The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Hi Mesquida, happy to be wrong but somehow I doubt the seller was/is Schroders.
As you have said no RNS and for a company this size the rules are the rules & compliance is not an option. And why after all they have been through with this small holding (in the scheme of things) would they sell at this point.
Like you I have been on the lookout for an RNS. There must be a number of holders, even multi funds within one company with just under 3%, my guess is this
is where ethe seller comes from
A few weeks ago we had atrading update:
1. Trading ahead of expectations for the 1st 4 months.
2. Despite headwinds trading performed strongly.
3. Order intake (visability) good.
4. Framework agreement moving into production on time and to budget.
5. Aerospace early signes of recovery, (now US opening) orders ahead of production.
6. Cash generation good and ahead of prior year. New pension initatives.
7. Share price !
Update 44p. Now 34p
where is the Logic?
A few weeks ago we had atrading update:
1. Trading ahead of expectations for the 1st 4 months.
2. Despite headwinds trading performed strongly.
3. Order intake (visability) good.
4. Framework agreement moving into production on time and to budget.
5. Aerospace early signes of recovery, (now US opening) orders ahead of production.
6. Cash generation good and ahead of prior year. New pension initatives.
7. Share price !
Update 44p. Now 34p
where is the Logic?
The directors also said they would not be looking to raise.
Sorry Surfie, I don't myself like non relevant posts. I did though on this occasion get a bit excited after watching the epic match it was.
I doubt I will do it again for at least a few decades ;-)
Good luck with you investing.
Market manipulation is a fact.
I did 3 trades today.
one small one show as a buy. Another larger one shown as a sell and in the middle of those two a somewhat larger one which has not been published yet.
And then they mark the price down........it seems all the odds are stacked one way.
What a match. What a champion.
Bet there were a few bits from CARCLO in that medical bag ;-)
.
From our full year results 20-21:
"As a result of CTP's reputation for delivery and quality, the division secured three new large medical customers. Two of these customers operate in the diagnostic field and the other in pharmaceuticals. Demand for new COVID products was high and is expected to remain so for some time, whilst demand for some non-COVID medical products reduced as a result of treatments being delayed."
Not only did we win 3 NEW CUSTOMERS but we will shortly be back on track as the non covid catchup gets underway.
certainly looks that way spactec. All above the bid. If they were sells we would be in the 30s now.
Let's hope it continues for sure.
Thank you for posting lamsailing.
Whilst it's good to read the telegraph report I wonder if Nick Hawthorn could post the contact number and time so we could have a good old conference call or maybe Zoom it;-)
Great post by Rainmaker (posted just after midnight) on ADVFN this morning he goes a bit further in the research.
On this occasion I think they are referring to something else Perkylad.
They are restricted where funds are physically invested. I can only think it is something to do with reducing the numbers in the scheme. The way these schemes calculate long term liabilities allows them to offer very generous terms to members who want to switch out.
Not only can this offer improved/more targeted benefits to the member it may well disproportionately reduce the schemes long term liabilities.
For example, a defined benefit scheme is indexed linked and provides for a surviving spouses pension. this assumes the member has a spouse and that they don't have their own pension. The company may be able to offer these members a generous transfer to another scheme (drawdown pension perhaps) where the member can get more suitable benefits at a much lower cost and pocket and surplus cash (Subject to pension rules) The company will benefit as the cost of the transfer out can be considerably less that the provisions it has to make to provide them when the member retires.
Bit of a fistful on a Friday evening, just my opinion and may be well of the mark.
Have thought about this Chrisjse.
I wonder if they could incentivise members to move out of the scheme. Other than that I haven't a clue. If they can get the deficit down faster that would be great.
I thin the management are doing a fab job. Here we are Sept 2nd two days after their first half and we get a 4month trading update. That's investor friendly in my books not many companies this size would provide so much detail so quick.
Certainly not the previous board (s). We ought to change the company name "New Carclo" -;)
Ahead of expectations, framework and new customer programmes on target for full year.
Alongside the positive trading performance, the division continues to make good commercial progress with order intake in the medical and diagnostic sector remaining strong and showing some good potential.
The Aerospace division showing early signs of market recovery with order intake exceeding sales for the first four months of FY22 following a FY21 where sales exceeded order intake. And winning business with new customers in line with its long-term strategy.
Cash generation ahead of expectations debt reduced further and pension initiatives being developed with trustees to reduce deficit faster than employer contributions alone.
Yes there are headwinds 're staffing in the US but looking to improve. Finally company increased inventories to stave off raw material supply issues.
A brilliant update. Jmo
Pure guesswork. Not advice to buy.
Revenue: £60.5m. Based on H2/FY20/21. (£57.6m plus continued recovery from Covid 19 and new clients)
UOP: £5.376m. Based on the average of 3 previous years 17-18/18-19/19-20. Plus 1.5% for improved efficiencies (no CEO etc.) Which is 8.8866% of revenue.
PBT: £4.172m. Based on finance costs as FY20/21. £2.659m minus say £750k arrangement fees, divided by 2, 6months. Low exceptionals £250k, as most problems now behind us as stated in annual report.
No account taken of possible raw material shortages.
No account taken of the framework agreement. Which could add up to £3-£4m to revenue this period based on the build up to £10m FY 21/22.
If we then simply take 12 months as double the above ignoring growth, framework etc. We have FY 21/22.
Revenue: £121m
UOP: £10.752m
PBT: £8.344m
£8.344 x 17.55 PE (Ave 250 Company. Micro cap higher) £146.437m.
£146.437m minus say £40m for pension and say £30million debt = £76.437m
73.29m shares that gives £1.04p per share.
Lots going on with new clients and continually recruiting. Hopefully we will get info on a AGM RNS.
Is anyone going by the way?
As I have said previously loads of holes. My opinion only.
Bought in here about a month ago. Looking very interesting. Like the recent purchase, earnings enhancing yr1. Keep that up Nat. Market certainly likes it.
I am hoping for a sign of how things are going such as revenue.
Lots of companies take this opportunity (AGM) to give shareholders a brief update.
Has anybody given any thought as to what the revenue figures will look like?
I have and will post them nearer to the AGM date.
Well spotted Rivaldo.
Funny trading today. Nice bounce from the days lows.
One question I would have liked to have asked at the "Investor meet the company" webchat.
"When would the company be introducing share options for those employees/directors running the company"
Needless to say I am pleased to see that some have now been awarded.
The shares are at the moment options, but the company will at some time in the future need to, 1. Issue new shares 2. use treasury shares (if they have some) 3, Purchase the shares in the market. I believe the shares are nil cost so the fact they were issued yesterday means nothing unless the company buy them today or take out options to buy them today.
The shares options will be awarded based on the performance :
50% on earnings per share over the coming 3 years. & 50% on total shareholder returns over the same period.
The share price is beaten up at the moment due to a seller in the market. This happens when you have a share that trades in low volumes . This won't be the case for ever ! JMO