Eleco Public Share Discussion Threads

[lgw500] 02/11/2015 20:44

Anyone care to comment on today's share price increase?!

[hastings] 27/10/2015 15:44

May be of interest

[mrpotatohead] 22/10/2015 23:50

Good story, lots of potential, but questions about management - Ill hold

[stevemarkus] 05/10/2015 11:37

I think it looks a bit overdone - I sold my holding on the spike - useful to have the volume to sell into. Might rebuy at some point - will be watching how they progress...

Steve.

[kendonagasaki] 05/10/2015 09:42

Looks very over valued to me IMO.A lot of forward looking growth factored in, that's the problem with viewing through a crystal ball.It's gets very Hazy at times.High enough for now.

[lgw500] 30/9/2015 13:30

An interesting week following the weekend press. Would the CEO like to buy some shares?

[petersmith3] 28/9/2015 10:58

PPG - one of the safest aim stocks with 10-bag potential!


Plutus has already been awarded management contracts for 5 X 20MW generating sites. Rockpool Investments has managed to raise £17.8 million in EIS funding.

Each 20MW site could potentially generate on average £340,000 net annual profit for Plutus, even if only running for 120 hours per annum.

So 10 sites (the stated target within 3 years)would be likely to produce £3.2 million in net profit to Plutus, equivalent to 0.43 pence per share.

If all 10 are contracted under the Capacity Market, this would add another £1.5 million in net profit (equivalent to a further 0.20 pence per share), making a total of 0.63 pence net profit per share.

This is all well and good, but it is already on the cards I understand that this 3 year target of 10 sites will be smashed in the first year.

I believe we could be more than double that number of sites by August 2016, in which case we are talking of between 1.5 pence and 2 pence net profit per share.

So the price target for the share should be a minimum of 20 pence by August 2016. If this comes about (20 sites plus) the sentiment and probably further institutional investment stakes will ensure that it goes north of 25 pence a share.

So this would mean a 2,500 % increase on the current share price.

[rathkum] 27/9/2015 16:20

MIDAS SHARE TIPS: Elecosoft's clever software is proving popular among construction firms

By Joanne Hart for The Mail on Sunday

Published: 11:27, 27 September 2015 | Updated: 11:27, 27 September 2015

View comments

Tall order: The firm's software was used during the construction of The Shard

Almost every homeowner can testify to the misery of renovations. Invariably, they take longer than expected, cost more than was budgeted – and do not look quite the same as the image you had in your mind.

Homeowners are not alone, however. Major building projects are also prone to delays and cost over-runs. Elecosoft produces clever software that aims to alleviate these tiresome construction issues. The company has recently undergone a major transformation and the shares, at 21p, should increase substantially over the next few years.

The firm was renamed earlier this year, having previously been called Eleco. It traces its roots back to 1895 and was listed just a month before the outbreak of the Second World War, by which time it had become an international supplier of specialised building products.

Continuing in this vein for several decades, Eleco branched into technology in 1994 and between 2000 and 2007 acquired several software businesses designed to help contractors become more efficient. Then came the financial crisis, which hit the firm’s construction division hard, while highlighting the resilience of the software business.

Eleco duly sold off its construction operations, changed the management, restructured its debt and has now emerged in its new form.

Elecosoft’s software helps customers in three ways. First, it helps them to visualise what a building is going to look like, using 3D design technology. Second, it helps them manage projects so they run to time. Third, it helps them to calculate the cost so projects are less likely to go over budget.

The business works with 69 of the top 75 contractors in the UK and almost half the construction firms in Europe use its software. Overall, it has about 50,000 customers and its products have been used during the building of The Shard and the London Eye in London as well as the Reichstag in Berlin. More than 40 per cent of revenues come from annual maintenance fees so customers can keep software up to date.

However, most customers only buy one product from the group and the majority of its business comes from just three countries: the UK, Sweden and Germany. That leaves plenty of opportunity to grow, and the company aims to encourage customers to buy more products while making greater inroads into places such as America and the Middle East.

