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1PM Share Chat - OPM

Share Name Share Symbol Market Type Share ISIN Share Description
1PM LSE:OPM London Ordinary Share GB00BCDBXK43 ORD 10P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -3.05% 63.50 62.00 65.00 65.50 63.50 65.50 27,286 16:25:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 5.5 1.6 3.7 17.1 33.36

1PM Plc Share Discussion Threads

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From what I can see on the relevant accounts, I suspect both HL and TD submitted their open offer application in one batch across all applicants. Pretty poor, amateur hour stuff, if that is the case. Would be helpful to get the allocations confirmed and the cash associated with the excess offer back in my accounts.shanklin
Mmmmm.....maybe there was an equal allocation whether you apply for 100k or 5k Clearly they were massively oversubscribed though.davidosh
Davidosh, I applied for 9000 and I also received 879 shares. I wonder whether everyone received this amount or whether it was based on the number of shares held. Surely we don't hold the exact same number of shares though.jamielein
The open offer where you could apply to take any excess shares available was massively oversubscribed as I applied for 40,000 and only received 879. I suspect there may be a fair bit of demand to satisfy when everyone gets their applications returned with cash back instead of shares.davidosh
Got an email from Barclays telling me about the open offer today. One for 29 is pretty mean and wont really add much but given the discount I am damn sure that I am taking my share.salpara111
well youinvest has sent the relevant documents through now.janeann
Thanks for the info. I would imagine that I should receive something this week then and if I don't I guess I will give them a call.salpara111
They should inform youowenski
Given that my shares are held in a nominee account, should my broker contact me to let me know about the open offer or do I have to hassle them?salpara111
what surprises me is the price is below that of the previous placing in October last year - which was at 61p. at lest existing shareholders get a bite of the cherry.janeann
Lazy advisors exploiting company by taking fees for an easy placing? A rights issue at (say) 60p with an institution or two on hand to take anything left would have been fairer to existing shareholders. All IMHO.shanklin
Surprised and not at all unhappy at the share price performance given the placing price but it really does beg the question why have we been diluted by flogging off a large tranche of the company at 60p?salpara111
The economies of scale should be good and the efficient systems operated by OPM can be used to check potential customers generated by the much larger group.davidosh
Well I will drink to that. Took a long position this a.m. / medium term investmentramridge
ramridge.....I will be very interested to see the dynamics but Ron Russell is a very strong character and has the largest stake in the company. He will have been closely involved and so I am confident the new non executives who are experienced guys and the chairman who has worked tirelessly since he arrived a year or so ago are all there to make sure the company continues to grow steadily and very healthily.davidosh
davidosh - unless I am mistaken this is the first acquisition for this company, and a big one too. Current management's mettle will be tested to the full in the next 12 months.ramridge
I challenged the directors after the results about the dividend when they need all the cash fuel they can get for growth of the company so why pay one ? They claimed the brokers had advised that payment of a dividend on AIM shows a level of maturity and security which then attracts more institutions to invest. Maybe they had this fundraising in their plans when setting out their dividend stall months ago. I still think it is fairly pointless and if the instos cannot see the investment case then leave them alone to invest elsewhere. I suspect the brokers prefer the fees attached to raising the money each time and want their job as easy as possible so like a wide field to play in. Money given with one hand means money needs raising with the other...lol That said the total dividend payment was a fraction of the money raised here so not really material just looks silly ! Overall I like this deal but I do hope it does not change the dynamics within this small 'family minded' business as all those new directors is a big step change and potential mindset change too.davidosh
Agree, Salpara111. They could have easily got placing at below 5% discount given their strong performance. Also paying a divi when they were/ are on an acquisition trail doesn't sound good financial management. Badly advised by their investment advisers/ NOMAD IMO.ramridge
Like the look of the deal but don't like the fact that they offered an 11% discount, given their current trading performance I would have hoped they could have enticed in a few small cap fund managers at a 5% discount. I am also more annoyed that they have chosen to pay a divi given that the money could have been put towards this deal. Having said that I am inclined to stay on board for the next 6 months to see how this acquisition plays out.salpara111
Quick look at the numbers says: - Acquisition revenues £5.1m / OPM revenues £5.5m - Acquisition Profit before tax £1.8m / OPM PBT 1.6m So the acquisition more or less doubles the size of OPM in one stroke. And they are paying only £12m when the current MV of OPM is £22m Looks a good deal to me. All IMO & DYORramridge
Looks like they read your mind PJ.stegrego
Difficult to say from the information we have but, would this acquisition remove the need for repeated fund-raising to raise much of the case to be lent out by OPM. If so, it could put booster rockets under OPM's EPS growth. All IMHO.shanklin
looks like this is what was holding the share price downowenski
Morning. I know nothing of 1pm and am starting to take a look. Its an area where I always struggle to make sense of the Accounts (small pos in AVAP) Specifically what are the views on acquisitions here to accelerate growth? Is there opportunity, is it a fragmented area? As they have invested in 'themsleves' would that give overhead saving with any acquisition? TIA pjpj 1
They spent a lot of money over the last 12 months investing in the business which means that as the business grows over the next 12 months the operational gearing should really kick in delivering increased profitability. I would still rather not have the divi though!salpara111
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