Ebiquity Share Discussion Threads

[allonblack] 02/10/2018 08:50

I think the cfo got the boot for a poorly managed bullet loan deadline in September. I also think there is a view that the CEO is not commercial enough. He has saved his skin for now by a forecast that h2 revs for Media and Analytics divisions will be higher in h2 so next year forecasts going to 77m with cashflow of 7.5m.If the cma approves and we get a trading statement in November which this guy can approve to the board then the shares will be 100p and the company will be sold.If the cma block then he will deliver the cost savings to the board necessary to get cashflow to 7m. Either way the troops have arrived and this is what we have wanted. His experience I think shows how seriously the board take the covenant situation. This implies CEO on last legs too. All good.With central costs of 7m it can be sold long before debt problems arise. This guy is there to give the nod that the numbers add up.

[p1nkfish] 02/10/2018 07:53

Some change is coming - merger, acquisition, debt address through some financing. It looks like McNair has some specialisation in managing through periods of rapid change. Sometimes that results in a wind-up. CEO & COO capabilities, might make a new CEO. Interim, so perhaps I'm a bit trigger happy. It does sound like a tick-up is needed and the fact he will be on the BoD as full executive is interesting - either he could hang around after being interim CEO, he won't remain interim, or there is another role waiting at EBQ after interim CFO. CEO?

[p1nkfish] 02/10/2018 07:43

Some implication that he has a background of arriving when there is need to tidy and/or secure financing and sometimes results in winding up once creditors satisfied etc. There are a few instances with his name. May be a complete coincidence of name and function. Angel appointment. "I am delighted that we have been able to strengthen our team through the recruitment of Kevin McNair, who is already contributing significantly to the task in hand regarding future financing of the Company." Rame appointment. "Kevin's experience in capital markets and the resources industry is highly relevant to Rame and we are delighted that he is joining us.  As our diverse portfolio of power projects matures, we will need to find a variety of creative ways to finance individual projects in order to maximise value for shareholders. Kevin's city-focused expertise and broad network will be highly beneficial in achieving this." First AIM appointment appears NUOG.

[p1nkfish] 02/10/2018 07:31

Wonder if this is the same Kevin McNair that was CFO of Rame Energy, Angel Mining & others. I ask because background appears resource tilted and unfortunately called in where finances were an issue and administration resulted. Examples below but not exhaustive. Now, might the existing CFO be stepping down due to some problems and McNair, with experience of tidying up, be called in? "In addition, Mr. McNair was appointed a Director of Boxwood Group Limited on 1 April 2003.  On 15 December 2005, the business and assets of Boxwood Group Limited were acquired by Boxwood Limited as part of a pre-packed administration. ; There was no shortfall to creditors. Mr. McNair was appointed a Director of Certainty Group Security Services (Holdings) Limited on 31 October 2002 and resigned on 1 December 2005.  The company was placed into administration on 1 May 2006 as part of a larger group restructuring.  There was no shortfall to creditors. Mr. McNair was appointed a Director of Angel Mining plc on 24 May 2010.  The company was placed into administration on 1 March 2013." This makes me a little more cautious.

[allonblack] 01/10/2018 12:54

CEO: "The first-half revenue performance of the Media, Analytics and Tech practices together with a strong pipeline, provide confidence of an improving revenue and profit performance in the second half of the year."These two divisions did £35m in revs in h1. If he means up hoh in h2 then as we get into 2019 and post disposal the new group could have 75-80m in revs and a 11-12pc margin.Its this that has thrown the CEO a lifeline. If he is saying the biz grows again in H2 then there is an up turn at hand.50p offered and soon to be 100p then a take out.

[russman] 30/9/2018 15:39

If EBQ do not close this deal by Dec. I will be displeased

[allonblack] 30/9/2018 14:48

65p post cma approval/a decent plan b being announced and a take out by the end of the year at 120p. Revenues under priced and there is a lazy board paying itself 1.5m with the same again in rent. Its a sitter now.

[p1nkfish] 29/9/2018 19:05

"S4 Capital plans further acquisitions in content, data analytics, media planning and digital media buying." Sorrells new vehicle, S4 Capital, would do us all a favour if it looked this way. EBQ is probably too small. They have bought MediaMonks and looking for other targets.

