Share Name Share Symbol Market Type Share ISIN Share Description
Gfinity Plc LSE:GFIN London Ordinary Share GB00BT9QD572 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.025 -2.22% 1.10 2,326,040 10:25:38
Bid Price Offer Price High Price Low Price Open Price
1.05 1.15 1.125 1.075 1.125
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 7.87 -12.06 -0.04 6
Last Trade Time Trade Type Trade Size Trade Price Currency
12:19:59 O 420,000 1.1375 GBX

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Gfinity Daily Update: Gfinity Plc is listed in the Media sector of the London Stock Exchange with ticker GFIN. The last closing price for Gfinity was 1.13p.
Gfinity Plc has a 4 week average price of 0.30p and a 12 week average price of 0.30p.
The 1 year high share price is 6.80p while the 1 year low share price is currently 0.30p.
There are currently 536,402,920 shares in issue and the average daily traded volume is 15,497,261 shares. The market capitalisation of Gfinity Plc is £5,900,432.12.
timbo003: I acquired a few in the placing, but was scaled back to 60%. The warrants are handy to have, but they will act as a bit of a brake on the share price if business starts looking up.
mcfly79: Not the best placing price but I guess the share price was 0.3p less than 2 weeks ago.
hazl: Wow this company has suddenly started to behave!
jforshaw1953: Very possibly. Margin improving, stream of good news about the potential, still recruiting and yet its down down down on the share price
czar: Gents this is a placing, we all know the share price has to fall below the placing price to flush out the loose holders, it happens every time. If this gets down to 3.5p I will top up, otherwise lets see where we are trading in three months when the punters are out.
jungmana: Ileeman , this is a good investment at this level. I think the slight concern is their cash burn due to the nature of the business. But I agree is just a matter of patience for the company to attract the investor crowd and share price to recover.
timbo003: >>>22350220 Thanks for the heads up on the MM recommendation, it is always helpful to know what is behind a rise (or fall) in a share price when no news has been announced. Good luck with your new investment.
timbo003: Irrespective of whether this morning's announcement has any effect on the share price, it should definitely increase mainstream awareness of e-sports in general and specifically Gfinity's Elite series.
timbo003: The placing was first offered around the broker circuit at 14p (soon after the Microsoft announcement). I heard about it on April 11th but declined the offer to participate as it was not EIS qualifying and I wasn't sure whether Charles Street would invest. There was no way I would have invested unless Charles Street were following their own money (remember, we got screwed by them in the last placing at 5p) The company were obviously surprised by the share price action soon after then and so presumably went about renegotiating the terms. I am relieved to see that Charles Street are participating, had they not, the Chairman (Tony Collyer) would have got both barrels from me (again) at the next AGM.
timbo003: As posted on the ShareSoc AGM forum..... This year’s Gfinity AGM was held on Tuesday 20th December commencing at 10.00 at the company Solicitor’s HQ (Fladgates, 16 Great Queen Street, WC2B 5DG). For Investors who are unfamiliar with the company, Gfinity is an AIM listed esports business that provides a hub for the global community who compete against, or view on-line competitors playing a range of best-selling electronic games such as “Call of duty” and “League of Legends”. Gfinity listed on AIM during December 2014 at 17p/share, raising £3.5m which valued the company at around £13m. Since the IPO there have been two placings: the first at 20p/share (Nov 2015); the second at 5p/share (July 2016). The company is currently valued at around £20m with a share price of 13.5p (mid). Gfinity is currently loss making, The house broker (Allenby) forecasts on November 8th suggested that the company should achieve its first full year profit for year ending June 2019 (0.56p/share) without the need for further equity funding. On November 17th Allenby issued a new note suspending earnings forecasts, (this followed Gfinity’s announcement concerning the Elite series), the broker stated “that the series represents a major investment for Gfinity and commercialisation is at an early stage. As a result we are suspending our forecasts until proof points start to emerge” Links to Gfinity’s main gaming web site, main investor web site, the Annual Report, the AGM resolutions and the recent Broker notes are here: Gamer's Web site Corporate Web site Annual Report AGM Proxy form Allenby Research Notes There were around 12 attendees at the AGM including the Board of Directors and the usual AGM functionaries (Broker, PR and Registrar), I was the only ordinary shareholder present. The