||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Timeweave (London Stock Exchange): 0 recent articles
|fairenough11: So,for around £50M they have robbed shareholders of
£33M in cash(Retail was given away also as was worth at least twice what alm sold it for)
So for £17M they have robbed shareholders of:-
Turf TV(Producing Pre Tax of around £6/£7M in profits pa)???????????
So stripping out the cash,they have bought £6/£7M of earnings + DCD media and sporting Wins for £17M---Pure legalised Theft imo.
Joe has been aided in this legalised theft by the company not being promoted in any way by the BOD.Well done Craven et al.where was the company promotion to the city??.As soon as this guy arrived I marked your card.
They even fell back onto Aim so it could take place.
Non promotion of the company has allowed the share price to languish and the pure legalised theft to take place.
|dealit: Anyone feel that there is something developing to make the share price move north.|
|greasynut: Todays announcement will come as a shock to those who bought in for a long term 10% dividend income stream. To completely eliminate the dividend is quite an extreme step to take in one go and I am surprised that the share price has not suffered more (early days though). Can't see much upside in the share price in the medium term as a decent fraction of the shareholder base has effectively been told to 'get lost' and that will create an overhang of people wanting to exit on any share price opportunity.
However, the company has always stated that its strategy is to invest its cash pile sooner or later, so we can't complain about the loss of cash backing the share if that starts to happen.
A line from the results states 'The decision to suspend the dividend distribution is specifically in response to an opportunistic investment environment.'
They currently have £33.4-£8.4=£25 million available cash. It would be incautious to go below £16m before the Matchbet issue is resolved, which only leaves £9m spendable. If they paid out £6m in divis it would hardly be worth the effort of recruiting a new CEO, having performance targets etc, so I can see where they are coming from. I don't suppose they will be going on a spending spree.
Having said all that I would have much preferred it if they had shut up shop and just become a pass-thu vehicle for the AMRAC cash. Funnily enough, there would probably be much more upside in the share price if they did just that.
Aside from the divi and litigation issues, the cashflow from AMRAC will remain as the main driver of value for this company in the long run. It is just that my share of that cash is going to be reallocated by management, rather than myself.
In many circumstances this would be enough to make me exit my (rather modest) position. However, at the current price the fundies look rather compelling according to my spreadsheet so I think I'll see what develops for the time being.|
|greasynut: The loan notes will have a fixed £ value when they become due in October.DCD will then redeem the loan in cash or shares, the number of shares dependent on the set conversion price for each issue.
The best deal for DCD would depend on the share price (or intrinsic value?)at the time.
eg Above 18p, best to pay cash. Below 18p, best to issue shares.
For the 1p conversions, certainly better to pay cash rather than issue loads of new shares.
The opposite scenario is probably better for TMW. We do not yet know their strategy - cash return/strategic holding/takeover.
The key point, ISTM, is that it is the choice of DCD whether to issue cash or shares. All the comment I have read assumes that they will fully convert and TMW will end up with 29.99% of the equity. I expect that will depend on their financial position at the time, and how much they want to curry favour with TMW (eg agreed deal).|
|grahamburn: Initially thought that today's holdings RNS (showing a substantial reduction in Aviva's holding) might explain the relentless day-by-day fall in the share price. But on closer inspection, the reduction occurred on 30 November and it's taken all this time for the information to reach the company.
So, what IS causing the fall?|
|littlemadam: calamity. I too have sold my holding, 2 days ago. That's usually a sign for a share price to take off! But I have just got fed up of waiting, having held for more than 2 years.
Put the proceeds into TCG the other day. A broker forecast of 140p just out this morning, so here's hoping - once again.|
|littlemadam: calamity - dizzy heights of 27p again. If we get over 28p then I shall start to believe it can go much higher.
Decided to hold on here just for the dividend. A higher share price would also be very nice.|
|boadicea: At current low interest rates the company won't be earning much on the cash, so returning say 10p/share to holders would boost the yield to 15%+ if it knocked that 10p off the share price. On that basis it might knock very little off the share price
Agreed, they could do something interesting with all that cash, but my experience says they're just as likely to do something silly!
If this were any normal company it would be trading around 38p - i.e. a p/e of 10 for the business on a nil cash basis (=24p) plus another 14p for the cash.|
No mention of returning funds to shareholderas. TMW now has £31.9m in cash, which I think equates to about 14p per share. So, it ain't going bust anytime soon but the market clearly wants some action with all that loot before it adjusts the share price.
I do not think a return of cash would do the price any good. We need to see them do something with the loot.
I was given to understand the Chairman has been undertaking a review of some sorts over the past 5 or 6 months. I cannot see any news or sign of that.
In the meantime the divi is great but, as you say corporate action has to follow soon.|
|littlemadam: Down we go again. I have e-mailed the chairman twice to ask what is going on and when we can expect news but have had no response. I know the following message might sound rude, but I am losing patience. Of course, small shareholders don't really matter ...... do they?
Sent via the FD.
Dear Mr McLaren,
I have still not received any response from the Chairman - not even an acknowledgement of my e-mails. I think I have been very patient in waiting so long. Do you know of any reason why he has ignored my mail? I find the situation unacceptable.
In the meantime we see the share price dropping, during a time when markets have recovered and many, many share prices have risen substantially. Timeweave is in an enviable position with its cash and profits, a position which many companies would envy.
Shareholder value is indeed being seriously eroded. I hope this review is worth waiting for!
Any comments - from the Chairman or ANYONE would be appreciated.|
Timeweave share price data is direct from the London Stock Exchange