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Firstly, Michael remains as CEO of the Group, however on LinkedIn in he has welcomed Simon McCalla as the new CEO of the Online Division and also member of the Executive Committee. Seems to bring good experience from Nominet UK. Should free Michael up to focus on strategy.
An anodyne RNS headline today, confirming the 9 months' results will be on 13th November - except that there's also the extremely reassuring comment that:
"The Directors remain confident that the Company continues to trade at least in line with current market expectations for the full year"
Note the "at least" in line with expectations.
So once again CNIC has confirmed it's trading well. Perhaps this time - on a P/E of around 7 - the market will respond:
Https://uk.advfn.com/stock-market/london/team-internet-TIG/share-news/Team-Internet-Group-PLC-Name-Change-Notice-of-Re/92244176
There must be a substantial seller(s) overwhelming the buyback and Slater buying more. Hard to tell who it is from the major holdings list though. Almost 40% is owned by directors, who you assume wouldn't sell out of a clearly undervalued company, unless perhaps in a distressed situation personally? Plus Slater's 11% makes it 50% in sticky hands. Maybe that high number just makes it relatively illiquid, so a few people selling sub-1% stakes in a tricky market is enough to drive it down?
I'm hoping that 120 is strong support, let's see.
Good luck all.
Uptrend from July has been broken and 120 minor support under threat. I was expecting a re rating from now until new year. How wrong was that.
Buybacks here are probably doing some pretty heavy lifting on stabilising the share price. On low volume days the repurchases look to be accounting for >25% of total trades.
Good to see Slater buying more and going above 11% now with 30.2m shares:
https://uk.advfn.com/stock-market/london/centralnic-TIG/share-news/CentralNic-Group-PLC-Notification-of-Major-Holding/92132383
I don't know about 2 steps forward and 1 step back for the SP here, it's more like 2 forward and 1.95 back :-)
It's good to see a fairly consistent rise but someone out there is determined it isn't going to happen too quickly.
Not a problem for me. Waiting I can do.
Comment from Mark Watson-Williams on Master Investor last night:
"CentralNic Group (LON:TiG) – edging gently ahead now that it has climbed above the 130p level. Now at 134.90p and destined to ascend above the 150p level very soon."
Https://www.businesswire.com/news/home/20230907840010/en/Titan-Partners-with-Team-Internet-Formerly-CentralNic-to-Offer-Business-Email
"Titan Partners with Team Internet (Formerly CentralNic) to Offer Business Email
September 12, 2023
BOSTON--(BUSINESS WIRE)--
Titan, a leading business email service provider, announced a strategic partnership with the Team Internet Group (TIG) formerly CentralNic, a leading global internet solutions company. Team Internet’s dual focus includes domain name management (Online Presence) and high-growth digital advertising (Online Marketing). Initially, Titan's business email will be available through Team Internet’s flagship retail brand, OnlyDomains, which helps individuals, MSMEs, and SMEs build an online presence. The alliance will accelerate digital transformation across North America, Europe, Asia, Australia, and New Zealand.
The core offering of this partnership is a premium business email trial with every domain at OnlyDomains. OnlyDomains customers with domain names can now strengthen their online presence with a professional-looking email address. This service is available for newly-registered and existing domain names.
Titan’s business email requires no setup and offers a user-friendly interface and native apps. Titan provides up to 50GB storage per user, and Calendar and Contacts apps. Read Receipts and Email Templates help users reach their customers more easily. Priority Inbox, Follow-up Reminders, and Send Later boost productivity.
"Through our partnership with Team Internet, we aim to help more entrepreneurs solidify their online presence. Offering our premium business email free with every domain simplifies the journey for businesses," said Bhavin Turakhia, CEO of Titan. "We're eager to empower more businesses through Team Internet."
Pairing Titan with domains increases NPS and customer satisfaction, and exposes customers to the provider's branding within Titan for over 150 hours every year."
In case you missed our webinar with Team Internet/CentralNic (TIG), the recording can be found on our YouTube channel: https://www.youtube.com/watch?v=h8neJeZd-iE
Https://citywire.com/investment-trust-insider/news/expert-view-currys-yougov-ncc-safestore-centralnic-group/a2425358?re=112740&refea=218441
"Berenberg: Team Internet is scaling up in growing markets
IT services company Team Internet Group (TIG), formerly known as CentralNic, is well placed to take market share in a structurally growing sector, says Berenberg.
