Member Info for surprised

https://twitter.com/surprised_trade/status/1421967293614104578

Square will buy Australia’s Afterpay for about $29 billion in an all-stock deal as the U.S. fintech firm looks to leverage the burgeoning popularity of buy now, pay later credit options.
Afterpay shareholders will get 0.375 shares of Square class A stock for every share they own, implying a price of about A$126.21 per share based on Square’s Friday close, the companies said.
The offer is a more than 30% premium to Afterpay’s last close

The deal will create an online payments powerhouse and help accelerate Afterpay’s growth in the key United States market as well as globally, the companies said on Monday.

Afterpay has been the bellwether of the niche online payments sector which burst into the mainstream last year as more people chose to pay in installments for everyday items during the pandemic.

“Square and Afterpay have a shared purpose ... Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers,” Square chief executive Jack Dorsey said.

great spot too 29palms ....

https://www.h2-view.com/story/hydrogen-ready-boilers-will-cost-no-more-than-natural-gas-variants-confirms-the-uks-four-largest-boiler-manufacturers/

Hydrogen-ready boilers will cost no more than natural gas variants, confirms the UK’s four largest boiler manufacturers

https://twitter.com/surprised_trade/status/1420842999878144002

Marlowe have bid 530p so far, all set for a higher bid if they want it, closer to 600p will be tempting....

https://media.jaguarlandrover.com/news/2021/06/jaguar-land-rover-develop-hydrogen-powered-defender-fuel-cell-prototype

https://twitter.com/surprised_trade/status/1420353327121027072

Foreign travel opening earlier will be an added bonus to the bottom line, no co-incidence iii took 10% holding on 13.07.21

here's a snippet from the other broker's report 10th June for anyne interested , with a fair value assessment of 16p -

''Management reports further growth in the sales order book (+127%) from new and former Murata customers and there have been multiple contract announcements year to date. Meanwhile the capacity and yield of supercapacitor production continues to improve at the new Seven Hills facility. CAP-XX has a dual strategy of product manufacturing and IP licensing and it continues to pursue its litigation against Maxwell Technologies (Tesla) and is progressing other licensing and patent infringement actions.''......'

With the increased capital expenditure on the new Seven Hills manufacturing facility, we expect year end cash of c. A$0.6m with an R&D tax rebate of A$2.6m due in H1 FY22. This, plus reducing losses, means CAP-XX should remain comfortably funded.

''.....design wins, plus the success of migrating existing Murata customers (c. 75% by value expected), provide multi-year revenue opportunities and demonstrate real commercial traction. The sales order book is currently up 127% on the end of FY20. ''
'...'....... nudging up our FY21 forecasts and introduce a fair value of 16.5p/share, equivalent to 12x FY23 EV/revenue'

part of Cenkos note issued in May, when mcap was £40m+ ..a bit more 'sum of the parts valuation' for anyone interested.....

''CAP-XX got an extraordinary deal buying the production assets for A$600k as Murata had no other option than to sell the assets due to CAP-XX’s IP and could not afford to upset its large customer by just closing the business. The deal effectively makes CAP-XX a monopoly supplier in small thin prismatic supercapacitors and the conversion of Murata customers to CAP-XX should be transformational for CAP-XX.

Sufficient cash to profitability with buffer..
CAP-XX has no debt and following the receipt of a A$3.1m R&D rebate in January 2021, we believe it has sufficient cash headroom to reach profitability on our expectations with some buffer should the conversion of Murata customers be slower than anticipated. Valuation of 15p per share Despite a long history CAP-XX has not yet reached sustained profitability; however, we believe that the acquisition of the Murata assets completely changes the dynamic and is a clear catalyst for a step change in revenue growth and reaching sustained profitability.

We believe the valuation continues to reflect investor fatigue, a lack of understanding of the transformational nature of the Murata translation and the higher burden of proof required for this. We believe this means the current valuation presents an attractive opportunity for the company with highly valuable IP in the energy storage space. Specifically for an energy storage technology company with unique IP, proven technology, growing sales, and in our view a visible funded path through to financial self-sufficiency, a £41m market capitalisation is not expensive by UK stock market standards, with many technology comparables trading around £100m on the promise of their technology and IP.

