Member Info for alan80

Small purchase by the Finance Director. I was hoping to see Lucas Critchley buy as unlike Smith he did not have options maturing this year.

Positive Interims, and healthy dividend increase. Two things to watch out for in the next couple of weeks - following last years interim there was some director buying, and then a buyback was announced. If we get these two again then it will add some momentum to the price.

The P/E ratio as things stand is going to drop to 8.2, so plenty of upside scope

It has broken back through the £4 mark with the results this morning. As already flagged up record profits. A strong increase in dividend and more to come apparently. Nothing on further buybacks, so perhaps a pointer towards a little caution. Their conversion on bids was only 41%. Perhaps understandable as they sensibly are not pricing too low, and as we know there is always the possibility of picking up work following competitor failure to operate at too low a margin. It will be interesting to see how the share price goes.

It has finally hit £4. The current share buyback programme looks scheduled to conclude just before the results are announced, and then given they already have permission for further buybacks a further one may be announced with the results.

£4 likely to be hit tomorrow for the first time since 2018

It looks like Mears are now having to buy shares from the Market Makers rather than in the OTC market, so there might be more upward movement on the share price.

Mears are holding a general meeting early next month just to get authorisation to buy back up to a further 10% of the shares. They could have waited until the AGM in June to get the mandate, but they are doing it now. The only explanation is they are going to go for another buy back immediately the latest one is concluded. Currently they have spent around 15% of the £18 million in the latest buy back.

It looks like Mears are buying back shares over the counter from a large seller, so this is therefore having a negligible impact on the share price.

Another share buyback announced costing up to £18 million

Yes. The share price will likely move well above £4 but might be held back from perhaps all time highs by the continuing unknowns regarding the management contract. However, another share buyback programme can be envisaged with the final results.

Must be Al180 :-))))))) Have a Good Christmas Bruv!

Could this finally be lift off???? Happy Christmas all holders.

As you say probably a done deal. I will vote against as the price severely undervalues and the private investor is again being shafted

And the Finance Chief has joined in as well. He has a good holding, and it is a strong indicator that whatever the outcome with the government he considers there is plenty of value growth ahead for the shares.

Not surprised by this profit upgrade announcement today. If the share price remains where it is I can see another share buyback programme immediately after the current one finishes.

It gives Mears the opportunity to buy back even more shares, and given the break cannot occur until 2026 at the earliest, that means there is the likelihood of further share buybacks, so even if the contract is renegotiated or even lost completely, as long as the core business remains sound then the earnings from that business will be distributed over far fewer shares.

It seems the reason for the price drop today is due to an FT article that refers to the government looking to investigate whether they can trigger break clauses in asylum contracts with Mears and others. The contracts provide for a possible break in 2026. Given that on a number of occasions Mears have already raised the expectation that work levels under their contract would reduce, this is not as negative as might appear. With the price dropping it enables Mears to buy back shares more cheaply, although they are now into the last quarter of their £20 million.

Another £20 million buyback programme launched.

The CFO has been buying again. Very positive signal.