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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Retec | LSE:RET | London | Ordinary Share | GB00B05KXB62 | ORD 0.5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.35 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 0.35 | GBX |
Retec (RET) Share Charts1 Year Retec Chart |
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1 Month Retec Chart |
Intraday Retec Chart |
| Date | Time | Title | Posts |
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| 22/12/2010 | 12:14 | Retec Digital PLC | 307 |
| 09/1/2008 | 09:50 | 2008 Retailer going bust / getting taking over predictions | 3 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 22/12/2010 12:14 by timbo003 I decided not do either of the offers.Looking at the management incentive scheme, it looks like they are aiming for a trade sale at around £1,500K per share, that equates to circa 7.5p per share in old money, taking into account the recent share consolidation. That will do for me, most of my shares qualify for EIS tax relief (no capital gains), and my average purchase price is around 2p (in old money). |
Posted at 25/11/2010 16:51 by timbo003 Nice trading update came through on e-mail today "Business update for Retec Digital to 30 September 2010"I'm still pondering whether to participate in the loan note offer and/or the share offer. |
Posted at 19/11/2010 06:18 by timbo003 To answer the EIS question in my previous post, I opted to e-mail the company.See correspondence below I think I will probably do a small top up, it feels like that a profitable exit is around the corner #################### Question: Hi Charles Quick question: What would happen if an investor subscribed to new shares under the offer, then claimed the EIS 20% income tax relief and then the company were bought out within 3 years (which seems a possibility), would the investor retain the 20% income tax relief, or would it have to go back to HMRC? Many thanks Kind regards Tim #################### Answer: Tim If the shares are sold within 3 years of issue for a price equating to no less than the subscription amount, yes income tax relief (and CGT exemption) is withdrawn and the investor would have to pay back 100% of the income tax credit. However, I would hope we are all happy at that point! If sold for less than the subscription amount the income tax relief is proportionately withdrawn with partial repayment of income tax credit kind regards Charles |
Posted at 18/11/2010 03:10 by timbo003 Yes, interesting developments.* there is also a loan note offer too with warrants attached (1 warrant for every £2K of loan notes subscribed for), the warrants exercise price being £500. * the new shares on offer will qualify for EIS tax relief, but if the company were to be bought out (which is obviously the intention) within 3 years, would subscribers be able to retain the 20% income tax relief? * There almost 3.6 million (old) ords cancelled in the share consolidation, equivalent to about 1,800 new ords, and given that there only 8,132 new ords currently issued, this cancellation has effectively boosted the NAV per share by over 20%, it also indicates that there must have been an awful lot of shareholders on the register who held less than 20K old shares who did not take advantage of the last top up offer to take them up to 20K or multiples of 20K old shares |
Posted at 17/11/2010 10:51 by 25october1969 Email from broker this morning saying:Hi, received details of this offer in our post: Retec Digital Open Offer: GBP 500.00 per open offer share; and/or 7.5% Loan Notes (with warrants). Anyone got any further details on this? |
Posted at 23/1/2009 07:45 by masurenguy Proposed De-Listing from AIM (Retec)Retec Digital PLC Proposed delisting from AIM of the London Stock Exchange The Company today announces that it is proposing to cancel the admission to trading on AIM of its Ordinary Shares. Reasons for the De-Listing The Directors have been considering for some time the merits or otherwise of the Company's Ordinary Shares continuing to trade on AIM. The following factors were taken into account during their review: * the Group has grown organically and from targeted acquisitions during the last three years and yet the market capitalisation of the Company is lower than when it came to market in September 2006; * Retec Digital, like most other small listed companies, suffers from a lack of liquidity for its shares and, in practical terms, a small free float and market capitalisation, which reduces demand. This low liquidity is coupled with the high costs associated with our listing on AIM (approximately GBP 150,000 per annum); * the current economic turmoil has led to significant falls in the values of global stock markets, from which Retec Digital is not immune. The stock market tends to operate on a short term investment horizon which has little basis in the underlying fundamentals of a business such as Retec Digital. The susceptibility of the share price to the wider general equity market conditions is not to the benefit of the business and in particular hampers the Group's ability to raise funds and continue its targeted acquisition strategy; and * in the opinion of the Directors, the most likely exit route for Shareholders will be via a trade sale within the next