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Under the radar?
Let's not forget, these institutions seem to have a huge %%of shares tied up
£13m per year saving by a £120m mcap company as well as a positive trading statement and a well priced sale of an asset recently and we're 4.5% up...... WTF
By my calcs this adds an additional £10m in post tax cash flows and 1.5p in EPS in 2022 compared to 2020. Assuming performance from H121 is continued we could see the company with EPS of 5.5p, free cash after all interest and lease repayments of $25m pa, free cash per share of 3.5p and debt free in 2-3 years.
The building market has been buoyant to generate those numbers and HSS is a very cyclical business moving in line with the housing and construction cycle so there is a big assumption about business activity, but saying that the new strategy seems to be working and there should still be some upside, particularly on costs from network optimisation.
I can understand the markets lack of reaction, its impatient and doesn't really care about a penny value stock with extremely limited free float and a SP which has lost 90% of its value since the IPO. Its very much a patient value recovery play and not for everyone
By F1NESSE.
Is today's RNS something to do with your comments..
Stagnation22 Oct '21
Hi No1Scarlet and others. Shares only go up when there are more buyers than sellers. Despite the good half-year report no significant buying has happened so the share price has gone nowhere. There is what they call an 'open tap' somewhere so the market makers can get all the shares they want without raising the price. There are also a ton of 'stale bulls' in this share, dying for any small rise so they can sell. This is both from before the rights issue - the share price churned at 40p for a time - and even after the rights issue when it leapt from 10p to 25p in short order and now everyone would sell at 25p in a flash. Moving the share to AIM will have reduced institutional interest too. I do believe however eventually the price will rise as the value seems to be there but we may have to wait a while to work our way through the above technical situation.
The good bit of the announcement for me was that they have reduced the gearing so that it should be possible to refinance the company with 'normal' bank credit rather than the eye-wateringly expensive loan capital they have at the moment - currently paying 6 or 7% over LIBOR. This is in their plans and mentioned in the RNS. There will be a chunky one-off cost but it should free the profits to flow to the bottom line. At present we seem to be looking at annualised profits of around 4p a share ( it was 1.61p at the half and 'Revenue, EBITDA7 and EBITA7 all above management expectations in Q3 2021 to date.' Also 'Management now expect full year EBITDA, on a non-IFRS16, continuing operations basis, to be ahead of market expectations and EBITA7 to be materially ahead ' ). That puts the shares on say about 4 times earnings. If you think that's cheap then just sit it out and eventually someone will start buying... My 12-month target? 28p perhaps with most of the rise coming on the refinancing announcement.
FWIW Speedy has a crapped out share price too (but not by as much). DYOR.
Well done folks.
You certainly have seemed to changed the position of the company...
With all these share movements in the background now settled with the bigger investors, hopefully we can move on upwards.
Even get a long over due re rate.
Thanks
&
Gla
Fantastic news, continued Strong trading as well, this is long overdue a proper rerate.
Is this our blue touch paper?
Good news, seeing a new lower costing refinance put into place.
Just in line with Fool article.
Gla
Posted on Adfn
By Tole
hTTps://www.fool.co.uk/2021/11/09/1-dirt-cheap-penny-stock-to-buy-in-november/
Ragnor...
Lol, it's out of date now!
Rns out, Tosca, reduced again.
Who is snapping them up though.
Gla
Now just under 85% with the latest Toscafund reduction
Exponent 33.8% 15/12/2020
Ravensworth 27.5% 27/10/2021
Toscafund 14.16% 29/10/2021
CIP Merchant Capital 3.6% 29/3/2021
Hestia 5.6% 28/10/2021
Yes,
Tosca reduced from 22.4% to 14%, over the last few days.
We just got to sit it out.
Gla
Sells!!!!
There are 2 sells of 2.5 mill shares shown today for Friday.
I am wondering if they are the same as I commented on them? Or are they another two..
The time listed is close to my post of Friday.
Would they be reported twice ???
Gla
Small buys are CFD's spread betting
London stock exchange showing a 5.26% increase and a closing price of 18p.
2x 2.5 million sold.
Certainly lots of shares are changing hands.
Lucky we are PI's as we are last to find out.
With the exception of a couple of busy days in October average value traded was less than £50k. Pretty tight for this size company
At least they have been snapped up, not dumped on the market....
But does it show what little %% is available for the open market.
Gla
Toscafund it is..updated holdings below. That covers the Hestia purchase but still a mystery where the rest came from. So 87% held by the top 5 holders
Exponent 33.8% 15/12/2020
Ravensworth 27.5% 27/10/2021
Toscafund 17.02% 29/10/2021
CIP Merchant Capital 3.6% 29/3/2021
Hestia 5.6% 28/10/2021
has to be coded messages in these buys!!
I think I counted 18 buys if 6 shares.
Well, one day we will find out.
Gla
That announcement made me chuckle. I sold but I promise I'll buy them back if I can get them at a lower price sometime in the future hahahahahah
This disposal was for estate planning purposes and it is Mr. Peterson's intention to rebuild a shareholding in the Company by buying shares in the market, subject to applicable guidelines and regulations.
Rag ...
Well we also know that AP... director has sold all of his holding.
Strange move unless he was desperate for funds for his future planning!
Gla
2 buys of 100k from earlier this morning posted!
Of 700m issued shares, 40m on Wednesday and 80m on Tuesday = 120m or 17% of issued shares in 2 days seems awful strange. We know who bought (some of them) but who sold them...
Whatever is going on in the background, we be last to know lol.
Gla & hold onto those shares..dyor etc
I went through the TR1s for the last year. Date for each as below. There was also for Standard Life/Aberdeen on 5th Feb saying they dipped below 5% so they may still hold some as well. Add ins some employee shares and a few other bits and pieces means there is almost no free float.. surely the two recent additions must have come from either exponent or Tosca? 10% couldn't have been bought on-market in a couple of days
Exponent 33.8%___________15/12/2020
Ravensworth 27.5%________27/10/2021
Toscafund 22.4%___________1/4/2021
CIP Merchant Capital 3.6%___29/3/2021
Hestia 5.6% _______________28/10/2021