Member Info for rivaldo

I decided to sell this morning. Got rid of a lump first thing at 266.31p and the rest at just below that. It's been a great investment (around a four-bagger from memory), but I know from past experience how the price sinks before the rights issue date. In addition, current trading is lacklustre, and this deal seems expensive short/medium term if probably very remunerative in the long-term. Good luck all. I may well get back in if the price falls far enough as ETO still has a lot going for it.

...yet still only on a current year P/E of 11.6, with an almost 3% divi yield.

We have here: - new share price highs - an £11.7m cash pile against a £17m m/cap - NAV higher than the share price with almost nothing included for the value of the subsidiaries - brighter than ever prospects - and profitability - for the three core investees - and a strong start for the new and fourth investee (Impetus Automotive) Yet AFAICS not a single share was traded yesterday or today :o)) Investors are evidently happy to lose their money in resource companies, or blue sky situations, or recovery stocks with 50/50 chances of success, or....whatever. I'm torn between wanting more recognition/activity for VLE, or being happy with being so far under the radar since it allows for top ups as and when. But it would be preferable methinks to see the share price up at say 600p+....

Excellent results - 3.6p EPS in the seasonally weaker H1 alone! Cash collection looks fine, GBO are making acquisitions from the current cash pile without the bond issue even in place, there are cogent explanations for where the cash is held, etc etc. To summarise the initial analyst comment below (I assume from Canaccord): - revenues ahead of estimates by 17% - gross margins above forecasts - EBITDA of 34.2M comfortably ahead of 30.9M forecast - Free cash flow of 7.2M was up significantly on last year's 4.2M. Net cash has improved as a result to 47.4M from 40.4M as of December (though the high growth has naturally led to a cash outflow from w/cap). And "We estimate Globo trades on a 2016E EV/sales of 0.5x, EV/EBITDA of 1.0x and P/E of 3.3x". GBO should be trading at double the current share price imho.

CMS has just been tipped by John Rosier, who runs a subscriber-only investment portfolio and has a blog here: Http://johnsinvestmentchronicle.com/blog/ I think John has a bit of a following - and more importantly, the Daily Mail runs a monthly column from him on his portfolio, so CMS should get a nice push from his next column. I'm not a subscriber, but did get a free month's registration recently from an offer, coinciding with his CMS tip which seems to have been published on Friday. I won't publish the tip details yet, but he's aiming for 70p. This is an extract from his bio: "I enjoyed the first 14 years of my career at Fleming Investment Management, initially as an analyst and then as a UK portfolio manager; in 1997 I was appointed Head of UK Equities. I was a director at Henderson Global Investors from 1998 until 2004, before moving to the West End and working for two hedge funds. My investment career at Flemings and Henderson was focussed on managing UK equity portfolios for corporate and local authority final salary defined benefit pension schemes as well as the reserve fund for the NSPCC." He started his portfolio in 2012 and it seems to have done pretty well (he does publish all his transactions).

Good to see RNS'd today another eight new contract wins across the ShoWare and Siriusware solutions: Http://www.investegate.co.uk/accesso-technology--acso-/rns/new-contract-wins/201509280700532843A/ "Each of these new contracts provides another repeatable revenue stream for the Group, helping to drive the next phase of accesso's growth into 2016."

Interims are out, and they're pretty good, showing a nice £0.79m PAT (£0.37m before investment gains) and a 432p NAV: Http://www.investegate.co.uk/volvere-plc--vle-/rns/interim-results/201509280700453222A/ Some initial standouts: - each of the 4 businesses are doing even better in this H2 than they did in H1 - Shire has continued last H2's form with a pleasing profit in the seasonally weaker H1 - Impetus is only making relatively small losses already post-acquisition - JMP is making slow but definite progress, hindered this time by a couple of one-offs - Sira is progressing, if slowly, and remains profitable - VLE have almost £12m net cash against the £17m m/cap I'm guessing that VW will soon need plenty of help from Impetus in helping "the effectiveness of vehicle manufacturers' sales and after-sales networks"! One negative is a loss in value on investments in the period.

Worth noting that the last two interims announcements have both been on Mondays. This coming Monday is the last such in September. Alarm clocks at the ready?!

Chelverton Growth Trust have bought another 300,000 shares and now have 1.5m shares, or 4.32%: Http://www.investegate.co.uk/petards-group-plc/rns/holding-s--in-company/201509250927402147A/ It's noteworthy imo that this £5.2m m/cap company now has Downing and Chelverton both increasing their holdings and now owning almost 15% between them.

Up 10p yesterday and rose strongly into the close - hopefully bodes well for today.

Broker Profile Research have produced a new note post-interims: Http://d248s5njznv13y.cloudfront.net/images/pdf/InvestorRelations/Somero_Update_14092015%20(2).pdf It forecasts 12.2p EPS forecast for this year, with 13.3p EPS next year. Dividend forecasts are 5.9c and 6.5c respectively. And SOM will have $8.3m and $13.1m net cash. Considering SOM made 7.1p EPS in H1 alone I would be very surprised if they don't beat this year's forecast, and possibly by some way.

