Nexxen Share Discussion Threads

[midasx] 13/5/2024 21:27

Civil action based on contract law, not another Alphonso.

[digitalis] 13/5/2024 20:15

Alan J. Sussman & Associates, LLC v. Nexxen Inc little breach of contract ,defendant Nexxen inc….bubbling away in background since late April…….probably as insignificant as Alphonso so no worries lol

[ragos] 13/5/2024 18:58

There so much uncertainty around nexxen! Its going to ne a tough week to wait out!


R

[holgerbb] 13/5/2024 15:36

Tosca Opportunity Fund had quite a bad return in 2023 and so far also this year. Perhaps they are a forced seller (having sold quite a bit already) due to money being called and closing it due to valuation issues for drawings never bolds well. So Nexxen not buying as much as they are perhaps selling makes sense to me to a degree . Hence results might not be spectacular but something to build on i do have time :()

[1scaffolder] 13/5/2024 14:23

Thank you Digi for visiting the thread again with your insight and experience here. Much needed!!

[ragos] 13/5/2024 14:16

Same here, Digi.
Uneasy feeling sums it up perfectly.
As Midas says, we know so very little of what Ofer has agreed.
Further my own concern is that here are two unscrupulous companies who did him over and he is back in bed with them on terms only he knows by the looks of it.

Two questions come to mind :- What if they did it again? and can we trust Ofer's judgement?

Only time will tell as we are unlikely to hear from Ofer.


R

[wheeze] 13/5/2024 13:30

Digi you have read my thoughts

[midasx] 13/5/2024 11:21

I would love to know what the cash element was in the very favourable Court settlement?

[midasx] 13/5/2024 11:17

Can't see that Digi, they have paid off the $100 million debt!

[digitalis] 13/5/2024 10:12

Could be buying the shares through a subsidiary because they would have failed the new stress test to do a buyback through the parent company?…̷0;..that could explain a delay in launching the program?

[midasx] 13/5/2024 10:12

I noted that Toscafund had suspended trading in one of its funds pending corporate action.

May have nothing to do with Nexxen!

You might expect they would be maximising the buyback before results, if results were good, however the buyback is completely independent of the company, run by the broker. We will have some spare ammunition if there is a spike down on the 20th.

[digitalis] 13/5/2024 10:04

There have been some extensive amendments to Israeli company law earlier this year?……..the solvency stress test etc

[1gw] 13/5/2024 09:50

"Any Ordinary Shares acquired by a subsidiary of the Company as a result of the repurchase program will not be reclassified as dormant shares under the Israeli Companies Law, but such Company subsidiary will not have any voting rights with respect to the acquired Ordinary Shares."

This paragraph is new, afaics, in the buyback commencement announcement of 7th May, and wasn't in the 15th March announcement of seeking authorisation for a buyback program. In the past, they have not differentiated in the announcement between shares bought back by the company and shares bought back by a subsidiary.

So far, all the shares appear to have been bought back by the (parent) company and reclassified as dormant.

But it makes you wonder why they've added the para. Is it something relatively mundane, such as a change in the law, or is there a cunning plan?

[digitalis] 13/5/2024 09:18

Morning wheeze…….unless they know stock will be cheaper next week!!……..anything possible here……very uneasy and the trend has not been our friend for many quarters!
Also in my opinion anything israili is currently out of favour………..?
Delayed launch of $50million buyback……;.yet days away from a big inflection point in fortunes?…R30;.sorry I’m not getting it,we will be buying our own stock after supposedly good numbers with hard earned company cash,why not just let the numbers do the talking?…̷0;….mmmm

[wheeze] 13/5/2024 07:29

The buyback appears to have been slowed down for some reason - whereas previously they were recovering 100k a day now down to 30k. I guess pending results they are just mopping up rather than actively buying ?

[redface] 12/5/2024 19:46

Hey, I don't know what to believe...he has a large shareholding and so expect some positive bias. Hopefully very positive and it's TRUE!
Good investing...

[ragos] 12/5/2024 18:16

LOL!
Can't help it!
Leopards change their spots more often than CEOs in my experience!

Conditions have indeed changed, others are up 20+% , I expect 25%+ for Q1.

I am curious, what make you believe ofer is not telling porkies again?
He has a long track record!

Anyway, let's call it a day as I am sure you are busier than me!

Thanks for the chat.

R

[redface] 12/5/2024 17:18

Yeah, I can see where you're coming from, certainly a tough journey... Many here have been through the same. Also, macro economics has been crazy, with many companies down the Swanie.
Hopefully conditions have improved. Company has also changed...So onwards and upwards and at least you get your investment back

[ragos] 12/5/2024 14:52

Redface,
Not counterintuitive at all.
The story is the share price ramped pretty fast in 21. I was waiting for 9/10£.
Did not have back door contacta and ofer was positive as usual. I was too slow getting out.(another guy got out and made multimillions, some will know him)
The facts did not leak out till much later when the court papers were published.
Even then the company said zilch claiming subjudice rules.

"Had ofer said I met this fat guy al in the pub and he asked me to help out as he is in a bit of a bind. So I lent him 10m$ as a mate. He took the money and did a runner. And took all our tools". I and many others would have done a runner....

The rest you know. You can't trust him as he has only one tune :Jam tomorrow!
I am sure given time and no headwinds it can go up again but that is another story.

R

[redface] 12/5/2024 11:43

Thanks for reply Ragos...as you hold many shares here, it all sounds very counter-intuitive, but wtfdik
All the best (and if you can find any positive/negative info in the future much appreciated)
Cheers

[ragos] 12/5/2024 07:06

Thanks Barky,
I think it is an age thing. The older ones seem to know how to handle things they do not like and not get upset.(mind you we have had years of dealing with the likes of stt etc).

Younger ones seem to take offence easily and have difficulty accepting differences or ignoring what they don't like.

As for nexxen, the only info we have is their FULL year 2024 f/cast (rev/Ebida). Won't know the result till March next year, everything else is ofer's word!

will leave it at this...

R

[barkbooo] 11/5/2024 20:31

Ragos, I don’t think anyone on here would find you irritating - you say it how you see it…and your many years of experience is an asset to this thread.

[ragos] 11/5/2024 18:26

ps
If I am too irritating, the filter works well!

R

[ragos] 11/5/2024 18:14

redface,
Made a big mistake going in big, can't face such a big loss and looking for an opportunity to get out without too much of a loss.
Did not get out in '21! Another mistake! Lost most of their revenues and profit. That's down to the bod, no one else. Screwed up big time.

Does that answer your question?

I also provide a check on the rampant optimism the is up and down like bride's nightie, as my old mate used to say!

R

[redface] 11/5/2024 17:35

Hey Ragos, if I own shares i usually talk them up and feel optimistic of future prospects, or sell. Is there any reason for you to hold them, if you've lost all confidence... (not a criticism, just wondering why you still hold)