Member Info for Raleigh

Delayed reporting trade from 0838 today, 250,000 shares at 19.5 ( a buy )

No thoughts on that, particularly. I am not sure where to take it, but we have now reached the I think a little unusual stage where the revenue is over twice the market cap.
So is that good, or what?

RNS They give it as as an event changing breakdown of voting rights. Looks to me that Browning West have increased by 3%.

I do not see it as a shell, but I know what you mean. Fundamentally it depends on Mxcp's intentions for it over the next 5 years, with their ultimate aim being to take cash back to their interests there, whatever it takes. I think all options are open, and probably/possibly at the time when they may be required to support with cash.

I still believe they will turn this around eventually. It may now be very cheap at the price.

Wednesday 30 September 2020
IDE revenue mix altered by COVID
IDEFirst half financial data from Croydon-based cloud and IT managed services provider, IDE Group, shows revenue dropped to £12.4m (six months to end June 2020) from £14.7m in the comparable period last year. Adjusted EBITDA was £400k, down from £1.2m last year.

The firm said that while COVID drove “significant additional business activity” around supporting mobile working for customers, this was unfortunately offset by “the majority of our customers” opting to defer projects into H1 and possibly 2021.

While IDE was able to initially save jobs through the furlough scheme, it has since had to make some of those staff members redundant. The company’s cash position looks finely balanced, and it’s possible it may have to seek additional funding if the economic situation turns out to be worse than it has forecast.

IDE has been through a reorganisation and is now split into Partner and Direct businesses. While it has clearly faced some significant challenges, the company says there’s a strong pipeline of opportunities particularly in this recently formed Partner division. As the impact of COVID continues to bite, IDE will certainly not be alone in suffering from the fallout.

Posted by: Kate Hanaghan

Yes to both posts.
I agree with those suggesting that construction will continue despite the Covid front.
Sp wise, it is quite a long time to the next trading update.
I cannot readily conceive of a major shareholder seller here. Yet we know a holdings RNS, rightly or wrongly, can affect the sp. Somebody may build a stake.

Though in the interests of balance I should say that it is apparent that some expected more from the last results. But in fact they were pretty much in line with what the company said they would be. And there was no 'sparkle' in the verbage.

Agree your post., thankyou. There is an awful lot of work to put in, seeking a reduction in losses during the current period. Investors, including of course the major shareholders who supported the capital raise at the price, were aware of that.

I have little doubt that C D and R intend to better their position. You seem to be covering most options.
Gain control by buying IKO shares and take it for themselves.
Expanding the company by providing the funds for acquisitions.( and then take it? )
And as a sort of afterthought, helping SIG through a recovery process.
In the meantime, we have seen no holdings RNS yet from CD and R in line with option 1.
In the absence of anything different happening, this remains a recovery situation.

Disappointing RNS. Needless to say, I had hoped for better.

Forget my attempt at explanation of trade flags. I sidetracked myself. There are other possibilities, but I guess a buy and a sell. Whatever, they have been absorbed into the day's trading.

Delayed and this. https://www.investopedia.com/terms/g/giveup.asp.
Bit unusual, but it's in the mechanics of conducting what may be a sell and a buy at 25p. Certainly a lot of shares changing hands.

Share buyers

Going for growth: Blackbird all set to push fast forward and fly high on cloud computing boom.

https://www.sharebuyers.co.uk/shares/blackbird-shares-going-for-growth-fast-forward-cloud-computing-boom/

Incidentally, on past performance, Countryside is said to be the fastest growing UK Housebuilder.
Little bit of information.
https://thenegotiator.co.uk/who-are-the-most-successful-house-builders-in-the-uk/

A little more. Thoughts of National Refurbishment Plan.

Will the Grant be Extended?
It is unclear if the March deadline will be the end of the scheme, but industry experts tend to agree that the scheme should be extended in some capacity. 
The Confederation of British Industry (CBI) has previously stated its desire for the scheme to be extended to March 2022, and this week an MCS survey of accredited tradespeople revealed that 44% think the scheme should be extended by 18 months or longer. 
Russell Smith is working with the Federation of Master Builders (FMB) and the Construction Leadership Council (CLC) to develop a National Refurbishment Plan, which he says could form the practical building blocks of a long-term plan to follow the Green Homes Grant. 
Smith said: “What’s important is that the Green Homes Grant doesn’t end straight away. If the government is creating new jobs and training new people, then we need these people to carry on retrofitting, and if it does end in March we need something else to follow up on its heels. 
“We’re working with the CLC to develop a National Refurbishment Programme, that we hope the government will adopt from April 2021 This would be a practical long-term plan to follow the Green Homes Grant and de-risks such a large undertaking and should gain Treasury support.”
https://www.homebuilding.co.uk/advice/green-homes-grant-what-is-it

Article re Green Homes Scheme running until March 2021

Includes "The BMF will also help TrustMark facilitate specialist product training for tradespeople signing up for the scheme, using the trade body’s extensive physical and online training capacity. The BMF has also offered its 32 Centres of Excellence across the country as potential training centres, with a number of these already located at insulation specialists such as Encon, Knauf, Saint Gobain, SIG, Superglass and Xtratherm."
https://professionalbuildersmerchant.co.uk/news/bmf-trustmark-green-homes-grant/

The buyout theory requires a vote - if other than at value plus a premium it will be rejected. As I see it, in the scenario put forward there would be CD and R on the one side, and IKO and the rest of us all lining up behind IKO. Union says all CD and R need to do to 'pick the company off' is to 'get IKO's shares off them.' I look at the feasibility of that. The first reference I find easily for IKO is this :-

"Canadian trade buyer builds stake in SIG
Insulation and roofing group SIG was a talking point as the FTSE 100 jumped 2.6pc, its biggest one-day gain since April 24.
Ben Harrington
15 July 2009 • 7:49pm

Traders toyed with the idea that Canadian company IKO Group, which is backed by the wealthy Koschitzky family, could eventually be tempted into making an offer for SIG after declaring it has built a 3.1pc stake in the company...."

If you look at the charts, it is in my opinion clear that IKO paid a minimum of 90p for their first shares, and the same for the balance before the final purchase of 30p in the offer. Should CD and R acquire IKO's shares, then if they bid within the following 12 months the bid would have to be for all shares at that price.
IKO have pretty much doubled their shareholding https://www.sigplc.com/investors/information-for-shareholders/information-on-major-shareholders

I do not seek to be definitive, and cannot, and for the purpose of this post it does not matter, but what shall we say - IKO has an average of 60p? Something like that?

IKO know their position, CD and R's position, and the market and potential well. They are not daft, nor are the other major shareholders.

I think there is plenty of room to include a potential buyout situation, alongside a recovery situation, in our thoughts as we move along.

In the meantime, if CD and R really wish to improve their position, and cheaply, they may consider buying now. In which case we shall see notifications.

RNS Another £1.9m bought back and cancelled as being more effective than dividend. On today's, they consider 4145p underpriced.

I can see nothing to dispute in the Prof's post. It is an alternative view to Union's, and unless I see CD and R picking up more shares or somethIng else happens it is status quo. That is not to deny Union's view as to what is possibly conceivable.
Incidentally, has anybody any idea of IKO's average, to put some context into Union's post. Union?