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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Metrodome Grp. | MRM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.25 | 0.25 |
| Top Posts |
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Posted at 15/6/2009 12:17 by moreforus no it means investors think substantial news is on the way - i'd love to see some director buying |
Posted at 08/6/2009 17:31 by moreforus i'll run through the numbers from the 100 page annual accounts - as boring as it sounds probably an essential read for any investor in any stock...there is a lot more detail than in the prelims i genuinely think they are now with the new owners making good headway, they've had a good set of films (didnt last year) so far in 2009 and this will benefit the other distribution channels... |
Posted at 15/5/2009 09:36 by moogee I'll wait to see what the new guys do. Can't blame you. It was a tremendously mis managed company where particular people in charge destroyed such massive amounts of investor wealth.Good luck. |
Posted at 17/3/2009 20:53 by moreforus read the announcementsThe Company is pleased to welcome Charles Peel, the co-founder of Peel Hunt, as a new investor in the Placing with Mark Webster, the Company's Chairman, and Peter Urie, the Company's Chief Executive Officer, also participating along with other new and existing shareholders. |
Posted at 30/4/2008 08:01 by ursamajorra 25 grand is not your average retail investor (mug).Insider dealing no less. |
Posted at 19/6/2007 12:23 by itmak with the recent falls - the risk to reward ratio is now in the investors favour.Personally I continue to hold and watch... little other choice |
Posted at 29/5/2007 07:16 by moreforus Metrodome Holding(s) in CompanyRNS Number:3010X Metrodome Group PLC 29 May 2007 29 May 2007 Metrodome Group Plc ("Metrodome" or the "Company") Holding in Company Metrodome (AIM: MRM), the audiovisual entertainment company, which focuses principally on the sale and distribution of films through cinema and home entertainment channels, announces the completion of a sale by its major shareholder, TV Loonland ("TVL"), of 11,200,000 shares in Metrodome. The controlling interest of TVL is now diluted from 70.6% to 61.3%. In 2005 TVL had a controlling interest of 83%. The sale is in line with TVL's stated strategy to reduce its ownership in Metrodome. The purpose of this strategy is to allow more liquidity in the trading of the Company's stock and attract new investors, in order to provide Metrodome's management team with the opportunity to grow the business going forward. The sale has no operational impact on the Company. -ends- For further information: Richard Sunderland, Rachel Drysdale, Tavistock Communications: 0207 920 3150 |
Posted at 30/4/2007 07:11 by moreforus RNS Number:7155VMetrodome Group PLC 30 April 2007 Strictly embargoed until: 07.00, 30 April 2007 Metrodome Group PLC ("Metrodome" or the "Company") Preliminary Results for the year ended 31 December 2006 Metrodome plc (AIM: MRM), the audiovisual entertainment company, which focuses principally on the sale and distribution of films through cinema and home entertainment channels, announces preliminary results for the year ended 31 December 2006. Commenting on the results Simon Flamank, Chairman of Metrodome said: "The year ending 31 December 2006 was an important year for Metrodome Group PLC as we made significant operational changes to the Company; completed the re-structuring process; and successfully started the implementation of the new business plan. "During the year the Company produced an operating loss of #678,000 (2005: #903,000 loss). The operating profit last year was #17,000 before a prior year adjustment of #920,000 in respect of an additional provision against the value of the film library included in stock. This has been incurred in a period of important and systematic change for Metrodome that should now allow the Company to move forward." He added: "Our investment in new, high quality theatrical releases for 2007 and continued expansion and roll out of titles on our Home Entertainment labels should see the Company return to profitability during 2007. In particular we are positioning ourselves to benefit from the growth in Video on Demand (VoD) which is expected to emerge fully during 2007. "We see the emergence of VoD as a real opportunity for the Company as it helps broaden the distribution base and can give us access to a market that is not readily available to us at the moment." For further information please visit www.metrodomegroup.c Metrodome Group PLC: 020 7534 2060 Simon Flamank / Peter Urie Tavistock Communications: 020 7920 3150 John West / Rachel Drysdale Chairman's Statement for Year ended 31 December 2006 The year ending 31 December 2006 was an important year for Metrodome Group PLC as we made significant operational changes to the Company; completed the