The firm even offers products for self-builders and homeowners, with a range that can be bought online under the Grand Designs 3D brand.

Chief executive Nick Caw, a youthful 43, was appointed last year, having spent the previous seven years in a senior position at Microsoft UK. Before that, he was part of Eleco’s original move into software, so he already knew the business and its people well and could hit the ground running once he returned.

Initial signs are good. Given that Eleco’s software operations were created from a string of acquisitions, the businesses operated quite independently of one another. The UK division specialised in time management, the Swedes on cost and the Germans on visualisation.

Caw has fostered a more unified approach, encouraging people to collaborate so they can go to customers with a package of complementary products. The move is well-timed. Construction firms are keener than ever to become more efficient and regulations are pushing them in that direction.

Half-year results reported this month showed good progress. Despite the weakness of the euro and the Swedish krona against sterling, profits still rose 25 per cent to £500,000 and brokers expect full-year profits of £1 million, rising to £1.5 million in 2016.

There is no dividend at the moment but Caw is keen to introduce one once growth plans really bear fruit.

Midas verdict: Elecosoft is in an exciting part of the construction sector. Few companies offer as many different software services as it does and there are plenty of opportunities to grow. Caw is a sensible operator, who combines ambition with pragmatism and Elecosoft shares should respond well. Buy.

Read more:

[lgw500] 23/9/2015 16:22

At what point will the company purchase its own shares? If the house broker is correct, it should be buying as much as it can at 21p providing it is generating cash.

[lgw500] 17/9/2015 08:48

Acceptable results but nothing to indicate that there is a significant growth story. It seems to me a steady business with annual EPS of 2p with 10% pa growth. This is enough to support the current share price but not more. Unexciting HOLD.

[lgw500] 16/9/2015 21:14

Would be good to see the CEO and new CFO buying some shares after tomorrow's results! Let's hope that foreign currency, China and Uncle Tom Cobbly are not used as excuses. It is time to deliver.....

[lgw500] 15/9/2015 17:30

Why would someone be a small seller two days before results are due?

[rathkum] 19/8/2015 12:00

Elecosoft in the top 8 among software companies according to this blogger. Posted Yesterday by Australian small-cap companies

Going Global - Small thinking BIG

We went through the exercise of reviewing the 100 micro-cap companies listed in the UK, categorized under the Software and Computer Services sector and over 200 similar companies listed on the NASDAQ in the United States. We also looked at select micro and small cap listed software companies in Europe and Asia.

We are looking for companies that are taking their software/systems/smart hardware to the global stage, so we are really looking for classical growth companies, which have quite strong underlying business models. This strength in the business model in early stage companies typically takes the form of enterprise value to sales at less than 2 times and enterprise value to recurring revenues at less than 3 times. As the company matures the enterprise value to EBITDA starts heading towards 10 times and the Price to Earnings ratio falls to 20 times or below.

We have boiled down the few hundred companies to just 8 names which have attractive investment characteristics in our opinion. This number fell to 7 after Cimatron (NASDAQ: CIMT) received a takeover offer from 3D Systems (NYSE: DDD) at a 50 percent premium to the price it was trading at when we first mentioned the company.

The attractions we look for in these early stage nano-cap and micro-cap companies include (I) lowly Enterprise Value/Sales metrics, (II) high levels of recurring revenue and (III) high levels of investment in software development which indicates management are building sustainable businesses based around intellectual property and know-how. We accept investors are making small leaps of faith and in all likelihood not all these company's will fire.

The ideal companies exhibit quite of a few of the below characteristics in our opinion and there really is no perfect combination, rather we like to see a high concentration of the following characteristics.

