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Share prices are forward indicators. BTG may be hedged but future hedges will be at 1.30 or possibly even lower. Is it £13M in earnings per 5c, do I recall? At 1.30; this stock must have a long way to run, albeit with earnings realization a little way down the track. Just dipping in with a further £30k.
Feel free to dance in the Isles. Personally, I shall be dancing in the aisles. Still, each to his own......
Hmmmm. 148P - is that enough? It's not much of a premium. I would have been hoping for something more in the 170p range......
What it's telling us is that the market does not believe that the shares will yield full value (NAV). There is a certain inherent suspicion that the value may not be unlocked. I do not personally know the directors of this particular business but it would not be unheard of if they were to run the rump in their own interests - it's happened plenty of times in the past and I've personally seen it happen. It's just human nature. What shareholders NEED to be clear on here is the run-off plan. This is now a dormant company - it has no trading future in its current guise and there is no need to keep it running with the attendant management and listing costs. Shareholders need to see a specific run-off timetable with attendant costs as part of the plan during the meeting. They need to be alive to the possibility that directors will see this as their own personal vehicle and they need to be happy that the properly outlined run-off plan is actually adhered to. Again, no specific comment here on any individuals - let me be transparent on that - but a general concern coming from observation of past situations which are not dissimilar. If the directors outline a clear plan and timetable on the 18th without obfuscation - a signal of clear intent to act in shareholders interests, no reason why this share price should not rise to 15-16p.
The share market DOESN'T believe that. Witness the share price - it's not lying.
That's the question to ask the Board at the General Board Meeting on 18th June. What are they doing with the £5M and the listing?? Is this a cute move to grab control of a cash shell by the management after paying off shareholders with an 11p bribe? If so, no good. The NAV looks to be in the order of 15-16p and that's what shareholders should be getting. The question for the management is, why not?? All shareholders are fully entitled to a full and frank response to this question.
Together with a continuingly sugarcoated economic recovery, earnings per share of circa 14p for the current year look to remain achievable along with further dividend progress. Thus the shares, at around 140p, look to retain valuation and yield attractions. This looks to also be the view of star fund manager Mark Slater – with his Slater Investments company increasing its holding to above 4% of the shares in issue following the results announcement. - See more at: http://www.shareprophets.advfn.com/views/4711/motivcom-after-strong-results-follow-mark-slater-buy#sthash.gQanyQDb.dpuf
I didn't see that IC reprot - can you summarise? For my part, I don't see the last RNS as "shocking". The NAV remains well above the S/P and there was always going to be SOME investment disappointment in the portfolio - (when is there not?). On balance, I would have said that the portfolio performacnce is actually quite encouraging but, then again, I may be wearing my rose-tinted spectacles.... I've been holding this for a long time now and I'm generally pretty satisfied with the current management performance. I would like to know a little more, however, about the departure of the founder and the potential legal spat..... BT
Well, they're doing something right, that's for sure. I've been holding this for years and have never seen it on a roll like this before - it seems to have momentum. P/E is becoming a bit toppy and the dividend yield is starting to look less attractive but there is still clearly substantial growth here, particularly if the 2nd half is more attractive than the first, which analysts clearly expect. B
Motivcom sounds confident note Motivcom (MCM) - which organises conferences and employee motivation schemes for blue-chip corporate clients in the UK and Europe - grew half-year adjusted operating profit by 35 per cent to £1.8m. That significantly reflected cost-cutting efforts and was delivered despite a drop in revenues. The motivation division, which is the company's largest in terms of profit generation, increased adjusted operating profit by 20 per cent to £0.88m as new client wins in 2012 provided a boost. Management says that confidence among its clients is improving, with faster, more dependable decisions on investment and a general willingness to now spend on employee engagement measures. "We see some good positive signs; increasing confidence in all areas," says chief executive John Sylvester. Moreover, the promotion division reported a near-doubling of adjusted operating profit to £0.2m, driven by new business wins and improved efficiency. While the events division grew adjusted operating profit by 38 per cent to £0.81m as the benefits of cost-cutting in 2012 came through. A 10 per cent share buyback was completed in April and, with the company still holding net cash, it has the flexibility to consider further share buybacks or bolt-on acquisitions. Broker Numis Securities expects full-year pre-tax profit of £4.7m, giving EPS of 12.8p (from £4.1m and 10.5p in 2012). MOTIVCOM (MCM) ORD PRICE: 153p MARKET VALUE: £41.6m TOUCH: 150p-156p 12-MONTH HIGH: 157p LOW:87p DIVIDEND YIELD: 3.1% PE RATIO: 18 NET ASSET VALUE: 72p* NET CASH: £3.8m Half-year to 30 Jun Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2012 49.2 0.90 2.15 1.50 2013 46.3 1.56 4.18 1.80 % change -6 +74 +94 +20 Ex-div: 2 Oct Payment: 1 Nov *Includes intangible assets of £23.4m, or 86p a share IC VIEW Motivcom has been a strong performer and the shares have risen nearly 50 per cent since early May. But the trading environment is picking up, there's a reasonable dividend yield and the shares still trade on a not especially pricey 12 times forecast earnings. Buy. Last IC view: Hold, 91.5p, 28 September 2012 visible-status-Standard story-url-Motivcom interims 30.09.13.xml 01 October 2013
...this stock is clearly ona roll. It's been like this for an extended period and YET nobody seems to be interested. I'd really like to get some views on what's going on. Anyone?
Tell me that somebody knows what's going on here?????
Something afoot???
Looking at the reults, I assume that this is why the Group decided to make shareholders a purchase offer at (what was it?) £1.10/share (or something) earlier in the year?? Pleased I didn't take them up on it. If they make any further "offers" of a similar nature, I shall be sure to resist!
.....progressive dividend policy Outlook In the last few years Motivcom companies have invested substantially in systems technologies and digital enabling solutions for clients, operating hundreds of web sites and social media engagement programmes. Almost half the Group revenues are enabled from these developments. The technologies, many of which are unique, provide an excellent platform for future development in the digital age. The business intake of the Motivcom companies continues to meet the Group's annual budget and I expect the Group to perform in line with your Board's expectations.
.....that it's underpriced.......
Love it!
Good to have someone on the Board!! As I recall, the all-time-high was at or around 150. When it hit that, it nose dived to 70 which was my original buy in price - quite a shocker. It looks like this move is more gradual and considered. If you stumble upon any useful research or opinion, please let me know. I have 250k of these shares and am keen to listen! B
Anybody watching this thing???
The regulatory statement is just great. It seems to me (just IMHO) that the NAV at 15p+ must be understated (it always has been of late) and that asset sale prices are likely to be greater than anticipated. 11.5p must be a steal given that the statement reveals that most assets are under negotiation at this time. I'm not going to buy any more but I'm already holding quite an amount and am happy to continue. Looking forward to the payments.......