# VGL - Vista Group International



## System (9 August 2014)

Vista Group provides Cinema Management Software, Film Distribution Software and Customer Analytics Software to companies across the global film industry. 

http://www.vistagroup.co.nz


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## System (24 October 2015)

On October 23rd, 2015, Vista Group International Limited changed its ASX code from VGI to VGL.


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## finicky (16 April 2020)

*VGL*
One of the stocks that Claude Walker takes an interest in - no current buy recommendation that I know of.
Capital raising announced to shore up the balance sheet against effects of cinema closures.

*Vista Group seeks $NZ65 million to improve balance sheet*
Tom Richardson
AFR

Cinema software group Vista Group is to raise $NZ65 million via a $NZ25 million placement to institutional investors and $NZ40 million entitlement offer available to retail investors.

The offer is on a 1 for 4.37 non-renounceable basis at $NZ1.05 a share and FX-adjusted Australian equivalent to support the cinemas business through the COVID-19 pandemic.

The application price is at at 25 per cent discount to the last closing price, with staff and directors subscribing for $NZ4.7 million in new shares in total.

Chairman, Kirk Senior said “The outbreak of COVID-19 and the actions taken by governments in response, are having, and will continue to have, a substantial impact on Vista Group and the global film industry more generally.

"The equity raising combined with the already announced measures to reduce operating costs, defer certain capital expenditure projects and cancelling the FY19 final dividend provide a comprehensive plan to strengthen and provide liquidity to the business in order to remain well capitalised."

All Data Mthly


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## finicky (16 April 2020)

Oh right, that was wrong - here he is on April 11 including VGL in a list of 10 stocks that he's bought tiny amounts of in case they do cap raises in which he could participate. Don't think he would mind ..
*
10 Stocks I Bought For A Potential Discounted Capital Raise*
11 Apr 2020  Claude Walker

*Vista Group* (ASX: VGL) is a provider of cinema management software currently reinvesting heavily into its products (at the expense of near-term profits). Not only that, but its growth engine, focussed on facilitating effective cinema advertising has proven bumpy over the last few years. Profit was down 10% to $10.8 million for the full year with debt of only about that figure. However, its free cashflow was very negative due to software development expenses and so it will probably need either more debt or to issue shares. I think it will probably opt for debt, but if it does issue shares I think it will be attractively priced given its enterprise value of about $190 million. I would probably pay around 20 times past year earnings for this company, though I note the cinema industry may face longer term challenges after this pandemic.


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## Dona Ferentes (16 April 2020)

finicky said:


> *VGL*
> Capital raising announced to shore up the balance sheet against effects of cinema closures.
> 
> *Vista Group seeks $NZ65 million to improve balance sheet*
> ...



You would have to think last August drop from $6 to $4 would have indicated a weak balance sheet, .. and a 25% discount... Well worth avoiding


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