Member Info for Hedgehog100

Bowen Fintech (BWN), a not dissimilar shell to TMTA, floated just over a couple of months ago, and highlights TMTA's value.

BWN raised £2M. gross in its float, at 4p/share, and its current s.p. is over 50% higher: 6.25p/share, market cap. £3.44M.

TMTA meanwhile has today recovered to its float price of 20p/share, but this is still a market cap. of just £5.5M., compared to its net cash of £4.75M. as at 30.9.22.

31st Oct 2022 7:00 am RNS Admission to Trading and First Day of Dealings

"Bowen (LSE: BWN), a special purpose acquisition company formed to acquire businesses in the technology innovations market with a focus on the financial services sector, is pleased to announce the admission of its ordinary shares of nominal value 1p each (the "Ordinary Shares") to listing on the standard segment of the Official List of the Financial Conduct Authority and that trading in its Ordinary Shares will commence on the main market for listed securities of the London Stock Exchange at 8.00 a.m. today, under the ticker BWN ("Admission") and with the ISIN number GB00BMYX7295.

The Company has successfully raised gross proceeds of GBP2 million (before expenses) through a placing of new Ordinary Shares at a placing price of 4 pence per share. Following Admission, the Company will have 55,000,000 Ordinary Shares in issue. ..."

https://www.lse.co.uk/rns/BWN/admission-to-trading-and-first-day-of-dealings-qlg7gauctarjylt.html

"Monday 16th January 2023
Monday 20th February 2023"
https://melloevents.com/upcoming-event/

Thanks Dab.

We can certainly expect the company to present at the monthly MelloMonday investment webinar, which they were going to do in December before postponing.

The one next week looks a bit early, so the 20th. February one looks the most likely.

Also remember that NWT has just recently refreshed and updated its website, with some good new material.

From the new "Company Insights" section:-

"Company Insights

Insights from around the group

Safetell – Securing Businesses in Uncertain Times
DECEMBER 1, 2022

UK Access Control Market Driven by Multiple Tailwinds
OCTOBER 4, 2022

HCM Building Global Momentum
SEPTEMBER 23, 2022

HCM Poised For Decade of Growth
AUGUST 24, 2022

Key Security Industry Trends in 2022
JULY 7, 2022"

https://newmarksecurity.com/company-insights/

dab808 Posts: 86 Price: 32.50 No Opinion
RE: EnSilica (ENSI) Endorsement 21 Nov '22
"... I have for a long time been pushing for deals that involve reoccurring income through licences and maintenance which can underpin the revenue and remove some risk from trading. Too many times in the past slowdown in revenues against a fixed cost base have hit profitability. With no AGM I have not seen or heard from the management in a while.
However, we are now building in embedded reoccurring income and the expansion into the US is going really well. Costs seem to be under control and we are building price increases in to mitigate inflation. So I hope this really could be the bottom. In the end it will all come down to the numbers for this trading year and then how we can demonstrate this is not a one off. If we can pull that off then maybe 100p is a 12 month target, if we can do it again for a second year and show further potential then 250p could again be hit. 24 months we could be 8x higher than we are today in share price terms but they have to hit the numbers!"
https://www.lse.co.uk/ShareChat.asp?ShareTicker=NWT&share=Newmark-Security&page=2

I would add, Dab, that your call for NWT to move to a recurring revenue model has clearly been embraced by the company, which not only makes great business and investment sense, but also shows respect for your input as an informed and intelligent long term shareholder.

Such a transition obviously can't happen overnight, and requires a lot of investment into R&D.
But NWT's massive investment into new and innovative products and services now looks to be coming to fruition nicely.

30th Nov 2022 1:45 pm RNS 2022 Annual Report & Accounts update
"Newmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, announces an update on the timing for publication of the Company's audited annual report and accounts for the year ended 30 April 2022 ("2022 Accounts"). The Company's audit remains ongoing and, as a result, it will not be in a position to publish the 2022 Accounts by the end of November as previously anticipated.
As announced on 24 October 2022, the Company has been granted an extension to 31 January 2023 for the publication and filing of its 2022 Accounts pursuant to temporary Covid-19 regulations and a further update will be provided on timing for publication of the 2022 Accounts in due course.
The Company provided an update on current trading on 27 October 2022 which confirmed that it had returned to profitability and positive operating cashflows during the first five months of the year ended 30 April 2023, whilst also continuing to grow revenues."
https://www.lse.co.uk/rns/NWT/2022-annual-report-accounts-update-4zfjaxgqgvjxyxv.html

27th Jan 2022 7:00 am RNS Half-year Report
25th Jan 2021 7:00 am RNS Half-year Report
30th Jan 2020 7:00 am RNS Half-year Report
31st Jan 2019 7:00 am RNS Half-year Report
30th Jan 2017 3:54 pm RNS Half-year Report

Dab,

There could be 'method in the madness.
NWT regularly RNSes its interim results in late January.
And the company also has until late January to RNS its final results.
So it could make sense to simply announce both at the same time, which would simplify matters, and give a clearer picture.

