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Exactly what I like to see. Identity of buyer/seller is unimportant, but ideally they have gone to a small or new holder.

As stated in tha last RNS

"The consideration for the Investment will be paid in cash; £1.5 million on Completion, with £0.75 million to be paid on 2 January 2019......
The majority of the proceeds are intended to be used in order to fund an Employee Benefit Trust (the "EBT") which MXC is in the process of establishing. The purpose of the EBT will be to buy MXC shares in the market ......."

"A further announcement will be made upon Completion, which is expected to occur in the near future."

Once completion effected, MXCP will be in a position to commence buyback

Similarly, looking ahead there is another possible financial event in addition to the end of the £600k annual payment to 365 Agile (requiring a potential £300k minimum cessation payment dependent on total sales )
BGF has the option to convert the remaining £2.5m of loan notes regarding Kypera into shares at 85.6. They are in the money, the stock is rising, and predicted to continue. Castleton can redeem the loan notes as of February 2019, and save 5% interest and say 3% stock dilution ( relatively small beer ) At face value it seems in BGFs interest to convert, and Castleton's to buy the notes back. Only they know the ins and outs of that one, and other factors in the equation, but it will all be in the CFO's plan.
The dividend, based on future earnings per share ( a figure less than last reported due to the then accounting credits ) will add attraction. However, I continue to see the investment as first a high growth company, with the secondary benefit of an increasing dividend yield.
That is just my addition to your recent missives, with which I agree, particularly on multiple and full suite product sales, and for which I give thanks.

Kestrel are consistent with their last notification, and are probably correct. It is a sizeable cash sum. They may sell more, as I think we agree for reasons previously mentioned. The share price has been rising since their last notification, so a good time to sell, if desired, perhaps to support new opportunities. As I say often, I like to see these change hands at market price, widening the investor base with new holders at the higher price, so I regard it as positive for shareholders having regard to company progress and the wider Castleton picture.

It may prove a psychological moment for some, but that is all in time. Company progress ( or highly unlikely, in my view, the opposite ) will not be halted. All available indications are that H1 results will show marked improvement, with a progressive dividend on its way, The recent dividend announcement alone shows the board's confidence in forward visibility on increased earnings, rewarding shareholders whilst retaining sufficient cash to enable growth. As I have mentioned before, the £600,000 365 agile payments will cease soon. Final payments will have to be made, but that will have been taken into account alongside the dividend. The £600k will then drop straight to the bottom line. The CFO has thought the future through.

The June results outlook stated trading was 'comfortably' in line, with good forwarded visibility, but it is this comment, coupled with Dean Dickinson's statements in presentations of not previously bidding for contracts without referenceability from existing users that reinforces my expectations. Castleton now has that ' proven ' full suite of products.

"We have now developed a fully integrated solution, which is demonstrable and referenceable and which will enable us to bid for more new opportunities."

A list accounting for 70% plus of the share capital, with the possibility of other interested parties from the capital markets day. It is good to get a recent update from Castleton, which is as accurate as we are likely to get - something to which to back - refer should the need be felt. Should progress be made in line with expectations, one can expect most to hold for the two to three year period in respect of which there is some aspirational indication, with senior management striving for a minimum almost doubling of the share price by period end. Exceptions would likely be MXCP, who will have need of cash to further their new ambitions, and just possibly Kestrel, who may wish to follow - but they may use funds from a lesser performer.
Set against that, and with the odds of multiple to full suite product sales increasing with referenceability ( Castleton has not hitherto bid for such contracts ) the FinnCap price target, though from a house broker, seems a reasonable one.

An acquisition is known to be on the way. They do not always immediately lead to a price increase, but investors do not appear to have recognised the company's last realisation of funds to deal with that, either at the time or since, ideally in its entirety as far as MXCP is concerned.

I am pleased that MXCP shares went to smaller holders. The company continues to make positive effort to widen its professional holder base, and as part of that may have in mind further disposal of MXCP holdings.
In the meantime, mid-June information is that trading is comfortably in line with expectations, with good forward visibility of earnings.
There is every sign that the first half results will be strong.

It is a case of no news ( so far ) being good news. The greater the number of professional investors with relatively smaller holdings the better. MXCP possibly now has sufficient cash for it's next acquisition with Liberty Global. I can only guess at that. It seems probable they will sell more in due course, and once again in a single transaction. MXCP will not want a drawn out process. Those matters are irrelevant to company progress.
Castleton is progressing very satisfactorily. It has made and integrated it's acquisitions, and achieved a strong and growing customer base into which to sell it's broad and developing range of complementary products. Dean Dickinson is incentivised by his personal holding and option share price growth, and an ambitious LTIP put in place to reward senior managers. Confidence and forward visibility on cash generation is now such that there is an intention to implement a progressive dividend policy during the current year, whilst still fulfilling growth plans. It is still in the early stage of cross selling, in the UK, ROI and Australia, and in the very early stage of achieving multiple product sales, following referenceability of it's fully integrated product set. News of a further multiple product sale may not be far away. Underpinned by a model based on cumulative repeat revenue, and a stabilising cost base, the next year should show continued growth, with the share price following.

