||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Idox Share Discussion Threads
Showing 4201 to 4224 of 4225 messages
|Boros10, IMO two things need to change in this regard:
1. Shareholders should not dis-apply preemption rights routinely at each AGM. To an extent, they've really only got themselves to blame if they do.
2. Regulations should change, so that only shareholders not conflicted by participating in the placing may vote to authorise the shares issuance on a pre-emptive basis.
In this instance, the issuance was sufficiently large that it required a GM. However, there is no realistic possibility of objecting, as those voting FOR will be the conflicted beneficiaries of the discounted issuance. Note that HH are defined as a 'related party' under AIM rules, but all that means is that the conflicted Nomad has to give them the Nod. If it was a premium listed company, they'd be barred from voting, so what's the difference on AIM?|
|Maybe a good time to take profits and let those that stumped up the funds for the acquisition run with it for the time being, or they may be taking their profits sooner rather than latter.
Expensive acquisition and this one could be the one that does not pay off, DYOR.|
|I am also annoyed at the absence of an Open Offer. A deeply discounted placing represents a straight transfer of value from private investors to the institutions. I tried to participate in the accelerated book build without success. I was told that priority had been given to existing institutional shareholders. Really galling. Its why I prefer companies that are able to grow organically. I made an exception here because Richard Kellett Clarke had undoubted ability and was private investor friendly. Yet to form a view on his replacement. The acquisition looks expensive if you add in the corporate bond debt. The headline numbers in the final results look good but free cash flow was poor. Receivables were up heavily. I may have missed it but I can't see any commentary explaining the poor FCF. Nothing in the N+1 Singer note either. At least the Company now only adds back amortisation on acquired intangibles to calculate its adjusted EPS. A big improvement on its previous practice of adding back all amortisation including that arising on capitalised software development costs.|
|Snn had something a couple of weeks back where as part of the deal all holders at the time of the rns got the chance to get 1 share for every 14 held at a fixed price. It was a nice touch especially seeing as they've gone up 30% since.|
|Phillis: well I bought some at 6.65p so I had a ten bagger yesterday but not this morning. But they do not have to rely on lots of small investors if they do an Open Offer alongside a Placing - they just need to have enough shares available to satisfy demand. Other companies have done this with no difficulty.|
|Shame us small investors are being diluted. It probably explains why P.Lilley doesn't reply to me (depechedmodem)on Twtr
I've enjoyed recent OO/RI's with MRO/SKS.
Ah well, diluted or not, 100p by Xmas 2017?|
Agree but if you were a CEO you would not want to have to rely on hundreds of pi s
You could have probably bought in the market this morning at around the placing price as Idox's brokers were obviously in the market yesterday afternoon pushing up the price to 70p
This business gets most of its sales and profit growth from acquisitions
Amortisation of goodwill is therefore a real charge to the P&L so I wish they would stop focussing on Adjusted eps and stick with conventional eps
Of course this has the disadvantage of making the business look fully valued and we dont want that do we!
I have been in this since 10p and although I have topsliced a bit, I remain along for the ride|
|Yes but I am being diluted without the option of taking up shares, at what is likely to be a discount to the previous market share price - at least the reaction of the share price today indicates that!|
|R-L, If they do as well with this addition as they have with others in the past then it can only be positive in the longer term, or take profits and re-visit.|
|Double Post error.|
|Really hate the fact that there is no Open Offer for smaller shareholders alongside the placing. Will likely be voting against the Placing therefore. Suggest other investors should do likewise.|
|Nice sets of results - Bottom line if that the Total Equity is up a lot as well.|
|"It plays to the ...........agenda"
What kind of garbage is that?|
|Been buying recently and two good rns today.|
|Results tomorrow. Looking perky today.|
|looks like Jeanesy has given up on investing|
|Don't understand where you're getting that from Jeanesy - the sterling revenue reports in sterling = no change
The foreign revenue coverts back to sterling = higher sterling revenue post sterling depreciation.|
Idox reports in sterling|
|But surely then Alphabeta two thirds is uk and therefore overall revenues will be down ?|
|Just had a further thought - one third of the revenue is non-UK here, with the £ down c18% post referendum that's 6% to add to ongoing revenues (and a chunky add to profits too).|
|I suspect investors are being cautious about public sector purchasing post the referendum. If so this is probably overblown in my opinion given that Idox has nearly 90% recurring revenue. From the interims:
'89% (2015: 88%) of Idox's half year revenues were derived from recurring contracts with customers and from repeat customers from whom the Group had derived revenues in the same period last year; this gives the Group significant revenue visibility and is evidence of Idox's strong relationships and focus on customer service.'
Should there be further public sector spending constraints (unlikely IMHO seeing as there is likely to be some loosening in public spending) Idox has also flagged that this has played into it's hands to date:
'Public sector spending constraints continue to drive this market to consider new and innovative ways of doing things as well as encouraging further consolidation around core domain expert suppliers.'
Finally, the half year flagged posting results 'at least' in line with expectations. Since then Idox has announced two acquisitions and we know it has an excellent track record over the years of integrating these well and then leveraging their existing dominance within local government to win further business (I saw a presentation of theirs back on 7th September and they have a 58% share of planning, 54% building control, 39% environmental health, 72% licensing). Effectively new holders at c61p are getting these earnings upgrades for free.
There was a pre close trading statement on 17th November last year. I've used 60p as a decent base to add ahead of these but this is just my opinion, I hope this helps but please DYOR.|
|The price always seems to drop in the late afternoon session atmo after a slight rise in the morning.. all seems very strange. price is getting to a point to tempt me , but im not confident that i might be trying to catch a falling knife. Anyone know why it has fallen so much?|
|Trading statement usually mid November, finals normally mid December. Half year results in June stated confident of at least meeting market expectations for the full year.|
|Shareprice continues to fall here. Starting to get to an interesting price for me. When are the next results due?|