Domain knowledge, innovation, decent R and D (~15% of sales).
Cashflow positive, or trending positively.
Decent balance sheet, ideally with lazy cash balances, retained earnings, limited dilution.
Revenue growth (higher the better).
Lucrative industry settings (peers earn decent operating profit margins).
High percentage of recurring revenue (subscription, maintenance etc).
Decent client base, ideally with global focus, recent client wins.
Good amount of executive share ownership with recent buying, some youth on the Board.
Website is busy with client interfacing activities (seminars, conference attendances, webinars).
Set-backs are explainable and addressable.
Open and transparent company.




Elecosoft (LSE: ELCO) trades at very acceptable ratios of 1.2 times historical sales with EV/Recurring Revenues a similarly attractive metric of 3 times. On first glance the building software appears to cover the wide space of estimation, visualisation, project management, CAD/CAM design, compression technology and building information management (BIM). The 2014 launch of the bundled product 'ELECO BIMCloud' which incorporates much of this functionality has the potential to be game changing software product that should benefit from 2016 regulatory changes in the UK. The company trades on an EV/EBITDA multiple of 11.3 times for 2015, albeit there is some capitalisation of software development.



Daktronics (NASDAQ: DAKT) designs, manufactures and sells computer-programmable information display systems, including massive sports screens. The $506 million capitalised company (at share price $11.57) has $80 million net cash sitting on its balance sheet, with sales of $655 million expected in the April 2016 year. Investors are looking for an EBITDA of $57.4 million leaving the company on a very reasonable EV/EBITDA multiple of 7.4 times. The price to earnings is a tad more ritzy at 21 times for 2016. The market leadership in this niche area of information displays, as well as respectable financial metrics are the attraction for investors.

The £36 million capitalised UK company Kalibrate Technologies (LSE: KLBT) trades on an EV/Sales metric of 1.6 times for 2015, with its most compelling investment metric being its EV/Recurring revenue ratio of just 2.5 times. The fully taxed 2015 price to earnings ratio at 20.6 times is pretty ritzy however. The story driving the company’s growth is pretty compelling with deregulation of fuel pricing in many countries around the world requiring more sophisticated systems to handle variable pricing strategies in petrol stations. I also like the fact the biggest source of competition are in-house developed systems, which are less likely to keep up with the functionality and compliance reporting required in today’s fuel market. I’m forecasting 10% revenue growth in 2016, with top line revenue growth one of the better facets of this company. The story is complicated by the move to cloud in its infancy, with cloud sales resulting in less immediate profit recognition, while being more profitable over the medium term.

The £38 million capitalised Lombard Risk Management (LSE: LRM) sells risk management and compliance software to a blue chip client base of banks and financial institutions. Lombard’s most compelling investment feature has been its top line revenue growth which has been growing at over 19% per annum (2012-2015). The biggest detractor has been that free cashflow generation which was negative in 2015. The outflow is largely explained by the combined technology and research and development spend exceeding 35% of sales revenue, in each of the last 3 years. The investment rationale, is this large technology spend has peaked and can start falling as a percentage of sales, finally propelling the company into decent free cashflow generation in 2016 and beyond. The Founder being replaced as CEO in 2015 may signal the Board recognises the importance of cashflow generation going forward. The company trades on reasonable EV/Revenues ratio of 1.5 times for 2015 and reasonable EV/Recurring revenues ratio of 3.5 times. This name is also not without corporate appeal and historically has been involved in takeover discussions.


The €72 million euro capitalised German company MSG Life (Germany:MSGL) provides software and consulting services to German life insurance companies as well as health insurance software to US companies. The company is guiding revenues of €105 million euros and EBITDA of €8 million euros in 2015. MSG Life trades on a cheap EV/Sales metric of just 0.6 times and an attractive EV/EBITDA of 8.4 times. The company even trades a respectable Price to Earnings ratio of 13.1 times for 2015. The EV/Recurring maintenance revenue is 4.3 times which is on the more expensive side of the software companies mentioned in this article. One of the downsides for MSG Life is the company has a very poor historical track record of profit delivery.

