Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Any idea what's gong on if anything here ? There have been several days of of sells only, even if related to the market set back I would have expected a few buys to be scattered about.
Thanks 13h, good post, I to was pondering,good to have clarity from the CEO. Best wishes for Christmas to all and may our New Year choices be as sound as TRCS.
John McArthur answer to Paul Scott re: Australian disposal below. Seems to answer the critics pretty well imo: Tracsis (LON:TRCS) Share price: 497p (down 2.0% today) No. shares: 27.2m Market cap: £135.2m Disposal of non-core business - this announcement came out yesterday, and I pondered why Tracsis had decided to dispose of an Australian subsidiary which generated £0.25m in profit, for only £0.5m sales proceeds, most of which is deferred. I try to build good relationships with the CEOs of quality companies, so dropped John McArthur an email querying the logic for this disposal, which on the face of it doesn't appear to be a good deal. He replied in detail, and has given me permission to reproduce his email below, which explains the rationale for the disposal; Hi Paul As you know we are duty bound to insert into the RNS last year's financial numbers of the disposed entity but this does not paint the whole picture. To put some more meat on the bones: We originally came to own this business when we bought Sky High plc but it has always been deemed to carry significant risk by the Tracsis board given it is 10,000 miles away, dependent on a few individuals, has heavy WIP and slow paying debtors. Profitability has been very variable over recent years: - It has made a loss or broken even as often as it made a profit. If you took an average profit over the past few years then the multiple changes greatly - Also, Australian corporation tax at 30% needs factoring in. We perhaps should have quoted PAT numbers! - It’s true it made a profit last year but in years gone past it has been breakeven or loss making and had to be supported by the UK business. - We’ve never actually taken cash out of Australia which tells you a lot about the quality of profits and cash generation. This always spooked me being frank. When we offered the MD the chance to buy it from us he was happy to do so provided the price was right. We considered a lot of different deal structures and consulted external advisors in the UK and Australia. The structure we have arrived at is the best we feel we could have got - it guarantees a modest return over the next few years whilst eliminating all execution risk and management distraction. Obviously some shareholders will always think the value should/could have been higher but they will be unaware of the underlying trading wobbles and uncertainty in the past. Given I'm a big shareholder I'm very happy with the deal and as you know we're certainly not in business of giving away value! Had the price not been right we always had the option of keeping it on as a going concern. Hope this helps but a very valid question as couple of our institutions asked the same thing. Feel free to share the above with your readers. - See more at: hxxp://www.stockopedia.com/content/small-cap-value-report-23-dec-2015-inb-trcs-115608/#sthash.ofCODOa9.dpuf
Lots of buys over last few days. This sp has got to go up from tomorrow.
Good to see Questor today tipped Tracsis following the splendid results. Highlighted software contracts that are long term cash generative.an expectation that pre-tax profits will increase20% .A share worth buying they say,and I have to agree. The new acquisition of SEB and part investment in Citi Logik yet to feed into the bottom line. And the Divi is up by 25% to an eye watering 0.22% ! Yippee ! JJ
As expected, quality results from arguably aims finest company !! Cash now at ~£13m Dividend paying
Around 15000 shares bought in the past 24 hours and no sells. The share price hasn't budged!! Finals on the 4th Nov. The share price normally begins to rise the week before. We already know that they will be ahead of forecast.
This looks another good solid addition. Adding a profitable niche business with synergy,debt free and £1/2m in their bank. Paid £1.62m in cash,further £600k within 2 years and the issue of about 0.21% of TRCS shares which won't dilute our holdings. And I wondered why they were keeping their powder dry! And they still have more powder left. I would still like a pinch of it added to the div,greedy as I am. GLA. jj
This looks a fruitful link-up with their global framework agreement via 'a major FTSE 100 telecommunications business' I paraphrase 'the Directors believe Citi Logic has a highley novel technology platform that the will be complementary to Tracis offering strong cross sell and upsell opportunities to the group which will expand the market into larger projects of greater size and complexity'. Terms agreed,Tracsis will invest £1m via equity and debt for 29.4% in C L. With net cash of £12m I am curious why TRCS has not brought outright ,unless they are keeping their powder dry for further acquisitions or better still increase their miserly div yield so I can compound my holding. JJ
Why the large fall in the SP today ?
Trcs as one of great British businesses by iii http://www.iii.co.uk/gb-business/technology/tracsis
highlights of the update: "Due to strong trading across the Group full year results are now expected to be ahead of the previous year and market forecasts. The Board anticipates that Group revenue will be circa £25m (2014: £22.4m) with Adjusted Pre-tax Profit expected to be comfortably ahead of market expectations of £5.5m and also ahead of the previous year (2014: £5.0m). Year-end cash balances were in excess of £12m (2014: £8.9m), and the business remains debt free." brilliant cash level and debt free too
New highs registered! Best company on aim? Certainly one of the best!
USA potential roll out for products. Turnover and profits up. Strong market position. BUY BUY BUY
Nice update but doesnt look a bargain at this price
Good trading update but sp has fallen back.
I bought in today just after 8am and my 4.10 is a buy so think most after this will be buys
Thanks Herbie & Co. If it was down to MF it must have been a pretty persuasive tip release, but then this is an impressive company with a lot of potential for expansion. Having bought in at 355 in March I took the profit at 434 yesterday and will wait for the next dip to buy back in before the FY results, which I expect are due out in mid-Oct
Yep maybe motley fool link I assume they have wide readership/subscription so maybe explains the rise Will see if rise is sustanined but either way I think a good investment imho long term
Thanks Herbie, just seen your post. Still would like any info on driverless trains. JJ
Also Shan am unsure. Sort of half heard an item on BBC4 (I think it was ) the other day on driverless cars and trains. My thought was this must be in due course be of benefit to Tracsis with their technology. Not being technical in this area , would appreciate any comments. JJ
Just found out it was a tip on Motley Fool. So maybe a spike?
Yep unsure too Followed Trcs for few years now and invested in past There was a trading statement in June last year so maybe in anticipation of that? Will see what transpires but will say Trcs is one of aims finest companies so a safer investment than many others on aim
There was quite a bit of buying early this morning but apart from that I can't find any reason.
on this strangely silent BB as to why the sudden jump in sp on no news. OK, it was gradually knocked down to a 370 bid price a few days ago and is now back to where it should be. Is this just the mms having fun?