Zamano Share Discussion Threads

[hugepants] 29/1/2017 21:57

How much power do the directors hold given they only hold about 400,000 shares in total?

Here's the updated major shareholders. Looks reasonably well diversified with no controlling shareholder.

Pageant Holdings Limited 19,771,982 19.88%
Aurum Nominees Limited 13,624,664 13.70%
Ulster Bank Diageo Venture Fund 13,888,889 13.97%
Grillon Holdings Limited 9,085,928 9.14%
Farringdon Capital 9,000,000 9.05%
Pershing Nominees Limited 4,709,516 4.74%
Davycrest Nominees 4,271,163 4.29%
Magizano Investments Limited 3,549,999 3.57%


Pageant Holdings are an Irish-based investment company.
Grillon are the company of a guy called Gerard Dowling who is the founder of Red Circle.

[seangwhite] 28/1/2017 01:18

Needs to be at 4.5p before I think it worth a punt. The costs of getting rid of our illustrious management team need to be factored in to access value.VGLTA

[seangwhite] 27/1/2017 14:12

The Zamano management team's performance should really be used by any of the top business schools as a reference for how to run a business into the ground. The level of disregard to shareholders interests is astounding. Pageant Holdings must be fuming over this farce.VGLTA

[seangwhite] 22/1/2017 22:45

As it turns out the management have proved unreliable and no friend of the ZMO shareholders.Let's hope 17 marks the end and the Company is sold or liquidated.

[hugepants] 22/1/2017 20:49

Picked up a few more at a smidgeon over 5p last week. With approx 5p net cash that implies no value to the actual business which the company believes will be profitable and cash generative going forwards. Final results are historically released early March so maybe some clarity on the future direction then.

[hugepants] 11/1/2017 20:13

A bit of comment from Mr Wexboy on Zamano which is worth a read -



...The company remains rudderless (still nothing regarding a CEO) – the only good news is that acquisitions are finally off the table, plus the remaining management team’s finally been forced to come up with & implement a restructuring plan (which should have been at least outlined alongside the Payforit warning, not two months later) to ensure the company remains profitable/cash-generative & to protect its EUR 7.3 million cash pile.

But presuming that, the last trade price values Zamano at a near-30% discount to cash, plus I believe the business still has significant value (at least in relation to its current market cap) in terms of intangible assets and/or the potential stabilisation in revenue/possible profits going forward (don’t forget the company’s a survivor for almost 20 years now). But investors obviously aren’t prepared to give management any benefit of the doubt here, and to date the company’s cash pile has been inaccessible (& therefore ‘worthless’ in many respects) – realistically, a decent return from here is only going to be delivered via a sale or liquidation of the company, with the cash pile returned to deserving shareholders (now the only logical step, with acquisitions killed off & presuming the restructuring ensures profitability)...

[qut] 06/1/2017 14:06

Exactly HugePants, they should be paying a dividend or other form of cash return to shareholders which was mooted before by posters. This idea was put on hold when the company proposed acquisition/s, but is now worthy of discussion. Are they not a very attractive takeover target themselves given the large cash pile and low share price? They turned down an offer of circa 14p per share for the company not long ago!

[hugepants] 05/1/2017 20:04

Since they are now not going to go ahead with an acquisition what will they do with the cash? I wonder if they will return it to shareholders. What do they need it for now?

The market cap is £5.5M and net cash will be about £5M at end of 2016 giving an enterprise value of only £0.5M. And the final results should show an after-tax profit of about £0.9M! That's assigning 4 months of profits to H2 pro-rata with H1 profits.

I guess the question is what is the level of ongoing profitability? Last update suggests they are cutting about E0.4M in costs and state this will ensure the business remains profitable. They also suggest they can increase UK revenues over time. But is the cash pile now worth more than the actual business?

[seangwhite] 23/12/2016 16:28

Wonder if 17 will bring an end to this tale of management constantly keeping their shareholders in the dark whilst the share price slowly declines.VGLTA

[hugepants] 13/12/2016 22:15

I just realised the payforit change did not occur till 1st November which means ZMNO will have had 4 months of good profitability in H2. They made 675,000 euros after tax in H1. Id expect bottom line earnings to be over 1M euros for the year to end of 2016. I also think they must have paid down some creditors which would explain why the latest stated cash balance is lower than it was at the end of H1. So I think net cash higher than I thought and probably about 6 million euros (5p per share) here now? Would mean the profitable business going forward is only being valued at £0.7M at current 5.7p share price.

[rndm355] 29/11/2016 22:34

>>halved in price --- makes it much more attractive investment.

>>staff and directors have gone --- costs cut and the risky M&A strategy abandoned. so making it a more attractive investment.

>>now a real basket case --- they have indicated they are positive on the core business being profitable in the future, and the cash remains in the bank as it was before. how does that make it a basket case?

[barnetpeter] 29/11/2016 20:21

Last looked here 6 months ago when I sold these. The same positive posts, very confident as then. The stock has since halved in price, staff and directors have gone and it is now a real basket case

[hugepants] 29/11/2016 20:08

Shareholding announcement. Pageant Holdings have reduced from 29% to 20%.


That explains how Farringdon Capital got their 9%. There is a Farringdon Capital Partners who are a hedge fund. They sound like more probable buyers than the real estate Farringdon Capital.

Reckon this is quite positive since it reduces the control of a big single shareholder.

[fillipe] 29/11/2016 11:41

More being taken at close to the full ask...11.17hrs - 100k @ 5.95p, amongst others.

Not just as quiet as of late at ZMNO

f

[hugepants] 28/11/2016 19:40

Bought some of these based on Friday's RNS which I think was positive. Especially the fact they are saying the business will be profitable and cash generative going forward. So a market cap of £5.8M against cash of £6.2M and net cash of approx £4.5M means hardly any value assigned to the business which has pretty decent revenues.

There's a holding RNS today stating Farringdon Capital hold 9%


I can't see this bunch mentioned before.
Not sure if this is them

[qut] 25/11/2016 18:05

Might they now be wishing they had accepted the takeover offer at circa 14p, I believe? I agree with rndm355 that this is a better strategy than M&A - this way they should prevent undue erosion of the large cash pile and, in the meantime, plot the best way forward

[rndm355] 25/11/2016 17:09

I am very confident that this is positive news. The risk involved in the M&A strategy became too much for me to bear, which is primarily why I sold out.

It looks to me like this should delist. Hopefully shareholders would be given a decent price to exit.

Former shareholder, no position

[tiswas] 25/11/2016 16:30

Anyone care to guess where the latest RNS leaves us?

[seangwhite] 24/11/2016 10:29

Looks like nobody has much interest in this and that is the Brea son it is currently at a discount to cash. The prospect of them making an acquisition is not one to make most shareholders hopeful or excited in the near-term.

[tiswas] 22/11/2016 09:32

They could be on the other side of the world for all the news updates we get. I hope we hear something before results in March.

[qut] 06/10/2016 15:31

Seems like some largish buys have been going through in past few days

[qut] 04/10/2016 15:24

Isn't this a prime takeover target now? With the fall in the share price and the cash pile they're sitting on... They had an offer before at circa double the price which they rejected

[aleman] 03/10/2016 07:54

Nice of them to tell us there was a court case - even though cleared.

[tiswas] 30/9/2016 13:28

....will significantly impact the Company's and its B2B customers' ability to acquire new subscribers on the Payforit platform in the UK with effect from 1 November 2016

Anyone with a better understanding know if NEW subscribers is accurate, in other words will they still generate revenue from EXISTING subscribers or are they impacted as well?