London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Last post: ripley94, 18 Aug 2023 11:25
Account has this paying out today .
Did not look at acc yesterday , payout is more then available to invest so maybe lucky timing .
Looks like I made 42% in cash terms , investment still in of yesterday 2053 against 2913 paid out .
Took a sale profit 14/11/2019 , leaving just 66% of investment in .
Last buy 8/4/22 given a few free ones 11/6/2020.
So only 16 month tie up of funds.
Off you go XPD, we wont miss you.
This is all to do with the CEO owner fall out earlier in the year. Pay back time! Get your own (company) back time!
Very quite BB this one my posts from April on same page .
Maybe a good thing as no rampers /derampers .
Maybe an indication of not much interest.
Shame I had no funds in September posted below in today's hindsight better then anything I did buy around time maybe.
Looks like might break even on April purchase .
Not sure I like idea of company's being taken back to private after listing .
Does it make mugs of private investors ?
Xpediator surges on takeover offer
Tue, 20th Dec 2022 09:11
(Sharecast News) - Freight management services group Xpediator surged on Tuesday after a consortium including largest shareholder Cogels - the investment vehicle of former chief executive Stephen Blyth - made an indicative proposal of 42p a share in cash to take the business private.
The consortium also includes funds managed by Baltcap, one of the largest private equity investors in the Baltic states, and Justas Versnickas, the managing director of, and 20% shareholder in, Delamode Baltics, a subsidiary of Xpediator.
"The board of Xpediator remains confident in the company's prospects as a standalone listed business. It is, however, evaluating the proposal together with its financial adviser, Zeus Capital Limited, to establish the attractiveness of the proposal to all of its stakeholders," it said.
Xpediator said that as matters stand, the board is minded to recommend the cash element of the proposal to shareholders, should a firm intention to make an offer be announced.
"The Xpediator board is continuing its discussions with the consortium and its advisers to progress the proposal," it added.
At 0925 GMT, the shares were up 26% at 38.04p.
Russ Mould, investment director at AJ Bell, said: "There is a growing risk that if the market isn't prepared to put a fair valuation on a company, then someone will come along and buy it. Increasingly, this someone is either the founder or a former director and that's exactly what is happening with transport group Xpediator.
"Since its IPO, Xpediator has made a few acquisitions and seen its pre-tax profit nearly double from £2.4m to £4.3m.
"The company would probably argue its operations have survived a pandemic and it is continuing to go places, yet the market seems to have been put off by its status as a very low margin business in an inflationary environment - qualities which many investors do not like at present."
Dartron,
I fully agree the results were not what was hoped for too many legacy issues still draining the profit pot.
''Nothing here for investors, its not run to make shareholders money.''
I think the majority of top shareholders incl Steven would disagree with the above statement they are the ones who are able to pull the ropes behind the sails (without their support/approvals) they would not have been able to stir the ship and make the headway changes already in place and without the new and old management teams returning to the board in place.
Started: Stuartrm, 5 Jun 2023 16:06
Last post: Stuartrm, 5 Jun 2023 16:06
The last paragraph of my previous message was truncated when I clicked post message. It read as follows:
When shares can be taken from the holder and the holder is effectively powerless to do anything about it, is it any wonder that private investor holders now own considerably fewer shares than they used to?
Rant over.
Started: Stuartrm, 5 Jun 2023 16:03
Last post: Stuartrm, 5 Jun 2023 16:03
Following on from KAPE and Metal Tiger, I have just received the following from Barclays Smart Investor
"FOR INFORMATION ONLY
Scheme of Arrangement Notification
Xpediator PLC has announced a Scheme of Arrangement, subject to shareholder approval at the company AGM on 7 June 2023
It is intended that the London Stock Exchange will be requested to cancel trading in Xpediator Shares on AIM shortly after the effective date for the scheme.
Proposed Terms
The proposed terms of the Scheme of Arrangement are:
44 pence in cash for each Xpediator Share. (DEFAULT) Comprised of 42 pence per share and a special dividend of 2 pence
OR
A Loan Note Alternative
What this means for you
Your Smart Investor accounts won’t be able to support the Loan Note Alternative as these are not listed on a UK stock exchange. We will accept the cash option on your behalf.
