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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Nthn.Recruit. | NRG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 30.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 30.00 | 30.00 |
| Top Posts |
|---|
Posted at 06/7/2021 18:35 by dent12 hxxps://www.juniormi |
Posted at 16/12/2008 01:39 by rainmaker Now 20p. I don't really understand what's happening. All I know is all I need to know,that I have accepted the tender offer and will get 40p. I just wanted to echo the sentiments of previous Posters that Investors are misguided to sell in the market when they will receive more (and pay no commission) in a matter of days by accepting the tender offer at 40p.I think it's worth stating for the next NRG type "work out" situation that, if you have Direct Market Access(DMA) there's nothing to stop you putting in bids and trying to buy at slightly more than the MM bid say 36 or 37p-there's obviously no guarantee that you will make any purchases and you could be left with a series of small purchases but it's food for thought. regards |
Posted at 05/12/2008 04:50 by mryesyes The point is that in this case the number of shares not tendered or already owned will be a fraction of 1% so it is not worth imho taking bonuses in lieu of dividends for tax reasons which far outweigh the downside of paying me a few quidAlso it is a tough market for rec cons. One of the best is Michael Page, which has scaled down a bit but is still faring well as a quoted company But NRG will own 99.9% or whatever so they will give it their all and the North is nowhere near as affected by the recession in top technical professional jobs as the South East and NRG have got deals signed giving them exclusive rights to place all advertised vacancies for about 20 of the biggest and strongest Northern employers, none of whom are especially hit by the recession Also I will be there standing in the way of them reselling unless they pay me properly and while they do all the work they cannot prevent me from following in their fortunes in regards to the shares The 90% trigger thing 2 people have now mentioned is when an MBO or buyout.takeover occurs but that is now, post tender, hardly worth it just to get my shares I may see a higher offer from them, and in future years dividends, but I will be left holding my tiny chunk of their company. THEY DID IT BY TENDER OFFER BECAUSE IF THEY DID IT BY COMPULSORY TAKEOVER AT 40p THEY WOULD FALL FOUL OF LSE RULES SINCE THEY ARE MAJORITY SHAREHOLDERS WHO ARE OFFERING A LOW PRICE BY TAKING ADVANTAGE OF THAT FACT ITSELF (THEY HAVE LONG HELD 50% plus and made massive purchases in 2008 at above 40p (see ADVFN) AND BY PASSING ON THE DIVIDEND TO FURTHER LOWER THE PRICE WHEN THERE WAS NO NEED TO REDUCE THE DIVIDEND TO ZERO THE LSE WOULD GET INVOLVED Charles Stanley know that So instead they picked the moment to use Charles Stanley to make a tender offer and the pernicious document was used to simultaneously convey that the shares would be delisted I gave the same advise over PKL which delisted in this way at 30p and 3 years later offered me £1 which I took As for people selling in the market for less than 40p they are mugs, unless of course they have a large holding (another pernicious element in the tender was that you had to tender 100% of your holding, something that I suppose they just get away with but I suspect you are seeing people reducing, and taking my gamble in the same small way). If I had masses of these shares and the money meant a lot to me I might sell some in the market so as to hold an amount I was happy to hold You may as of yesterday have lost the ability to buy as the tender offer has officially expired and MM's may genuinely have no stock |
Posted at 30/10/2008 20:09 by stemis except they aren't on AIMOops, yes. What I object to is the MBO team (which is what they are) using their control of the company to get the business on the cheap. Compare if it had been a third party. Because they've bought shares in NRG in the last 12 months, they would have had at least to pay the maximum price paid i.e. 45p. In addition NRG probably wouldn't have passed the dividend. So we'd probably get at least 50p. They'd also have to negotiate with directors acting in shareholders (as opposed to their own) interests. |
