Ebiquity Share Discussion Threads

[allonblack] 19/9/2018 08:43

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 18:57

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 18:12

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?

[p1nkfish] 14/9/2018 16:43

Don't hold your breath. A sorry state of affairs indeed. No sign of major shareholder activism.

[jadeticl3] 14/9/2018 11:39

allonblack, I do not doubt that you are right, and I wish someone would do something sensible, but there is no sign that anybody is taking any notice. Directors continue to milk this dry, then retire with enough to see them through. We need some big investors to do something.

[allonblack] 24/8/2018 12:38

I have a sneaking suspicion that the CEO didnt watch his cash at bank when he spent 7m over two years on nothing at all and reduced his cash balance to 4m!! These are the actions of a corporate clown and he needs to go. Thats a self evident step one.For step 2 I would suggest the board put forward a plan to reduce costs by 3m over three years. Board salaries/payments could fall by 500k, interest could fall by 500-750k and a smaller lease agreement could add 500k. There is half of it right there. Admin cost saves could add more.Maybe when the board lose a third of their cash in proportion to the disposal they will understand the economics of the shareholder point of view. Dont argue its about growth when you are throwing away money with no ROIC. You might be clowns and Artemis might not do their homework but your smaller shareholders are all over it.

[allonblack] 24/8/2018 09:25

A key question for management is why sell a business, give up 3m pa in cash out of 10m (at best) firstly at sub 10x (especially given dominant position in market) and secondly when you cant get any central costs out so its actually a cost for shareholder eva to sell it?? Madness like I never seen. Our only hope is that an astute company out there spots the 6m of central costs here that arent needed and realises ex these the biz could be worth 10m cash pa.

[jadeticl3] 06/8/2018 08:15

This is either a great deal at these prices OR a no hoper! I am not buying more.

[trjones2] 05/8/2018 09:23

director buying rns then another report that he is selling

[p1nkfish] 27/7/2018 14:43

I bought a chunk on weakness. Glad to see Artemis added too and I think they will rock the boat positively.

[horndean eagle] 27/7/2018 14:17

Stock very difficult to pick up now. Wouldn't be surprised if it recovers a fair chunk of recent falls in short order.

[allonblack] 27/7/2018 09:22

When the ceo goes there will be a bun fight for stock.

[p1nkfish] 27/7/2018 09:19

The CFO picked up options and stated he will hold them but his total holdings are paltry. 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.

[allonblack] 27/7/2018 09:03

Some easy quick money from these levels if they can argue the deal has been frustrated. Its not the poor growth its the cash it generates and its market position. Hire in a divisional head, boot out the ceo for poor execution and get in a rain maker rather than an analyst to run the company.

[p1nkfish] 27/7/2018 08:21

Artemis have been picking up sells. They can be an active shareholder. This company desperately needs agitation for change. Now holding > 20% there is every reason for Artemis to grab mamangement by the balls and squeeze. The buck stops with the leaders. "Artemis is an active investment manager. Developing relationships with the managements, boards and other representatives of companies in which we own shares is integral to our active approach. As stockpickers, we ..."

[p1nkfish] 25/7/2018 17:24

I'm becoming of the opinion these type of companies attract the wrong type of CEO/Management. Good communicators of ideas, increasing shareholder value and profit not such a priority.

[allonblack] 24/7/2018 17:56

The sad irony is this guy has done nothing but go around doing presentations outlining how he is in a sweet spot and businesses like Rhythmone are dead and yet in that time his share price has not outperformed Rhythmone at all. Pricing your product correctly in a dominate market position with strong cashflows vs a panic sale would be a simple yet all to obvious an example of his lack of ability to do the job.

[p1nkfish] 24/7/2018 17:12

Part of results presentation last time stated below, addressing expected divestiture proceeds. £5M in fees and incentives and tax. I can't imagine fees and incentives going down. Perhaps increased costs might be offset if the divestiture show growth before any completion. No way to know. Bets off if the divestiture revenue shrinks in the meantime. Mention of incentives suggested Nielsen weren't charging at the bit to buy. "Gross Proceeds of £26m translate to net proceeds of £20m after tax, advisor fees and deal incentives."

[allonblack] 24/7/2018 16:31

Ebiquity is seen as the auditor. People can be defensive about using it. It therefore needs a charismatic CEO who can turn that into a positive. Not a digital analyst who cant multitask or understand a cashflow.

[p1nkfish] 24/7/2018 15:48

I can understand the thought process of paying down debt and focussing on new growth but think the execution is poor. Had no one considered competition concerns? What we have just had is a bit of blather with a profit warning tagged on the end. I can't see the value of the disposal going anywhere but down. Perhaps I'm jaded.

[allonblack] 24/7/2018 13:57

I really hope Neilson do walk away. Group cashflow will be 6m and this thing should fly. CEO needs to look at his cashflow a bit more. Idiot.

[boonkoh] 24/7/2018 08:08

CMA in no rush to make decision. Does Nielsen have a right to walk away if sales keep deteriorating in Intel? Also likely CMA will want some concessions for merger, so that could also cause Nielsen to walk away.Good to see remaining business growing well. Debt should also be less than £28m now, but odd there was no mention of this in RNS?

[allonblack] 24/7/2018 07:06

The stock is trading at these levels because the CEO is clueless as evidenced by the share price decline from the moment he joined. When the new Chairman finally does his job and steps in for shareholders it will be a cheap stock.

[p1nkfish] 19/7/2018 21:35

Well someone has had enough.