You can sell your holding of Xpediator shares at any point before cancellation from AIM. The last day of dealings in Xpediator Shares is expected to be the Business Day immediately prior to the Effective Date.
If you decide to sell your holding you will need to follow the normal online dealing process. Online transaction fees will apply. Alternatively, you can sell by calling us on 0800 279 3667 or if calling from outside the UK +44 141 352 3919. Telephone transaction fees will apply. Please note this action may impact your eligibility for future dividends or any special dividend the company may pay.
It is your responsibility to ensure you are aware of any tax implications. Please seek independent tax advice if you are unsure.
Further details on the Scheme of Arrangement can be found on Xpediator’s website https://xpediator.com/offer-for-xpediator-plc/
Important information
We will aim to update your account within five business days of receiving the proceeds. Overseas residents should consult their professional advisers as to whether they require any governmental or other consents or need to observe any other formalities to enable them to participate in the offer.
By Accepting the offer, you will be representing to us the local laws and regulatory requirements have been complied with, including the obtaining of any governmental, exchange control and another consents that may be required and the payment of any issue, transfer or other taxes or duties due in that jurisdiction.
The cash must be available in the relevant Investment Account, ISA or SIPP to take up any voluntary corporate actions. If you have an Investment Account, you may need to transfer cash from your Investment Saver or add funds using your debit card before you can take up a voluntary corporate action.
Please note that this does not constitute advice. If you are unsure of what option to take please contact your financial advisor."
When shares can be taken from the holder and the holder is effectively powerless to do anything about it, is it any wonder that private investor hold
Started: myepic, 25 May 2023 03:05
Last post: myepic, 25 May 2023 03:05
Well, I am going to risk displaying my ignorance here - can anyone explain to me in simple terms what option 1 -GBP 1.00 new nominal loan note means??
Exchange or tender offer of XPEDIATOR (ISIN GB00BF6P5V92)Dear client,The DLM BIDCO LIMITED offers the shareholders of the above-mentioned company an exchange or tender offer at the following conditions:•
Option 1: Exchange• Ratio: 1 previous share : GBP 1.00 new Nominal Note• Exchange in: Loan Notes (ISIN not yet known)• Period: not yet knownThe exchange offer is subjected to pro ration. If more shares are registered to the exchange than shares are provided from the company, the rest will paid in cash.•
Option 2: Cash• Price: GBP 0.42 per share• + Special Dividend of GBP 0.02• Period: not yet known
Started: Stuartrm, 16 May 2023 10:04
Last post: niklol, 20 May 2023 11:03
I received a secure message via HL
Received a secure message via Hargreaves Lansdown to vote online
Re the annoncement on 4 May 2023. It reads as follows:
"Hard copies of the Scheme Document and Forms of Proxy for the Court Meeting and General Meeting
are being posted to Xpediator Shareholders and, for information only, to holders of options or awards
under the Xpediator Share Plans."
Has anyone heard or received anything yet? I have not got anything via Smart Investor. My intention is to reject the offer and I wish to make sure that I do not miss the chance to vote.
Thanks
Started: Beatrice1428, 21 Apr 2023 10:59
Last post: Beatrice1428, 21 Apr 2023 10:59
HI ! on the investing site there was the 2022 balance sheet release date which dates back to 2 weeks ago...I don't see this publication
Started: daneth, 6 Apr 2023 23:22
Last post: gemrusty, 12 Apr 2023 23:02
Let's just hang onto our shares then.
daneth > agree 100 % spot-on short & sweet sorry
I have been a shareholder of this lot for 5 years. I have also written several times to ask why over 80% of their revenue is booked as cost of sales and minute margins declared thereby cheating us with miniscule dividends. Ex directors trying to buy. Why is this company that piles on year after year increased revenue and has reached 70p over the past 5 years beig stlen from us a for a poxy 44p. I will be asking the useless FSA to loo into this lot (they wont) so if you are angry at this theft let form a group. This should be minimum 60p and probably loser to £1.
