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Obviously enough said to convince someone to snap up any available stock at the end of each day! Or, Fred's take on the sandwiches has drummed up more shareholders to savour their delights?
BY my polling of the touch the last 2 trades were buys, even the penultimate red trade - so someone confident after the AGM, maybe? (Although the previous 4 trades were sells, and almost cancel out the buys to within 10k shares, so maybe also some circular money going in and out)...
Were the sandwiches as good as two years ago? Any news of the meeting would be much appreciated.
At £8m mcap it hardly matters whether there is a note out or not IMO, it's below the cut-off mcap to be considered for many portfolios and would only be of interest to a specialist who would do their own research or a PI, and how many serious PIs take much notice of broker's notes (after being burned many, many times!) It's just a patient hold for now IMO - the next set of results will hopefully give the first real indication of the cash position, which I would guess is by far the biggest reason for the SP being down here. Many would prefer not to have their cash tied up waiting for those results but I see these undulations as an opportunity to work my average down. Don't want to tempt fate but unless it transpires there's no going concern here I can't see the mcap being any lower - even on the stripped-back top line it would warrant £10-20m valuation IMO.
Jim I agree with what you say but my point is unless an analyst is following the stock Joe Public has no idea what it is all about and would therefore be unlikely to buy.
Bearing in mind Sahid any share price only moves up when sufficient numbers want to buy in a hurry or a seller is pumping the price in advance of a dump. In quiet periods any buyer can bide their time, Stuart Hawrhorne quietly adding a fortnight ago - the price only went up *after* he'd bought, if the TR-1 dates are to be believed. Some circular trader no doubt hit a lift due to the reduced supply after Mr Hawthorne's purchase and triggered a tiny rally. The price is stuck here - until it moves! Yes sorry glib comment but I genuinely believe whilst there is no overt demand those who are quietly confident in the company will accumulate in the background and then one day someone will try and buy and suddenly the price will spring back. By rights to 8p first, then more to hit warrant resistance at 10p. Can't say for sure of course but that's what I expect (barring adverse news flow) and the time frame could be weeks it could be months but it should happen this year IMO.
In the Q1 trading update we were advised that new orders for the core distribution business were 17% ahead of the previous year and that several new orders for lighting products had been received. Revenue was reported at £4.5M. I guess an update on these numbers might filter through from the AGM but either way things would appear to be going well. In fact after the huge cost saving reported we could be forgiven for expecting the SP to have risen but alas no one has the confidence to invest due mainly to the lack of any analyst commentary IMO. If this changes and realistic projections are made for the next three years we may well see a sustained recovery. Failing that there seems little reason to hold on as no institutional investors are going to be interested at this MC.
Should have guessed they'd take it back under 6p when I posted I didn't think it would go back under 6p - ah well in the grand scheme of things it's still part of the long slow trudge out of the dumps and back up to a proper price...
Possibly 2 Tony Locherys as directors (regarding the 2 apparent omissions from the disclosure list mentioned below)? I don't see Chairman as having much influence in the company other than having some decent connections (tick) and being credible and level-headed enough to chair the board meetings. Position filled - share price drop is probably just natural part of the current cycle. All being well it shouldn't drop back under 6p and then test a new high in the next week or so. But it's slow and boring and well and truly on the back burner in my portfolio
Do you know I completely overlooked the past directorship list. Yes very relevant indeed and thanks for pointing that out.
To be fair RH mentions he has worked with him before so he must have a fair idea of how he can benefit the company and his previous association with ashdowncontrolsgroup.com gives him a certain degree of merit.
Extract from the Accounts: "The Group’s business model has been developed and refined over the past year and is now set to concentrate on developing as an organisation expert in design, specification and distribution of specialist electronic components and systems in markets with growth opportunities." Not sure how this appointment fits the development plan. Current directorships as listed in the RNS appears to be small private companies the majority involved in real estate and APC has absolutely no synergy with Kwik-Fit where his story began.
