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What's that all about?
Today was obviously a smash and grab, right from the off.
Sadly, I had no funds to add. Never mind. Looks very good for Monday!
There you go! I hang my hat on a Monday sale RNS.
This stock tends to have 'funny Friday's if memory serves me correctly. I might do the analysis if I can find time..
This looks like more organised than normal however, and if we get some large 'after hours' trades today, I suspect an RNS will drop Monday.
Shandypants2 Typical shake bud, they need stock . it has happened a couple of times but the buying kicks in and they have to reverse.
A strange trading day. A big drop in the morning on what appears to be light volumes, followed by a steady rise this PM to finish up on the day.
I think the big positions were taken a number of weeks ago and other than a few nervous sellers, maybe happy to take a profit now if they bought in the 5s, most are sitting on their hands.
A big week next week for sure
If i didn't know better i would say that was a grab for stock & hunting stop losses. , thank you mm,s .
I suspect we will now get an update next week - be it re the sale and/or the trading update.
With another 6 months trading data available it maybe the price for the Mgmt division is being revised up to reflect further growth.
The Services division grew 87% last year so hopefully this momentum has continued too.
The SP seems to have stabilised a little recently, although there are still a few large late reported trades appearing daily.
I am surprised this is still valued at under £30m - seems a reasonably low value even without the sale.
Once the sale is confirmed i can't see how this can be valued at less than £45m c 12p a share.
I have watched this board for a while, alongside the ADVFN board, and have enjoyed the back and forth. Even though I no longer work there for, in my opinion there is no doubt the business will go from strength to strength
Well, if you could give one of your old colleagues a call and ask them to get a wriggle on, that would be appreciated. :)
Given this is your first post, what prompted you to contribute?
I used to work at eEnergy and if a deal is as close as its thought, there is no way they will let it slip away now
A big late reported trade yesterday of over 600k shares shows there are things going on behind the scenes. Currently HL let's me sell over 250k shares at well over the bid, but limits buys to 15k shares. Guessing there is a big buyer in the background
I think news re the sale of the Mgmt division could drop any day now, certainly in the next 2 weeks. As this offer is in excess of £30m and the current valuation for the whole of EAAS is c £29m there is much upside.
I've looked back on the details of the Utility Team purchase in 2021. The initial price (not including the performance add ons) was 7.1 c EBITDA. EBITDA is £4.4m as of 30/6/23 so that's £31m. I suspect this is the minimum we would accept upfront.
A total EAAS valuation of £46m is 12p - seems low to me but is c60% above the current SP
There was a trading Update last year on 25 January. Hopefully, some updates on progress soon.
Profit taking for sure. If someone got in at the time of the potential sale (sp @ c5p) they are sitting on c40% profits, so it is understandable. Longer term holders might need to see a bit more upside. :) I am averaged in at 6.7, and agree with your sentiment on valuation. 13-17p seems a sensible range, and I remember when this stock went to 27p when they weren't even profitable. in terms of the deal, it does feel like the sale is close, but I am sure I said that mid December... :)
I believe we will see a more positive AIM market in 2024, so I hopefully this stock feels those tailwinds. Good luck all.
With this morning's SP rise the company is now valued at c£30m . This was always my minimum expectation prior to sale confirmation based on the info we have , that the Energy Management division is being sold for in excess of £30m.
Based on this then the whole of EAAS must be valued somewhere between £45m and £60m, so a decent upside is still to be had.
Seems like there is a little profit taking before the next leg up but someone has paid 8p this morning, which is nice to see.
100%, i think we will have news next week (one month exchange). Topped up another £1,800 worth as well.
Ticking up nicely now - over 7p to sell and 7.15 to buy. There was a late reported trade yesterday of 790k shares at 6.68. Based on the price it looks like a sale, however, for such a large amount maybe the MMs dropped the price to get some shares in. It was difficult to buy more than small quantities all day yesterday.
It appears things are back to normal today.
Current SP values the company at c£27m - yet we have a buyer for 1 division in excess of £30m.
Could be confirmed any day now
The current spread has closed to almost nothing - i'm being quoted 6.87 to sell and 6.89 to buy . I suspect something is afoot.
Yep, have to agree i suspect the legal teams are only back to day, or at least the senior ones.
So whilst it could be announced at any time i suspect week commencing 15/1 will be the earliest.
A trading update is expected in late Jan so it could coincide with that as if the Energy Mgmt division has grown by another 10 or 20% in the last 6 months i would expect that to influence the sale price.
Personally i suspect they will want to keep the 2 separate so i'm expecting the sale to be announced first.
The Management division also includes Beond which was purchased in Dec 2020 for c£3m. The £21m Utility Team purchase was for £15.8m upfront and another £5m based on performance.
c£11.5m was paid in cash (funded by a placing at 15p) and the remainder was paid in shares, priced at 24p.
Of the extra £5m i believe the only additional payment was c£1m in extra shares, also at 24p (issued in Aug 2022).
Since the acquisition revenues have grown c20% each year.
Yes I believe so, albeit they probably didn't pay anywhere near £21m in reality.
"eEnergy acquired the entire issued share capital of Utility Team for up £21 million, comprising a combination of up-front cash consideration and the issue of shares in eEnergy and an earn-out."
I suspect this might trundle along a bit longer to be honest, thinking mid month. I doubt the lawyers are even back at work yet. I hope I am wrong. :)
We should hear (good news) any day now businesses are back from Xmas holidays.
Is this the same part of the company that was purchased in September 2021 for £21 million ?