two to three years as the visibility of the business grows amongst potential acquirers. The Directors believe that the proceeds from a potential trade sale will be maximised without reference to an underperforming share price. The Directors strongly believe that for the reasons referred to above, the Company should seek the cancellation of the admission of its Ordinary Shares to trading on AIM. Current trading On 28 October 2008, the Group announced its preliminary results for the year ended 30 June 2008 which were prepared in accordance with the International Financial Reporting Standards. On this basis, the Group showed an operating profit from continuing activities before amortisation of intangibles and share based payments of GBP22,000 (2007: loss of GBP424,000) and an overall loss of GBP 288,000 compared to a loss of GBP996,000 in the previous year. Turnover for the Group was up from GBP4.1 million in 2007 to GBP6.2 million in 2008 as the business continued to expand both organically and through further execution of the Group's targeted acquisition strategy. As the financial year ending 30 June 2009 has progressed, the rate of organic growth of the Group has slowed. The Directors believe the slow down is attributable to the impact of the well documented recession within the United Kingdom and its effects on the retail sector in particular. However, in response to the economic environment, the Group has sought targeted acquisitions that can be integrated easily with the Group's existing capabilities and in some cases adding new recurring revenue streams. The Group has also sought to reduce overheads, including the saving arising from the De-Listing. Given changes already implemented within the Group, the Directors remain cautiously optimistic about the next 12 to 18 months. Strategy The principal business of the Company remains the provision of innovative customer communication solutions and self service devices for consumers in a retail environment. The Group is aimed at building a business capable of servicing the communication, marketing and fulfilment needs of its customers, whether in designing or creating new applications, or in building and maintaining the physical installations in a customer location. To achieve this, the Board has sought growth both organically and by targeted acquisition. The acquisitions made by the Company to date include a maintenance and installation business, Media 4 UK Limited, a multi-media creative business, Liquid Digital Limited ("Liquid"), a design-led communications agency, ODD London Limited ("ODD"), and a contract to supply photo booths to Wm Morrison Supermarkets plc. The Directors believe that all of these acquired services and capabilities are key components in being able to deliver a turn-key service and not only do these businesses bring capabilities but also access to new retailers and leading brands. To date the Group has been focussed on serving leading retail customers within the United Kingdom including Sainsbury's, Tesco, Wm Morrison, Argos and Boots. The Directors believe however, that the Group's products and services are applicable to a wide variety of major industries and across international boundaries. Following the De-Listing, it is the intention of the Board to continue to operate the Group's business in the same manner, and with the same objectives and strategy, as at present. The Directors intend however to seek to sell the Group via a trade sale within the next two to three years post the De-Listing to realise value for Shareholders, as in the opinion of the Directors this is the most likely way for Shareholders to maximise value in the medium term. De-Listing Rule 41 of the AIM Rules requires an AIM company which wishes the London Stock Exchange to cancel admission of its Ordinary Shares to trading on AIM to notify such intended cancellation and separately inform the London Stock Exchange of its preferred cancellation date at least twenty business days prior to such date. The cancellation is conditional upon the consent of not less than 75 per cent. of votes cast by Shareholders given at the EGM. The Notice of EGM contains a special resolution which proposes that the Company's admission to trading on AIM is cancelled. Subject to the requisite Shareholder approval, the De-Listing is expected to be effective from 7.00 am on 23 February 2009. Following the De-Listing The Directors are aware that Shareholders may still wish to acquire or dispose of Ordinary Shares. The Directors intend to make available a new matched bargain service via J P Jenkins Limited, a trading division of IAF Securities Limited. Further details of this and other matters affecting Shareholders will be made available by the Company on the Company's website at www.retecdigital.com and directly by letter or e-mail where appropriate. Shareholders should note that following the De-Listing the Company will remain subject to the provisions of The City Code on Takeovers and Mergers, on the basis set out in those provisions. Extraordinary General Meeting An Extraordinary General Meeting is being convened to be held at the offices of Edwin Coe LLP, 2 Stone Buildings, Lincoln's Inn, London WC2A 3TH, on 10 February 2009 at 11.00 am, at which a resolution which seeks Shareholder approval for the cancellation of the admission to trading on AIM will be proposed. To be effective the resolution must be passed on a show of hands or on a poll by at least 75 per cent. of those Shareholders present in person or (being a corporation) present by a duly authorised representative or by proxy and voting at the Extraordinary General Meeting. If this resolution is passed by Shareholders at the EGM then it is anticipated that the cancellation of the admission to trading on AIM of the Ordinary Shares will become effective from 7.00 am on 23 February 2009. Circular A circular has today been posted to Shareholders with a Notice of Extraordinary General Meeting to approve the De-listing. |
