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Overview
Aim of the Company
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2016 Results
Lance O'Neill and CCCAL Who are City and Claremont?
Shareholder Return
What's the End Game?
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Directors

Lance O'Neill
Benjamin Edwards (appt 2016)
Nigel Duxbury (resigned 2016)

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e-primefinancial Debacle
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Investments

Syntaxis
Calix Limited
MediaZest
Alba Minerals
Andes Energia

Mediazest

The website of this media company is at mediazest.com.

EP&F have helped to keep Mediazest solvent over the years by way of loans and participating in share placings. As of June 2016 we believe EP&F holds 26,448,571 shares in Mediazest. However note that since EP&F rarely explicity state the amount of their current shareholdings the shareholding as of June 2016 could be more or less than this amount. At the current bid price of 0.12p these shares are worth 31,738. This compares with cost of investment of approximately 102,000 representing a paper loss of 65%.

As of the end of December 2015 Mediazest owes EP&F £35,685. This is identical to the amount owed at end of December 2014 and equates to over 3% of the company's net asset value.

As the table below shows Mediazest posts a financial loss every year. In fact, on average, it has issued shares for cash once a year since listing in 2005. It has never made a profit since listing and continually places shares for cash to remain solvent. As such it is an excellent candidate for an investment by EP&F. In fact if you had invested 1,000 in Mediazest at IPO your investment would be worth 2.70 as of 29/06/16. That's an impressive 99.73% paper loss.


Mediazest Loss Per Year

YEARTURNOVER (£million)LOSS (£million)
20060.8770.847
20073.1710.98
20083.8570.497
20094.4240.605
20101.9180.457
20112.5720.747
20121.9180.457
20132.5210.424
20141.8500.551
20152.9440.653
20163.1440.248
20172.8190.256


The company was brought to the AIM market by City Financial Associates in 2005. Nigel Duxbury and Lance O'Neill were on the board of directors owning respectively 4.9% and 6.1% of the company. As of June 2016 Lance O'Neill takes a £50,000 salary via his position as non-executive chairman. His last reported shareholding in Mediazest is 24,643,177 shares which equates to approximately 1.75% of the business.

The 2014 share placing probably deserves a special mention since shortly before the placing was announced Mediazest announced vague details of a contract win. Despite no financial details being mentioned the share price rose nearly 400% in a matter of days from 0.125p. to 0.5p. The placing was announced shortly afterwards at 0.35p.

At the current mid-price of 0.12p as of July 2016 Mediazest is valued at approximately 1.7 million. However the business has NEGATIVE tangible assets of £0.85M and, given it's a perennial loss-maker, the shares look overvalued.