UBC Media Share Discussion Threads

[gekko68] 25/5/2014 13:29

I owned shares in a company called castle-ton,they sold of parts to coms & said it was in the best interest of the shareholders,yet the parts they sold off are making record profits. Coms shares also sky rocketed while castle-ton went down.
This kind of thing goes on every day. Trying too prove what was in the best interest of shareholders can be lengthy & some time difficult too prove.
Castleton director is not only a holder in Castleton but also a holder in coms.
I reckon what he did was the best interest of his holdings,think the same happened here. He perhaps thinks your company might be a hindrance to his shareholdings.
Another thing,whether you like it or not,On-Delta put up most of the money in the deal,so whether you like it or not we had the last say whether the deal went ahead. Audioboo also wanted the deal too go ahead,after all they made a offer for One-Delta & one-delta did a reverse takeover.
But there is one thing you are over looking,UBC holdings investment in Audioboo has also sky rocket,its has gone from £1.2 Million to over £7 million.
You should also take a look at who had been buying up the shares in the last few weeks. Most of the buys have been by large investment companies. It is in only the last few days that private investors are beginning too notice this company & see the potential.

[smithie6] 25/5/2014 13:14

Dear all.

If people with some experience...and their own website to post their financial opinions....like Michealmouse....cant understand the basics of the UBC deals....and make "basic" mistakes in analysing the basic numbers...

(if I am wrong ....I will grovel profusely, but I am 100% sure I am not, not very often that I make mistakes with basic numbers)

what chance is there that normal PIs with less financial knowledge can understand the basics before they decide to vote yes or no ??!!!

[manowarfare] 25/5/2014 13:07

Careful.
the md is trying to give it all away virtually for free....
and without getting shareholders to vote on giving away Audioboo stake...(which I question whether that is illegal)

He's not rrying he's doing it. We've been played for saps.

[smithie6] 25/5/2014 12:29

Gekko

" In that time holders of Audio-boom might be sitting on huge gains as UBC goes down."

So, do you agree with me that the MD was negligent in the dilution of the UBC stake in Audioboo from 51% (see RNS) to 23% ?
---

If UBC shareholders vote YES to the merger with 7Digital...
then the MD will have turned the previous UBC shareholder stake in Audioboo from 51% (see RNS) to around 4%.....while the Audioboo share price has rocketted.

As I have posted....imho that is gross negligence.

And also breaks all the rules and recommendation in any paperwork about Venture Capital investing (eg. VCTs) .....which Audioboo was and is.


'if' the MD has in fact sold out of a deal that he is recommending to shareholders/investors....(I have yet to read the pdf files, assuming they have been issued now, I have read the details in the RNS)
I would question whether that breaks any rule/regulation.

"this is a good deal for you, vote yes, and you should buy the new shares to be issued.....while I think it is bad for me and I am selling all my shares" !!!

..I will try to see if the pdfs exist...and check...
"the RNS" listed no shares for the MD after the 7Digital merger ..if it happens
..ie. that he will sell...

----

Legal costs.
If the FCA or London Police Finance dept. were to investigate...to see if any law or regulation had been broken
the cost to me is ....zero.


The FCA investigate, warn, fine and caution directors all the time....

they have a web page with a list.....bit of a shock to see how long it is !!

[michaelmouse] 25/5/2014 10:22

Thanks Dave.

Michael.

[sweenoid] 24/5/2014 22:36

Nice summary Michael

Succinct, accurate and I agree entirely with your reasoned comments

Well done and thanks for the clarity

Dave

[gekko68] 24/5/2014 08:27

Another thing that would concern me if i was a holder in UBC,the thread on LSE regarding your company has gone quiet since Thursday,suggest's to me allot of people have sold up. There all talking about Audio-boom. Your director sold out,that is another concern. He thought perhaps Audio-boom would be better off on its on without other pats of a company holding it back. Could be UBC are going to announce record losses this year with there new acquisition.

[gekko68] 23/5/2014 18:05

You will notice the only person talking to you is a holder in Audio-boom. No one in UBC is backing you up. It would take years & allot of money which you would have too pay in legal costs for you too get anywhere. In that time holders of Audio-boom might be sitting on huge gains as UBC goes down. I only buy shares in companies that are going up. The share price says it all. There have been allot of interest in Audio-boom from large institutions,they have been buying up the share in the last few weeks. Looks like your director got rid of his holding in UBC,why do you think that is?

[smithie6] 23/5/2014 17:14

7M is not correct.
22M cap value. 1/5th for UBC = 4M

THe UBC bod now propose to merge UBC with 7Digital where the value for UBC will be around 3M. Less than the value held in BOOM...and ignoring the 1M loan made to 7 DIgital...and ignoring the UBC patents (the reason why the deal is happening imo....and why IMG are there)....and ignoring UBC client list...incl Sirius satellite radio ...and many digital radio chains around the world.

Insane ?
Of course.

And imho illegal....since dirs. have a Company Act duty to safeguard co. assets....
not sell them for less than the cash value.

----

'your' company (BOOM) was our company...UBC's ....we owned 51% at the deal with ONE DELTA.

UBC were controlling shareholder....

is it up to dirs. and bods to manage and direct controlling shareholdings to try to obtain general benefit for the shareholders....Company Act 2006.

Not spilt milk. 'If' any law has been broken ....then action can happen.....although of course it takes time for the system to work.
FCA & SFO have taken many actions in the past....and they havent stopped
(even if most PIs think they only do a fraction of what they should)

You reckon that all the investors in the cases where the system took action should have kept quiet. I disagree. The law and regulations are there to be observed.

if someone steals your car....is that also spilt milk ? forget it, move on ?. of course not.

