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FFI Ffi Holdings Plc

25.50
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ffi Holdings Plc LSE:FFI London Ordinary Share GB00BF04DT64 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 25.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
25.00 26.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 25.50 GBX

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Real-Time news about Ffi Holdings Plc (London Stock Exchange): 0 recent articles

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Date Time Title Posts
20/8/201907:58FFI Holdings - Flying under the radar2,291
28/3/201915:16Film Finances (FFI) ...bargain or too good to be true ?144

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Posted at 16/7/2019 10:29 by stemis
I think that because they are a concert party they won't be able to use the 90% rule to enforce a purchase of any minority. Do they really want the hassle of a load of small shareholders? Plus, of course, for Lumiere to get to 50% and control FFI, is harder when at least 38.4% of the rest aren't selling.

Today I can sell my holding at 25.05p. Note in the announcement - "Lumiere has purchased 16,953,018 FFI Shares in the market at a price of no more than 25p per FFI Share

That means someone else is buying...
Posted at 03/7/2019 11:31 by stemis
Lumiere may purchase or arrange to purchase FFI Shares otherwise than under the Offer, at the Offer Price of 25 pence per FFI Share. FFI Shareholders interested in selling their FFI Shares in cash should contact Cantor Fitzgerald Europe on +44 20 7894 7590 who have authority to make market purchases on behalf of Lumiere (subject to normal settlement).

I'm guessing it's Lumiere in the market offering to take any shares at 25p. You may wonder why they are bothering when they are making a bid.

They need 75% to delist the company. At the moment the concert party controls 68.4%. There's very little free float. Maybe they are worried they won't get enough acceptances? Personally I'll wait. They may find they need to up their offer to get what they need. 5p on the outstanding 30% or so would only cost them £2.4m.
Posted at 03/7/2019 11:11 by stemis
The Independent FFI Directors acknowledge that the Offer Price, whilst recommendable, may not fully recognise the potential shareholder value which may (or may not) be generated in the longer term following the integration of the acquisitions and the execution of the FFI Board's strategy....

Notwithstanding the above advice to FFI Shareholders, the Independent FFI Directors do however, in their personal capacity as FFI Shareholders, continue to believe in the merit and longer term potential of the Company's business and the FFI Board's strategy, as more fully described in paragraph 8 and the prospect of continuing to execute this away from the public markets in conjunction with the 777 Group, as more fully described in paragraph 12. Accordingly, the Independent FFI Directors are not intending to accept the Offer in respect of their holdings of FFI Shares...

The Lumiere Concert Party comprises Lumiere, Golden Sun, JDT, James Terlizzi, the Trattner Trust, Antony Mitchell, Timothy Trankina and Stephen Argent.

Essentially this is the board and Golden Sun planning to de-list the company and using Lumiere to offer an exit for any shareholders who want it at 25p. One of them that does is the CEO Ransohoff, who for whatever reason wants out.
Posted at 03/7/2019 09:02 by buywell3
As per normal buywell got some flack on here when he posted this on 22nd Nov 2018
his first post on this thread

See the chart below from that date to the present


buywell3 - 22 Nov 2018 - 21:00:40 - 1352 of 2259 FFI Holdings - Flying under the radar - FFI

I also look into a few things before I buy in as some have posted

advfn have the P/E for this stock at 53 which is probably wrong according to the LSE



London Stock Exchange have the P/E at 103




Re the share price fall total liabilities are increasing bigtime V falling earnings and cash flow from 2017 into 2018

FFI ............. 2016.. 2017.. 2018


Total Liabilities 69.25 72.41 106.05 in GDP Millions

Reported EPS ..... 0.01 0.04 0.01

Operating Cash Flow 1.60 8.75 2.52


Major Shareholders
Name Type Amount Holding %

Golden Sun Capital Management, LLC - 48,068,122 shares 30.46%
The Crystal Court Trust UDT - 47,476,547 shares 30.08%
Mr. Steven Arthur Ransohoff - 40,063,750 shares 25.51%



Golden Sun Capital Management shown as biggest holder,and Voyageur Industrial Minerals Ltd

As of March 2, 2017, Golden Sun Capital Inc. was acquired by Voyageur Industrial Minerals Ltd., in a reverse merger transaction.

Golden Sun Capital Inc.: Private Company Information - Bloomberg

As of March 2, 2017, Golden Sun Capital Inc. was acquired by Voyageur Industrial Minerals Ltd., in a reverse merger transaction.

Voyageur Minerals
Headquarters: Calgary, Canada
Founded: 2008
Subsidiary: Voyageur Industrial Minerals Ltd


Voyageur Industrial Minerals Ltd
Company
Parent organization: Voyageur Minerals

Take a look at the Mkt Cap of Voyageur Minerals









note similar name now has changed of biggest holder

Golden Sun Emerging Fund 48,068,122 30.46%



This is an overseas based fund

Golden Sun Emerging Fund Limited | ICIJ Offshore Leaks Database

Sep 27, 2016 - Bahamas Leaks Entity: Golden Sun Emerging Fund Limited.