Posted at 30/10/2008 17:21 by stemis I'm afraid its the sort of behaviour which gives AIM a bad name. And they wonder why there is no demand for shares in companies like NRG! Its designed to do one thing only and that's line the pockets of the executive/major shareholder; an MBO in drag. The Morans struck when the share price was at its lowest. Jupiter clearly also wanted out but was unable to find a buyer for its 18% stake. What happened to the responsibility of the executives to other shareholders? The passing of the dividend 6 weeks ago dropped the share price from 40.5p to 35.5p at a stroke and is now shown up for what it was; a cynical move from which there has been only one beneficiary. Pretty shabby. I'd expect NRG to be sold in the not too distant future (Lorna is getting on a bit). The price will be quite a bit north of where it is today. Unfortunately only the Morans will left to benefit. |
Posted at 30/10/2008 17:08 by campbed Hi ErdukIf you do not accept the tender price or otherwise sell ahead of delisting, your shares don't suddenly worthless. But you will no longer hold shares in a quoted company but rather in an unquoted private company, Northern Recruitment Ltd. You won't be able to sell any of your holding to a market maker and will likely be locked in by the absence of any buyer until the major shareholders (the Morans who are executive directors) sell out. But lots of people hold shares in private companies (private equity backers for one though they write in all sorts of protection if they are to take minority position). If the directors' 9,030,063 Ordinary Shares, represent approximately 57.03 per cent. of the TRV (Total Voting Rights) of the Company then TVR is about 15.835 milliion (m) shares which at 40p/share puts a value on NRG of about £6.3m as jhan66 says, ignoring any to be issued shares such as options. Net asset (all tangible) value at 30 June was reported at about £5.7m, including about £3.9m cash at 30 June, which is about 35.7p/share. Deducting that cash balance from market value of shares gives an enterprise value of about £2.4m for a business that reported an EBITDA of about £1.1m for y/e 30 June and a net post tax cash flow from operating activities of £523k (down from £1.5m in prior year). Paying a little above net tangible asset value for a recruitment business is certainly not generous as the valuable assets of any such business are mostly intangible. Of course the big unknown looking forward is how NRG's business will hold up during this recession. Post recession (whenever that is) the MD, Lorna Moran, who holds over 50% of shares, established the business years ago in the late 1970's and is now aged late fifties and the FD, aged early sixties, will presumably not want want to go on for ever. |
Posted at 12/9/2008 15:19 by deswalker There have been a couple of indicators for quite some time. I did't mention either as I'm a holder and didn't want to rain on my own parade by panicking people into selling.Firstly, Digital Look has been forecasting a total divi for this year of 4.8p for several months now implying a 2.3p final divi instead of 5p last year. Clearly the analysts had been given a steer that the 5p final divi was to be cut. I didn't mention it months ago as I'm a happy holder at the lower divi level and so didn't feel like panicking people who were expecting 5p but it was there for all to see. Secondly, the share price. With the consensus 2.3p divi there for all to see, anyone thinking that the market is so inefficient as to sit at 40p whilst a better-than-expected 5p divi rolls off was always going to be mistaken, especially after they spent 800k on buybacks. If the market had gotten wind that they were going to hold the 5p divi (instead of reducing it to 2.3p) then the share would have priced itself back up at least at twelve times this level (60p) instead of languishing as it did right up to today. The chart is often more accurate than people like to think. Yes the total divi cut was a bit of a surprise to me but not a major one as I was only expecting a maximum of 2.3p anyway. Now with hindsight, I look back on events over the summer and realise I'm happy with what they've done with the cash instead. I also hope they line up more large chunks of stock to be bought back rather than returning a couple of pence here and there. I need this back over a quid to get my money back and they won't achieve it by running the business down for cash IMO :-) Anyway, I'm not looking to fall out with anyone but I did think all the talk in the last couple of weeks of a 5p divi and 18.75% yield coming was ill-informed garbage and so it has proved to be. Des (long NRG but not for the divi) |