QAD Inc (NASDAQ: QADA) provides enterprise resource planning software to manufacturers globally. The most compelling feature for investors is this husband and wife run software company, trades on an EV/Sales ratio of circa 1.2 times for 2016. The other compelling investment metric for QAD is its EV/Recurring revenue sits at 2.1 times. While these metrics are very attractive for a software company the price to earnings multiple for the same year at 31.1 times is pretty ritzy. The company is capitalised at around $475 million USD (QADA share price = $26.44, QADA share price =$21.50) and is covered by 5 brokers in the US. The investment rationale here is QAD can raise its EBIT/Sales margins from a miserable 6.2% (2015) to something approaching 15% in future years. The speed the company can normalise its operating margins towards peer margins will determine how quickly shareholders will get rewarded. The company currently has around $105 million net cash on its balance sheet post its recent capital raise with an acquisition likely to be additive to earnings.


The $63 million USD capitalised Top Image Systems (NASDAQ: TISA) provides document capture software, enabling business to efficiently extract data from paper documents, email, mobile, and computerise the data, routing it to the appropriate area within the enterprise. The company’s mobile imaging technology gives it the ability to sell the software on a per usage basis in what should be a booming mobile market for data capture. Top Image Systems trades on very reasonable EV/Sales metrics of 1.4 times for 2015 which is its most compelling investment metric. After the recent acquisition of cloud based documents management company ‘eGistics̵7; around half the company’s income is now recurring in nature with its EV/Recurring revenues a healthy 2.6 times. The company is profitable with medium term guidance being EBITDA/Sales margins are heading towards 15%. The investment rationale is the combination of 10-15% organic revenue growth and a more scalable business model should result in operating profit margins strengthening and shareholders rewarded.



Elecosoft (ELCO) - Software for the construction industry
BUSINESS DESCRIPTION
Elecosoft (ELCO) is a London AIM listed integrated software and services company. This software business was established in 1994 and largely serves the Swedish, German and United Kingdom construction industry or more particularly the architectural, engineering and construction ("AEC") sectors. ELCO's software business is focused on visualisation, CAD/design, estimation, engineering, site control, project management and going forward this will be wrapped up into a building information modelling or BIM product.
The company's core software smarts sits in its estimation software 'Bidcon' which came out of Sweden and its Project Management software 'Asta Powerproject' from the United Kingdom. The company's competence and background around visualization, CAD/CAM software, estimating and project management lend themselves nicely to the 2014 launch of their ELECO BIMCloud product.
ELCO's traditional 'home markets' are UK (26% of sales 2014), Sweden (48% of sales), Germany (15% of sales) and rest of world (11% of sales in 2014) although Elecosoft Asta project management software recently landed a decent reference client in the USA (US State Department of Transport).
The company only emerged as a pure-play in 2014, after a number of very difficult trading years. ELCO sell multiple products mostly though their direct European sales teams (sales 95% direct) while using resellers for other international markets. The company had 186 employees as at 31 December 2014 with historical revenue splits 24% initial licence fees, 45% maintenance and 31% services. The project management teams are located in the UK, visualisation and 3D CAD Germany while estimation and engineering are based in Sweden.

The Swedish business 'Consultec' includes both engineering and estimation software as well as architecture services (modern timbers), Design services (buildings), Estimating services (ventilation and electrical), and construction services (industrial buildings). The Consultec website raises the point that by providing distinct building services in Sweden this makes them better placed to provide relevant software to the industry. Consultec has circa 90 employees with revenues declining from £8.3 to £7.9 million in 2014 with ELCO subsequently restructuring this business.

The calendar 2014 year was the first financial year that ELCO operated as a software only company albeit there was a fair bit still happening. The company changed banks, employed a new CEO and CFO (who has since left) and raised fresh equity capital (priced at 20.75p). The CEO ran the software business of ELCO between 2005-2007 and returned to the company from Microsoft in mid 2014. The flagship product is the project manager software 'Asta Powerproject' with ELECO BIMCloud launched in 2014, also offering potential. ELCO's software product range is closely aligned to many of the roles undertaken in typical construction projects.

