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lots of buys now
The only explanation is that the sold shares have helped offset the market makers net position - they were short of shares this morning and the sales have helped balance this. As it's also been NT for 1k shares since they dropped the ask to 76p at 12 noon it appears they have no shares to sell at this level but want to scare more sellers by dropping the bid... this suggests they are still short of shares
WHat does L2 look like?
How does it go NT to buy after supposedly £80k more shares have been sold today lol
Yep it's complete b*llocks really! The sad thing is that if you're a new investor and have bought expecting an instant rise, are not paying attention to the real spread by making dummy buys / sells and don't have the L2 order book then you are going to get shaken out. If you've maxed out your account balance you aren't going to dummy buy before selling because you can't... It's a matter of taking a sensible position and then waiting a few weeks for the interims to land, then the current fun and games will be history.
I've never seen a scaling up SaaS company with £30m in the bank trading at 1x recurring rev / EV, it's mad. With £19m in recurring revenues @65% gross margin, a competitor could buy ESYS, cull all of the staff and make their money back within 12-18 months...
Yep can't buy anything. Utter BS
Yep, and each time they drop it they make it NT to buy like it is at present. If there was tonnes of stock available then this wouldn't happen.
NT for 1k shares at 76p but guess what the amateur investor does? Sell 16323 at 74.85... Once enough of these shares have been shaken out the L2 book will flip and the price will rise IMO.
Another low volume walkdown to shake out retail.
How many traded last week to move it up Vs today's retrace. I've seen 9 pound notes that are more legit.
Yep, they are trying everything to shake PI's out because the upside is so obvious. They carried out two shakeouts as soon as PI volume arrived and have started the week with another. Having been over and over this shares fundamentals this weekend, there was simply nothing in the recent updates to warrant this fall. A few % off the SP would have covered it at the time.
Market makers are again messing with the spread to try and affect early trading sentiment here - everything has been a buy so far, however Berenberg decided to move their bid up to 80p so all buys at 80.2p show as sells. It's amusing to observe, they are clearly scared of a PI avalanche if this starts to make it's way back towards fair value so are pulling out all the stops to prevent this from happening!
The flexible office space market is set to grow enormously throughout this decade, a process which is already happening.
And as the global tech leader in this field, ESYS should grow enormously with it.
It seems almost extraordinary that you can acquire shares in the global tech leader in a sector facing such enormous growth, at such a knock-down price.
But stock market turmoil can sometimes throw up quite extraordinary bargains, that looking back on them a few years later look mouth-watering.
The challenge of course is to recognise and react to them at the time.
"THE FUTURE OF OFFICE SPACE TECHNOLOGY IS HERE
With our proven enterprise-ready office space technology, you can transform your buildings and your business.
We’re the global leader for delivering the digital services and office experiences that occupiers demand. The next generation of office real estate is here, and we’re ready to power a world that works differently."
https://essensys.tech/
"Flex office space market poised for more rapid growth
... “The increased demand for flex space is structural and not solely a result of the pandemic. As a result, we are seeing landlords and building owners including both flexibility and hospitality services into their portfolios,” says Homa. “They are exploring multiple methods of driving foot traffic, generating leasing prospects, and delivering modern amenities to tenants within these new flex spaces.”
Jacob Bates, Managing Director, Head of Americas Flexible Space at JLL, agrees that tenants have started to see flex as a key part of their overall business strategy. “Companies are looking for the agility that flex space provides,” he says. “Historically, businesses have been able to increase or decrease employee headcount according to market conditions, but they’ve felt stuck in long-term leases and space that no longer serves their needs. After all, you can’t lay off your real estate in times of trouble! But when a tenant starts putting a significant percentage of a real estate portfolio into flex space, they gain a new level of flexibility both from a cost and a space perspective that allows them to match their footprint to the changing needs of their talent base.”
Plenty of room to grow
At the moment, only three percent of the occupiers that JLL surveyed use flexible space for more than a tenth of their total office footprint. Still, JLL expects flexible workspace to continue its grow trajectory from a sliver of the overall market to a critical, mainstream element of the commercial real estate landscape.
“The adoption rate will vary among industries, but we still expect flex space to represent 30% of the market by 2030,” notes Bates. “I would say that high-tech and creative companies may integrate flex space into their office portfolios more quickly, although even we’ve seen even financial services firms move a bit more aggressively to add flex space during the pandemic.”"
https://www.jll.co.uk/en/trends-and-insights/investor/flex-office-space-market-poised-for-more-rapid-growth
"Flex office space market poised for more rapid growth
Nearly half of office tenants plan to increase flex space usage in the future
December 27, 2021
With tenants realizing that pandemic-driven uncertainty is set to continue, they’re increasingly incorporating flex space into their workplace strategies as they move toward a more agile footprint that adapts to their changing needs.
