Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
"can now self-fund its growth"
Read the extract from the CFO's Report on the results, below
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Net debt
Net debt at 31 December 2020 was £43.8 million (2019: £49.8 million), and was refinanced on 21 December 2020.
Bank facilities
In December 2020, the Company entered a new Syndicated Senior Credit Facility of up to £125 million (the 'Credit Facility') led by Santander UK and including several major UK and European banks. The Credit Facility, which comprises an £85 million committed term facility and a £40 million accordion option, will provide the Group with further capacity and flexibility to support its ongoing buy-and-build strategy, as well as reducing like-for-like borrowing costs.
The Group's new Debt Facilities have a maturity date of 21 December 2025 and are subject to a variable interest rate based on LIBOR plus a margin depending on EBITDA. As at 31 December 2020, total undrawn facilities available to the Group via the new Debt Facilities amounted to £63.7 million.
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£63.7m of undrawn debt is available to fund growth.
The latest Alliance Trading Update 7 Day diary has GBG announcing both on Monday 19 and Thursday 22 April. The GBG website's Key dates - Investors page. still has April 22 as the date. Either date, it doesn't matter, the main thing is the details in the announcement.
Looking at today's trades it would appear that the bid should be 42p. Meaning the mid-price should be down 1 @ 41
Bought a few yesterday morning, with the intention of getting more if they fell back. Might have to wait (forever). Amazing that they can snap up businesses and their people for relative peanuts, considering how much they are likely to deliver.
It looks as if our buyer from yesterday, has been joined by a seller today. Both should be happy.
Taken from the DnB website regarding the awards.
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Winners of the Accelerate50 Awards Programme will receive the following benefits:
Global, national and industry recognition as an innovative, fast-growth technology company
Exposure to influential brands and executives
Remote networking: 1-1 introductions with other winners
Promotion across the Dun & Bradstreet global communications channels
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There is a magazine available to download that lists all the 50 winners. You have to fill a little form to receive.
https://www.dnb.co.uk/solutions/accelerate-50-awards.html
Could be some selling when the sold treasury shares are released. However, if there is a special dividend in the offing, that is likely to be delayed.
Alliance News state, GBG Trading Update on 19 April. Has been brought forward from 22nd. The last TU (end Feb) advised profits would be at least £53m. With revenues from the US booming, would that figure to be higher, closer to £60m perhaps? Recent movement in SP, since year end, does suggest that expectations have been raised.
Not all City Pubs open today due to a lack of outside space. The good news though is that what must be the crown jewel in the City Pub estate, The Hoste Arms, luxury hotel, is open for business, including lunch, tea or dinner on the Terrace. Plus the rooms are available available for occupation. They need to be booked but there is some walk-in capacity. City Pub management wisely took advantage of the current lockdown to spend around £300k on the refurbishment of this important revenue earner for the company. Warmer weather this weekend and May 17 and full estate opening to look forward to.
Take a look: https://www.thehostearms.com/
They were down on Wednesday so bought some more. The Q3 announcement is likely to be very good after all. Bullish noises for the rest of current financial year, likely to drive the sp higher in the short term £20+. There will be a short term dip of 10% at some point, not yet.
My note on Bango was a trading update on 14 July last year, therefore am not expecting anything with regards trading before July. Am sure that in the meantime, we will be getting more than one rns similar to yesterday's.
Did some research on NHN yesterday. They were, for a number of years, the same company as Naver Corporation, one of the biggest internet companies in the World on revenues. Described as the Google of South Korea, though they extend further than that. They also have the largest A.I. research unit in France (Grenoble). There is likely to be communication between NHN and Naver, even if unofficial. The Airtel news yesterday, Airtel being recognised as the number two business brand in India. The point being Bango are rubbing shoulders with so many big players throughout the World, as well as the US giants. They are doing business with Bango because of their software. Meaning there is a danger of a takeover before the SP adds another digit, in a few years, because they want it for themselves. Am happy to accumulate some more and enjoy the moments, while it lasts.
Final words from Paul Larbey of Bango, when asked about the future of Marketplace.
"early days (slight pause) but the growth is just incredible"
What's not to like?
400m mobile customers.
This is what Bango is involved in here:
https://www.youtube.com/watch?v=HR913O4KJIU
I've just read the Alliance News report, annoyed with the wording of it. The report makes it look as if the company is desperate for money, as the CEO bails out. Not a good look to PIs. For me the mm decided from opening that the price would be falling today. As an intended long term holder, downward movements over a few days don't bother me.
Will be interested though, to discover if the placing went to one party. In which case we will be getting an rns. Does the mm have a large order for more shares and needs to shake out smaller holders? If so, perhaps the CEO is aware of their interest. Their possible involvement in Beeks requiring the CEO to reduce holding below 50%. Was noteworthy how the new shares to be issued plus the shares sold by Gordon McArthur managed to push his holding below this mark. This is not a conspiracy, the company is on the up, analysts will have taken notice and made their predictions, time to become a major shareholder. Just a thought, doesn't make it true. If you have a different idea of what's going on let us know.
Regarding the dividend, it was offered last year, take it away now and it looks bad. As suggested the CEO is probably happy to get his slice of the pie, he has actually earned it.
Oversubscribed. Founder Gordon McArthur, offered to sell some of his shares if so. They, 434,783, have been snapped up as well.
Beeks are likely to be investing in equipment for the Private Cloud launch, which might well qualify for tax relief @130%.
Only bought a modest amount @1473 after seeing the Trading Update. Surprising how far the price can travel after the official results come out. Have set a price over £19 to sell at. Though will hold on till Q3 announcement, if any closer. Wouldn't put off anybody holding, as this is a good company with no debt. After selling will reserve money and buy back and acquire some more, if a market correction occurs at the right time. From my point of view, just a pity I wasn't looking to buy a few years ago.
Good luck to all.
Doubt that this is a take over bid. Though do believe they will be aiming for ten per cent. NHN know more about Bango's future potential than we do, therefore this is a very good sign.
Thanks again. The future does look bright.
Thanks for the links sb. His promotion should be good for Bango.
Reasons for placing:
· approximately £3m for investment to support the launch of the Beeks Private Cloud offering;
· approximately £1m for the repayment of the Group's RCF facility; and
· up to approximately £1m for additional working capital, including for the evaluation of M&A opportunities.>
This company is preparing for more growth, particularly due to the launch of Beeks Private Cloud, expected to launch later this year. Would hope, indeed expect this placing to be oversubscribed. Looking forward to a rns confirming that tomorrow.
fdh.