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All,
This looks like a CEO and BoD play!!! Either they are looking at a new M&A and we don’t know? OR they are setting up ESNT fora takeover, with cheap shares, no debt, money in surplus and buybacks happening. THOUGH the buybacks are being poorly handled by Peel Hunt who should be buying around 200,000 -250,000 per day at £2 / share!!! Plus now when the sp is 185p why are they not taking advantage and buying 300,000/day???
Something not right!!!
LTH keep strong! After minor blip to sp because of final divi on 18 May, the buyback by Peel Hunt is struggling to buy cheap shares under £2 as yesterday only bought 69,000, a very small figure. They need to be buying back 250,000 a day to use the 60 million pounds allocated by end of August!!! Hold strong and it will,pop bavk to 220p within weeks!!
The sp will start to tick up again after the final 1p divi, plus further buybacks right up to end of September as it will take Peel Hunt that long to buy back £60 million pounds worth, to date only about £10 million spent, long way to go! This sp will be back at 220p as soon as people read between the lines and see the potential and increased sales and acquisitions down the line!
After the 2 x 1 million share purchases after hours yesterday and Peel Hunt only buying back 50,000 the MM and II’ and PI’s are LTH and holding not selling, so should see 209p today and the price go above 215 next week, as investors see growth, profit and a steady share for the future and now streamlined and focused.! Someone is taking an interest!
Very big dividend payed today the GBP150 million return plan
Thu, 2nd Feb 2023
Newly-trimmed down Essentra announces GBP150 million return plan
(Alliance News) - Essentra PLC on Thursday said it will press on with plans to return GBP150 million to shareholders following the disposals of its Filters and Packaging divisions.
Essentra shares were 5.3% higher at 230.50 pence each in London on Thursday morning.
The return will be done through a combination of a special dividend and a share buyback programme.
Essentra will return GBP90 million, around 29.8 pence per share, through the special payout. This will occur on April 27.
It also will kick off a GBP60 million buyback following the release of its annual results on March 22.
Essentra in December said it completed the sale of its filters arm. It sold Essentra Filter Holdings Ltd to a subsidiary of Centaury Management Ltd. The GBP200 million deal was first announced in October.
Back in June, the company said it had sold its Packaging arm to Mayr-Melnhof Group for GBP312 million. This sale was completed at the end of September.
By Eric Cunha, Alliance News news editor
Pacino - Great to hear you are up! Plus as it gets back to 215p we will all benefit! I will be buying as many as my special divi will allow at 27 April at below £2!!!!!!! Then bingo at 215 sell, win, win, win all round!!
Thanks Pete. I already hold and I’m at about break if you include the dividend. My plan at the moment is to hold to see the benefits of the buyback.
Buy if you can as this will go to 215p during share buy back! So an extra profit on special divi. This sp should be back to 230p soon! A well run company with a better structured and supply chain! Keep the faith, don’t sell cheap, let the Institutions and money markets sell back to Essentra! The sp will tick up as sharesdry up and they have to pay more to buyback at 201 / 203 and 210.
See the RNS. Running until 60 million spent, which should be around 100 working days and end of August/September time. Hold, hold, hold, the sp will get past 210 very soon! Especially with special divi paid on 27April and with people re-investing will see sp rocket to 215-220p by August!
Hi all, when does the buyback run until? I couldn’t find the full details, so if anyone has a link it would be appreciated!
Buy or hold to up the sp as Peel Hunt will buy 300,000 per day, at 197 and above from Monday! This will soon be back at 210p by middle to end of May! Hold for gold! Plus special divi payout on 27 April, let’s see how much is re-invested at lows of 198 to get in and stay until 228?
PI’s hold hold! Peel Hunt are buying up to 300,000 shares a day and need your shares! Let them buy from II’s and let’s see the price rise to 229p, just hold! Plus we are due a payment on 27 April, then another x divi in May! Patience and LTH to September/ October needed!
All LTH and PI’s and watch ESNT share buyback at 300,000 shares per day take the sp back to 240p, mainly from II and MM’s selling at higher prices, keep and hold u til August!
