Catalyst Media Share Discussion Threads

[nickcduk] 05/3/2007 15:58

I think the best solution to the spat between SIS and Racing UK is for Catalyst to simply sell their stake in SIS to Racing UK. That would be the most sensible thing to do all round for all parties. I think as the end of month deadline is approaching and as we have yet to hear anything about the open offer, im guessing that they have gone down another route with regard to the refinancing. Maybe they are in discussions to sell the stake outright, or partially, or possibly agreed an early dividend payment from SIS. Hopefully any these options will create more shareholder value than an open offer would.

[bsg] 05/3/2007 15:48

ditto Andywrx1

[andywrx1] 05/3/2007 15:43

Well it wasn't old news to me. Surely this totally undermines SIS's future which is the only working asset in CMX portfolio (if you can call it that) so this is not good news for me to hear.

[long by name long by nature] 05/3/2007 15:22

Helpful post Robin - but olds news.

[lplp] 23/2/2007 17:26

Very quiet on here guys!

Has your wife left you yet Long?

if you're average price is less than 4p and you follow your money then there is a chance that you will get back what you have lost - I'm hoping.

[lplp] 23/2/2007 17:26

Very quiet on here guys!

Has your wife left you yet Long?

if you're average price is less than 4p and you follow your money then there is a chance that you will get back what you have lost - I'm hoping.

[nickcduk] 19/2/2007 15:18

Judging by todays trades and MM quotes Im guessing we should have some good news on the funding issue soon. I would guess they are putting the finishing touches to the open offer and that they have had no problems getting institutions interested at the 1p level. Id rather I was totally wrong and that SIS had decided to declare the long overdue dividend but i would settle for the former. That should allow for a bounce in the share price once details are announced.

[lplp] 16/2/2007 21:54

Any sensible comment re likely scenarios from here mow that the share price has stabalised?
Best case, worst case or likely scenarios please.
Weve all expressed our disapointment with management but leave that to one side, what happens next?

[morgs] 16/2/2007 08:48

>bsg
A sad but true synopsis, placings have a habit of exausting buyers and leaving the MM and the Sellers. What we need is some positive news regarding SIS dividend to stop the slide post raising.

>Prof, how many shares are you going to end up with on this placing !!

[bsg] 14/2/2007 11:04

I've been in many shares that have sold down for a placing and not gone up, but inevitably gone below the placing price !

[nickcduk] 14/2/2007 11:01

For obvious reasons. It was sold down by speculators under a penny to try and get a lower placing price. The major shareholders had already said they were happy with 1p and so that was going to protect the downside. On lots of occasions have stocks been sold down and then when the shares issued the price rises sharply. They did with ALG only a few weeks ago. Sold it down ahead of the placing down to 80p or so. Then they announced the placing at 75p and the shares shot up to close over one pound. It happens time and time again.

[bsg] 14/2/2007 10:47

Why is this going up now ?

[lplp] 14/2/2007 09:25

We don't want them to do anything but pay down the debt by selling off all other assets than the SIS stake and cutting costs!

[silent_angel] 14/2/2007 07:51

At the end of the day, any extra funding they get is good news as it increases the potential of what Catalyst Media can do.

[Abuse team] 12/2/2007 18:39

Post removed by ADVFN

[nickcduk] 12/2/2007 18:26

A bridging loan could quite easily be made available to satisfy the existing debt repayment issues. This could be secured on any dividend that may be forthcoming from SIS in the near future. These options wouldn't require shareholder approval. It has to be said that SIS are not showing much sympathy to CMX's cause at present and maybe they are playing hardball with a view to picking up the stake at a distressed level. The equity issue I would assume is pretty far down the line given the tight deadlines and so would expect details very soon. The 1p that major shareholders have in principle agreed to subscribe at was at a fair discount to the market price at the time of the announcement. Speculators will obviously try and drag it lower in order to get an even lower placing price but in this case I dont think they will succeed.

[long by name long by] 12/2/2007 15:36

nice one nickcduk - and the time frame for this offer from other shareholders, calling an EGM another 28 days, legal work, completion - aint going to happen by 31st March, is it?

[nickcduk] 12/2/2007 15:05

I think there is a little too much negativity going on here. Institutions have said they are willing to stump up a 1p in any new fund raising. The equity in SIS is worth a considerable sum. If it is not viable to raise equity at those levels then I would imagine the other shareholders in SIS may just end up making an offer for the company as a cheap way of increasing their stakes.

[bsg] 12/2/2007 14:37

2,000,000,000 at .5 p then a consolidation of 1 for a 100. Price then drops to 10p after consolidation, (.1p old money), now where have I seen that before ?

[long by name long by] 12/2/2007 14:22

bsg - I agree with you re price - you could see straight through that the moment it was announced - force CMX to announce 1p POSSIBLE rights issue - then price drops below, guess what guys, the major shareholders are not going to underwrite at 1p, 0.5p sounds about right - we all know it don't we - not sure directors of CMX could see that. Another 1 bn shares added for lack of foresight - these guys should be in the FT top 10 list for adding shareholder value so quickly, only problem is that the value is added to future shareholders, not existing.

[torwood] 12/2/2007 10:08

I have called the FD today who "is very busy" so I am awaiting a call back.
The Directors of CMX have to understand that they have to be accoutable for this mess.
I hope the Stock Exchange will look at this in a more serious and professional light than the Directors of CMX.

I am in no doubt that there is an agenda to take this private and then knock out the stake either to SIS or to someone else who has the financail clout and managerial expertise to extract value from it.

[bsg] 12/2/2007 09:51

Surely letting go of 10% id the SIS stake is better than the dilution for the shareholders. Do the directors give a toss about the share price or are they happy just to take their salary, what ever happens.

ps. I expect the share price isn't helping a placing, maybe they'll have to make it .5p so thats 2,000,000,000 !

[agreeable] 12/2/2007 09:44

It is quite clear to me that the original announcement of the Investec loan was misleading. I am going to contact Class Law with a view of launching litigation against the Directors and the Nomad. I would ask all smaller shareholders to consider whether they would be willing to join in this action. I believe that Frosty would run a mile rather than have his precious house in Carlyle Square put at risk. Now is the time to rise up and make a fuss. I will be writing to the Directors, the Nomad and The Stock Exchange today.
Duffen cannot escape blame, he arranged the loan, he issued the press announcement, he took the vastly inflated salary for destroying shareholder value....he should never be allowed near a public company again.