At a 13% cost of capital, our DCF implies a valuation of 15p/share which would be well supported. We believe this demonstrates the attractiveness of the opportunity, with the potential for this to increase significantly as confidence in its path to profitability increases and the perceived risk weighting to our Beta assumption declines further. We note that our valuation leaves upside from more licensees, including a potential result against Maxwell/Tesla, greater long term market share than 5%, as well as the potential for greater growth in supercapacitor demand from IOT than assumed in the IDTechEx forecasts we reference. We initiate with a Buy recommendation at a 15p/share DCF based valuation.

£26m mcap on current 6p price, is that at a disconnect to the business ?
It appears so to me when looking at the business, I see the broker notes produced in last couple of months, a clear sum of parts 15p+ target on current knowns, not including any IP infringement wins/cash etc....order book full and increasing, new business lining up with recent rns reach's, production line nearing capacity and new markets being broken into.
The transformational deal in securing the Murata line has allowed CPX to have positioned themselves nicely and they can now see a clear path to profitability.....the largest gains are clearly from the lows in an 'unloved' or over looked stock that the market has not fully appreciated, a stock that has potential to grow and where the sp is at a disconnect to the actual business .....

it also bounce back -)

technically (the witchcraft bit) weekly at 35 rsi, daily just 17 !!....this is now on a daily oversold by some margin and is as near as dammit into weekly oversold.....there's more upside than down so it's just £26 mcap currently with the techs suggesting at or close to lows :-)

this one works, history suggests the lows offer opportunity, picking the lows is the hard part, however CPX now at £26m mcap...

https://twitter.com/surprised_trade/status/1420039416677027841

https://twitter.com/surprised_trade/status/1420038774688522241
:-)

https://twitter.com/surprised_trade/status/1419910642954391598

IC highlighting KAPE today ...

Kape’s buying opportunity ahead of results

Trading in line with guidance that indicates doubling of full-year operating and pre-tax profit to US$70.8m and US$64.3m, respectively.
Integration of Webselenese ‘progressing well’ and average customer acquisition costs reduced.
Core privacy division recorded 17 per cent revenue growth in first half.

Cyber security software provider Kape Technologies (KAPE: 303p) continues to increase its customer base, cross-sell products, integrate acquisitions and enter into new lucrative revenue generating agreements.

Kape is being valued on 10.5 times 2022 operating profit estimates to enterprise valuation, or almost half the forward rating of Avast. Kape also offers an attractive 9 per cent free cash flow yield for 2022.

I remain a buyer ahead of September’s interim results. Buy.

there is indeed a lot to like...

https://twitter.com/surprised_trade/status/1419903986447044608

profit before tax up 56%, £71.1 million net of cash, Revenue of £106.1 million, up 19%, reinstated with interim dividend of 2.5p

Restore will announce its half year results on 27 July 2021.
In its Trading Update announced on 5 July 2021, Restore reported that trading continued to strengthen through the first half, with second quarter performance ahead of the Board's previous expectations.

This positive trend is evident across all of Restore's business units In addition, as a result of the strong first half performance and continued confidence in the Company's outlook, the Board confirmed its intention to reinstate its progressive dividend and pay an interim dividend in respect of the current financial year ending 31 December 2021.

The level of the interim dividend will be announced at Restore's half year results.

likely now Marlowe have gone public a higher offer will arrive at some point....game on ...

https://twitter.com/surprised_trade/status/1419571055753113601

.interesting few weeks ahead as Marlowe seek to bid for RST, 530p rejected last week, how high will they go.....

:-)

https://twitter.com/surprised_trade/status/1419555228471500801

https://twitter.com/surprised_trade/status/1418426869775577089

The Times ....
Marlowe breaks cover after rival Restore rejects its takeover bids