Shares in Proxama (PROX) are on the rise today on the back of the company's AGM-day updates. Let’s take a look…
This is comedy central. AIM-listed Proxama (PROX) put out an RNS after-hours last night (at 5.29pm) entitled Statement re Speculation and then ‘fessed up to a few problems at Companies House. I haven’t tracked down the speculation – perhaps some kind reader can point us all in the right direction. But well-run companies don’t suffer from this type of problem. The RNS read:
In September Proxama (PROX) was emphasising “the board is now of the single view we have the right board and executive team, the right cost structure for both divisions, and the right products either in market or in development”. Today it “is pleased to announce the sale of its Digital Payments division”. You what?...
Self-described “leading mobile location and data intelligence expert” Proxama (PROX) “is pleased to announce its half year results for the six months ended 30 June 2017 and a trading update”. The shares though remain depressed at little more than 0.03p…
Last writing on Proxama (PROX) I noted new agreement announcements now being seen through – and the shares are currently lower today on the back of “Result of Open Offer” and General Meeting updates…
Proxama (PROX) has announced an “important” partnership agreement with Rail Delivery Group, a group which brings together train operators and Network Rail. The shares have currently though responded to see them amongst the biggest fallers on the day…
Shares in Proxama (PROX) currently feature on today’s top gainers list on the back of a “Contract Renewal” announcement. Hmmm, what’s the detail here?...
Proxama (PROX) “is pleased to announce its Full Year Results for the year ended 31 December 2016” and “pleased to announce the successful completion of an upsized bookbuild for the placing”. Shareholders probably aren’t so pleased – the shares having responded approaching 70% lower, to 0.04p…
Having recently concluded on Proxama (PROX), the explicit inclusion of “should it require further working capital” suggests to me it very much will, I note an announcement today that the company “is pleased to announce four revenue generating contracts for its Proximity Marketing and Data Division”. “Revenue generating” rather than any useful financial information hey? And an ‘RNS Reach’ (i.e. not regulatorily significant) announcement hey? Ramptastic!...
Proxama (PROX), 13th December 2016: “We have been reviewing various options throughout 2016 to sell the Digital Payments division with a priority being to maximise shareholder value… The company remains committed to the sale and we believe that it will be completed”. Today: “the board has concluded that we remain the best owner for Digital Payments division… retaining this division as part of the group, with an updated strategy”. Haha – so having spent “throughout 2016” trying to sell the business and stating it “committed to the sale”, we’re now asked to believe that the company is actually “the best owner” for the business after all!?!...
AIM-listed Proxama (PROX) yesterday released an RNS Reach which described the launch of advertising campaigns on London buses. It all sounds terribly high-tech and exciting: it involves 500 buses using the company’s beacon technology and there is plenty of stuff about high click-through rates, a potential market of 2.3 billion passenger journeys a year to go for and how consumer targeting will mean adverts of quality and relevance. But…..
While one would not wish to curse the share price by suggesting that the technical setup on the daily chart of Proxama is about as good as it gets.
