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Buyer back in
The link never works well from here. Type made tech contract wins in to Google and then go on bidstats website. This is alongside 6 million pound contract with the FCA and one of 60 suppliers in 2 contracts worth 600 million each.
Do u have a link ?
Made Tech awarded another contract worth £3.1m, when will any of this be communicated?
11p a share hugely under values MTEC based on FY revenue up 37% to £40.2m, cash of £8.5m, contracted backlog growth of 44%, EBITDA of £1.5m and sales bookings up nearly 40% at £69.9m.
A reminder, MTEC's share price was over 40p in February of this year and just 2 years ago it was 140p a share. A significant share price re-rate is on the cards here.....
Good luck, Brighty
There was a 510K sale on Friday and I get the impression that’s the last block from the seller as it’s moving up freely now.
Fund related forced seller . Was listening to a podcast about how some funds were liquidating their holdings
For various reasons . Creating a buying opportunity in fundamentally sound stocks
Looks like this may have been one of them
Think overhang cleared Friday as NT to buy
May see a move up now
That half million + ( 587k ) sell looks like the reason
Decent buys today yet the L2 is weaker
Behaves like a SETS stock
Something seriously wrong here or this is too cheap now
The company doesn't help itself with its minimal communication. Small cap stocks need the oxygen of regular newsflow. Problem being when there is any decent news it has a long way to rise and conversely with any poor news.
I have to agree, this share bamboozled me. They've signed 2 new contracts and still no update. I'm guessing they will cover in a trading update shortly, after they've picked off a few sellers.
Atb
What a puzzle the MTEC share price is? This is a company going places with FY revenue up 37% to £40.2m, cash of £8.5m (as at 31st May), contracted backlog growth of 44%, EBITDA of £1.5m and sales bookings up nearly 40% at £69.9m BUT with a share price at just 10p? Something does not stack up here? MTEC's share price was over 40p earlier this year and a couple of years ago it was 140p a share. Logic would suggest that a significant share price re-rate is on the cards here unless a cheeky MBO at 17p is on the cards as you suggest....
Good luck, Brighty
TPX results were not great today, margin down.
FRom the MTEC FY Results,
"One of only 11 suppliers to win a place on Lot 2b of the new Digital and Legacy Application Services framework ("DALAS"), which is expecting to spend £700m-800m until September 2027."
Bidtstas report it as being a project with a total value of £2bn which supports lot2b being of said above value. So more like £60m - £70m.
https://bidstats.uk/tenders/2023/W38/807206994
62 Companies this is split by, if split evenly would be 10m over 4 years?
2.5m a year.
Here, as to how big is the question. A bone from the co wouldn't go amiss.
Interesting buy considering where this has fallen since IPO . Right upto the threshold. The company does the bare minimum in RNS filings and updates ( as a lot of new listed companies) We know contracts are still being won, maybe the two main directors see value in the current price . A buy out at 17.14p is value given the IPO.
There is definitely something going on with this company. Two big contracts won, one on their for 6.5 mil and one of 60 suppliers for a contract worth 650 mil and no update issued.
Then the director buys his max quota of shares?
Those two directors cannot buy more without making an offer for the whole company, at a price no lower than the highest price they paid in the last 12 months, which is 17.14p, and would cost £14.5m. They received ~£57m from the IPO.
Few buys at the end who have seen it I think
Made Tech one of 60 firms to be awarded FCA contract worth up to 675million over 4 years.
https://www.publictechnology.net/2023/10/27/business-and-industry/financial-conduct-authority-signs-675m-digital-services-framework/
Made Tech one of 60 firms to be awarded FCA contract worth up to 675million over 4 years.
https://www.publictechnology.net/2023/10/27/business-and-industry/financial-conduct-authority-signs-675m-digital-services-framework/
Ftse Ex - yes somewhat contradictory hence my comment about a much needed trading update. However, bear in mind this is only 2 years on the market and floated at an overpriced 122p per share and m/c of £180m. Looks cheap on current metrics. Bit of interest today.
Traa - agree with your sentiment but the fly in the ointment for me and no doubt is one reason for the drop in shares is that in the YE statement they also said "Revenue for FY24 expected to be in line with FY23, due to near term political and macro environment challenges."
This clearly does not marry up with the order backlog unless they foresee further push back on start dates.