ELECOSOFT PRODUCT RANGE - by User Roles / Core Function / Product Name (s)

Designers / Visualization / Interiormarket, ESIGN Software (Germany)*
Architects / CAD Design / Arcon Evo, o2c (Germany)*
Estimators / Estimation, Project Planning / Bidcon (Sweden)
Structural Engineers / Engineering / Staircon, Statcon, Framing CAM/CAM (Sweden)
Site Managers / Site Control / Matrix (UK)
Project Managers / Project Management / Asta Powerproject, Sitecon, ElecoM@trix (UK)*
Main Contractors / Building Information Modelling (BIM) / ELECO BIMCloud (* denotes the inclusion of the above functionality) (UK)

The company launched cloud product 'ELECO BIMCloud' at the end of 2014 which is focused around collaboration and pulls much of the above products functionality (Project Management, 3D data compression, Cloud Functionality, Data exchange) while offering some integration with third party software (i.e. Autodesk Revit).


The company believe the UK Government mandate on the use of building information modelling (BIM) systems from 2016 should provide a positive impetus in the uptake of BIMCloud.

The company has a reasonable presence in Europe as the below brag sheet suggests so legitimately do stand to benefit especially if BIM is more widely mandated.


ELECOSOFT BRAG SHEET

69 from the top 75 contractors in the UK use Elecosoft.
20 from the top 22 contractors in Sweden use Elecosoft.
14 of the leading construction companies in Germany use Elecosoft.
Asta Power Project voted best project management and planning software at the 2014 UK Construction Computing Awards.
ESIGN software GmbH 'FloorMarket' product used by 42 manufacturers in 9 European counties.
100,000 users of Asta Power Project

ELCO argue the construction systems market is fragmented with small players unable to compete because of limited software development budgets, while larger companies don't have the depth and specialty knowledge in their applications. ELCO are bundling more of their intellectual property into their new BIM product. The ELCO software products look to have their architecture largely developed in the server environment so it will take time and money to properly position them into the cloud or a SaaS product.

In 2014 the company spent £2.6 million on software development, with £0.55 million capitalised (2013 £0.4 million capitalised) and £2.05 million expensed. This equates to software development spend as a percentage of sales of 15.8%.

CURRENT SOFTWARE DEVELOPMENT FOCUS

Rewrite and release Arcon Evo CAD design software in 2015
New Bidcon product incoporating functionality from number of legacy products (2015/2016)
Continue to develop BIMCloud functionality
Look for software integration opportunities

VALUATION DISCUSSION

ELCO has circa 75 million shares on issue so at the current 25p share price, the company is capitalized at £18.75 million pounds, while generating sales of £16.5 million in 2014. The capitalisation to historical sales ratio was 1.15 times. The company had net debt of £1.6 million at 31 December 2014, giving an enterprise value (EV) of £20.4 million and an EV/Historical Sales ratio of 1.25 times. The EV/Recurring revenues (2014 maintenance revenue = £7.35 million) ratio was 2.8 times. The company generated EBITDA and operating profit of £1.5 and £0.9 million in 2014, which places the company on an EV/EBITDA and an EV/EBIT of 13.6 and 22.7 times respectively.

The flagship product Asta Power Project grew revenues double digit in 2014, with the Power Project and BIMCloud product expected to be the strongest growing products going forward.





Asta - Deeper Dive
The UK business accounted for 26% of sales in 2014 or circa £4.3 million. Astra is the fastest growing of Elecosoft's software applications and recorded a decent US sales to the US State Department of Transport through a re-seller. Its also Asta PowerProject that forms the basis of the BIM cloud which has decent growth expectations in 2016 and 2017.

