Share Name Share Symbol Market Type Share ISIN Share Description
Centralnic LSE:CNIC London Ordinary Share GB00BCCW4X83 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 46.75p 46.50p 47.00p 46.75p 46.75p 46.75p 173,137.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 10.4 1.5 1.4 33.4 44.83

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Trade Time Trade Price Trade Size Trade Value Trade Type
15:27:2146.5025,50011,857.50O
15:27:1546.5021,60310,045.40O
14:27:3346.505,0002,325.00O
13:17:3146.5032,50015,112.50O
13:17:2646.5027,50012,787.50O
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Centralnic (CNIC) Top Chat Posts

DateSubject
28/3/2017
09:20
Centralnic Daily Update: Centralnic is listed in the Software & Computer Services sector of the London Stock Exchange with ticker CNIC. The last closing price for Centralnic was 46.75p.
Centralnic has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 95,894,348 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Centralnic is £44,830,607.69.
04/1/2017
18:07
battlebus2: Another day of selling and a steady share price, someone still happy to snap them up at 46/47p.
07/12/2016
16:40
saucepan: Still watching the flat lining, without a position, and letting the chart be my guide. I will review if the share price breaks 50p again.
10/11/2016
08:59
speedsgh: CentralNic: Focus on growing the recurring revenues - HTTP://tiptv.co.uk/2016/11/1819/ Interview with CEO Ben Crawford in which he explains the company’s business models and finances and states that the focus is on growing the recurring revenues and the highly visible revenues. China is the biggest market for CentraNic along with other EM nations like India, Turkey, says Crawford. -------------- Not sure I warm to Mr Crawford as a person but so long as he succeeds in driving up the share price over time, I don't suppose I should complain.
13/9/2016
20:14
saucepan: Thanks for the compliment, battlebus2, and I of course respect you equally. I agree, Kestrel accumulating looks a positive sign. I was not aware of that when I made my latest comment. One has to assume they are very well informed. I note that Private Punter also wrote a very good piece with some useful insights. Like Andrew Day at KWS, Ben Crawford also comes across very well in interviews and it was one of the reasons I was enthusiastic about CNIC earlier. However, I do wonder whether it is significant that Ben Crawford does not hold a disclosable position. Andrew Day, for example, currently holds 7% of KWS. Part of my current problem, as I am in considerable part a technical investor, is the chart. Related to this, there were a fair few shares issued at the heavily discounted placing. Presumably those who picked up those shares thought they were onto a good thing and some would be looking to make a quick profit. They never got that opportunity. It makes me think there will be overhead supply coming into the market when the price starts to recover. At the very least, won't those buyers be wanting to get out even? That concern might be a red herring - just my own thinking. 40p is an obvious round number to try to build support. I think the odds must be good of that happening now. I am not averse to getting back in here and have no wish to talk the share price down. Sorry if my observations have come across that way. My intention was simply to try to flag what has currently stopped me reinvesting and also with a view to probing what others think. If price gets back above 50p that might be a good time to get on board again as it would possibly signal that an uptrend has resumed. Good luck. There is something about the CNIC story that is compelling, which is why I became interested in the first place.
17/8/2016
14:03
adamb1978: The risk to the share price is simply boredom and lack of liquidity causes people to exit. Hopefully the results in a month or so will show continued growth and add credability to the forecasts for the year - assuming so, the share price is cheap at current levels
25/5/2016
19:32
adamb1978: Very odd that they didn't include the adjusted EPS figure in the summary table - maybe they're deliberately trying to hold back the share price? Either way, this looks very cheap. My own forecasts have this producing 4.5p EPS for 2016 so the current share price is very cheap. Looking forwards 12-18 months, if they end up being on course for something towards 6p for 2017 we could be looking at a share price north of £1 by then
10/2/2016
09:56
kinbasket: Where is the incentive there to drive the share price forward to reflect my best interests? I fail to see it. Well they need the share price to be well north of 40p to make any kind of profit. If the share price is 140p by Sep 2018 it represents a bonus of £2.2m across 6 employees. If it's only 90p it's only £1.1m. I agree it's a little bit cheeky but if the share price is 140p by then I won't exactly be complaining. I won't be complaining if it's 90p. In the context of the rest of Management/Director remuneration it doesn't strike me as excessive. It's too much for sure but that's the world we live in. It could be worse, they could be doing the resources thing and handing out zero priced options like confetti.
