AMU quite rightly appears to be developing a small following, hence I have updated the header with a 'carrot' and the charts.

PTH

UK smallcap opening - Air Music & Media gains on Investors Chronicle tip
AFX


LONDON (AFX) - Buyers came for Air Music & Media, 1.13 ahead at 7.75 pence, after the Investors Chronicle advised readers to 'buy'.

With trading looking strong at the music distributor, and a share price target of 13 pence from broker Seymour Pierce, the shares look oversold, the IC concluded.

Explosive

I'm still holding onto these shares and the large losses
since buying in. Still cannot understand why the
SP is at the current low levels.

Will be attending the AGM on the 6th October 05 and
the interim results are expected at the end of November
05. Hopefully, some good news is around the corner?

I'm prepared to wait and hold onto these shares
because I believe they will eventually come good?
Although it is not easy having patience when they
have underperformed for so long.

All the Best.

1704 - Thanks for your posting.

Where did you find out about the AGM, did you receive an invitation to attend from AMU? My holding is relativly small only 10,917 shares and I use SelfTrade a execution only broker. Do you need to hold a certain persentage of shares for a AGM invite or can anyone attend?

Explosive

I hold my shares in a nominee account and so my
Stockbroker has to send me a 'Letter of Representation'
confirming how many shares I hold and confirming
I have the right to attend the AGM as a shareholder.

I am waiting for confirmation about the date and the
location from the Registrars. The AMU website shows
that the 6th October 2005 is the date for the AGM
but it has not as yet been confirmed.

The Company Registrar is Neville Registrars Limited
and they can be contacted on
Tel: 0121 585 1131

I think you should contact them in order to get the
right advice.

All the Best

Personally I am happy to hold, it's just a matter of time before this takes off. Regards goal.

Goal

Good to hear from you again and I like you I think the SP
will eventually come good. However, I have shared the
same sentiments since Feb 2005 and the reverse has
happened which is worrying me. The recent results were
good and the fundamentals are good yet the SP is in the
doldrums. It makes little sense to me and I hope I hear
some positive news at the AGM to reassure me that this
is worth holding onto.

I think some of the main reasons why this share continues to be
overlooked is because of the following:

1. The wide spread that exists between the 'buying' and
'selling' prices. The company needs another broker
to begin coverage of this share. The SP has to rise
buy quite a perecentage to make a profit especially
when dealing costs are added onto the purchase costs.

2. The lack of RNS Statements updating shareholders and
Institutional investors about the progress of the company.
For example, before the recent results the previous RNS
was released at the end of Jan 2005. Why don't they
release trading updates every 3 months to get the
company on the radar screens of more City Institutions.

Just my personal views. Would be interested to hear others.

All the Best.

1704 thanks for the advice, its appreciated. Also I agree with your points above. I have too wondered why RNS are short and far between. It would be nice for a quarterly ops update or a trading forecast to put the gremlins to rest.
My personal view when looking at AMU, the business at times appears to be run like a family show! This to me is why AMU are often missed off the city radar...

14 July Final Results.....

John French, Chairman of Air Media, commented:

"I am pleased to announce that Air Media has enjoyed another record year of
growth in profits. The contribution of Music Box has had an impact on the
Group's revenues during the period of strongest trading in a seasonal business.
From an operational perspective, the acquisition has demonstrated that there are
a number of synergies, particularly in distribution, to be further exploited.
With the continued strong performance of the Group's North American operations,
the Board will be recommending a maiden dividend of 0.012 pence per share for
the second half-year trading period.

"The Board has completed a strategic review and restructuring as part of its
commitment to driving distribution synergies across the enlarged group. As a
result, the Group has started the new financial year aggressively addressing
areas contained within the strategic review and will continue to examine any
acquisition opportunities that could further enhance the development of the
Group."

Powerful statement as I'm sure your agree, but the followed up with Board changes and Dividend declaration to date. What happened to the momentum? Maybe were experiencing a slowdown in what our chairman calls a "seasonal business"!!..

Explosive

Good points that you raised.

The above statement from the Chair makes painful reading
to me as I was sure the SP would rise to 10-13p after the
results were released. Instead the opposite happened and
now they have been stuck in the 6-6.50p trading range
since. I think the timing of the Board Changes did not help
either.

I'm not sure what we are experiencing at the moment but
unless we hear some positive news soon I fear the SP will
be stuck at these low levels for weeks/months.

All the Best

Very large sell of 5m shares went through at 4pm.
As long as it was not one of the Directors we may
see some upwards movement? Please G-d! Please!

1704 looking on the positive side though AMUs Final Results also stated the following......

Results for the 12 months ending 31st March 2005, include a six-month
contribution from Redworth and its subsidiaries. This period includes the
strongest trading months in a seasonal business. The Group's activities have
generated a 216% increase in turnover to 49.8m (2004: 15.8m) with a 126%
increase in profit before tax, interest, goodwill amortisation and exceptional
items to 4.3m (2004: 1.9m). Acquisitions contributed 35.4m to turnover and
4.1m to profit before tax, interest and goodwill amortisation. Normalised
earnings per share are 0.90p (2004: 0.68p). In view of this performance the
Board is recommending a maiden dividend of 0.012 pence per share for the second
half-year trading period.