BIM came to market in late 2014
Everything linked to architecture design models.
70 BIM providers in the market globally.
100,000 users globally use AstaPowerProject.
Makes the design models available over consumer technology
Designed to IFC standards (Industry Foundation Class) - Current version is IFC4.
UK leader in BIM (Business Informational Modeling)
Asta PowerProject is a Planning tool (US call them scheduling tools)
Asta PowerProject has dash boards, which is a summation of projects.
Works with AutoDesk Revit, ArchiCAD, VectorWorks, Sketchup,Tekla
Asta are Learning themselves and evolving.
Lots to be gained by collaboration.
UK is taking the lead in the adoption of BIM which is changing the way projects are delivered.
"Scheduling software in PowerProject is tried and tested, and combined with 3D functionality its an obvious marriage" [Client comment].
Can link to third party price data bases.

[rathkum] 14/7/2015 11:34

Six Reasons Asta Powerproject Is the Best Construction Management Software
Posted on July 8, 2015 by CatAdmin

If you ask the average construction manager what his favorite construction management software is, he’d probably list off Primavera P6 out of habit. With Primavera’s massive market share, it is unlikely that he’s tried anything else. Despite their market share, however, we believe that a little-known, but very powerful competitor could be the best construction management software in the industry.(This is the bit I like coming from a USA company)

Asta Powerproject may not be the market leader in the United States, but it’s used frequently internationally. With over 85,000 users worldwide (and counting), they’ve evolved past fringe competitor and are poised to become major players in the US construction management industry.

So why are we such big proponents of their software? There are six primary reasons we believe their construction management software is the best in the industry:

1. Asta Powerproject is Easy to Learn
This could be the hardest thing to find in construction management software. Most of the industry is weighed down by clunky, difficult to use software that slows down projects. Asta Powerproject, on the other hand, is built to make sense. Its user-friendly interface features drag-and-drop functionality that makes the software easy to pick up for anyone on your team.

2. Asta Includes Flexible Licensing and Deployment Options
Unlike other software platforms that force you to get a new license for every user, Asta allows you to limit your licenses to the number of people using the software at the same time. This means that you no longer have to choose between paying more for licenses and communicating with your team. To see the cost savings for yourself, check out our construction management calculator and find out how much you can save!

3. Asta Powerproject Makes it Easy to Produce High-Quality Reports
Senior management doesn’t like surprises on the construction site, which is why reporting is arguably the most important functionality that your construction management software needs. With Asta Powerproject. You can produce professional tabular and graphic reports quickly and easily, as well as visually monitor resources and cost relationships for better forecasting.

4. Asta Powerproject Makes Construction Management Easy – Regardless of Platform
Gone are the days of having to start your project plan over when you need to switch platforms. Powerproject seamlessly integrates with Primavera P6, Suretrak, and Microsoft Project. Additionally, integrations with Microsoft Outlook, accounting, BIM, and ERP systems ensure that everyone involved in your project is on the same page at all times.

This also means no sweating over costs and third-party participants. With its robust integrations, Asta Powerproject is designed to reduce waste and bottlenecks, letting you focus on getting the project done right.

5. Manage Multiple Projects With Robust Enterprise Functionality
Not only can you get a fully-detailed view of single projects, but you can also have full visibility over multiple projects with Powerproject’s Enterprise functionality. This allows you to see as much or as little detail as necessary while keeping an eye on every project you manage.

6. Powerproject is Mobile-Friendly

Updating from the job site just got a lot easier thanks to Powerproject’s mobile functionality. Mobile-friendliness makes it simple to monitor assigned tasks and updates anytime, anywhere.

If you’re interested in Asta’s Powerproject software for your next project, the team at Catalyst is here to help. We are experts in construction management and we have helped hundreds of clients implement Powerproject for their staff. Simply contact us and we will be happy to help!