Posted at 02/9/2008 08:44 by masurenguy Interesting to note that 95% of the consideration is in shares that is based upon a projected valuation of 5p. At the current market price of 1.875p the shares are actually valued at £93,750 or just 37.5% of the assigned valuation of 5p. The convertible loan potentially underwrites this on the basis that it can be converted into shares prior to September 2010 at the share price ruling at the time but presumably with a cap of 5p. Looks like an interesting and synergetic deal without a major drain on cash upfront ! .................... Press Release 2 September 2008 RETEC DIGITAL PLC Acquisition of ODD London Limited Retec Digital Plc, the multi-channel marketing services company and one of the UK's largest provider of guided selling solutions which counts Tesco, Asda and Sainsbury's amongst its clients, is pleased to announce that it has acquired the entire share capital of ODD London Limited ("ODD"), a specialist design and marketing agency. Retec Digital is paying a consideration of £540,000 satisfied by the issue of 5,000,000 shares priced at 5p, £260,000 as a convertible loan repayable by September 2010 and a further £30,000 in cash. ODD is a design-led communications agency whose client list includes Kickers, Kiss, New Look, Nike, Sony and Westfield. It has a multi-disciplinary offering, which ranges from product design to fully integrated marketing campaigns. In the year to 31 December 2007, ODD had an unaudited turnover of £2,206,000 and profit before tax of £54,000. Its unaudited gross assets at 31 December 2007 were £667,000. The acquisition of ODD will provide Retec with several opportunities for growth resulting from the extension of the Group's product offering, which will significantly enhance Retec's range of capabilities and the acquisition of ODD's client list. Application has been made to the London Stock Exchange for the 5,000,000 new ordinary shares to be admitted to trading on AIM. It is expected that admission of the new ordinary shares will become effective on AIM and that dealings will commence at 8.00 am on 4 September 2008. The new ordinary shares will, when issued and fully paid, rank pari passu in all respects with the existing ordinary shares of the Company and will be issued subject to the memorandum and articles of association of Retec. Following this allotment, the total issued share capital of the Company will increase to 164,324,664 ordinary shares. John Cole, CEO of Retec, stated: "We are delighted with the acquisition of ODD, which will complement our purchase of Liquid Digital earlier this year and further consolidates Retec's strong position in the digital media market. The ODD creative team brings with it an impressive client base and significantly extends Retec's range of capabilities in the fields of brand marketing, advertising and kiosk design." Nick Stickland and Simon Glover, joint Managing Directors of ODD, commented: "We are very happy to be joining forces with Retec. We have worked together on a number of successful projects to date and this acquisition will allow us to further develop our digital expertise and accelerate growth for both ODD and the rest of the Retec Group" |
Posted at 11/6/2008 13:28 by masurenguy Good spot timbo003 - worth posting for easy reference. I note that this was originally written by Tom Bulford for The Penny Sleuth..................... The hi-tech kiosk promising vintage returns By Tom Bulford for The Penny Sleuth 11.06.2008 The other day I had to endure the agony of buying a pair of shoes for my son. As usual the store was overcrowded and untidy and what few staff there were just stood about watching as we attempted to find the right style and the right size. It drives me mad but is the penalty we have to pay for being able to buy goods at low prices. This 'pile it high, sell it cheap' formula has been a successful one for many a retailer, but it does have its limitations. Take wine for example. I don't know much about wine, so when I am in the supermarket I just look for a wine that is the right colour, the right price, and yes, I admit it! has a nice label. But the supermarket, and no doubt the producer of the wine, would like me to be a bit more sophisticated than this. They would like me to trade up, and spend more. How can they achieve this? One way would be to train an army of experts, and have them linger in the wine department of each store. This is not going to happen. Supermarkets do not train staff, because they have no expectation of keeping them. But what they can do is to copy the on-line wine retailers. They can make information available on a screen. We are, after all, becoming