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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Globo | GBO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 28.25 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 28.25 | 28.25 |
| Top Posts |
|---|
Posted at 16/2/2024 14:14 by joeyjojo1826 Who says crime doesn't pay? Lost a fair chunk on Globo and very disappointing to see these scumbags getting away with their crimes. An important lesson for investors to protect themselves rather than relying on the authorities. I hope Costis doesn't suffer any misfortune in the future. |
Posted at 07/11/2015 14:55 by loverat 25291Well, not actually a bad post there with some valid and interesting observations. I said previously that there is a big gap for a general campaign group of some sort to step on toes/particularly media coverage. But such a group would need to be untainted by scandal, vested interests/shorting/r Personally I think ShareSoc has a useful role in several areas and is successful within the confines of what it sets out to do. Investor events, awareness, bringing investors together and some campaigning on certain matters. But I don't think it pretends to be a PI group which will kick up a major fuss or has the militant tendency necessary to bring about the real changes needed. Likewise - nor do ShareProphets and its writers. Tainted by scandals and hypocrisy and deciding whether it is a site for a select clique of shorters/derampers - or AIM Sheriffs protecting all investors as it claims. Too many contradictions. You need a group of dedicated, honest individuals with the skills and intelligence who can look beyond the tribal behaviour and self interest of most investors and commentators and unite them behind a message. Sadly, I don't see anyone filling the gap right now. |
Posted at 02/11/2015 01:01 by davidosh ShareSoc are happy to help even if you only hold your shares/holding via CFDs or spreadbets. This is about grouping every investor with a common interest in the company and trying to establish a strong and focused group that will be able to get a number of answers to key questions and report back regularlyPersonally I do not like to see resignations by directors just at the point when all the hard work needs to be done to help investors and shareholders to understand and hopefully recover something from the situation. Why have the non executive director and company secretary resigned ? I note there has been mention of Gavin Burnell being linked to Costis in other companies. What are the AIM team at the LSE planning to do for investors as it is very unlikely a replacement nomad will be found and delisting looks inevitable ? Is an EGM needed to add shareholder action/campaign representation to the board of Globo ? What will the larger institutional investors do in this situation ? ShareSoc will certainly try to get as many answers as possible through official sources so do add your name and join the campaign. |
Posted at 01/11/2015 13:29 by loverat greepastures2Indeed - I know of many AIM directors who have taken the same route. But I still maintain that the quality of his judgement calls and motives are questionable. What I think investors need is less of this confrontational approach and to see some evidence that these so called exposures are helping everyone - rather than a few cronies. I really think someone different should take the initiative. For example, TW exposes a number of companies but has he ever looked at Andrew Bell and his companies? Someone who seems to be selective in his targets is not best placed to represent the interests of investors. He should just come out and say if ShareProphets is a shorting site or for all investors. You cannot really have something in between imo. |
Posted at 31/10/2015 18:54 by davidosh I think it is critical that those of you invested in Globo get a really strong and large group of shareholders together for a campaign and have it backed and endorsed by a shareholder organisation so this is a great start...Personally I do not like to see resignations by directors just at the point when all the hard work needs to be done to help investors and shareholders to understand and hopefully recover something from the situation. Why have the non executive director and company secretary resigned ? What are the AIM team at the LSE planning to do for investors as it is very unlikely a replacement nomad will be found and delisting looks inevitable ? Is an EGM needed to add shareholder action/campaign representation to the board of Globo ? What will the larger institutional investors do in this situation ? ShareSoc will certainly try to get as many answers as possible through official sources so do add your name and join the campaign. |
Posted at 31/10/2015 18:42 by davidosh I think it is critical that you get a really strong and large group of shareholders together for a campaign and have it backed and endorsed by a shareholder organisation so this is a great start...Personally I do not like to see resignations by directors just at the point when all the hard work needs to be done to help investors and shareholders to understand and hopefully recover something from the situation. Why have the non executive director and company secretary resigned ? What are the AIM team at the LSE planning to do for investors as it is very unlikely a replacement nomad will be found and delisting looks inevitable ? Is an EGM needed to add shareholder action/campaign representation to the board of Globo ? What will the larger institutional investors do in this situation ? ShareSoc will certainly try to get as many answers as possible through official sources so do add your name and join the campaign. |
