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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Spark Vent. | LSE:SPK | London | Ordinary Share | GB00BYRH4982 | ORD 50P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 800.00 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 800.00 | GBX |
Spark Ventures (SPK) Share Charts1 Year Spark Ventures Chart |
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1 Month Spark Ventures Chart |
Intraday Spark Ventures Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 11/10/2015 | 16:37 | Spark Ventures (new media spark) | 802 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 11/10/2015 16:37 by oooff I have a certificated spark holding. I decided to take up my placing shares, plus 1 extra share to take the total to a round number. My assumption was, I would receive 1 new certificate for my new total of spark shares.I actually received 3 new certificates. One for my consolidated original spark share holding. Another certificate for the placing shares and yet another separate share certificate for the single share above the placing amount. |
Posted at 24/7/2015 18:52 by super_sub Ah, I can see the reason for the large consolidation now. SPK obviously still have a lot of small shareholders from the dot com days, and most of them are probably in certificated form. So by implementing the 200:1 consolidation along with offering a free dealing facility, they are hoping to squeeze most of them out. And to be fair, it's probably the best option for anyone in that position.I sold out on Wednesday morning, but still qualify for the open offer. Barring a very unlikely rise in the share price next week, I won't be participating though, as the current mid price indicates a new share price of around £8.75 after consolidation. |
Posted at 24/7/2015 16:35 by ali47fish can anyone please clarify if it is worth participating- i have 5000 spk shares valued currently at £218- if do participate, i will be entitled to 4.17 shares- so i am not sure what is one gaining with such a small number of shares- what will happen if i dont take the offer? The shares will lapse and what do i get paid?with thanks |
Posted at 24/7/2015 08:35 by exit234 As others had mentioned, I entered this fully expecting them to wind down the company and convert everything to cash, or distribute IMO shares. That is what all the announcements had been suggesting until the most recent. I can only think it is a way for the management and directors to extract some more money. Disappointed really. Sold out for a 20% gain (225% annualised) so can't complain too much (and this was entirely based on the fortuitous and timely rise in the IMO share price after my purchase rather than any skill) , but it could have been so much better. Good luck to all those that decide to hold. I hope the new investment managers prove their worth. |
Posted at 22/7/2015 10:02 by super_sub Obviously that £9 issue price is the same price for existing shareholders as it is for the new placing shares and those issued for the asset swaps.I'm not surprised to see this morning's drop to below the £9/4.5p issue price. I have decided to sell out, as the main reason for my holding (i.e. cash return) is no longer there. |
Posted at 21/7/2015 22:41 by super_sub Before today, or at least before the annual results on 10-Jul, all SPK shareholders would have been expecting cash (or maybe cash +IMO shares) to be returned to them in the near future at somewhere close to NAV, which is now approx 5.8p."The Company recognises that some Shareholders may not want to continue as investors as the Company pursues its New Investing Policy", so it would have been nice if they'd have offered those "loyal and supportive Shareholders" the cash exit they were expecting, rather than an opportunity to invest in new shares at a 10% discount to yesterday's share price (which itself rose 25% on that day as a result of that timely IC tip)! I do agree that the 1:200 consolidation is a bit strange. A lot of companies tend to split their shares when they reach £10. |
Posted at 21/7/2015 19:39 by topvest Well yes does seem rather rushed. I'm going to take a look at this company again after a number of years away. I'm a holder in Gresham House. Rather miffed you are getting the SAL shares at a 7% discount to a low share price in an asset swap. The Miton shares also look a good swap. All a very odd arrangement but does look positive here. Will look at further I think, but probably await the consolidation. |
Posted at 12/7/2015 22:58 by super_sub So the current SPK NAV is about 5.5p per share.Every 1p on the IMO share price equates to 0.02p on SPK's NAV, taking into account that 20% of all profits on IMO are taken up by the management incentive fee. I was pleased to see in Friday's results that the £3.1M cash being held up in Escrow for tax reasons is expected to be released in the next couple of weeks. But I was surprised to see this comment: "SPARK is not currently looking to sell its (IMO) holding whilst its strategic options are being considered". Now that the lock-in period has expired, I would have expected them to have started offloading IMO (just like other big shareholders have already done in recent weeks), especially as their investment policy was to seek to realise their remaining investments. In the previous half yearly report, there was mention of distributing the IMO shares in specie to shareholders, but it seems that they are looking to continue SPK in some form "ensuring that shareholders benefit not only from realisations but also the value of the quotation, reputation and tax losses of the company". I would have expected them to have hung on to some of those unquoted assets they sold at a discount in April rather than the AIM quoted IMO shares, if they were planning on a Spark II though. I look forward to hearing some news on future proposals soon. |
Posted at 22/4/2015 20:24 by super_sub This now appears to be just a very cheap way into IMImobile (IMO) after yesterday's announcement of the sale of all of Spark's other investments.September's published NAV was £25.6M (5.6p per share). Taking into account the 20% discount at which the sale was made, and the fall in the IMO share price since September, my calculation for the current NAV is about £23.0M, comprising £10M cash and £13M in IMO (@120p). That equates to 5.0p per share. But there is an unresolved Indian tax concern about £3.1M of that cash. They are locked into IMO until the end of June, but mentioned the possibility of distributing the IMO shares in specie to shareholders. Spark shares could be bought at 3.1 or 3.2 today - looks like a bargain to me. |
