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Any idea where the share price will be headed in the next few days?
FD was incompetent, and he got fired for it. They didn't buy at a discount, they bought at the prevailing level at the time ie 169p last night. Only after the deal was completed did the price rise which none of the investors could have known ex-ante. Frankly, it's unusual to get a deal way at the prevailing price, so we should be grateful that dilution was less than it could have been. Personally I'm pleased to see company management buying alongside investors here - bodes well for the future.
So the board of directors are completely incompetent in their control of the company that they cannot count a piggy bank. Yet they are entitled to buy at a discount in a book build that is not open to small shareholders and make an immediate paper profit ?
Was 2p last year total including interim and final. Be interesting to see what they do this year given CF issue/placing.
Does anybody know what the dividend on this share is due to be?
Well it's a £9.8m fund raise, not £4m, so shoddy journalism from the get go - and if there was another £5m gap, they just covered it anyway.
Blancco scare divides opinion Cash flow shock divides opinion https://www.sharesmagazine.co.uk/article/blancco-scare-divides-opinion 04 May 2017|Smaller Companies A cash flow review that forced an emergency £4m fund raise by data erasing business Blancco Technology (BLTG:AIM) is dividing opinion. Some analysts believe this is a symptom of ‘growing pains’ as the business expands, others criticise ‘poor cash management.’ One broker’s analysis identifies a potential £5m funding gap in future on top of the £4m cash call already ...
Other foot has dropped - accelerated book build to raise £10m. Interestingly, no discount which tells me that the deal is already effectively covered by existing institutional shareholders. Yes this means dilution, but the short term cash problem goes away, whilst the individual who caused it has gone. Clearly this stock has been painful for us long-term holders, but there appears to be nothing wrong with the fundamentals of the business itself. With the short term cash issue gone, I think we can expect a relief rally back to the 2.10 to 2.20 range, and potential further upside if the business continues to fire on all cylinders. GLA.
chasbas26 Apr '17 - 12:41 - 379 of 384 1 0 http://bit.ly/2q7gyv4 Just skimmed Finncap's 26 page very detailed (initiation of coverage: target price 100p) sell note: there are 36 tables! The sector analyst must have been working on it for weeks if not months. Blancco is mainly institutionally owned: Prudential, R&M, Fidelity, Schroder, Hambro,Soros, HH, Investec. Any theories as to why such a huge effort? Maybe one of the institutions asked for a detailed note. It is unusual for a broker to publish such a long Sell note. There is normally no commercial reason to do so. As a holder I am not convinced Finncap are right but my confidence is definitely shaken. Q3 group sales +48% in constant currency + reassuring outlook statement is positive, surely. Blancco isn't the first high growth company to mismanage its cash - £4m funding must be fixable fairly quickly. I don't want to be shaken out at 172p. Good luck all.
they are giving you a full 20p below the bid for 1k not looking very good is it
Should have trusted my gut and bought a few first thing
Mobiles device diagnostics firm Blancco Technology (BLTG) concerned shareholders after it said it needed at least £4m over the next few weeks to address its working capital position
20% down! Over sold, with current market cap. IMO
Yes. How the hell do you miss potential earnouts from cashflow calcs, amateurish. Fall overdone.
now we know why the CFO quit!
A recording of the recent results webinar is now avaiable to view at: https://www.youtube.com/watch?v=Kqal7kUSVVI
? any feedback from the webinar on Thursday 16th run by Equity Development. I am aware the question will be posed/was posed regarding the CFO departure. The webinar is not yet up on the Equity Development site but I would hope it will be soon.
I hope an over-reaction by the market. Are the shorters involved ? New well qualified board and sales in all areas are presented as strong. Cash flow balance appears to be down due to development and expansion of the business and change to larger customers, all of which which has been explained exhaustively.. Worrying sign though is the resignation of Keith Butcher without explanation. Maybe he is staying with Matthew Peacock in a new venture? Has anyone picked up why he left ? Planning and running small publicly quoted companies cannot be easy with this kind of short term scrutiny and SP reaction to news which not all bad.
