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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Autoclenz | LSE:ACZ | London | Ordinary Share | GB00B0N59376 | ORD 10P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 32.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 32.50 | GBX |
Autoclenz (ACZ) Share Charts1 Year Autoclenz Chart |
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1 Month Autoclenz Chart |
Intraday Autoclenz Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/7/2021 | 20:00 | AUTOCLENZ - Clearing Up Ready For Big Gains | 221 |
| 07/12/2012 | 11:24 | AimShell Acquisitions plc | 3 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 06/12/2012 15:46 by stemis Well we have about 29p/share in cash and about 9.5p/share in a loan to the MBO. Hopefully interest will cover running costs. Cost 32.5p. With the bid offer spread there's little reason to buy, little reason to sell. |
Posted at 06/12/2012 09:00 by deswalker A new thread for the former Autoclenz Holdings plc now that it is a cash shell. As far as I can tell the share register looks like ... IS Partners Inv Solutions AG (Helium Special Sits Fund) = 2523000 (24.26%) James Leek (Chairman) = 1065600 (10.25%) Octopus Investment Nominees = 846675 (8.14%) Bob Morton (held by Investec) = 798757 (7.68%) F&C Asset Managers = 755992 (7.27%) Rathbone Brothers plc = 514630 (4.95%) Charles Stanley Group plc = 490462 (4.72%) Singer & Friedlander Inv Management ltd = 432850 (4.16%) Bestinvest plc = 388225 (3.73%) ISIS EP LLP = 320000 (3.08%) Anthony P Cohen = 316600 (3.04%) Michael Stone (Director) = 89598 (0.86%) Non-disclosed holdings = 1857631 (17.86%) Total shares in issue and voting rights = 10400020 (100%) |
Posted at 07/11/2012 09:53 by stemis It sounds like the same long-distance conspiracy theory that thought they would delist, which turned out to be wrong as I said it would.Yes but I doubt you expected a sale of subidiaries at a price of 38.5p either (you were actually talking about a takeout price at more like 60p). I suggest people actually pick up the phone and talk to the guy instead of random speculation. Thanks but I know Mr Leek (and indeed the guys at Zeus) pretty well already ............... |
Posted at 07/11/2012 08:59 by deswalker Why would he place his shares at 30p when he told me last night that they would return all funds to shareholders if they can't enhance value through the shell within 12 months ?It sounds like the same long-distance conspiracy theory that thought they would delist, which turned out to be wrong as I said it would. I suggest people actually pick up the phone and talk to the guy instead of random speculation. As far as I can tell I'm the only one actually doing this. No doubt the price is on the low side which is disappointing. The reasons behind this were explained to me by Mr Leek as touched upon in my earlier post. More details can be obtained from him directly. The large shareholders who support the strategy clearly think that there is an opportunity to enhance value above 38.5p else they would have all just asked for the cash back themselves. I guess the decision is whether to hold on and see if they are right or take 34p now. |
Posted at 07/11/2012 08:41 by stemis To be honest, if I could get 38.5p I'd sell my shares. However currently the price quoted is 34p and not in any volume. I have great suspicion of anything that Zeus Capital are involved with I'd be concerned this is another vehicle being set up to benefit the advisors and their mates. £3-4m is not much on which to base an acquisition strategy, so a low priced placing could well accompany any acquisition. Maybe Leek would place his shares as part of that. Remember he only paid about 15p for his shares so even 30p would be a result for him. |
Posted at 06/11/2012 18:00 by deswalker I have spoken to James Leek, the Chairman and 9% shareholder. A few notes ...The low EV / (EBITDA - capex) ratio reflects various aspects of the business (lower margins, working capital, employment law). Mr Leek didn't claim it was a great deal but said it was fair. There's no tax to pay and minimal expenses. Indeed the shell will have substantial tax losses which unfortunately will probably not be available in future. Costs will be kept to a very low level while they search for new opportunities. The shareholders supporting the strategy are largely VCTs and are very experienced in the private to public arena. They say that this will be one of the cleanest shells around and hence should be attractive. I have been assured by Mr Leek that none of him or the VCTs have any intention of blowing the cash and if they don't find a suitable candidate inside 12 months then they will return it to shareholders. The EGM will be held in London. I won't be there but it would be great if anybody could go and report back to this thread. Not the outcome I had hoped for but the takeout price is 25% higher than my breakeven. I shall hold and trust the judgement of the large shareholders with the assurance that they will return the funds in 12 months if they can't find anything of sufficient value. Des |