Another development also re share price drop as reported recently...

FFI HOLDINGS SHARES DROP AS CHIEF FINANCIAL OFFICER LEAVES ROLE




FWIW IMO the chart for this share looks very grim indeed since it started over 2 year view




The moving averages tell the tale




dyor
Posted at 03/7/2019 07:55 by masurenguy
A takeout was always on the cards here but Lumiere have picked up a real baragain @25p when the price should have been at least 50% higher !

Today, Lumiere agreed to acquire 47,476,547 FFI Shares, representing 30.1 per cent. of the Total FFI Shares, from Steven Ransohoff, the CEO and executive director of FFI and The Crystal Court Trust, a trust of which Steven Ransohoff and his immediate family are the beneficiaries (the "Sellers"), at a price of 24.99 pence per FFI Share (the "Acquisition"). It is expected that the Acquisition will complete on or around the date of this Announcement. As a result of the Acquisition, under Rule 9 of the Takeover Code, Lumiere is required to make a mandatory cash offer (the "Offer") for the FFI Shares not already held or agreed to be acquired by Lumiere, at a price of 25 pence per FFI Share (being not less than the price per FFI Share being paid to the Sellers). Lumiere will make the Offer through the publication and dispatch of the Offer Document and Form of Acceptance, both of which will be posted to FFI Shareholders as soon as reasonably practicable and, in any event within 28 days after the date of this Announcement, other than to FFI Shareholders resident in a Restricted Jurisdiction.
Posted at 29/1/2019 11:42 by cottoner
Wrt a MBO it is my understanding that as long as any of these persons namely
Tim Trankina, Chief Financial Officer, Anthony Mitchell, Chief Operating Officer, and Kevin Hyman, CEO of subsidiary Pivotal Post were part of a MBO then the lowest the company could be bought out at would be 30p.

That is until the middle of June 2019.



The City Code applies to the Company. Under the City Code, if an acquisition of interests in shares were to increase the aggregate holding of the acquirer and its concert parties to interests in shares carrying 30 percent. or more of the voting rights in the Company, the acquirer and, depending on circumstances, its concert
parties would be required (except with the consent of the Panel) to make a cash offer for the outstanding shares in the Company at a price not less than the highest price paid for interests in shares by the acquirer or its concert parties during the previous 12 months.


London, 15 June 2018- FFI Holdings PLC (AIM: FFI), the leading provider of diversified services to the makers of film, TV, mini-series and online media, announces that the Company has been notified that Tim Trankina, Chief Financial Officer, Anthony Mitchell, Chief Operating Officer, and Kevin Hyman, CEO of subsidiary Pivotal Post, have exercised 765,247, 340,110 and 557,780 options respectively over ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a price of 30 pence per Ordinary Share.


That is my understanding , happy to be corrected if I am wrong.
Posted at 29/1/2019 09:46 by carcosa
That 'one person' might have been me and it is based on prior experience of a company many years ago that made cookers. That company was highly profitable but the Board backed themselves and due to the low free float forced a cheap sale.

The rationale for a MBO is this: There is a small free float ~30% from memory; less during the IPO. So existing shareholders cannot really do anything to stop an MBO offer. The company has already tapped the markets to fund the acquisitions so that's quasi free money. For whatever reason(s) the share price is ridiculously low. Therefore if existing Management and associated friends want to take the company private again then now is the time because it is so very cheap. That then gives them options; Bring another private equity onboard, take relatively large future dividends, sell off part of the company, or re-list the company in a few years at several 100% premium to current/buy-out share price.

Will it happen? Well they did say "the Board is clearly disappointed by the Company's poor share price performance since IPO and is committed exploring the options to address this issue."
Posted at 16/1/2019 17:16 by tsmith2
This post by naked investor is bang on:You guys need to do your research. This is a seriously well-regarded company. Everybody in the film and entertainment business speaks highly of Steve and FFI. Everybody. I’ve spoken to 30 people. Producers. Financiers. Competitors. FFI have such a strong franchise.re headwinds previously referred to. The core business is basically flat at best hence why they’re moving into other service lines. But the completion bond isn’t about to die (not a single insider has said that) and will be around 10 years from now. And these guys have a monopoly on the market. It’s not even like there is an airbus to challenge them. Please keep selling shares at these crazy levels so I can keep topping up. You’re nuts to invest in anything if you lack the time, resources or initiative to research the industry, the company and the people. Producers and financiers will tell you that the macro story for content is the best it’s ever been. Ever. So considering the strength of the platform (they get so much information flow) they’re extremely well positioned to benefit from the content explosion the industry is seeing.- re ebit don’t forget the amo as a result of goodwill on some of the acquisitions so it’s not a like for like.- Pandas is priced at a negative value and it hasn’t even been released in its target market (China) yet. IMAX are releasing it in March. Anything panda related has done well at the box office.- reel media is an MGA for the biggest insurer to the film and entertainment industry in north America with the longest history. That should command a min 10x EBITDA multiple. Look at the accounts - they’re expecting EBITDA of $6-11m per year! Hence the high contingency!- stop obsessing over the share price which is suffering as a result of nobody doing their bloody homework. the fundamentals are strong (macro and company level) and look at the insider ownership!- this is Hollywood’s strongest and longest franchise (think of all the producers, studios, financiers that have come and gone over the years) trading at an insanely low ebit to EV multiple of less than 4x.But guys, do what you want. Your selling benefits the insiders (I expect strong buying this month if it’s not been done already the last 3x trading days) and the investors that have done the work and can hoover up your sales.I don’t know if the share price will reflect the above anytime soon...(the market is a voting machine in the short run)...but in the long run it’s a weighing machine and these guys are a best in class franchise in a growth industry trading at an absurdly low valuation. Eventually the share price will reflect that.
Posted at 10/1/2019 00:30 by nakedinvestor
You guys need to do your research. This is a seriously well-regarded company. Everybody in the film and entertainment business speaks highly of Steve and FFI. Everybody. I’ve spoken to 30 people. Producers. Financiers. Competitors. FFI have such a strong franchise.

