Share Name Share Symbol Market Type Share ISIN Share Description
Taptica LSE:TAP London Ordinary Share IL0011320343 ORD NIS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 151.50p 148.00p 155.00p 151.50p 151.50p 151.50p 31,118 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 75.8 2.8 3.3 45.9 46.11

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Date Time Title Posts
11/5/201608:41Taptica International Ltd1
24/5/201223:35ADVANTAGE PROPERT INCOME TRUST yld15.6%645
25/8/200912:13Commercial property on the rise10

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Taptica Daily Update: Taptica is listed in the Media sector of the London Stock Exchange with ticker TAP. The last closing price for Taptica was 151.50p.
Taptica has a 4 week average price of 153.65p and a 12 week average price of 146.51p.
The 1 year high share price is 164p while the 1 year low share price is currently 60p.
There are currently 30,438,363 shares in issue and the average daily traded volume is 8,592 shares. The market capitalisation of Taptica is £46,114,119.95.
dibbs: Nice consolidation of the share price at this current price level which would look to be setting up for a fresh move upwards. With a thinly traded share like TAP I think we'll need some news though to achieve this. Dibbs
dibbs: Interesting write up on TAP below, taken from III. Investec forecasting 21.1 cents for this year. I like the "Our 2017 forecasts are unchanged though now look conservative," admits Liechti" Plenty of room for upgrades if momentum continues to build further. Very happy to be holding here with very good scope for the share price to appreciate further over the coming months. It's a big day for Taptica (TAP). Floated on AIM in 2014, the Israeli firm is back above its IPO price for the first time in 18 months. Demand is driven by blockbuster first half results and a special dividend, with bosses bullish on prospects for the full-year. No wonder the shares surged by 29% Wednesday. Taptica's clever software allows advertisers like Amazon (AMZN), Disney (DIS), Facebook (FB) and Twitter (TWTR) reach the right market via mobile devices. This work helped revenue increase by 53% to $51.8 million (£39.6 million) in the six months ended 30 June. That swelled adjusted cash profit to $9.2 million from $2.8 million a year ago, and pre-tax profit sixfold to $6.85 million, giving bosses confidence to pay a one-off dividend of 5.79 cents, or 4.4p a share. We'd been told back in July that business had been better than expected, largely due to surprisingly high margins on campaigns run for clients. Gross margin rose from 26.4% to 34.4% in the six months, and chief executive Hagai Tal tells Interactive Investor he's "comfortable" to say Taptica will achieve "at least what we did in the first six months". Steve Liechti, an analyst at Investec Securities, keeps sales estimates for this year unchanged at $111 million, up from $75.8 million in 2015. But he thinks Taptica will more than double cash profit to $18.4 million, up from his previous estimate of $17.7 million, and grow underlying earnings per share from 8 cents to 21.1 cents. He'd pencilled in 20.2 cents before. "Our 2017 forecasts are unchanged though now look conservative," admits Liechti. Taptica's first half certainly vindicates a decision to target mobile advertising rather than the web, a move aided by the $17 million acquisition of AreaOne in September last year. Mobile business now accounts for 79% of revenues versus 51% in the first half of 2015. It's been a long slog, however, and the share price slumped by two-thirds last summer after the firm, then known as Marimedia, warned its decision to shift emphasis from the display business would damage revenue. "As we went into mobile, we were strong, but focusing on Tier One clients took time," Hagai Tal explained to Interactive Investor. "We've now proved ourselves and it’s easier to attract new advertisers." That includes giant US retailers, which are increasingly focused on mobile ads. "The whole market is growing, and this is just beginning," reckons Hagai Tal. "They haven’t moved all their budget yet, but understand they need to engage with potential customers on mobile. Once they see the light, they start to shift their business." Marimedia floated in May 2014, raising £29.8 million via a placing at 153p. Two months later it bought the Taptica business whose name it took the following year. After hitting a low of 57p last summer, the share price has soared from just 63p in June to a high of 165p Wednesday, a gain of 162%. At that level, the shares trade on a forward price/earnings (PE) ratio of 10.2 times, dropping to single digits based on 2017 estimates. That doesn’t sound expensive, and it's not, but the market has been reluctant to rate Taptica more highly given its track record, preferring instead to see how the transition to mobile goes. It's gone well so far, and investors are clearly happy to pay much more for the shares. As that track record improves, so too should the rating. Investec has raised its price target to 160p based on today's results, but clearly there is room for further upside if the second half goes as well as Taptica predicts. As Investec says, their forecasts could be conservative. This is an exciting business, but at these elevated levels is a 'buy on the dips' for brave investors only.
