||EPS - Basic
||Market Cap (m)
|Electronic & Electrical Equipment
Octagonal Share Discussion Threads
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|Martin Davison is also the chap who kept buying Oct shares in the market 6 months ago.|
|"We would hope to be able to provide a further update before the end of the financial year."
Just over a week to go .....|
|Me neither ! I got the impression that we have access to more capital and also be able to offer a greater range of regulated financial services - hopefully all this will make more money :)
I guess Martin Davison did this kind of stuff in his previous working life and was keen on doing something, I presume he was good at.
Atleast, I suppose that assumption is correct :)
Let's see what the market thinks ?|
|...Frankly, I have no idea what that all means.|
|Expanding at a good pace....
Octagonal PLC New Business Initiative
RNS Number : 1391A
22 March 2017
Proposed New Business Initiative
Octagonal (AIM: OCT), would like to provide Shareholders with an update on a new business opportunity being developed by its wholly owned subsidiary, Global Investment Strategy UK Limited ("GIS"). The opportunity is in line with the Group's strategy of utilising its FCA Permissions to diversify and grow revenues through earnings enhancing projects.
GIS has incorporated Synergis Capital Ltd as a majority owned subsidiary ("SynerGIS") for the purpose of issuing an investment bond (the "SynergisBond") to be issued in tranches by SynerGIS and distributed by GIS. SynerGIS has been established to provide commercial asset backed lending and its operations will be independent on the activities of GIS. It is proposed that the SynergisBond be listed on the Irish Stock Exchange and, as such, a draft Prospectus has now been submitted to the Central Bank of Ireland for review.
The Company has raised third party capital to finance the cost of establishing SynerGIS and launching the SynergisBond; GIS will, however, at all times remain the majority shareholder in SynerGIS. Martin Davison, a Non-Executive Director of Octagonal, who will act as an executive Director of SynerGIS was a co-founder of the business and has been issued 12.5% of the SynerGIS equity (the "Transaction"). This constitutes a related party transaction under the AIM Rules and accordingly, the independent directors of the Company, being the Board excluding Martin Davison, having consulted with the Company's Nominated Adviser, confirm this Transaction is fair and reasonable insofar as the Company's shareholders are concerned.
The Company will update Shareholders when SynerGIS is in a position to publish the Prospectus in connection with the SynergisBond and when matters further progress.
John Gunn CEO commented:
"The submission of the Prospectus to the Central Bank of Ireland is the result of a year's work and analysis by GIS. Substantial due diligence has been undertaken including market, competitor and risk analysis. We have engaged both Solicitors and expert legal Counsel opinion to create a robust and compliant structure for the SynergisBond and the Issuer, SynerGIS. The structure allows investors in the SynergisBond to receive attractive rates of interest for investment grade debt, while GIS will be able to make use of the capital deposited with the Company by SynerGIS to support our existing treasury function and develop other prudent asset backed lending opportunities. This will create a symbiotic relationship between GIS and investors in the SynergisBond, with increased levels of interest for the depositor and enhanced earnings for the Company. The project is true to both the ethos of the Company to serve its clients and its commitment to its shareholders to maintain the strategy of developing new business lines through operational leverage to enhance earnings. We would hope to be able to provide a further update before the end of the financial year."
Grant Roberts, Chairman commented:
"This is a further example of the Company seeking organic growth through utilising pre-existing GIS services to expand our overall product offering into the general commercial lending space and providing additional future revenue stream based on the success of the business. The board and I are very excited by this new business and its potential future prospects; we thank Martin and his team for their efforts to date and wish them every success."|
|Wow, now there's someone showing a real bit of confidence @ 16.24:55 with a 1,000,000 buy paying 3.05p
Waiting patiently for Trading Update.
Won't be long now!!|
|3.2p per share by end of Q2.|
|Anyone got a current price target for the share price?|
|March 31st is their year end. So we could be getting a trading update soon. (and it should be good!)|
|True, nothing to see here..except the rising trend and the bowl up to sixpence on the three year chart.|
|Yeh, true... but still... NOTHING TO SEE HERE.|
|5 ticks up today to a 52 week high....looking good and IMO outstanding value here. No longer just under the radar, people starting to take notice.
Watching and waiting with patience for Trading Update.|
|Slow down! We don't want to be seeing rapid share price growth here. Sub 2% rise every other day pattern was suiting me nicely. Get back under the radar!Nothing to see here...|
|No jak - I got bored waiting for that one. I have been watching it recently though and it does finally seem to be coming good for you.|
|someuwin are you still in MOGP ? Looks like it could do a very similar thing to Oct, given the statement last week .|
|Looks like a huge cup and handle formation.
|bidding above mid, got to be good.|
|The trend is UP.|
|BOD is not just the FD
Still patiently watching & waiting for trading update.
|Keep your eye on the FD, it's the only reason I sold up, he totally screwed Teathers.|
|Outstanding value here imo
I am patiently watching & waiting for trading update|
|Slowly creeping back up added few more today|
|...if you can get any stock|