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20k trade was director Emma Kane. RNS to confirm. Another ut trade buy today. Hmmm
So they have bought out rest of Newington and merged it with Newgate UK. With both brands to be rebrand Sec Newgate in due course. Newington now in Newgate's old hq. Which we already knew.
Trade wise. There is suddenly a lot of UT trades. All seem to be buy trades. 1-2k volume is not a great deal. Even 20k volume is only £10,000. See whaere this goes and if a TU arrives any time soon. Does this mean someone is auctioning off shares? If they are buyers seem happy to pay 50p now.
For some reason I can't access any of the group's Twitter pages. Not sure what that means.
Results RNS today, followed by further Dir buying news.
Today's RNS - good to read of their continuing expansion.
Just getting on with quietly building the business.
Very under-rated.
Recovering some lost ground here. Quite unexpected. With decent prfits now forecast too. Makes 12-14m value seem very low. See what happens.
Hi Ripley,
I guess that you came by SECG by way of their takeover of PTCM.
I think that you will have received 1 (one) SECG share for every 88.4955752 PTCM shares which you held.
Does that help make some sense of whatever number of SECG which you now hold?
I was wondering how i got these PTCM...
Up 27% today to 57p .
No idea of my loss or gain maybe here .
RNS news.
Steady buys are moving this higher and the first signs of chunkier taking will really speed up the climb back.
At the present, even small buys each produce an uptick in that direction.
A nice share price uptick here today .... https://www.lse.co.uk/rns/SECG/trading-update-2ewccn6691rhz4i.html
Well worthwhile to take a look at their recent RNS's - particularly the comment part of their RNS "AGM - result", 19th June.
Currently the sp is less than 50% of its price of a year ago, so a decent lift to go for here.
Terms of deal said Morton could not own more than 30% of firm. He owns 29.99% of firm. Plus owns 4-5m of the debt. Have they bitten off more than they can chew here? Not great really.
I have no idea. I think they are prime for a takeover once they cut out costs. Only reason to merge is to slash costs. Share premises in the UK. Reduce headcount where there is duplication. Accountants? Other areas?
My main worry is Italian accounting.
Personally I think we got done over on this takeover. They dropped Sec's price 33% after deal was agreed. Sec share price is down 66% from it's high of 124p. Lot of this to do with the big investment it made in Porta at 3p or so. So it has written off 2-3M pounds. I am still worried about Sec's debt they are taking on here.
Can they make Porta profitable? Hmmmm.
Now we are part of SECG how do others think this will go with regards to the share price?
Porta even lower now .
We did they want to buy it ?
On top of that Porta still does not fully own all it's Asian Newgate companies. Guessing shares might have to be issued for these at a later date? It is strange how trades of 10k causes this SP to collapse.
Down to Porta takeover? Their stake in Porta was £3m. Now worth much less.75% less? Even less with this deal. 2-2.5M loss? They have a 1m loan to Porta too. I don't think they ever really had the cash for this deal. Porta Communications are still losing money each year. They will have to pay 500k-1m when it comes to cost savings between the 2 companies.
They are taking on 5-6m debt here at 8%? They still have a lot of other financial commitments. Acquisitions where they have to buy x percent each year. Still don't understand why their accounts are unaudited. Are the accounts legit?
The share price here has lost nearly 66% in over a year. Whole thing could end up going badly wrong on many fronts.
I don't know how the lower share price impacts this deal? At present Sec is valued at just over 5m. They would struggle to raise cash here. Their last cash call only raise 1m or so. Not sure how the market will take to Bob Morton a man who has being blacklisted by the market owning 20-30% of the merged group.
Did you have any thoughts?
Down 36% today no news showing this site .
No board on ii .
SECG took Porta communication over for 4.5 M 11th June 2019 ... last day for Porta Communication 2nd September 2019 .
Both have fallen in price this one now 70p