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If a significant shareholder is selling down to nil holding should they be removed from the list of significant shareholders:
a) When they have finished selling to NIL holding? OR
b)When they have sold to below the 3% reporting threshold?
Harwood Capital's 9,000,000 shares have mysteriously reappeared on the "Identity and holding of significant shareholders" as at 13th February 2019 as included on the APC website.
This raises a number of questions not least if Harwood Capital are not selling then who is? Given the size and round amount sales I am still of the opinion that it is one shareholder selling down their holding but doesn't it seam strange that this has been going on for some time now and no AIM Rule 17 shareholding notification has been made?
I don't believe these shares have been prised from weak hands, rather careless hands maybe?
Should be an interesting AGM
There's only one pair of weak hands IMO and the sooner they are gone the better.
For some reason that is what the MM's want us to believe!!!
If you take the reported sales as gospel you would believe 2.7m share sales this year v's 1.1m buys (0.2m unspecified).
I have bought over this period at 6.3p so the truth would appear to be more like 1.7m sales v's 2.3m buys.
They must be getting short of shares leading up to the AGM so anything could happen to prise more shares out of weak hands.
For some reason that is what the MM's want us to believe!!!
If you take the reported sales as gospel you would believe 2.7m share sales this year v's 1.1m buys (0.2m unspecified).
I have bought over this period at 6.3p so the truth would appear to be more like 1.7m sales v's 2.3m buys.
They must be getting short of shares leading up to the AGM so anything could happen to prise more shares out of weak hands.
If I get chance i'll ask it as my third and final question. Although the information about People with Significant Control (Amendment) Regulations 2017 and the AIM Rule 17 are clear on the subject I would hate for the meeting to get bogged down in process type questions.
Its a long way to travel down from Yorkshire to be greeted with a 'Penguin' and a cup of lukewarm over percolated coffee but I am looking forward to the meeting and hopefully seeing some faces from a couple of years ago.
Absolutely. Yes please ask the question if you go and if no chocolate biscuits I'll be happy to send you one ;-)
Very strange and possibly worth a question at the AGM while I'm dunking my chocolate biscuit!! assuming tea and coffee is provided?
Am I right in thinking the onus would have been on Harwood capital to kick start the necessary paperwork/reporting?
Onwards and upwards
Interesting observation. They did not appear in the F17 accounts so fair to assume they added last year but why no TR1 on purchase?
When comparing the list of "Substantial Interests" as at 12 December 2018 per the published accounts with the list included on the APC website dated 25 January it would appear that Harwood Capital have reduced their holding from 9,000,000 (5%) to less than the 3% reporting threshold.
We may not therefore IMO have long to wait for an overdue increase in SP once the seller(s) has finished.
It would appear that shares are being snapped up immediately they are sold? but why not at these bargain prices (Current P/E of just 8 per rivaldo's post)?
I agree the acquisition looks excellent "once fully integrated"
For me the trading update of "The Board is pleased to confirm that trading to date for the current financial year to 31 August 2019 is in line with management expectations". is uninspiring and about as much use as a chocolate fireguard. However I do feel that paying for the acquisition in cash is positive and demonstrates excellent progress from where we have been in the past. IMO the board should be proud of their recent achievements.
I look forward to attending the AGM and the chocolate biscuit!!
GLA
Trading is nicely in line for a current year P/E of just 8.
And a rather good earnings-enhancing acquisition at a cheap price which should enable further cross-selling and synergies.
Richard Hodgson, Chief Executive of APC, commented:
"We are delighted to be able to confirm the acquisition of Wavelength Electronics, which brings another leading component distribution and representation business into the APC Group and is an exciting opportunity to further expand the range of products we sell within our specialist markets such as Space and to grow our customers base.
For APC this deal follows the successful acquisitions of First Byte Micro (now APC Locator) and Aspen Electronics in 2018 and positions us as one of the largest electronic distribution businesses in the UK, with unrivalled product, technical and sales experience. Our combined technical sales, marketing and customer-facing teams now total more than 50 staff and will provide our manufacturing partners with enhanced UK coverage to an expanded customer base."
Nothing on the APC website but an installation update on twitter. They appear to be convincing several councils that APC is the way forward for massive energy savings.
https://twitter.com/apctechgroup?lang=en
That will be my first question then!
Some encouraging buying today and a nice bounce in SP
Sandwiches, I think you're going to be disappointed, last year there were only chocolate bars.
I'm definitely going to the AGM this year and would be happy to ask a couple of questions after I've asked my own. As always I will be looking forward to the sandwiches!!
Is today the beginning of a rise in SP prior to the meeting?
GLA
Hi All,
I'm happy to put forward some questions at this year's AGM and I would also like to take this opportunity to thank all those who have contributed to this bulletin board, over the years,
I think the bottom just fell out of the glass!
The results and current years forecast warrant a price of at least 10p unless there is something nasty lurking that us mere mortals are unaware of. Should be an interesting AGM and hopefully some very probing questions for the Board.
Thinking back to last year I believe a couple of posters were there. If they can confirm their attendance this year maybe we could post a few questions for them to ask if they are willing?
Or simply the result of a New Years resolution of an Investor who's glass is now half empty!!
Anybody planning to attend the AGM?
Buys towards the end of the day to come imho. Looks like a bit of liquidity being created by somebody before this picks up.
Good to see you here Rivaldo. Yes very good results. IMO Brexit may well provide opportunities as well as threats.
Sold INSE a couple of months ago and increased my holding here.
Where did you find the Stockdale data you refer to? any chance you could post the link?
Good post Rivaldo. All it will need is a positive trading update with some meat on the bones leading up to the AGM
Good results here, in line with expectations. A decent outlook too, with natural caution re Brexit.
Stockdale retain their 12p target price. They forecast 0.74p EPS this year, reflecting £2.05m EBITDA and £1.63m PBT.
Any decent buying interest should result in the price bouncing back given the low valuation/m/cap. The question is if and when that will happen...
Agree with Fred, Mr R, Allthatglitters. Excellent results and if on main market a rise would have been seen. As said before this is Aim, tainted by a graveyard full of companies that came to the market in a less than honest way. And then of course our country held hostage by a bunch of self interested MPs. There is a guy GHF who writes on the ADVFN board talks a lot of sense and well worth a look. Batten down the hatches for three months and could then be a completely different story.