The interim results will cover the period May-October 2022, and we know that the company has returned to profitability etc. since the year end, so last year's results will be of largely historical interest anyway.

A related factor is that release of the two together would mean that NWT would emerge from its current 'close periods' together, rather than remaining in a close period until the interim are releases.
This would mean that the directors would be able to buy shares.

LOL, Flashgarden's bashing nonsense is an "explanation" ... now I've heard everything!!

And why not thank Takeyourbets, Kathy?

Flashgarden isn't worthy to lace his boots, in terms of either investment ability or integrity.

Good to receive an update, and for the annual report and financial statement link to be RNSed:-
https://www.londonstockexchange.com/stock/NZI/net-zero-infrastructure-plc/company-page

As you would expect, this is the same report and financial statement submitted to Companies House on 12th. December, which we have already seen.
So NZI's 1.12.22 Chairman's statement in this is talking as if the TCP RTO is still live, despite the 18.11.22 'termination of acquisition' RNS.

And the second RNS today is to a degree qualified in this regard:-
"The Directors of NZI continue to see a number of prospective transactions in the renewable or clean energy technology sector, in line with its existing acquisition strategy. In the event that a prospective transaction becomes viable the Directors will notify shareholders."

This could suggest that NZI & TCP haven't been able to agree terms that NZI currently considers viable for it, but that this could change.

Re the suspension: as I posted here on 22nd. November, I'm not even sure that it's necessary or appropriate for the company to return from suspension at the moment.
Not if there is a lack of clarity about the TCP RTO.

Flashgarden,

If you think my relatively benign comments are vitriolic then perhaps you should get out more.
And also look at some of your own comments to Takeyourbets.

And for the record, it was myself who said that the Yemen research was speculation.
You went far further than that, to rubbish it.
Here are our verbaim comments:-

flashgarden Posts: 114 Price: 0.875 No Opinion
RE: Possible new buy from OMV in Yemen by Zenith 24 Nov '22
" ... We only know facts. Everything else, including unfounded speculation or accusations levelled against anyone that doesnt wear the rose tinted company specs. is just hot air."
https://www.lse.co.uk/ShareChat.asp?ShareTicker=ZEN&share=Zenith-Energy&thread=CE06A782-A72B-4D10-9C85-8C5559DBE1A3&page=2

Hedgehog100 Posts: 2,547 Price: 0.875 Strong Buy
RE: Possible new buy from OMV in Yemen by Zenith 24 Nov '22
"Flashgarden,
With careful research & reading between the lines, investors can sometimes get an advanced indication of what may happen. Yes, there is speculation here, but it's certainly not unfounded; and as long as its clear that it is speculation, and not claimed to be fact, that is entirely legitimate.
I'm surprised that you should attack this careful and impressive research, but then implicitly back a poster here for issuing a 'Strong Buy' recommendation for a 'No Oil' RNS (both before the trading day started) - within an hour, that s.p. had fallen by a quarter. It's right and proper that such idiocy should be flagged up. ..."
https://www.lse.co.uk/ShareChat.asp?ShareTicker=ZEN&share=Zenith-Energy&thread=CE06A782-A72B-4D10-9C85-8C5559DBE1A3&page=2

Kathy,

I wasn't the one who took three days to notice that the longstop date was 9 months (from the date of signing).
I noticed within about three minutes of seeing the RNS.

Still, thanks for at least effectively admitting that you're a share trader, as opposed to a share investor ... which is a subtle difference.
That I think explains your deramping, doesn't it.

Using your fairly nutty logic, if a company was being taken over at a 100% premium, but subject to receipt of an approval, then the s.p. wouldn't move that much until the approval was received. But that's not the case.

You would expect a huge deal like this to take a bit of time to complete, and 9 months wouldn't be long to wait for the rewards on offer.

