Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Still unknown share among investors. Once it gets noticed, it will be nearer £!.
Moving fast now - looks like any angel investor sellers from the IPO are now all or nearly all out.
Hopefully we will get picked up again by one of the weekend tipstars.
Should start moving. The guys on Addicted2shares on Fbook have just discovered it.
Et voila....40k of buys in 10k and 5k lots have done the trick nicely and triggered a 1.5p rise.
Good to see the buying price moving up today to 58.6p now - hopefully an indication that any seller is running out of stock.
Thank you Rivaldo for the link to the CEO interview. It is good to feel some enthusiasm coming down from above.
Excellent new interview with the CEO - I really get the feeling he loves the business (it's been his since 2006 after all) and will look after both it and shareholders:
Https://www.heraldscotland.com/business_hq/18835550.accidental-entrepreneur-taking-calnex-ranks/
Brief extract:
"With demand for the company’s equipment being driven by the migration of mobile networks to 5G, which will allow far more mobile devices to access the internet at the same time, the 60-year-old believes there is plenty of scope for growth. Calnex currently employs 95 people supplying equipment to giants such as BT, China Mobile and Facebook, generating revenues of £13.7m last year.
“I really want to keep driving Calnex,” he said. “If there is a glass ceiling it will only be because we have put one there.
“I don’t see any end game here. I believe we can keep growing and growing.”
Having made a small gain here I tried to sell a fifth of my holding today. No joy, the market could not meet a requested sale of £1000. Something to do with it being so new on the market perhaps. It is most annoying being unable to take a small profit.
Nice to see some upward movement and obviously concur with rivaldo.
Thanks Rivaldo, much appreciated! - there was obviously someone who dumped a block of shares on Friday afternoon and I got lucky, as bought at the bid price.
Looking forward to HY results on 30th November, which should be excellent.
To be honest, could do with the price dipping again to buy some more around 53p. Will keep a look out!
Rich
Hi Rich62 - good timing. You can buy me a virtual beer :o))
IMO this could be quite a big winner if all goes as predicted with acquisitions, high repeat revenues, 5G rollout etc.
Managed to buy some at 53p here - pleased with first purchase and price.
Will add more on any weakness.
Thanks Rivaldo for the tip!
Rich
Thanks Rivaldo - I've watched the you tube presentations ref AIM listing and Calnex - interesting.
Might invest some here if the price drops a little - on my watchlist
Rich
Hi Rich62, I never have specific price targets. I mostly hold for the long (sometimes very long!) term, so targets are pointless for me. As long as my original criteria for purchase still stand, and the stock isn't too overvalued, then I'll stick with it.
For CLX, I see a long tailwind of (1) 5G, (2) increasing digitisation, and (3) increasing use of cloud computing and data centres pushing the company forward for some years to come.
So since CLX are still on a pretty reasonable P/E, are world leaders in their field, have numerous blue chip clients who will always pay up since CLX's services are absolutely necessary - you can see why I'm keen!
Hi Rivaldo - followed you over from IHC.
Can see that you got in early here and price has already moved significantly since the AIM offer at 48p.
What's your price target here?
Thanks
Rich
Up again this morning, and looking encouraging online. You can sell at least 40,000 shares at 54.27p, but you can only buy a maximum 15k shares at 56.95p. It seems that stock is scarce now.
I bought this share for 3 reasons:
1) To be in from the beginning of a new company.
2) For a steady share that wasn’t going to be negatively affected by Covid/lockdown.
3) For a message board that wasn’t full of crap.
I blame myself for previously buying share in company that are massively effected by Covid - Cine, MARS, CCL, Rolls Royce & MKS.
...and the price is now up 4p, or almost 8%, with buying now at around 56.7p.
Interesting to hear that Covid is not expected to affect GLO. I have a theory that, if anything, lockdowns and such will help us grow.
Encouraging - the buying price has moved up now to over 54p after some nice buys this morning.
Interview with the CEO about the IPO process (45 meetings in 9 days and "significantly oversubscribed") - confirmation that COVID-19 had absolutely no effect on the business, and that CLX are benefiting from the boom in homeworking and telecoms in general.
