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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Nmcn Plc | NMCN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 117.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 117.50 |
| Top Posts |
|---|
Posted at 21/6/2021 17:31 by eezymunny I think the big new investors can´t apply for open offer shares? So more available for the muppets.... |
Posted at 21/6/2021 13:20 by cc2014 "Up to a further GBP5.0 million will be raised through the Open Offer of up to 25,000,000 new Ordinary Shares in nmcn (the "Open Offer Shares") at the Issue Price" (£5m divided by £25m = 20p)My interpretation is that the existing shareholders of which there are around 10.4m can apply for 25m shares in the open offer. So, roughtly for every 1040 you own you can apply for 2500. 1040 shares are worth £1,976 at 190p per shares. You can apply for 2500 at 20p = £500 As far as I can see existing shareholders are getting diluted harshly unless the Moyle family do not or are unable to take up the OO and other investors can take up the excess) |
Posted at 21/6/2021 09:13 by cc2014 On reflection I still don't get it either.10m shares in issue at buy price of £1.90 = £19m. 10m shares have the right to buy in the OO 25m shares at £0.20 So, average 10*1.90 + 25*0.20 = 24/35 = 68.5p if you buy now But I'm pretty much prepared to bet that after everything is done NMCN new share price will settle at 20-25p. Maybe 30p. Surely not as high as 68p? I guess the argument is that you are buying into Tinkler with a track record (which you may see as good or bad, there's alot to go over, possibly some synergies with other things he's involve with). But on the other hand Tinkler is buying it at less at 20p as the £10m bridging loan he's getting 62m (not 50m) shares which I make a huge amount of interest for 2 months. And then there's the "is £24m enough to sort out their cashflow or will they need more?). I do get the argument that buying 1 share entitles you to maybe get more than your fair share at 20p but looking at how many small trades have been going through it looks like lots of people have that thought process which will dilute the opportunity. I'm sorry that's all I can offer. The share price doesn't look right to me. And all this to buy into a company which will make a loss again this year, presumably has now a terrible reputation with its suppliers and a questionable one with it's customers. Something is not right. the share price trended towards £2 in the week before this announcement as the insiders had knowledge, but they and the rest of the market seem to have come to a completely different conclusion to me. I'll take my chance and see if I can buy near 20p post offer and if I don't understand and miss out, there are 2000 other shares in the UK for me to look at. Edit: but NMCN will have more assets after all this, through the cash injection. Tinkler is effectively buying most of the company for a £10m loan and £7.5m of equity. Tbh I'm not sure why. £17.5m for something that hasn't made a profit in 5 years, can't count and we can only guess the profitablity going forward seems a bit rich to me. These deals though, the investor rarely loses. They can pay themselves what they want, vote for whatever they want, load it up with debt, all the usual stuff. If I was him I'd want to be sure that there was underlying profit in the long term contracts and we don't have access to that kind of information. All imho, DYOR etc. because i have no idea why the share price is 190p and nor it seems did the MM's first thing as they expected it to open lower. |
Posted at 21/6/2021 08:34 by cc2014 100m shares currently in issue. 25m new shares available through OO.if you take up your full rights then your new average share price is 1*1.76+0.25*.2/1.25= Clearly I've missed something. Any thoughts? Edit: got it. 10m shares in issue not 100m |
Posted at 20/5/2019 15:38 by cc2014 The research note is telling us is that NMCN want to have a different relationship with their shareholders than they have for the last 50 years.To me this is part of the progression of the company. Along with the re-branding it is telling us they are ambitions far beyond where they are today, but what the report also tells us is they wish the market to understand this will be done in a robust, measured and sensible way. Further they don't wish to be lumped in with all the other construction companies, many of whom (Carillion, Interserve, Kier, Galliford, Amey, Laing O'Rourke, I could go on) have badly managed risk and cash but instead have a clearly differentiated strategy which targets markets where they provide expertise and/or has high barriers to entry. The report will make more investors aware of NMCN and help liquidity something that is needed and will have put (large) investors off in the past. This should in itself help the share price. Finally, I wonder whether it reflects a slow change in outlook in the Moyle family in their desire to retain their shares. Certainly the numbers in the forecasts are not the type of numbers you would be using if you wanted to sell your shares, yet it sets up a position that invites attention. Perhaps it is as simply as that, they would be open to an offer at a high price, but want to ensure the market is sufficiently aware of the value of the company that they don't have to deal with a derisory offer. Further, I would say if the company reaches a certain market cap, say £200m, the Moyle family will come under pressure to sell shares to provide liquidity. This sort of research means that if they do sell they will get a decent price for them or alternatively greater awareness of the company leads in itself to greater liquidity and a closer spread. I am now in a quandary. I have my core holding from 115 I shall keep for years yet. I like everything I see and at my age I'm happy for NMCN to progress at a steady pace and look after my investment. However, I also bought a much smaller amount at 500. I was going to sell these on the trip back to 785 but now I'm not sure whether to hold them long term. |
Posted at 28/3/2019 09:07 by cc2014 You best tell that about the dividends to LLOY, RBS and the rest of the FTSE100 who on average take about 5-6 weeks.I would venture the market reaction this morning is a bit disappointing. I can see the margin statement at 2% might not excite but I read it very much as the directors saying they can do better but won't commit until they can see visibility in Q4. Maybe I'm too optimistic but given most of their work is on frameworks I wouldn't anticipate a problem. The question as an investor here is your view of their future. Currently the construction sector has a really bad feel about it after Carillion, Interserve, Kier rights issue, Galliford rights etc. It's out of favour. They all had run up too much debt on the balance sheet. But here we have a unique situation. NMCN has £33m of cash compared with its market cap of £66m. I'd always said it was unlikely they would get bought out, but someone is sure to run the numbers over that. £33m net cash, generating £7m a year, no pension fund deficit to worry about. It's kind of a no brainer. Someone like Wates might gobble them up. It would be a fit for them as they don't do much work in the water sector. Wates has £114m cash and an untapped £120m credit line. If they don't get gobbled up then fine, the directors will use the cash to invest in the long term future of the business and produce significant increases in EPS. I'm happy to sit in this trade, this is no longer about short term P/E forecasts but more about a company sitting on a pile of cash, whilst 90% of their competitors are struggling with huge debts. I believe 650p is going to look cheap in 3 years time and I'm happy to hold. I appreciate many investors have a mindset based on a much shorter timeframe. |
Posted at 06/2/2019 08:38 by dround87 I think we're past earnings maintenance. based on my analysis of the most recent results my target was around 600. But the number and value of contracts being won suggests another increase in forecasts to come. Backed up by confident director dealing it's priced for growth. DYOR but look further than RNS because most of it you'll find in local/industry press. If you're worried there's a trading update soon so do whatever you have to do now. Would be a shame to miss it though IMHO. |
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