Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sorry it is nearly 1 million he has SOLD !!
Looking at the RNS has he not bought 60,000 ??
Matt just out of interest how many shares does Peter G have ?
Details of the AGM http://uk.advfn.com/news/UKREG/2012/article/52279738
Extract from financial highlights showing the dividend is to be 3.5p (subject to approval at the AGM) :- · Sales up 29% to £14.0m (2010: £10.8m) · Operating profit from continuing operations up 72% to £1.5m (2010: £0.9m) · Profit after tax from continuing operations up 89% at £1.2m (2010: £0.6m) · Earnings per share more than doubled to 1.31p (2010: 0.61p) · Year end cash up to £2.8m from £1.1m at the start of the year · Contracts exchanged on sale of freehold property · Distribution of 3.5p per share by way of return of capital to be proposed at the forthcoming AGM
http://boards.fool.co.uk/21st-century-technology-c21-12481568.aspx This was the article that is said to have started the buying. On the topic of the special dividend if the company was looking at a share buy back it would have to have Peter Gyllenhammar agreement to it and the company would have to buy his shares on a pro-rata basis. The reason being if he goes over 30% ownership he would then be asked he intended to take over the company as his share holding would be in excess of 30%. Would be interested to hear if my theory is correct.
21st Century, the supplier and installation service provider of public transport CCTV and vehicle monitoring systems, today announces that it has exchanged contracts for the sale of its freehold head office premises in Drake Road, Mitcham, Surrey to Byrne Group plc ("the Purchasers") for cash consideration of £2,350,000. The Purchasers have paid a deposit of £235,000 and the balance will be payable on the agreed completion date of 6 January 2012. The property, which is mortgage free, was disclosed in the Company's last unaudited interim accounts released on 19 July 2011 at a carrying value of £2,592,000. These accounts also included a provision for deferred tax on the property revaluation surplus. The Board believe that the write back of surplus deferred tax provision will eliminate the book loss on the property disposal. Following the disposal of the Company's legacy distribution businesses at the end of 2009, the head office site has been significantly underutilised and the Company has been marketing the property for sale since that time. The Company intends to move to more suitable leasehold premises in the Croydon area but in the meantime has agreed a short term leaseback of the Drake Road premises from the Purchasers. In a trading update on 13 December 2011, the Company announced that it no longer has any bank debt and its cash balance at 30 November 2011 stood at £2,700,000. The net proceeds from the disposal of the property will be added to the existing cash reserves and applied to finance investment in future business development opportunities. The Board will also give consideration to the payment of a special dividend once the Company's full year results to 31 December 2011 are finalised and if the Board believes at that time that the payment of a dividend would be in the best interests of the Company. Commenting on the property disposal, 21st Century's Chairman, Jan Holmstrom, said: "I am delighted that we have exchanged contracts for the sale of the Drake Road premises which were no longer suitable for our needs and an uneconomic base for our current business. Our plan is to relocate within nine months and remain in the locality therefore we do not anticipate any staff retention issues. "We maintain our strategy to create and enhance shareholder value through organic growth, performance improvement and corporate activity where opportunities arise. With cash reserves significantly boosted by the property sale, we are looking forward to the New Year with confidence."
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11072556 Good news on the sale of the property. Hence the good increase in share price