Bent bent bet deal. BTW my avg is 35p so I wont lose but didnt buy at initially 50p in a company that has grown year on year for 7 years to open their legs for 44P!!!
Started: daneth, 6 Apr 2023 23:30
Last post: daneth, 6 Apr 2023 23:30
the clues are all there in this "news" headline
I could with support buy this company show much more profit as it stands right now. Pay proper divis and if wanted sell for at least a nicker
Started: daneth, 6 Apr 2023 23:26
Last post: daneth, 6 Apr 2023 23:26
What a load of crap reffering to the stock price from a year and more ago!!!! they are taking us for fools
· Under the terms of the Offer, each Scheme Shareholder will be entitled to receive 44 pence for each Scheme Share held (the "Cash Value"), comprising for each Scheme Share:
42 pence in cash (the "Cash Offer")
and
a special dividend of 2 pence (the "Special Dividend")
· The Cash Value of 44 pence for each Scheme Share values the entire issued and to be issued ordinary share capital of Xpediator at approximately £62,342,907, and represents a premium of approximately:
- 45.5 per cent. to the Closing Price of 30.3 pence per Xpediator Share on 19 December 2022 (being the last Business Day before the date of the commencement of the Offer Period);
- 18.9 per cent. to the Closing Price of 37.0 pence per Xpediator Share on 5 April 2023 (being the last Business Day before the date of this Announcement); and
- 79.7 per cent. to the volume weighted average Closing Price of 24.5 pence per Xpediator Share for the three-month period ended 19 December 2022.
Do we know the voting date?
I will reject.
Losing big time here
I certainly won't be accepting that
53.8% are currently in favour of the offer, if I read the document correctly. I do not see that the rest of us need to accept the offer based on that, as we would still be a very sizeable minority.
Disappointing, and not in the best interests of many shareholders.
We'll just have to take the money and go away I suppose.
Started: Gohanito, 6 Apr 2023 09:45
Last post: Gohanito, 6 Apr 2023 09:45
Wow the directors actually recommended a 44p takeover proposal? That is shocking considering the performance of the company…
Started: Passer, 16 Mar 2023 20:20
Last post: Passer, 16 Mar 2023 20:20
How can this just go on and on?
Another extension!
Started: Stuartrm, 2 Feb 2023 08:40
Last post: Svend, 14 Feb 2023 23:52
JamesAB - Yes time is of the essence without it the current predator may succeed which may not necessarily be in the investor's favour having said that this window of opportunity for others to engage is perhaps our best hope at this stage.
Deadline extended yet again to 14th March!!!
JamesAB - Agree if XPD are letting themselves up for sale at least inviting the freight forwarding community in and participating in the bidding discussions with companies like DSV in Denmark might be an obvious initial invitee to level out the bidding. Can someone who knows the brokers for XPD, please engage in order for us SHAREHOLDERS at least get a BETTER/fair deal THAN WHAT HAS BEEN LABELLED SOFAR?
Would be nice if somebody else in the industry put in a competing bid which properly valued the company and its sound prospects.
Agreed Stuart.
Debt reduced, revenue and profit improving, dividend sound. What's not to like.
Management seem to have got a hold on the situation and are looking forward with some confidence.
Any offer below 50p wouldn't be welcome or reasonable surely.
Started: daneth, 20 Dec 2022 09:40
Last post: Svend, 21 Dec 2022 23:27
JamesAB spoton 100%
& Agreed
Agreed, this is a derisory opportunistic offer which undervalues the company and should be rejected.
My sentiments exactly. I assume well get a vote on this, if it ever happens of course.
This is a derisory offer. This company had grown year on year and its share price a few years ago topped 70p.
The fact that 2 of the major shareholders are trying to buy all the shares and own the company at 42p stinks
Started: MORWENATRELAWNE, 4 Oct 2022 11:31
Last post: MORWENATRELAWNE, 4 Oct 2022 11:31
unusually large buys going through this morning.
