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Nice sp increase today, even though today's buys weren't really nudging the Ask price for a large chunk of the day. Then these trades went through:
24-Mar-22 14:47:51 155.00 1,180,000 Unknown* 154.00 156.00 2m O
24-Mar-22 14:47:42 155.00 1,125,000 Unknown* 154.00 156.00 2m O
24-Mar-22 14:47:37 155.00 25,273 Unknown* 154.00 156.00 39.17k O
24-Mar-22 14:47:30 155.00 162,000 Unknown*154.00 156.00 251.10k O
It could well be that most of these numbers are sales and the marker maker has been trying to offload them for the past month or so. That is before the war in Ukraine intervened. Now possible that the chances of a share placing to raise the working capital, for Beeks to cope with their surge in sales, has increased.
I might be in danger of thinking too much but a successful placing soon, could be the driver for the sp to test the 200p levels again.
Really good call & interesting company that has clearly made a lot of progress in the last couple of years. I'm holding off investing until they've sorted out the balance sheet though, I don't care what the CFO/CEO said about alternatives to a vanilla equity placing, they would be mad to go down the route of debt financing at the present time. I suspect a £5-10m placing at around 150p would do the job nicely and result in a strong move higher in the aftermath.
Perhaps something is being organised for next week. the size of the placing will be an indication of the potential number of contracts that could be won before the year end. Not unreasonable to imagine that there could be at least four for Proximity Cloud. If Exchange Cloud is released by July, it's possible there may be a further two before December, probably much earlier. I think that £5m would be enough with the extra revenue starting to come through. Assuming installation is done within 16 weeks, Beeks could be looking at revenues of £28m+ for the financial year ending June 23.
If Exchange Cloud is embraced by the exchanges, driven with the potential for them to earn money from it. There could be a time when they all want their own system. Then we really are talking about multiples of the current sp. Am not surprised that Gordon McArthur is excited (at the prospect of Beeks generating so much cash in 2/3 years time). Likely that predators will have their eyes on Beeks by then. You couldn't blame him for accepting the right offer though.
All speculation of course, a lot of rewarding work for Beeks between now and then. Right, not going post here again until the next significant rns pops up.
Good luck all.
Canaccord increasing their holding by another 3% on 24th March
Coffee Can share indeed.
The share buy must have involved one of the large trades that went through on Thursday. I notice that they are buying with funds labeled, discretionary clients. Quite likely more than one fortunate client is going to acquire a decent chunk of BKS shares. It is a large vote of confidence in the future of Beeks.
Share placing and Primary Bid offer looking to raise c£15m. No price for the shares issued yet.
The size of the placing and the proposed prudent use of £8m to build up the stock of items required to build their Cloud system units suggests that Beeks are expecting many more contracts, including for The Exchange Cloud system over the course of the next year. That is, as well as avoiding supply chain issues and inflated prices.
Gordon McArthur in the recent InvestorMeet meeting responded to a question regarding the future share price, by I can't tell you that but I would expect it be many multiples more than now.
apologies for omitted word:
by saying I can't tell you
Looking like Primary Bid offer will close early.
Good sign IMO
Yeah, has to be a good sign. Let’s see what we get.
The £2.20 target price that analysts at Canaccord Genuity put on the sp back on 21st March is on the horizon after this oversubscribed cash raise @ £1.65.
A "Coffee Can" share for sure.
Very good news. Firstly am pleased for Gordon McArthur and Beeks. A lot of work and clear thinking has been done to put them in the tremendous position that they are in today. He is receiving the rewards of his success, which hopefully will be shared by the many shareholders that have put their faith in him.
With regard to the placing, fantastic for it to be oversubscribed. It has given the opportunity for new investors to get on board at a reasonable price but also fair to existing shareholders. The placing still has to be voted through. Though in reality that should be a formality.
The size of the placing took me by surprise. However the planning is far thinking. There is a large pipeline of potential contracts. The money will be there to fund the work required. Significantly the materials to assemble these Cloud units is going to be stocked in sufficient quantities to allay worries over any supply chain issues.
Not too fussed about the share price, that will look after itself over the next few years. Have no intention of selling mine for a long while.
Good luck to all shareholders.