The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
He is a Director of Customised Packaging , who we acquired last week
New 5%+ holder disclosed. They must have bought at least 619k shares to take them above 5%, but as usual the relevant buys do not appear to be amongst the trade data listed on this site.
The market must be waiting to learn of the result of their "review to determine the most advantageous route to deliver shareholder value and apply the net proceeds from the Disposal".
I don't think the market expected that either. However, good to get part of the cash pile working, and shouldn't stop them throwing us a bone or two.
I didnt expect that & interesting to see whether JG had a series of small acquisitions lined up & that this will be the first of several- or a one off & with a decent capital distribution to be made
There is a pro forma balance sheet in the 19 January RNS
Looking to buy here.
One question... does it not still have £7 mil of bank debt though?
Disposal completed today. Group now has £8m net cash, or 9.6p per share.
Net asset value following the disposal will be about 16.5p ( including cash of about 10.5p) & if our Haydock Freehold is sold for , or revalued at ,say £2.5mil,that would increase to around 19p.The value of our remaining ( & profitable ) subsidiaries , if sold could add a further 5/6p , increasing our prospective asset value to around 25p.
As I have said previously , I reckon JG , in his 70s, is looking for a decent exit for his shareholding & he will either dispose of the remaining assets, make a capital distribution & reduction of capital, leaving a clean shell for a company to reverse into , or he will have identified a larger private company in a similar sector to reverse in once all capital movements have been resolved.
Either way , provides an opportunity for a gracious exit for all long term very stale bulls & a very decent exit for those buying around 5p late last year .Most of us, including JG , will be glad of an exit
but can only be speculative until we get detail tomorrow. Took a small position as perhaps the new entity will be a leaner , meaner company after what I presume will entail a return of capital to shareholders.
In no hurry to inform the market, it seems.
But, assuming it did complete on Friday, I can't blame them for taking the weekend off!
Expect they were burning the midnight oil. So it looks like Monday for the RNS (though it's not unheard of for RNSs to be issued over the weekend).
RNS tomorrow re completion? Including details of how value will be returned to shareholders?
this morning before the disposal. I will wait and see what that brings. Hopefully not too much downside compared to potential upside. Will add again when I have clarity on the proposals as I am sure investors haven't fully grasped what is going on. A binary play.
All resolutions passed, so it's full steam ahead for disposal to complete on 26 Feb.
General Meeting about to begin at 12 noon.
You should see a return of at least 50% within a matter of weeks, maybe even doubling your money later in the year. Seems to be off most investors' radar, so well spotted.
and will add again next month. Hard to work out the outcome but paid 10.74p which I hope to recoup as much as possible and be left with some value in the new entity.
Interesting fact: the projected £9m of cash following disposal is equivalent to 10.5p per share, coincidentally the current SP!
...following a General Meeting on 11 Feb.
This will leave the group with nearly £9m cash.
"The Board will conduct a review to determine the most advantageous route to deliver shareholder value".
I'd expect a fair chunk of the cash to be returned to shareholders. I wonder if that could happen before the end of the tax year even.
Share has come alive again today. This site has it closing at 9.5p, but with bid 10p and ask 11p, shouldn't that be 10.5p? ie 10% up on yesterday. This is getting interesting...
SP holding up well. On Barclays, 10p to buy 50,000, 9.1p to sell, mid-price 9.55p.
CRU appears to have been put off its stroke today by the long 4.5 day break, though to its credit it did hold its own.
It'll only be a matter of time before it regains the momentum it found on Xmas eve.
The only possible short-term snag is if Miton try to sell off their remaining 7%.
I would be surprised if they invest in anything but not if they paid special dividends .A syringe manufacturer could however reverse into CRU
I'm also hopeful of a special dividend of say 5p mid-2021.
No harm writing to the board, but I suspect they would need specialist plant to manufacture pharmaceutical grade syringes.