Member Info for mathewawood

I was wondering the same. I noticed that the share price was not marked down 2p on Thursday, like is usual when a share goes ex-dividend. I was guessing it was because the default option would be take the cash offer. I went to my II Investing account today and the cash offer was the default option. Now, having gone for the scrip offer in full, surely I can sell my shares and still get the scrip shares as well? Surely only a complete fool would elect to go for the cash offer. Hence additional shares of 6% will be added to the existing register devaluing the mkt cap. Yet there has still been no ex-dividend devaluation.

Ask the seller. It depends how low they are (probably Gresham House) prepared to go to clear their position. It's just a waiting game. Unless there are underlying problems with the company. Unlikely since Results were out just 3 weeks ago and were satisfactory.

Broker update from FinnCap.... ScS Group (SCS): Sales update (BUY) ScS has today confirmed that trading momentum continued for the past 8 weeks of FY 2016 with LFL sales order intake +14.8% for the 53 weeks ended 30 July. Accordingly profits are expected to come in in line with expectations (finnCap forecast FY16 EBITDA of �15.6m, EPS 19.4p). Given the 24% decline in the price post the referendum, the stock is looking cheap on 7.8x earnings. That said, there are a few points to bear in mind: 1) the weak H2 base in the PY (LFL order intake +1.4%) has flattered the FY outturn; 2) the current period contains 53 weeks of trading and July 2016 had 5 weekends compared to 4 in the PY; 3) Potential FX impact and/or changes in consumer confidence will take time to feed through into spending patterns; and 4) the base is now high going into FY17. We are currently leaving our forecasts and 230p price target unchanged, but note that the August bank holiday will be the first key trading period post the referendum and will make a further assessment then.

I take it your referring to the 4%-5% drop since it went Ex-Div on the 17thSept. The sp has had no change from end of August (if you take of the 10pDiv). That's the clue I'd say. You quite often see a rally up to a big Divi for Capital Gains Tax reasons (Investors with big CGT liabilities can bank the divi as income and then sell just after the ex-divi date to bank a CGT loss) . Hence all those guys that bought pre the Ex-Div have now exited, causing the 4%-5% drop your talking about. Nothing to worry about. In fact this really is a super defensive stock its up 4% in last 3 months right through all the market turmoil (FT100 down 7%) PS I see it was tipped by Tempus of the Times today so expect a little buying on Monday.

Looks like Simon Thompson wants a piece of the action. Just tipped it.

Whoops. Sorry for the scare. Was looking at last years number. My mistake.

That's a big weekly drop on the US Rig Count. Ominous I'd say.http://www.wtrg.com/rotaryrigs.html

For the first time in months I'm having trouble buying these at the full offer price. Possibly this 325K purchase today may have cleared the seller. There's been an over-hang for a while now and without it the share price should re-rate quickly with such a tiny mkt cap.

Ignore all comments from me! My logic is obviously shot after the RNS that Invesco still have 10%. I really want to see them cleared, cause I can't help feeling they're the ones keeping these anchored at 11p. This is a solid company now they've recovered and the pipeline is growing again. MktCap of 6.6M is just too cheap IMO.

Can't be sure its Invesco. But they have been a big seller now since 24th Jan with 4 RNS's since. Last one was 30th Apr sying they had 6.5M left. Im guessing (surely pretty obvious) that the big recent sales as listed in post below must be Invesco. In which case they must be nearly out. Which is v good news in my opinion as this was a massive (Invesco started with 22% of the stock) overhang.

Last RNS 30th Apr said Invesco selling aggressively and down to 6.5M. 1M sold 09/05 - 2M sold 12/05 - 2M sold today probably about 1M sold over last 2 moths to Privates. Id say next RNS will say they're out. Theses massive overhangs, when cleared, are usually followed by big spikes up in the sp to a more realistic level. Looking at 10th Sep when Aviva cleared their big holding sp spiked to 17p then climbed from there.

Been tipped: http://www.docdroid.net/csm5/proi-ir-may2014-spsy.pdf.html