tadtech: Seems to me this is heading towards £1.75p to £2 - a valuation of about £100m to £120m. Expected EBITDA UP 140% to £13.85m year end 2016 (probably a conservative assumption see RNS link below) The company had £14m cash end December 2015 and remains cash generative. Institution investors adding to positions, already scarce circa 60m shares in issue Dividend policy equals 25% of net profit. For a growth company the current valuation is too low, probably selling at under 10 times earnings. Hardly a share can be bought at the current time without a move up in the share price. DYOR etc
fillipe: As is the share price - 113.8p paid 0907 hrs, after a strong open today. f
fillipe: First Class Trading Update today - being noticed, but an opportunity is being missed by many. f
this_is_me: The directors are only going to accept the offer if the offer gets over 75% acceptances. With the share price rising above the offer price it is becoming increasingly unlikely that they will get 75%. I am certainly not going to accept any of their offers.
topvest: My thoughts on this are as follows: - Ware has a good CV; - Conygar has always (until recently anyway) been very highly rated, presumably because Ware has a good reputation; - Not spending the substantial cash he raised in a property boom has to be applauded; how many other property companies stayed in cash - not many! - This deal has compelling value to both sets of shareholders - LONG TERM. - I only bought in after the deal was first announced as I thought it made sense. - TAP on the other hand has a v. poor record and is a costly business to run - immediate savings can be generated by sacking all the advisors and bringing in house. Personally, I don't really care about the short term performance of the share price. I've bought on a 2/3 year minimum timescale.
ianbrewster: RNS Number : 1133X Conygar Investment Company PLC(The) 07 August 2009 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 7 August 2009 Offer by THE CONYGAR INVESTMENT COMPANY PLC for the whole of the issued and to be issued share capital of THE ADVANTAGE PROPERTY INCOME TRUST LIMITED Offer Summary * The Board of Conygar is pleased to announce an offer to be made by Conygar to acquire the entire issued and to be issued share capital of TAP not already owned by Conygar at the date of the Offer. * The Offer will be made on the following basis. At the option of TAP Shareholders: (a) one New Conygar Share for every five TAP Shares held at the date of the Offer; or (b) one Conygar Preference Share for each TAP Share held at the date of the Offer, redeemable on 31 December 2011 at 25 pence and convertible at any stage at the option of the holder into one Conygar Share for every five Conygar Preference Shares; or (c) 15 pence in cash per TAP Share held at the date of the Offer. * The Ordinary Share Offer values each TAP Share at 20.2 pence and values the entire issued share capital of TAP at approximately £28.8 million, based on the Closing Price of 101 pence of a Conygar Share on 6 August 2009, being the last Business Day prior to the date of this Announcement, and represents: * a premium of approximately 17.1 per cent. to the Closing Price of 17.25 pence per TAP Share on 6 August 2009, being the last Business Day prior to the date of this Announcement; * a premium of approximately 5.8 per cent. to the average closing price of 19.1 pence per TAP Share for the three month period to 6 August 2009; * a premium of approximately 15.4 per cent. to the average closing price of 17.5 pence per TAP Share for the six month period to 6 August 2009; and * a discount of approximately 1.5 per cent. to the Closing Price of 20.5 pence per TAP Share on 28 May 2009, being the last Business Day prior to the commencement of the Offer Period. * The Offer will be conditional, inter alia, on Conygar receiving such number of valid acceptances which, together with any other TAP Shares held or acquired by Conygar, represents over 50 per cent. of TAP's issued share capital and will be subject to the conditions and terms set out in Appendix I together with certain further terms contained within the Offer Documentation. * Conygar has received an irrevocable commitment and letters of intent to accept the Offer in respect of approximately 33.7 million TAP Shares, representing approximately 23.6 per cent. of the existing issued share capital of