Member Info for Aphrodite

Still loads of shares changing hands, in big trades. There's another million at least.

A reminder. FinnCap's last note dated 18th. June 2019. First half FY20 ends 30th. September 2019. We have been told by Mr. Dickinson that earnings will be stronger second half.

Castleton Technology (CTP): Corp
Prelims
Castleton’s prelims report performance in line with the trading update: EBITDA of £6.3m (vs £6.3mE) from revenue of £26.4m (vs £26.5mE), with operating cash conversion of 97%, and free cash flow of £4.8m. With the maiden dividend reaffirming the board’s confidence in cash flow and net debt approaching breakeven, the balance sheet retains capacity for acquisitions to complement 7.3% organic growth achieved in FY19, and expected to persist into FY20 and FY21. EBITDA margin expansion from 24% (FY19) to 26.5% (FY21) is expected to derive from continuing improvement in cross sales, and the integration of the now unified Software and Managed Services divisions. With operating fundamentals consistently positive and improving, we lift our target price to 140p (125p), representing a 16.4x EV/EBITDA multiple and 4.5% target free cash flow yield.

Not a great surprise. A load of shares been changing hands. Yet to see the other side of it.

Do more than housing in Australia apparently - from a recent job advertised in Sydney - "Our Australian team deliver software and services to clients in Australia and New Zealand, with a range of clients in the Community Housing, Agriculture, Manufacturing and Retail sectors."

Actually, we been dropping back rather than consolidating over most of the period. But I agree it's showing strength here of late with everything being picked up. And that's a lot of cash in one go. May get an RNS, one up one down, but I won't hold my breath.

You're right about consolidating at this price - at least £990k changed hands at 99p. You don't buy that much without somebody making enquiries, finding out about future prospects.

It's on the website now. https://www.castletonplc.com/news/castleton-chosen-as-national-housing-federations-preferred-supplier-for-housing-management-solutions/

Looks very much that at least they will be increasing customers across the smaller associations.

Well, they will have to go some in the second half to get FinnCaps £1.25, let alone senior line managers entitlement under the LTIP. But NHF's direct support must give them an edge over competitors.

Here's some very good news for Castleton, and not so good for competitors - Castleton announced today as National Housing Federation preferred supplier.

https://www.housing.org.uk/offers-and-benefits/services-and-benefits/castleton-technology-plc/?utm_source=hootsuite&utm_medium=twitter&utm_term=&utm_content=services&utm_campaign=Castleton

No change in price as a result of trades shown, so what's showing all gone to somebody. Nothing to say here really, til somebody tells us something.

Disappointingly quiet here and has dropped back. But I remain confident in the ability to secure cloud managed services deals, the 7 live tenders, for the new facility, which if RNS'd would set us on the right path again. And cross selling bread and butter will be ongoing adding to the cumulative repeat revenue. We wait.

All resolutions passed, including the small maiden dividend.
Final Dividend
"Shareholders are being asked to approve a final, maiden, dividend of 1 pence per ordinary share for the financial year ended 31 March 2019.
If approved, the final dividend will be paid on 23 September 2019 to all shareholders who are on the register of members of the Company at 6.00pm (UK time) on 23 August 2019."

BGF deciding to take up another 2%. They are very unlikely to do other than hold or increase now I think.

Those may be double-reported. Anyway, at least £500k sold and bought, maybe twice that. More shares starting again, with no damage to sp.

Big shareholders sorting themselves out through FinnCap.and reporting to market. £2m plus at £1.

Toddling along with a few pounds changing hands. All waiting for something to drive the next leg.

There may be something to be picked up by anybody attending the AGM, but if there is something material to investors price wise to be spoken of I would expect that to appear in a RNS prior to the meeting.

Cannacord 15000 or so shares down on reported holdings.

There's also this one, now on Castleton website https://www.castletonplc.com/news/housing-technology-grand-unions-1m-castleton-infrastructure-deal/

And we wait to see the outcome of the seven live contract tenders mentioned by Mr. Dickinson, and perhaps something on cloud uptake - alongside cross selling of solutions.