The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Results are in part quite reasonable … but presented without keenness, enthusiasm or drive
Interims out
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The formal sale process which we announced on 24 July 2019 remains ongoing. The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019.
https://www.expatnetwork.com/wood-group-wins-six-year-deal-with-saudi-aramco/
Extract
Wood Group wins six-year deal with Saudi Aramco
Extract
"Wood Group has been awarded an offshore maintain potential programme contract by Saudi Aramco for greenfield and brownfield engineering services, procurement, and construction management support for new facilities in the Arabian Gulf.
The six-year contract, which includes options for two three-year renewals, includes the establishment of an offshore engineering centre of excellence in Al Khobar, Saudi Arabia, the company said in the press release."
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Source Posted on June 18, 2015
Following recent drone attack the opportunities exist for more works and WG have teams already working on the area
Market reaction to the “For Sale” for the period this year before and after has been:-
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Prices have steadied in narrower and higher range
__________Open___High__Low___Close
Pre Sale__1,450__1676__630___760
For_Sale____760__1377__725___912
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Whilst Daily Trading Volumes have been reduced
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Stats____Pre_Sale___For_Sale____Change
Q3_______203,098_____82,188_____(60%)
Median____97,421_____35,318_____(64%)
Q1________47,693_____18,417_____(61%)
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Keep Calm and await events has been the routine in the 37 Trading days since 24th July. The big question is what will happen in the next 2 days before and on the day of the Interims 18th Sep 2019 ???
Interim on first reading looks good, quick synopsis
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Revenue up from $388.6m to $425.4m
Operating profit up from $109.7m to $161.9m, fully diluted EPS at $0.11.
High levels of profitability with Adjusted EBITDA margin at 55.4%.
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Dividend 4,4 cents XD 12 Sept Paid 11 Oct 2019
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“Important strategic milestone in first half of 2019 … release of direct-to-consumer and carrier-based IoT solutions ( products will protect users' entire digital lives) .
Expect like-for-like FY2019 revenue growth at the upper end of stated high single-digit percent range."
Closing Price set at Closing Auction
Date Time 16:35:21 30-Jul-2019 1,110.00 shares 124 for £1,376 an Uncrossing Trade
BUT
Best trade of the day was
Date Time 14:31:07 30-Jul-2019 1,060.00 shares 10,000 for £106,000
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Day Closed at a PRICE NOT achieved in any of the 36 trades in the day which is unusual
Pretty Fancy Strong Tip from Seeking Alpha
Published an hour ago
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https://seekingalpha.com/article/4275973-tremor-international-bad-news-overstressed-company-aggressively-repurchasing-shares
Conspiracy theory suggests that it is a build up of an large investment rather than a trading position. Information for the OTC side is Kazak based foreign nationals. Canadians or similar who are connected to Calgary based company associated with Smart engineering report is one idea. Another is Korea who have nationals working for CASP, working in the area, working for Korean investors, or even those in targeted refinery. Those are just two ideas.
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If it is an investment position it would be less volatile than a traders position. Adding stability and support to the share price. Hopefully if based on local expats it could add a knowledgeable holding with a partner in UK.
A conspiracy theory is brewing. IMHO We seem to have a tandem pair of traders ???:-
___One with LRGS status on AIM market with delayed trades
Second with TNCP status on Over the Counter market (possibly overseas buyer)
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Trade Timings are within minutes of each other, matched lot sizes (500,000), and matched prices both today and on 4th July.
Combined holding some 4 million (I million on 4th and 3 million on 9th) if correct ???
Possible that trades on 4th July were Buys
Possible that trades on 9th July were Sells giving £1,250 profit ???
