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Until signed there will be, but I did a very small buy at open and got some at 46.5 (it’s marked as a sell). Got some more at 55. My avg is 52, but I’ve only 1500 shares, because of the uncertainty, 50% downside and 30% upside, worth a punt. Imo.
You can still buy for less than 55p this morning which suggests there is still some uncertainty about getting the deal over the line though.
I thought you were talking about icing up a few bottles of champagne in the fridge Morbox!
Yes, this sounds promising. Hopefully it will all get confirmed on Friday. We've lost 3p from the original offer price but on the other hand the share is now ex div so that helps a bit. It's all good news as the share price had been stuck around 25p for ages and ages.
Bloody auto correct! for and pick up!
Yep, was waiting all day the the RNS, Going to try and ice up a few more tomorrow, but I’m sure the mm’s will put stop to that! But as you say sounds promising.
RNS tone sounds promising. Revised price of 67p on the table. Buyer has till 5pm Friday to firm up offer, walk away or extend time for more negotiations.
The extended 5 September deadline expires tomorrow. Further extension?
At lease they're still talking. Could go either way at any time.
The extended offer is due to expire on Tuesday (22 August) but there is no share activity at all. What does that mean? A further extension of the offer deadline perhaps?
Added today.
Hope offer goes through.
And finally we get some welcome news today with an expected offer of 70p. That is a very healthy premium to the 25p share price we have been seeing recently.
Great news! And it seems to be at a good price. Hopefully the offer will be finalised. Right now there is quite a difference between the expected offer (70p) and the share price (50p) so there must be some doubt around. I think I'll sell my shares if I can get 60p.
At 70p
Had bought these for the dividend last year
With today's hiccup caused by the delay with the audited accounts (hopefully it is only that) the market cap based on 24p per share has now fallen below the net cash on the balance sheet.
Agreed. Almost the entire market capitalisation is covered by cash and there is a decent dividend yield on top of this. Admittedly a large part of the cash balance is tied up for regulatory reasons but one way or another this will be unlocked one day - for example by a trade buyer - and there will be plenty to distribute.
As always seem to under deliver on results - however still making £1.7m minimum profit on £24.1m revenue. No debt, £14.0m cash held as security. Market cap is around £16m and paying 1.5p dividend (over 5% at 27p)
Eventually this will either be taken over or become a real cash cow. A hold for me.
Sorry Trading Update not results
Held this share for some time but don't like this Results RNS and therefore bailed out
Cash held to meet regulatory requirements but even so a 6% yield (all paid over the next 5 months) not to be sniffed at. Debt free and 91% rr. Tucked away in my ISA
The results announced today were not over exciting but net cash is now £16.8m against a market cap of £14.5m. Add to this the fact that the company is trading profitably and paying a decent dividend and it looks a good bet.
It promised an integration of acquisitions and an IT roll out backed efficiency that took significantly longer to produce than expected. They also had an interview with Simon Thomson 2-3 years ago and on the back of it he tipped them - they then warned off the plan about 4 weeks later - he gave them a damning review and that did not help sentiment.
Good profitable business but ignored by market and to be fair I have considered selling a number of times as they cant seem to deliver their own declared strategy - however good divi at this price.
NtD
This is trading near cash.
Has there been some problems historically with the company?
Failing/unprofitable businesses
Non delivery?
From balance sheet this seems cheap, just wondering if there are skeletons in the closet before i start a deep dive
confirms the undervaluation. How can this company have an EV of only £5mill? With increased focus and recurring revenues I'm very happy to go on collecting the divis. Much better than the banks.
Looks a good move selling this business. Only a £100k lost in profit for a return of £1.8m. Seems a good trade.
Hi Rich. Interesting to see that Eastmount Capital took a 3% stake on 26th Oct and last Thursday someone bought 5%+ of the company. Could an opportunistic bid (45-50p?) be on the way? I've topped up as it seems a decent each way bet.