Though the completion date can certainly be earlier than the longstop date, and we should receive periodic updates on the progress being made.

Kathy,

Is that your only comment on an acquisition that could give ZEN a near term share of the profit, after Yemen corporate tax, of c. US$50M. p.a.?!

If so, then maybe share investing is not for you.

Thanks Lazygun.

Did you speak to 'PrimForAll' ... or can't you say?

I don't see why the company would need the FCA's approval to RNS its final results.
De-suspending after the final results are released is a different matter.

Then there's the issue of NZI's 1.12.22 Chairman's statement talking as if the TCP RTO is still live, despite the 18.11.22 'termination of acquisition' RNS.

It's time I feel for an RNS update, please.

4th Jan 2023 8:46 am RNS Director/PDMR Shareholding

"TMT Acquisition (LSE: TMTA), the investment business established to pursue opportunities in the technology, media and telecom sector, has been notified that on 3 January 2023 Harry Hyman, Jonathan Satchell and James Serjeant, each Non-Executive Directors and persons discharging managerial responsibilities (a "PDMR") of the Company, respectively purchased 40,000 ordinary shares of 4 pence each in the capital of the Company ("Ordinary Shares") at a price of 18.25 pence per Ordinary Share (the "Purchase"). Details of the Purchases and resultant shareholdings for each PDMR are set out below:

Director/PDMR
Number of Ordinary Shares currently held
Number of Ordinary Shares Purchased
Price per Ordinary Share Purchased
Number of Ordinary Shares held following the Purchase
Percentage of Ordinary Shares held following the Purchase

Harry Hyman
1,225,000
40,000
18.25p
1,265,000
4.60%

Jonathan Satchell
1,250,000
40,000
18.25p
1,290,000
4.69%

James Serjeant
750,000
40,000
18.25p
790,000
2.87%"

https://www.lse.co.uk/rns/TMTA/directorpdmr-shareholding-2v5l6xkooafex1j.html

So TMTA's 'three shellketeers' have all just significantly topped up their holdings ... nudging up the s.p. on Tuesday by 0.5p, to 19.5p (18 - 21p spread).

"Introducing your Directors.

The Board, collectively, has significant experience in establishing and growing businesses along with significant experience of managing public companies and risks associated with such ventures both operationally and financially."

"Harry Hyman
Non-Executive Chairman"

"James Serjeant
Non-Executive Director"

"Jonathan Satchell
Non-Executive Director"

https://tmtacquisition.com/

News on the Benin licence award could be imminent ... it was expected by the end of the year, so has clearly slipped slightly:-

22nd Sep 2022 9:05 am RNS Offer for Sèmè Field in Benin
" ... • A proven oilfield, with significant unexploited potential, having estimated recoverable reserves (P2) of 22-28 million barrels of oil and 428 billion cubic feet of natural gas (Kerr McGee 2005).
• Has produced a reported 22 million barrels of oil to date, with last production having taken place in 1998.
• Historical recovery factor of 22%, leaving significant margin for improvement of the recovery factor utilising modern completion techniques, horizontal drilling, and improved 3D seismic.
• Last produced at a rate of approximately 2,000 barrels of oil per day. ..."
https://www.lse.co.uk/rns/ZEN/offer-for-s232m232-field-in-benin-9ipqkv85a2cynli.html

ZEN is also believed to be in advanced negotiations for an acquisition in Egypt, so news on this could also be imminent.

The lack of recent ZEN director share buying suggests that they feel constrained by insider info. on big coming news, but they may well get the opportunity to buy shortly when this news is out.

Last January the ZEN boss Andrea Cattaneo made a £322K. share buy, at 0.825p/share:-

31st Jan 2022 4:52 pm RNS Director/PDMR Shareholding
"Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international energy production and development company, is pleased to announce that its Chief Executive Officer, Mr. Andrea Cattaneo, has notified the Company that he has today purchased a total of 39,029,728 common shares of no par value ("Common Shares") in the capital of the Company at a price of £0.0825 per Common Share (equivalent to approximately NOK 0.10).
Following the dealing, Mr. Cattaneo is directly beneficially interested in a total of 102,468,240 common shares in the capital of the Company, representing 5.47 percent of the total issued and outstanding common share capital of the Company. "
https://www.lse.co.uk/rns/ZEN/directorpdmr-shareholding-opnugta8c0dje9s.html

"This will be deal of the Century"

Thanks INtheGo.