JLL’s 2021 Global Flex Space Report reveals that 41% of tenants expect to increase their use of flex space as part of a post-pandemic work strategy.
“Employers and employees have very different preferences in terms of managing the return to the physical office,” says Scott Homa, Senior Vice President and Director of U.S. Office Research at JLL. “Companies can reconcile these differences with flex space. Looking ahead, we think the broader concept of flexibility will be critical for the office market—not just in terms of how spaces are designed and used, but also the physical locations where people gather and work.”
63% of employees prefer a hybrid model vs. working exclusively in an office or at home
In the simplest of terms, flexible space helps companies become more agile by enabling them to lease smaller (or sometimes larger) office footprints that are available for relatively short time periods via a streamlined transaction process. Even in the decade prior to the pandemic, the global flex space sector was expanding rapidly at an average annual rate of 22%, much faster than the conventional office market over the same time period. JLL researchers say there are four main factors driving intense tenant interest in flexible space:
• Cost reduction. Pre-built spaces that are move-in ready can reduce initial out-of-pocket expenses, boost efficiency, and potential drive down total occupancy costs.
• Agility. Flex space allows organizations to ramp up faster and hit the ground running when they launch new initiatives or grow faster than anticipated. In the event of an unexpected event like a pandemic, flexible space allows companies to pivot more quickly to remote or hybrid work models without being trapped in a rigid, long-term lease.
• Innovation and collaboration. Unlike fully remote setups, flex arrangements encourage innovation by giving employees opportunities to interact in impromptu ways. Such interaction encourages cross-pollination of ideas and can lead to the development of new business concepts.
• Talent attraction. Flex space can give companies an edge in the war for talent by helping them quickly expand into a submarket with desirable workforce demographics or reduce commute times for existing employees. ..."
https://www.jll.co.uk/en/trends-and-insights/investor/flex-office-space-market-poised-for-more-rapid-growth
"Size of the flexible workspace market forecast in the United Kingdom 2019-2023
Published by Statista Research Department, Nov 30, 2021
According to the forecast, the volume of flexible office workspace in the United Kingdom is expected to nearly double between 2019 and 2023, reaching 167 million square feet in 2023. Flexible office space, also referred to as coworking space or shared office space, refers to commercial office space that allows short-term leases to individuals, freelancers, small and medium enterprises, and other professionals. In contrast to traditional offices, flexible offices provide equipped and serviced office premises without long-term rent commitment."
https://www.statista.com/statistics/754743/volume-of-flexible-office-space-united-kingdom/
"A Tonic for Uncertainty? The Post-Lockdown Demand for Flexible Office Space
... 1. Amid uncertainty, some businesses may prefer flexible contracts
The future is unclear. The operating environment is full of unknowns; moving forward, businesses concerned by this might be cautious with their plans. To ease that level of uncertainty, some will choose to start aligning their real estate strategies to ensure a sense of flexibility and freedom, which is exactly what flexible office space provides.
As we’ve said, the option for short-term, rolling contracts, combined with the flexibility to shrink and grow the amount of office space you’ve signed up for could offer some peace of mind – especially for startups and scale-ups.
2. Fitout delays will setback re-location projects
Bigger businesses that were undergoing fitouts and re-location projects may have had their timelines shifted back by supply chain constraints and construction delays, and “flexible [office space] will be an area that occupiers gravitate towards to cover that delay”, according to Elliott.
Those in need of a stop-gap solution will be enticed by flex’s ‘ready-to-go’ workspaces – especially considering the speed at which you can start your search and move in two weeks later.
3. Businesses will embrace an agile working model
Under social distancing guidelines, offices may no longer be able to welcome the same number of employees as they used to. For a period of time, businesses that are tied into traditional leases might find themselves with just 50% of their previous office capacity.
Naturally, this will create an overhang of employees who need space to work in. Some businesses will embrace a rota system and others will continue to work from home, but not everybody wants to.
Elliott explains: “Of course, many will continue to use working from home strategies to enable that, but some might actually go in to flex space because they’re unwilling to go down the remote working route”.
Younger generations will be itching to get back – especially those who have spent the past few months working from their bedrooms, sharing a WiFi connection with four other flatmates and having to walk to a park to enjoy the sun.
