Cenkos Securities Share Discussion Threads

[quepassa] 20/2/2016 22:24

sorry for your losses on the stock for you. clearly you got your timing all wrong when you were buying last October at a significantly higher price than now.

your pent-up frustration is evident.

of course you didn't answer the question of what you meant by your words "wild speculation and rumour" but then again I didn't expect you to be able to. just hollow words on your behalf.

the only " wild rumour and speculation" which I have read on this bulletin board is in fact yours.

This is the meaningless garbage you wrote in post 1609 on 30th October last year 2015 around the time you were buying shares :

"More like a pre-amble to a cheap take out offer with the company going private."

Good luck. - Somehow, I think you'll need it with an attitude and mindset like yours.

ALL IMO. DYOR.
QP

[keith95] 20/2/2016 18:20

"But , prey what "wild rumour and speculation" are you referring to?"


The mandatory silent period prior to reporting results .. to include soothsayers and idiots that make it up as they go along .... and the period in which the 'forensic analysts' get to voice fabricated rubbish to spook investors - me thinks.



"Today's Trading Update is very much retrospective, speaking about last year. One notes that the Trading Update is silent on how the current year has started and how the outlook is for 2016."


I'll leave it to you to work out the part of 'trading update' that implies next year....





.... I take this update as implying an interim AND final dividend aka 2014 and that progress is, therefore, pucker at this point.

Not interested in speculative meaningless winges that add nothing ... :)

Numis added circa 10% friday so the shorts in the sector seem to be closing ...and given the reduced debt here relative to numis ... have a comfortable position since a month or so ago.... and still accumulating.


168 before she goes ex div :)

[quepassa] 19/2/2016 08:48

Exactly. Nicely put.

Apposite choice of words.

QP

[lord gnome] 19/2/2016 08:25

The uncertain future is writ large in the share price. Bleedin obvious to anyone with eyes to see, that the next twelve months are going to be difficult.
The only reason we had an announcement this year is to cover the second interim dividend which, I can only assume gets the divi out before the end of the tax year. This helps larger private shareholders including, I suspect, several members of management, avoid the new tax.
Nothing to debate here, move along please.....

[quepassa] 18/2/2016 20:45

i think you are the numpty x 10.

Of course in January/February last year 2015 , Cenkos did not give a Trading Update about their 2014 year-end performance. So doing it this year is indeed out of kilter with their previous pattern of behaviour in my opinion.

But , prey what "wild rumour and speculation" are you referring to?

I guess you won't respond to that question despite it being your own words.


ALL IMO. DYOR.
QP

[keith95] 18/2/2016 20:02

"One notes that the Trading Update is silent on how the current year has started and how the outlook is for 2016."

But one didn't note that there was NO trading update before the silent period last year .... nor in previous years.

... the silent period prior to results has always been a window for shorts to take advantage of a company's inability to defend itself to wild rumour and speculation ... numpty.

[speedsgh] 17/2/2016 12:43

More anecdotal evidence of weakness in IPO market...

Metro Bank cuts IPO price by 17% -

[quepassa] 16/2/2016 19:14

Post no. 1738 is an interesting post.

The new taxation regime on Dividend Income comes into force on 6th. April 2016 this year. This second (unexpected?) interim is paid on 24th. March 2016.

Today's Trading Update is very much retrospective, speaking about last year. One notes that the Trading Update is silent on how the current year has started and how the outlook is for 2016.


ALL IMO. DYOR.
QP

[markie7] 16/2/2016 18:38

Tender offers are better for tax. They only do it to give their staff means of exiting. Buy backs are capital transactions, so taxed at CGT rates rather than income tax. Remember this biz has large internal holdings

[salpara111] 16/2/2016 16:06

Well, given the absolute drubbing that most of their competitors have endured over the last 6 months, an in line statement is pretty damn good.
Not sure why they are paying two interim divis but am more than happy to have it!
Their total payout last year was 17p and with this 6p they will be up to 13p so if I were to hazard a guess they will pay 4p for the final.
I am guessing that they wont do another share buyback as they have done them for the last 2 years but it has not provided any support to the share price and quite frankly I would rather they return the money in the form of divis.

