||EPS - Basic
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Ensor Share Discussion Threads
Showing 901 to 917 of 925 messages
|Tiswas,I think they have received the £800,000 contingent consideration from Ellards due March with a further £300,000 not yet received.|
|Dir payoffs. Head office closure?|
|davidosh seems to have the ear of the directors so I would be interested in his take on this and whether we can expect a letter setting out the final numbers.
Certainly at 30/9/16 they reported £10.37m cash and they should have received £6.2m cash for Ellard with £1.1m deferred and/or subject to performance whilst for Woods they received £0.4m with £1.725m to be deducted from proceeds.
So quite a difference between £16.970m and the £14.473m shown in the filing, I hope we receive an explanation.|
|I suspect people think the NAV is the upper limit for VLE, but that is, of course, nonsense. Rightmove is valued 800+ times tangible NAV!!!!|
|:-) That's true EezyMunny. The penny doesn't seem to drop to people valuing VLE they'll sell a subsidary above NAV and the share price will go up by the increase in NAV. The market doesn't seem to take the extra step to say 'what else have they got and what's it worth when sold' Very reactive!|
|VLE has subidiaries turning over £33.2m pbt £2.63m which are being valued at £4.5m at 600p. Not a struggle at all.... ;)|
I can only guess that they weren't buyers available at the time willing to take the whole concern so they were forced down the piecemeal route.
You will though struggle to find a quoted company turning over £36m at 9% op margin for £18m|
I agree this doesn't quite stack up in Sept they had £10.3m in cash, they should have received £7m (£6.2m + 800,000) from Ellards and yet they state they only have £14.4m in cash?|
|If the July 16 Balance Sheet had £17.5m of Net Assets, then Ellard and Woods were sold for £9.5m (a premium of £3.5m to NBV), then that should be Net Assets of £21m. The businesses were profitable, so where on earth has £3m disapeared to?|
|To be fair EezyMunny when you said 65p it wasn't clear that it couldn't be sold as a complete company (which should have raised a higher price imo) and also then spending £6m on the pension annuity which would not have been required for clean sale.
A £36m rev business with an operating margin of 9%, no debt and a £2m pension deficit should make a bit more than £18m imo.
The directors (whom I have met) have botched the sale here on a number of levels which has led to a poorish though profitable outcome.
Agree regards VLE - is currently cheap but when hasn't it been? I hold a decent amount.|
|Told you so. Even my 65p target was over optimistic.
If you want another try at a sum of the parts valuation try VLE, which looks to me to be as terribly undervalued as ESR was overvalued. Time will tell.|
If you log in here
that will take you to the Filing History for ESR and the fourth item down (Declaration of solvency) includes a balance sheet submitted by the liquidators.|
|Good work Strathroyal but disappointing result if you are correct.
What did you look at exactly, is all the cash now with one company or did you have to add up the subs?|
|Figures are now on Companies House. The surplus is £18,135,292 which I calculate to be just over 60p per share, a 10% loss for me!|
|Anyone spoken to the liquidators to see where they are with things? Do we know if they have received the cash from the company yet?|
|A number of documents relating to the winding up are in the process of being made available on the Companies House website and will be viewable in 5 days. I cannot see that this information is available on Ensor's website at the moment.|