Immotion Share Discussion Threads

[babbler] 07/2/2023 17:13

Yet you hold on for dear life. Most would have cut losses by now with that attitude and moved money elsewhere to make it back. Or at least had a nice telephone conversation with the CEO. Have you tried that? Discuss your issues with them? Guessing no....

[hatfullofsky] 07/2/2023 15:44

China is LBE, no more licence fees for Let's Explore.

3p we "may" get back, MH has stated he'll look at options if the share price does not perk up. IMO probably in the form of a tender offer or share buy back.

1.9p is the value of the remaining cash. Zero value attributed to the HBE business. I would think 5.5p would be fair value.

[napoleon 14th] 07/2/2023 12:24

A few questions:

Where does that leave us with the deal in China?
Repeat revenue on a commission basis seems alluring.
I hope we keep this and work with China on content.
I don't know the exact terms of that contract.

I hear that deal's going to put 5p cash/share, 3p of which we get back?
OK, so what is Higginson going to do next? Plans for HVE?
The weathervane changes in direction in IMMO are becoming legend which is no
comfort for us...

[hatfullofsky] 06/2/2023 21:37

Yes indeed, you have to register to get the content (I bought one during lockdown to test it out) so they have 60k+ contacts that the can cross sell / up sell. It's not massive but it's more than nothing, which is what the market is currently valuing it at.

[bennywin] 06/2/2023 20:58

All pie in the sky as for future prospects .

Until we hear how the last quarter lBE sales went, my 3 mill vote for what it’s worth is no.

As for Vodiac, it’s basically rubbish imo . The QVC sales pitch is good though.

As a customer , all this coming soon, extra videos rubbish etc paints the picture of why I struggle to believe too much of what they say.

[yump] 06/2/2023 16:23

I'd prefer the chances of a long term growth in LBE, than crystallising an immediate loss.

That seems pretty simple to me.

Depends what interest you have and when and why you bought.

Mind you, having possible growth taken away by PE is nothing new. The problem has been valuations in the market, which are well below what new floats, even startups, are normally valued at.

In some ways its surprising that there has not been a flood of PE taking over businesses with trashed share prices, that are actually making decent progress in the business itself.

PE would not be interested in this, unless its derisked, which imo has happened with the Merlin contract, regardless of what spin is put on it about dodgy consumer environment.

Note, that has not been mentioned at all before, which is why I think its spin. Surely if the environment is iffy for LBE, which is a one-off thrill a year for many people, then its also iffy for selling HBE.

[yump] 06/2/2023 16:20

btw the installed user base only has a value if you can resell to them in some way.

[mcfly79] 06/2/2023 11:24

Based on the figures I think the shareholder return may be 3.1-3.2p per share.

[hatfullofsky] 06/2/2023 10:32

The choice is simple to me, do you want certainty or do you want un-certainty.

It's a no brainer, along with the 3p returned, we'll have a company (Lets Explore (Benny)) with Revenues of £2.5m, cash in bank of 6.5m and an installed user base of 60,000 units. On a valuation of cash only.

HBE 2022 30,000 units sold in a couple of trials
HBE 2021 28,000 units sold in H2

[yump] 06/2/2023 09:10

I’m sure everyone that bought recently is over the moon, but the rug is being pulled from a load of other investors who bought because of the LBE business model, not to be involved in another startup.

I suppose a smaller loss is the best option.

A name change for the HBE would be good, with a flurry of publicity and get a load more punters investing, then can perhaps get out closer to break even.

[mcfly79] 06/2/2023 09:04

I've been buying recently because I thought they could get to around 5p over the next 2 years based on their forecast growth. (Based on getting to a value of 6-7 times 2024 EBITDA).This deal gets there immediately. I don't think they are leaving much value on the table. I think it's a very good deal.Add in macro uncertainty and I think it's a great deal.If you're in favour of the deal I'd encourage everyone to vote.

[mcfly79] 06/2/2023 08:36

Added some last week and added another 382k this morning.The vote is almost certain to go through.The share price was 2.2p before the news. The cash coming in is over 200% of that figure.It's just an ordinary resolution so they need 50% of the votes cast to be in favour.They have irrevocable undertakings for 31.4% of the share capital to vote in favour.It would need the same amount of shareholders to vote against (even assuming no other shareholders vote in favour). It's just not going to happen - the vote will get approved.I'm voting in favour, as are other shareholders I know.

[babbler] 06/2/2023 07:59

You do what you want. I'm just saying of you want the deal to happen then you need to vote. Wasn't telling to do anything if you don't want it. Feel free to vote against but if you do I'd sell before the news as if it doesn't happen too will see 2p again imo

[bennywin] 06/2/2023 06:58

It’s difficult to make a decision while there are no figures for the last quarters performance in the lBE division.

[yump] 05/2/2023 20:43

No I won’t and don’t tell other shareholders what to do.

[babbler] 05/2/2023 18:16

The discount here is purely down to the risk of shareholders rejecting the deal. That is always a possibility. If you hold shares make sure you vote for the deal using a proxy form you can ask for from the company.

[mcfly79] 04/2/2023 18:53

The cash is due on completion, other than a small portion that will remain outstanding as a loan note payable in 12 month time. Amounts are as follows: Cash due on completion: $23,961,739 = £19.9m = 4.78p/share Loan note payable in 12 months: $1,250,000 = £1.0m = 0.25p/share The total due is now just over 5p/share (up from 4.9p) due to USD strengthening a lot in the last few days. Based on the current f/x rate we now will receive £20.9m in total rather than the £20.5m figure given in the release. The releases have stated that the GBP cash following completion is subject to exchange rate fluctuations, so I doubt they have hedged the USD proceeds. Rate have gone our way.

[mcfly79] 04/2/2023 12:59

GM to approve is on 21 FebExpected completion of the transaction is on 22 FebTimetable is on page 5 of the circular:hTTps://immotion.co.uk/wp-content/uploads/2023/02/c119999CCL_high.pdf

[hatfullofsky] 04/2/2023 12:34

Thank you for the correction Mcfly, is the 22 Feb close or an EGM to approve. I don't think they are the same

[mcfly79] 04/2/2023 11:25

The deal is expected to close on 22 Feb.

So in about 3 weeks there will be nearly 5p per share of cash in the company.

The 8-12 weeks is the timeline for payment of the 3p return to shareholders.

[hatfullofsky] 04/2/2023 09:44

5p cash valuation, closing 8-12 weeks, I feel once we close we will move to a more realistic valuation but the discount to NAV is crazy.

[itsadogslife1] 03/2/2023 14:53

Vox interview with Martin very informative. Worth a listen 20 minutes long.

[euclid5] 03/2/2023 10:38

Taking a long position via a spreadbet co, IG or SpreadEx, they told me they pay any special or normal div's on the date it goes Ex Div not on the payout date

[mcfly79] 03/2/2023 06:04

Babbler,Do you have a link to your tweet with their response on timings?Cheers