Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Keith Daley, Executive Chair and Aylsa Muir, CFO designate, present the HY results to 31 July 2020 on 16 September
Register Here https://us02web.zoom.us/webinar/register/9815984269030/WN_KKrIk1oAS7OS3Y3On6AbXA
Good performance from great company, expect good growth from here DYOR
I spotted this and wondered the same, quite the increase in holdings.... also a newbie so no enlightenment from me!
I’ve had this on my watch list for several weeks so thought it a min interesting development.
Newbie here. Did the MD just invest half a mil of his own money?
St in Ic just published new 60p target re Checkit Corona benef re cloud services
then it passed no rns
Big Day tomorrow
I am neither a ramper or a deramper but, I am a fan of software companies.
Over the years I have had some successes notably, Eckoh. On the other hand I have Falanx on my books currently showing a 90%+ loss.
I went hunting at the weekend and today bought my first shares in Checkit, Cloudcall and Corero Network Systems, all with mkt caps between circa 20-30M ( I got into Eckoh at 5M so don't expect anything like the same gains from today's investments)
My current favourite is Crimson Tide - cards on the table I have been accumulating share for some years now and have a decent stake.
Maybe I have fallen in love with Tide and as they say love is blind. However, can anyone tell me what I am missing and why its Market Cap is only around £7.5M - I appreciate that a large shareholder has off late been reducing their holding.
If anyone has time (a lot of us do at the moment) please take a look and feedback to me on the Tide share discussion board.
Thanks in anticipation someone can either put me out of my misery or, preferably, tell me that this company is a little undiscovered gem
There is a very good podcast today on Masterinvestor where Evil sounds very keen on CKT.
It is about one third of the way in if you do not wish to listen to the full podcast.
'Keith Daley, Executive Chairman, has purchased 2,500,000 ordinary shares of 5 pence each ("Ordinary Shares") at an average price of 36 pence per Ordinary Share (the "Purchase").' I read that as a 'big' sign of confidence going forward!
Spot on. Also, I thought it odd that no ED update with the results. I have held CKT since they were 5p
The Chairman buys 2m shares at 32p.
He also bought c.1m shares at 30p just before Christmas.
I think this is even more positive than it first appears because....
1 - Keith Daly (KD) is in charge of the big multi-national contracts (with BP etc...).
He bought yesterday after the TU (so obviously he was in a closed period).
So not only does it mean that negotiations must be going well,
but also as he knew he was going to be buying 2m shares ,
i think it is likely he was not pushing to get contracts over the line.
Now that he has bought the shares, i think contract announcements will follow.
2 - the shares are tightly held. there was a lot of over hang over the tender and people banking profits but selling out of a small value holding post tender. i dont know if this overhang is all cleared yet but we must be pretty close. i.e. if there was another 1m share available surely he would have bought 3m.?
3 - ST in the ic has covered these regulalry before.
I think he is very likely to cover again , mentioning the CEO purchase and significant holding,
and highlighting the attractive risk / reward on offer.
All IMHO, DYOR + BoL
CKT is in my portfolio
Chairman buy's 2m shares indicates to me that downside risk is reduced and upside potential increased
Going to be a slow burn success. Plenty of firepower on the balance sheet to support a move towards 60p by late 2021. Expectation is that we will be an ‘infill’ acquisition, for a larger group, at some point. All-in-all the risks are to the upside.
Amazing results. Am surprised at market's muted response. Once the results are considered expect this to take off.
Simon Cawkwell, AKA Evil Knievil on Masterinvestor today.
“Keith Daley reports that things are going well at Checkit. This makes CKT cheap at under 45p.”
Yes, am holding. May add if shares look to bottom. Amazing potential here esp if large multinationals sign up.
Thanks Batterseafish,
Not looking to great of late...will you be holding ?
I really don't have any valid researched opinion on this stock
I see the final paragraphs did not copy:
"True, Checkit is lossmaking and is expected to rack up cumulative cash losses of £6m in the three financial years to 31 January 2022, by which time annual revenue (excluding EET) should have ratcheted up from £11.6m to £20.5m, according to Mr Hill. But the point is that this is a business that should be able to maintain that underlying sales growth rate of 20 per cent a year and is highly operationally geared, so once it turns cash profitable (Equity Development has a £1.3m cash profit forecast in the 2022/23 financial year on revenue of £25m), it will become increasingly profitable thereafter.
The shares look underpriced to me so, although I would recommend tendering two-thirds of your holdings to bank a hefty profit on part of your holding, thus giving yourselves a free ride on the balance, I would certainly advise holding onto the rump. Tender shares."
He advised tendering shares at 65p. The following is about what remains. I think the shares' slide has been exacerbated by non-exec selling post the tender. However, the non exec concerned previously was exec of Elektron none of which remains. Perhaps await sing of share stabilising before buying although IMHO Checkit has amazing potential.
"Checkit will retain net cash of £14m to develop its business, a sum that will be augmented when its non-core Elektron Eye Technology (EET) business, a developer of portable analysers that are used to detect age-related macular degeneration, is sold off. That unit has just reported operating profit of £100,000 on revenue of £1.2m in the half year to 31 July 2019, so it could perhaps fetch £1.8m in the current market.
Based on 62m shares in issue post the tender offer, Checkit’s pro-forma market capitalisation of £21.7m (using a share price of 35p) will be two-thirds backed by cash (22p a share post tender). Also, Checkit acquired Fleet-based Next Control Systems (NCS), a leader in high-end service-based temperature monitoring for healthcare and life sciences within the UK, and data-related building energy management system services, for a net consideration of £8.8m (14p a share) in May 2019, representing 6.6 times its annual cash profit.
This means the value in NCS – which has now been renamed Checkit UK – and retained cash back the company's market capitalisation in full, implying shareholders are getting a free ride on Checkit’s proprietary work management ‘software as a service’ (Saas) business that has been designed to replace paper-based systems with a centralised, interactive cloud-based way of managing the multitude of tasks that staff have to carry out on a daily basis. Analyst Paul Hill at Equity Development estimates that more than £15m (24p a share post tender) has been invested in developing the system, thus creating “a wide competitive moat against UK rivals such as Crimson Tide (TIDE), Trailsuite and Kelsius”.
Admittedly, Checkit is lossmaking, but it is growing quickly and is targeting a near £6bn market for work management software, remote wireless sensing and remote building energy management in both the UK and the US. The client list already includes a roll call of blue chips including John Lewis, Center Parcs, BP, British Land and the NHS, highlighting how the company’s exciting suite of mobile apps, wireless sensors and data analytics can be deployed across multiple sectors including retail, healthcare, leisure and hotels both to monitor and enhance the operational performance of clients’ businesses.
Moreover, the directors are expanding their geographic reach. Chairman Keith Daley revealed during our results call this morning that the company “hopes to sign a multi-branch contract with a large European food retailing group shortly”. The focus is increasingly on the largest national and multinational customers. They are exploiting cross-selling opportunities with Checkit UK’s c
The last IC article I read was very bullish on the stock, citing new orders for their products, wonder if any one could post it here, good to have the positive news as a balance.
My remaining shares are now in negative territory, SP not looking good at all for past short while.
Any comments?
Just ordinary shares now.
Does any one know if one buys CKT shares after selling all their EKT shares before the tender option were offered to existing share holders would any new CKT shares bought now just be ordinary shares bought in the market ?
Hi all,
Sorry this is the correct link to Keith's Presentation:
https://youtu.be/VTTuZhWCKb8