Started: MORWENATRELAWNE, 27 Sep 2022 19:34
Last post: CJ66, 29 Sep 2022 21:36
I'm afraid I agree Dartron - it has market benefits but looks like poor management in a company again....to my mind it just smells like my dog after a roll on the ground in something dubious!
The share price has been dropping since the June 2021. So in the entire year you have followed this, things have got worse. The price has declined as the business has failed to perform, or generate decent earnings.
The FY results in April was what did for me. Revenue of 296M. Profit after tax for the year 1.8M. Poor.
Now out of the 1.8M, 1.4M of that profit was not attributable to shareholders. In other words the company is set up that shareholders actually only have a small slice of the profits, £400k in April. What a joke.
Lets see how its gone this HY...
Revenue 189M, Profit -1.3M. That loss is entirely attributable to the share holders. (there is a larger one mentioned for the non controlling interests, of -2.4M).
Accounts are hard to read here, due to coorporate structure and sub division of business units. Cant be bothered to see what has gone wrong in the business, but I do think the issues are purely financial and not due to the war.
Just looked at the investors chronicle write up, which says basically uk warehouse division loss making, lots of one off costs, impairment charges (Write downs of valuations), Net debt risen sharply. Recommendation is SELL as it could fall further. Its not worth buying as it performs so poor. The accounts are complicated, and I wouldn't put it past the clever money men to stitch shareholders up somehow soon.
Its a dog.
One wonders if the directors and the markets, though optimistic about the business progress and expansion, are concerned about any nasty developments in Eastern Europe caused by Putin, and the market senses this, hence the steady sp decline since the Ukraine issue began. I have been following this company for over a year now and personally do not see it as a dog.
Now we can see why those Directors designed those months ago. The writing was on the wall.
Crazy SP drop IMO.
Dartron like your chart hope your hand is ok ;-) > I expect a 'bounce' here soon if 28/32p holds as resistance the 'gaps' have been filled. The interim CEO hinted the start of the new year was ahead with new business especially in Polen 2 years ahead of their plans. The overall markets are lousy the worst April close since 2020 as the headwinds play out (Rising inflation/interest rates and the war) hope for SP support soon and some sideways Price Action building a base soon going into the 2nd half of the year which is their peak earnings season.
There seems to be a knife stuck in my hand. While I was invested here, and did top up after results, it would have been an ideal short set up. Looking at the chart, a head and shoulders formed through out 2022, with 40p being the end of the neck line. Worse still, the 40p neck line corresponded to 2 previous 'gap ups' - one in Feb 2021 and one in Aug 2019. Anyone who spotted this set up, could have gone short from 40p with relative peace of mind after the disappointing results, reduced dividend and war.
Possible support around 33p, but if not then 26p should do it.
I dumped mine, rather put in in O&G stocks. My biggest loser this year. Easier places to make it up though.
https://www.tradingview.com/x/SWHjS4QO/
Started: Gohanito, 5 Apr 2022 15:36
Last post: Dartron, 7 Apr 2022 12:07
The Warehouse division also could have performed better, I reckon it was down about 1M before tax.
I have no worries about the exceptional items, as they are a one off. The Southampton warehouse is now 100% occupied, so will add to revenue next year. Would have liked to hear more about what can be done about 'Beckton' warehouse. If it is not performing well due to high street fashion, can they change the operations?
Either way, with a 1 year outlook, great time to be buying.
Gohanito - I agree the bottom line SP has suffered due to the exceptional charge of £ 2.6 m resulting from the delay moving into their prime warehouse in Southampton. The adjusted EPS was 3.68 (compared with 3.84 in 2020) plus the Dividend got a (temporarily) haircut to 1.1 (1.5 in 2020) with the potential for a special Dividend in the 2nd half of the year.
I went through the financials and although they are not bad i don't understand how cash generated from operations was so low this year compared to last year on what was a pretty good year it appears. This is the big puzzle and i think this is why the SP is tanking.
Last post: Bluechiplet, 5 Apr 2022 09:43
Thanks Dartron for the informed analysis. Helpful.
