XLM & Dividend payment

Wednesday, Oct 18 2017 by
5


XLM has had a strong recent run but there seems to be a delay in the last dividend payment being paid out.

The company are blaming the bank but I'm just wondering if any other fellow Stocko subscribers would read any red flag in this issue or not ?

Regards


Filed Under: Dividend,

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XLMedia PLC is the United Kingdom-based online performance marketing company. The Company focuses on paying users from multiple online and mobile channels and directs them to online businesses who, in turn, convert such traffic into paying customers. The Company's segments include Publishing, Media and Partners Network. The Company owns over 2,000 informational Websites in approximately 20 languages. Its Media division acquires online and mobile advertising targeted at online traffic with the objective of directing it to its customers. It buys advertising space on search engines, Websites, mobile and social networks and places advertisement referring users to its customers Websites or to its own Websites. It manages marketing partners, whose role is to direct online traffic to its customers. Its partner program enables affiliates to have a single point of contact for directing traffic. more »

LSE Price
181p
Change
-4.2%
Mkt Cap (£m)
386.2
P/E (fwd)
16.9
Yield (fwd)
3.3



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23 Posts on this Thread show/hide all

nickwild 18th Oct 4 of 23

I'm surprised that they haven't issued an update. Poor investor relations given the large number affected.

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willhampson 18th Oct 5 of 23

In reply to Housemartin2, post #3

That could be the worst case scenario. I'm still not sure that it would prove a huge issue, beyond considerable embarrassment and a slight loss of credibility. It is fairly easy to unwind these transactions and/or recover under the negligent party's indemnity insurance.

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Housemartin2 18th Oct 6 of 23
1

In reply to nickwild, post #4

Problem maybe that they have nothing more to give, which is troubling. However I cannot really see it all being a major issue but silence reduces my confidence by the day

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nicobos 18th Oct 7 of 23
1

If it's just an admin error, surely this is a top up opportunity to buy some at a discount ?

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JohnEustace 18th Oct 8 of 23

I sold late on yesterday so someone picked up my shares at a discount. I was prepared to give them some time to resolve things, but not much.
The whole foreign listed AIM thing meant I didn't have much extra tolerance for risk. Hopefully it will be resolved soon.

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willhampson 18th Oct 9 of 23
3

The CEO has just bought nearly £100,000 in shares; average price of 157 pence. I think that's your confirmation that nothing nefarious is going on.

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peterclothier 18th Oct 10 of 23

I spoke to one of the people on the bottom of the RNS just now. They hope to have an update in the next 24hrs. Capita registrars working hard to resolve the payment issue. Guess the bank handling it? Barclays

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nickwild 18th Oct 11 of 23



I just spoke to XLM pr. He said problem is with registrars bank and that his view was "bank acted very unprofessionally" in not notifying XLM of issue in a timely manner.

Also see RNS today

XLMedia (AIM: XLM), a leading provider of digital performance marketing services, has been notified that on 18 October 2017, Ory Weihs, Chief Executive Officer, purchased a total of 63,508 Ordinary Shares at an average price of 157 pence per share. Following these purchases, Mr Weihs now has a total beneficial interest in 3,940,120 Ordinary Shares, representing 1.93% of the issued share capital of the Company.

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tomstone80 18th Oct 12 of 23

seems like XLM has been the victim of recent (last few years) banking madness. Bank's change their terms even for large corporate clients daily and make conducting business just a little bit harder. Although here I have to say this seems to be a unique case of hurting a company and its share holders.

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Housemartin2 18th Oct 13 of 23

In reply to peterclothier, post #10

Ah so its Barclays. Well that explains a lot. I will just await the divi.

Unfortunate that it has happened to £XLS given the acceptability problem it has to climb as an Israeli company on AIM. However I think it says something about its improved reputation that this problemet has not hit the price more.

Long £XLS

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robinleggate 18th Oct 14 of 23

Also worried. But a heavy sell off today was reversed by the close,which I see as a reassuring sign. Especially with the ceo splashing out on more shares

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Edward John Canham 18th Oct 15 of 23

Sold out today.

As far as I'm concerned the silence from the company is deafening (2 days for a bank transaction is eons) - not worth the risk. Tomorrow could bring a major change - just look at the volume compared to normal.

Hope I'm wrong - I liked this share.

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garbetklb 18th Oct 16 of 23

I've never had a position and my scepticism re overseas companies listed on AIM means I've missed some excellent results - and some shockers.
I'm amazed that the company wasn't aware of this before the dividend miss or, at the very latest by late on 13th. Surely they could have issued the RNS late on Friday, maybe after trading hours?
For nothing to come out on Monday morning and onlyl after the close on Monday would worry me a lot and for it now to be 2 days later with no update suggests that something MAY not be right.
Re the CEO purchase, I would take comfort from there being 2 trades as described showing on the LSE site.
Hopefully it's just a glitch - but with bad communication.

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shine66 20th Oct 17 of 23

When I held XLM the divs were always late!

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dominic higgins 20th Oct 18 of 23
2

Re XLM, I emailed AJ Bell on Thursday and received their reply below so all in process:

Dear Mr Higgins

Thank you for your enquiry.

I can confirm that the dividend was paid to us via Currency cheque.

Please be advised that it typically takes 10 working days to clear + 1 additional day to FX.

We apologise for any inconvenience this delay may cause.

If you have any further queries, please feel free to contact us.

Yours sincerely

Max Gibson
Dealing Services Team

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Housemartin2 20th Oct 19 of 23

In reply to dominic higgins, post #18

Good grief. Are we back to the dark ages ? This must be a new process by XLMedia (LON:XLM) because I always used to receive my divis from them, credited sometime during the course of the dividend day. I use TDW

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tscott 25th Oct 20 of 23

Someone from the investor relations dept at XLM phoned me today in response to a request. She said the dividend had been debited from XLM and paid to Capita registrars where the problem resided with the bank the registrars use. The company is urgently trying to resolve the situation and hope to put out a statement in the 'next 48 hours' although no guarantee as they dont want to put out a holding statement for the sake of it. She assured me the problem had nothing to do with the underlying business or XLM itself.

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Logic 25th Oct 21 of 23

I am long XLM, and it is okay for me if the dividend is delayed, I was not planning on spending it soon. However, it is a bit of a joke that it can take that long to reach owners after it has been paid by the company, and I am starting to feel a bit bad for XLM. It reminds me of what someone said about banks, if you owe them money they need it yesterday, if they owe you money you will get it within one to any random number of working days.

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rhomboid1 25th Oct 22 of 23

The same problem occurs with Somero Enterprises Inc (LON:SOM) and Capital Drilling (LON:CAPD) both apparently pay by cheque & because it’s drawn on an overseas bank there’s a c. 10 day delay while they wait to check the transfer is not reversed, Stone Age nonsense but I believe there have been expensive cock ups in the past which led to these strictures

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nicobos 25th Oct 23 of 23

RNS out.

It's been paid.

Crisis over.

Good top up opportunity for the savvy.

---------------------------------------------------------------------

Confirmation of Payment of Dividend

Further to the Company's announcement on 16 October 2017 (RNS number: 7442T), the Company confirms that the processing issue at the bank with respect to the Company's interim dividend payment has been resolved and that the cash dividend of US Dollar ("USD") 4.0226 cents per share is expected to be posted to Shareholders today.

Notwithstanding that the bank's processing issue was beyond the Company's control, the Board regrets the inconvenience caused to Shareholders.

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