11/8/2015
22:18
glasshalfull: 9th August 2015 GHF Investment synopsis Share price decimated... CentralNic (CNIC) who are profitable and cash generative, listed on AIM in September 2013 following a placing at 55p which valued the company at £32.5m. The market were hooked on the story initially, the share price doubling to 112p by October 2013. However, the share price then went into freefall, with the chart resembling a ski slope since, bottoming at 22p in April 2015. While the company hadn't put a foot wrong, speculators were simply expecting CNIC to be a big player in the new gold-rush & bid the stock up accordingly. As they bounced along the bottom in April 2015, I decided to take a maiden stake and cross my fingers tightly for a positive outcome on release of 2014 results, which I believed would prove that the poor market sentiment was unwarranted. That turned out to be the case & the share price has since stabilised & risen marginally from these lows despite a couple of further upbeat announcements in recent months. CNIC are currently 35.5p (35p bid-36p offer…with an UT trade going through after Friday’s close, so you may think they’ve jumped to 39p if perusing any share price sites). The current share price is a far cry from the 112p high achieved 2-years ago, despite the company expanding their offering through acquisition and delivering to plan. Considerable work has gone into developing the infrastructure & business model, and I’ll discuss the financials after explaining a little bit about the company and market opportunity from my perspective. What do they do, I hear you cry? Essentially they are one of the world’s leading registry service providers (RSP) for internet domain names. As they mention in their website blurb; Https://www.centralnic.com/ “CentralNic uses our in-house developed IT platform to distribute our own portfolio of 24 domain names including .uk.com, .us.com and .cn.com(China) to a global network of "1,500 registrars" (retailers such as Network Solutions, LLC), which sell these to end users. We also use this platform to sell domain names owned by third parties including .la for Los Angeles, .pw and .com.de (Germany). Further, CentralNic provides consultancy services to companies seeking to create their own domains. Our powerful registry engine has an eighteen year track record of uninterrupted and unblemished service, and it is supported by innovative marketing and personal customer service. Additionally, our flexible and scalable platform is above ICANN specification for new TLDs.” …now in English please As background there are over 300m internet domain names in existence today with volumes having grown by 1.5-2% annually (essentially the .coms we all are familiar with). This equates to an increase of 4-5m domain names per quarter worldwide. Until 2014, only 22 generic Top Level Domains (gTLDs) existed, and to date the market is dominated by a handful of TLDs, most notably .com (120m domains); .net (15m domains) and .org (10m). Assignation of new gTLDs began in October 2013, opening up the possibility of thousands of gTLDs materialising over time and enabling the market entry of hundreds of new gTLD owners (registries). These changes combined with a relaxation of restrictions on the cross-ownership of registries and registrars, is driving growth in the gTLD market. Many of the new registries emerging as part of the substantial broadening of the gTLD market are choosing to outsource some of their required activities to Registry Service Providers (RSPs) – this is where CNIC come in - and include the provision of an IT platform to manage the domain name system for wholesalers & domain registrars, such as Go Daddy which successfully listed on the NYSE in April 2015 and is now worth a chunky $4billion! RSPs typically take a share of the wholesale value of each domain name sold. The current annual renewal value of the pre-existing domain name market is over $4bn & it is envisaged that ICANN the industry body will release some 1,400 new gTLD's into the market. c.550 have been released so far & CNIC with their global wholesale network of over 77 countries will be a leading wholesaler & exclusive registry service provider for at least 38 (more pending) new gTLDs, as well as 36 legacy domain extensions. There have been c.7m domain names registered under the new gTLDs to date. From my notes and observations approx. 2m gTLD’s have been registered between April and end of July 2015. Sounds a significant sum BUT this is well below ICANN’s forecast of 15m by mid-2015. Where do CNIC fit in? Astonishingly CNIC are currently number two in the global market by volume of new gTLD domain names sold. Yes, they are hobnobbing alongside the likes of Verisign who are valued at $8 billion market cap ( .com registrar) & Donuts.Inc which is number 1 in new gTLD’s sold by volume & also likely to be a member of the $billion club. Before I go any further I'm not suggesting that they should be valued in the $ billion arena...just that I believe they are punching above their weight & have carved out a lucrative niche. As mentioned, CNIC is now on a far more reasonable rating following its share price returning to earth with a bump, having spent the last year building & investing in its infrastructure for the gTLD market which although still in its infancy, is forecast to grow considerably during the reminder of the decade, albeit at a slower rate than first anticipated IMHO. Financials Peel Hunt consider that CNIC have a leading