Thanks, Dartron, I agree they are somewhat shielded from the inflation risks if anything the increase in freight costs as a result of inflation will add to their bottom line with increased turnover and thus more revenue. The one-off costs for the new Southampton warehouse were probably the only big distractions
The adjusted earnings per shares are taken before exceptional items, and during the year the company encountered 2.6M of exceptional items (note 27):
During the year, the Group incurred non-recurring costs totalling £2,610,000 (2020 - £1,377,000), which relates primarily to costs associated with the delay in relocating the warehouse of Delamode International Logistics Limited in Southampton.
So again shows that the basic earning per share is quite misleading as includes the exceptional items.
I prefer profit before tax as companies often try to maximise losses like amortisation, depreciation ect, to reduce tax bills.
Adjusted profit before tax of £9.1m, up 25% (2020: £7.2m) - Thats the one to use as a guidance IMO.
So you could say XPD share price is now 5x earnings...
The profit before tax was higher, but there was more tax paid than 2021, so that's part of it - the profit after tax was lower this year than 2021.
£1,877 vs £3,060
Next, part of that profit, was not attributable to the parent company. This is because there are minority owners in the subsidiary's (See table 15). For example 20% of Delamode Baltics UAB is not owned by the parent company.
I see some other comments about accounting from clearly mis-informed posters, I would ignore this. These accounts are audited and the revenue / profit fits entirely within the business model of low margin freight forwarding / warehousing.
If you were expecting something else, perhaps familiarise yourself with business model of the company -
For all businesses in 2022, it will be essential to manage inflationary costs resulting primarily from increased energy prices. To reiterate, as an asset light operator, Xpediator is in an advantageous position versus many as we source transport for freight forwarding as required from multiple external hauliers who carry the risk and collectively ensure the needs of the customers are met. Increased costs of transportation are largely borne by the haulier and customer such that we are relatively protected.
In other words, this is a low margin business, as these guys do not do the actual work.
Please correct me if I have any of this wrong.
Bought more today.
Im sure the directors are nicking money from this company’s pathetic profits on revenue and ridiculous cost of sales numbers
Started: daneth, 4 Apr 2022 10:03
Last post: daneth, 4 Apr 2022 10:03
I can never understand why with such large revenues this company declared such low profits. I bet once again the cost of sales are declared as a huge percentage of costs. There is either something strange about this or they are not running efficiently.
Started: Dartron, 25 Mar 2022 18:07
Last post: Dartron, 25 Mar 2022 18:07
Although this doesn't sound great, I think this might not be anything to worry about...
Seems strange that the founder would resign his position as deputy chairman, but looking at his history Stephen has been involved with many companies - and still is. He has resigned from many for what ever reason. I believe he was CEO at one time. Reading the Investors chronical Feb 2021 Alpha report, it does speak of him (a chartered accountant) resigning as CEO for health reasons.
The key thing here is that he owns** +25% of the shares in XPD through an investment company called Cogels Investments limited. Reading the RNS, he will be appointing a replacement NED to the board. He basically still owns a huge controlling interest in the company, and has not sold any shares.
**Think the Alpha report may be out of date regarding size of holding, it looks like 56% to me.
Mark Whiting doesn't come up as holding a significant amount of shares, but it is interesting that both people have association with the same other companies - i.e. NED at smiths news. He also appears to have recently founded a non related business.
Could just be the a clean time to exit at the end of the tax year.
They could have explained it better, but hey ho. Results look great, business looks sturdy. Management team look very strong. In fact, I am building a position here at these low prices. I expect we would have seen heavy selling if there was an issue here, rather than resignations. Interesting the CEO who resigned (Rob Ross) has not updated his Linked in profile.
I hope we get a good update soon, with a new CEO appointed and director share buying. Results end of April, though trading update already released as upbeat.
Hi Agricore I was wrong expecting the SP to remain north above 50p and surprised to see the SP dropping and dipping below the 50p mark again having said that your last comment ref 2/3/4/ below basically said that they are paying customer's transport bills by paying the hauliers/suppliers upfront this is far from normal nor the industry standard and one in which if so would mean the business models has taken a turn and moved on from being a traditional freight forwarder relying on standard commission to becoming a so-called freight 'operator' and as such I am sure you are aware there is a big difference in being a 'broker' as opposed to becoming a principal i.e. charterer. Anyways as always hope ST projections shall come through eventually, all the best GLA
Hi Svend - this is mainly a temporary working capital nothing more.