more familiar with screens. We all use an ATM, we buy train tickets from the automatic machines, and at the airport we check ourselves in at the kiosk rather than stand in a long queue. So retailers now have the idea that information on wine, for example, can be made available on a touch screen placed on a small stand in the wine department. There you can learn which full-bodied red would suit your barbecue, or which dry white would wash down a nice Dover sole. But all the time, of course, the aim of the retailer is to steer you in the direction of a more expensive wine than you otherwise would have bought. These touch screens will soon be introduced into the wine departments of certain supermarkets and they will have been supplied by Retec Digital (RET), a small AIM-listed company valued at just over £4m. Last week I met Retec's founder John Cole and finance director Charles Mckay and they told me that, although they were seeing some hesitancy in the current climate, they had an excellent pipeline of new business and felt that Retec's digital display units were finally making a breakthrough in an industry that has been much hyped. For the last few years a number of small players in this industry have been spouting the same mantra. That more advertising will be devoted to the 'in-store environment' because this is where 75% of purchasing decisions are made and that digital message boards are far superior to paper posters because they can be changed at short notice, programmed remotely and can offer sound, music and action rather than just a static image. By hanging large screens from the ceiling or placing them on the actual supermarket shelves shoppers can be guided around the store and given irresistible urges to grab products and thrust them into their trolleys. With supermarkets more than adept at ensuring that others pay for such experimental investments much money has been lost in this area, and shares such as Mediazest (MDZ), Avanti Screenmedia (ASG) and Screen FX (VMG) have cost investors plenty. Most of these pioneers failed because of the difficulty of proving a link between the screen image and subsequent purchasing behaviour. So the crucial attraction of Retec's product is that its use can be clearly linked to higher sales. This is partly because these information terminals, or 'kiosks', can do more than just provide information to the customer and check the availability of items in store. By having the customer present his loyalty card, the retailer can capture his or her identity and by incorporating chip and pin systems, shoppers can actually make a purchase at the kiosk. So big retailers seem to be finally acknowledging the advantages of such terminals and Retec's customers include Tesco, Sainsbury, Argos and Boots, to which it either sells directly or through a partnership with IBM. And it is an example from Sainsbury that really proves the worth of Retec's proposition. Retec supplied the supermarket giant with its 'Entertainment Xtra' display stands. These stands display DVDs and, through a number of screens, enable shoppers to watch a brief preview. For Sainsbury and Retec the deal works something like this. Sainsbury pays for the Entertainment Xtra unit but it then quickly recoups its investment by selling display and advertising space to the DVD suppliers. Retec then makes its money through a service contract, the main element of which is to provide the screen content which is devised at its office in Lutterworth. The result is that Entertainment Xtra has boosted Sainsbury's sales of DVDs by 24%, making its investment very well worthwhile. So Retec is going strong, and in its latest half-year delivered to its customers over 2,500 units, which will underwrite its service-based income in the future. Market forecasts suggest that it will achieve earnings per share of 0.3p this year, rising to 0.7p in 2009, putting the shares on a 2009 PE ratio of just under four. Retec is a minnow in a stock market that is currently turning a blind eye to micro-caps. But with big retailers finally convinced of the merits of digital, in-store display units and now thinking of rolling them out to other departments such as electrical goods and DIY, Retec could be the company in this hitherto disappointing sector that finally achieves stock market success. |
Posted at 27/2/2008 08:12 by masurenguy Retec Digital Plc, the Guided Selling specialist, is pleased to announce its interim results for the 6 months to 31 December 2007. Retec has made significant progress in developing its business during the period, with strong revenue growth based on demonstrated success with both new and existing customers and products.Highlights: * Turnover up 166% to £3.5m (2007: £1.3m) * Trading losses after tax more than halved to £322,000 (2007: £699,000). * Loss per share reduced by 61% to 0.26p (2007: 0.67p). * The number of Entertainment Xtra stores has increased to 187 Sainsbury's stores and 49 Tesco stores around the UK, and a new trial is under way with ASDA. * Delivered over 2,500 Retec units to stores during the period, including for Alliance Boots Advantage Card and Argos. * New trials are under way for Retec's Electrical product selector in Tesco. Chairman, Sir Brian Ivory stated: 'The Board continues to look to develop the business substantially both