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Hello Debs as you are aware the return of capital has already been approved at the AGM however this coming Wednesday 27th June the court needs to approve and rubber stamp it and I can’t see any reason why it shouldn’t but due to the 700,000 new shares being issued after the meeting this could possibly reduce the cash amount returned. . The return of capital is £3.2 million and will now be diluted by the 700,000 new shares but it’s so nominal on 93,239,755 shares it doesn’t make a great deal of difference. According to my calculations its now 3.4856 p per share so hopefully they will dip in to the £900000 cash reserve and round it up to 3.5 p. And yes I suspect the share price will fall accordingly but not for long as this is a solid company with excellent prospects.
Interesting thought Optimus. I don't know the answer! Is the meeting to approve the return of 3.5p per share or a sum equivalent to 3.5p per share?? If it is the latter then we will get slightly less than 3.5p. Good point - not long to wait to find out though! It will be interesting to see what happens to the share price in the weeks following the dividend. I guess it will go down the last week of June then creep back up after that. I think it is still a good buy and long term hold. However is it good enough to reinvest the 3.5p into C21?
Yes this is a small dilution and the company is solid with good prospects but does this now affect the figure of return of capital of 3.5 p per share. The return of capital in my view was always a way for the directors to receive a tax free lump sum from the company and as share holders we also benefit. This in my view does appear to be shifting the goal posts a little. In the RNS of the 4th May paragraph 4 which talks about the return of capital copied and pasted below please read from assuming that no ordinary shares are.......... The proposed Return of Capital has been structured so that Shareholders will receive their return in the form of a capital repayment following a Court approved reduction of capital of the Ordinary Shares. Under the Reduction of Capital, subject to the approval of Shareholders at the Annual General Meeting and the confirmation of the Court, the Company will reduce the nominal value of each Ordinary Share from 10 pence to 6.5 pence. The Return of Capital will involve the repayment to Shareholders of 3.5 pence per issued Ordinary Share. Therefore, assuming no Ordinary Shares are issued or cancelled after 3 May 2012 (being the latest practicable date prior to the publication of the circular) approximately £3.2 million, arising from the reduction in such nominal value, will be repaid to Shareholders on the Register at the Record Time (which is expected to be 5.00 p.m. on 27 June 2012) pro rata to their shareholdings............. Does this now mean the return of capital will be less than 3.5p and by how much or have I got this out of perspective? Any thoughts please
The newly issued employee share issues represent only about a 0.7% dilution of the 93 million shares in issue so very negligible. Why wasn't it raised at the agm? It is normal to buy these small numbers of shares in the market and hold them as treasury shares before issue, so why didn't they do that? It all seems a bit financially niaive. Anyway still a great company with very good share price prospects. Fill yoiur boots on any share price weakness - if ever there is one!! IMO -GLA
Your thoughts on todays RNS............?
Wednesday 20 June, 2012 21st Century Tech Issue of Equity RNS Number : 7245F 21st Century Technology PLC 20 June 2012  20 June 2012 21st Century Technology plc ("21st Century" or "the Company") Issue of Equity The Board of 21st Century Technology plc announces today that application has been made to the London Stock Exchange for the admission of 700,000 new ordinary shares of 10 pence each ("New Ordinary Shares") to trading on AIM. Admission is expected to take place on 25 June 2012. 200,000 New Ordinary Shares have been issued and allotted pursuant to the exercise of options by employees, at an exercise price of 10 pence per share and 250,000 New Ordinary Shares have been issued and allotted pursuant to the exercise of options by employees, at an exercise price of 12.5 pence per share. These New Ordinary Shares will rank pari passu in all respects with the existing issued ordinary share capital of the Company. In addition, 250,000 New Ordinary Shares have been issued and allotted pursuant to the exercise of options by Mr Wilson Jennings, a director of the Company, at an exercise price of 10 pence per share, and will rank pari passu in all respects with the existing issued ordinary share capital of the Company. On commencement of trading, Mr Jennings will hold 1,034,921 shares in the Company representing approximately 1.1% of the issued share capital Following admission of these new ordinary shares, the Company's issued share capital will comprise 93,239,755 ordinary shares of 10 pence each. This figure of 93,239,755 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. Ends
The deal will see C21 supply forward facing CCTV cameras for deployment in the 182 drivers cabs in XC's fleet of trains operating on the CrossCountry network. Investors, no doubt frustrated commuters themselves, welcomed the news, pushing up the firm's share price 4% in early trading on Monday.