Plus there's emphasis on acquisitions to come and making CLX "a lot bigger":
Https://www.ii.co.uk/analysis-commentary/floating-company-aim-calnex-solutions-plc-ii513716
Excellent new summary just out from the respected Private Punter - a couple of extracts in particular point to the value here at a £46m m/cap:
Https://martinflitton1.wixsite.com/privatepunter/post/catching-up-with-calnex-23-10
"These include Cisco, Nokia, Samsung and Verizon who are just a few of the many customers that have contributed to strong growth which delivered full year 2020 revenue numbers of £13.7m which in turn returned a notable pre-tax profit of £2.9m."
"The evidence to that end is clear to see, as revenues have moved from £8.4m in 2018, to £10.5m the following year to last years £13.7m. Adjusted EBITDA after development and amortisation costs has seen a movement from £1.3m in 2018, followed by £3.1m and £4.1m in the subsequent years, providing for a glimpse of the potential of future earnings as things scale up."
This is a very interesting article about why BGF became cornerstone investors in CLX in this month's IPO - particularly BGF's own comments at the foot of the article:
Https://www.privateequitywire.co.uk/2020/09/22/289945/bgf-become-cornerstone-investor-calnex-solutions
"BGF to become cornerstone investor in Calnex Solutions
Submitted
22/09/2020 - 4:13pm
BGF is investing in Calnex Solutions plc, an established provider of test and measurement solutions for the global telecommunications sector, as part of its proposed admission to trading on AIM.
Headquartered in Linlithgow and founded in 2006, Calnex designs and makes equipment that tests the performance of telecom network infrastructure for customers including BT, Ericsson, Nokia and Facebook. To date, Calnex has secured and delivered orders from over 600 customer sites in 68 countries across the world. The telecoms industry is currently experiencing unprecedented levels of change because of major trends including the migration of the mobile networks to 5G, the emergence of the Internet of Things and the shift to using cloud computing.
Calnex has a strong financial track record, delivering historical revenue CAGR since FY15 of approximately 16 per cent. The company is profitable and cash generative, with a record order backlog going into FY21 and a strong sales pipeline.
The funds raised through the IPO, along with the company’s existing cash resources, will allow Calnex to invest in business development and R&D resource, repay its existing debt facility and evaluate opportunities to acquire complementary technologies or businesses to accelerate the company’s growth.
Paddy Graham, head of BGF’s Edinburgh office, says: “This investment into Calnex illustrates the strength of BGF’s regional presence and breadth of offering, with our Scottish investors working closely alongside BGF’s Quoted team in London to support the proposed listing. We have built a relationship with Tommy and the management team over a number of years and have watched the significant progress they have made, particularly around international expansion, R&D and successful bolt on acquisitions. We are very much looking forward to partnering with the company and supporting its growth ambitions.”
Paul Stevens, a member of BGF’s Quoted team, says: “We are delighted to be a cornerstone investor in Calnex at such an exciting time for the company. Having first met the business a number of years ago, BGF has followed the exceptional progress achieved by an innovative and entrepreneurial management team. The proposed listing and admission to AIM is a significant milestone for the company as it enters the next phase of its growth journey.”
Interesting article which strongly suggests that the new (and much cheaper) Barclays facilities will soon be used for expansion via acquisitions:
Https://www.heraldscotland.com/business_hq/18805704.calnex-tops-flotation-proceeds-3m/
Extracts:
"Scotland’s newest listed company has bolstered its expansion firepower via a £3 million banking agreement to top up proceeds from its listing on the Alternative Investment Market (AIM) earlier this month.
Telecoms technology specialist Calnex Solutions has secured the revolving credit facility with Barclays on the heels of its oversubscribed placing in which it became the first Scottish company to achieve a London listing in more than two years."
“We are in an exciting period of growth and development for the business and we needed a banking partner supportive of our ambitions,” Mr Cook said.
“Like many technology-based sectors, the telecommunications industry is seeing fast-paced change and a wealth of innovation. Our deal with Barclays offers us flexible access to capital to take advantage of opportunities like acquisitions that will help us grow our market share.”