Member Info for harford

Odd turn of phrase in today's RNS: "Whilst there can be no assurance that the proposed acquisition of Kanabo can be concluded, we are hopeful that it will work out".

Some big trades today, maybe Capital financial?

http://www.spinnakeropportunities.uk/Pharmafocus.pdf

Interesting tweet today by Ethernity regarding Nvidia's bold move to acquire Mellanox. Ethernity's Vice President of Sales (Rob O'Hara) was previously VP of Sales at Mellanox. I wonder if Ethernity could find itself a possible bid target in the future?

Good point bidnolid but according to City Financial last report it looks like they owned not 4% but over 7%
https://www.cityfinancial.co.uk/assets/download/15013/City%20Financial%20Investment%20Fund%20Series%20IV%20-%20Reports%20and%20accounts%20(interim)%20-%202018%2010.pdf

And another:

https://www.facebook.com/watch/?v=1773893972660477

Their http://www.vapepod.com product sounds interesting.

https://www.youtube.com/watch?v=1q2nXh-qQcs

https://total-market-solutions.com/2018/04/17/falcon-oil-gas/

Got it from Research Tree which is subscription only site so I guess it’s not public.

“We view the risk-reward proposition as compelling and highlight significant upside to our target price of 207p”.

Target price 207p

Just took the free trial CEM9, not decided yet whether I'll pay the �25 per month subscription.

Hi CEM9 - I got the Broker note from Research Tree Regards, hartford

The Arden Partners broker note published after the profit warning forecasts revised PBT of $2.516m for 2018E and $7.326m for 2019E. In sterling terms roughly �1.8m and �5.247m. So for 2019 on a PE of 20 a market cap in excess of �100m i.e. �3+ share price is not entirely unrealistic.

With 82% of shares in the hands of directors or institutions there is little free float so it won’t take much buying to see this rise.

The revised Miton holding is now noted on Ethernity's website but it's interesting that none of the other institutions have reduced their holdings so no obvious indication of who the seller was. http://www.ethernitynet.com/shareholder-analysis/

Actually, looks like Miton hold shares in their UK Smaller Companies Fund as well. According to last report for that fund they held 1,872,512 shares, plus the Microcap Trust 1,427,947 announced today makes a total of 3,300,459 which now puts them holding over 10% in total.

Odd though because according to Ethernity website Miton held 8.8% Miton Group plc 2,857,143 8.8% Does this RNS just refer to the Miton UK Microcap Trust PLC and they hold the rest in other trusts?

Market cap now circa �18m, not far off cash on balance sheet. Could be a bargain at these levels as the company has already said it is profitable this year. Taken a few at this level.

Results are on the 8th as per today's RNS.