People stealing wiring from train lines had better watch out after CCTV firm 21st Century Technology (C21) said it had been awarded a contract potentially worth in more than £1m by XC Trains. The latter operates Arriva UK's CrossCountry franchise, which covers around 1,500 miles and calls at over 100 stations.
Organic growth - always the best way to develop a company, good product, good company - well run etc. Is there any competition out there?
Details of the AGM http://uk.advfn.com/news/UKREG/2012/article/52279738
the AGM is, 1st june? and when the the 3.5p will be paid? Just looked at shareprice.co.uk and got a shock LOL http://www.shareprice.co.uk/C21/21ST-CENTURY-TECHNOLOGY-PLC
Extract from financial highlights showing the dividend is to be 3.5p (subject to approval at the AGM) :- · Sales up 29% to £14.0m (2010: £10.8m) · Operating profit from continuing operations up 72% to £1.5m (2010: £0.9m) · Profit after tax from continuing operations up 89% at £1.2m (2010: £0.6m) · Earnings per share more than doubled to 1.31p (2010: 0.61p) · Year end cash up to £2.8m from £1.1m at the start of the year · Contracts exchanged on sale of freehold property · Distribution of 3.5p per share by way of return of capital to be proposed at the forthcoming AGM
sorry heard looks better with an 'a' in it!!
Well riddler you didn't have to wait long for C21 to break 19p, although I don't what has triggered the interest? Lets hope it is good information that is causing the rise. Have you herd any whispers? We know Peter Gullyhammer has been stake building but more than that it would be good to know. Good about the special divi and the chance of ongoing annual ones. I hope to go to the AGM this year to hear what the plans are for the next phase of development.
This seems to have gone under most peoples radar. Special divi of 3p and the hint of regular dividends ongoing, with a cash generative business ready to expand deeper into Europe. A good portfolio of business support services at the sharp end of the market with products that give quick payback to the businesses who buy them. Good long term share - I have been trying to work out who could front a takeover, venture capitalist or a transport co? That would really get the wind into the share prices sales. I am a long term hold of the shares as I think they will now be good with steady returns .
I read last week's RNS that he DROPPED below 29 % not went above it , then sold a bit more to take him down to todays figure . I'm new to C21 , so may be wrong i.e. I presumed he'd been at 29% for a while.
PLEASE CAN SOMEBODY TELL ME IF I BOUGHT IN TODAY WOULD I STILL BE ENTITLED TO THE 3.5 PENCE DIVIDEND THANKS IN ADVANCE.
I think the way to veiw Peter Gs holding of C21 is that he has been supportive of the company during its transformation and now that support is no longer required he will divest himself of some of his holding. Until this stock over hang is cleared and redistributed in the market this will hold the share price back for a while.
Could it be to buy more Teg,double his money,then back in here?
Cheers
Perhaps he now intends to buy more TEG,as the mm are holding it for him?
Looks like he is starting to wind down his position. Unitl we know the level to which he intends to sell this will hold back the share price.
Importantly, back over 18P ... Riddler - I take you are referring to the RNS of 30/03/12 http://uk.advfn.com/news/UKREG/2012/article/51835932 Is he already a Board member? That normally seems his motive.
Encourgaing to see support level at 18P
Recommended as a buy today on growthcompanyinvestor.co.uk. Very interesting to see who some of the main shareholders are......Slater investments, Peter Gyllenhammar........big hitters!. EPS, P/E, PEG all good. Not too many shares in issue, market cap small, good relative strength (within 20% of years high). Hmm, very interesting. Need to do some more research, but definitely on my radar. Hope the mm won't drop the sp by the 3p. forecast to be returned to the shareholders but wouldn't be a bit surprised. Good luck all. Regards CM