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Interesting that in June 14 Ami Vizer sold 130k shares to meet market demand. Not a lot to sell to satisfy the market. Now we have a proposed buyback (which I'm happy about especially if so few shares might affect the sp) and I'm on the edge of my seat to see if it is going to be significant. Anyone out there got ideas about the size of free float? If it's not a lot then the sp should react quite well. Time to top up? gla.
With the amount of cash they have available the share buyback is likely to be significant. And with a profit of $1.6m forecast for current year the current sp is looking incredibly cheap. Looks like the market thinks so too - ticking up on almost every buy. This is very much under the radar for most but we might start to attract the attention of the crowds soon.
Back from hols, so pleasing to see the share price has performed extremely well given the disappointing contract delay and additional costs. SIM are a microcap who've won extremely large (for their size) government contracts. We all know what can go wrong with such contracts. so delays and spec changes are hardly a surprise, but to a company of SIM's size the effects are highly material. The saving grace from a shareholder POV is of course the cash pile of more than $8m, plus other assets, which nicely supports the current £10m m/cap. Even with this setback SIM will still be profitable for last year with "at least" $0.3m PBT. Finncap have retained their 45p target price. For this year Finncap now forecast 3c EPS, i.e 2.4p EPS, based on $1.6m PBT. Given the contract revenues now deferred into 2017 this looks highly achievable. There will also be 0.7c dividends each year. It's also good to see the intended share buyback programme. The timing of this will be interesting.
Well we didn't quite manage to turn blue at the end but a good recovery. Share buy back completely outweighs the slightly disappointing delay in booking revenue and profits. I expect this to put in a strong rise this year, probably towards finncaps target of 45p. Just look at EMG to see what a share buy back programme can achieve. They are up 20 per cent since it started a nd they only plan a 3 per cent buy back. Here it's likely to be at least £1m which at today's sp would take out 10 per cent of total share issue, which is 30 per cent of the amount in public ownership. Those that sold at 16p first thing this morning will be kicking themselves now.
coming in. We will end up blue at this rate. And then all the headlines will have to be re-written: SIM announces share buy back...
And with only 28% of shares in public hands any significant buy back will send the sp rocketing. At the current price that 28% is less than half the cash they have available.
And i do charlies, not that im qualified to give advice. Im prepared to wait a year for this to come good and i will add on any further good news. ATB
Looking at the RNS again, although the delays are frustrating its no big deal. The big story is the planned share buy back. The cash mountain they have been sitting on has never really been reflected in the sp and now some of it is going to come to us in the form of fewer shares in the market. They clearly believe the company is way under valued at the current price. Me too.
You timed that one right. Ticking back up again now. Standard MM price drop but the fundamentals are too strong here to be blown off course by a cashflow delay.
back in with the same trade i sold last year at 22.4p. lovely. 6m cash helps underpin the sp . gla
Looks like initial reaction is to take the opportunity to buy on the cheap.
So, some revenue and profits from 2016 will now be shown in 2017 (no big deal). Still making a profit. Still got over $8m in the bank. Share buyback to come later in the year. Bad news (ish) for last year. Good news for this year and better to come. Lets see how the market reacts...
For the record, the current forecasts are (at the current $1.236 to the £): 2016 - 2.7c, so 2.18p EPS 2017 - 3.0c, so 2.43p EPS Finncap also forecast $6.7m cash at 31/12/16, against the £11.7m m/cap. Over time SIM has the potential to be a one or two-bagger at the least if all goes well. IMHO
Is good for SIM. All those dollar earnings now worth many more pounds.
And a further buy of 212,511 shares at 22p from Monday has now - a bit late! - been listed. Very keen buying indeed.
The silent movie of the minnow caps has come to life over the last few days. Maybe, Simigon ‘The Mummy’, has started to talk and has awakened the slumbering audience from its deep sleep? I was quite jolted out of my comfortable snooze, I must admit.
Wow - 98,015 shares bought at 25.5p :o)) Plus a further 97,000 shares bought at 23.13p. Very keen.
strange movement for a usually very quiet share and without any reported trades to go with it. Looking forward to tomorrow - could be interesting (well, interesting by SIM standards anyway....)
Late Buy trades yet to be reported?
The AGM yesterday was uneventful as ever with all resolutions passed. Idiotically, I hadn't realised there was a dial-in facility to take part with. Maybe next year: Http://www.investegate.co.uk/simigon-limited--sim-/rns/result-of-agm/201612291512019903S/ The similarly succinct AGMs in the last three years have each been followed by positive trading statements in respectively, Jan, Feb and March. Let's hope for the same this time.
retest 14p again? Roughly net net there & profitable (p/e of c4..ev/ebit of c1-2 @ sp=14p) ..all suggests punters are concerned whether SIM is kosher?? Would be nice to see SIM cited by major US and other corporates as provider of valued services
Hi Jolly, hope all is well. For the record I placed all the proceeds from here into KENV. which has already recovered my losses with a lot more to come IMHO. GL. TP
TP
Israel? So heavy handed protectionism v SIM less likely??
Nice 40k buy at 23p caused a tick up. I'd have thought Trump's focus on increased defence spending would be good for SIM, with the likes of Lockheed Martin, the US Air Force etc as clients.