Share Name Share Symbol Market Type Share ISIN Share Description
Elektron Plc LSE:EKT London Ordinary Share GB00B0C5RG72 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 7.25p 7.00p 7.50p 7.25p 7.25p 7.25p 250,000.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 43.3 0.8 0.4 18.1 13.49

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Date Time Title Posts
30/3/201710:58EKT - Looking Good!55.00
27/3/201720:34Elektron Technology PLC1,117.00
25/3/201710:06The Elektron Thread209.00
21/3/201718:55Ekt fit for the bin14.00
04/3/201718:13Elektron +30% in last 7 days79.00

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Elektron (EKT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-03-30 11:30:517.25250,00018,125.00O
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Elektron Daily Update: Elektron Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker EKT. The last closing price for Elektron was 7.25p.
Elektron Plc has a 4 week average price of 7.13p and a 12 week average price of 7.13p.
The 1 year high share price is 8.63p while the 1 year low share price is currently 5.13p.
There are currently 186,099,851 shares in issue and the average daily traded volume is 138,370 shares. The market capitalisation of Elektron Plc is £13,492,239.20.
tilly99: Seems plainly obvious that a low share price suits them while they have the option to buy lumps at mid market price off the JsopDefinitely bad practice
spec7: The thing is people have been going on about all that is wrong with Elektron for years. The market knows, investors know, the staff know and i have no doubt the management themselves know but for whatever reason the major shareholders are happy to use Chuckit as a vehicle to absorb any profit from the company and keep the share price down at rock bottom. It obviously suits their needs to have a money pit like Chuckit to the extent it must be becoming slightly embarrassing it's now so obvious. I think you would have to be slightly lacking to think a company could form a stand alone sub company like checkit, pour millions of £'s into it with no obvious sales or likelihood of it ever repaying its costs...and expect people to believe this isn't planned. Think about it ;-) People like Kinder Perloff and Graeme Edwards did not get as rich as they are by backing people like Daley unless they have an ulterior motive/reason.
simon templar qc: Black, Tilly, Rod, Now come on the truth of the matter is Daley bought a load of shares while she was in negotiations which was insider dealing, Pat myself and D&A were all in agreement and all signed for removal of Daley! Now that is the truth! What happened is Judith thought it would be a close call she was worried if the matter was placed in the public domain is it would affect the share price then refused to act further! Those are the facts apart from one point and that was a deal done to sell her shares! All the above facts will be dealt with in the next round of litigation.
beeks of arabia: Tilly, are you saying that, if the current management were removed, investors would suddenly come flocking back and the share price would fly up?Apart from the current directors selling their holdings down which would likely depress the price for years, there is no guarantee that another management team would do any differently.
simon templar qc: It was all in my court proceedings. Brief details: -Reckless acquisition strategy -Reckless financial control -Excessive board remuneration and bonus payments -share price manipulation -deceit -insider dealing -breach of confidentiality The list goes on.
yoyoy: Elektron Technology Conclusion of Strategic Alternatives Process RNS Number : 1029K Elektron Technology PLC 20 June 2014 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, RUSSIA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL Elektron Technology plc ("Elektron" or the "Company" or the "Group") Conclusion of Strategic Alternatives Process Termination of Formal Sale Process and End of Offer Period Intention to Raise up to £3.5 million via a Placing and Open Offer Elektron Technology plc (AIM: EKT), the global technology group, announces the conclusion of the Strategic Alternatives Process previously announced on 7 April 2014 and that it is in advanced negotiations to raise up to £3.5 million via a placing and open offer. As part of the Strategic Alternatives Process, the Board received various approaches from third parties interested in making an offer or providing additional capital funding for the Company. The most attractive approach was an indicative offer which valued the Company's equity on an indicative basis at 10 pence per share. This indicative offer was received on 8 May 2014 and was subject to a period of further due diligence and there was no certainty that a firm offer would actually be made nor as to its terms. This approach included a precondition that certain specified shareholders holding in aggregate over 55 per cent. of the Company's issued share capital provided hard irrevocable undertakings to accept an offer made by the potential offeror at the level of 10p a share. John Kinder and Keith Daley, being two of the Company's major shareholders, holding in aggregate approximately 25.95* per cent. of the Company's issued share capital, confirmed in writing to the Company that they were not prepared to accept an offer at 10 pence per share nor to give hard irrevocable undertakings to accept such an offer. On 16 June 2014 the Company received a revision to the approach outlined above. This revised approach excluded any precondition in relation to the provision by John Kinder and Keith Daley of irrevocable undertakings to accept an offer at the level of 10 pence per share, but still required certain shareholders holding in aggregate over 32 per cent. of the Company's share capital to provide hard irrevocable undertakings to accept an offer at this price. In addition, as part of the preconditions of this revised approach the potential offeror would have needed to reach agreement with Messrs Kinder and Daley in respect of their own shareholdings. As part of the Strategic Alternatives Process, other potential proposals considered by the Board have included an equity fundraising to be supported by shareholders and/or third parties. The Board received expressions of interest in participating in a fundraising from several major shareholders including Keith Daley and John Kinder. In view of this, and the fact that Keith Daley and John Kinder, together with John Wilson, are part of a Concert Party, it was inappropriate for Keith Daley (Executive Chairman) and John Wilson (Chief Executive Offer) to participate in the decision-making process as to which course of action should be pursued. An Independent Committee of directors was, therefore, formed comprising Tony Harris and Ric Piper, both of whom are independent non-executive directors, and Andy Weatherstone, the Chief Financial Officer (the "Independent Committee"). The headroom on the Group's working capital facilities reduced significantly in the prior financial year and as