position in this expanding market due to the considerable expansion of new generic Top Level Domains (gTLDs) which has opened up the market for registry services and increased the pressures on enterprises to manage their domain name estates. As new gTLD domain name volumes increase, CNIC is expected to benefit from strong operational gearing, with Peel Hunt indicating that they will enjoy EBITDA margins approaching 40% by 2017. The company has a low capex & w.c. model which should result in strong cash conversion, forecast at around 90% of EBITDA, supporting high free cash flow yield projections. Operating margins are forecast to increase from 21% in 2014 to 27% in the current year. Clearly as the business builds scale the cashflow will only get stronger as customers pay in advance for the domain. They should also be beneficiaries of repeat or recurring revenues via annual renewal of domains. On 28.04.2015 FY 2014 results were released & in-line with forecasts Http://www.investegate.co.uk/centralnic-group-plc--cnic-/rns... Financial Highlights: * Revenue £6.07m (2013: £3.05m) * PBT £520k * Adjusted EBITDA £1.72m (2013: £1.02m) * Adjusted Diluted EPS 0.56p * Net Cash £3m * Net cash-flow from operating activities increased to £1.41 million * Ranked as the world's Number Two new TLD registry provider by volume - launched 8 new generic Top-Level Domains during the year, including the leader by volume, .xyz (more of this below) The Investment Case CNIC have focused on 3 profitable operating divisions:- (1) Registry services – Services the registry market through management & wholesaling of domain names via its automated proprietary platform to a global network of retailers. It also offers a range of consulting & sales and marketing services to Registry Operators for both the new gTLD & legacy domain markets. (2) Registrar services - Sells domains directly to end-users through its retail websites, augmented by the acquisition of domain name retailer, Internet.BS. that it acquired following the AIM listing. (3) Enterprise services – Supplies software & consulting services directly to enterprises & governments. This division also includes the company’s aftermarket sales of some of its portfolio of 20,000 premium generic domains. I believe that CNIC may soon capture the global gTLD registry provider number 1 position as it’s narrowing the gap on giant, Donuts.Inc, with the latter holding a market share of 21% (1.4million domains registered) & CNIC holding 19.6% (1.31m domains registered) which were the stats I noted last week (as at 31.07.2015). This week they've closed the gap further, with Donuts.Inc holding a 20.7% share (1.41m domains) versus CNIC's 19.9% (1.36m domains). Link below confirms this data & indicates the strength of the .xyz domain. Https://ntldstats.com/backend So, I'd sum it up by saying that CNIC are performing well in the gTLD market....which is growing at a pedestrian rate compared to that forecast. "When?", or more importantly, "Will?” the considerable growth materialise??? I've absolutely no idea, but the perceived view is that over the medium to long term demand for TLDs is expected to be driven by the rising number of internet users, particularly in emerging markets, and website adoption by small businesses and start-ups in both emerging and mature markets. There have been hundreds of brand-related TLD applications made and expectations are that the launch of these will increase end-user interest and awareness. I would be pleased to learn any other views. In 2014, CNIC invested $1.6m for a 12% stake in Accent Media, which holds the rights to the new . tickets gTLD. As part of the deal, CNIC became the exclusive RSP and a retail partner for . tickets . It is hoped that . tickets will provide confidence to the online ticketing market, which has ongoing issues surrounding fraudulent ticket sales. Only validated artists, venues & commercial ticket operators will be able to use the domain name and will sell via a platform that resides within their . tickets website. . tickets extension is set to be launched at the end of September 2015. Additionally, they’ve developed an Enterprise Services division to exploit the value of their portfolio of 20,000 premium generic domain names. In December 2014 they announced the sale of a number of premium domain names from their portfolio for $2.5m & in July 2015 announced they'd receive a further $1m from the sale of some premium content. The undernoted article speculates that it may be $1m payment for GB.com which indicates the potential underlying value of this leg of the business. Http://www.thedomains.com/2015/07/01/centralnic-sells-1-mill... This is more notable when watching/listening to a couple of recent broadcast links posted on the quiet ADVFN thread (thanks to battlebus) & in particular the undernoted YouTube broadcast where at 13:50mins into the conversation, CNIC's CEO indicates that they were offered $8m for US.com & turned it down simply as it was considered to have a higher value than this. Https://www.youtube.com/watch?v=WWjRLmG8-tU Valuation Reminder that most of their peers are capitalised in terms of $billion's compared to CNIC's current market cap of £23.8m (@35.5p) which increased following the recent small placing of 5.7m shares in June 2015 that raised £2.3m (excluding expenses) at 40p which was a PREMIUM of 16% to the prevailing share price. Http://www.investegate.co.uk/centralnic-group-plc/rns/placin... EV will be therefore be c. £20-£21m given CNIC’s