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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Freedom4 Comm. | FFC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 17/9/2008 15:25 by ekuuleus Hi, long time no seeI sold all pipex before becoming FFC Whats the story? Up or down |
Posted at 12/8/2008 19:03 by newmoody It's a good job that the room is empty as I'm no good at public speaking. Seems everybody has rushed off to FFG . Now all on FFC know - even me! New. |
Posted at 08/8/2008 07:00 by failedqs "Shares" Mag has recommended FFC as a BUY this week....... |
Posted at 06/8/2008 15:00 by failedqs What has happened to FFC?.... Has the price really stayed unchanged for about a month now, with absolutely no movement either way ? |
Posted at 10/7/2008 07:36 by ps0u3165 FFC has disappeared off my monitor after showing no trades or info yesterday, is this down to the name change? I have tried a search with the new name however this comes up as unknown. Any suggestions, TIA. |
Posted at 08/7/2008 13:12 by gerri-c ..."FINANCIAL TIMES Gartmore rumoured to have bought 9% holding in Freedom4 (FFC) from M&G"........ |
Posted at 06/7/2008 14:53 by bamboo2 troys spights, good luck with ffc. hope you still watching his other interests...so whats dubens up to? ocl down over 10% since formation, despite forecasting increases of 25%/yr just bought a co involved in derivatives called monument. buffet quote"...In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." |
Posted at 04/4/2008 21:58 by veryoldbob Still can't get a handle on the value of the business post tender. On paper it should be more than the current share price but I think the fundamentals are scaring the market.Without the business and hosting divisions, there's simply no money coming in. FFC's share of the WiMAX losses were £1.8M for the year ended 31/12/07; the license fee is £0.8M a year; the last year for which we have full accounts (2006) had director's fees, salaries and bonuses running at another £1.8M a year. FFC have stated they'll transfer US$7.7M in Q2 2008 to the JV and a further US$6.6M as needed. The current cash reserve will be burnt through pretty quickly at that rate and that's without the huge investment a WiMAX rollout will take. There's no guarantee the whole amount in escrow from the Tiscali deal will be paid - the price paid fell from £210M to £183M - Tiscali may yet claw more back. Similarly there was a clause in the sale to OCL for "adjustments" - after the reduction in the Tiscali payout, who wants to bet that won't be reduced as well? With no prices for the Machester roll-out (suggesting no customers yet), no news on the license variation, and the current roll-out of unbiquitous wireless broadband from the mobile telcos, I'm not surprised at the current price. A few bits of good news could change all this of course but they've been thin on the ground lately... |
Posted at 04/4/2008 17:21 by varies bubfaceI am with you here but was foolish enough to reach for the falling knife first thing yesterday morning and bought some FFC @2.94p. It is not often that one loses 30% of one's investment within the day ! A price of 3p seemed very cheap and I shall probably average down next week if I can buy at under 2p. I have made good profits twice before on Pipex and and am not too upset by getting this company wrong the third time round (and again if I count FFC). The WIMAX concept has long appealed to me as I live in deepest Shropshire where a telephone connection capable of carrying Broadband has only recently become available. I am not fond of BT and would far sooner not depend on their facilities. It is discouraging to read on other posts that FFC may have the wrong wavelengths but we shall see. |
Posted at 02/4/2008 07:44 by bubface April 1, 2008 Freedom4 Communications Plc (FFC.L)Goldman Sachs Global Investment Research 1 April 1, 2008 ACTION Removed from Pan-Europe Buy List Freedom4 Communications Plc (FFC.L) Viability of WiMax uncertain; downgrade to Neutral What happened We are removing Freedom4 from the Buy List and downgrading to Neutral following the agreed sale of its hosting and network services businesses. After distribution of £156.9 mn in proceeds from disposals, the company is expected to retain cash and receivables of £38.6 mn and a 52% share in a WiMax JV which has yet to prove its commercial viability. On this basis, we downgrade to Neutral. The shares are down 14.3% since being added to the List on January 16, 2008, vs. FTSE World Europe up 0.3% (over 12 months -56.9% vs. -7.2%). On a sector-relative basis, the shares are down 4.6% since being added to the Buy list. Growth Returns * Multiple Volatility Volatility Multiple Returns * Growth Investment Profile: Freedom4 Communications Plc Low High Percentile 20th 40th 60th 80th 100th * Returns = Return on Capital For a complete description of the investment profile measures please refer to the disclosure section of this document. FFC.L Europe Telecom Services Peer Group Average Current view The company plans to return £156.9 mn to shareholders and retain net cash resources of £38.6 mn (£18.6 mn cash plus £20 mn loan notes). The remaining business is a 52% stake in a WiMax JV with Intel Capital. This will require additional funding which, in our view, is likely to utilize the remaining cash balance and potentially more. The company has committed to return to shareholders the proceeds of the loan notes once received. For completeness, we are making 2H2007 forecast revisions to the web hosting and network services businesses; however, these do not impact our valuation of the continuing operations. Our sum-of-the-parts valuation gives a 12-month price target of 7.5p. The stock is currently trading around the value of the distribution and given we assume the remaining cash will be utilized by the WiMax operation, the remaining upside to our price target is derived from the loan notes receivable in 18 months. Downside risks include competition from increasing DSL speeds and low cost economics for local loop unbundling, together with more attractive pricing and increasing speeds in mobile broadband. Upside risks include a faster than expected roll-out of the network providing scalability ahead of expectations. INVESTMENT LIST MEMBERSHIP Neutral Coverage View: Attractive United Kingdom: Telecom Services Key data Current Price (p) 7.11 12 month price target (p) 7.50 Upside/(downside) (%) 5 Market cap (£ mn) 170.4 Enterprise value (£ mn) 200.2 12/06 12/07E 12/08E 12/09E Revenue (£ mn) New 294.4 74.1 81.3 97.8 Revenue revision (%) 0.0 3.9 (1.5) (0.2) EBIT (£ mn) New (7.9) (7.2) (4.1) 0.5 EBIT revision (%) 0.0 (13.1) (202.6) (86.9) EPS (p) New 0.05 (0.50) (0.06) 0.18 EPS (p) Old 0.05 (0.41) 0.12 0.38 EV/EBITDA (X) 15.1 58.1 14.8 8.6 P/E (X) 230.8 NM NM 39.5 Dividend yield (%) NM NM NM NM FCF yield (%) 2.2 (4.2) (1.9) 2.6 CROCI (%) 13.3 1.2 2.5 |
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