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Pinnacle Technology Group Share Chat (PINN)



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2JohnAdams
Posts: 99
Opinion:Strong Buy
Price:6.88
Contract worth in excess of £6m
5 Jul '16
adept4 plc, the AIM listed provider of 'IT as a Service' ("ITaaS"), is pleased to announce that it has agreed a new contract with an existing customer which will run until May 2026 and will be worth in excess of £6 million in total revenue.

This thread has moved to...
http://www.lse.co.uk/ShareChat.asp?ShareTicker=AD4
 
2JohnAdams
Posts: 99
Opinion:Strong Buy
Price:6.88
RE: This Thread Has Moved...
30 Jun '16
This thread has moved to...
http://www.lse.co.uk/ShareChat.asp?ShareTicker=AD4

But here's what we know about the three main trading companies from the previous RNS's

adept4 generated revenues of £5.0 million (67% recurring) to 31 December 2015 and EBITDA of £0.75 million

Weston generated revenues of £2.8m (59% recurring) to 31 March 2015 and EBITDA of £0.22m

Ancar-B generated revenues of £2.2m (59% recurring) to 31 July 2015 and an EBITDA of £0.58m

So that's combined annual revenues for the group of c.£10m and EBITDA of c.£1.5m

And let's not forget that the cash balances of the group were £4.3m at 27 May 2016.

I'd say, very positive and an excellent outcome IMHO.

This thread has moved to...
http://www.lse.co.uk/ShareChat.asp?ShareTicker=AD4
2JohnAdams
Posts: 99
Opinion:No Opinion
Price:6.88
This Thread Has Moved...
21 Jun '16
This thread has moved to...
http://www.lse.co.uk/ShareChat.asp?ShareTicker=AD4

The Group Company's individual websites can be found here:-

http://www.adept4plc.co.uk/investor-relations/about-us
http://www.adept4.co.uk/
http://www.ancarb.co.uk/
http://www.thewestongroup.co.uk/

Very strong Board of Directors too - http://www.adept4plc.co.uk/investor-relations/board-of-directors

Gavin Lyons
Executive Chairman
Gavin Lyons, Executive Chairman, is responsible for the planning, setting and execution of the company’s strategy. Gavin has had a distinguished career in the TMT sector, most recently as CEO of Accumuli PLC, a successful buy and build in the IT security sector sold to NCC Group plc for £55m.

Ian Winn
Finance Director and COO
Ian is Finance Director and COO. Ian joined on 1 February 2016 from Mobica Limited, a software development and integration services company where he was Finance Director. From 2006 to 2015, Ian worked at Accumuli plc, one of the UK's leading independent providers of IT Security and risk management which was successfully sold to NCC Group plc for £55m.

Simon Duckworth, OBE
Non-Executive Director
Simon Duckworth, OBE DL, holds a number of non-executive positions in the public and private sectors and is currently Chairman of Barings Targeted Return Fund and the senior non-executive Board Member at the Serious Fraud Office (SFO). He was a non-executive Director of Fidelity's flagship European Investment Trust, Fidelity European Values plc, for a decade, and has sat on the Boards of a number of AIM listed companies as a non-executive director. Simon was a non-executive director of Accumuli plc from 2010 until its sale to NCC plc in 2015 for £55m.

Dr Tom Black
Non-Executive Director
Tom is co-founder and Non-Executive Chairman of Digital Barriers plc, an AIM-listed business focused on the surveillance sector and which operates in the global Homeland Security Market. Prior to setting-up Digital Barriers in 2009, Tom led the £12m management buyout of Detica in 1997 and the Group's flotation on the London Stock Exchange in April 2002. He then oversaw the acquisition of Detica by BAE Systems in 2008 for £538m.

Shareholders include:-

MXC Capital 25.00%
Living Bridge 10.00%
Hargreave Hale 9.5%
Andrew Barnes 7.9%
Darren Weston 7.9%
Michelle Weston 6.4%
Tom Black (NED) 3.9%
Simon Duckworth OBE (NED) 1.9%
Gavin Lyons (Exec Chairman) 1.8%
Ian Winn (FD & COO) 0.6%
freddie01
Posts: 37
Opinion:Hold
Price:6.88
New Thread
19 Jun '16
2JohnAdams
Posts: 99
Opinion:Buy
Price:6.88
Change of Name and Website
13 Jun '16
More progress...