Posted at 28/10/2015 15:53 by marben100 Globo investors may be interested in next week's ShareSoc Investor Masterclass event, which starts at 5pm on 4th November, at IG's offices in the City.One of our key topics for debate will be "Lessons for investors from events at Quindell and Globo". We've got a first class panel debating this, including private investors David Stredder, Paul Scott, Roger Lawson and Dr Paul Jourdan of Amati Global Investors. We'll also be discussing "Finding investments with multibagging potential". Judith MacKenzie of Downing LLP will join the panel (instead of Paul Jourdan) for that segment. Full details & booking information can be found here: There are only a few seats left, so act fast if you'd like to come! Mark |
Posted at 28/10/2015 10:54 by loverat Indeed - spreading the risk is a strategy that all investors should take on board.But these last few days we have seen some posters trying to convince others that there is a one size fits all strategy or you should not dabble at all in risky stocks. It all depends on what type of trader or investor you are and how you offset the downside against upside here and elsewhere. Some traders have done very well out of the chaos and movements in QPP and GBO. The other thing of course is to dismiss the other simplistic argument that the 'bears' are right and the 'bulls' are wrong. The only way people learn about investing and increase their awareness from articles and posts is when decent, objective analysts without ulterior motices start writing about companies. How many times have you read an article from ShareProphets or TMF which is factually incorrect? Investors have been let down not only by the management of the companies they invest in but by those who claim to represent their interests. As soon as investors and traders can can start getting their head past that and start thinking for themselves rather than attaching themselves to one clique or another, they will become better traders and investors. |
Posted at 27/10/2015 18:08 by bobsidian The typical private investor tends to be optimistic and orientated toward value creation. The downside is a predisposition to being blinkered toward risk.The typical short seller tends to be pessimistic and orientated toward value destruction. The downside is a predisposition to being focussed on risk. If you take the time and trouble to read in full the financial statements of a company, the risks facing its business are outlined to allow an appreciation of the nature of threats to viability. One look at the comparative index performances of the FTSE100, FTSE250, FTSE Small Cap and AIM tells a story. The significant underperformance of AIM since 2009 should be a warning to investors. It has a habit of being the graveyard for investor ambition. If you look at 2014 in isolation, two AIM stories seemed to stand out: BLNX and ASC. Both companies had meteoric share price rises in 2013 followed by catastrophic share price collapses in 2014. That kind of boom and bust performance seems to be the theme of AIM over the years. It is one of the primary reasons that serious long term long only investors stay away from AIM. Equally it is one of the primary reasons that short sellers target AIM in general and the significant share price outperformers in particular. |
Posted at 26/10/2015 11:14 by spob Short sellers in for shock treatmentSimon Thompson Investors Chronicle 5 August 2015 “When we announce details (of our acquisitions and fundraising) short sellers will be in for a surprise and it will not be a pleasant one” says Costis Papadimitrakopoulos, chief executive of Aim-traded Greek mobile software provider Globo (GBO: 42.75p). Indeed, short sellers who have driven down Globo’s share price in the fortnight since the company issued a bullish first half trading update, and which prompted the company to issue a statement last week, would be well advised to take note especially if they are basing their investment view on the contents of two defamatory articles concerning the company circulating the internet since mid-July. In fact, having interviewed Mr Papadimitrakopoulos at length yesterday, it’s time to put the record straight. Firstly, Globo’s boss points out that 90 per cent of all the cash on the company’s balance sheet, a sum equating to €82.8m at the end of December 2014, is deposited with “investment grade banks” and all of this money is fully accessible with no tax restrictions on transfers whatsoever. This is contrary to what the shorters would have you believe. In fact, the company only has €100,000 of its cash balance deposited with Greek banks, a point I made when I last published an article on the company (‘Primed for major re-ratings’, 22 July 2015). Secondly, there are sound reasons why the company has opted to raise a high yield bond to finance its acquisition strategy. For starters, Globo’s current bank facilities with Barclays and East West United Bank have 10 different covenants which it must comply with. These are quite restrictive if it’s going to significantly scale up the business by making some sizeable acquisitions. The company has a “good relationship” with