re-structuring process; and successfully started the implementation of the new business plan. During the year the Company produced an operating loss of #678,000 (2005: #903,000 loss). The operating profit last year was #17,000 before a prior year adjustment of #920,000 in respect of an additional provision against the value of the film library included in stock (see note 9). This has been incurred in a period of important and systematic change for Metrodome that should now allow the Company to move forward. I joined as Chief Executive of TV-Loonland ("TVL"); currently Metrodome's major shareholder in April of 2006 and also at the same time was appointed Non Executive Chairman of Metrodome. At that time Metrodome was suffering from a number of factors that were materially affecting its trading performance. These were: i. Lack of funding for new product, resulting in a very reduced level of theatrical and home entertainment releases in 2006. ii. Poor commercial decisions in respect of the home entertainment division, which led to the Company entering into a cover mount deal in early 2006, which materially affected trading relations with key UK retailers in the first half of 2006. iii. An ambiguity about the ongoing intentions of TVL, the largest shareholder, with regards to its shareholding. Last year we announced that it is TVL's decision to reduce its ownership in Metrodome, thereby allowing more liquidity in the stock, attracting new investors all of which should enable the new management team the opportunity to grow the business going forward. At the AGM in July we gained approval for an increase in the authorised share capital of the Company, giving it the ability to issue new shares, as and when needed, to fund further growth. In September we successfully raised a net #825,000 of additional working capital via a private placing. This additional working capital generated the cash flow necessary to prepare the Company for the first phase of future growth. As a result of this private placing the Company has attracted new shareholders resulting in an increased number of shares in the market. At the same time we were able to discharge a significant loan and accumulated interest (#1,122,000) back to TVL as part of this placing, by way of a debt for equity swap. The controlling interest of TVL was then diluted from 83.0 % to 70.6 %. Subsequent to the year end TVL has further diluted its holding to 61.3% I am delighted to report that the management team was strengthened further by the appointment in November of Steve Winetroube who joined us as Finance Director, replacing Elaine Edwards who had advised us earlier in the year of her intention to pursue her own interests once we had found a suitable replacement. I would like to thank Elaine for all her hard work during her time with the Company and wish her well for the future. The management team continues to be led by Peter Urie, who was originally appointed as Managing Director in August 2005 and who, since September last year, is the CEO of the Company. In December the Company completed a capital reduction which eliminated the deficit on the Company's profit and loss account, thereby bringing closer the prospective date on which a dividend payment could be made to shareholders. Cost base The Company is constantly reviewing its operating structure and cost base and identified that there was an opportunity to substantially reduce its occupation costs by relocating from its managed premises in Charlotte Street, London to new, better equipped offices in Dean Street, London, which it now shares with its sister companies TV Loonland UK and Telemagination. This move was completed in December 2006. Operating performance 12 months % of 12 months ended % of Variance ended Turnover 31 Dec 05 Turnover Year on 31 Dec 06 % #'000 % Year #'000 % Sales Theatrical 87 2.3% 396 9.9% -78.1% Non Theatrical 82 2.2% 40 1.0% 105.0% Television 115 3.1% 276 6.9% -58.3% Rental 220 5.9% 243 6.0% -9.4% DVD Sell Through 3,234 86.3% 3,018 75.2% 7.2% VHS Sell Through 9 0.2% 39 1.0% -77.5% -------------------- 3,747 100.0% 4,012 100.0% -6.6% -------------------- We released fewer theatrical titles in the year than we would normally expect to do in the future, as a consequence of the lack of availability of adequate funding. Television sales proved a very good source of sales revenue with sales of 'Donnie Darko' and 'Help I'm A Fish' to Satellite channels and 'Tell Them Who You Are' and 'Hearts and Minds' to Terrestrial Channels. A major theatrical release for 2007, 'Days of Glory' has also already been sold to a Terrestrial Channel. Rental sales were also strong with both 'Shooting Dogs' and 'Flight 93' followed closely by 'Pretty Persuasion'. We have also achieved sales revenues from airlines for showing our films "in-flight" and similarly with some cruise ship companies. The DVD market proved quite challenging with price points in particular being driven downwards by both the major studios and the continued cover mount activity with newspapers which effectively devalued product. 