Pinnacle Technology Group plc, the AIM listed provider of 'IT as a Service', announces that at the Company's General Meeting held earlier today, all resolutions were duly passed.

The Company's name will change to adept4 plc upon registration at Companies House and trading in the Company's shares under the new name will commence with effect from 14 June 2016. The Company's London Stock Exchange Tradable Instrument Display Mnemonic ("TIDM") will change to AD4.L. The Company's ISIN number will remain unchanged.

The Company's corporate website will be available at www.adept4plc.co.uk.
2JohnAdams
Posts: 99
Opinion:Hold
Price:6.88
RE: Spring Message from the Board
12 Jun '16
Agreed freedie01. With another large buy declared on Friday, I think the MM's will now need stock. So expect a price rise or a tree shake, but either way, I expect movement.
freddie01
Posts: 37
Opinion:No Opinion
Price:6.88
RE: Spring Message from the Board
9 Jun '16
It's very reassuring seeing these large buys constantly going through. Someone believes in the company going forward.
Rocka999
Posts: 6,298
Opinion:No Opinion
Price:6.88
RE: Interim Results
9 Jun '16
29th June methinks or about that
2JohnAdams
Posts: 99
Opinion:Hold
Price:6.88
Interim Results
9 Jun '16
We know it's going to be good, but does anyone know when the Half Yearly Report will actually be announced?

2012 Interim Results 27-Jun
2013 Interim Results 06-Jun
2014 Interim Results 26-Jun
2015 Interim Results 29-Jun
2016 Interim Results ??-Jun
2JohnAdams
Posts: 99
Opinion:Hold
Price:6.88
Spring Message from the Board
8 Jun '16
Thanks for that freddie01, great find and very interesting too.

Did you spot another single trade of £17,250 today?

Something going on behind the scenes? I expect an RNS and I also have a feeling that someone is going to cross a threshold and will have to declare very soon.
freddie01
Posts: 37
Opinion:No Opinion
Price:6.88
Spring Message from the Board
7 Jun '16
I've just been looking through the adept4 website and apologies if everyone has read this.

By adept4, 28th April 2016
2016 has started off at a pace!!! The software team in particular have an excellent order book already confirmed for the first half of the year which is great news. This is not only in the SharePoint area but also is specific application re-writes or new development engagements.

As you will hopefully have read, we were informed by Microsoft in early March that, at the end of February, we were in the top 3 performing Tier 1 CSPs in the UK, in the top 10 worldwide and 1st in the UK when looking at the diversity of services and customers we support. This is a fantastic endorsement of the capability of our infrastructure professional services team and our challenge is to remain or indeed improve on these statistics. We are utilising the scale of the Microsoft investment in their worldwide networking and data centre facilities for a number of clients now – and this is growing monthly and surrounding this with the adept4 service wrap which you are accustomed to.

2015 results have just been audited and I am glad to inform you that the contract base increased by 40% over the year and our turnover has increased by just over 7%.

Thank you very much for your business and continued support for adept4

http://www.adept4.co.uk/spring-message-from-the-board-2/
freddie01
Posts: 37
Opinion:Hold
Price:6.88
RE: Large buys
7 Jun '16
I'm afraid I can't offer any help on who's buying but they certainly have confidence in the company.
2JohnAdams
Posts: 99
Opinion:Hold
Price:6.75
Large buys
6 Jun '16
freddie01, I agree, happier here now too.

Who do you think is behind all the large single trades?

There was another £16,880 buy declared on the 3rd. Count another c.£100k in the past few weeks before that.

Someone is happy to mop up all sells and has been for weeks now!
freddie01
Posts: 37
Opinion:Hold
Price:7.00
adept4 plc
27 May '16
Although still a very long road ahead I'm happier with my investment than I have been for a very long time.

http://www.channelweb.co.uk/crn-uk/news/2459681/pinnacle-snaps-up-adept4
2JohnAdams
Posts: 99
Opinion:Strong Buy
Price:7.00
adept4 plc
27 May '16
Finally, all is revealed and it's great news.