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more 500k trades today
13:33:40 09-Jul-2019 11.75 __500,000 £_58,750 LRGS
13:36:09 09-Jul-2019 11.75 __500,000 £_58,750 TNCP
14:15:24 09-Jul-2019 11.30 2,850,000 £322,050
Trading lot sizes of over 500k are rare birds, and not necessary all buys. Evidence is just that someone with deep pockets has an interest in CASP
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I noted 1 in May and 5 in Jun. Recently in July both days have an interesting combination:-
Last Week on 4th July
15:36:26 04-Jul-2019 11.50 500,000 £57,500 LRGS
16:07:15 04-Jul-2019 11.50 500,000 £57,500 TNCP
16:07:15 04-Jul-2019 11.38 800,000 £91,000 TNCP
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This Week on 9th July TODAY
09:11:43 09-Jul-2019 11.75 500,000 £58,750 LRGS
09:16:14 09-Jul-2019 11.75 500,000 £58,750 TNCP
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Notes
LRGS are delayed trades; TNCP Non Price Contribution to Discovery Indicators. For scale; Median Daily volume Post merger is just under 500k but post 9th May is just over 2,1million
Currency rate is 6.8p dividend per ordinary share ifor the financial year ended 31 December 2018 to be paid on 17 June 2019 to those who were registered at the close of business on 24 May 2019.
On first reading they are looking good
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Dividend 2.99p (LY 2.65p) Xd 18Jul Pd 23 Aug
FWIW_____________ Buyback status is, by my count :=
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Original allocation for Buy Back was $15 m or say £11,649,000
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Phase____________Shares____Avg_Price Est_Value
Upto 23rd Mar____852,575____180.38____£1,537,885
On 24th Mar______944,767____140.00____£1,322,674
On 25th Mar____4,798,964____140.00____£6,718,550
Onwards to date_758,798____137.77____£1,045,407
=================================================
Total_________7,355,104____144.45___£10,624,516
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Following 25th March the Company quoted available £1,900,000
which leaves £854,592.80 less costs available. But figures for 31st May are not yet available.
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At current rate buy back could continue for 10 to 12 trading days or alternatively until AGM on 13th June ???
Now EX dividend as hidden in the AGM results RNS of 23rd May
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" a dividend of 8.6 US Cents per ordinary share in the Company for the financial year ended 31 December 2018 will be paid on 17 June 2019 to those shareholders registered at the close of business on 24 May 2019. "
Probable Seller. Sector Omega AS a Oslo based Norwegian company which held some 39 million shares.
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Norwegian Wealth Fund is required to sell out of fossil fuels. I suspect other holding companies in Norway may be doing the same. Sector Omega has held for some time so has good connections and suitable sized holding.
Once upon a time, in the long ago and far away
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Date______ Open__ _High ___Low _Close ___Volume ____Notes
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08/07/2014 _4.000 _4.000 _4.000 _4.000 ___109,308
09/07/2014 _4.375 10.375 _4.375 _8.250 57,931,623 Drill Up BNZ
10/07/2014 _8.250 _8.750 _6.750 _7.750 10,858,991
11/07/2014 _8.250 _9.075 _7.625 _8.625 14,296,554 Drill Up GAZ
14/07/2014 _8.625 _8.625 _7.375 _7.500 _6,292,433
15/07/2014 _7.500 _9.750 _7.375 _9.750 17,084,627
….
01/09/2014 24.500 25.250 21.125 21.250 18,235,506 Drill Up subsequent Hi
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Past Performance is no guide … Make of it what you will
By my calculation the Buyback program looked like this
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_____________Shares_______Est Cost
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Upto 23rd____852,575 _____£1,537,885 on the market avg price 180.38 ex dealing costs
On 24th____4,798,964 _____£6,718,550 on the market avg price 140p ex dealing costs
On 25th______944,767 _____£1,322,674 from Secondary placing @ 140p
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Total______6,596,306______£9,579,108
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Original funds allocated £11,649,000... Forex on $15 million
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Potential for future______£2,069,892 … also to cover dealing costs
_____company quotes_______£1.9 million for Existing Share Buy Back expires 30 Sep 2019
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Errors and Omission excepted
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FWIW ... Taptica qualities are noted and pass tests in the following publications
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Philip Fisher Growth Screen… (in Growth Investing).
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Neglected Firms Screen (in Value Investing).]
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Benjamin Graham Defensive Investor… (in Bargain Stocks)
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R&D Breakthroughs Screen… (in Quality Investing).
The Screen of Screens (in Quality Investing).
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Free Cash Flow Cows Screen (in Bargain Stocks).
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Source: 20Apr19 Stockopedia,com