'Flight 93' proved to be one of the most successful straight to DVD titles the Company has ever released. Other strong DVD titles were 'Shooting Dogs', 'Saints and Soldiers' and 'Pretty Persuasion'. We also successfully launched our In2Film budget titles label and Mini Metro children's budget label. All budget titles will now be managed in-house as part of the new business plan. Although the initial sales from the two budget labels in Quarter Four were below our expectations, we remain confident that as we build the growing library of titles in our catalogue, both of these new budget labels will become well established revenue streams going forward. Outlook Our investment in new, high quality theatrical releases for 2007 and continued expansion and roll out of titles on our Home Entertainment labels should see the Company return to profitability during 2007. However the marketplace continues to change and we are positioning ourselves to be able to benefit from the growth in Video on Demand (VoD) which is expected to emerge fully during 2007. We see the emergence of VoD as a real opportunity for the Company as it helps broaden the distribution base and can give us access to a market that is not readily available to us at the moment. We have therefore signed non exclusive distribution agreements with most of the major VoD companies and we are already generating income from VoD activity and are constantly monitoring the market looking for the major players to emerge. Although internet download speeds are improving, the technology is not yet sufficiently advanced to allow real-time downloads, however it is likely to gain increasing importance in the distribution market during 2007. Many forecasters believe this part of the market will lend itself better to back catalogue and niche releases than mainstream blockbuster releases which should play to Metrodome's strengths. After a very disappointing financial result for 2006, we believe that, with the operational changes that we have made, we are entering 2007 with a Company that is well positioned to grow in both its traditional markets and also exploit the new market opportunities, which we believe will present themselves during the year. Prior Year Adjustments 1) Value of the film library included in stock figure We have reviewed the basis upon which the previous management had used to consider the impairment in the value of the film library shown in the balance sheet and believe that the library was overvalued in 2005, in as much as it did not fully take account of the titles that were unlikely to recover their initial minimum guarantees and therefore should have been impaired. We have now re-performed this exercise and believe that the previous year figures were therefore overstated by #920,000. 2) Deferred shares In the financial statements for the year ended 31 December 2005 the 9p deferred shares were at the time classified as liabilities in accordance with FRS25. In accordance with FRS25 these deferred shares have now been reclassified as equity in the comparative figures in this year's financial statements. The deferred shares were cancelled in December 2006. 3) FRS20 The Company has adopted FRS20 Accounting for share based payments for the year ended December 2006 which has resulted in a charge of circa #16,000 for the year. There is no equivalent charge necessary for the year ended December 2005. Library value in balance sheet The library value as shown in the balance sheet of #3,400,000 included in the #3,671,000 stock figure is now calculated in accordance with current accounting standards. Management however believe that according with accounting standards does not reflect the true value of the library. We have therefore arranged for an independent valuer to conduct an exercise to value the library in accordance with its future revenue earning capacity and this independent valuation estimates the value of the library at approximately #5.5 million, which is circa #2.1 million in excess of the figure disclosed in the balance sheet. Simon Flamank Chairman 30 April 2007 Unaudited Consolidated Profit and Loss Account For the year ended 31 December 2006 Year ended Year ended 31-Dec-06 31-Dec-05 Restated Notes (Unaudited) (Unaudited) #'000 #'000 Turnover 3,747 4,012 Cost of sales (2,441) (3,129) -------------------- Gross Profit 1,306 883 Other operating income 135 - Administrative expenses (2,119) (1,786) -------------------- Operating Loss (678) (903) -------------------- Loss on ordinary activities before interest (678) (903) Interest payable (96) (114) -------------------- Loss before taxation (774) (1,017) Taxation - - -------------------- Loss after taxation 8 (774) (1,017) -------------------- Earnings per share Basic and