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Tony weaver of mxcp steps down from Redcentric. These guys shuffle the pack when they need to concentrate efforts elsewhere. Is tony weaver heading towards CSI?
I wonder where he is off to now?
30 September 2015 Redcentric plc ("Redcentric" or the "Company") Pre-close Trading Update and Board Change Redcentric plc (AIM:RCN), a leading UK IT managed services provider, announces a pre-close trading update covering the six months to 30 September 2015. The Group expects to announce its interim results on 9 November 2015. The company also announces that Fraser Fisher, currently Chief Operating Officer, is to be appointed Chief Executive Officer of the Company in succession to Tony Weaver, who remains on the Board as a non-executive Director. Trading highlights · Trading in line with market expectations · Continued strong organic growth in recurring revenues · New business momentum maintained, with some notable £1m plus contract wins · Calyx integration on plan, full contribution in second half · Strong cash generation The strong start to trading noted earlier in the year has continued through the first half, with some significant new contracts augmenting the high levels of recurring revenues, which are in excess of 80% of total revenues. During the first half several significant contracts were won, including five £1m plus contracts with both Government and commercial clients. The integration of Calyx Managed Services, acquired in April 2015, has progressed to plan. The financial benefits of the acquisition will be felt in full in the second half of the year. Cash generation remains strong, and the company has substantial headroom in its recently renewed banking facilities. Board changes Fraser Fisher, the Chief Operating Officer of the Company, will become the Chief Executive Officer of the Company on publication of the Company's interim results on 9 November 2015, in succession to Tony Weaver, who will remain on the Board as a non-executive Director of the Company. Chris Cole, Chairman of Redcentric commented: "Redcentric is trading strongly. The high level of recurring revenue, increasing traction in the £1m plus contract market and the successful integration of Calyx all combine to give the Board confidence in the company's prospects. I will be delighted to welcome Fraser as our new CEO. Fraser has a wealth of operational experience and has already made a significant contribution to the business. I am pleased that Tony Weaver will remain on the Board as a non-executive director, providing business continuity as well as maintaining our important links with MXC Capital who have been supporting the development of Redcentric's successful position in the AIM technology sector".
All ready to make some real money now!!! our time is here.
Looks like it's game on now!!! Enjoy the chance of getting in at these prices. News is going to blow this out the water.
How many companies out there with only 71.2 mill shares in issue have £22 mill to spend ? If there are others let me know please. But money is not everything. It depends on who is behind the company. CSI have MXCP advising them and Kestrel and Spark supporting them. It will be a TECH investment not some jam tomorrow oiler. That's why I invested in CTP at .006p That's why I am invested here. Multibag from these levels is as good as a given.
Well the company are not hanging about, they have already updated the web site with the new holdings for Kestrel. They now hold a whopping 15'235'000 shares in CSI which is = to 21.4% This is not the sort of investment Kestrel would make without good reason. Mr Dobbie holds 14'676'053 which is = to 20.60% of the company. Mr Griffiths holds 8,769'378 which is = to 12.30% of the company. Spark Ventures hold 3'492'065 which is = to 4.90% of the company. Montoya Inv hold 2'360'000 which is = to 3.30% of the company. These figures do not include HL and HL asset mngmnt or Barclays private Banking or Jarvis Inv or T D Direct or Investec or Walker Crips or Commerz Real Inv or Marathon asst mngt (who are still listed as holding so are included for now) This combined group some of which are PI nominee acc holdings and some which are insti holdings below the 3% level comes to a total of 13'213'743 which is = to 18.60% of the company. So as you can see over 81% of the company is tightly held. Just FYI this will blow in a big way on news...the very low free float will ensure it goes up and up and up!! £21.5 mill ++ for a deal? I think it's going to multibag on news!
It should be a very interesting week indeed. MXCP have a huge mandate on their hands with CSI. Once the size of the deal has been released to market this will fly.
In all honesty it does not matter now: The reason I say that is Kestrel have told us that under no circumstances will this fail to get a deal. They are now the largest holders and you do not hold that much stock and then buy more if a deal will not be done. I believe a deal has more or less been completed and it's a case of getting it out there. Every single complication that was present of late has been sorted and MXCP is also now clear to run at full speed. When kestrel and MXCP put there heads together you get a Redcentric type deal. The most important thing here is CSI have £21.5 and in eight weeks it will be £23 mill so a huge deal can be done now and we will still have a chunk of working capital for the acquisition to hit the ground running.
The entire point and the only point of investing in Micro-Caps that have no debt and hard cash and with lots of potential is to get IN before the action starts. You don't get a ten bagger by climbing on halfway through the journey. What you want is to be onboard before the journey begins. Just like at CSI or MXCP. Only this time the rocket on the Launchpad has about £22 million pounds to spend!! And ONLY 72 million shares in issue!! It is the Micro-Cap to beat them all. And it is about to start that journey. Why not come along for the ride it promises to be a very lucrative one for those who have a ticket. CTP multibagged from .006 to 3.5p and will continue to rise. This one promises to blow that one out of the water. CTP paid the mortgage off early this one will buy the holiday home in The Algarve
SHARES MAG Thu 24th Sept 20 MICRO CAPS SET TO FLY. Castle Street Investments. As Investment Guru Jim Slater father of award winning fund manager Mark Slater says, "Elephants don't gallop" Those seeking to turbo charge their portfolio can ill afford to overlook micro-caps with ten bagger potential. CSI is one such Micro-Cap
Check out latest edition of Shares mag under stocks that they think will 10 bag: what do they know? it's in black and white. Check it out!
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http://*********************/views/15300/zak-mir-s-bulletin-board-heroes-asiamet-resources-castle-street-investments-elektron-technology-range-resources-teathers-financial-victoria-oil-gas That's before any news is factored in: Kestrel have told us a deal will be done here otherwise why by 600k? on top of they hold?
CTP just announced a loss for the period. MXCP have no debt, major shareholdings in many comapnies and approx £25 mill in cash to reinvest All that stock you mention is tied down and held. The free float is actually very tight. Take a look at the share register.
Had this stock brought to my attention recently due to it's involvement with another listed company. The holdings company acquisition has been completed and it's now all systems go. Expecting rapid turnover of news on several fronts