1/ They have invested in new software (freight forwarding)
2/ They are paying suppliers ahead of payment terms e.g. paying in advance rather than paying 30 days from date of invoice.
3/ Their customers are being given more generous payment terms e.g. offering 60 days from date of invoice instead of 30.
4/ During 2022 they will revert back to 30 days terms for customers and suppliers.
Why? Because introducing new systems can be disruptive and have glitches so they are "smoothing" its introduction by offering customers and suppliers leeway to bear with them......
XPD are a smart business to do that in my opinion. From experience :)
GLA and great write up by ST tonight. We'll see this bounce further tomorrow. Back towards 80p.
Hi jackie1 - Very encouraging trading update depending on the interpretation of the following statement:
''Advanced payments to secure key supplier performance and additional cost associated with a new freight forwarding operating system in the UK means the Company expects to report a net debt position £4.9 million, as at 31 December 2021. Alongside the new operating system and implementing new processes, receivables have increased which will unwind in 2022 as these processes are embedded.'' what is your takeaway?
Xpediator (AIM: XPD), a leading provider of freight management services across the UK and Central and Eastern Europe, is pleased to confirm trading, for the 12 months to 31 December 2021, has continued strongly across all three divisions and expects to deliver revenues in excess of £300 million (2020: £221 million) and adjusted profit before tax well in excess of £8.5 million (2020: £7.2 million), in line with the upgraded guidance given in June 2021.
Revenue growth continued into the second half of 2021, with strong increases in Freight Forwarding revenues, the largest division of the Group, driven primarily by CEE markets, increased sea freight volumes and an uplift from UK customs clearance. Lithuania and Bulgaria are again expected to be significant contributors to the uplift in performance.
Pallex Romania has contributed to another positive trading period for the Logistics and Warehousing division. In addition, the recent partnership with e-Commerce fulfilment expert, Synergy Retail Support, has introduced new customers into the Braintree site (Essex) and other Xpediator warehouses.
Agricore well done perfect timing indeed doubt we shall the SP below 50p again anytime soon.
This morning's announcement on expansion tells you all you need to know about the forthcoming trading update. Glad I topped up here on the recent drop.
Stu - Agree with the silence from the company in terms of any fresh RNS is not helping the SP recover at all. I am still puzzled why XPD's board have not clarified the reason for their CEO's sudden departure. IF and it's a big IF the expected profits have been used or 'consumed' due to the CEO's management then the road to recovery could hit another roadblock on their way to further expansion. Would be nice to get a fresh trading update soon - Happy New Year All Svend
Svend, personally just had my eye on XPD for a while and was amazed at the drop from around 80p to 40p in 6 months - with all seemingly going well for the company too (Maybe us private investors are not getting the full story?) but seemed too good an opportunity to miss, only bought modestly and might have initially bought more except for being committed elsewhere currently...
Slight concern at a lack of RNS releases from XPD, nothing much that can be classified as 'good news' operationally since around early August, which may have in part led to Share Price slide, investors getting bored and moving elsewhere, whilst taking profits with them perhaps - and as an 'acquisitive' company nothing doing of late about expansion??
On the whole positive however, and confirmation of the expected £8.5m+ pre tax profit is eagerly awaited
Happy New Year All
Stu
StutGGTTH/M.. > From a tech point of view the SP has closed out the Gap perfectly on the daily charts going back to February 2021 as long as the current low @ 38p is not violated then it's good to go from here IMOO DYOR & Happy New Year
Started: Beatrice1428, 11 Nov 2021 13:08
Last post: Svend, 11 Nov 2021 20:20
B1428 > It sure has come back to life and with some strength!
is resurrected! what happened?
and in any case this title is worth more!
https://simplywall.st/stocks/gb/transportation/aim-xpd/xpediator-shares