Member Info for lemmink

Tried some dummy sells earlier in the day ... was offered 21p for 10,000 and was unable to obtain a firm electronic offer for 100,000 and 140,000

Lloyds seem willing to sell in the 20p-21p range.

After a very brief look at the "1st half Vs 2nd half" results for the Yr ended 31/03/11 ... Full Year Adjusted Earnings of £820K Vs Half Year Adjusted Earnings of £675K (being £458K with £217K added back) * *** Comment *** The numbers were sloppily pulled together but show it to be usual for the second half of the year to be relatively weak ... + from memory very bad winter weather was blamed for that second half being particularly bad.

On reflection/ condsidering the changes to the major shareholder list ... My guess is Lloyds started selling at the top of the share price slide and stopped part way down (20p - 25p?) ... PI selling thereafter was bought by S&M and they may or may not have stopped buying at 21p?

as at 27/04/12

From FY11 accounts page 33 ... as at 27/04/11 the major shareholders were ... * SPQR 29% * LLoyds 12% * J Benaim 8% * P Salik 7 % * EBRD 5% * M Meeus 5% * Since then there have been 4 holdings RNS's showing Lloyds to have sold 4%, M Meus to have bought another 2% and P Salik to have bought another 10%. * *** COMMENTS *** It does seem possible that we could be due another Holdings RNS to say Llods have sold out, but it could have been smaller investors and PI selling to Meeus & Salik? * Meeus & Salik have 24% between them and always seem to buy together ... acting in concert? * Meeus & Salik appear to have bought during what I assume is a closed period, so I guess they are not insiders or significantly connected/related to BDP/SPQR ?

Meus & Salik bought sh:t loads ... taken out Lloyds completely?? just got back from pub ... cant think straight ... tommorow could be a good day? ... GLA

Sold 20,000 @ 19.6p holding 140,000 Av 36.7p ... Limit order (exp 25 days time) set to buy 10,000 @ 17.75p

Lloyds / Scottish Widows dumped 8 million shares in August ... which is inconsistent with reported volumes on google finance? ... all a bit odd ... Advfn posters have discussed it a fair bit.

Bought 10,000 @ 17.9p ... Holding 160,000 average 34.5p ish ... down to circa £4K spare cash ... too greedy?

Hi, attempting plain English ... The results seem better than last year, so the company is getting stronger, but taking account of what the company claim to be one off costs and foreign exchange rates suggest the company is only just beginning to make a profit. ... Also I suspect the market is taking the view that since staff and directors have the right to buy at 1.3p then why should anyone else be willing to pay more?

Intangible assets per share 4.36p vs 4.57p

Mostly from the FYA ending 30/04/12 ... *** Balance Sheet Stuff *** Equity per share ... 4.8p vs 4.95p a year ago * Intangible assets per share ...4.8p vs 4.95p * Cash per share ... 0.47p vs 0.45p * *** Equity Quality *** The number of shares in existence increased by 3.7% (from 1,117 million to 1,158 million) during the year. One NED is paid £20K pa in new shares each year in leiu of 50% of his salary. Options to buy up to 30 million new shares have been given to some directors and staff at a strike price of 1.3125p each. * *** Income Statement Stuff *** Revenue per share ... 9.36p vs 7.3p a year ago * Gross margin ... 19.5% vs 21.9% * PBIT margin ... 1.77% vs -0.89% * Underlying PBIT margin ... 4% vs 4.2% * Net margin ... 0.4% vs -1.3% * TCI margin ... Break even vs -1.4% (TCI= Total Comprehensive Income) * Underlying PBIT per share ... 0.37p vs 0.3p * Adjusted EPS 0.26p vs 0.21p (0.7 x Underlying PBIT due to assuming tax at 30%) * *** COMMENT *** Just looking ... seems cheap enough under 2p ... might buy some one day ... currently stuck with other stuff (skint!)

Thanks for keeping us up to date.

With reference to the preliminary FYA ending 31/03/12 and interim HYA ending 30/09/11 ... *** INCOME STATEMENT STUFF *** Turnover per share --- 93p(1st half) Vs £1.04(2nd half) * Gross margin --- 24.6% Vs 21.2% * Operating margin --- 5.5% Vs 3.7% * Adjusted Net margin --- 3% Vs 1.8% * Adjusted EPS --- 2.785p Vs 1.895p * The Chairmans statement says "The Board was particularly pleased with the trading performance and cash collection in the second half of the year" --- I do not think it was "particularly pleasing". * *** BALANCE SHEET STUFF *** Equity per share (Goodwill backed) --- 96p (at end of 1st half) Vs 97p (at end of 2nd half) ...no big impairments? * Net Debt per share --- 45.18p Vs 40.27p * Net BANK Debt per share --- Not given? Vs 38p * Current tax payable per share --- 1.86p Vs 2.37p * Trade and other recievables per share --- 43.2p Vs 41.3p * Trade and other payables per share --- 33.7p Vs 36.4p * *** COMMENTS *** Margins were severeley cut or squeezed in the second half of the year, perhaps too agressively or as a competitive necessity? * Full year underlying EPS was 4.7p IMO which is less than the 5.4p+ which I was hoping for, however the UK is in recession again, so perhaps I was expecting too much? * NTBR's "resilience" looks set to be tested further by more "sub normal business conditions" in the year ahead ... Dividends may be a few years away?

A mixed bag of impressive, disappointing and confusing IMO ... Double dip recession beginning to bite?

From continuing operations ... Actual loss per share 21p, Net exceptional costs per share 27p & Adjusted EPS of approximately 6p per share for the half year. * *** Comment *** MEC usually does better in the second half, so full year adjusted EPS may be circa 18p, but bearing in mind the dividend and assuming no significant net exceptional positive stuff, the balance sheet appears set to continue contracting in 2012?

Net debt = 72p a share or €110m in total (with a further €10m to pay Jan 2013 for De Pers thing) * NAV =£1.53 ish * Results from court hearing (fine of €10m - €20m ??) not expected until Sept 2012 *

Holding 150,000 shares order (exp 29/8) placed for 10,000 at 15p ... SP beginning to look safe?

Holding 140,000 order (exp 24/08) set to buy 10,000 @ 17p