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% 7.125p 7.00p 7.25p 7.125p 7.125p 7.125p 0 07:53:52
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 43.3 0.8 0.4 17.8 13.26

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Date Time Title Posts
27/4/201707:50EKT - Looking Good!246.00
21/4/201721:32The Elektron Thread210.00
27/3/201720:34Elektron Technology PLC1,117.00
21/3/201718:55Ekt fit for the bin14.00
04/3/201718:13Elektron +30% in last 7 days79.00

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Elektron 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 7.13p.
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 2,748 shares. The market capitalisation of Elektron Plc is £13,259,614.38.
98376995: Simon - The EBT was never about bolstering the share price or providing an incentive for management to run the company well. It's sole purpose was to dilute holders who might oppose the Chairman's rule and vote him out. By creating the new shares which had voting rights but who's votes were controlled by the Chairman, he put himself in a much stronger position. Buy back of shares from the market with company funds further strengthened this position. That is why he is still in post busy destroying shareholder value. The long term game plan is to run the business into the ground with the use of a cash hungry red herring (such as CheckIt) which consumes vast quantities of cash and delivers nothing but which has little negative effect on the real cash generating section of the business, Bulgin. The idea being that when it goes into administration it will be bought at a fraction of the true value and those behind this scheme will have a nice business generating profits of a few million pounds a year. This is the reason the offer of 10p from Microgen was rejected. This is the reason the company is disposing of its businesses one by one. A large group of companies would be far more attractive and appear on the radar of other parties if it went into administration and also probably be out of the financial reach of the Chairman. By reducing the size of the business so that it is just Bulgin (CheckIt will be deemed a failure and closed by then) the Chairman stands a fairly good chance (especially as he is already a major shareholder of the business in administration) of acquiring it cheaply.
tilly99: Interestingly Neill Ricketts who Daley ousted managed to raise 1m gbp at a small discount to its share price in 24 hours over the weekend as private investors love him as do the institutions Daley has no support at all except from Kinder who is saving his jobI won't be invited for champagne after the Agm this year as that was only for friends of the BOD in the pastI v much doubt anyone will turn up again at our AGM..what a sad state of affairsOur directors refuse to promote ekt..Ricketts promotes Versarien and was at the investor show recently..he also respects all his shareholders Looks like Daley backed the wrong man..our man lost Ekt 6m gbp moving out of China ..Ricketts is a success story Still no contract wins for CheckitIf we see no improvement in Checkits prospects I will be calling a meeting with a major shareholder
yoyoy: "The JSOP alone was fraudulent, the company intended to utilise company money to buy back shares, which would guarantee they reached their share price target and the Vice Chancellor recognised that!" I thought that EKT just issued new shares to satisfy the needs of the JSOP and I thought that all major shareholders were consulted and had agreed. Not sure they understood the consequence of what they had agreed - an immediate 12% dilution to their holdings.
simon templar qc: The JSOP alone was fraudulent, the company intended to utilise company money to buy back shares, which would guarantee they reached their share price target and the Vice Chancellor recognised that! Now make no mistake about all this I am determined to ensure justice is carried out and the perpetrators brought to account for all the damage they have done both to the company and shareholders equity and the damage they have caused to myself and my family. In fact I have sent a number of emails off today in respect of an on-going fraud there could be more parties involved soon.
tilly99: Whats amazing is that non execs can't wait to abandon ship after a year or two at ektAckland and many others couldn't stand what they sawThe only non execs that Daley managed to recruit now are the two representing kinder and D and a!!!Shambles But as long as daley gets his 250k salary and 100k bonus and his free share options and he keeps kinder sweet he doesn't give a t ss about shareholders institutions or the share price He's happy happy happy
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.
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: Upgrading my Ekt price target from 10p to 12pDowngrading my share price tgt from 1950 to 1800Tin Hat Time
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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