahoo! Seems to me that the links are getting deeper.And if Tosca is working for one of these outfits, then maybe we see a decent bid once Amazon/Yahoo! have a large enough stake at penny prices.GLA. May laud be wid us.
Doesn't necessarily mean a takeover will take place ;). But people will get wind.
I reckon people are getting wind a takeover is a real possibility.
Kendo ... what happened to the profit in January? I suspect it will be back at 40p before too long ... and then up and down like a whore's drawers until the numbers firm up or a takeover appears. IMHO.
check out JLP and WRES next week. platinum is making huge recovery since last week and JLP got the RNS intraday on Friday and not many would have seen it. both platinum player AQP and LMI have surged strongly last week. JLP, as a low cost platinum producer, not yet recover and will hopefully start to make recovery next week. Furthermore, AQP platinum got a takeover offer which now make many to believe JLP will soon get its takeover target/JV partner, potentially after mining licence is granted, which is expected in this month. those interested can dyor on JLP and see the huge potential in there, with JLP sitting on $4bn worth of assets and mcap only 30m? no wonder JLP was 30p a couple of years ago and now making the comeback. another potential for multibag will be WRES, CEO target 3p with sp now only 0.6p expecting rerating RNS in JLP and WRES anytime next week/this month dyor
sirmark, It will be interesting to see what Tosca do after the next TU... will they continue to increase and launch a takeover or once they have a huge profit, start to reduce... RG hasn't increased since March. He's actions post any TU will also be interesting...
What's next then chaps...Tosca takeover?Tosca make their way to 29.9% and remain there?
Can anyone here please breakdown how much Tosca actually hold in blinkx is it 24%-ish or is it around 15% and all the rest they have been buying is for other people and putting them under the Tosca fund umbrella? Also how much is held by private investors and is it still only a 10% blocking vote to stop any takeover of the company regardless of how many shares Tosca hold therefore stopping us from being bought out to cheaply
Or T is for takeover trade!
Tosca is now the main player, but with the consent of Blinkx. Given that we do not have a financially light weight board - most are members of VCs or millionaires in the own right - it seems logical that they are happy for Tosca to do the soaking up. I think most PIs have continued to hold based on the faith placed on the previous Autonomy members. It is baffling now to understand what the game plan is. A Takeover is now easily achievable if the board, Tosca and RG are onside.
If you own 51% combined as a conglomerate you remain the major shareholder.Even if someone else acquires 30% and makes intention known that it wishes to takeover the company they need blessing of major shareholders.Tosca are smart enough to know BLNX is so very undervalued whilst it has everything in place to deliver the good and this could fly to a £1 by December if results are good.Either way Tosca make 250/300% profit and still own a company that will only increase in value once its potential is fully released.If we start trading at the £1 level again very soon I'm sure that someone will definitely want BLNX in their consolidation plans.Martin Sorrell is once again on the lookout for a new outfit and has fallen out with GOOGLE!Speed is of the essence now.....BLNX need to deliver the complete package with all guns a blazing!!My thoughts only of course.
It could shoot up NOW, if the big boys so wished. Why would Tosca need over 30%? I thought any hostile takeover requires over 70%? With the blinkx big boys holding more than 40%, I think it is safe to say that they will either be greedy and take it private and screw already long suffering PIs or fight for a fair valuation.
Football, it does now depend on what Tosca and Blinkx (BM) have decided. Much of the company's shares are in safe hands. If we are to see a takeover, that could be announced imminently. I doubt that Tosca would need to have 30%, as any takeover would have to be agreed by the Board. I assume defenses are in place in case of a hostile bid. I now also assume that the board and Tosca are in agreement, seeing as the former has been allowed to build such a large stake. However we now look at this, the board is in agreement. Just my thoughts. The SP is still being managed.I have no problems with Sikh going long. It is better for more UK PIs to make money. If he is really a PI. Good for him. I think he has had a rough year as well. ;)
Not only that, STT, but I think San Leon previously merged with Aurelian Oil and Gas, in which Toscafund had built a 28% stake. So it seems to me quite likely that this is actually an example of Toscafund as an activist investor - taking a big stake in Aurelian and a small stake in San Leon, encouraging a merger with San Leon as the senior partner, then turning its attention to San Leon, which as you say has just received an approach about a possible takeover.