+1 Rivaldo. Highly envious of your firm decisiveness getting out at 295p today. Now that's how it should be done! I could have too, but I dillied and I dallied - and I dallied and I dillied. . . . Then I decided to wait some more again to see 'what was what' until my sluggish brain sent a signal to concentrate thoughts on the 'red flag' CFO quitting so suddenly without months of advance notice and reasonable explanations for a more timely exit. So decided that during the flat-lining portion of the retrace to sell up at the 251p area. V annoyed i didn't act sooner in the day. Made a small profit but just selling hours earlier could have got out with tons more. Dropped even deeper than my too late in the day sell. So belatedly right decision - for me. Now watching to see if further developments leave the core business intact or not. But I agree it's a red flag.day writ in capital letters. Fully expecting continued, but lesser intensity, retrace tomorrow before maybe a dead cat bounce in coming days. Just couldn't gamble on the dead cat bounce to pull back from the depths. So, I'm out. But watching.
Hi Matt - I tend to be a (very!) long-term holder of stocks, so something fundamental has to change for me to sell. At BLTG there's been too many changes of management, too many changes of strategy, the numbers in H1 don't merit the very high rating etc etc. I will keep BLTG on my watchlist, but to add to my mistrust of BLTG, I also noticed this: Http://itrenew.com/itrenew-prevails-in-patent-non-infringement-lawsuit-against-blancco/ "ITRenew Prevails in Patent Non-Infringement Lawsuit Against Blancco by ITRenew | Mar 9, 2017 | News from ITRenew - An Industry Leader in ITAD Solutions, Relevant - 3 Vulnerabilities - blog post | 0 comments Suit dismissed after two separate examinations by a Blancco-appointed expert found no evidence of infringement by ITRenew’s Teraware ITRenew, an industry leader in IT asset disposition (ITAD) and data sanitization software for large-scale data center decommissioning, today announced that the company’s patent non-infringement lawsuit brought against Blancco Technology Group has been dismissed. Blancco had been court-ordered to file infringement claim by March 2, 2017, which would have required the company to produce actual evidence of infringement. Blancco instead filed stipulation for voluntary dismissal after two separate examinations of ITRenew’s Teraware by a third-party digital forensics expert found no evidence of infringement of a Blancco patent covering a particular method for erasing data from solid-state drives (SSDs). “It is extremely unusual in such cases that a countersuit asserting actual infringement is not filed, which speaks clearly to the irresponsible allegations made by Blancco,” said Aidin Aghamiri, vice president of corporate strategy at ITRenew. “By filing the voluntary dismissal, Blancco effectively retracts its unfounded allegations, but that’s not what the company will lead the public to believe.” With no good faith basis to assert counterclaims, Blancco contends in a press release it issued last week that Teraware uses compressible data, and any system that uses data compression is a security liability. According to ITRenew’s director of product management Matt Mickelson, who was closely involved in technical analysis of the patent claims, Blancco’s position is both inaccurate and misleading. etc"
Well, sold out of my last slug of bltg just last week ahead of results luckily. Sold my 1st lot at around 228, prematurely as it turned out.Never could understand my there were so many top level people leaving if things were so good. Now we have another round of top people leaving. Bargepole stuff for me with that red flag.
wow Riv, never seen you negative on a stock before! Can you just clarify what you mean by 'The numbers seemed somewhat lacking', and 'Management seem to be all over the place ' (aside from CFO leaving)?
I sold today, largely first thing on the bell at around 295p. At this high rating the management, numbers and prospects need to be clear and trustworthy. Management seem to be all over the place - the CFO's departure so quickly after just 6 months is a bad sign. The numbers seemed somewhat lacking, and prospects good but maybe pushed out further into the future with the problems in sales force recruitment and costs therein. Too many red flags. Back on the watchlist.
...good numbers, but stock down 12%! I presume this is because of the CFO leaving, but I'd be interested in any other thoughts?