Posted at 10/9/2008 12:22 by momentos I agree.The most likely place to find anything is the local rags - the Chronicle or the Journal. BTW I found this while digging: NRG is synonymous with quality recruitment services throughout the North East and beyond. We are delighted to be associated with the Influential 500 the only profile of influential people in the North East. Regionally and nationally NRG's brand continues to grow, moving into new sectors and emerging industries with innovative recruitment solutions. We continue to develop our expertise in project management launching our Recruitment Process Outsourcing business last year. We are already winning significant national business. As a group we now employ 140 staff with a further 1,000-plus temporary workers on client sites, working across the private, public and third sectors. We successfully balance our focus on this region with the wider business challenges of a national recruitment and consultancy practice. Chief executive and founder Lorna Moran says: "It's just great to be associated with a publication that includes so many clients, friends and appointees amongst its pages" New appointment for NRG in the Tees Valley IN the face of global challenges, there is a growing energy in the Tees Valley that is apparent to all. Indeed on a recent visit Richard Lambert, director general of the CBI, noted that ''the mood in the Tees Valley is decidedly upbeat". NRG plc are delighted to be a part of this growing positivity, and with their recent move to new spacious Middlesbrough town centre offices, are well positioned to respond to the growing needs of the sub-region, in the same unique way they have operated for over 30 years in the north of the region. With key investment in the process and energy sectors and the confirmation of approval for the Northern Gateway, in addition to many other regeneration projects, exciting times lay ahead for the sub-region. The recent appointment of Kiersten Wasson to the NRG team as business manager for the Tees Valley, and a continued expansion of the specialised finance, scientific and engineering teams, in addition to the long-standing connections of the NRG City and NRG Works teams with the area, ensures that this expansion is aligned to support future growth. NRG's performance in both the temporary and permanent markets continues to grow as the experienced teams push forward cementing relationships with local business as well as with national and multi-national organisations. Kiersten says: "I am delighted to have joined NRG at this time, the positive future of the sub-region is in our hands, and those of us living and working in the Tees Valley are able to plan ahead with a level of confidence and self-belief that is truly justified." |
Posted at 04/9/2008 10:19 by momentos An Absolute bargain, hence the reason the company bought back 10% of its shares (max allowed by articles) mostly at 45p.Cash at interims was 4.7m. 1.7m shares bought back at 750k. Divis of 430k. So about 3.5m cash left. 15,832,155 shares outstanding, ie 22p per share CASH. No borrowings, NO INTANGIBLES and H1 EPS of 2.1p. So even if H2 is completely flat, the EPS with cash stripped out is 8.5. Cashflow remains positive, the warning is relatively mild. The company also effectively "owns" the TotalNRG franchise - " NRG has recently been appointed as one of only 7 companies on a pan-government framework contract to supply temporary administrative and clerical staff to government organisations across the UK." Is all this really worth only 3.5m after cash is taken out? Methinks not, whatever the economic conditions. And the cash is being taken out slowly but surely, the aggressive dividend policy continues and I expect a substantial divi whatever the finals. Its the best way for Mrs Moran to get the value out of the business. And what she gets, the rest of us get. Bargain!!! |
Posted at 23/7/2008 08:09 by stemis The financial year ended on 30 June so pretty soon (if not already) they should have a good view of the outturn for the year. My sources tell me that business is steady with no sign of any panic/troubles. The company spent £750,000 buying back 9.6% of its share capital in May/June at around 45p.If they hold the final dividend at 5p then that alone constitutes a yield of 13.5% (20.3% if you include the interim dividend). It will cost them £792,000. The share buybacks will have saved them £84,000 in final dividend. Brewin Dolphin are forecasting a cut in dividend to 4.8p (i.e. final of 2.3p) which would save them £430k. Market capitalisation is £5.9m. Based on the interims they should have around £4.0m of cash left (+/- any cashflow in the final half of the year). Brewin Dolphin's current 2008 forecast is a profit of £1.19m. That would mean a profit of £650k in the 2nd half. Knock off tax of £195k and that should cover the interim dividend of £438,000 paid in H2. I wouldn't expect any adverse working capital movement as sales are not likely to have grown. Consequently I don't expect any adverse cashflow in H2. |
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