I don't agree with sobeit on all those points. Just because you takeover a company does mean you have to directly manage it. Retain the current team and let them manage it. Also awarding the CEO 7 million options at knock down prices may grease the wheels a little.
Tosca seem to like tech companies. Look at daisy group and Phoenix IT. They teamed up with management at Daisy I believe to takeover the firm. Is it in Brian's favour to limit the news?
Blackrock were selling after the bearish newsflow... Tosca are known to be aggressive long/short managers.... if we get good newsflow then the sp will take care of itself... If/when the sp rises Tosca continue to accumulate, announce a takeover, take it private and re-list if/when 1R turns around, or sell their holding... no one knows... But they have been known to sell down after they showed a decent profit.... They are in it to ensure their fund is successful for THEIR customers not Blnx PIs...
Tosca average approx 27p...using lowest sp on day of rns would be 26p.. current sp = 24.25p... highest sp over previous 12 months = 45p Tosca are now approx breakeven... If they takeover at 50p they would make a decent profit and keep RG happy... and BM would get his options... Be interesting to see what Tosca do once their holding shows a decent profit.. will they continue to accumulate or sell at a profit...
Friendly or Hostile takeover?Will a second party or parties enter the running... Invoke,Balderton?Perhaps a third?Shocking state of play just as they are turning the large corner and it stinks a bit if your a shareholder.However I'm happy to take what's on offer if it's a good one!
Fairenough11,Even if we suppose corporate action may be afoot, do you think it could be a friendly takeover?Couple of points of discussion could be around the current buy in prices of RG and Tosca, even at 60p they would double their money. However it hardly seems worth the effort and time for just a quick 100%?Also if it is a not a friendly takeover, what guarantees do they have that BM, SC and ML would stay and help future owners?If it's an aggressive takeover do you see Invoke capital or Balderton Capital getting involved if the offer is too low ball.Or do you think BLNX has already given a nod and a wink to Tosca and RG to take them out and off AIM so they can list on Nasdaq at a later date?It would be good to hear your views on the above.
Takeover coming.
Tosca another 2m+ shares now 22%. Takeover/ offer coming
Hostile Takeover - at what price?
takeover coming?
Is it worth adding tomorrow? I'm stuck between the idea of a takeover and the corner.
Is it 70% needed for a hostile takeover? I think most PIs will accept.
I think we will see a takeover come from Amazon. A strategic fit and they gain an instant stack to compete with Facebook and Google. Amazon would also have the advantage of already having big data on customers' shopping preferences. Any opinions?
1gw - I suspect RG and Tosca are communicating (just a guess of course, not a fact). With their collective holdings no one else could takeover Blinkx. The company forecasts for the next year are not inspiring, so they would need to surprise on the upside. Barky - I'm not sure I really understand your corner theory? Do you mean the same scenario as Volkwagen, when Porsche tied up the float?
Kendo - unlike you, i do not have a scatter-gun approach. You make many outrageous claims, none of which every materialise. All my calls are correct, even the Nasdaq was a goer...BLNX had a problem. It will happen! There will be no takeover at these levels - the company is solid. Investors are in a very strong position. Stock is in safe hands, 20% is influential. Keep a lookout for RSA - this thread was told about the deal a long time ago - Jarvis will confirm i'm sure. Kendo - like a few on here, you picked the wrong team. lol
Yep he chose £2.40!Are we there yet? Wake me up when we get there.50p takeover bid is coming. You will have no choice to accept as your uncle Brian sells you down the river.
Well they need another 10% Sikh or do you think they might team up with RG? That would trigger the 30% needed to launch a bid.BLNX really are in no place to defend against a bid......?It plays into Brian's hands IMO, he gets to keep his job and share options will trigger and they will take it private to relist on Nasdaq later on.Brian certainly has helped with this friendly takeover and assisted at every opportunity to lower the SP to his advantage.Could this be game set and match??
