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I urge EVERYONE with Sopheon shares to contact their broker ASAP on how to cast your vote. That is, if you want to vote of course. But I would strongly advise to do so, whether you're against or in favour of the bid from Wellspring/Resurgens. Your broker can cast your vote by proxy and there is only a small cost involved.
I personally think it is a ridiculous lowball bid, so I will vote against it. See my initial post for the reasoning behind this.
They will for sure make a higher bid if the initial voting falls short.
The voting requires both a majority in number of voters as well as 75% of total share capital. Because also a majority in number is required even small shareholders can make a difference, as long as we cast more individual votes than the few very large shareholders (the 41% that is already committed to the offer is a large percentage but only a very small number of voters (handful of directors + Rivermore).
Received in post today. Voting on the takeover to have taken place within 28 days from 22nd Dec.
Well done to SPE shareholders on probably doubling their money overnight.
This bodes well for Parity (PTY): market cap. £1.91m. at 1.85p, 2022 revenue £40.6M.
PTY's net debt as at 30.6.23 was only £0.7M., and the company was close to EBITDA break-even.
PTY may well currently be considering takeover overtures.
Imo
Thanks for your input, with which I agree. Can you, however, how many companies share the sector with SPE? I had always thought that they occupied a fairly small niche, which is part of what attracted me to them many years ago. I’m not trying to undermine your research, I’m genuinely interested in the scale of the sector. Thanks
Sopheon is heavily undervalued in my opinion. ARR now stands at $24.3M. If we apply the sector average ARR multiple of 9.7 (source: https://sharpsheets.io/blog/arr-multiples-benchmark-saas/) this gives a market value of $236M which translates to a share price of $22 (£18).
This would still be a conservative valuation; since the ARR is growing substantially; and Sopheon is financially healthy and debt-free. While that 9.7 average also includes a lot of companies that are not..
And while ARR is a recognized valuation metric for SaaS companies; one could still argue using that specific multiple is cherry-picking. So then let's look at the valuation based on revenue in general. Revenue for 2022 was $36.1M. Sector average revenue multiple is 5.2 (source: https://aventis-advisors.com/saas-valuation-multiples/) -> this results in a market value of $187.72M which translates to a share price of $17.7 (£14).
So that's a 100% - 200% upside potential. And this is short-term, based on 2022 results.
2023 has started with a revenue visibility increase of $5M already; it will undoubtedly yield another substantial growth step.
There are more ways to valuate the company; but no matter which you choose; the outcome will be (much) higher than the current stock price.
SPE is a turnaround story. inflection point right now.
Seems like the market hasn’t been convinced of the value of this buyout: $1.5m up front, followed by a further $1.5m in earn outs over 3 years. With Annualized revenue of $1.2m, running costs of $500k, and zero net tangible assets, it doesn’t sound convincing really.
The ROIB team need to demonstrate their worth very quickly - ideally before or when the Full Year’s results are announced on 23 March
Agreed
Net cash of $24.1m (H1 2020: $21.9m) and the Group is debt free
• new strategy is working
• profitability increased
• seems to have traction with TCV 1.3x higher than last year
BUY BUY BUY
"With 8,000 scientists and researchers working on 51 technology platforms in 650 different countries....
It’s a good RNS, but really?
Well the little rise is good to see. Back in April the NT has a tp of 800 which we've now passed. Wonder if we can get to £10?
is due for the year just ended. Hopefully this flurry of market activity is a positive marker. This was the Chairman’s Statement back in August, wherein he underlined the company’s resilience in the face of the Covid crisis:
Sopheon's Chairman, Barry Mence said: "Several of Sopheon's vertical markets - food, beverage and consumables; chemicals; defense - continue to show resilience to the crisis. However, our customer base is not immune to the difficulties faced by the general markets. Like many others, we withdrew market guidance in May, and in view of the traditional fourth quarter weighting in our business, we believe this remains a prudent approach. Nevertheless, our solutions remain highly attractive to new and existing customers. This is evidenced by revenues slightly ahead of last year, and by continuing sales traction with a doubling of new customer booking value, including major commitments like our recently announced win at Mondelez International. This also underlines that our SaaS transition is well underway. Visibility for full year 2020 is $25.5m, underpinned by ARR at $16.5m, net cash at $21.9m and a substantial, active sales pipeline - even in the toughest environment in decades, these positive metrics give us a solid platform from which to proceed with our strategy."
I think there’s reasonable expectation for good full year results and an improved outlook for the new trading year.
Finally waking up !
Well it seems now to be stuck. No insights into the state of play that I can find.
Well it seems to have turned a bit of a corner, although the spread is ridiculous.
Surprised SPE isn't followed very much here as it's an NT favourite.
Bought on a limit order earlier resulting of course in further falls.
There seems to be a reducing buying interest here which don't help.
For all you holders, don't worry - I'll be stopped out soon then it'll rise again.
Progressive review summarises - Sopheon has this morning announced a major win for Accolade – the global snack food giant, Mondelez. The deal is good evidence that Sopheon continues to win material deals despite the pressures of COVID-19, and that its innovation management platform is genuinely market-leading. We continue to believe that the group will see a return to strength as the market slowly recovers, and see today’s announcement as a useful signal.
This is a vey major addition to SPE’s client list. Mondelez, formerly Kraft Foods, operates
This is a very major addition to SPE’s client list. Mondelez, formerly Kraft Foods operates
Worldwide and has revenues of $26 billion
And another great step ahead.
Cracking update, glad I bought more at 7.40
Glad I sold out at 7.40....earlier last week had 9k shares!
From what I've read elsewhere, expecting something this week. Although they may wait for any contract news to provide an update. Certainly would expect something this month, hopefully with a few new contracts to push back up over £10.
Anyone any idea of TU?......cant see anything on website?