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PGY Progility

47.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Progility LSE:PGY London Ordinary Share GB00BF5L3580 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 47.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
40.00 55.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 47.50 GBX

Progility (PGY) Latest News

Real-Time news about Progility (London Stock Exchange): 0 recent articles

Progility (PGY) Discussions and Chat

Progility Forums and Chat

Date Time Title Posts
10/1/201816:17Progility PLC149
17/8/201612:25Progility (was ILX)86

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Progility (PGY) Most Recent Trades

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Trade Time Trade Price Trade Size Trade Value Trade Type

Progility (PGY) Top Chat Posts

Top Posts
Posted at 10/1/2018 16:17 by dusseldorf
Anyone read that RNS? Praxis have a loan note just issued that converts now at 1500% above the current share price (this takes into account the consolidation)
Posted at 28/11/2017 11:33 by dusseldorf
Share consolidation coming, which IMO bodes well for Bos lining up his stock conversion to remove the debt that costs £3.3m a year to service. Slow going, but hopefully things accelerate now..
Posted at 27/11/2017 10:17 by dusseldorf
I can understand the drop in share price and frustration at progress - plus the single line about changes that 'may have an impact' this year in terms of holding back progress recovery, was in my view a little uncalled for. That said, the company is gathering momentum and building a pretty solid base. The only reason it's not currently profitable to the equivalent £m of it's market cap is that BOS is keeping the debt on the books and choosing not to convert yet.

The price may dip a bit further, but personally it's bringing up a buying opportunity at a level I didn't suspect we'd be seeing again. Slow progress, but I'm over my disappointment.
Posted at 23/11/2017 14:06 by dave4545
mm's dream stock, charging people premiums again then discounts to sell after dropping the price.

And still punters are prepared to play this one.
Posted at 19/11/2017 21:09 by dusseldorf
Having said that, TDWaterhouse wrote this:"Monday 20th Nov: Trading statement from betting firm William Hill (WMH), full year results from Diploma (DPLM) and project management group Progility (PGY), half year results from NEX Group (NXG)."
Posted at 17/11/2017 13:58 by dusseldorf
Babbler results are next week, not necessarily Monday. Should show continued progress and if exchange rates are anything to go by the Indian business will have made quite a contribution. We still have the debt owed to the CEO's company floating around, but the facility has £20m more (I think) we can borrow to fund further acquisitions. I'm still also holding out hope that the debt is converted at a sensible premium to current price.
Posted at 12/10/2017 15:24 by dusseldorf
Still Waiting - It's no bad thing the price dropped back. If it goes too high on 'no news' Bos immediately releases an RNS claiming no reason. Let's hope the results actually give a solid reason for price rise. revenues will be up, losses will be greatly reduced or at best, turned into a profit. The elephant in the room is the outstanding debt, however, if the company can demonstrate that it can generate cash over and above debt repayments - there is an theoretical possibility, that PGY could trade it's way to debt repayment. It's unlikely, as if it did, PGY would be trading 1000% higher, who knows.

If he does convert debt (and ideally at substantial premium e.g. 5p), it immediately adds circa £3m annually straight to the bottom line. PGY is Bos' play toy, ultimately one man is in charge of the price irrespective of business performance. If the business does better, he may simply choose to loan it more debt e.g. to make further acquisitions and accelerate revenue and perhaps profitability.

At these levels, it makes sense to be in. If it lept up to 3-4p, I'm not sure how much potential would be left short term assuming he keeps debt in the company.
Posted at 12/9/2017 11:39 by dusseldorf
cyberbub - In theory Bos can name his own price, but my understanding (given volume of equity required) is that any motion to convert debt would have to be carried at general meeting by the independent shareholders (independent being the only parties not directly related to the transaction and the only ones eligible to vote). I certainly wouldn't vote for something at the wrong price.

To be honest I'm not sure he wants to convert yet, he has another £20m ish? headroom in his finance facility. If the company is profitable, its profitable AFTER paying the finance fees for the loan he has provided (which is a nice little earner for him by the way). If he converted, the company profit jumps about £3m/year (as interest payments disappear) so the conversion process would have to reflect a fair market valuation for profit of £xm on turnover of £Ym - something the Nomad should also give an independent view on. My view is that the figure is 3-5p, however, it could be higher or lower dependent on when its done and how the business is performing.

You can bet your bottom Aussie Dollar, that BOS will milk PGY for interest payments, whilst allowing it to expand, and fund it with new money - when the time is right, he'll convert and then sell it all at a big premium.
Posted at 11/9/2017 21:25 by cyberbub
Just looking in here.Dusseldorf, if Bos essentially controls the company, and only sees PIs as the small liquidity to provide share price price-finding, surely it's hard to make an investment case here? You mentioned in earlier posts that Bos might convert his equity at 3p or 5p, but surely he can effectively name his own price, and it could just as easily be 1p, to further squeeze PIs down to essentially nothing and then buy them out?I am just doing a bit of research here, so forgive me if I have misunderstood anything.
Posted at 25/4/2017 13:53 by dusseldorf
Hopefully Bos is getting somewhere in terms of converting his debt (via Praxis) - PGY is a £30m+ company trading at £2.5m due to outstanding debt (and it's knock on impact on profitability).

I guess if he trades his way through to repayment the share price will be multiples higher, but in all likelihood, he'll secure himself the lions share of the equity when the time is right...hopefully at 5p+
Progility share price data is direct from the London Stock Exchange

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