Do you still believe in the corner, Barkboo, or just a takeover?Blinkx is wasting time on the old takeover front. The technology would be better served by a bigger entity. Amazon?
However BLNX stated that there would be a consolidation in this sector a year ago and only the strongest will remain.I think they even brazenly used the term " there is only one EBay for a reason?" too.So here we are a year down the road with the company's share price, image and the directors integrity shot to smithereens!!Looks to me we have become a joke the laughing stock of San Fansisco......If BLNX would need to be bought for about 50p that equates to roughly about $320 million dollars.That is for a company that is :-Declining in revenue.Declining in profits.Declining in cash.One more profit warning and we will only worth only the cash we have not burnt through.So comparable to the market norm BLNX is an excellent takeover at 50p but only if they make a bit of profit.Caution advised IMO.
Alex, with the market this irrational, a corner or takeover seem to be very plausible. We are now nearly at cash. Therefore, the technology and the facts about the potential of the market are worthless.
Gangsters and Blinkx throwing the kitchen sink at them? The RNS was released for total devastation again. I think you would agree with that from your earlier posts. Another transfer of wealth from PIs. Symbiotic or Corner? Either way, it costs Blinkx' reputation in London. I think in the next few months, we will be the subject of a takeover.
Lol. Ge2, how are your holidays?I'd like to believe in the corner, but I see more of a takeover.
takeover soon or removal of brian.
1gw, you are probably correct. However, I'm happy to re-enter at 15p. What does seem incredible given the below, that we are not a takeover target? How is this exchange different from others out there, as Dan has said before verification companies take an agnostic view to inventory quality where the verification results are provided post campaign so an advertiser does not know what proportion of the traffic was bad until after the campaign has been executed and the results come through. In contrast the RhythmOne exchange pre-filters the traffic in real-time something no-one else does.Unless all the other networks are practically worthless, then there is an anomaly with the Blinkx pricing IMO.I'm glad that non executives and staff members bought in on Monday.
The only hope left is that there will be a hostile takeover and a quick fire sale which may bring in between 30 and 40 pence. But even that is looking less likely by the day. Nobody wants such soiled goods.
RhythmOne/Blinkx is now a US company. I'm looking for a quick sale now. Shame that no one pressed him on potential takeover partners.Why isn't the new Blinkx corporate website launched? Did we receive just a teaser?
Well, they dodged the takeover question. I think Quil is right. we will soon hear an offer tabled. If ADTech is the way forward and we have the tech but not the partners, then the way forward is that of AOL type deal - a nice takeover. Tosca/RG will react at some point in time to realize their investment. It would be incredible that the technology will not be utilized by a larger player.
Potential takeover?
Mr blimp wants to know the likelihood of a takeover. Not going to bother with the answer
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Leluot, I agree that the board are up to something. I hope it is nearer to Barkboo's ideas than a takeover. However, next month, I'm on holiday and I'm patient enough to find out the outcome. The ball is in Blinkx' court. Morality and justice versus Greed and loss of any future credibility to be trusted by shareholders.
We have only 4-8 weeks before the AGM. We have to assume that we have a hostile bod. The scaffolders should arrange a takeover. ;) just kidding.
Indeed Alex. Myself and Barkboo would be most aggrieved at a 60p takeover. One would like something more in the region of 150p plus. That would give me a handsome profit for the heartache over the last year. I think Sikhthebald would like 50p, so he does not suffer too much from his "naked" shorts?
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Spread Betting and CFDs July Magazine edition now online at http://bit.ly/1aCCT0d This month's premium features includes: The Naked Trader; Robbie Burns Reveals his Favourite Takeover Candidates - Jim Mellon explains why now could be the time to go Bargain-Hunting in Greece - Victor Hill offers a Historical Perspective on Sovereign Defaults - Low-Down on the Mid-Cap Market and much more.