Well the RNS hasn't exactly set the world alight !
Hi Sahid, yes very strange. I have rechecked the sites that are giving information and both are up and running at present and up to date. Bloomberg are showing him as a Chairman at Bidco and a previous director at a company called Cascade. The other site , Company checker have him taking up his role at Orbis in 2015 so I assume he would still be with them if listed on the site, this may be an incorrect assumption though. However if you check the Companies House site they only show past positions and show him as not having a present role. Donald Trumps "fake news " may be spreading ! Well whatever positions he presently holds we need to hope that he can start driving up a few contracts for us as the silence regarding new contracts is a little worrying.
Cockney, the disclosures under rule 17 at the foot of the RNS release mention neither Bidco or Orbis as past or present directorships? There are several property services companies listed which may offer opportunities for LED lighting but strange these other two aren't mentioned.
Plenty of info out there regarding the new chairman , some good and some not so good. A self made man through starting a training company. He currently has two chairman positions. One with Bidco , an energy solutions company which should fit well with APC. The other is with Orbis, a property solutions company. He,s been a chairman for various organisations over a 30 year period. Slightly worrying is that 10 of these companies have been dissolved in the past , I guess though that with smaller companies that is a regular occurence. A possible link with Bidco could work well here.
New Chairman appointed (Anthony Lochery) to replace retiring Leonard Seelig.
Pleased and not surprised that I was not the only one buying under 6p. It was - and still is - undervalued IMO, even with the ongoing question over whether they're quite there in terms of cash sustainability. Looks like the 50k/75k/25k traders have had a go at pushing the bid down and got rejected so hoping for a better peak on this cycle than the mid-to-high 6s, might even touch 7p. Not saying it will be plain sailing but I'm hopeful we'll edge back up to 8p then 10p as a fairer reflection of the value of reshaped APC.
Stuart Hawthorne has almost doubled his holding since the 2016 accounts! Newboy - If you contact the Company I am sure you will get invited.
Have been watching share months now waiting for SP bottom. Maybe now good time to invest I think with many big sells and no big price fall. Would like ask Trotter1973 have you many left to sell? This important to know for my investing. Other component companies doing well Electrocomponents etc and think same maybe APC. Does anyone know if non shareholder can attend AGM?
Hats off to you (or your broker) as you managed to do a good job or get lucky with that offloading because I was absolutely convinced there was a trader trying to probe or work the share price to where they wanted it. I saw 300k dumped on Tue 31st but quite a large buy underpinned the price, more dumped the next day but also more buying. Or perhaps there was also a bit of circular money sloshing around by chance that week because by Friday it looked like pure circular trading - shares in = shares out and you could even see the guy split his last 100k into a 75k and 25k sell to try and break the floor on the price. Ask held firm at 6p last week, but some deflation on the ask into the start of this week so maybe the MM were given a few more to offload this for someone, or someone is still working their position here. Long period of trouble ends up with the share relatively unloved until the company can prove itself again - I suspect there are still worries over the cash needs and until the next results come out in a few months there will be some betting on a third placing. But I'm betting against that view - I'm buying into sub 6p (picked up a few more today) with the opinion that the company has turned a corner. Won't see who's right until it's too late to take or untake a position - which is a bit old school compared to the orchestrated drama/farce playing out on some other AIM shares right now...
Thanks for the information, much appreciated, will you be at the AGM?
I sold 500,000 from my isa last week to put the capital into a share that is performing much better EVRH is my portfolio saver of late I'm still holding a significant in apc and hoping that they will return to double digits this year I believe this is reliant on 1) appointment of credible new chairman 2) contract wins for LED supply in the london major projects fit out sector 3) the market and mm take on board above and back this share again
and what does quindell have to say?
And it looks mostly one trader trying to get the ask down probing away... If you're reading this mate - no momentum so it will just stay the same and the MM will rinse you for 3% every time. There's no momentum because all the mug punters left this share months ago. And no I won't be selling, I've got years of patience.