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Make that 13.05%
Harwood Capital LLP been hoovering up.
Now own 12.74%
Must be an update on holdings. more trades in the last two days than the last two years
Someone's filling their boots.
"As announced on 22 August 2022, the Company is proposing a return of capital to shareholders via a tender offer of up to £5 million.
Documentation to give effect to any such tender offer would be circulated to shareholders in due course, with the current intention that the tender
offer would take place in October. As such Resolution 7 is being proposed to shareholders to enable the Company to undertake a tender offer.
Resolution 7 will be proposed as a special resolution for the authorisation of the Company to purchase its own shares in the market during the
period until the next annual general meeting of the Company for up to 8,333,333 Ordinary Shares, representing approximately 13 per cent.
of the issued ordinary share capital of the Company. The price payable shall not be less than 0.4 pence per share, being the nominal value of
the shares, and for purchases effected by way of a tender offer the price payable shall not be more than 50 per cent. above the average of the
middle market quotations for the Ordinary Shares as derived from the AIM Appendix to the London Stock Exchange’s Daily Official List for the
five business days immediately before a tender offer circular is posted. For any other purchase, the price payable shall not be more than the
higher of (i) five per cent. above the average of the middle market quotations for the Ordinary Shares as derived from the AIM Appendix to the
London Stock Exchange’s Daily Official List for the five business days before the purchase is made, and (ii) the higher of the price of the last
independent trade and the highest current independent purchase bid on the trading venue where the purchase was carried out.
Save to the extent purchased pursuant to the regulations concerning treasury shares any Ordinary Shares purchased in this way will be cancelled
and the number of shares in issue will be accordingly reduced. The Company may hold in treasury any of its own Ordinary Shares that it
purchases pursuant to the relevant regulations and the authority conferred by this resolution. This would give the Company the ability to re-issue
treasury shares quickly and cost effectively and would provide the Company with greater flexibility in the management of its capital base. As
at the Latest Practicable Date, options to subscribe for a total of 3,315,258 Ordinary Shares were outstanding under the Company’s employee
share schemes representing 5 per cent. of the issued share capital of the Company (excluding treasury shares) at that date and 3 per cent. of the
issued share capital of the Company (excluding treasury shares) if the authority sought by resolution 5 were to be exercised in full."
Did the company pass resolutions to instigate a buyback scheme for shares?
Maybe institutions see value here at 30p
Big trades gone through today.
Cheers.
Bit of a double whammy update and mortgage withdrawals because nobody has a clue what the BOE or Kerching are doing least of all themselves
The agm statement went down like a lead baloon . Lets hope we get some of that cash back
First time buyer purchases vs remortgage transactions down in H1, you can call that market condition's or red flag. Revenue guidance later this year will be interesting. Let's see how quick they can grow revenue from the additional services they have developed. Are they diversifying revenue? I see hints of it.
whether they 'moved' to remortgages or it is just easier to get this business it is irrelevant, this is the business they are getting. To get to break even the gross profit needs to almost double from 2021 levels. The AGM statement states that GP is similar to last year - so revenues up by a decent % but this hasn't improved the bottom line. IMHO that's a red flag.
On a positive the current valuation is low so can't see much downside.
They didn't move to remortgage per se, there are a lot of mortgages coming up for renewal and they are seeing a lot of flow from those transactions vs new mortgages.
well they don't have £20m cash anymore! The move to remortgaging makes some sense but clearly it's lower margin, therefore, it looks like this will remain loss making for the next few years.
All looks very hunky dori. Just need the idiot market to catch up!
Good signs of progress. If they don't have any more expenditure this year, then the results are actually quite impressive if they can keep going at this rate. What exactly is a small company going to do with 20 million cash. Return it to shareholders?
I suppose it makes more sense than ULS tech. Smoove. A combination of Smooth Move. Just nobody knows who they are and no history of anything. Not to be confused with debunked SIAM investment trust. I wonder who got paid and how much to come up with a name which is a cross between a lolly and a well known fruit drink......
So there is a new ticker. That's why the ULS page looks odd.
Onwards and upwards!