through organic growth and via acquisition. Our focus remains on developing our offering in the retail sector, both with the retailers themselves and with manufacturers. Retec intends to continue expanding upon the contracts already in place, and to work closely with its business partners, in developing new prospects. As a result of the progress made in the first six months of the financial year, and the clear opportunities which now exist for Retec, the Board looks to the future with confidence.' I am pleased to be able to report on a record half year result for Retec. Retec has made further significant progress in developing its business during the period and is approaching profitability before the effects of amortisation are taken into account.Turnover was £3,544,000 which compares with three and a half months trading in the prior year following the acquisition of Retec Interface Limited in September 2006. Gross profit was £814,000 (2006: £139,000) and the loss after taxation was £322,000 (2006: £699,000). This growth is mainly due to the continued roll-out of Entertainment Xtra and, via IBM UK Limited, work from Alliance Boots and Argos. The basic loss per share per share was 0.26 pence (2006: 0.67 pence). Cash flow has been maintained whilst this rapid growth has taken place with cash generated from operating activities of £597,000 (2006: £122,000). At 31 December 2007, Retec had cash balances of £1.04 million (2006: £0.82 million). Our balance sheet remains strong and we have been able to invest in new product development, and in sales and marketing efforts targeted towards our key accounts, the fruits of which we should begin to see in 2008. The Directors are not recommending the payment of an interim dividend at this stage. We continue to make strides in enlarging our unique offering to the large retail groups within the UK. Customers won during the period include ASDA and Porto Media, and we built significantly on our relationships with existing blue chip customers such as Tesco, Sainsbury's, and in conjunction with IBM UK Limited, Alliance Boots and Argos. In total, we delivered over 2,500 Retec units to stores during the period. Our Entertainment Xtra offering has been enhanced, with an upgrade of our software platform that allows us greater flexibility in managing our estates and we will shortly be deploying a new selector (Entertainment II) giving the consumer more choice at the point of sale. Through our work with Porto Media we are developing a methodology to download entertainment in-store. The development of two new products, our Wine Selector and Electrical Goods Selector, made further excellent progress during the period. These two products, both of which incorporate Retec's guided selling proposition, are either in trial or coming to trial in a number of key customers' stores, including Tesco and ASDA. We believe this is just the beginning of the range of Product Selectors that we will soon be able to offer retailers to engage customers and increase sales. We received a further substantial order from Argos during the period, to increase the roll out of self-service terminals across 400 of its stores. These kiosks allow customers to select and pay for products, saving time and negating the need to queue, and thereby enhancing the in-store experience for Argos customers. The work for Alliance Boots was completed in the period taking the total number of units to 1,340 which are deployed across 500 stores. We expect further changes to be made to this unit as more features are brought into the application. We are now in a position to capitalise on the hard work of the last two years, during which time we have gained significant traction with a number of the largest retailers in the UK. These customers' demand for our products and services is increasing as they see the value of them, and we are also seeing a notable increase in demand from our partners with the addition of NCR Corporation since the end of June 2007. I would like to thank all our mployees for their contribution to these record half year results. The Board continues to look to develop the business substantially both through organic growth and via acquisition. Our focus remains on developing our offering in the retail sector, both with the retailers themselves and with manufacturers. Retec intends to continue expanding upon the contracts already in place, and to work closely with its business partners, in developing new prospects. As a result of the progress made in the first six months of the financial year, and the clear opportunities which now exist for Retec, the Board looks to the future with confidence. Sir Brian Ivory |
