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EVR Holdings: Hello - is this the best ramp ever?

By Cynical Bear | Tuesday 8 August 2017

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I’m not a huge fan of EVR Holdings (EVRH) but I have to give a hat-tip to those behind this ‘warrant selling machine’ for one of the best ramps I’ve seen in recent times. Congrats to all concerned.

I’ve mentioned before that this just appears to me to be a vehicle for various insiders, connected parties and participants in old placings to exercise warrants at sub-2p and sell at much higher than that. However, with the share price drifting downwards towards 6p recently and liquidity drying up, a new strategy was called for.

Obviously, it could have announced the launch of the app together with a viable business model but that would be far too much like hard work when one can just rope in the key players in the mainstream press to assist in a bit of PR.

First, at the weekend, Joanne Hart was kind enough to include EVR Holdings in her Midas column which was always going to get a few Daily Mail readers buying first thing on Monday morning despite the fact that she doesn’t mention valuation once and readily admits that it won’t make a profit for a couple of years! That’s pretty standard stuff though - the genius part came about yesterday with a source leaking to Jamie Nimmo (friend of the small-cap rampers) of the Evening Standard that Adele had acquired some shares in the business.

Absolute genius.

Pick arguably the biggest music star in the world at the moment and start the rumour that she has bought shares. Twitter and the bulletin Boards went crazy with Adele related ramps: “Rumour has it Adele has bought……”, “Hello Adele, welcome to EVR Holdings……” and “We’ll all soon be rolling in the deep….” etc.

Unsurprisingly, this has been picked up by news outlets all over the globe as any story with Adele in it is always going to generate a huge amount of clicks and for every few thousand clicks, I’m sure a couple of people may well buy a few EVR shares.

The response by the CEO, Anthony Matchett, was genius too:

“We often hear on the grapevine that well-known musicians and their managers have bought shares, but we rarely have any concrete evidence regarding their holdings as most shares are held within proxy accounts”

There is nothing that can be disproved in that sentence as he admits that he doesn’t have concrete evidence but it leaves one with the impression that Adele is merely the tip of the iceberg and there are hundreds of musicians queueing up to buy these shares.

It has worked an absolute charm. As I write, the share price has jumped up about 30% this week to 8.25p on these two pieces of PR. I particularly liked one rather naïve comment on the bulletin boards asking whether this was the start of the marketing of the Melody VR app. Hmmm, I doubt it somehow, but if you are in the business of selling shares rather than a VR app, this is exactly the sort of marketing one would expect.

It wouldn’t surprise me to see two things happen in the next week or so. First, an RNS stating that a number of further warrants have been converted - remember there are still 98 million to get through; and secondly. a comment from Adele’s team denying any knowledge of this business whatsoever.

I may be wrong about the latter and perhaps she has dabbled in the lower reaches of AIM for some unknown reason (or someone has given her some shares perhaps) but either way, I suggests she gets out before the inevitable Skyfall!

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