at the Group's year end on 31 January 2014 the Group had headroom of £1.1 million. Whilst the Group has generated cash in the first quarter (to 30 April 2014) of the current financial year it has experienced some reduction in sales in May resulting in a fall in available headroom given the Group's principal source of working capital is an invoice discounting facility. The Group is currently operating on low levels of headroom. As a consequence of the fall in headroom and the Group's performance in the past year, the Group's principal lender, HSBC, and Elektron have entered into amended bank facilities. These amendments reset future covenant tests. In support of Elektron's current fundraising strategy, a new test has been introduced that will require the Group to maintain a minimum headroom of at least £1 million with effect from 30 June 2014. Failure to meet any of the covenants would technically give HSBC rights to step in and protect its position, at which time the Board will potentially have to consider options which may be destructive of shareholder value. Accordingly, the Independent Committee, mindful of the Group's financial position and the requirement of its banking arrangements and on the basis there could be no certainty that the conditions of the indicative approach referred to above could have been satisfied in the required timescale, if at all, has determined that an equity fundraising is the appropriate solution at this time. The Independent Committee has given consideration as to the best way to structure the proposed equity fundraising, having regard to, inter alia, current market conditions, the Company's near-term funding requirements, the level of the Company's share price and the importance of pre-emption rights to shareholders. After considering these factors, the Independent Committee has concluded that the most suitable option available to the Company and its shareholders as a whole is to structure the equity fundraising as (i) a placing (expected to be effected by way of a cashbox placing) and (ii) an open offer to shareholders with an excess application facility allowing existing shareholders to apply for further shares. The Company is in advanced negotiations to raise up to approximately £2.3 million (before expenses) through a placing with existing investors of new ordinary shares of 5 pence each (the "Placing Shares") at a price of 5 pence per Placing Share (the "Placing Price") (together the "Placing"). The Company also intends to raise up to a further approximately £1.2 million (before expenses) by way of an open offer of new ordinary shares of 5 pence each (the "Open Offer Shares") to existing shareholders at the Placing Price (the "Open Offer"). Existing shareholders would have the opportunity to participate by acquiring Open Offer Shares pro rata to their current holdings with the option of applying to subscribe for further shares under the excess application facility. To the extent that additional Open Offer Shares are not subscribed by existing Shareholders, investors including John Kinder and Keith Daley (among others) are expected to commit to subscribe for a certain number of these shares. If successful in its intention to raise the new funds, the Company intends to use the net proceeds of the Placing and Open Offer to reduce its borrowings with the bank, to fund working capital requirements and to invest in new product development and marketing. All indicative offers for the Company have now been rejected. The Board has decided to terminate the Strategic Alternatives Process, which includes a formal sale process under the City Code on Takeovers and Mergers ("City Code"), with immediate effect. Elektron has received confirmation from the participants involved in the formal sale process that they are no longer considering an offer for the Company. Therefore, the Company is no longer in an offer period under the City Code and accordingly, the requirement to make disclosures under Rule 8 of the City Code has now ceased. * Excludes Keith Daley's Joint Share Ownership Plan interest in shares held under the Elektron Technology 2012 Employee Benefit Trust. Including this further interest, John Kinder and Keith Daley are interested in aggregate in approximately 29.90 per cent. of the Company's issued share capital. For further information, please contact: Elektron Technology Keith Daley - Executive Chairman +44 (0)1223 371 000 John Wilson - CEO Andy Weatherstone - CFO
patviera: Haha yes daley will be in discussions about a lofty bonus at this time and will be staring that without him ekt would flounder..lolLook at the share price activity just before daley purchases his stock and just afterIt's as if the buyer pulls away so daley can buy cheap stock!!You couldn't make it upThe sooner Daley leaves the betterHe really has been the worse chairman on Aim and has ruined what was once a good company with great prospects Now all decisions made are how can Daley benefit at the expense of shareholdersAll about Daley There will be thousands of ex and current shareholders praying that Barry has success in the courts
patviera: Upgrading my Ekt price target from 10p to 12pDowngrading my share price tgt from 1950 to 1800Tin Hat Time
patviera: Not sure about that as he ploughs his money back into ekt so he must be very committed to a stronger share priceMaybe he is instigating the right strategy,that's not my gripeMy gripe is shareholders here have lost fortunes cos of his takeover and treatment of hartest and cos of the disastrous move out of China which cost us millions of poundsSo why the hell is he getting a bonus and the chance to buy 4m shares at a 15 year low in our share price?Surely he should be sensitive to shareholder losses? Surely he is not deserving of a bonus of 80k when the previous non execs didn't set him tgts to get one?Or is it because the derivative action is now over so he can do as he pleases?? He won in court and can now go about increasing his large remuneration while us shareholders continue to suffer??!!Maybe he should remember when we had 9m in losses and very nearly went bust? Maybe he should put himself in our position and ask whether no dividends and a 80 pctcapital loss from the highs is a nice position to be in??!!
spec7: As i see it the purpose of any listed company like this is to create cash flow from sales and return investor value in the form of dividends and a rising share price Elektron was a perfectly good company that did all this. Now all is being risked to change the market for Elektron with the sole purpose of doing exactly what the original Elektron was doing anyway IE: create cash flow from sales and return investor value in the form of dividends and increased share price. Unfortunately with Chuckit being a money sponge lining a bottomless pit and a management rewarding themselves with bonuses for 8 years of utter failure it's difficult to see this going in any other direction than down the plug now.
Elektron share price data is direct from the London Stock Exchange
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