diluted 2 (0.9p) (1.4p) Unaudited Consolidated Balance Sheet As at 31 December 2006 31-Dec-06 31-Dec-05 Restated Notes (Unaudited) (Unaudited) #'000 #'000 Fixed assets Intangible - 23 Tangible 67 54 -------------------- 67 77 -------------------- Stock 3,671 3,760 Debtors - due within one year 1,581 1,873 - due after one year 28 135 Cash at bank and in hand 123 2 -------------------- 5,403 5,770 Creditors Amounts falling due within one (2,878) (4,444) year -------------------- Net current assets 2,525 1,326 -------------------- Total assets less current 2,592 1,403 liabilities -------------------- Creditors Amounts falling due after more - - than one year -------------------- Net assets 2,592 1,403 -------------------- Capital and reserves Called up share capital 7 1,207 2,631 Share premium account 8 2,581 5,128 Share option reserve 8 16 - Profit and loss account 8 (1,212) (6,356) -------------------- Shareholders' funds 6 2,592 1,403 -------------------- Unaudited Consolidated Statement of Total Recognised Gains and Losses For the year ended 31 December 2006 Year ended Year ended 31-Dec-06 31-Dec-05 Restated Notes (Unaudited) (Unaudited) #'000 #'000 Loss for the financial year (774) (1,017) -------------------- Total recognised gains and losses relating (774) (1,017) to the year ---------- Prior year adjustment - stock provision 9 (920) ------------------ Total recognised gains and losses (1,694) recognised since last annual report ------------------ Unaudited Consolidated Cash Flow Statement For the Year ended 31 December 2006 Year ended Year ended 31-Dec-06 31-Dec-05 Restated Notes (Unaudited) (Unaudited) #'000 #'000 Net cash in/(outflow) from operating 4 21 (489) activities Servicing of finance Interest paid (96) (114) Capital expenditure and financial investment Purchase of tangible fixed assets (45) (27) -------------------- Cash outflow before financing (120) (630) Financing Net proceeds from issue of ordinary share 825 - capital -------------------- Increase/(decrease) in cash in the period 705 (630) -------------------- Reconciliation of net cash flow to movement in net debt Increase/(decrease) in cash for the period 705 (630) Conversion of parent company debt for 1,122 - equity Interest charge (52) (73) -------------------- Movement in net cash/(debt) 1,775 (703) Net debt at start of year (1,785) (1,082) -------------------- Net debt at 31 December 2006 5 (10) (1,785) -------------------- Notes to the Accounts For the year ended 31 December 2006 1. Preparation of the accounts The unaudited results for the twelve months ended 31 December 2006 have been prepared on the basis of the accounting policies set out in the audited accounts of the Group for the year ended 31 December 2005, save for the adoption of Financial Reporting Standard 20 in the period as described below. The financial information presented above does not constitute full accounts within the meaning of section 240 of the Companies Act 1985. Statutory accounts for the year ended 31 December 2006, will be reported on by the Group's auditors before distribution to shareholders and filing with the Registrar of Companies. Change in accounting policy The Group has adopted FRS 20 Share Based Payments in the current year. FRS 20 requires the recognition of a charge for share based payment transactions which include share options granted to employees. This has created a share option reserve as at 31 December 2006 of #16,402 and increased the loss by #16,402. This change in accounting policy has had no effect on the prior year ended 31 December 2005. 2. Loss per share The loss per share is based on the consolidated loss of #774,000 (2005: #1,017,000) after taxation and the weighted average number of shares in the period of 83,661,636 (31 December 2005: 71,309,543). Basic and diluted earnings per share are the same as there are no potential ordinary shares that would increase net loss per share from continuing operations in the period. 3. Dividends As in prior periods the directors are not recommending payment of a dividend. 4. Net cash flows from operating activities Year ended Year ended 31-Dec-06 31-Dec-05 Restated (Unaudited) (Unaudited) #'000 #'000 Cash outflow from operating activities Operating loss (678) (903) -------------------- Adjustments for non cash items Depreciation of tangible fixed 32 32 assets Amortisation of intangible fixed 22 2 assets Share based payment expense 16 - Decrease in stocks 89 482 Decrease in debtors 399 350 Increase/(decrease) in creditors 141 (452) -------------------- Net cash in/(outflow) from 21 (489) operating activities -------------------- 5. Net Debt Cash at bank and in hand 123 2 Bank overdrafts - (584) -------------------- 123 (582) Debt due within one year - loan (133) (1,203) from parent company -------------------- Net debt (10) (1,785) -------------------- 6. Reconciliation of movement in shareholders' funds Loss for the financial