Posted at 06/11/2012 12:35 by stemis Not exactly what I wanted............Price is little more than 2.5 x ebitda. What are they going to do with £4m? Better to give it back to the shareholders than buy some little 'growth' company that the market won't value properly! |
Posted at 23/3/2012 13:11 by deswalker Coincidentally the now delisted JCR have just issued their Finals for 2011. They show a pre-exceptional EBITDA of £682k, net-debt of £2.363m and 13.149m shares in issue. Now I know ACZ and JCR are in different sectors but I'd suggest there is at the very least a partial read-through. Suppose x is the JCR price in pence and y is its current EV / EBITDA ratio. We have ... 13,149,000 x / 100 + 2,363,000 = 682,000 y A JCR share price of 20p (ie that immediately prior to delisting) implies y = 7.32 cf ACZ's EV / EBITDA ratio of 1.75 !! Yet those shareholders who continue to hold JCR seem to think it is good value at the delisting level. Nobody can tell me that JCR is a better investment than ACZ right now. Not even close. |
Posted at 23/3/2012 09:16 by deswalker Just posted this on TMF ...Autoclenz issued their Finals for 2011 yesterday ... Back in November they flagged that second half trading was tough and that they expected to miss their internal profit targets. This prompted the share price to halve over the following months but has rallied a touch on yesterday's better than expected full year figures (business picked up towards the end of last year). At the current 27p Offer price and 10.4m shares in issue we have a market cap of £2.81m. Inspite of the tough year they reduced net-debt from £750k down to £274k giving a current EV of approx £3.08m. In spite of numerous difficulties they still managed a pre-excepetional EBITDA of £1.764m (vs £1.815m the year before). So currently this sits on an EV / EBITDA of 3.08 / 1.764 = 1.75 !! I think that is rather cheap. The exceptionals have either stopped (loss making contracts closed down back in October) or are coming to an end in the near future with the final settlement of a long standing court case. Provisions have already been made for these costs in the Balance Sheet. The Outlook statement says that trading remains tough but they've been saying that for a couple of years now and yet they keep churning out the profits and the cash. Reading between the lines one can't help but feel that they are relieved the court case is just about settled, that they will be much more cautious about contract pricing in future and that they are cautiously optimistic. They are also frustrated at the lowly share price and I shall be urging the Chairman (James Leek of Torday and Carlisle fame) to instigate buybacks as soon as the court case is finally put to bed. |
Posted at 23/3/2012 09:15 by deswalker SteMiS - agree with your sentiments in #168. I now own just over 1.5% of the company (160k shares).harrogate - all fair points and worthy of questions at the AGM. On the one hand being listed costs money and and gives competitors information. But on the other it allows access to a market for the shares for buyback purposes which is something that James Leek as real form with (Torday & Carlisle). It was certainly a medium term plan when I spoke to him at last year's AGM. I find it hard to imagine any of the institutions listed would vote in favour of a delisting when the company is doing just fine as a listed entity. The share price will improve in due course when they have a better year or two, are willing to increase the divi and when the buybacks kick in. As we see with these smallcaps, 50k shares (£10k's worth) of buying can see a 10% rise and anybody willing to invest £50k would see the share price quite a bit higher. They really are that illiquid. I should say that I agree with SteMiS. This is certainly one I would be comfortable to hold into delisting and would look to buy more should the share price fall enough. Dividends and cash returns direct from the company would be sufficient for me. They've been in the business 40 years and I see no reason why they won't be around in another 40. |
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