these lenders, but the facilities of €65m are due to expire in October 2016 and between now and then Globo will be making capital repayments. In fact, it has already made two such payments in the past few months. True, an interest rate of Euribor plus 3.5 per cent is attractive on these current bank facilities, but by raising in excess of US$150m (£97m) through a five-year high yield bond, as Globo is trying to do right now, and with no maintenance covenants, the company is actually mitigating risk for its shareholders. That’s because any new facility with Barclays and East West United Bank would still have restrictive covenants which would be “dangerous for shareholders” if Globo pursues a substantial acquisition strategy. Although the market will ultimately decide on the pricing of the bond issue Mr Papadimitrakopoulos says the coupon rate will be “more than 8 per cent, maybe 9.5 per cent or even 10.1 per cent”. That’s a reflection of the current state of the high yield bond market, rather than Globo which has recently been given a credit rating of f BB- from rating agency S&P and B2 from Moody's. The point being that a ‘covenant lite’ bond issue priced around the upper end of that coupon rate would still be accretive for shareholders on a cash profit basis given the potential synergy benefits from acquisitions. Just as important, the company will not be diluting their interests by issuing shares to fund acquisitions. Moreover, the company’s cost of equity is far higher that the likely coupon rate on the bond, and interest payments are tax deductable against operating profits. It’s also worth noting that the plan is to refinance the acquisitions within two to three years through lower cost bank facilities and possibly an equity issue once the operational and financial benefits have materialised, so the bond funding is certainly not long-term. Also, once the acquisition strategy has proved itself, then shareholders in Globo will also see the benefit from the lower cost credit lines as more of the company’s profits will be captured by them rather than the bondholders. On the M&A trail What has not been made clear to equity shareholders, and something that the short sellers have taken advantage of, is that half the proceeds of the bond issue will be used for “acquisitions within six months, and the balance within 15 months.” The targets being looked at are located in the US, Western Europe and Australia and importantly all offer “the technology, geographic reach and people to multiply our sales into new channels”. Mr Papadimitrakopoulos is looking at paying a multiple of 10 times cash profits for acquisitions (and that’s before factoring in synergy benefits) and expects additional sales from tapping into these new channels to reap a further 20 per cent upside in cash profits. It’s also worth pointing out that by adopting this particular approach, rather than taking on the execution risk of building up an operation from scratch in new territories, Globo can accelerate the ramp up in its business and avoid incurring start-up losses in the first few years. That mitigates risk. Clearly, the company’s free cashflow of €10m (£7m) in the past 12 months is not enough to fund an acquisition spree on the scale Globo is looking at even if the company uses a large proportion of its aforementioned cash deposits to pay the consideration. True, it currently has net funds of €47.4m, up from €40.4m at the end of December 2014, a sum equivalent to almost 9p a share, but even after factoring in cash on deposit then it still needs external funding to scale up the business quickly. And that’s important because if Globo’s board want to fulfil their ambition of becoming a leading pure-play operator in the enterprise mobility management (EMM) and Mobile Application Development Platform (MADP) business segments, offering businesses solutions to expand their engagement with employees and customers through the mobile channel via a secure and extensible environment that runs on all smart devices, then strategically it needs to act now. “Tech is a fast market and you need to execute fast. You either win it or lose it” says Mr Papadimitrakopoulos. He’s in no mood to lose it. Short covering and newsflow to spark substantial re-rating It’s my strong view that if Globo pulls off its high yield bond issue, and I understand that some serious fixed income investors are considering the fundraise right now, and reveals details of its first strategic acquisitions to its shareholders, then short sellers will be scrambling to cover their positions. We shouldn’t have long to wait because we can expect news on this front “within weeks”. Indeed, the share price could be in for a very sharp re-rating because investors have ignored a bullish first half trading update that confirmed that the company is bang on track to lift EPS from 6.7p to at least 8.7p in 2015. This means Globo’s shares are being priced on a cash adjusted prospective PE ratio of 4,a valuation that fails to recognise its growing international bias and intention to make complimentary acquisitions. Bears of the stock are playing a very dangerous game. Trading on a bid-offer spread of 42.5p to 42.75p, I continue to rate Globo’s shares a buy and have a 69p target price, having initiated coverage six months ago with a conditional buy recommendation at 47p a share ('Going global', 2 February 2015). |
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