Pinnacle Technology Group plc, .... is pleased to announce that it has acquired the entire issued share capital of adept4 Limited ("adept4"), a provider of cloud based IT services and solutions headquartered in Warrington.

· In the year to 31 December 2015 adept4 generated revenue of £5.0 million and EBITDA of £0.75 million
· 67% recurring revenue, expected to increase due to a growing long term support contract base and organic growth

· Strong free cash flow generation in excess of 90% of EBITDA

· Post completion, Pinnacle will have cash at bank of £4.3 million

· Following recent disposals of legacy Pinnacle trade and assets, the Company proposes changing its name to adept4 plc

With each move, this new Board has replaced old with new and loss-making with profitable.

And, Pinn now looks to be profitable, so with £4.3m left in the bank after this acquisition, I expect there's more to come, which is excellent. GLA
Rocka999
Posts: 6,298
Opinion:No Opinion
Price:7.00
RE: PINN is dead...
27 May '16
It'll still be sometime before we see some real progress but at least the BOD has got us on the right track, PINN legacies all behind us now and a clean slate going forward
dh42
Posts: 235
Premium Chat Member
Opinion:No Opinion
Price:7.00
PINN is dead...
27 May '16
...long live adept4!
So with last years massive and premature hype well and truly behind us,let's look forward to a completely different - and hopefully successful - company from the one before. I bought back in this morning after selling approx 6 month ago. Hope I don't regret it.
Rocka999
Posts: 6,298
Opinion:No Opinion
Price:7.00
RE: pinn
27 May '16
Won't be Pinn for much longer, roll on Adept4
Korg
Posts: 4,020
Opinion:No Opinion
Price:7.00
pinn
27 May '16
still overpriced. You can only sustain this level for so long on promise. 3-4p imo MAX. Expect a consolidation too to bring it back down.
Rocka999
Posts: 6,298
Opinion:No Opinion
Price:7.00
RE: Re: Progress
27 May '16
And now we can see why
2JohnAdams
Posts: 99
Opinion:Hold
Price:6.50
Re: Progress
25 May '16
Rocka999 & freddie01, I think it's holding up well because although it looks like there's a strong seller in the stock, there's also a very strong buyer in the stock too.

Someone's mopping up everything that's being offered.

Buys of around £130,000 from only six or seven trades in May alone!

This share would rise if only people would hold onto their stock.

That's because all these large single trade buys are probably from the same buyer!
webziggy
Posts: 1
Opinion:No Opinion
Price:6.50
Trigger's New Broom
25 May '16
So - under A Bonner, the plan appeared to be to acquire apparently poorly performing tech / comms businesses,
strip out the duplicated bits (HR, Finance etc) and integrate them into PINN, do some cross selling etc = make them profitable.

This seemed to work ok with some businesses, and they made some money for PINN.

For some businesses the "Bonner Plan" didn't actually make them profitable. (RMS would be an example I think).

With changes at the top, it wasn't surprising to see a change of strategy, and disposing of RMS and other services that were duplicated elsewhere in the business / were only in place for legacy reasons all seemed to make sense.

The recent, not yet integrated, acquisitions of AncarB and Westons could well follow the "Bonner Plan" - maybe successful, maybe not.

But with the disposal of everything else to Chess inc 27 staff means that with the exception of senior management, there's almost nothing left of what Bonner built.

PINN now appears to consist of 2 recently bought companies and senior management (directors excluded) who've been working in Telecoms / Connectivity sector - and not in the "IT as a Service" sector.

It's a bit like the "Triggers Broom" thing - it's the same broom - but it's had "17 new heads and 14 new handles".

What do I think this means? That the past performance of PINN will have no relation to future performance.

So the question we all have to ask is, do we think that merged AncarB & Westons are worth more or less than 6.5p?
Rocka999
Posts: 6,298
Opinion:No Opinion
Price:6.50
RE: Progress
24 May '16
Considering Brexit looms large over us all it's holding up very well
freddie01
Posts: 37
Opinion:No Opinion
Price:6.38
Progress
18 May '16
Price holding up very well considering.
jollyspeculator
Posts: 22,237
Opinion:Strong Sell
Price:6.25
korg
17 May '16
agree..unsavoury




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