cash generative qualities. There was discussion in The Pub around the time of the June 2015 placing with some conflicting views that are worth reading. Http://boards.fool.co.uk/cnic-centralnic-placing-13227348.as... I believe that Peel Hunt have c.3.1p EPS pencilled in this year (PER 11.4) & 5.2p EPS (+68%) next (PER 6.8). These are the forecasts noted in Stock-o-Pedia and consistent with Peel Hunt info I have. I'm unaware if they take into consideration the increased equity mentioned in the paragraph above via the small placing in June. Management Details listed here, Https://www.centralnic.com/investors/governance/overview Ben Crwaford, CEO, is the face of the company since 2009, expanding their global footprint. The under noted link finds him providing an overview of 2014 results Http://youtu.be/3ygTGw_B3W8 Major Shareholders Details as at 29.06.2015, Https://www.centralnic.com/investors/tools/major-shareholder... In attempting to unravel the shareholding structure, management through direct and indirect holdings have a combined interest in c.59% of the equity. I would like to see this % reduce materially. Interestingly on Friday, Livingbridge VC announced an increase in their holding to 7.8%. You may recall they were recently known as ISIS & required a name change. Livingbridge were thought to have pulled the plug on the Netcall / Eckoh merger which although a recommended deal was based mainly in very highly valued shares in the latter. Livingbridge would appear to have declined this share swap which I noted at the time as it's unusual to see an agreed bid fail in the absence of a counter-bidder. They clearly aren't frightened to fight their corner. Conclusion In summary I consider CNIC a good risk/reward proposition. Here is my own key rationale:- * Earnings Growth - Essentially an excellent play on earnings considerations; low PER; net cash; cash generative with increasing margins forecast & a high level of operating leverage. * Growth of new gTLD Market - Growth expectations in emerging markets & growth in smartphones will see a plethora of new websites & businesses requiring domain names. * Premium Domain Names - As above, the inherent value of their premium domain name portfolio which has already brought $millions in revenue. * Acquisition target - CNICs market position & valuation based on its considerable scale & breadth of offering. Especially with thoughts on the strategic benefit to any number of their billion $ competitors (global wholesale network, supplying domain names to over 1,500 vendors in 77 countries). In terms of peers, London listed NCC Group acquired Open Registry in January 2015. It includes a registry service provider (RSP). Cost was up to £14.9m (£7.9m initial & remainder earn-out). Open Registry generated sales of €3.7m and EBITDA of €15,000 in the year to December 2014. Http://www.investegate.co.uk/ncc-group-plc--ncc-/rns/acquisi... The price paid provides a benchmark to compare against CNIC which generated far greater revenues of £6.07m & adjusted EBITDA of £1.72m in the same period. & finally… It's worth noting that Google paid $25million for the entire . app gTLD in February 2015 & the considerable monies spent by other players in this market. Http://uk.businessinsider.com/google-just-paid-25-million-to... Also notable from the article that Amazon bought . buy for nearly $5 million and . spot for $2.2 million last year. Just goes to show some of the significant (substituted for “crazy”) valuations that may be commanded in this brave new world of generic Top Level Domains! Disclosure I hold a few CNIC & see considerable upside over the next few years should gTLD’s take off. Even if they don't, CNIC's stable registry business, cash balance and cash generative qualities suggest they are a good risk/reward investment IMHO. Please DYOR Kind regards, GHF
07/8/2015
22:36
battlebus2: Hi RP a "UT" trade is an uncrossing trade resulting from the opening or closing auctions. Long winded definition.... At the start and end of the trading day, and occasionally in the middle of one, a process known as an ‘auction’; takes place on shares traded on SETS or SETSmm. [edit]Auctions The opening auction normally lasts from about 07:50 to 08:00; the closing auction from about 16:30 to about 16:35. A 5-minute auction can also be triggered in the middle of a trading day if prices are moving very rapidly. I believe the purpose of these interday auctions is to slow things down a bit and get the share price to settle down at a stable “market” level: the opening and closing auctions are similarly intended to get stable “market” opening and closing prices. There are also auctions mid-morning on the third Friday of each month, used to get stable prices for option expiry purposes. All of these auctions can get extended by a few minutes for various reasons. In normal trading, orders are continuously coming in and being matched against each other. Each order is either an “aggressive221; one that has to be dealt with at once, or a “persistent221; order that can sit around waiting to be matched. The “order book” consists of all the current unmatched persistent orders – each one of which is either a sell or a buy and has a limit price, with all of the sell limit prices being higher than all of the buy limit prices (otherwise, a sell could be matched to a buy). [edit]Order Types Aggressive orders may or may not have a limit price, and may or may not be allowed to be partly satisfied – depending on the exact combination, they