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Correct me if I am wrong but think they are selling on their dealing business.
Will become a trading platform from around the 24th January
Undervalued compared to market peers
Only one way for this company!!!
According to the announcement this morning:
"Guy Wakeley will step down as Chief Executive and as a Director with immediate effect by mutual agreement."
Share price actually went up 1p today - but no market reaction and no chatter here.....
Normally - when a CEO departs suddenly the markets see it as either a positive / negative effect and the shares rally / dump accordingly. But with this announcement today - nothing - just a regular day's trading.
Either:
The markets have lost all sentiment for this stock (Only floated a little over 5 years ago) or
They are so ambivalent towards the departing CEO that they barely noticed or
A state of shock has hit the MMs and they need to digest it for a few days before reacting (a bit like losing an England / Germany penalty shootout when there is a delay to putting the kettle on)
Whatever the City & MMs think - clearly there are better and more volatile stocks to be making returns on.
Thoughts ??
RNS Number : 8955G
Equiniti Group PLC
30 November 2020
Media Release
30 November 2020
EQ adds 2020's biggest listing to Boardroom client roster
· UK's leading share registrar appointed for Europe's largest ever e-commerce IPO
· EQ maintains its position as the share registrar and share plan provider of choice for the market's biggest brands
· EQ adds five IPOs and six registration transfers in 2020
EQ, an international technology-led services and payments specialist, is delighted to confirm its ongoing role as share registrar and share plan manager for THG, after supporting its IPO.
THG, a Manchester-based e-commerce company, listed on the UK Main Market in September with a market capitalisation of £5.4 billion, with 376 million shares sold at 500p, raising £1.88 billion.
EQ, through its dedicated service, supported 144 shareholders selling into the IPO, with previous private equity owner KKR selling down its entire stake worth £448 million.
Significant investors were BlackRock, Henderson Global Investors, Merian and the Qatar Investment Authority who collectively bought £565 million worth of shares.
Despite lockdown putting the brakes on IPO activity, EQ has already acted as registrar on five main market IPOs in 2020, and has won six new share registration clients from competitors during the year, including one large FTSE 100 company.
As registrar to around half the FTSE 100, Guy Wakeley, Chief Executive of EQ, was delighted that EQ continued its record of managing the biggest floats on the London Stock Exchange.
He commented: "We are delighted to have supported THG's successful IPO and are excited to continue our work with the Company as its share registrar and share plan provider.
"Our specialist team and market-leading technology combined to deliver an outstanding service to THG, particularly given the relatively large number of selling shareholders. We are proud to maintain our position as the registrar of choice for assisting prestigious brands with their journey to the public markets.
"Although 2020 has been a time of extraordinary disruption, EQ now has a strong pipeline of IPOs stretching into 2021, as London continues to serve as the venue of choice for companies to access a broad base of international investors."
Any idea why this share has been on the up this week? Something brewing?
Thanks UKinvestor, Feb 21 is when I'm taking it.
Wouldn’t worry anyway re pension but FYI it is protected to 85k
https://faq.eqi.co.uk/help/legal-and-regulatory/protecting-your-assets/eqi-FSCS
Hopefully you won't need it soon!
Not nice but all just temporary.
My blinking pension is with these lot !
Yeah pleased I jumped from the car on this UpShunt, should have been better, but better to admit defeat and take a small loss than sit it out potentially - one of things spooked me was they guided cumulative £25m hit from interest rates falling despite their interest income line being less than that. But it should be more defensive than a 30pc ebitda fall that means Q2 was -60pc.
People still buying at _20% hoping for a slight fall back.
This is on a nose dive, best to wait till the end of the day I would expect to buy any.
Not a vintage set of results, see FV 145 but sold 138 straight off the bat as no catalysts, made a few % loss but can’t win them all!
Added a bit more today.....will be interesting whatever happens
Still here in this one, for better or worse
Seems to be beginning to move though this stock loves a good false dawn.
Simply not working at the moment though I struggle to see the level of earnings impact the current SP implies and the Australian peer I mentioned is doing well. Also note a (small/20k) director buy last week. Am in at about £1.41 avg, fingers crossed!
If it was terrible it was terrible when the stock was trading 50% higher but I take your point - may suggest business needs greater investment.
had the misfortune of joining this platform several weeks ago because of a saye scheme.
Whoever wrote the coding for the platform needs sacking. It's terrible. Does anybody use it as an investment platform? No wonder the shares have collapsed.
The trading action here makes me nervous but interesting given extent of selldown for what in some ways is a staple-like service to companies. Peer seems to be Computershare in Australia and before considering obvious business losses due to COVID I make that worth about $14/share vs. the pre-Covid price (a bit over 20% upside) baking in permanently lower interest income (was v high for them) vs. about £2.10 for EQN (40% upside).
Put another way, interest income was about 15% of pre-COVID EBITDA for Computershare and 5% for Equiniti.
Great to see this share on the up. Way under valued. You never know may be taken over.....word of it last year.
Sorry, there isn't one!
After due consideration the Board has decided it will no longer propose a final dividend for the year ended 31 December 2019 at the Annual General Meeting to be held on 7 May 2020.
GOLDMAN CUTS EQUINITI PRICE TARGET TO 260 (300) PENCE - 'BUY' - I note they don't say when though.
The thing with EQN is that it never fails to disappoint. Luckily it's a very small part of my holdings so it just sits there a) as a reminder that I should really start using stop losses to avoid these situations but more b) hopefully someone will take pity and take out the BOD's either an active investor or a takeover.
looks like it today!
I hate seeing 'lower end of market exceptions'.....still I think £2.20'swill soon return