Member Info for wobblywilbur

Increasingly, the majority of institutional investment managers are not permitted to invest in AIM stocks and/or any company with a market cap of sub £100m. Very frustrating for many a CEO I am sure!

RNS said '...middle of November ...' so I would think more likely next week.

I'm not sure where the figure of £55.8m raised comes from - the AP website has the figure YTD at c£30m. But even if your figure is correct with a number of the quoted deals 'shared' - in terms of fees, plus the loss of retainer fees (through the loss of their NOMAD clients), I feel sure the AP H1 numbers will not be pretty. With overheads running at c£8 pa in the last accounts and capital markets 'challenging' (in terms of raising funds) for the forseeable, the outlook for this 'new division' of Ince, doesnt look particularly rosy to me.

Theo - the final deal is the same as originally announced (ie 7 for 12). What has changed since the October announcement are the share prices. In October, pre-bid, the ARDN s/p was c20p and the INCE s/p c51p, meaning that the notional price per share being paid for ARDN would be c31p....... which in my view would have been a decent result for ARDN holders...

Cant see anything other than INCE withdrawing the offer for ARDN.
If that is the case however I assume Arden will continue as now - with NOMAD status and their clutch of corporate clients?

It looks perhaps like a new NOMAD to be appointed by INCE next week, within the 28 day deadline and then a further 28 days before they (ARDN/INCE) publish the Full Scheme of Arrangement details.

At the AGM the CEO said acquisitions of c£10m revenue were right in their sweet spot and would be paid for from cashflow but no such opportunities under consideration and no current plans to issue shares........yet less than 4 weeks later they have an agreed bid. Hmmm

I suspect that if a dividend has not been received it is likely to be an error on the part of the Registrar or the custodian of the relevant shares - unlikely to be the fault of the Company or its Broker/Nomad. I have always received my Divi's in a timely manner, including the huge 49p special divi earlier this year.
Personally I think the Company is making good progress, with a lot more to come in terms of contracts etc. which ultimately should reflect in the share price.

FWIW the house broker has a 100p price target and a 1.5p dividend for the year, in a new note published this morning.

£10m revenue would certainly be good to see. After a lack of meaningful corporate deal flow and the collapse of 'equities' revenues in recent years, the 'open' capital markets of the past 9/12 months have certainly seen a far healthier business, although overhead (c£8m) would see to still be very high for this type of business....

£100m revenue or £10m?

Re Tango Post @12.43 ...... I believe the Company has an obligation, under AIM Rule 26, to maintain an up to date list of significant shareholders (those holding more than 3%) on the corporate website and holders have an obligation to inform the Company of such holdings. Currently this list and the Total Voting Rights (by which the percentage holding is measured) is woefully out of date (last updated 22/09/2020 according to the website). Clearly it would be useful to all of us if this 'housekeeping' was undertaken!

Roly - maybe more to the point, re RNS', is that in my understanding I don't think believe the Director's should be in possession of any 'market sensitive knowledge' whilst undertaking a placing. ie they should have disclosed all in the prospectus or prior.

The timetable states today (5 May) for the result of the first placing to be announced - so not 'late' yet. However as has been said, the longer the delay the more the potential ii damage...

Looks like the 'usual' selling today into the monthly staff scheme purchase.

If you still hold these you must be pleased with the performance since October - SP increase; Dividend and now a Special Dividend!

In the presentation last week, John Wood made a point of saying they would not be updating the market on every piece of business won. Clearly they have an obligation if a particular contract is deemed 'material' or a piece of news is deemed 'price sensitive' (to the share price) but outside of that he indicated that they would update the market periodically on an ongoing basis.

With Equities revenues reported as consistently falling, it is not apparent that FM over-delivered in his 3+ years at Arden. Might it be the case that the firm actually benefits from what is likely to be a not insignificant overhead saving?

With Boris' recent visit to Appledore site it looks positive that they will be in the mix for new MoD work...