About Catalyst
Since 1994, project management and scheduling software have been our passion, as well as our business. Catalyst is an Oracle Platinum Partner, a certified Oracle Primavera Training Provider, and a Premier Solution Provider for implementation and training of Oracle Primavera Solutions. We are also proud to be the leading distributor for Asta Powerproject in the U.S. as well as the provider of all first-tier U.S. support.



We have successfully served thousands of clients and hundreds of projects. We offer information, analysis, and recommendations on best practices that improve our client’s project management capability and their bottom line. In addition, we provide skilled experts to client teams when they need to fill internal skills gaps.



Catalyst’s primary resources are its exceptional talented project consultants and decades of experience designing and implementing project management processes and technology. Both private and public organizations rely on our industry expertise, project controls experience and on our market-proven technology solution models.

[lgw500] 13/7/2015 12:36

The best way he could be heard would be to purchase a sensible shareholding in the market along with the MD. The executive directors are conspicuous with their lack of share purchases.

[mrpotatohead] 13/7/2015 11:25

agree, very underwhelming. hope he has his own voice.

[lgw500] 09/7/2015 09:03

Ansc,
Shares are on offer at 28p. How many would you like?

[lgw500] 09/7/2015 09:02

Oh dear, this gets worse! Why was this candidate not considered first time around when they spent two years looking for an FD? Has he improved so dramatically in 6 months? This is very underwhelming.

[ansc] 08/7/2015 08:50

Appointment of Group Finance Director

Elecosoft PLC ("Elecosoft" or the "Company") - 08 July 2015

Appointment of Group Finance Director

The Board of Elecosoft plc is pleased to announce the appointment of Graham Spratling ACMA, 48, as Group Finance Director.

Graham Spratling joined Elecosoft in 2007 as Group Financial Controller prior to which he had been a member of finance teams at Barclays Bank and Nestle UK. He then became a key member of Elecosoft's finance team during a very challenging period for the Group due to the impact of the major recession affecting the UK construction industry.

John Ketteley, Executive Chairman of Elecosoft, commented:

"I am delighted that Graham Spratling has agreed to accept the appointment as Group Finance Director of Elecosoft."

Nick Caw, Chief Executive of Elecosoft, said:

"Graham Spratling has an unrivalled knowledge of the finances and systems of the Elecosoft Group and my colleagues and I look forward very much to working with him in this capacity."

[mrpotatohead] 07/7/2015 11:24

Interesting spat!

I agree it is concerning when an FD leaves. If it is a material hole, the Board will now be aware of it and would have had to have made an announcement.

Having met the MD, I reckon it is probably a chemistry issue. As simple as that.

I continue to hold as I reckon there is plenty of upside potential still.

[ansc] 06/7/2015 10:57

Rather than continually bleating about ELCO'c poor management/PR on the bulletin board, why didn't you raise these topics at the recent AGM (or even the one last year at which you also chose to keep mum)? I'm sure Mr K would appreciate your expert guidance on improving the way the company is being run.

As for "I think if I chose to sell my holding it would have quite an impact on the share price!", that begs the question why you would want to leave a large sum invested in such a poorly run company? Surely there must be umpteen other companies on the LSE where the risk involved would not cause you so much anguish.

[lgw500] 06/7/2015 09:32

I think if I chose to sell my holding it would have quite an impact on the share price! I have no problem contacting anyone - my point is that it simply should not be necessary. Investors in this company have had to put up with a lot of bad news over the last five years so there is simply no excuse for poor management of unexpected news. If this company ever wants to be taken at all seriously, it has to be PR smart.

[ansc] 03/7/2015 12:13

Seeing as you do not appear to have had the courage to speak to ELCO's chairman yourself on this matter, I've spoken to him myself. All I will say is that none of your four suppositions above are correct.

If you are that concerned about the possibility of the company's share price collapsing for whatever reason, why not take the obvious route for peace of mind by disposing of your holding. I feel sure the share price would not collapse if you chose to do so.