Posted at 05/1/2008 17:50 by dollarhogger Hi guysThought you might like to see this.... Buy Retec Digital at 3.75p Says exclusive small cap specialist website UKMicrocap.com The Investment Case: Retec Digital (RET) operates digital point of sale 'guided selling' and self service technology applications. It boasts a blue chip client base and is benefiting from the need for retailers to compete with online information. The stock currently trades on a June 2009 multiple of just over 5 times. Sponsored by Cornhill Asset Management Open a FREE account with Cornhill Asset Management* for access to institutional pre-IPOs. Exceptional performance - proven and published track record, independent research and traditional service Company Description: Retec was formed in 1999 and has since grown organically and through the acquisition of InStore Interactive in 2004. In 2006 it listed on AIM through the reverse takeover of Elite Strategies, and acquired two subsidiaries, Retec Interface Limited and Media 4 UK. The group provides retailers with a product offering known as 'Guided Selling packages'. This is based on a touch screen technology which customers can interact with to perform several functions. Customers of Retec's clients can use the screens to search for a product, to preview a DVD or even to top up a mobile phone and for many other functions. The major selling point of the product is that these screens can increase sales and improve customer satisfaction. Retec has recently rolled out several large contracts with big retailers such as Tesco and Sainsbury and in partnership with IBM for Argos Woolworths and Boots. Retec Interface is providing its Entertainment Xtra product to both Sainsbury's and Tesco. This is a product that is deployed in the Home Entertainment departments of these retailers, providing customers with the opportunity to preview music, films and games ahead of the purchase decision. Retec now has this system in 171 Sainsbury's and 39 Tesco stores. In partnership with IBM UK Limited, Retec has gained work from Alliance Boots, Argos and Woolworths during the year. The work for Alliance Boots is to replace 1,200 Advantage Card kiosks in 500 stores. The company's last set of results covered the 12 months to 30th June 2007. The figures are not comparable to the previous period as the company was previously a cash shell and the acquisitions over the year of Retec Interface and Media 4 have significantly changed the group. Revenues for the period stood at £4.07 million with a pre-tax loss of £0.843 million and a loss per share of 0.87p. On a like for like basis revenues in the core Retec Interface business grew by 142% to £4.5 million in the year to June 30th 2007. Gross margins increased from 8% to 26% and losses before tax were reduced by 60% to £425,000. Net cash at the end of the period stood at a healthy £1.044 million, boosted by a £1 million fund raising over the year. Management: Retec is led by John Cole as CEO, with over 25 years in the retail sector, and specifically in point of sale operations. He founded Retec in 1999 with the goal of creating an interactive point of sale technology offering a broad level of functionality. Sir Brian Ivory is the chairman, and was formerly the head of Highland Distillers Plc. He is also a non executive of various public companies including HBOS and Remy Cointreau SA of France. Bull Points: - Blue chip client base - Predictable revenue streams ahead - Operates in a specialist, growing sector Bear Points: - Currently loss making - Exposed to retail and consumer spending cycles - Came to market via a Stephen Dean cash shell. Dean is out but his past association does not help *The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Cornhill Asset Management Limited is an Appointed Representative of Argyle Investment Advisors Limited which is Authorised and regulated by the Financial Services Authority. UK-Analyst.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 5-11 Worship Street, London EC2A 2BH or on 020 7562 3370. Assessment and 2-year Target: With several pilot schemes underway for new and existing clients the company's sales pipeline looks good, especially at Sainsbury and Tesco where feedback on the current Entertainment Xtra systems has been good from both a sales and customer perspective. There is potential to expand out of the entertainment sections of these stores and pilots are underway at Tesco for putting products in another part of the store. In the pipeline the company also has pilot schemes with Asda and its partnership with IBM is producing leads. Year to 30th June Sales (£m) Pre-Tax Profit (Loss) (£m) Fully Diluted Earnings (Loss) Per Share (p) PE Ratio 2007A 4 (0.825) (0.87) NA 2008E 7.5 0.5 0.32 11.7 2009E 9 1.3 0.72 5.2 For the year to 30th June 2008 we expect Retec to post revenues of £7.5 million, with pre-tax profits of £0.5 million and fully diluted earnings of 0.32p. This puts the shares on a current year multiple of 11.7 times earnings falling to a bargain 5.2 in 2009 on the back of 0.72p of earnings. Strip out net cash of 0.8p a share and the rating looks even less demanding. This is a relatively early stage company and has it all to do to win new contracts, but good progress has been made on this front already and we are confident that 2009 could be a big year for Retec. We believe that a mid-teens multiple would be fairer for this stock and on that basis we can see the shares trading at 5p by the second half of 2008. Buy. Key Data EPIC: RET Market: AIM Spread: 3.5p 4p (12.5%) UKMicrocap.com is unashamedly elitist in its approach. We are elitist in that we restricting access to this site to just 200 investors. That means that when we recommend a stock our members can buy shares in that stock at, or near to, the recommended price without being trampled in the herd. If you would like to join the waiting list to join UKMicrocap.com click here. Good luck $ |
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