Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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.
So as the RNSsays only the 235k trade was the buyback. Must be institutions piling in to account for the other large trades.
shares bought already so the company haven't wasted time. It is possible an institution bought the 235k of shares this morning. What effect can we now expect going forward now that the buyback looks complete?
so about 22.5% of the buyback completed. Unless an Institution has decided to dive in for some.
and already an impact on the SP. The notional bid has stayed low but with £10m to be bought back, a supportive institution and usualy very few trades the ask will certainly move up from here.
in a tightly held share. The ask has moved to 110p now and as we know Elephants don't gallop so we can only hope to see a slow climb from here. The company is determined to narrow the discount and with a decent divi accompanying ZEG I am very hopeful with this share.
One of , if not THE, share(s) for 2020. The spread while annoying is far closer than appears. The NAV and the SP are just too distant and the board have made it a priority to narrow it. Small fall this week in the SP but the Euro has also weakened since the election engineered rise in sterling. Small divi for holders on 3rd feb.I am building a position in this one in the next year.
What were yesterday's trades about?
The Zegona presentation from our recent London company seminar can be found in our members area here: hTTps://sharesoc.ning.com/xn/detail/6389471:Comment:53384
There is also a seminar report.
To access the presentation, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hTTps://www.sharesoc.org/membership/
Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the presentation (and presentations on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hTTps://www.sharesoc.org/contact-us/
Zegona present at our London growth company seminar on Wednesday. If anyone is interested, you can book your place here: https://www.sharesoc.org/events/sharesoc-growth-company-seminar-in-london-10-july-2019/
Zegona present at our London growth company seminar on the 10th July. If anyone is interested, you can book your place here: hTTps://www.sharesoc.org/events/sharesoc-growth-company-seminar-in-london-10-july-2019/
Not sure if anyone is still on here. But I'm slightly surprised by the recent share price drift at ZEG, which by my estimate has opened up a c. 20% discount to theoretical SOTP. Following the tender offer ZEG has a market cap of GBP163.5m at the current share price of 129.5p. But its minority 15% stake in Euskaltel is worth c. GBP173m (137p per share) at current share prices / FX. This excludes the up to EUR 15m deferred payment due from Euskaltel worth another 10p per share. And the c. EUR 20m sitting on ZEG's B/S (another 14p per share). Taken together and you have a rough total value of 160p per share. So the current share price implies a 20% discount. I believe this represents an interesting entry point for anyone who believes that the ZEG mgmt team can "do a Melrose" in the coming years. I've used the recent share price softness to top-up again post-tender...
http://www.zegona.com/disclaimer-to.aspx The title is a bit misleading, full details on the website and it gives a detailed brakedown. Basically share holders are given the option to sell 36% of their holding for at least £2 a share.
Zegona Communications confirmed it would be returning as much as £140m to shareholders in the form of a tender offer at a minimum price of £2 per share - what does this mean in layman terms ?
offer £2 a share at least today rns.
Very slow rerate but will get there
I'm still in.
Director buys over past two days have totalled £185k.
coot - £160.0m x 50% / 193million shares in issue = 41p per share.....
OK thanks - thought you may have had a better understanding of the dividend situation. I guess that if Zegona now owns 15% of Euskaltel it still owns part of Telecable's debt too.
usually with these sorts of rnss I get a fast 40% rise, it did not happen today though and I was surprised. I may have misunderstood the debt situation, I have no further information and have a bit of a flu coming on. No idea about your calculation. I do not give advice and this bb is not for advice.
*Show me the errors.....lol
Actually in trying to answer my own question - if it were a Special dividend (cash return) at say a payout of 50% €186.5m cash = £160.0m x 50% / 193million shares in issue = 0.41p per share Show me in errors in my thinking!! What do you think?
Would you know if this means they may be a Special dividend or does it just mean they can continue with their normal dividend? Significant capital returns for Zegona shareholders: · The transaction will generate significant up-front cash proceeds and we intend to return excess cash to shareholders quickly and tax efficiently · Transaction allows Zegona to maintain its dividend policy (5p per share for 2017)
You lost...
Zegona sells Telecable for total value of Up to €701m1,2 London, England, 16th May 2017 - Zegona Communications PLC announces the sale of Telecable, its Spanish Cable business, to Euskaltel Attractive valuation for Telecable: · Euskaltel is acquiring Telecable for a total value of up to €701m1,2, comprising an Enterprise Value of €686m and up to €15m deferred payment · The Enterprise Value consideration includes €186.5m cash3 and 26.8m shares in Euskaltel (15% ownership) · Transaction values Telecable at 10.8x EBITDA and 17.7x Cash Flow4 Substantial value creation for Zegona shareholders: · Transaction values Telecable at an implied Zegona share price of £1.995 · 64% premium to Zegona's undisturbed share price6 and 41% premium to Zegona's current share price7 · 42% total shareholder return versus initial investment by Zegona shareholders8 Transaction structure provides opportunity for additional shareholder value: · The combined business creates the leading integrated telecommunications operator in the North of Spain, with enhanced scale and exceptional cash generation (€711m Revenues, €346m EBITDA, €224m Cash Flow9) · Substantial synergies, valued by Euskaltel at €245m, equivalent to €1.37 per share in the combined business · Zegona will have significant influence in Euskaltel through its Board representation10 and a newly created Strategy Committee · Opportunity to close shareholder value gap - Euskaltel trades at a discount to many of its industry peers11 Significant capital returns for Zegona shareholders: · The transaction will generate significant up-front cash proceeds and we intend to return excess cash to shareholders quickly and tax efficiently · Transaction allows Zegona to maintain its dividend policy (5p per share for 2017) · Zegona's ownership in Euskaltel is subject to customary lock-up provisions, but Zegona has the ability to return shares back to its shareholders in specie at any time Eamonn O'Hare, Zegona's Chairman and CEO commented; "When we acquired Telecable in 2015, we identified the opportunity for substantial value creation through the combination of the 3 independent Northern Spanish Cablecos. This transaction turns our vision into reality, generates very attractive returns for our shareholders and provides the opportunity for significant additional value gain. We look forward to working closely with the Euskaltel Board and senior management team to help close the company's current valuation gap and assist in defining the next exciting chapter of Euskaltel's development. We continue to see many attractive opportunities across the broader European TMT landscape and completing this transaction will allow us to bring increased focus