|I P Live
||EPS - Basic
||Market Cap (m)
Real-Time news about I P Live (London Stock Exchange): 0 recent articles
|glennborthwick: IP Live attracts Moulton
Entertainment production company IP Live announced maiden interim profits earlier this week alongside an exclusive contract to bring an award-winning Broadway show to Europe, justifying recent buying by top private investor John Moulton.
Moulton, of Alchemy Partners fame, snapped up a shade under 3% of the £7.2 million company (IPV) when it launched a £2.1 million fundraising in October.
He holds 305,000 shares.
Moulton was unavailable for comment when we called.
He rose to prominence when his Alchemy Partners vehicle attempted to buy Rover.
In recent years Citywire has tracked him buying into companies such as Civica (CIV) and Infast (HMC).
He has also entrusted some of his personal wealth to the highly-rated fund management team at Liverpool based boutique fund manager Midas Capital where he also owns almost 3% of the company.
His support of IP Live is a positive sign for a company which has only been quoted for a little over a year.
At the same time as Moulton built his stake, the highly-rated Ross Hollyman of GAM was adding to the holding of his GAM Star UK Dynamic and GAM UK Equity Hedge funds.
Between these two funds Hollyman now holds more than 15% of the company.
Other top investors with stakes include Framlington's highly-regarded investment trust manager Brian Watson and Andy Brough of Schroders.
IP Live chief executive Jemma George told Citywire: 'We are building a portfolio of branded live entertainment and they have seen what we've done and like it.'
In the opening half of the year IP made a maiden profit of £130,154, compared with a loss of £83,811 the previous year.
The performance was bolstered by the first income from the award-winning Billy Elliot musical in London's West End and the profitable sale of its investment in the Wonders of the Human Body Exhibition.
Upon the sale of the exhibition IP took an equity stake in the purchasing company which has now doubled in value.
IP Live's strategy is to build a portfolio of branded live entertainment which can be easily transferred around the globe thus cashing in on ticket sales and merchandising.
This strategy was originally honed by executive director Martin Flitton, who helped build the Lord of the Dance into a multi-million dollar global brand.
The latest step in its strategy is the signing of the exclusive rights to produce the Broadway hit Movin' Out in the UK and Europe.
The show has grossed more than $100 million in three years on Broadway and is now on a national tour.
It features 24 songs written by pop star Billy Joel and will open in London in the spring.
Flitton and his team are already working on casting the show in London and a venue is in place.
The crucial difference between the Billy Elliot deal and the Movin' Out deal is IP is the producer of Movin' Out rather than just an investor, and therefore has more control over the show and its exploitation for merchandising and so forth.
IP Live is still a very young company and has some way to go to develop the sort of recurring revenues its management is aiming for, but it is heading in the right direction.
Its share price climbed from 45.25p to 76p earlier this year but has settled back a little recently and is unchanged at 65.5p today.
Investors considering buying IP will need patience as it is still an early stage company but the signs so far are good.
thats enough from me for now|
|nickk1: Interesting share price movement in the last two weeks. Building for a good announcement on Billy Elliot perhaps. Time to get on board I think. DYOR IMO etc etc.|
I P Live share price data is direct from the London Stock Exchange