From January RNS.
FY 2022 PRE-CLOSE TRADING UPDATE
· On a continuing operations basis1, the Group expects to deliver full year like-for-like2 ("LFL") revenue growth of c.6.5%
· Disposal of Packaging and Filters divisions completed, realising Essentra's strategic goal of becoming a pure-play components business
· Q4 2022 continuing business revenue declined c.3.0% compared to Q4 2021, on a LFL trading day adjusted basis
· Pricing and proactive cost management actions have offset the Q4 volume decline profit impact
· Acquisition of the Wixroyd Group announced in December
· FY 2022 adjusted operating profit remains in line with the Board's expectations
· As previously guided, the Board confirms its intention to return approximately £150m to shareholders in the first quarter
Essentra plc, ("Essentra", or the "Company"), a leading global provider of essential components and solutions, today provides a pre-close trading update for the 12 months ended 31 December 2022.
On a continuing operations basis, the Group expects to deliver a robust financial performance with full year LFL revenue growth of c.6.5%. FY 2022 adjusted operating profit remains in line with the Board's expectations.
In Q4 2022, as anticipated, the business saw a period of slower global economic growth, with toughening market headwinds. Coupled with the strong comparative for the quarter, LFL trading day adjusted sales declined by c.3.0% compared to Q4 2021. Performance in Q4 has varied by region. The European business has continued to deliver growth at moderated levels, whilst the US business has faced greater headwinds, with signs of distributor destocking. Asia has seen a continuation of disrupted trading in China as a result of enforced lockdowns, with that disruption showing signs of abating through H1 2023 considering recent changes in policies.
Management remains confident in the business' ability to pass through price increases to offset cost inflation, and the underlying business operations remain strong. There continues to be an improvement in customer satisfaction and service levels through Essentra's ongoing focus on enhancing its hassle-free proposition.
Bought a few tho at the 13 year low.
Forget an them now...gla
Yes, but guidance was poor!!
Big buys are happening now. 282.4K shares just bought at 177.63936p
A last minute RNS - can you all believe it?
Hold your breath, results are expected to be inline with guidance.
Full year results tomorrow & final dividend announcement + 60M share buyback.
Today just seen a 185K buy for 177p - can't be bad.
If this time next week SP is 500p I'll be "Skippy the Bush Kangaroo".
There's only hope, desperation or being financially clever.
Essentra will pay a special dividend of £90m, representing approximately 29.8 pence per ordinary share (the "Special Dividend"). The Company intends to pay the Special Dividend on 27 April 2023 to shareholders on the register of the Company as at 18:00 (UK time) on 21 March 2023. The ordinary shares will be marked ex-dividend on 20 March 20231. The Board also confirms its intention to recommend a final ordinary dividend for the financial year ended 31 December 2022, adjusted to the earnings of the continuing operations of the Group2. Details will be provided at the time of announcing the full year results on 22 March 2023
Read last trading statement, says 21st.
Went ex divi yesterday
Ex dividend today, so big drop tomorrow...
Hit a low of 187.3p today. Not at a recovery point yet. 183p maybe.
60M share buyback programme to be announced on Wednesday could see a lift in todays price.
Well that was an interesting end to the day's trading with 1.93M shares disposed of by someone at 16:27 for £2.10 a share followed by significant volume of 1.08M in the closing auction at £2.14
Won't be that many holders who own at least 1.93M shares.
Looking at the company website the 12 largest shareholders (listed) own over 160M shares out of the 302M in issue. (not sure when that data was last updated)
Interesting to see what happens on Monday & then with the annual results on Wednesday. What will the normal dividend payment be ?
Given that the share price is going to drop to around £1.85 on Monday, the buy back program when it starts on wed/thurs is going to eat up a lot of shares. This £60M buy-back could end up reducing the number of shares in issue by 10% or more by the time it completes, unless there is a significant recover in the share price in the meantime.
That won't half boost next years eps etc.
LOTM