Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
I think a toast is in order
Well played Distil!
Yes and it was 150p the year before that paying 5p dividend but we only own 49% of the company now.
Great to see a really positive RNS with expected EBITA more than the Market Cap.
Outlook: Underlying EBITDA in excess of £33m (pre IFRS 16) and reduction in net debt expected for the year to 30 November 2020
Not so bad that creditors are happy to take shares.
Looking good with bonus of divi boosted back up again.
Wow. Looks like we got an excellent deal all round.
Agree this is good value at this price but it is likely we will have to wait for the next financial year to see a real boost in the SP.
FY 2020 will still include a number of one-off costs as the new board finish sweeping the place clean.. which is fine with me if they are still expecting over 100m in efficiency savings in FY 2021 (more than the current m/cap). Those willing to wait a while will be rewarded, and when Kier eventually gets back in the FTSE 250 and starts paying dividends again I'll personally host a Kier party (providing Covid has gone).
The text below is from the smaller print in the RNS... so it is PVG that will be de-listing and it is probably in the best interests of the major shareholders but certainly not in the interest of private investors. So I would probably have to agree with 'absurd' and also 'dodgy'.
For the reasons set out above, the Directors believe the Delisting is in the best interests of the Company and its Shareholders.
Following Delisting, there will no longer be a formal market mechanism enabling Shareholders to trade their Ordinary Shares. While the Ordinary Shares will remain freely transferable, there will be no trading facility in place post Delisting and the Ordinary Shares will be more difficult to sell. It may also be more difficult for Shareholders to determine the market value of their investment in the Company at any given time.
The Company will consider implementing an off-market trading facility post the Acquisition or a relisting of shares on an appropriate index in the future.
Shareholders should seek their own independent advice when assessing the likely impact of the Delisting on them and their shareholding in the Company.
yup, you were right about RG increasing stake. It's a smart move as these shares are still less than half-price (IMHO)
This has dropped as if PVG are delisting.. that's not the case is it??
Decent jump up on just a single small trade.. what's that all about?
I'm happy with the fundamentals but agree I wouldn't like to be holding from 5 years ago. It's only 2 years ago that they introduced the progressive dividend and although this years is still deferred it hasn't been cancelled yet. Nice to see an AIM company that makes a profit and pays a dividend... I've no problem soaking up the shares at this level.
Great little company with fantastic products.. but somebody needs to grab them by the scruff of the neck and thrust them in front of the World Health Org, Governments and major utilities.
On the contrary, thanks to the UK Government this company is well positioned to continue prospering.
It's a really great update. I just wish they would add some trumpets and party poppers with it.
Given they have so much Government work on the books and they are not currently paying a dividend, you would think that their first port of call for any funding would be the Government CLBILS and/or Corporate Financing Facility.
I'm sure they would sell any or all of the brands given the right price.. I've heard Don talk previously about our tiny mcap (£10m at the time) and the potential for a brand sale 5 x that valuation. We have sales lines into the UK major supermarkets and in Duty Free outlets and even Wetherspoons.. I just think we need to be a little more agile with our range of offerings.. and hopefully we can do that going forwards.. Mardi Gras? We just need to be there at the right time with the right product when one of the big players decides they need to have xxx in their range. In the meantime I'm just happy that they don't ever ask shareholders for more cash like most other Aim companies do.
Happy with the results considering what's going on all around us.
Revenue up, profit up, money in the bank and still that 20 - 50m brand sale possibility.
If you think Oil has a future then this share is currently way less than half-price.
Think you might regret that move LUFC.. 888 just back in the FTSE250, trading ahead, paying dividend and plenty of cash.
Looks like a pretty and sensible decent update.. surprised there hasn't been more buying this morning.