Mxcp sale is a result long term for Ctp. I hope Kestrel has not bought a single share, and that the investor base is broadened as much as possible. If they have, there will be a fairly swift RNS.

The investors presentation some time ago was to widen the shareholder base. Sellers and buyers both have a price. For one to buy and another to sell in large amounts requires agreement. I have always thought that Kestrel may be holding more than ideal, trading sometimes as they do, and MXCP may wish to realise some gain for one of their new projects. Like FinnCaps target price, results time, particularly when announcing plans for a dividend, is an opportunity to set a new base going forward. It may not be over yet but it seems to me this is the new starting price.

Interesting day. Castleton has seen revenue increase by 15%, with contribution from both Divisions. Profit after tax has multiplied by 8, but a truer reflection is the before tax figure, which if you like, is four times to the good. Debt has been paid down, and MXCP paid off. Kinetic was acquired to enable Australian growth. The exclusive IP of Strategic Modelling has been acquired from Brixx, and I read that that is another differentiator in the market. As I have mentioned before, the £600k payments for Agile mobile will stop at the end of this financial year, and they will have taken into account the final payments to dispose of that. The board has the confidence to invest in infrastructure and future software development work, and there is a clear future roadmap. Overall confidence is sufficiently high to announce the intended payment of a maiden dividend, which I did not foresee as being on the cards quite yet. It is a pleasant surprise. FinnCap has, as I thought they might, increased the target figure to £1.25. That is no surprise, taking into account the real progress, and aspiration reflected in the LTIP, which will have had to be seen as achievable both by the Board, and by the senior managers to whom it relates. The share price is resolutely stuck at the time of posting. It is my opinion that a decision has been made to consolidate at this level, and widen the investor base. We may learn more about that over succeeding days.

Some background. http://www.locateguernsey.com/guernsey-investment-fund-an-introduction/

On reading that again, it seems a little negative. That was not my intention. I agree that taking the portfolio and balance sheet into account, together with the potential provided by ongoing activities, MXCP is undervalued. It has hit the all time low, and bounced, indicating an entry point. Management are incentivised by majority share ownership , and have a track record in the sort of opportunity provided by MXLG. The GIF also plays to their strengths, and will be a reliable source of income. MXCP has been unloved, and that is why it is undervalued. I make no forecast, but take the view the price will not drop below the last low, and with diligent management and a following wind, over time may do very well indeed. I confess to thinking, it has to be worth a punt at this price to start with and see where we go.

Very stable, trading continuing at this price. Should this continue until results, I shall be content. And then we shall know more.

You raise an interesting point. These 'roll-ups' are not always entirely successful, though that has worked well with Castleton and there must have been detailed discussion with Liberty Global, who know what they want to achieve - so my assessment is it will be jointly made to measure and within perameters. Any difficulties, if they arise, are unlikely to surface until much further into the MXLG project, months/years away, and presumably resolved to LG's satisfaction. So perhaps not an immediate concern for investors - and, with respect to holders, it will be difficult to cause much more damage to this share price.

The price has held well. The investor base seems strong. As indicated in the update there will be nothing untoward. There will be confirmation of an excellent trading year, in terms of revenue and profitability, with I suspect the overall content and tone painting a favourable picture for the remainder of this financial year. It is my guess that FinnCap may take the opportunity to increase their price target, which will be necessary this financial year if sense is to be made of the non-director senior management LTIP ( RNS 22nd. March ) "The LTIP provides for the Options to vest in stages dependent on the share price growth, with full vesting being dependent on the Company's share price growing at 40% per annum over the three year period from a base price of 68 pence, being the share price at the date the Board resolved to establish the LTIP."

Recognition of what is known for this focused niche provider, and in recent times the share price is healthy. I would not be surprised to see say Kestrel trading at this level with shares being taken up widening the investor base - the intention of the November presentation. http://www.piworld.co.uk/2018/03/09/castleton-technology-ctp-investor-presentation-november-2017/ In relation to results, steady performance is already out there from the trading update giving the bones of what the financial results will say on 19th. June, with the likelihood of some increase in the top line to be reported. There will be no surprises for the year under review. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CTP&ArticleCode=rehj9efl&ArticleHeadline=Trading_Statement Kinetic aside, I do not see Castleton as being correctly described as a value added reseller, if that is indeed the inference in Channelweb's sub header of their brief coverage of the 1000 report. That may arguably be said of the Glantus tech ( which is embedded in just one solution ) and currently the mobile product ( which in fact is only available to Castleton and which will become effectively Castleton owned for social housing from April next year ) The value of the products in the UK and Ireland is in Castleton's own brands and continuing added value by in-house development, and they will be sold alongside the MYOB Greentree Kinetic solutions in Australia. The annual report will be primarily interesting for me from a post year end and outlook perspective, with all being well the bottom line picking up as time passes from cross selling and cumulative repeat revenue from it's now 780,strong customer retention, base, and the disposal this year of payments under the mobile agreement with the presently defunct 365 Agile.

Dean Dickinson is very clear that the main driver now with 600 customers is cross selling into existing, leading to take-up of the full suite. New customers are a very welcome added bonus.