With no indication or an announcement of a profit warning theres no reason to believe that the momentum stipulated above has changed..... The dividend has also remained the same hinting that AMU are tracking where they want to be!!!

I am holding out for positive news especialy regarding distribution lines being in place moving into Q3 and Q4. As AMU have stated many times their business is seasonal. With the run up to xmas and year end, it will be distribution channels to market which will sink or make waves in the market place..... ;-)

Exposive-

Thanks for your post. I agree with the points that you raised.

As far as running the company on a profitable basis is concerned
you cannot fault the Board Members. However, having said that after
the results over 2m was cut from Broker Profit Forecasts in the year
ending 31 March 2007 because of lower budget DVD sales. Pre-Tax
Profits are expected to be 5.10m in 2006 and 5.60m. If these
forecasts are met without any nasty surprises hidden in the results
the SP could move sharply upwards.

Has anyone looked at the results from Home Entertainment
Corporation (HET) released yesterday. The company is listed
as a General Retailer of DVD Film Rentals. HET has a Market Cap
of 21.38m but its shares are trading at 1.18p the dividend
payment is just under 7p. However, the pre-tax profits forecasts
of AMU are set to be higher HET over the next couple of years.
I just wish the share price will be too.

Seymour Pierce and Teather and Greenwood are the covering
analysts for HET. The fundamentals and broker forecasts of the
company and AMU can be viewed by clicking on the Digital Look website
(www.digitallook.com). Any comments would be welcome.

Logging Off now.

Won't be anywhere near a computer tommorrow so will catch up
with you all on Friday.

All the Best

1704 - I agree with your post. With one exception of the financial brilliance of the Board. Noted with last Final Results is the rather high level of debtors 11m+, this potential revenue needs to be addressed. 2004 debtors were 5.7m so a considerable increase, there is no indication of how much of the 11m was gained with the acquisition of Redworth either!!

Lets see how Redworth Ltd and Music Box have been integrated and if the synergies particularly in distribution have been addressed/exploited.

Digital Look forecast figures show eps growth at 05-7.35% 06-11.11% & 07-13.00% all positive. Seymore Pierce covering broker also recommends the share as [Strong Buy] a position held for the past 3 months+.

Like yourself I can't see why the sp has fallen, RNS may be lacking in news but as they say no news is good news!!

Another day of sells in AMU 154,368 to be exact. Nothing to worry about here just looks like small investers...

Thanks for your last post-Explosive.

Interesting 'buys' going through this morning.
400k, 100k and 50k. The price spread has also
shortened. What is going on here then?

1704 - I see no announcements, can only assume that the markets waking up and expecting positive news.... Buys are 2:1 to sales approx (300K diff)..

Took a masive loss on Berkley Scott earlier today after reading there trading statement, mind you can't complain the rest of my portfolio is doing well to cover it.... At 5.75 AMU is a snatch so may be buying more meself very soon....

Exposive

Would love to know what has led to the buying spree
today. However, typical of the MMs to not to reflect
the buying of shares in a upwards movement. Are they
afraid of heights or something.

I'm feeling a lot more happier about holding these shares
than I was a few days ago. Anyone had a look at the
results for Rank Group released today. They have been
looking to sell their Deluxe Media susidiary which sells
DVD Films for over a year and are currently in negotiations
with an unnamed suitor. Hmmmmm!

Does the Deluxe Media susidiary make a profit I ask ?

Skyhigh your answer below regarding Ranks Deluxe Films.

Overall, Fridays interim numbers, at the pre-exceptional level, came in as expected. But weakness in the gaming business, where profits fell despite a 21 per cent rise in sales, was something of a wild card. More disappointing was what the management had to say on the Deluxe films and media businesses. Deluxe media, which continues to lose money, is due to be sold by the end of the year. But it may not be. The much larger films operation, due to be spun-off, will also now be sold - perhaps.

Source http://news.ft.com/cms/s/aa63f87c-1b99-11da-9342-00000e2511c8.html

Mabe a loss maker for Rank a gaming business but I'm sure Deluxe Films would complement AMUs inventory which already contains structure to take straight to market!!

Explosive...Thank you for the answer... we'll see what happens...

Buys today - 1,473,500 Sells - 343,679................ 1704 a :-) for the weekend!!

I'm unsure whether or not AMU are in negotations with
Rank Group for Deluxe Films but I reckon something must
have triggered the 'buying' spree today.

Correct me if I'm wrong but AMU have made at least one
acquisition to its business every year. I think the last
acquisition they made was in October 2004 when they
bought Redworth Ltd. About time they added another
one methinks. I'm hoping for a share consolidation
to take place after the next major acquisition as we
have too many shares issued at present and I reckon
it is having a hegative impact on the SP.