are called “at best”, “execute and eliminate” or “fill or kill” orders. An incoming aggressive order gets matched against the order book as far as possible within its constraints; any part of it that is not matched is then rejected. An incoming persistent order is matched against the order book similarly; any part of it that is not satisfied is added to the order book. [edit]During an Auction During an auction, this matching is suspended. Aggressive orders are not allowed to be entered and persistent orders are allowed to build up regardless of whether they could be matched. (Incidentally, I believe this is why you sometimes see things indicating that the “bid” price is higher than the “ask” price at the time of the closing auction: the “bid” price is the highest price of any persistent buy order, the “ask” price the lowest price of any persistent sell order.) In addition, unpriced persistent orders are temporarily allowed on to the order book – they’re known as “market orders”. They’re basically for people who are willing to trade at whatever the market price determined by the auction turns out to be. [edit]End of an Auciton Then at the end of the auction, the whole set of accumulated persistent orders are matched against each other. The basic idea of this is to find the “uncrossing price” at which the largest number of shares can be traded – the idea being that if you go higher than this price, the number of trades goes down because there are too few people willing to buy, while if you go lower, it goes down because there are too few people willing to sell. The full rules are quite complex though – basically, they need to provide quite a lot of “tie break” rules for when two different prices will both result in the same number of shares being traded, and also to determine exactly whose orders get matched if there is a mismatch between the numbers of shares people are willing to buy and to sell at the uncrossing price. [edit]Uncrossing Anyway, once the uncrossing price has been determined and which buy and sell orders get matched, all of the matched orders put together are reported as a single trade, of type “UT” (for “Uncrossing Trade”) and size equal to the total number of shares changing hands. In particular, note that a 38,000 share “UT” trade does not necessarily mean that any particular person or organisation has bought that many shares, nor that any particular person or organisation has sold that many shares. It may be a combination of lots of smaller trades by people and organisations.[1]
17/6/2015
07:09
battlebus2: Excellent news......40p placing.......share price 34p.... Placing to Raise GBP2.3 Million at 16% Premium to the Current Share Price CentralNic (AIM: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, is pleased to announce that it has raised GBP2.3 million, before expenses, through the placing of 5,750,000 new ordinary shares of 0.1 pence each (the "Placing Shares") at 40 pence per share (the "Placing"). The Board of CentralNic is focussed on delivering a step change in its growth both organically and through the continuation of its proven acquisition strategy as deals are becoming available for each of the Wholesale, Retail and Enterprise business divisions within the Group. The net proceeds of the Placing will be used by the Company to strengthen its balance sheet and in turn enable greater flexibility for smaller investment opportunities as well as more transformational deals and for general working capital purposes. As at 31 December 2014 the Company had net cash of GBP3.06 million and through its diverse business model, is profitable and cash generative. The share price of the Placing represents a premium of approximately 16 per cent. to the closing mid-market price of CentralNic's shares of 34.5 pence as at 16 June 2015, being the latest practicable date prior to this announcement. The Placing Shares will represent 8.58 per cent. of the Company's enlarged ordinary share capital immediately following Admission. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares will commence at 8:00 a.m. on 18 June 2015. Total voting rights The enlarged issued share capital of the Company following the issue of the Placing Shares will be 67,007,481 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Following Admission, the above figure of 67,007,481 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules. Commenting on the successful Placing, Ben Crawford, Chief Executive of CentralNic, said: "This past year has been one of significant progress at CentralNic. As well as diversifying our business to gain exposure to the B2C and enterprise markets, we have gained a market share of over 18% of new TLD registrations, ranking the Company as the number two new gTLD wholesaler globally. This is thanks to our strategy of targeting the developing world, where growth is most rapid, as well as our inventory of great TLDs, including .xyz, the world's leading new gTLD by a considerable distance in terms of number of registrations. The Group looks to continue on its growth path and to increase its portfolio of TLDs, to grow revenues and profits. "We are delighted to have been able to raise monies from a new institutional shareholder as well as existing shareholders and look forward to working with all our shareholders as CentralNic utilises these new funds to assist the Group in executing our growth strategy in this period of unprecedented change to the internet."
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