Cenkos Securities Share Discussion Threads

[speedsgh] 19/9/2016 15:02

QS99 - Not a lot of materials deals involving CNKS over the last 6 months afaicr. They're raising part a fair chunk for Burlywood Capital who are listing on AIM + purchasing the Football Pools from Sportech (see post 1986). Other than that, pretty quiet.

[qs99] 19/9/2016 14:50

will indeed be interesting, but it now has FCA report behind it does it not? let's see what the update holds in store, but lots of IPOs recently, have they been involved in a decent chunk of them? or not?

[speedsgh] 19/9/2016 14:37

Another loss of mandate for Cenkos. They have been replaced as Nomad/joint broker to Abzena (ABZA) by Numis...

Change of Nominated Adviser and Broker -

[speedsgh] 19/9/2016 13:57

keith95 - "dividend due soon". Well, we shall see. A dividend announcement is certainly due soon. They have an array of options on the table in front of them with regards to the dividend: Take your pick from increase (not a chance), hold (unlikely), reduce (possible), forego (possible). Evidence would seem to suggest that H1 has been a struggle and, whilst they may have cash on the balance sheet, it remains to be seen whether they are willing to use any of it supporting an uncovered dividend. The answer to that may well depend on the outlook and any deals they may have lined up for H2.

Interim Report was released on 22/9 last year so if they stick to schedule, the release of this year's Interims ought to be imminent. Aimho

[keith95] 19/9/2016 11:34

... more to the point ... dividend due soon ....

Going down on really tiny volumes .... don't mind shorts paying my dividend ... their problem :)

[garycook] 15/9/2016 14:00

Results must be due soon ?

[keith95] 15/9/2016 13:36

"But the concept was too high-risk for Cenkos, and the size of the project too small."

A tad comforting .... topped up a few this afternoon.

[speedsgh] 15/9/2016 13:00

Mention of Cenkos in this article on the Crowdmix failure. Whilst Cenkos weren't directly involved, its directors appear to have put their own money in + presumably won't be seeing it again. Eye-opening just how many city institutions appear to have got burnt with this one...

A City 'who's who' gets burnt fingers as music venture all goes Pete Tong -

[topvest] 13/9/2016 21:11

That's a slightly better deal. Just need another 10 of these!

[speedsgh] 13/9/2016 11:22

Good spot, carcosa. Looks lke Cenkos will be raising funds for Burlywood Capital in order to help finance the proposed £97.25m acquisition...

Proposed sale of The Football Pools -

The Board of Sportech announces that it has today entered into exclusivity with Burlywood Capital LLP ("Burlywood") regarding the proposed sale of The Football Pools for a total cash consideration of £97.25 million on a debt free/cash free basis (the "Proposed Disposal").

Burlywood's management team proposes to apply for admission to trading on AIM of a new company incorporated for the purposes of acquiring The Football Pools, and to finance the acquisition of the business through a combination of equity from institutional investors and a new debt facility, for which a credit committee approved term sheet for up to £30 million has been received. The Proposed Disposal is subject to, amongst other things, the necessary equity being raised, final agreement of the sale and debt documentation and, in view of its size, the approval of Sportech shareholders...

...Cenkos Securities plc is acting as Nominated Adviser and Broker to the proposed AIM quoted company.

[speedsgh] 13/9/2016 11:17

Cenkos replaced by Peel Hunt as Nomad/broker to Gaming Realms (GMR)...

Change of Adviser -

Gaming Realms plc, the creator and publisher of mobile real money and social games, is pleased to announce the appointment of Peel Hunt LLP as Nomad, sole broker and financial adviser with immediate effect.

[carcosa] 13/9/2016 07:38

New company for Cenkos to bring to market - Burlywood:

[cjohn] 12/9/2016 09:45

I've followed Cenkos for some time, and there is clearly value based on historic performance: high cash flow generating decent dividends that should support the sharePrice.


The thing is though, there are many companies to invest in potentially. Why then would I choose a coompany that has clearly got issues with honesty and management structure. The remuneration culture here - low basic pay and high bonuses, probably encourages corner-cutting, and that will not change..

