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Canaccord Genuity cuts price target to 64p from 224p.
...this Thursday.
CMC Invest is a platform that provides customers with a great value-for-money
proposition, allowing them to trade globally listed shares, ETFs, REITs, and
Money Markets across 15 global markets, with Wealth Management, Fractional
Options and Futures to follow.
SINGAPORE, Sept. 25, 2023 /PRNewswire/ -- FTSE-listed online financial trading
firm CMC Markets Plc today announces the launch of its new online and mobile
trading platform, "CMC Invest", for investors based in Singapore and the
Southeast Asia region.
CMC Invest is poised to disrupt the online brokerage market by providing
clients with the best value-for-money platform. All new sign-ups, starting at
the Gold tier, receive free monthly trades (i.e. no commission/platform fees)
for the first 5 trades for US, Canada, UK, and Hong Kong stocks and first 2
trades for Singapore stocks, with this moving to 10 and 20 trades (for US,
Canada, UK and Hong Kong) and 5 and 10 trades (for Singapore) with Platinum
and Diamond tiering. The total value for the Gold tier, which includes data
access, TradingView charts, other services and savings, is worth approximately
SGD 200 per month.
Additionally, clients who are actively trading Hong Kong stocks will benefit
significantly in cost savings as they will not be charged brokerage, trading
fees and transaction taxes. They are also not subjected to settlement and
platform fees, nor custody and safekeep fees. Importantly, clients will have
access to 2,866 HK Securities, REITs and ETFs, not just the Top 50 names on
the Hong Kong Stock Exchange.
Head of CMC Invest (Singapore), Christopher Forbes, said: "Our vision was to
provide a platform that arms investors with comprehensive tools and insights
to navigate the financial landscape, so they can achieve their financial
goals. From the onboarding to navigation to daily usage, it had to be easy to
use for our customers. In this saturated market, setting ourselves apart was
not simply about pricing, but more about confronting the hidden expenses that
have crept into the industry – from platform fees and settlement fees to
inactivity costs — that erode investors' capital and confidence. Our
commitment to creating a platform that serves everyone is a source of great
pride, and we are thrilled to unveil it today. Upon license approval, we aim
to offer wealth management, OTC Options, and aspire to eventually develop CMC
Invest into a single super app to meet our clients' needs."
An Investment App That Values Transparency
The fear of undisclosed fees has long deterred many investors from trusting
online investment platforms. This inspired CMC Invest's mission to focus on
transparency in an era where headline-grabbing tactics attract customers with
promises of earnings but loaded hidden costs or short-term benefits instead
negatively compound
The class action in Australia covering nearly 10 years of client loses could be expensive to defend and have a material impact on net earnings in the meantime. The sums at risk on an unfavourable outcome could be enormous.
www.cmcmarketsclassaction.com.au/
It’s an uncomfortable position.
Well, a person closely associated with
Deputy CEO sold 100k
Shhh!
And they were right ,it is up 15% so far.
Https://www.proactiveinvestors.co.uk/companies/news/1025953/cmc-markets-offers-value-after-recent-weakness-says-rbc-1025953.html
Close of 40% upside now on broker median, with nice divi and strong FCF:-
Share price forecast in GBX
The 5 analysts offering 12 month price targets for CMC Markets Plc have a median target of 140.00, with a high estimate of 250.00 and a low estimate of 75.00. The median estimate represents a 38.89% increase from the last price of 100.80.
Take private, for all parties, looking more attractive by the day.
CMC Markets Plc : Peel Hunt resumes coverage with add rating; target price 140p
* CMC Markets Plc : Shore Capital cuts fair value to 75p from 155p
Shore Capital have had a sell on this for months so that ain't right
Shore Capital downgrade to sell from hold. 75p price target from 155p
I left school at 15 as well and that's where similarities between myself and Peter end!
I have edited Wikipedia to state CMC is now worth £300M.
Career
He left Shoreditch Comprehensive with no qualifications, aged 15, and gained a job as a telex operator for Western Union in the City of London. After being made redundant, he worked in the foreign currency trading rooms of various banks, including the Bank of Iran and Marine Midland.[1]
By 1989, Cruddas was the head foreign exchange dealer at the City of London branch of the Jordanian-based Petra Bank.[16] He left the same year to set up his own business, starting CMC Markets with £10,000 in the bank. CMC Markets is currently valued at between £750 million and £1.2 billion.[5] By August 2023 CMC had fallen in value to £300m."
"Why is "Lord Cruddas going to have to take this private" ? Genuinely interested what insider knowledge you seem to have. Thanks".
There's no "insider knowledge", it's just an opinion as to a possibility.
As for why, the typical reasons trotted out in other instances of delisting are that the public markets are no longer providing access to adequate funding and that it's expensive to maintain a listing. Oftentimes, what then happens is the company is fixed up and made to look beautiful again in private hands. Then, in a few year's time when markets are generally booming (or at least not depressed), they bring it back to the public markets for a huge profit. It's the old private equity rinse & repeat. Not saying it'll happen here (as this is just conjecture), but it's certainly happened many times with other companies in the past.
I was thinking of the 90% threshold for a squeeze-out (forcing holdouts to hand over their shares).
The 75% threshold is however an important level beyond which pre-emption rights cease for minorities.
In short, because its seven year stock market listing has been a disaster and there are few viable options available other than for the business to be taken private by Lord Cruddas either on his own or with private equity partners.
Why is "Lord Cruddas going to have to take this private" ? Genuinely interested what insider knowledge you seem to have. Thanks
The "quorum threshold" is, I think, a 75% vote in favour of delisting at an EGM. Cruddas is already on 70%, so he may not even need to offer that premium, just stitch up a deal with 5% of holders.
Yes of course Lord Cruddas would have to offer a premium to current prices. He could afford to be generous and offer 140p a share (a 30% premium today’s prices) which is well below the 240p he sold his shares seven years ago at IPO.
This is going sub 100p and investors would bite his arm off for the opportunity to sell out of what is pretty much an illiquid stock at 140p.
I note from your post in June you were buying these at 162p.
If he plans to take it private he still has to make an offer acceptable to the outstanding shareholders (presumably there will be some quorum threshold and clean-up call).
Enlighten me then and explain how it would work in your view?
You clearly dont understand how that would work
I think you miss understand what is meant by take private. It will be Lord Cruddas who will buying the outstanding 35% at low prices and taking the business back into (his) private ownership.
Given he will get 65% of "the price" I think Cruddas will make sure its good it that where to happen
This will recover. I remember PLUS at sub 200 and everyone selling.....