Share Name Share Symbol Market Type Share ISIN Share Description
Pennant Int. LSE:PEN London Ordinary Share GB0002570660 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.00p +2.56% 80.00p 78.00p 82.00p 81.00p 78.00p 78.00p 41,403.00 14:38:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 9.9 -2.4 -8.7 - 26.35

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Date Time Title Posts
31/12/201608:35PENNANT INT. ; A BARGIN BUY + BIG DIVIDEND768.00
22/3/201107:53Pennant with Charts & News7.00
11/1/201115:19Wanted all Pennants and Flags (please post the ticker or better still picture)2.00
13/2/ undervalued play.303.00
09/2/200923:38@@@PENNANT BEING RAMPED@@@29.00

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Pennant (PEN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16/01/2017 17:12:0680.0012,50010,000.00O
16/01/2017 15:49:4178.503,7002,904.50O
16/01/2017 14:23:5781.002,5002,025.00O
16/01/2017 14:19:2879.902,5001,997.50O
16/01/2017 13:43:4579.75203161.89O
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Pennant (PEN) Top Chat Posts

Pennant Daily Update: Pennant Int. is listed in the Software & Computer Services sector of the London Stock Exchange with ticker PEN. The last closing price for Pennant was 78p.
Pennant Int. has a 4 week average price of 75.91p and a 12 week average price of 70.71p.
The 1 year high share price is 84p while the 1 year low share price is currently 28.50p.
There are currently 32,943,533 shares in issue and the average daily traded volume is 45,200 shares. The market capitalisation of Pennant Int. is £26,354,826.40.
gengulphus: Well, it's now pretty clear where his million shares went: Gengulphus
interceptor2: The directors couldn't be sending a clearer message to the investment community about future prospects. Two positive trading updates in June and stating in the most recent that they are confident trading will exceed current market expectations in current year and next year. Plus order book visibility strong to 2018, with order book numbers provided. Then options to Chairman only exercisable if share price trades at 100p for more than 10 business days. Followed by two institutional investors acquiring the stock sold by ex Chairman C Powell. And then we have todays announcement about taking possession of commercial properties that will double capacity, because of record order book and increasing business capabilities. Unless I am being too optimistic because of our human weaknesses of optimistic bias when holding a stock. I don't think the company could make the message any clearer. Must take my rose tinted glasses off now and read back my own post. "Nope it still seems a sensible conclusion without them" :o)
gengulphus: And the other 1.95m shares went to Hargreave Hale: Gengulphus
gengulphus: And we've now got the explanation of one of the 1.95m share trades: The fund's holding has risen by 1.95m shares, so it is indeed a "buy" - not the "sell" that the ADVFN trade reports guessed based on the price of 52p at which it occurred being at the low end of the spread. (A type of guess that isn't all that reliable at the best of times, but particularly unreliable for very big trades, due to them typically being specially negotiated, with the market maker or other intermediaries being paid by a separate agreed fee, not by taking a spread on the price.) Gengulphus
gengulphus: And as it turns out, Christopher Powell sold 4m shares, so neither as big as the nearly-8m figure originally suggested on this thread nor as small as the 0.1m figure I said it could be. I would now be reasonably certain that the two 1.95m trades were the market maker moving most of the shares on to the institutional investors - that fits their timing within about a minute after the 4m trade. (They could instead be someone else selling shares, but then the timing would be a pretty remarkable coincidence...) Gengulphus
interceptor2: hTTp:// Today's RNS above shows the level the BOD expect PEN to be trading at in the not too distant future.
varies: topvest Thank you for your observations which I respect. Like you I bought many of my shares at about 14p years ago and have a good profit on paper. You may well prove right in deciding to cash in yours. The market in PEN shares is so thin and the spread so wide that needs to take a longer view than one might otherwise. CGT is another deterrent in my case from selling any shares. It looks to me as if about 1/3rd of PEN's orders are from the Middle East and it would, of course, be disastrous if PEN performed its ME contracts without getting paid. There must surely be arrangements for payments on account to mitigate this risk. I believe that the share price will stand higher in a year's time and so I will keep my shares. I will be disappointed if the payment of dividends is not resumed by then.
lanzarote666: Good news. The suspension of the dividend makes sense as the cash is better used to fund this significant growth. With the general market looking at uncertainty, PEN seems the opposite with clear sight on the next three years earnings. £45m worth of orders for a £15m market cap. I think they will have no trouble finding the backers for any placing and the share price has further to run from here in my opinion. As I said previously I think we will see the 'year high' taken out in the short term. GLA 8-)
topvest: A rather odd announcement this morning. You don't often get a major contract win, an exceed expectations for the current and next year and a dividend suspension in one announcement. I think this has to be a high probability candidate for a go-private transaction, particularly given the unexplained stepping down of the Chairman to NED. Something is obviously going on and I'm not sure I like it. The £45m order book will absorb working capital initially rather than in total otherwise it is not a true profit...think the wording of the announcement is a bit poor. It's certainly a good way of keeping a lid on the share price if there is something going on.
gengulphus: Is that a normal paper exercise, or could PEN be looking to buy back some Shares? Quite possibly both! They seek (and so far get) the rule 9 waiver each year, i.e. it's a normal exercise. It's done to ensure that buybacks can be done without obliging the directors to do a management buy-out - without it, any buyback (other than of the directors' own shares) would push up the management's percentage stake in the company when it is already in the 30-50% range, which would trigger a mandatory bid under rule 9 of the Takeover Code if it weren't for the waiver. The waiver doesn't oblige them to do buybacks - it just keeps the possibility open (I believe the Takeover Code also obliges companies to take reasonable precautions against their buybacks pushing shareholders into situations where they have to make mandatory bids). But Pennant also have a tendency and history of doing share buybacks, generally when the share price is fairly low. I think the last one was at around half the current share price in November 2012 ( ). I'd be surprised if they've dropped that way of thinking! So my guess is that they're not just keeping the option of buybacks open, but also keeping an eye open for opportunities to do them if the price drops low enough... At the time of that November 2012 buyback, the EPS 'run rate' indicated by the 2012 interim results was 2*2.21p = 4.42p per year, indicating the buyback was at a P/E of just under 10. If they're looking to do buybacks on that sort of basis this time, they would have instructed their brokers to buy at a limit price of around 65p (*). I.e. some way below the current share price, but not out of reach if the stockmarket has a determined slide! I should add that Pennant's tendency to do buybacks on that sort of opportunistic "if we have the cash and the price drops low enough" basis is one of the things I like about the company. I quite strongly dislike buybacks funded by debt and those done on a "we intend to spend X amount on buybacks no matter what" (as when big companies announce a "£2b buyback programme" or such like - a positive invitation to other market participants to try to fleece the company by driving the price up!). But Pennant's approach seems quite attractive to me. (*) I am of course not privy to Pennant's instructions to their brokers! I.e. that's only guesswork on my part... But if the price were to show signs of descending to that sort of level, I'm confident enough about that guesswork that I would probably be tempted to add to my holding! Gengulphus
Pennant share price data is direct from the London Stock Exchange
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