Ffi Share Discussion Threads

[stemis] 03/7/2019 11:11

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.

[epo001] 03/7/2019 10:31

This seems like a stitch-up to me. The price gets driven down then a buyer appears.

But if I hang on and there is ultimately a legal challenge then I might get more. If I sell out now I would not.

[epo001] 03/7/2019 10:06

Could sell my holding on iweb for 24.8p. Hmmm ...
Edit: a share that is!

[stemis] 03/7/2019 09:44

As per normal buywell got some flack on here when he posted this on 22nd Nov 2018

Mostly because it was nonsense...

[fozzie] 03/7/2019 09:31

I get my money back which is good but I had hoped for more. C'est la vie.

[epo001] 03/7/2019 09:25

My average purchase price was 29.13p. Currently the spread is 24/26, at the moment the extra 1p is worth hanging on for.

Another lesson learnt about AIM, do even more homework.

[stemis] 03/7/2019 09:20

FFI floated two years ago at £1.50 so a takeout like this at 25p does not feel like a positive ending for most who have invested here.

I doubt many holders here bought at 150p.

[buywell3] 03/7/2019 09:02

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

[davidosh] 03/7/2019 08:54

FFI floated two years ago at £1.50 so a takeout like this at 25p does not feel like a positive ending for most who have invested here.

[masurenguy] 03/7/2019 07:55

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.

[cyberbub] 02/7/2019 23:37

Wow that's a surprise announcement, after-hours US-style!I was just geeing myself up to buy a few shares too, with a view that it was likely to be worth 40p soon.25p seems far too cheap, but it seems like it's been done as a fait accompli. As is usual in these cases I expect the CEO will keep his well-paid job etc.Well done to those who had the bottle to buy at 12p anyway.

[monster500] 02/7/2019 20:54

SOLD SHORT BY THIS BOARD. Well done:(

[ronwilkes123] 02/7/2019 18:47

Question is who owns the 777 group

[epo001] 02/7/2019 18:28

It about halves my loss, could be worse. Any chance of this becoming a bidding war or is it game over?

[horndean eagle] 02/7/2019 18:18

Did feel as though something fishy were afoot as per cyberbub. Some poor suckers got taken advantage of by bent insider traders with trades at 19p today.

[cottoner] 02/7/2019 17:36

Mandatory offer @ 25p

[stemis] 01/7/2019 21:34

It's to do with acquisitions. 2017 comparatives were largely completion contracts plus a bit of editing equipment rental. 2018 includes acquisitions in technical services, insurance agency, content distribution and editing equipment rental. The impact of acquisitions on admin expenses is about £10m - see note 3 to the accounts.

[cyberbub] 01/7/2019 18:24

Does anyone who's been holding FFI for a while have any info about my post 2243? Thanks.

[stemis] 27/6/2019 12:21

Looking at the disclosure of the significant shareholders on the company web site, there seems to have been quite a churn in the sub 5% holders. Hopefully this means quite a lot of the loose holders/determined sellers have gone.

[tallprawn] 27/6/2019 11:23

L2 is firming up a bit now. A few more buyers to create some momentum and this could be interesting...

[tallprawn] 27/6/2019 08:37

This could jump from current share price levels on any slither of good news. It's rightly taken a beating over the last 12 months but that's all priced in now imo. I have a speculative position - The reward potential here is high. GL all.

[tsmith2] 27/6/2019 08:26

a bit of volume here.

[cyberbub] 06/6/2019 23:06

Just looking in here. While the value seems good, the last half year results look very odd, with admin costs of $23M for the half year!!... Doubled from the comparator period!! WTF? Can anyone shed any light? What do they include in 'admin'? Do they have very lumpy costs as well as revenues?