||EPS - Basic
||Market Cap (m)
Real-Time news about Expansys (London Stock Exchange): 0 recent articles
|graham1ty: Agree with you Harvester, cannot understand why so little speculation. Buy at 0.525p and you have an exit with no downside. And he might ( heaven forbid) bid at 1p.
I think that he has to announce the bid tomorrow: that is 28 days after his first announcement.
He cannot treat it as his own, there are common laws ( not always enforceable)on protecting minority shareholders. Look at the dog PGY where WB owns over 80%.
What he might do is let the "bid" go through, see if a few are actually willing to accept this derisory price, wait for it to fall ( which it might if people think he will misuse it, or they do not want to be a minority, or just speculators getting out as there is no higher bid) and he could then just scoop up more. There are rules about having to re-bid if you already have a position over 30%, but I suspect at this level he thinks it is a steal.
I have said all along, I think there was a forced seller, no other buyer, he offered a derisory amount and was very happy to get the shares. The only inconvenience is having to make this bid, but even if he only gets a few acceptances, the cost of the bid ( ie expenses for lawyers etc)is worth paying for having picked up the L&G stock for nothing.
It is also in his interests to have kept a very low profile. Otherwise, had he made positive noises about the Company or his plans, the share price might have run away.
I am slightly concerned about the "Charterhall" defence, named after a bid twenty years ago. The Company repelled a bid by saying "trading has deteriorated, the balance sheet is rubbish, you would not want to buy us". The bidder got cold feet and withdrew. If the offer document details current trading as rubbish, and suggests the Co has no future, then there might be a rush for the exit. BUT the Offer Doc is PJs doc, it is NOT a company document, an ( in theory) he should have been arms-length from operations for the last month and the non-Execs have to repel him by saying the bid is too low.
all speculation: we should know more after hours tonight, or tomorrow|
|lbo: From a recent house broker N1 Singer report at the time of the AGM late last year:
XPS trades on a prospective Apr 2014 PER 3.5 falling to 2.8 April 2015 or 3.0x on a cal 2014 basis, (0.6x EV/EBITDA)
Our analysis suggests the intrinsic value of 1.6p is almost triple the current share price.
|opaldouglas: Why? Thats a ridiculous comment.
XPS is currently valued at £6.5M. Minus cash reserves of £3M gives an actual value for XPS operations of £3.5M. If we opt for a conservative PE of 7.5 XPS need only to pull in a profit of £466,000 to sustain the current share price.
So if XPS get anywhere close to £2M profit this is an absolute bargain!
More importantly is the outlook moving forward and confirmation the worst is behind them.|
|graham1ty: Are there any long term holders on this thread who can fill me in on the history ? It looks dirt cheap. However, has not the great Peter Jones lost £25m on his stake ? Has there been press comment on this ? What really caused the catastrophic share price collapse ? one set of results or accumulation of trading news ? It still has cash yet is valued as if going bust ?|
|treacle32: So this is all time low on the share price in its history. Bottomed could have been reached and maybe only way up from here. DYOR.|
|lbo: the buying and move up in share price!|
|saucepan: "Major new contract". That should help share price momentum further.
The Thailand market represents a significant growth area for the Group and the DTAC agreement is a milestone in the strategy of reaching new, high growth markets. Excellent.|
|saucepan: Certainly a sudden "sea change" on the interest front and in share price momentum. Long may it continue.|
Thanks for your interesting post. I hope you stimulate some sensible discussion from others who are better at reading accounts than me.
If one subscribes to the efficient market hypothesis, there is a reason for the share price to be so bombed out. Maybe you have hit the spot.
On the other hand, XPS turnover is growing excitingly. Cash is growing (something must be getting to the bottom line?), and what is happening with its inroads into business in Asia sounds very promising.
XPS does not appear to be a company going to the wall, and that is why I think the share price will recover and that that process is starting. The chart seems to be saying that things could be on the turn after a long consolidation period.
If I am wrong, I have a stop in mind.
It would be great to hear of your further thoughts if you have the interest.|
|geckoman: Until news, this will head wherever AIM goes. Steep drops from highs around 2.20-2.40 in March/April have been exactly in line with AIM index. Notably, the falls have been on low volumes. In the last four weeks, the accelerating decline has been on extremely low volumes, with on average less than 0.4% of the share price traded each day. If big IIs were bailing, we'd see far greater volumes than the odd 1-2m (shares) sale. I'd estimate that 90% of trades are below 300k in volume, and again most are for odd amounts of volume (most PIs buy by round value, most IIs by round volume): all indicating that these are distressed PIs bailing.
On the downside, this does of course mean that with current market sentiment, these are a longer-term hold: any positive news in the RNS the market will ignore, while it will jump on the negative. The results may be great (and I have confidence they will be strong and an improvement on last year): any share price rise will likely be more modest and build exponentially as the market move back into risk-on mode.|
Expansys share price data is direct from the London Stock Exchange