7digital (#7DIG) – £0.5m loan from director, Chairman change
- 2022-09-23 07:53:36
UK 09:10 Friday, 9 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Self-styled “global leader in B2B end-to-end digital music solutions”, 7digital Group (7DIG) has announced a “oversubscribed placing and subscription… raised £6.0 million (gross)… to support immediate and medium term commercial growth opportunities, in particular within home fitness, artist monetisation, and social media”...
This week private investors seem to be very excited about shares in a company called 7digital (7DIG) and the share price has rocketed, but at this stage I’m finding it hard to see how a rise of this magnitude is justified or sustainable.
Having last month stated “largely completed the rescue”, an AGM Statement from 7digital (7DIG) including “we are confident that all resolutions put forward today will be passed. We can confirm that our second stage financing plans are well underway, and we should be in a position to confirm the fundraising in the near term”. The shares have currently responded, er, more than 7% lower, to 0.24p…
Shares in 7digital Group (7DIG) are currently on the rise on the back of a “Management and Board Changes and Cost Savings” announcement, including “we have largely completed the rescue by securing a new, strategic majority investor, which has stated that it is prepared to invest further funds”…
Previously writing on 7digital Group (7DIG), in May I reviewed shares soar on Denmark assets sale… but that transaction sufficient? – concluding I thus suggest it still remains cash crunch ahoy in the relatively near-term – and at a market cap of still only £2.5 million, at best material dilution ahoy. I continue to avoid. Today a “Result of General Meeting and Update”…
Having first cautioned on 7digital (7DIG) a couple of years ago with the shares at 6.75p, they’re currently 0.60p. However, that compares to sub 0.20p previously sunk to – before a “7digital agrees sale of Denmark assets to TDC” announcement…
Having earlier this week updated including “the board's current view is that the business will require material further equity and/or debt funding in the next quarter without which the company would be unable to continue as a going concern”, now an “Early Redemption of Loan Notes” announcement from 7digital Group (7DIG). Uh oh…
Previously writing on self-styled “global leader in B2B end-to-end digital music solutions” 7digital (7DIG) in January it was “pleased to confirm” restructuring completion… but much it shouldn’t be pleased to confirm! – as the shares slumped below 1p… and still I concluded, I suggest “a detailed statement of the expected out-turn for 2018 once accounting issues related to the restructuring and revenue recognition under IFRS 15 have been resolved” won’t be pretty. That there’s the restructuring with “several operations and offices have been closed or discontinued and staff numbers reduced in all locations” and the HMRC situation of circa £0.417 million seemingly relying on expected receipts, also suggest financial distress – and hopefully my prior warnings were heeded. Natch, still a sell / avoid. Now a“Business Update”…
In September, previously writing on 7digital Group (7DIG) I questioned a “global leader” with Universal Music contract wins? – with it seeing me question AIM-listed companies which claim ‘global’/‘world’ leader an automatic bargepole / sell?. An intra-day (Uh oh) “Update” today commences that the group “is pleased to confirm”… but the shares are currently more than 50% lower, below 1p!…
Previously writing on self-styled “global leader in B2B digital music solutions” 7digital Group (7DIG) last month, I questioned Triller contract win, ramptastic? Now “Universal Music Group Contract Wins”…
Shares in 7digital Group (7DIG) are currently on the rise after it has followed much-delayed 2017 results yesterday, with a “Triller contract win” announcement today…
Self-described “global leader in B2B digital music solutions”, 7digital Group (7DIG) has today announced results for its year ended 31st December 2017. Yes, 2017 – you have read it correctly!; the shares have been suspended since 2nd July. That as “in the course of the audit, certain deficiencies in our preparation were brought to the attention of the board”. Hmmm…
A Year End Trading Update from 7digital Group (7DIG) includes “revenue for 2017 is expected to be up 52% at £17.3m” and “losses at adjusted LBITDA level are expected to be significantly reduced from the previous period and be better than market expectations”. The shares have nudged ahead to 5p – though I note this still well down from start of 2017 levels…