Analyst Robert Chantry retained his ‘buy’ recommendation and target price of 250p on the stock, which was trading at 125p on Friday.
The company’s capital markets day saw management present its core strategy but Chantry said ‘the focus was the divisional heads’ presentations on the four business units’.
‘The capital markets day coincided with CentralNic’s rebranding to ‘Team Internet’, reflecting how the company’s offering encompasses search, comparison and performance, as well as its core online division,’ said Chantry.
‘We walked away from the capital markets day with our thesis reinforced: Team Internet is well placed in a structurally growing market and is continuing to take meaningful share.’
Long-term the business benefits from ‘longstanding partnerships with key players such as Amazon and Google’.
‘While these relationships have developed over several years, the company envisions that, as it scales further, it will become more diversified, global and vertically integrated, supporting continued growth,’ said Chantry."
Thought the team did a pretty good job there.
Would be really useful (having given a bit more clarity about the different business sections) to provide more granular numbers for each division in the quarterly updates.
Great, thanks Edgeofvalue
Here we go people....
https://www.lsegissuerservices.com/spark/CentralNicGroup/events/07d90b03-4ccf-4bd5-bf10-c69d4498159c
Any idea if the presentation(s) from CMD today are going to be made available?
Good to see you here ggrantsu. Perhaps you could take a trip over to your other home at NFG and exude some positivity there too.
I can't work out for the life of me why both CNIC/TIG and NFG aren't at least 50% higher at the moment.
Apparently the CMD today was about as sharp and high quality as there has been at the LSE. Management were said to have communicated beautifully and finally given the kind of detail on each sub-segment that was lacking before...
Very very chuffed for the management team; Michael seems like an uber nice guy who just adores running the company - apparently today he was just grinning like a Cheshire cat with proudness.
Really is a great little story here and I'm not only wishing the team the best, but holding onto my significant holding. You can never be anecdotal in terms of conclusions but the sense I got was that the excitement of the management team goes a long way to showing that things are good here...go on TIG!
Could got a better name. Internet AI or something like that.
Anything AI will be all the buzz soon. Those companies that don’t embrace the technology will find themselves in the bin with the fax machines!
Usual caveats
Trek
New pages for CentralNic, LSE not picking up today's RNS due to change of ticker to TIG
Rebrand:
https://www.londonstockexchange.com/news-article/TIG/centralnic-group-rebrands-as-team-internet-group/16108453
General Meeting on 28 September:
https://www.londonstockexchange.com/news-article/TIG/notice-of-general-meeting/16108554
Special Resolutions:
1. THAT, the Company's name be changed from 'CentralNic Group Plc' to 'Team Internet Group Plc' with immediate effect.
2. THAT, the Company's share premium account of USD 98,529,000 be cancelled and is hereby cancelled.
And confirmation of the ticker change in place today:
https://www.londonstockexchange.com/news-article/TIG/update-on-ticker-change/16109492
All previous info on these pages up to November 2015 relates to an old company The Innovation Group.
CentralNic to rebrand as Team Internet Group
Mon, 04th Sep 2023 09:42Sharecast News
Innovation Group rebrands software products Post Online Outsourcing provider Innovation Group has rebranded its suite of software products as 1 Insurer. http://www.postonline.co.uk/post/news/2434786/innovation-group-rebrands-software-products
Hi all, quite new to trading. Does this mean that the share price won't exceed 40p now? If we don't sell now, will we receive some kind of offer from them equivalent of cash at 40p per share?
I agree guys, much better to have the money in the bank, so I also sold this morning. Not much difference from the share price to the offer price, and would rather not have to wait a few months before I get it, also we were very unlikely to get any kind of counter offer to the 40p. I think they let this go on the cheap, cant complain as I got in at 22p and have been here for three years. GL
Yes probably better playing it safe actually as your money is in the bank ,I have a stop on this to protect profits so not too fussed but it may have run its course I nearly cashed in too but greed takes over this is an old favourite of mine,but I usually take profits nowadays.GL
I decided to play safe for the sake of a couple of pence on the current sp and cash in. All the very best to you. I guess if the Carlyle take over goes ahead which looks likely based on the press reports (Henderson's are reported to be in favour of the deal) TIG will go private. But what a brilliant last 6 years they've had. A real rags to riches story after near decimation by RT. As I say, all the best to you and I'll keep watching!