Posted at 22/4/2015 19:40 by james dean Spark Ventures PLC Sale of assetsTIDMSPK RNS Number : 7837K Spark Ventures PLC 21 April 2015 SPARK Ventures plc ("SPARK" or the "Company") 21 April 2015 Sale of assets SPARK Ventures plc, the early stage technology investment company, announces that it has signed a definitive agreement to sell all the remaining portfolio investments, excluding IMImobile ("IMI") and the stake in Quester Venture Partnership, to Hollyport Secondary Opportunities IV Unit Trust ("Hollyport") for a minimum aggregate consideration of approximately GBP3.7m (0.9p per ordinary share) which would be increased should certain events happen relating to some of the assets before 31 December 2015. This represents a maximum aggregate discount of approximately 20% to the September 2014 investment values (the last reported valuations). The investments sold that had a September 2014 valuation in excess of GBP0.5m include Compliance Online (formerly Gambling Compliance), DEM Solutions, Academia and my Deco. Together with the successful flotation of IMI in June 2014, this now means that SPARK has largely concluded the strategy announced at the time of the restructure and MBO in 2009, since when shareholders have already received total returns of GBP54m or 13p per share. The Board of SPARK anticipate that the completion of various transfer provisions will take several months to complete, and cash proceeds will come in to SPARK over that period. SPARK's preliminary results for the year to 31 March 2015 are expected to be announced in July 2015. At this time SPARK will provide a further update to shareholders covering the completion of these asset sales, progress made regarding its 17.8% holding in IMI and an update on the future strategic direction of SPARK. As a consequence of both this transaction with Hollyport and the fact that the listed IMI shares remain subject to the customary 12 month lock-up restrictions until 27 June 2015, the investing policy of SPARK has been changed to remove the date to which the investing policy applied of 31 March 2015. SPARK's revised investing policy is therefore: -- Make no more investments into new businesses from its own balance sheet resources and seek to realise its Remaining Investments, subject to abiding by the orderly market and lock-up provisions relating to IMI. -- Return surplus cash to Shareholders arising from its cash reserves, from the completion of the Hollyport sale process and from the realisation of its Remaining Investments. However, the following additional policies remain in place: -- To only make further investments into the Remaining Investments. -- To actively manage the Remaining Investments where the Directors consider to do so will enhance Shareholder value. -- Not to leverage any of the Remaining Investments. As a consequence, as the sales of investments to Hollyport progress the Company's portfolio will become more concentrated. The "Remaining Investments" refers to the Company's 17.8% stake in IMI, its 0.5% stake in Quester Venture Partnership, together with stakes in any other investment that, despite the current agreement to sell them to Hollyport, do not complete for any reason. To support the completion of these asset sales and other matters, SPARK has agreed terms with SPARK Venture Management Ltd (the "Manager"), to continue to manage the Company. The Company's existing management arrangements expired on 31st March 2015. Accordingly, the Company has sought and agreed terms to renew such agreement on similar terms and will therefore enter into a new management agreement (the "Management Agreement") pursuant to which the Manager will continue to be responsible, subject to the overall supervision of the Company, for managing SPARK's remaining investments and for completing the Hollyport sale process. In consideration for its services under the Management Agreement, the Company shall pay:- -- a Management Fee of GBP100,000 per quarter, for Administration Services and Investment Management Services (as defined in the Management Agreement) subject to a 3 month notice period; and -- an incentive payment, in the event of the successful disposal of SPARK's investment in IMI of a sum equal to a maximum of 20% of the cash profit realised for such shareholding. The incentive payment referred to above is not a new incentive but is a re-iteration of the incentive payment arrangements in place for the year to 31 March 2015. The IPO of IMI was the key performance achievement that triggers an incentive payment, but no payment is actually due until the shares in IMI have been sold or distributed. An estimate of the likely liability arising from this incentive scheme was made in the adjusted NAV per share as disclosed in the Interim Report for the six months to 30 September 2014. The entry into the Management Agreement will constitute a related party transaction for the purpose of the AIM Rules for Companies. The independent Directors of the Company not associated with the Manager, being David Potter, Charles Berry and Helen Sinclair, having consulted with the Company's nominated adviser, finnCap, consider the terms of the Management Agreement to be fair and reasonable insofar as the Shareholders are concerned. Hollyport Secondary Opportunities IV Unit Trust is a Jersey based secondary private equity investment vehicle managed by Hollyport Capital. Based in London, Hollyport has been acquiring and managing mature private equity assets since 2006 and has significant experience in transferring and managing direct investments. Hollyport will work closely with SPARK and its manager to achieve the transfer of the investments over the coming months. For further information please contact: Andrew Betton / 07540 725 SPARK Ventures plc David Potter 100 Matt Goode / finnCap Christopher Raggett 020 7220 0500 Charles Cook / Attila Consultants Nita Shah 020 7947 4489 This information is provided by RNS The company news service from the London Stock Exchange END DISPKKDDDBKBAQB |
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