Responsive businesses who recognise the value of office space might choose to place these employees in satellite offices near their homes or in flexible overflow space near company HQs.
4. Businesses will restructure and opt for project space
As Elliott explains: “I think we’re going to see significant business restructuring coming in. We’ve got digital transformation pressures emerging with great gusto out of the Covid-19 crisis and we know that digital restructuring teams are often created by businesses and put away from motherships, often in flexible space”.
Separating initiatives like these from the business-as-usual environment and taking up a creative, collaborative project space can help drive innovation and inspire outside-the-box th
"A Tonic for Uncertainty? The Post-Lockdown Demand for Flexible Office Space
The case for the office has been made. The world’s workforce will eventually emerge from its #WFH hibernation. But amid global uncertainty and unpredictable change, traditional office leases may feel like too big a commitment for some businesses.
The tonic: Flexible office space. Though it’s not your only option, it might be a good one.
Flexible office space was popularised by providers like WeWork, TOG and Regus. Offering trendy, ready-to-go workspaces, networking events and stocked kitchenettes, they paved the way for a new world of work; one that celebrates the productivity power of a breakout space – and a weekly calendar of networking events.
Attracting disruptive tech startups and bigger corporates, businesses of all sizes have gravitated towards the ease, flexibility and cost-effectiveness of this serviced office route.
The now mainstream success of flexible office space has invited many to simply call it ‘office space’. But before flex, the 25-year leases of the 1980s, and today’s traditional, seven-year London leases involve long-term commitment to the same square footage, hefty upfront costs, and the chore of having to furnish a completely empty space (and of course, clear it out once when you leave).
But today, flexible offices give you the agility to move straight in, shrink and grow your space depending on your headcount, budget accordingly with an all-inclusive cost and stay flexible with a monthly rolling contract. ...
4 market shifts that could drive businesses towards flexible office space post-lockdown
Speaking on the re-occupancy of office space, Lee Elliott, Global Head of Occupier Research at Knight Frank explains: “We do see value in offices going forward, but we also see significant evolution of the office product through twelve predominant dynamics. One of those dynamics is about flexibility. Over the course of the Covid crisis and beyond, there will be further drivers for the flexible market”. ..."
https://www.knightfrank.co.uk/office-space/insights/help-with-moving/flexible-offices-tonic-for-uncertainty
"SUCCESS STORIES
We’ve helped hundreds of flexible office providers deliver exceptional workspace experiences
From provisioning services for occupiers with just a click, to companies taking their workspaces to the next level, we’ve helped hundreds of CRE and flex-space operators transform their operations. ..."
https://essensys.tech/success-stories/
Good to know because these closed period rules are confusing.
Optimistic about the share price in the coming weeks.
Can buy at 79 now
And still NT... so far 3 sellers have given their shares away but it hasn't touched the sides. Very unusual to see such a long period with online buying disabled...
It's been NT to buy 1000 shares for over 20 minutes, I suspect they will have to move this up quite rapidly now that they've lost their big seller. For me that's the most significant part of the directors buying in - they wouldn't do it if they thought it was going lower & the main driver for that would be a distressed seller. I suspect Blackrock are now out & it's just a matter of buying and letting Demand > Supply push the share price higher.
Chart setup for those interested. NT to buy at present.
https://twitter.com/Sanch3z599/status/1504820629907943425?s=20&t=wvZtDaWH-sBh9tc9EYJ3gg
"A "cluster buy" like this from the BOD is hugely predictive of better times ahead."
I totally agree, Unhooked.
And the combination of multiple directors buying, with the large sum invested, is particularly impressive in this case.
The five ESYS directors/PDMRs concerned have spent £328,463.70 in aggregate on buying ESYS shares this week.
In addition, they obviously felt that they couldn't wait just one month longer until the interim results on 21st. April!
Though of course they could always come in for second helpings after that ...
They are banned, but the period is just one month before the interim results, rather than two months before the final results.
So with the interims to be announced on 21st. April, this has enabled a brief window of opportunity for them to buy in between the trading update and the interims.
Sorry for any confusion created by my 10th. March post on the subject: it was only the next day that the interims date was announced, which will be nearly 7 weeks after the trading update (of 1st. March), as opposed to just under five weeks last year.
This has given the directors a reasonable amount of time to buy in between the two, which would have been challenging otherwise.
Sellers now are cashing out for about 5% gains at a point when the directors have signalled clearly to the market results are going to be decent.