LCWA is it 29.9% they need for a takeover or to make an offer? There are in the low 20s now with one more decent shareholder or upping their percentages you may be right let's hope that the board ARE not helping them by putting off the AGM and allowing the share price to stagnate
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It's all speculation at the moment. It's fingers crossed that we are witnessing barkboo's cunning plan and that the board were pissed off about the BearRaid enough to do something for shareholders by getting even. And by not taking advantage of the Bearraid by going for a lowball takeover.
LCWA ... I don't have any ... your holding will do well if the results improve, they will do badly if they do not. You might get lucky with a takeover (the option package may be Brian's reward for cooperating).You guys are looking for "signs" and if you can't find any you make them up.
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A quick question - if there are naked short positions, what would happen in the event of a takeover offer?
Loaf, Tosca and RG are not the only players with capital. Balderton, Invoke and many board affiliated VC's have plenty of capital. The buy in by Tosca and RG must have been sanctioned by the board. For me, this is the only explanation of the boards' actions from July onwards.The markets are flush with cash. ADTech is huge and will continue to grow. Cross screen adverting will be very lucrative and Blinkx has the underpinning technology.In terms of a takeover, it could also be the case that other companies in the ADTech space were not allowed to look at the Blinkx' books. Trust is at a premium at the moment. If Tosca and RG were invited to the table, it maybe from an angle that they would have known nothing of the BearRaid and unlikely to have played a part.
86m shares held by RG and Tosca 68m shares held by other institutions (according to Morningstar) 18m shares held by ML So about 170m shares accounted for in this way. Other 230m shares likely to be held largely by private investors in my opinion. So share price very much at the mercy of private investor mood and also vulnerable to moves based on trading strategies being used by any major buyers or sellers (IMO). So exaggerated swings up when the mood is positive (e.g. RG/Toscafund holdings notices) and exaggerated swings down when the mood is negative. Highly unlikely IMO to be any attempt at or possibility of a short squeeze - more likely to be RG and/or Toscafund positioning for a lowball takeover / take private. Errors excepted. Please do your own research.
Spread Betting and CFDs July Magazine edition now online at http://bit.ly/1aCCT0d This month's premium features includes: The Naked Trader; Robbie Burns Reveals his Favourite Takeover Candidates - Jim Mellon explains why now could be the time to go Bargain-Hunting in Greece - Victor Hill offers a Historical Perspective on Sovereign Defaults - Low-Down on the Mid-Cap Market and much more.
Spread Betting and CFDs July Magazine edition now online at http://bit.ly/1aCCT0d This month's premium features includes: The Naked Trader; Robbie Burns Reveals his Favourite Takeover Candidates - Jim Mellon explains why now could be the time to go Bargain-Hunting in Greece - Victor Hill offers a Historical Perspective on Sovereign Defaults - Low-Down on the Mid-Cap Market and much more.
Spread Betting and CFDs July Magazine edition now online at http://bit.ly/1aCCT0d This month's premium features includes: The Naked Trader; Robbie Burns Reveals his Favourite Takeover Candidates - Jim Mellon explains why now could be the time to go Bargain-Hunting in Greece - Victor Hill offers a Historical Perspective on Sovereign Defaults - Low-Down on the Mid-Cap Market and much more.
Alex, the only stumbling block will be that stocky eludes to is if they have had a profitable first qtr then try to sell on the cheap.There will be a riot!However if they have not turned a profit and fiddle the accounts then we hit 20p or below and suddenly 50p is a god send.Options.1. Turned a corner and keep delivering results, we hit 50p2. Delist from AIM through MBO, we hit 50p3. Friendly takeover with RG, Tosca, management we hit 50p-60p4. Don't deliver results then we could hit 18-20p and expect a buyout for 50p5. Hit results we go to 50p but may draw interest from another buyer could expect 50p -70pEither way 50p keeps coming up for Brian especially.
Why months later?If results are good.RG and Tosca will have a pretty good idea anyway.It will only cost them more...looks like a takeover announcement imminent and a hastily AGM thrown in?