year (774) (1,017) Net proceeds from issue of ordinary 825 - share capital Conversion of parent company debt for 1,122 - equity Share based payment expense 16 - -------------------- Net increase/(decrease) in 1,189 (1,017) shareholders' funds -------------------- Opening shareholders' funds as 405 2420 previously reported Prior year adjustment - stock (920) - provision Prior year adjustment - deferred 1,918 - shares -------------------- Opening shareholders' funds as 1,403 2,420 restated -------------------- Closing shareholders' funds 2,592 1,403 -------------------- 7. Share Capital 1p Ordinary 9p Deferred Share Capital Share Capital Number #'000 Number #'000 Authorised: At 1 January 2006 308,210,783 3,082 21,309,967 1,918 (restated) Increase/(decrease) in 291,809,217 2,918 (21,309,967) (1,918) the year -------------------- At 31 December 2006 600,020,000 6,000 - - -------------------- Allotted, issued and fully paid: At 1 January 2006 71,309,543 713 21,309,967 1,918 (restated) Increase/(decrease) in 49,408,372 494 (21,309,967) (1,918) the year -------------------- At 31 December 2006 120,717,915 1,207 - - -------------------- 8. Reserves Share Share Profit Premium Option and loss (Unaudited) (Unaudited) (Unaudited) #'000 #'000 #'000 Balance at 1 January 2006 as 5,128 - (5,436) previously reported Prior year adjustment - stock - - (920) provision -------------------- Balance at 1 January 2006 as restated 5,128 - (6,356) Net proceeds from ordinary shares 1,453 - - issued in the year Cancellation of deferred share - - 1,918 capital Reduction of share premium reserve (4,000) - 4,000 Share based payment expense - 16 - Retained loss for the year - - (774) -------------------- Balance at 31 December 2006 2,581 16 (1,212) -------------------- 9. Prior year adjustments Stock - Value of the film library The prior year adjustment arises due to the value of the film library included in stock being overstated in the year ended 31 December 2005. The directors consider that the value of the film library was overstated by #920,000 due to insufficient provision for slow moving stock. Deferred share capital The prior year adjustment is the result of the fact that the deferred shares were incorrectly reclassified as liabilities in the year ended 31 December 2005. The directors consider the deferred shares do not meet the definition of a financial liability in accordance with FRS 25, since they were unlikely to ever be paid in cash. The comparative figures in the primary statements and notes have been restated to reflect this as shown below. Year ended Year ended 31-Dec-06 31-Dec-05 Restated (Unaudited) (Unaudited) #'000 #'000 Profit and loss account Cost of sales - (920) -------------------- Increase in losses for the year - (920) -------------------- Balance sheet Stock - (920) Creditors: amounts falling due after more - 1,918 than one year -------------------- Movement in net assets - 998 -------------------- Statement of total recognised gains and losses Stock provision (920) - -------------------- Total recognised gains and losses recognised since (920) - last annual report -------------------- This information is provided by RNS The company news service from the London Stock Exchange END FR OKOKBFBKDOQB |
Posted at 23/9/2006 06:46 by moreforus look at the time - genuinely pleased with the turnaround...the private placement should happen this week - from the statement although this will dilute our holdings it will expand capital (i.e. smaller share in a larger pie) but the stock is going to the chairman and CEO and other "sophisticated" investors - i.s. it won't add to the free supply of stock PLUS fingers crossed it comes at a good price above where we are today ..I think we will get a rise on the back of the news - director buying etc etc etc.... |
Posted at 20/9/2006 18:46 by moreforus gosh noone seemed to notice - reason for rise was results in-line but also placement of 1.5mill shares = 20% dilution but depends on how many shares issued - reduces our stake but increase capital so net net result probbably zero....to private investors including the chairman and CEO - effectively director buying and no increased free supply of stock as issue is going to long term investors- looking to increase shareholder value.....The forthcoming private placement of Euro1.5 million of shares, will provide the cashflow necessary to undertake the initiatives outlined above. This placement will be complete by the end of September and both Peter Urie and I will acquire shares during this process, underlining our confidence in the Company's prospects going forward. Financial results Given the release pattern of a number of titles, the Company forecast a loss at this interim stage, with profits expected to flow through in the second half as first half theatrical releases are both sold to TV and released on DVD. |
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