TAP. These shares, when taken together with the TAP Shares already held by Conygar, represent approximately 52.5 per cent. of TAP's current issued share capital, which is in excess of the acceptance condition set for the Offer. * The rationale for the Offer is that the Board has been concerned at the pace at which it believes the financial difficulties created by the current economic downturn have been dealt with by TAP, in particular against the background of a 34.7 per cent. fall in TAP's net asset value between 31 December 2008 and 30 June 2009. * In addition, the Board believes that Conygar's resources, industry expertise and active and direct management style will benefit shareholders in the Enlarged Group through: * an increased focus upon the need to conserve cash flow and repay high debt levels; * more active asset management and an accelerated disposal programme; * cutting property outgoings and other overheads, which stood at £3.9 million (including £1.7 million paid to TAP's property fund adviser) in the year ended 31 December 2008, to a more appropriate level; and * a reduction in reliance upon external advisers for core strategic and financial matters. * The acquisition of TAP by Conygar is a reverse takeover under the AIM Rules for Companies and is therefore subject to the approval of Conygar Shareholders at the General Meeting of Conygar. * The Offer Documentation, containing the full terms of the Offer, will be posted with the Equivalent Information Document to TAP Shareholders as soon as possible after, and in any event within 28 days of, the date of this Announcement (unless agreed otherwise with the Panel). Robert Ware, Chief Executive of Conygar, said, 'We believe that the terms of the Offer are attractive for TAP's shareholders, providing them with the benefit of Conygar's financial strength and operational expertise given TAP's leveraged position and the uncertain times ahead for the commercial property market. We believe that the acquisition of TAP will be an excellent strategic fit for Conygar and our core skills and financial strength will enable us to maximise the opportunity and enhance value for shareholders in the Enlarged Group going forward.'
alanji: Bought back in today after selling out mid May because I was worried about the dividend. I was kicking myself for missing the dip to under 19p on 1 June. I do not see how another bidder will come in unless CIC withdraw but I am happy to accept CIC shares - by my calcs the enlarged group will have a nav of over 200p per share against a CIC current (31 March) nav of about 165p. With the shares at 105p, this would be a discount of almost 50%. Importantly, CIC is in cash burn at the moment and after the acquisition it will be cash positive - justifying a re-rating. OK, probably no dividend but the ltv covenant risk disappears, as has been pointed out. I think a reasonable discount would be about 25%, implying a share price of about 150p. There is a risk that TAP sellers will keep the CIC price depressed for a short time but value will out sooner or later. EDIT: forgot to discount the TAP shares CIC already own - figures adjusted 7.30 pm
martincc: From conygar's statement re possible offer - * The Board of Conygar believes that swift and effective action is required to prevent further loss of value for all of TAP's shareholders and in particular the Board of Conygar believes that the following actions are required: * total focus upon need to conserve cash flow and repay high debt levels; * more active asset management, using Conygar resources and expertise; * cutting overheads to a more appropriate level; and * the reduction in reliance upon external advisers for core strategic and financial matters all of which, the Board of Conygar believes, are core skills of Conygar's management. Looking at the two companies in simple terms, Conygar share price has risen around 90p to 110p c.20% from the recent lows, pays no dividend. TAP share price has risen from around 10p to 22p over 100% in the same period, and potentially will pay a 4p p/a dividend. 'The Board of Conygar believes that swift and effective action is required to prevent further loss of value for all of TAP's shareholders' Who are they kidding? Maybe TAP should bid for Conygar?
Taptica share price data is direct from the London Stock Exchange
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