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Compared to the rest of the rubbish companies on AIM, I’m often amazed why the ECK (a dividend paying, albeit small cap, with cash in the bank) shareprice struggles to make progress
Brilliant results today
Been left behind by the rally so far. The business is performing well, I suspect we won't have to wait long before this one leaves the launchpad
Decent enough update inline. Improved cash position. Looks like the foundation is there for growth particularly in the US. FY23 expected to rise significantly ahead. Modest PE compared to sector.
This looks extremely good value before todays news. Have been looking at P/E ratios in the sector. Lse wrongly (as usual) have that over 70. It is in fact down to around 20 and probably lower on todays update. Bango is on about 70, boku 30 and fnx on a mere 18. Obviously these comparisons are not always like for like with companies operating in different countries with different currencies and growth rates, but it is interesting as averaging for the sector. I think the sp had got way ahead in the 60p range but now it is definitely way behind. As we know markets are never very logical. 90p is a great target. I can see this happening as cash fades into extinction but that might be a few more years yet
6 October 2022 Company Comment
Buy
Eckoh (ECK LN)
Technology | Corporate Client Mkt cap: £122.2m | CP: 42p | TP: 92p
Strong H1 order momentum
Ahead of its CMD next week, Eckoh announces that H1 order levels are set to be in excess of £17m (PY £11.2m) or over 50% ahead of H122. We believe this is a result of strong organic growth coupled with a contribution from Syntec. As a result Eckoh maintains its guidance for significant revenue and profits growth in FY23 (we forecast 25% yoy growth in FY23 FD adj. EPS). This year has seen very significant announcements regarding Eckoh’s product and technology strategy with the launch of its Customer Engagement Security offering. This marks a major expansion of the product set and the globally addressable markets. We encourage you to attend Eckoh’s CMD on Oct 11th for a comprehensive update on these developments.
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Looks good to me. SP jump today.
I like FNX a lot but don't hold myself. I've only bought in here quite recently. Management have talked of good contracts and operational gearing. Assuming they deliver on what they have spoken about, when the SP turns upward I expect a rerating might be quite swift. I held CER who aren't a completely dissimilar business and that certainly moved quickly when it got the wind in its sails
Thanks f1. Will bare that in mind. I see companies like Fnx (I hold) , Boku, Bango all doing really well. Yet Eck with its presence in the States with potentially vast market appears to be stagnating a bit. Is it just a valuation thing?
Just taken another 50k. Plenty of stock available
I've taken 95k shares today. I think the market is starting to turn and I like this stock in particular
Dark/ECK in the tech sector I suppose, but about as different as it gets in that sector in terms of size, market share, and what they actually do. The whole market has got cheap, so whilst this was once quite expensive in its sector it is now pretty cheap especially considering its recent performance. There will certainly be predators looking for opportunities at the moment and expect to see more M&A activity in coming months. Definitely good value here. Not sure its a takeover or up for sale come to that. Dark only floated recently. Founder sold Autonomy to HP if you remember that? One of the directors in jail and extradition order by USA on Michael Lynch approved by Priti Patel. Be interesting to see if this approach is genuine. Has been a truly volatile share just like Autonomy before HP 'overpaid' allegedly
- Same / similar market sector if I’m not mistaken ?
A takeover bid for Sainsbury's would be of interest to an investor in the food/retail sector ?
No direct connection with ECK I'm afraid, are you posting out of general interest?
Receipt of Preliminary Approach
Mon, 15th Aug 2022 18:33
RNS Number : 0914W
Darktrace PLC
15 August 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS OF ANY SUCH OFFER.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
15 August 2022
Darktrace plc ("Darktrace" or the "Company")
Receipt of Preliminary Approach
The Board of Darktrace notes the recent media speculation and confirms that, following receipt of a number of preliminary and conditional proposals, it is in the early stages of discussions with Thoma Bravo, L.P. ("Thoma Bravo") regarding a possible cash offer for the entire issued and to be issued share capital of the Company.
Discussions are at a preliminary stage and there can be no certainty that any offer will be made, nor as to the terms of any such offer.
Under Rule 2.6(a) of the City Code on Takeovers and Mergers, Thoma Bravo must by not later than 5.00 p.m. on 12 September 2022, either announce a firm intention to make an offer for Darktrace in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
As a consequence of this announcement, an 'offer period' has now commenced in respect of the Company in accordance with the rules of the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.
Over the past few weeks this has gone up by 12 per cent. That's not bad. There has been steady buying and some sizeable buys. Why? Who knows something?
A few of today's trades -
21-Jul-22 13:13:25 45.00 92,000 Buy* 44.00 45.00 41.40k O
21-Jul-22 12:18:15 44.80 3,000 Buy* 44.00 45.00 1,344 O
21-Jul-22 11:55:43 45.00 128,700 Buy* 44.00 45.00 57.92k O
21-Jul-22 11:55:26 45.00 150,000 Buy* 44.00 45.00 67.50k O
Some chunky ones there.
Steady buying over the last few days. Nice to see so much interest turning into buying action. There seems to be a good bit of confidence about ECK.
These went through mid range. I would have liked to have known if they were buys or sells.
24-Jun-22 15:50:18 40.244 100,000 Unknown* 38.00 42.00 40.24k O
24-Jun-22 10:03:13 40.551 109,414 Unknown* 39.00 42.00 44.37k O
I can't answer your question Bootsox. Your postulation is a bit too deep for me.
I have a bit of a gripe - declaring a dividend that doesn't get paid until four months later. I don't think I know of any other company that makes the shareholders wait for so long.
"wooly-head stocks where nobody really knows what's going on)" - I've seen plenty of those.
Based on the premise that most AIM stock valuations are mainly puff and nonsense, I just had a thought that ECK, by declaring a dividend, make themselves more exposed to (less favourable) scrutiny in some way.
As if the dividend declaration becomes such a clear marker that it is easier to identify where the company is heading/how well it is doing (as opposed to the wooly-head stocks where nobody really knows what's going on). Almost to say, they (we) would be better off not declaring a dividend at all.
I'm not an accountant but I find ECK's accounts very detailed and comprehensive. Is this a consequence of boiling down the numbers to get to a point where they can actually demonstrate how the dividend gets paid?
Philpot always come across in measured and informative way.
Thanks Bootsox, I missed that.
Noel,
Re dividend timetable, from the full year results:
"Post year end the Directors are recommending that a final dividend for the year ended 31 March 2022 of 0.67 pence per ordinary share be paid to the Shareholders whose names appear on the register at the close of business on 23 September 2022, with payment on 21 October 2022. The ex-dividend date will be 22 September 2022. This recommendation will be put to the Shareholders at the Annual General Meeting. Based on the shares in issue at the year end, this payment would amount to £2.0m."