re headwinds previously referred to. The core business is basically flat at best hence why they’re moving into other service lines. But the completion bond isn’t about to die (not a single insider has said that) and will be around 10 years from now. And these guys have a monopoly on the market. It’s not even like there is an airbus to challenge them. Please keep selling shares at these crazy levels so I can keep topping up. You’re nuts to invest in anything if you lack the time, resources or initiative to research the industry, the company and the people. Producers and financiers will tell you that the macro story for content is the best it’s ever been. Ever. So considering the strength of the platform (they get so much information flow) they’re extremely well positioned to benefit from the content explosion the industry is seeing.

- re ebit don’t forget the amo as a result of goodwill on some of the acquisitions so it’s not a like for like.

- Pandas is priced at a negative value and it hasn’t even been released in its target market (China) yet. IMAX are releasing it in March. Anything panda related has done well at the box office.

- reel media is an MGA for the biggest insurer to the film and entertainment industry in north America with the longest history. That should command a min 10x EBITDA multiple. Look at the accounts - they’re expecting EBITDA of $6-11m per year! Hence the high contingency!

- stop obsessing over the share price which is suffering as a result of nobody doing their bloody homework. the fundamentals are strong (macro and company level) and look at the insider ownership!

- this is Hollywood’s strongest and longest franchise (think of all the producers, studios, financiers that have come and gone over the years) trading at an insanely low ebit to EV multiple of less than 4x.

But guys, do what you want. Your selling benefits the insiders (I expect strong buying this month if it’s not been done already the last 3x trading days) and the investors that have done the work and can hoover up your sales.

I don’t know if the share price will reflect the above anytime soon...(the market is a voting machine in the short run)...but in the long run it’s a weighing machine and these guys are a best in class franchise in a growth industry trading at an absurdly low valuation. Eventually the share price will reflect that.
Posted at 22/11/2018 21:00 by buywell3
I also look into a few things before I buy in as some have posted

advfn have the P/E for this stock at 53 which is probably wrong according to the LSE



London Stock Exchange have the P/E at 103




Re the share price fall total liabilities are increasing bigtime V falling earnings and cash flow from 2017 into 2018

FFI ............. 2016.. 2017.. 2018


Total Liabilities 69.25 72.41 106.05 in GDP Millions

Reported EPS ..... 0.01 0.04 0.01

Operating Cash Flow 1.60 8.75 2.52


Major Shareholders
Name Type Amount Holding %

Golden Sun Capital Management, LLC - 48,068,122 shares 30.46%
The Crystal Court Trust UDT - 47,476,547 shares 30.08%
Mr. Steven Arthur Ransohoff - 40,063,750 shares 25.51%



Golden Sun Capital Management shown as biggest holder,and Voyageur Industrial Minerals Ltd

As of March 2, 2017, Golden Sun Capital Inc. was acquired by Voyageur Industrial Minerals Ltd., in a reverse merger transaction.

Golden Sun Capital Inc.: Private Company Information - Bloomberg

As of March 2, 2017, Golden Sun Capital Inc. was acquired by Voyageur Industrial Minerals Ltd., in a reverse merger transaction.

Voyageur Minerals
Headquarters: Calgary, Canada
Founded: 2008
Subsidiary: Voyageur Industrial Minerals Ltd


Voyageur Industrial Minerals Ltd
Company
Parent organization: Voyageur Minerals

Take a look at the Mkt Cap of Voyageur Minerals









note similar name now has changed of biggest holder

Golden Sun Emerging Fund 48,068,122 30.46%



This is an overseas based fund

Golden Sun Emerging Fund Limited | ICIJ Offshore Leaks Database

Sep 27, 2016 - Bahamas Leaks Entity: Golden Sun Emerging Fund Limited.



Another development also re share price drop as reported recently...

FFI HOLDINGS SHARES DROP AS CHIEF FINANCIAL OFFICER LEAVES ROLE




FWIW IMO the chart for this share looks very grim indeed since it started over 2 year view




The moving averages tell the tale




dyor
Ffi share price data is direct from the London Stock Exchange

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