And remember the impact of the 'deal of the LAST century' on the small UK O&G company behind it:-

" ... Ramco ended up with 2pc of one of the largest oil-fields in the world which was sold to 12 oil majors, led by BP/Amoco.
"It was referred to as the Deal of the Century when it was signed in 1996, with five billion barrels recoverable. A few years later, we took the view that we should exit and sold our interest to three companies, led by Amerada Hess, for $150m. That business has paid a lot of exploration overheads since then," he says. ..."
https://www.independent.ie/business/irish/seven-heads-is-still-one-in-a-trillion-for-ramco-26022252.html

That deal fuelled the exponential rise in the Ramco s.p. in the 1990s, when it more than 50-bagged low to high.

Vikings_I Posts: 8 Price: 0.825 No Opinion
Possible new buy from OMV in Yemen by Zenith 22 Nov '22
" https://twitter.com/SamAlyemen13/status/1592367937037688834?t=JvaKXGEUs8D6JkOsl1pG-w&s=19
Check Zenith LinkedIn post Mostly like by OMV employees in Yemen
3000 bopd we are talking now.
Govt approved OMV stake sale in September
https://twitter.com/ConnieDeWitt16/status/1567190317040046080?t=LK4vYyRmTQoRbR4hoWdUtw&s=19 "

Flashgarden,

The speculation was first posted here on 22nd. November (in the first post on this thread, posted above), when the s.p. was 0.825p.
It's currently 0.9p, having immediately risen after the intra-day (10.20a.m.) RNS two days ago.

But in any case, you dismissed the research posted as "unfounded speculation" and "just hot air", so were very clearly wrong.

Now you are moving the goalposts, trying to 'p--- on out parade' with more of your obsessive bashing!

Your completely fluffed prediction, followed by the complete lack of an apology, combined with more of your usual posting of false info. , will doubtless be noted by all, and your credibility here is now close to zero.

3rd Jan 2023 10:20 am RNS Signing of SPA for acquisition of OMV Yemen
" ... OMV Yemen holds a financial interest of 57.14% in production from Block S-2 ...
Production activities were resumed in 2018 at an average gross rate of 17,500 barrels of oil per day and have declined, in view of no new drilling activities, to a gross average of approximately 6,000 barrels of oil per day as of January 1, 2022. ..."
https://www.lse.co.uk/rns/ZEN/signing-of-spa-for-acquisition-of-omv-yemen-04rsxulzkxwtdiu.html

Well, it looks like the speculation posted on these boards in November was pretty accurate, so some congratulations are in order:-

investverysmart Posts: 1,538 Price: 0.825 Strong Buy
RE: Possible new buy from OMV in Yemen by Zenith 23 Nov '22
"all over the Norwegian forums............was quite skeptical but seems to have some truth and if it really does product 3000bopd I am expecting an immediate rerating........lets see if there is any truth to this.........dyor and don't rely on gossip!"
ReplyRecommend (4)Report Post

And so much for the accusations that this careful and prescient research was "unfounded speculation" and "just hot air".

I think this is one of those investment situations where the sheer magnitude of the deal is taking time to sink in, and the big gains from it are still to come.
The acquisition looks an absolute steal, due to OMV's stated divestment strategy, posted by MarketGunslinger yesterday: “The intended divestment is based on OMV's strategy of reducing the share of oil in the portfolio."
https://www.spglobal.com/commodityinsights/en/market-insights/topics/ukraine-war

Production costs of approximately US$28 per barrel, at c. US$80/barrel, = c. US$52/barrel profit.
x Recent production of c. 6,000 barrels of oil per day ("BOPD")
= c. US$312,000 per day of profit.
= c. US$113,880,000 p.a. of profit.

Zenith Energy Netherlands B.V., 49% owned by ZEN, will have a 57.14% share of this, less Yemen's corporate tax, after allowable deductions:-
"Corporate Tax
The standard corporate tax in Yemen is 20%. Other rates are applicable to specific categories. They are:
... 35% for oil, gas and mining activities and international telecommunication ..."
https://www.businesssetup.com/ye/tax-services-in-yemen

= c. US$31,884,805 p.a. ZEN share of profit, less 35% Yemen corporate tax, after allowable deductions = say c. US$20M. profit p.a.

I.e. ZEN's share of the acquisition cost could be covered within c. 6 months.