[speedsgh] 16/2/2016 15:59

WJCCGHCC - Rather disappointingly they make no comment on the amount (if any) of any final dividend which is usually announced in the Final Results (end March) and paid in May. So we are left to speculate. The rns was very brief.

Trading Update and Second Interim Dividend -

Cenkos is pleased to provide the following trading update in respect of the financial year ended 31 December 2015.

Despite the challenging market conditions seen during 2015, the Company announces that it expects its revenues and pre-tax profits for the year ended 31 December 2015 to be in line with market expectations. In addition, the Company's board of directors has decided to declare a second interim dividend for the year ended 31 December 2015 of 6 pence per ordinary share. The second interim dividend will be paid on 24 March 2016 to all shareholders on the register at close of business on 26 February 2016.

[wjccghcc] 16/2/2016 15:36

Is the second interim dividend so as to avoid the new dividend tax and so in lieu of the final dividend or is it in addition?

[sailing john] 16/2/2016 15:15

TS out - in line and 6p divi!

Managed to grab a few - two trades at 146.35 whilst market still asleep!

SJ

[salpara111] 15/2/2016 15:28

Well, when you strip net cash out of the market cap then you have an enterprise value of less than £45M
They made £18.6M in the last half year and have their 12% divi for the year already covered by earnings in the last half.
The financial metrics dont make any sense.
A p/e of 3 (assuming zero profit in the final half) and a covered divi over 12% are not normal.
You either have to believe that the business is literally going to collapse into loss or you say the share price should be at least double what it is today.
The whole Quindell debacle has undoubtedly done some damage but as time goes by that will fade away.

[billiam] 14/2/2016 22:02

Price has fallen by nearly 50% from high, so lots of fear already priced in

[gary1966] 14/2/2016 20:16

Aim is a market for fledgling, growth businesses? Do these type of businesses usually seek finance more often than more established ones, although find it harder to get in a lot of instances? Difficulty in raising finance means greater percentage on the fees?

[speedsgh] 14/2/2016 12:29

Market for fundraisings/IPOs must pretty difficult regardless of whether your focus is FTSE main listed or AIM companies. A bit of anecdotal evidence...

FXPro holds off flotation plan on market chaos -

I'm sure Cenkos's 2015 results will look fine. 2016 however may be more of a challenge. It's the nature of their business i.e. cyclical. Market certainly seems to be pricing this in.

[gary1966] 13/2/2016 17:45

Cenkos do most of their business with AIM Co's, is this the same for the competition? Does this make them a little unique?

[bad speculator] 13/2/2016 05:08

Numis AGM statement early Feb was pretty OK though, so good operators still doing well it seems (not reflected in the share price sadly...). Hopefully Cenkos will be one of the winners, unlike Canaccord and Panmure whose performance seems pretty dismal.Watching & waiting here, mid to long term this looks a bargain but short term doesn't feel like we reached the bottom yet..

[gary1966] 12/2/2016 14:45

Their doing badly because Cenkos are doing well? Possibility?

[quepassa] 12/2/2016 08:02

Just horrible Q3 figures from peer group competitor Canaccord Genuity.

Losses, impairment, restructuring. Suspension of Q3 dividend.

Citing weak markets and adverse market conditions.


ALL IMO. DYOR.
QP

[gary1966] 10/2/2016 16:37

keith2006,

I will be flabbergasted if it can't be with the earnings in the first 6 months, increased value of deals in the second half in comparison to last year, market volatility and less shares in issue after the tenders.

Gary

[keith2006] 10/2/2016 15:49

Thanks speedsgh
They all add up, it will be interesting when the final results come in if the dividend can be maintained i hope so

[speedsgh] 10/2/2016 13:25

One that slipped through the net recently...

Cenkos have acted as sole placing agent in the now-concluded £19m placing by GCP Student Living (DIGS)...

Further details on equity raise and asset acquisition (3/2) -

Results of Placing and acquisition of further asset (10/2) -

[speedsgh] 04/2/2016 10:05

Cenkos are acting as joint bookrunner (alongside JP Morgan Cazenove) on the £100m placing announced today by Imperial Innovations (IVO)

Placing to raise £100 million -

Shareholder Circular -

"The Company’s total costs and expenses associated with the Placing are estimated to be £3.1 million."