LCWA, Tosca went from ~5% to 11% just days before the options announcement... imo, it wouldn't surprise me if they (Tosca/RG) wanted a friendly takeover.. May be months later, after H1??? we'll find out soon enough...
1gw, I also don't think BM's options are to do with fy2015 performance but seems more like a departing present... there isn't a vesting period and it's before the agm... he's supposed to be up for re-election... Maybe an acquirer wanted a friendly takeover... it's all speculation at the moment, we'll know soon enough - hopefully with the Annual Report or agm over the next few weeks....
It did cross my mind that an "offer" could be on the horizon, and he's setting himself up to cash in as he will most likely be sacked following a takeover.
football I held these shares through thick and thin for six years and then sold because I had had enough (I still have a few but an insignificant quantity) I was actually still wanting to see the co succeed, and held no malice towards anybody. When I saw the news about the options I thought that something was afoot and my immediate reaction was there is going to be a hostile takeover and BM has just bought some life insurance. I thought maybe there's an opportunity to jump back in and make a quick trade and double my money. I have been thinking about it today and I have changed my mind. I feel very angry at the company - for the money I have lost and on behalf of other genuine holders who put their trust in them.
Seanje. That's why they have protected him with a golden parachute.If figures are good he could still get ousted.If figures are bad he could still get ousted.If he doesn't win votes he could still get ousted.If there is a takeover he could still get ousted.If RG and Tosca wish to get on the board he could still get ousted.So I guess 7 million is not bad in a form of a redundancy package.And we all know that 50p will be a cert on any decent results.
Mr Ash, who is taking it private?Could it be private equity between 50-80p or a dreaded delist from AIM by the BLINKX board of directors itself for a touch over 50p....?They wouldn't, would they.?Surely not if the results are great. If your going down that road of thinking Lance then they will probably not reveal Q1 results and call an extraordinary AGM to table their ordinary offer.That would be rather risqué for them but then again this is BLNX.Can't see Tosca or RG happy about a reverse takeover, it could get messier than beggorahs shit stained sheets.Ah well, all's well. Ho hum.
I think a clever individual should take the 7 million shares given to him after all, he's earnt them through blood, sweat and tears over the last 16months.Only another 72.5% rise to go until he hits his target for remuneration.There can not be a deal on the table involving a takeover or offer as Brian would not be allowed his shares...would he?I mean ML, SC and BM are all heads of private equity funds as well as involved with BLNX so I'm sure that they would not partake in any insider dealings or disclosures that would be of detriment to them and the company they work for.If the 23% increase is fiction RG and Tosca may play?
Barky ... I think you'd look good in a Fez, and there's a vacancy for a national joker now that Tommy Cooper has died. So who is the takeover company? I hope you know your reputation is on the line with this one.
Afternoon all, short squeeze or a takeover. Something is happening behinds the scenes.
JonC ... even if you are 100% correct on the end result, that is several years away as they can survive a long time with that cash pile. And a lot can happen in that time period - takeover, a business unit that picks up, regime change ... etc. If Blinkx was heavily in debt I'd be more in agreement.
Loaf, we have to hope for a more upbeat pre AGM statement in early July, otherwise as you say we could be picked off like low lying fruit and any takeover premium might well be reduced because of the autonomy connections and the Edelman affair, well they wont help us anyway on the other hand because the market is anticipating stagnation, that the company will flatline at best, a return to expectations of say 15% growth would galvanise the SP Though the BOD and Mgmt Team have given us no reason to expect this, either by company performance, guidance statements or showing their belief and commitment by buying shares I would think that they would be able to deliver more cost cuts this year and get the loss down and generate positive cash flow but we still need more revenue coming in for bottom line profit, imo, as 1gw has ably demonstrated.
To me all these large buys feel pre corporate takeover rather than mere fund managers buying. Just a thought.
Gowlane - luckily, Big Time Charlie, Digitalis, pops in from time to time to offer reassurance! The end game may well be a takeover. However, in the meantime I'd would not be surprised to see this one leg up again on a stable trading statement ... with the cash in the bank they can stay in the game for a very long time. It will be interesting to watch this one from the sidelines.

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