And these oil revenues have great potential fairly rapidly more than double: from c. 6,000 BOPD to c. 15,000 BOPD, by a ready to execute near term work programme.

If successful, this could increase ZEN's share of the profit, after Yemen corporate tax, to c. US$50M. p.a.

Moreover, there is also very exciting natural gas production potential:-

3rd Jan 2023 10:20 am RNS Signing of SPA for acquisition of OMV Yemen
"Gross total recoverable gas volumes have been estimated by OMV, across the OMV Yemen portfolio, to be approximately 571 BSCF."
https://www.lse.co.uk/rns/ZEN/signing-of-spa-for-acquisition-of-omv-yemen-04rsxulzkxwtdiu.html

To put that into perspective, ZEN's impressive Italian natural gas reserves are 16.3 BSCF of proven and probable reserves.

There looks to be huge potential for the monetisation of OMV's Yemen natural gas production, all of which is currently flared, and ZEN are clearly experts in this field.

And this would further highlight the company's green, ethical credentials:-

"Natural gas is a fossil fuel, but the EU will count it as a green investment – here’s why
Published: February 4, 2022 3.00pm GMT
The European Commission has decided that power plants burning natural gas can be considered generators of green energy. This means they can count as sustainable investments along with nuclear power. ..."
https://theconversation.com/natural-gas-is-a-fossil-fuel-but-the-eu-will-count-it-as-a-green-investment-heres-why-175867#:~:text=The%20European%20Commission%20has%20decided,investments%20along%20with%20nuclear%20power.

Botham,

ZEN in London yesterday rose 18.75% (from 0.8p to 0.95p), one of the best risers of the day.
In bad markets I wouldn't call that very disappointing, or even disappointing.

And the volume of over 36 million shares traded across both exchanges was about 2% of the shares in issue, equating to a value of about a third of a million pounds.
(26,643,603 shares traded in Oslo, and 6,039,804 in London).

I wouldn't call that limited buying at all: for a very small cap. company that is very significant buying.

Thanks for your usual excellent input, MarketGunslinger, and I fully concur.

Well done and thanks to ZEN's management for pulling off such a superb, company-making deal ... and proving a few people roundly wrong in the process.

We were hoping for something big by the end of 2022, and I think that most shareholders will settle for 3rd. January!

So that's one anticipated major acquisition or licence award bagged, and three more to go (that we know of): i.e. Benin, Egypt, and Congo.

And with renewed confidence about ZEN's ability to deliver on the big deals.

But ZEN now already looks well on the way to fulfilling its stated mid-tier ambitions:-

"STRATEGY
Zenith Energy’s aim is to become a mid-tier, Africa focussed E&P company ..."
https://www.zenithenergy.ca/about/strategy/

Remember that s.p.s don't tend to rise (or fall) in a straight line, so the initial re-rating upwards from this deal could well take a few days to play out. We shall see, but it certainly looks worth a lot more than the current share price rise, especially from such a comparatively lowly and depressed level.

NWT's current financial year, ending 30.4.23, could be a breakthrough year in terms of increasing high-margin, recurring revenues, driven by Human Capital Management (HCM) sales in the US.

And I would certainly expect the NWT s.p. to be rewarded with a strong rerating upwards accordingly.

This month should be a big one for NWT newsflow, with last year's final results, and the subsequent interim results, both expected, so a good 2023 s.p. recover could be starting imminently.

"Newmark Security plc Provides Earnings Guidance for the Fiscal Year 2023

10/27/2022 | 02:00am EST

Newmark Security plc provided earnings guidance for the fiscal year 2023. For the year, the company expected to increase high-margin, recurring revenues."

https://www.marketscreener.com/quote/stock/NEWMARK-SECURITY-PLC-4002209/news/Newmark-Security-plc-Provides-Earnings-Guidance-for-the-Fiscal-Year-2023-42102454/

27th Oct 2022 7:00 am RNS Trading Update

" ... Grosvenor is launching a new HCM SaaS Cloud Control platform in FY 2023 which is expected to increase high-margin, recurring revenues. ..."

https://www.lse.co.uk/rns/NWT/trading-update-intr433crv89jfd.html

Mls,

I actually used several comparisons for ZEN's performance last year, one of which was the AIM index, which is a very useful and relevant comparison.
There isn't a main market penny share index that we can also compare ZEN too, is there.

And I would add that the list of people who actually care about you losing money on ZEN years ago is very short: perhaps as short as just one person!