......(and good pictures!): Http://www.zytronic.co.uk/news/media/curved-touch-screens-and-rugged-touch-tables-set-the-tone-at-g2e "Curved Touch Screens and Rugged Touch Tables Set the Tone at G2E Wednesday 23rd September 2015 01:11pm Leading developer and manufacturer of advanced Projected Capacitive Technology (PCT™) touch screen solutions, Zytronic, will be demonstrating its ultra-large format multi-touch products in the form of a 55” roulette table simulators and a custom 40” curved slot machine at G2E 2015 (Booth 4111). Commenting, Ian Crosby, Sales and Marketing Director at Zytronic, said, “Casino touch screens are increasingly moving to larger sizes and more sophisticated designs with special shapes, cut-outs, printed colours and even curved forms and added functions in order to attract passing players. Reliability is critical, as revenue generation relies upon a functioning touch screen. Zytronic’s award-winning PCT projected capacitive touch sensors meet all these requirements, offering almost limitless customisation, the latest multi-touch levels of performance, and rugged, dependable design, unaffected by spills, scratches and damage.” The large concave bezel-free 40” multi-touch screen featured at G2E is user customisable and capable of detecting up to 40 simultaneous touch points. The inward curve of the concave screens allows users to (almost literally) step inside their digital experience, providing a much more immersive playing experience. Zytronic have combined it with an integrated 19” “button deck” – all on the same curved glass surface. Also on the booth will be a Zytronic touch table based on its MPCT™ Multi-touch Projected Capacitive Sensing technology capable of supporting HD and UHD displays up to 85” with up to 100 simultaneous touch points. Zytronic sensors are especially well suited for touch tables; as they combine extreme resistance to severe impact, scratches, and liquid spillages, with immunity to accidental touch by a sleeve or glass, incorporating advanced palm rejection functionality that only reacts to a finger or conductive stylus".

News - contract win, with the potential for more globally: Http://www.bradyplc.com/news/global/brookfield-renewable-energy-europe-selects-brady-cloud-solution-to-handle-its-uk-power-scheduling "Thursday, 24 September 2015 07:00 Brookfield Renewable Energy Europe selects Brady Cloud solution to handle Its UK power scheduling 24th September 2015, London:Brady plc (BRY.L), the leading supplier of trading and risk management solutions for energy, commodities and recycling, announced today that Brookfield Renewable Energy Europe has selected Brady Power Scheduling solution to manage its power scheduling activities in the UK. Brookfield Renewable Energy Group operates one of the largest publicly-traded pure-play renewable power platforms with operations across North America, Latin America and Europe, with a portfolio totalling more than 7,000 MW of installed capacity. In Europe, Brookfield Renewable’s portfolio consists of 600 MW of operating wind capacity across Ireland, the UK and Portugal, and has a project development pipeline of approximately 1,400 MW. To support its European growth ambitions, Brookfield sought a reliable, robust and agile solution that could handle the demands of entry into multiple new markets. In Brady, Brookfield found a software partner with a reputation for outstanding quality, experience and user support. The Brady Energy Scheduling Solution for power supports businesses such as Brookfield with cross-border trading and supply activities. The solution is delivered by Brady Cloud Services, and provides full provision for all TSO Connectivity Services as organisations’ connectivity requirements evolve. Brady's dedicated Cloud Services deliver the highest levels of availability and reliability as well as multi-layered (ISO27001 certified) security, providing the perfect environment for scalable enterprise wide and mission critical solutions for organisations of any size. Ruth Kent, Head of Power Marketing at Brookfield Renewable Europe, commented on the selection process: “Brady’s unique ability to handle more European markets with a single product provided us with a scalable and flexible solution for our scheduling requirements that can adapt with our business as we continue to expand in Europe” Gavin Lavelle, CEO of Brady plc, commented: “Our robust and flexible solution, is perfect for companies requiring the ability to be able to perform scheduling within and between a wide range of European markets and I am confident, that like our other customers, Brookfield will be up and running within the requested timeframe and will quickly recognise the benefits of the Brady scheduling solution”."

Online looks terrific this morning - you can only buy a max 5k shares at 73p, but you can sell at least 25k at a premium at 72.27p.

Encouraging to see a non-exec buying £25,000 of shares at 165p: Http://www.investegate.co.uk/regenersis-plc--rgs-/rns/director-pdmr-shareholding/201509240700170290A/

RNS - Artemis are increasing their stake nicely. They had 8.77m in their last disclosure, and now they have 9.189m, i.e above 16%: Http://www.investegate.co.uk/somero-enterprises--som-/rns/holding-s--in-company/201509231516389957Z/

Panmure (joint brokers) have reiterated their Buy and 270p target: Http://www.dakotafinancialnews.com/regenersis-plc-stock-rating-reaffirmed-by-panmure-gordon-rgs/449190/