[gekko68] 23/5/2014 17:02

UBC currently hold 19.9% of Audioboom which has a value of £7.11 Million pounds,yet you only have a market value of £6.17M. Seems to me your company has done well with its investment in our company,your holdings is worth more than the entire market value of UBC. Looks to me you did well by the deal.

[gekko68] 23/5/2014 15:39

Twitter are already linked up with Audio-boom,there client list is quite impressive. Steven Fry is a fan of both. There is no use crying spilled milk,the deal is done & dusted. I have been in shares where the director sold of parts & the private investors had no say it the mater,it happens all the time. UBC could have bought out Audio-boo outright,but they did not. One-Delta put the deal together.
Best not getting emotional here & move on. if you no longer like the company you are invested in,then buy something else.

[euclid5] 22/5/2014 20:29

Think ythis a bad deal for UBC holders as they have down valued their own co - sold off nearly 30% of their stake in AudioB & UBC shares half in value - due to new shares to pay for 7D - guess the larger Inst's wanted this deal sewn up like IMG as UBC shares were a failure for years stuck around the 3p mark & i recall never mad a profit

[sweenoid] 22/5/2014 19:01

Smithie

You will have a small group, this is the stock market pal...it's NOT fair, it's a bet, bleat all you like, have some balls, if you really believe this is a good punt invest long term , I suspect you are a pumper and dumper, I apologise if I am wrong, if you are.....tough luck ;-), if not ..be patient

S

[gekko68] 22/5/2014 18:13

UBC will own 18.9% of One Delta,which is now audio-boom. Your company still has a holding. One Delta put in far more money than UBC. One Delta has previously raised £3,485,000. Yet the value of the shares put in by UBC where £1.3 million.

[gekko68] 22/5/2014 17:57

This had been going on for months & there where no protests,now you are protesting because your share price is down.

RNS Number : 1337G

One Delta PLC

02 May 2014

2 May 2014

One Delta Plc

("One Delta" or the "Company")

Resumption of Dealings

On 17 March 2014, trading in the Company's shares was suspended pending an announcement and publication of an Admission Document relating to the Acquisition of Audioboo Limited. The directors of One Delta Plc have requested the AIM team to permit resumption of dealings following publication of the Admission Document and the related announcements on 1 May 2014.

[gekko68] 22/5/2014 17:52

Did you not see this deal coming months ago? You protesting now because your share price is down?

[smithie6] 22/5/2014 17:30

"UBC currently holds 51.62 per cent. of the ordinary share capital of Audioboo and has made loans to Audioboo which are convertible into shares of Audioboo."


"Following completion of the acquisition of Audioboo by One Delta which is expected to occur at the end of May 2014, UBC will hold 18.9 per cent. of the enlarged One Delta group."


ONE Delta shares go X 3 after deal with Audioboo is done.


Nice one Simon.....

UBC shareholders....well and truly shafted.

If UBC owned 51% of Audioboo now it would be worth over 10M.
and could have got the investment from UBC shareholders + some new ones

more than the cap. value of UBC.

[smithie6] 22/5/2014 17:26

btw
I have voted no to all resolutions, 600k shares.

(and in future I will be voting against re-election of Simon Cole at any/all AGMs)

[smithie6] 22/5/2014 17:01

BTW
weeks/months ago I posted that the logical thing to do...with UBC doing corporate activity ....was to first float Audioboo....

hopefully see the share price rise due to no shares available...and some demand for an exciting share in a growth sector perhaps lifting up the share price...

and THEN

UBC has a higher cap. value and can obtain a better price when merging with 7 Digital...

very obvious and child level stuff.

Simon Cole , UBC MD, did not do it.

And appears to have over 50% of votes agreed to merge with 7Digital at a price that ignores that the UBC stake in Audioboo has multiplied in price x 3.

And what has happened to the 1M pnds lent to 7 DIgital ...no mention of it in the details I have seen so far.

All smells fishy to me.

As if Simon Cole, UBC MD, has quite happily agreed to sell UBC shareholders down the river. Doesnt add up to me.

Can shareholders vote NO to the deal as it is and require better merger terms ??
and/or take the Audioboo transaction to court....with UBC dirs. failing in their legal duties to try to safeguard company assets and obtain shareholder benefit...rather than allowing new shareholders (from no-where) take up the new shares in Audioboo and UBC not take up any new shares. (company act requires pro rata share issuing)

[smithie6] 22/5/2014 16:50

Hargreave Hale have 35M shares in the newly listed Audioboom...renamed from Audioboo


Expect they are happy.

Multiplied their money x 3 in days.

While UBC shareholders are not !....as their % went from 34% to 19%.

Company Act 2006 requires new shares to be issued pro rata to existing shareholders.

Did Simon Cole break the Company Act 2006 with UBC voting yes to the cash raising at Audioboo not offerring shares pro rate to UBC ??

And noting that the dirs. have a legal obligation to operate a company for the general benefit of its shareholders....

how UBC can fund the development of Audioboo...and have option to be > 50% owner due to its work with Audioboo....to then vote to allow others to step in and make the profit from its listing.

Looks possibly illegal and criminal imo and that needs investigating.



(UBC shareholders funded a lot of the development and risk of AUdioboo....
and when the time came to list it

bang...

along come some new charlies to get shed loads of new shares....and none taken up by UBC or UBC shareholders ?!!!

AMAZING. imho....dodgy/dubious....and I propose an investigation to see if the law has been broken.