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Harwood & Turner bought in after not being able to take this private. I would now think that the price is right for another take-over approach. Would think that this is worth now worth a punt.
Ji
I maybe answering my own questions here but these results are up to the 31st March 2021. Since then we see inward cash of 3.7m plus 0.1m. A forecast balance from EPS of 23.4m and enhanced numbers if targets are met in now the next 20/30 months. How is the 4.9m intangibles loss linked to the LLP offer.
Harris left because Turner et al wanted him gone. After this set of results I think a breakup is possible with Turner and LLP carving up FCRM.
HC
HC
(Sharecast News) - Fulcrum Utility Services updated the market on the sale of its domestic customer gas connection assets and associated meters to ES Pipelines on Tuesday, confirming the transfer of the third tranche of connection assets to ESP on 1 June, for a total consideration of £3.8m.
The AIM-traded firm said cash of £3.7m would be received on 1 June, with the retention balance of £0.1m expected to be received on 31 May 2022.
It said the cash received strengthened its balance sheet, and supported its strategy and growth ambitions.
In addition, the group said it had received a further £0.1m for the first and second tranche of assets transferred under the ESP asset sale.
That additional payment was a result of the group achieving the first enhanced payment milestone under the asset sale agreement.
Fulcrum said the total gross consideration receivable was expected to be around £49m.
A total of £25.8m had been received to-date, leaving about £23.2m to be received, with the majority expected to be collected over the next two-to-three years.
The arrangement with ESP also included further milestone targets which, if achieved, would trigger additional enhanced payments of up to £3.9m over the remaining term of the contract.
Harry
The Annual report may help.
I did scan th RNS and thought that the write down related to intangible assets.
Just guess work but maybe "know how" came in with Dunamis.
Though valued - seen as having no value at YE.
And where is the money going?
Y did Harris just walk?
I do keep an eye on this - but would need to see the mobsters out b4 considering any investment.
Ji - Can you make sense of this. The 4.9mill impairment from LLP offer. This looks like smoke and mirrors stuff. HC
Fulcrum Utility Services Ltd - energy and multi-utility services provider - For the year ended March 31, swings to pretax loss of GBP11.5 million from profit of GBP1.3 million, driven by one-off costs of GBP6.4 million, including an asset impairment of GBP4.9 million incurred in response to a proposed tender offer from Harwood Capital LLP. Revenue grows 2.2% year-on-year to GBP47.1 million from GBP46.1 million, despite effect of Covid-19.