New Equity Development note is out, concluding as follows: http://www.equitydevelopment.co.uk/doc/1396.pdf "Today's results showed group FY15 turnover (y/e June) at £202.6m (+2.6%, or +16.5% in constant currency), headline operating profit of £15.4m (+40%, or +52.7% CCs) and closing net cash at £7.8m. All of these outcomes were in line with our estimates, and this was despite suffering significant forex headwinds (stronger £ vs €, Polish Zloty and other EM currencies). Encouragingly too, Headline Operating Profit margins rose from 5.6% to 7.6%, as a greater proportion of profits were generated from Software and Advanced Solutions. Cash conversion improved to 75% from 41% LY in spite of opening of several new locations - while the dividend was hiked 25% to 5p/share, equivalent to a 3.6% yield and >3x covered by adjusted EPS of 16.19p. Looking ahead, both YTD trading and the outlook for the remainder of FY16 are said to be "in line with expectations" - with Blancco expanding rapidly and delivering "excellent margins in a buoyant market". FY17 should witness a significant jump in profits, as the drag from the legacy Nokia Europe contract diminishes. Most importantly, the Board also announced that it was "exploring various strategic alternatives, including the potential sale" (or perhaps even spin off) of its Depot Solutions, set-top-box diagnostics and DigitalCare (handset screen insurance) operations - under the umbrella of a new Repair services organisation, headed by CEO Ian Powell. This will help focus attention on Blancco, Regenersis' unique 'data erasure' division. It is the undisputed world leader in this field (>7x bigger than closest rival) which reported: FY15 turnover of £15.0m up 30% (or +40.9% LFL in constant currency), adjusted EBITA of £5.4m and margins of 36%. On its own, we think the software division is worth 166p per diluted share, or more than the market capitalisation of the entire group; based on a 6x FY16 sales multiple for the enlarged software arm (ie including today's $12m acquisition of US rival Tabernus), along with adding another $4.9m for RGS' 49% stake in mobile diagnostics firm Xcaliber. This is conservatively pitched towards the bottom end of cyber security peers, which trade on an average of 8.4x revenues. Adopting a similar cautious view with regards to our sum-of-the-parts (SOTP), and valuing the Repairs unit at £71.4m, we still reach a revised target price for the whole group of 232p per diluted share, which is 66% above yesterday's level."

....and the article doesn't even take into account at all the $43m cash pile, which reduces the ex-cash P/E well into single figures. With forecast EPS rising to 7.39p for next year given the organic growth and acquisitions, the ex-cash P/E probably falls to only around 7 or so....... Here's the article: http://www.investorschronicle.co.uk/2015/09/22/tips-and-ideas/share-tips/xlmedia-doubles-down-on-growth-ScszAU0PSCrlz0sWc2y0AO/article.html "Fierce competition for players has driven online gambling operators to XLMedia (XLM), which directs traffic to operators' websites in return for a cut of the house's winnings. Combined with acquisitions and technology investments, that fuelled a 118 per cent rise in the digital marketer's first-half adjusted operating profits to $11m (£7.1m). Investors bid its shares up 4 per cent on the news. Strong demand for performance-based digital advertising campaigns, coupled with acquisitions, underpinned a more than doubling of gross profits to $6.2m in the media buying segment. Further growth could stem from Marmar Media, a web and mobile marketer acquired after the period ended. Publishing revenues and profits also soared as improved technology and new mobile and social tools drove gamblers to XLMedia's 2,000-plus websites. The group's increased focus on media buying poses a threat to gross margins, while integration costs, a recruitment drive and increased spending on research and technology may weigh on second-half earnings growth. Nonetheless, management expects to hit full-year targets. Broker Cenkos forecasts full-year pre-tax profits of $22m, giving EPS of 9.1¢, rising to $27.8m and 11.5¢ in 2016 (from $14.9m and 6.4¢ in 2014). XLMEDIA (XLM) ORD PRICE: 72.5p MARKET VALUE: £145m TOUCH: 72-73p 12-MONTH HIGH: 77p LOW: 34p DIVIDEND YIELD: 3.7% PE RATIO: 11 NET ASSET VALUE: 42¢* NET CASH: $43.2m Half-year to 30 Jun Turnover ($m) Pre-tax profit ($m) Earnings per share (¢) Dividend per share (¢) 2014† 19.9 4.6 2.0 1.58 2015 36.8 13.2 6.0 2.595 % change +85 +186 +200 +64 Ex-div: 1 Oct Payment: 30 Oct *Includes intangible assets of $42.7m, or 21¢ a share †XLMedia floated in March 2014 £1=$1.55 IC VIEW: Shares in XLMedia have risen 15 per cent since our buy tip (63p, 28 Aug 2014), yet still trade on just 12 times forecast EPS for 2015. As the group is flush with cash, growing quickly and offers exposure to the mushrooming online gambling market, that looks an unwarranted discount to peers. The dividends are also generous. Buy."

Good to see Matthew Peacock/Hanover buying another £294,000 of RGS shares - they now have 6.9%: http://www.investegate.co.uk/regenersis-plc--rgs-/rns/director-pdmr-shareholding/201509230700238807Z/