The FCA report for me is a major red flag. Yes, there is value in Cenkos, but so there is in many other companies, where there are no such red flgs.

[speedsgh] 09/9/2016 10:06

Cenkos replace WH Ireland as Nomad + Broker for Inspiration Healthcare Group (IHC)...

Change of Adviser -

[topvest] 08/9/2016 20:22

Pressure on for a bigger deal before Christmas otherwise 2016 is going to be a very lean year! Suspect they have something on the go as they normally do. Fingers crossed!

[speedsgh] 08/9/2016 10:44

Cenkos are acting on £4.4m placing (part of a larger £10m fundraising) for Marlowe (MRL)...

Acquisition of H2O, £10m Placing & Subscription -

The Company proposes to raise approximately £4.4 million gross proceeds (approximately £4.2 million net of expenses) through the Placing of the Placing Shares at the Issue Price through Cenkos Securities plc ("Cenkos").

[keith95] 06/9/2016 23:52

"But you have become a needle stuck on a scratched record" - and without a turntable ...


Pair Cenkos with Numis ... I bailed Numis at 213 (Now 230) from 183 ... so expect a good rally in Cenkos assuming a reasonable update at the end of the month ... as it plays catch up.

Thing about this share is the it is very illiquid ... and the MMs are dropping the price looking to spook peeps out ... with very small trades ... a few buys and it will be back to 140+ IMO.

Current average sitting at 124 .... so 12.4p dividend yields 10% which is possible given the two tender offers over the past couple of years even if profits have fallen and despite the fine.

Any SFO investigation into what was Quindell has no relevance to Cenkos unless, QP knows something different .. which is unlikely.

10% yield at 124p suggests a good target price of 190 to bring the yield down to 6.5% ....

... which my money is betting on.

[quepassa] 01/9/2016 18:13

Post 1970 refers

[jbat] 01/9/2016 17:59

spob - I think he's probably just sitting on paper losses on Cenkos and is furious and letting off steam.

[quepassa] 01/9/2016 11:09

Anyone know when the Serious Fraud Office inquiry into Quindell will be updating?

ALL IMO. DYOR.
QP

[spob] 01/9/2016 10:47

QP

Are you an ex empolyee of Cenkos ?

Clearly you have an axe to grind with this company



We get your points and you are entitled to your views

But you have become a needle stuck on a scratched record

[speedsgh] 01/9/2016 09:34

Cenkos replace WH Ireland as Nomad + Broker for 1pm (OPM)...

Change of Adviser -

[speedsgh] 01/9/2016 09:26

Cenkos acting on £3m placing for Jaywing (JWNG).

Acquisition & Placing to raise £3 million -

[quepassa] 24/8/2016 11:16

There are two normal tried-and-tested Gambits for Cenkos to consider in this scenario in my view:-

1. The Sacrificial Lamb Gambit

- Someone senior has to be fired so that the blame can be firmly apportioned and pinned on a specific individual.I know that sounds harsh and unfair but that's the way it frequently works in The City. No?

With the removal of said Sacrificial Lamb, the company can then say that things have moved on and changed with new management, systems etc. etc.


2. The Name Change Gambit

- On the basis that what happened , happened to the old name and that the new name is nothing to do with that episode, signifying that a new chapter has been turned.




Until they do something, they will find it hard to shuck off the reputational damage associated with The FCA findings in my opinion.

Shame. But Reputation is everything in The City in my view and reputation is a major driver of new business and business flow.


ALL IMO. DYOR.
QP

[joe say] 24/8/2016 10:55

Totally behind QuePassa

ask yourself - why do companies choose the auditors they do, or the bankers, or the lawyers?

Do you not think reputation matters?

To me - its one of the core factors behind each and every one of those advisor choices (and others) - damage your reputation and inevitably existing and potential clients will look elsewhere

DON'T BELIEVE ME - then why does Cenkos state this as THEIR FIRST RISK in their Principal Risks section of their Annual Report "We believe that one of the greatest risks we face comes from potential damage to our reputation"