Looking like this might have finally reached over sold territory, IMO. Have actually made a small commitment here now. Let's see where it goes from here! |
Another 6% down... a bit more than a drip! Surprised there has not been any kind of comms. |
Need to wait for capitulation not there yet as I do see value but not yet. |
Another placing may get things on a more solid platform going forward but current shareholders will certainly feel the pain. Also watching, but will be watching for a while yet I think. |
Simon !!.
For many years a reliable, high margin solid performing business. |
Been watching this for while, it's like a slow motion car crash. |
Are they looking to raise again and the market is repricing such an outcome? |
Still 100m+ MC |
Heavy selling... what does the market know? Or has the bottom now finally fallen out. If the can service debt, seems like a decent valuation... |
Asking questions, not invested! |
Scars, you didn't take notice of my repeated warnings here.
I see you are still asking questions, eh |
More drips! More info would be good here.... |
Drip, drip, drip anyone think this is good value yet? |
Used to work with the Chairman, I wouldn’t write him off. Lack of industry experience may be a positive, won’t stand for any nonsense.
Also have to hope Welcome wouldn’t be adding if they see an imminent fund raise, they surely know more than us mere mortals. |
Looks like heading down again... any estimates on where the bottom is? and why? |
A lot of buys going through as sells. |
Poor start to the new year.£125 million raised at £2.67 a share last year.
Share price literally half that now. |
Med term,a good punt. |
Hmmm….. |
EI,
You looked at CCR before? New CEO is ex-AG Barr. |
Six people on the BoD and none of them are deeply experienced in VID's industry/sector. One was at the BBC but that ain't cut-throat - survive or die - business. |
 Is it game over for Videndum? To say its share price has been savaged is an understatement. From its all-time high of 1600p in Aug 2021, it has subsequently lost 90% of its value having just hit 160p today. Over 12 months it's down 55%, and down a staggering 38% in just one week following recent trading statement warning that recovery in its markets has been “slower than expected”. No doubt Videndum will likely apportion a lot of blame on the Writers Guild of America strike between May and Sep 2023 which resulted in a slump for demand of its products. But given the hugely underwhelming performance this year it's not surprising CEO Stephen Bird lost his job end of October.
I’m not knowledgeable of this industry but nevertheless had a very small punt today at 162p, purely on the basis it looks oversold. Having kept tabs on VID these past few months I initially targeted an entry price of 225p. However, following Monday's disappointing trading update the share price plummeted 20%, falling from 256 to 205p. My gut instinct told me to hold off buying, wait a little while longer, subsequent heavy falls made it too tempting so I finally bought in, almost 30% below my target price. I view my [lower than anticipated] entry point as a huge bonus but ultimately it will count for nothing if this continues tanking or worse still, collapses into oblivion.
It’s remarkable to think in November 2023, Videndum raised £125m via placing of shares at 267p, representing a discount of just 3.3% to its then share price of 276p. This capital was to be used to repay debt and put the group on a much firmer financial footing. One year on you could argue the foundations of that “financial footing” were built on quicksand. Those who participated in this placing will undoubtedly be spitting feathers.
As per statement on 16 Dec 2024, Videndum only expects to breakeven in this financial year [vs £12.8m profit y/e 2023], excluding one-off exceptional charge of £25m. They anticipate around £135m net debt at year end [vs £128.5m y/e 2023]. It’s safe to say both debt and diminishing profits are weighing heavily on VID’s sp, now languishing at a lowly 162p, which translates to a heavily shrunk market cap of c.£152m.
In summary; for me this is a speculative punt. It’s all or nothing. I won't be adding to my position regardless. If it dies a death then sobeit. I normally have an exit price in mind but in this instance I’m just going to sit tight and see how things pan out over the next 12 months before deciding upon a price target. As a recovery play this could easily double or treble if business picks up. Or, to use the usual cliché in these circumstances [when a share is perceived to have hit rock bottom], perhaps Videndum will succumb to a takeover.
EDIT: 15:42 - share price has dropped another 5% since I bought a few hours ago, currently 154p - not far off its all time low 148p seen in Nov 2008, market cap now c.£145m. As an investor you just have to ride out the volatility and hope for better times. |
Even after a massive fund raise its still struggling I think they should be looking to sell this off. I'm sure the banks will be saying the same |
RNS. CEO Bird gone, CFO Rigamonti demoted. |
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