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Just checking in. Very quiet board and I can see why. The company appears to be slowly but surely using up all its cash. I cashed out in April 2023 for 47p, taking an overall loss, since when the sp has dropped another 50%+.
Is the destiny of this company to delist and repair itself in private hands? Views most welcome.
makes the 'seller's out' claim from lunchtime look a bit silly.
Looks like Cannacord selling out to me (13.5%)
A placing could be on the horizon but my guess is this isn't it, I think they needed liquidity and after Cannacord put a huge sell order in, MM's drop the price to whatever CC were comfortable with and create the liquidity frenzy, probably be a TR1 later, risks are if they have more to sell then it's going lower, if its a placing then its going lower, but if not and they are out then probably a bounce back to 55+
would explain why the recovery is so slow, even with the volume of buying.
Quite of buys at the moment,sp not moving
The recent half year results were awful - a statutory loss of £7.7m for the 6 months ending 31/01, cash down from £24.1m at 31/07/22 to £12.6m...
Drops like this always suggest a placing has leaked, either way it can't be far off. I remember when this fell in March 2022 and they had >£30m cash, incredible to burn that kind of capital in the current environment when they know how hard raising money is...
*say
Yup. Crazy sh*t.
I had high hopes for Essensys and I could easily buy back in but I need to understand what's going on first.
Did I day? Hate AIM!
...is a bit baffling. A leak? Not sure. It could be Schroders selling (they took a 5% stake, out of the blue, last year) but maybe they've lost patience and see more systemic risk within the financial system (a liquidity event on the horizon?). Could be the canary in the coal mine, hence the sell-off? Disappointing, nonetheless, given the hard-fought recovery recently.
Unhooked - I'm with you on this.
Over and out.
The company are going to have to issue a statement soon if there's nothing happening, or come clean if there is.
Well, I've joined the herd and sold out.
Just can't take the risk.
Hate AIM!
Now -22%
Distressed seller?
Or someone has got wind of something and offloading before it becomes common knowledge...
Make that -19%.
Can't see any news.
Very illiquid share.
What's going on 'ere then.
11% drop from nowhere. hmmm
Great minds...!!
No posts on this board for 4 months and we both posted in the same minute!
Agree though - always like the business model and potential of ESYS
In the last 5 sessions - still relatively low volume but it doesn't take much to move the SP.
Looks positive
... the SP is waking up. Down roughly 80% from this time last year. Trading update due early March I think. Perhaps ESYS has finally turned a corner. We need a whopping 400% increase to get back to where we were in February 2022. Should test the 100p level in the near term though. Looks like a screaming buy to me, but each to their own.
Fair enough. I was invested, but luckily jumped ship a few months ago. Have been watching from the sidelines since, but like the company and concept. Can't believe the SP to be honest. I would say 2024 will be the transformational year, and we might even see a dividend declaration then. Regarding MF, yep his holding is substantial. Can he - will he - hoover up more shares? Not sure. Actually, I always thought ESYS would be an attractive T/O target from a larger US competitor. At these prices and with GBP in the doldrums surely this must scream buy to someone?
That's a reasonable take. ESYS is surely the future, but my concern is the risk I take while waiting. Even the cash balance may not prove sufficient defence in the context of (say) 2 years of losses.
I'm also thinking, as I said before, that Furness can't support the share price with any further purchases without breaching the 30% limit, forcing him to make a mandatory offer.
I don't know, I do like the company and the space it's in, but I've cut my losses and will watch from the sidelines. Good luck if you're invested.
Yep, nearly bought in yesterday, but thought I would let the dust settle a bit first. Boy, am I glad I did! But your analysis is similar to mine. Cash in the bank healthy - no debt. Mark Furness (for me, an impressive CEO) has major skin in the game. Relatively few shares in issue/free float. Much of their growth (and therefore revenue) is being generated stateside, and with GBP weak, this must be good for bottom line revenue figures. Loss was a worry, but much of the capital spend was to foster growth (bringing in the personnel to propel the business going forward). 2023, even 2024, might prove to be difficult, but for me ESYS is the future and at current SP you're buying a bargain. Just my take, fwiw.
Delayed negative reaction to yesterday's Full Year Results.
I've been de-risking my portfolio of loss-making UK small caps, and ESYS looks like another prime candidate for culling. My worry is I have no feeling or sense of what might prop up the share price.
What's stopping me from selling is the knowledge that the company has net cash of £24m on a market cap of just £30m...
Think eventually the company will come good, but could still drop substantially from here in the interim.
Tricky one, this decision.
CEO Mark Furness is on 30%. Am I right in thinking he's limited to 30% and can't buy any more without bidding for the whole company?
Nm
...today, and last Friday. Someone accumulating? More directors' buys? Looking like support at these levels at the very least.