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Real-Time news about Berkeley Tech (London Stock Exchange): 0 recent articles
|the diviner: I am out.
As per my last post, I only held 25,000 shares and I managed to sell them today @ 4p for a small loss.
It could be that my timing is bad and that BEK is about to take off as the share price has gone up a little but it was starting to feel like a Value Trap to me.
I hope that the share price of BEK does increase for those who still hold and I wish all holders of BEK shares well.
|hugepants: Someone bought 50,000 and put 25% on the share price. I dont think it was the company buying since they can only buy at +/- 10% of the mid price.
At last results BEK had:
net cash of 13.75p per share
private equity of 2p per share
I wonder what happened to the Xtera float.|
|the diviner: I only have 25,000 shares in BEK and I only paid 4.2p for them a year or so ago but I am already sick of waiting for good news to arrive regarding the BEK share price. - As others have others have pointed out the price of BEK shares is not likely to rocket soon.
To test the theory that the company want to buy back the shares at up to 4.4p, I tried a Fill or Kill order to sell my 25,000 BEK shares @ 4p but it was rejected.|
|hugepants: Is this going to work for a stock with zero liquidity such as BEK. eg current share price is 4p, therefore the company will be able to buyback shares at between 3.6p and 4.4p. But current spread is 3p-5p. Or do they place a buy order at 4.4p and the market makers push the bid price up to try and get sellers at 4.4p?
And why only 10% above? PMHL can buy back shares at 20% above the recent average price.
PROPOSAL 5 - REPURCHASE OF SHARES ON STOCK EXCHANGE
A special resolution is proposed as special business, to empower the Company,
subject to the provision of the Companies (Jersey) Law 1991, to make purchases
until 30 December 2011 of the Company's own shares on the London Stock Exchange.
Purchases will not be made of more than 9,600,000 shares, less than 15% of the
total issued Ordinary Shares. Such purchases may only be made at a price not
more than 10% above, nor 10% below, the average of the middle market quotations
for an Ordinary Share derived from the London Stock Exchange Daily Official List
for the five business days before any such purchase is made. The Board of Directors unanimously recommends shareholders to vote FOR this
special resolution, which will allow the Company to repurchase publicly less
than 15% of the Company's Ordinary Shares, subject to certain restrictions on
dates, amounts and prices.|
|hugepants: Assuming no equity value to the employee benefit trust shares (so effectively 51.7M shares in issue) then BEK had 14p net cash per share at end of June 09. And an additional 1.5p per share in private equity investments.
Cash burn should be about 2.25p per share per annum if we assume no increase in revenues.
Current share price is 4p. Says it all really.|
When the price dropped to 2p to buy I tried to buy some online but was only quoted for 1,500 shares which is £30 worth. Someone else bought 1,000 shares (£20 worth) and doubled the share price.|
|baner: management has done a good job cleaning this mess up. NAV now 15p or better - basically all in cash! so why the low share price:
1. board/management give them selves options on treasury stock at completely bombed out share prices - highly "unusual" and certainly not in best interest of all shareholders
2. significant admin costs with very little income will drain the shareholders funds year in and year out
best would be for management to take company private at say 12p. good for them, good for all other shareholders.|
Woo hoo indeed sir. The results good and Q4 performance was very strong.
Q4 consulancy income was well up again to $700K which was exactly matched by reduced operating expenses. So Q4 profit was equivalent to interest of $170K.
Mentions consultancy income expected to be volatile but also seeking to reduce costs further by removing US listing. It looks like the days of any significant cash burn should be over.
Shares are pretty much untradeable. With 14p cash and NAV 16p wish theyd just offer say 12p and take it private.
And the LPAL insurance caper isnt dead yet.
We will continue to evaluate new product opportunities for LPAL. Any future gains on LPAL's investment portfolio would give us more flexibility to rebuild our insurance operations.
And the investment strategy.
We believe that our long history of successfully investing in
Silicon Valley technology companies positions us well to create value by
acquiring equity positions in promising private companies. We back
entrepreneurs directly with our own capital, or by coinvesting with clients, or
in certain cases we may benefit from investments made by clients if their
investments are successful.
Cant see much happening in the near term unless they actually make an effort to increase the share price ie. Share buyback. Whats the point in making risky equity invesments when they can buy cash at half price or less.|
|jim_black: £150,000 is way OTT looking at the size of this company and the share price fall.
I googled 'Arthur Trueger' yesterday ,he posts on numerous blogs and has a website at arthurtrueger.com which ironically looks as though its had a lot more effort put into than berkelyvc.com|
|baner: mr treuger is cynically ignoring all other shareholders and only milking this for his own personal benefits. this will go on as long as there is no legal aspects holding him back from doing so. the "consultancy business" is complete and utter nonsense and only there to "justify" this milking exercise.
treuger has an exceptionally bad reputation in the US - for exactly this type of behaviour.
this is very sad for all other shareholders and it is very difficult to understand how anyone can lend his name to be a non executive director of this company.
sure, the NAV is probably even 3 times the share price with no debt in the balance sheet. but sadly this does not help as treuger is not going to allow other shareholders to benefit from this asset base.|
Berkeley Technology share price data is direct from the London Stock Exchange