[allonblack] 29/9/2018 08:34

That sounds exactly right. I think the ceo will survive if cma approve disposal. He has bought some time through promising a better second half. But needs to put his prices up.

[p1nkfish] 29/9/2018 08:22

Could well be Aremis are becoming active and CEO threw CFO under bus to save his own skin and cfo then resigned. No mention of CFO having moved as a career progression, just resignation.

[p1nkfish] 29/9/2018 08:18

A post from July. Want to see track record of new cfo and him buy shares. Last CFO was internal promotion. "p1nkfish 27 Jul '18 - 10:19 - 115 of 137  Edit The CFO picked up options and stated he will hold them but his total holdings are patry. At this price he should be mortgaging the house if he believes there is a future here. A non-committal CFO is a bad sign. I hope Artemis go through this like a dose of salts. Replace with management Artemis can work with for a common goal of maximising shareholder value with shareholders and management aligned, on the same bus with a capable driver'

[p1nkfish] 28/9/2018 19:42

I hold a fair few. Currently acceptably below water, not life threatening. Question is - when? On paper there is value but how will they cause it to be realised in the sp?

[allonblack] 28/9/2018 15:54

Well hold on tight. Might be bumpy but this is going to roof it.

[jadeticl3] 28/9/2018 13:49

I paid 125p for my original shares in about 2000. Never looked good, but always there was hope, which never materialised!

[allonblack] 28/9/2018 10:29

Its going to be the Huntsworth of 2018. 120p and then on...

[spooky] 28/9/2018 10:13

86,000 at a 2p premium.

[allonblack] 28/9/2018 09:25

Sellers have disappeared. Not a share to be had. Post disposal normalised cashflow of 7m. Accenture will be conflicted in marketing consulting now and big market share up for easy grabs. Bullet loan sorted regardless. Given the sweet spot and growth of the core biz this stock is going to roof it. The worst is over.

[allonblack] 26/9/2018 14:06

Post results I think the shares are a steal here for the following reasons:1. Clear the CEO isnt pricing properly - 100pc client retention in the media biz and they boast about that?2. The disposal now clearly sht to everyone. 3. There should have been a rights issue to repay a slug of the bullet loan instead of panicking and doing the disposal. But that would have meant the CEO resigning.4. Blocking the deal will provide better cashflow and force cost savings/rights issue/ CEO stepping down - im assuming here Artemus/JO Hambro understand what the banks could do with the bullet loan (look back at GGP) and this should never have been a problem because there is growth and cashflow. Lets be clear though a key positive is the loan being extended to 2020. Equity guys might miss this but its a major bull point from here. 5. On 4x cash there is no downside because the core business is growing like a train. Another key positive from yesterday (despite no re pricing for ROI). Once the CMA rule this will be a bid target if they dont hire someone like the Future PLC cfo for the CEO role.The core biz will make this a great investment. Its a shame the CEO put himself before the company.

[allonblack] 25/9/2018 07:37

Such a shame its the CFO standing down and not the CEO. That would have put the shares through the roof. Good cash conversion and despite the clown at the top this business should be worth gbp70m for starters. Sadly it wont get there when potential buyers will be put off by a lack of trust in the CEO.

[p1nkfish] 19/9/2018 19:56

aob, it's either found a floor or a new ceiling for a while. It looks a little ominous at 40p.

[allonblack] 19/9/2018 09:43

Well the stock seems to have found a floor here. 2x cashflow before central costs of 6m. Results next week. How bad can they be?

[p1nkfish] 14/9/2018 19:57

It's small beer to the large holders compared to their total portfolio value and the upside to activism also probably doesn't inspire them to give management a kick imho. There's a lesson in this. Skin in game etc of large holders compared to their total portfolio values. Also, EBQ top brass might be very good at spinning a line to keep larger holders on side. Anyway it's ridiculous & frustrating.

[allonblack] 14/9/2018 19:12

It is most frustrating to see large investors take over sized positions for their investors in a business that could be dominant in its sphere (and that is all important these days) and let it be drained of cash by an analyst who cant run a company. Is it just me or is this bonkers?