Chairman (Tony Collyer) opted to begin with questions before moving on to the formal resolutions, so I duly obliged My questions mainly centred around the last fund raising in July which was a heavily discounted placing at 5p/share. The directors did not need reminding that I had attended the general meeting at the end of July (which was held in order to seek shareholder approval for the placing) and that I had voted against both the resolutions at the previous meeting (my notes from the GM meeting in July are attached). Q: Could you please go over the rationale for why you went for such a large discount for the placing in July, the placing was oversubscribed, therefore you should have adjusted the price upwards so demand matched supply, rather than demand exceeding supply. A: The cornerstone investor (Charles Street) would not negotiate on the price (5p) or the percentage of shares they should own post placing (29.9%). We wanted them on board, they are well connected in the industry and will help the company develop. Q: That is a lame excuse, you are rubbish negotiators. The non-execs should be looking after all shareholder’s interests, on this occasion they have failed to do that, unless you can come up with a more convincing reason I will be voting against both non-execs who are up for re-election this year A: I can understand why you would want to vote against the NEDs, although note that one of the NEDs up for re-election (Jonathan Varney) currently takes no remuneration for his services. Q: Should you need to conduct another fund raising, it should preferably involve an open offer to accompany a placing, should that not be possible for any reason, could you please ensure that at least existing shareholders who have supported the company in previous fund raisings are given the opportunity to participate, I know of several other AIM listed companies that have taken steps to do this in the recent past. A: If we do raise further funds we will try to involve existing shareholders, but we cannot give any firm undertaking to do this. Q: Could describe (on a sum of the parts basis) how revenues are currently generated, and how they might be generated in 2-3 years’ time which is when the House Broker estimates the company will achieve break even ? A: Jonathan Hall (CFO) elected to answer the question Gfinity revenue comes from 4 main activities: * Gfinity’s own events: Gfinity branded events/competitions where Gfinity exploit all commercial rights through advertising sponsorship and broadcasting * Partner events: Paid events/competitions for Games Publishers or sponsors (fee for service) * Online digital: Online tournaments for hobbyists (revenue from sponsorship and advertising) * Venue: hiring out the Gfinity arena at Fulham Broadway for events and product launches For the current financial year the revenue split might be (reading down the bullet point list above) 20% : 60% : 10% : 10% . In three years’ time there should be a big increase in revenue from Gfinity’s own events to give a revenue split of around 55% : 25% : 10% :10% (Note: I assume this includes revenues generated from the proposed investment in Elite Series) I indicated that I had no more general questions, so the Chairman moved onto the AGM resolutions. Apart from pointing out a typo in the Annual Report I had no further comments on the Annual Report or the Resolutions. When it came to the voting there were around 26m votes in favour of all 7 resolutions (which corresponded to around 17% of the total shares in issue), the only votes recorded against the resolutions were my votes against resolutions 2 and 4 (re-election of the two NEDs) and against resolution 7 (disapplication of pre-emption rights). After the meeting I realised that I hadn’t asked whether any future fund raisings were likely to be eligible for EIS/VCT tax reliefs, so I put that to the CFO who then confirmed that the company should meet all the new criteria and therefore they should still qualify. Since the meeting I have had time to reflect on whether I should sell, hold or accumulate. Given that I benefited from EIS tax relief in the IPO and the first placing, selling now is out of the question, so I will definitely hold at least until the 3rd anniversary of my purchases. I would definitely not buy in the secondary market at around the current price (such a purchase would not qualify for EIS tax relief), however if there were another funding round I would consider participating, but only if two conditions were met: * The investment would have to be EIS qualifying * I would need an assurance that the investors who took the placing shares at 5p/share were following their money and investing again. If I didn’t have these assurances, I would definitely pass. [Note this is not a verbatim record, I did not make a recording of the event)
Gfinity share price data is direct from the London Stock Exchange
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