Proxama Share Discussion Threads

[barvin] 07/2/2018 12:23

It seems to be owned by CARGIL MANAGEMENT SERVICES LIMITED (1 share issued and owned), shows as a dormant company. So it appears no link to Proxama PLC yet. It could just be a case of registering the name, but a very strange way of going about things if that is the case. But nevertheless, the Kennedy potential involvement looks like cause for concern. They need to explain the situation and quickly.

[barvin] 07/2/2018 12:02

Blimey, don't want to be an alarmist here. But that info from Canarris is very worrying. The man who was running the show during a 98% drop is still involved? WTF? The Ltd company has been set up even after the resignation announcement of Kennedy! Although I do recall some cryptic LinkedIn message someone mentioned about him doing something similar.

Courtesy of Plunge 01/11 - A farewell post from JK on his LinkedIn account:

"So after three years in the driving seat of Proxama plc its time to move onto a new challenge. I'm delighted to complete the sale of our Payments Division tonight as a perfect finale. Leaving the business debt free, under tight cost control, rising revenues and at last some material working capital behind it, im leaving it in a significantly better position than when I joined. Good luck to the new Executive Team that now take the reins.....for me it's off to pastures new....though very familiar territory....."

We saw the share price rise on news he had left, I'm sure the opposite effect will now happen. This stock is such a dog. I would be very nervous about holding large amounts going these into the results.

[trek3] 07/2/2018 11:50

Im guessing if that was the case they would still need
shareholder approval, and if shareholders didn`t like
the price offered, they could go to arbitration.

[canarris] 07/2/2018 08:00

Thanks to one of the posters from Lse BB.Copy and paste.Morning all, I haven?t read this board in months so apologies if this has been discussed before, but one of my fellow Twitterers pointed out last night that John Kennedy is still very much a part of this company. He may have resigned from Proxama PLC, but he is still a Director of Location Sciences. In November a new company was registered at Companies House called "Location Sciences Group Ltd". See here... https://beta.companieshouse.gov.uk/company/11077939 One of the Directors being our very own John Kennedy (Finance Director) as per the people page: https://beta.companieshouse.gov.uk/company/11077939/officers Why is he a Director of this new company when he supposedly resigned and has a new job in insurance? And why have they set up a new PRIVATE listed company, when we already have a PUBLIC listed company? This is pure speculation but if Proxama PLC were to sell the Location Sciences business to the Location Sciences Group Ltd, then everything Locations Sciences wise becomes private and we will be left holding shares in a cash shell. Are their intentions to stitch us shareholders up again, or does anybody on here know why else they have set up the Private Ltd company?tax purposes?! I haven?t contacted Slade, thought I?d throw it out here first.

[barvin] 06/2/2018 22:47

Going to be interesting seeing those figures, I estimate cash will be at £1.2m. Price seems to have found its base at 2.4 but I see this at 2.0 when the woeful revenues are revealed and prospect of further funding starts to dawn on people.

[trek3] 06/2/2018 15:20

All this little company needs is one decent contract
just to prove the concept, if this happens, it will
multibag.

[plunge] 05/2/2018 22:05

I see the Company has just appointed a Commercial Director



He previously held the role of International Commercial Director at Opera Mediaworks and presumably well known to Mark Slade.

[canarris] 03/2/2018 15:23

Personally I don't know why Jo Rabin was hired in the first place. I suspect that was Kelvin Harrison choice and Jo came from kevs buissnes circle and when Slade took the reins he decided someone else would be more suitable for CTO position.

[barvin] 03/2/2018 13:41

Jo Rabin CTO knowing what a great company it was, staying all of 3 months. Nice

[plunge] 03/2/2018 12:49

Proxama's website now shows the Executive Team comprising of the following:

CEO - Mark Slade
CSO - Dan Francis
CTO - Paul Hayton

Previously Jo Rabin (CTO) and Simon Jones (Director of Product & Technology) featured here. So this suggests they have probably moved on.

[meijiman] 03/2/2018 12:08

Brian Clough wasn't on that particular job......

[plunge] 03/2/2018 11:43

Barvin

I accept that the ex-CEO was not entirely honest with shareholders and probably left before he was pushed. However, we do owe it to the new board to prove themselves.

Rome wasn't built in a day and the need for extra funding cannot be discounted, although I hope not. Time will tell.

[plunge] 03/2/2018 11:23

Agreed Canarris.

Perhaps the person who left may not have possessed the necessary technological skill set required by the new operating model.

Further, for competitive reasons it may be improper to disclose details of any new deals. I am sure a lot more will be revealed shortly.

And Barvin's suggestion that 'GDPR will put a major spanners in the works' is clearly of mischievous intent. The Company has already stated it sees this as an opportunity (not a threat) to change the nature of data governance, modernising data policy and ensuring compliance in this new information age.

Right now I am not in a position to comment on the need for extra funding.

[barvin] 03/2/2018 11:05

Not if the new board is not any better than the last. It was with the old CEO they concocted the pie in the sky data purchase/sell plan for growth (see the presentation video from last year)I applaud the sale of the DP division, but that's only 3/4 months cash burn and likely the add on payments will never arrive. They rarely do due to targets etc and the purchasers reluctance to pay. You will see in the results, this is going nowhere fast. Wake up

[canarris] 03/2/2018 10:17

Barvin it's short-sighted and naive to think that the company with new Bod and completely new strategy, after cost cutting exercise and sale of the old DPD business is doomed to failure.

[barvin] 02/2/2018 22:46

Don't be naive. Staff leave and need replacing also. You can see on LinkedIn a software engineer who had been with them for 5 years left in Dec 17 to go to an insurance company to do the same job. So likely his replacement.

We should have seen and heard of 10+ deals by now but nada. Another 3 months from now, fundraise required imo. GDPR will put a major spanner in the works for them this year.

[plunge] 02/2/2018 22:12

Posted by Mark Slade on his LinkedIn account today.

"We are looking for experienced data engineers to join our growing and cutting edge data team... billions of rows of data!"

So it appears the business is starting to scale up. I eagerly await the annual update and forward guidance statement.

[plunge] 01/2/2018 21:23

Currently it appears from Location Sciences LinkedIn overview that two CTOs are employed, i.e. Jo Rabin and now Paul Hayton. Very strange.

Interestingly, the latter was previously employed by Criteo, the same outfit David Philippson emanated from and who is now acting as an adviser to PROX.

[canarris] 01/2/2018 18:56

I can see new CTO as well.

[plunge] 31/1/2018 20:39

It looks like the Company is now on the look out for a Data Engineer

[plunge] 29/1/2018 20:38

From Proxama's website it looks like its London head office has relocated again. The new address is now:

The Tower Building (4th floor)
11 York Road
London
SE1 7NX

[plunge] 22/1/2018 21:40

A good article from one of Location Sciences's OOH partners.

[ochs] 18/1/2018 08:17

I was also impressed with the speed - too many small companies on AIM take 4 to 6 months to produce accounts after a year end!

[plunge] 17/1/2018 22:13

It is good to see that the Company is producing AUDITED accounts by mid February. This is much earlier than in prior years under the ex-CEO/CFO.

Presumably the reason for this is to bring forward the AGM where its name change to Location Sciences can be ratified. The Proxama brand is just too tainted with the failures of the past.

Hopefully the annual report will also support a good recovery story here. I will be particularly interested in the forward guidance statement.

[canarris] 10/1/2018 14:11

Throughout his career he was involved in companies like Admetrics Biddly and Criteo all revolve around adtech and data.Finding as many buyers for those current 4 data products is crucial AtM.