||EPS - Basic
||Market Cap (m)
|Travel & Leisure
Real-Time news about Yco Group (London Stock Exchange): 0 recent articles
|acta_topup: SEE YOU AT THE AGM!
WE WILL WIN THIS! FROM THE INDEPENDENT TODAY:
Storm brews for superyacht company
Mark Leftly , Laura Chesters
Monday 25 June 2012
Plans to take private a listed super-yacht company favoured by the likes of Roman Abramovich and Sir Philip Green could be voted down at its annual general meeting today.
The directors of YCO need 75 per cent approval to delist the company, but its former chairman Laurence Milton claims to have gathered a significant blocking stake. He told The Independent that he has gathered proxy votes and support of 15-20 per cent, which puts the poll on a knife-edge should anyone else oppose the board.
Soaring pay at the firm has angered investors as shares tanked from 49p on flotation four years ago to a closing price of 5.88p on Friday. There is expected to be a significant vote against the remuneration report, with Mr Birkett's pay up 28 per cent last year to nearly £295,000. The company made a pre-tax loss last year of £4.1m, down from a £600,000 profit in 2010.
Due to the collapse in the share price, Mr Milton's band of investors argue that taking the company private would make their stock effectively worthless. Management said that a delisting from the junior Aim market would allow them to focus on the business rather than spend time and money wading through the burdensome regulations associated with being a public company.|
|jay083: ...very difficult to trade in any reasonable size. I would put a cheeky MBO offer past them at this stage having managed to decimate the share price...|
|acta_topup: I have not reviewed the annual report yet but if that is true it is absolutely outrageous. They have presided over a decimation of the share price and now they deem it in the "best interests of shareholders" to take the company private, knowing full well that the vast majority of private investors never invested on the premise that the company would become private and are unable to maintain their investment. They say that the market doesn't value the company appropriately, which is true but then what do you expect when you release an unexpected profit warning, fail to provide shareholders with timely progress reports or communicate to potential investors what the company has achieved. The volume is low for the majority of AIM shares which is par for the course and absolutely not a reason to cancel the listing. What are the safeguards for PIs in the future as a private enterprise? Can new shares be created at the will of the large shareholders, effectively increasing their holding and diluting to nothing the investment of smaller investors??? Can the siphoning off of cash continue without any controls? I honestly believed the integrity of the founding directors and was quick to sing their praises over the years. Now I can see them for what they truly are - greedy, self-interested and without any moral integrity whatsoever.|
|mildred49: from the header
" Adding to the interest is the fact that the FD has just bought 200K shares @ 11p "
i really don't understand this quitting mentality ?
i've never noticed them promote their story at events such as Proactive but they just give up citing 'poor liquidity' and a low share price?|
|wskill: Trade of £200 drops the share price by 3% .|
|lfc4ever: a little bit of life in the share price the last week or so.|
|drbeng: If that doesn't move the share price I don't know what will. News is all we need|
|emporium00: YCO Group restructures for a brighter future
YCO Group plc is a collection of specialist companies providing key services to the superyacht community, from conception and new build to operations, supplies and brokerage. The future looks promising for this young company, as recent restructuring efforts bring new opportunities and a share price increase of 107%.
Through its subsidiaries: YCO, Yacht Help Group (YHG), YCO Crew and Yacht Fuel Services (YFS), YCO Group offers a diverse range of services to superyacht owners, captains and crew.
Having announced in a pre-close trading statement that they should break even for the financial period to 31st December 2009, YCO Group's restructuring efforts, including implementing cost efficiencies and improved cross-selling services, look to be paying off, with share prices rising from 8.0p to 15.5p and a number of new superyacht management contracts on the horizon.
Throughout 2009 and early 2010, YCO Group made significant changes to the company structure, appointing their new CEO Charlie Birkett in October 2009, and restructuring to create a smaller, more involved Board of Directors, which has achieved a dramatic annual reduction in corporate overheads.
The Group structure has also been improved to enhance cross-selling between subsidiaries, and their yacht brokerage team has benefitted from an expanded operation in the Chelsea office and the appointment of Yves Damette as Director of Yacht Management at the beginning of 2010.
YCO Group's subsidiary, Yacht Help Group (YHG), opened a new office last spring in Antibes to provide a full range of yacht support services, and introduced an International Operations Director to synchronise operations of individual entities in France, Spain and Gibraltar. The new Antibes office is now the YHG headquarters and has operated profitably within its first year.
YCO Group CEO, Charlie Birkett commented: "YCO Group is already seeing the benefits of the restructuring after a busy start to 2010. Even in a quiet market we could see the results of our efforts.
"We expect the coming months to remain challenging but we are convinced the steps we have taken to reduce our operating costs and increase efficiency will put us in a perfect position to benefit from future improvements in the market."|
|emporium00: Good evening all, As expected share price has contnued to rise. Even the MMs knows that these prices are short lived. This share price is returning to glory. Lets take a look at the chart and see where the next resitance will be. I am taking a guess here at 22p. Overall been a good week for YCO. The RNS I expected has not come through. I would suggest that we get on our emails and see if we can get some more information. Zac what is the email address to which you have been sending emails to.
As I have previously stated there are not a large number of shares in circulation. This is why share price shoots up on buys. Most big holders are holding onto their shares because they know that selling below 1 pound will be foolish. Even those that have previously crticised are buying in. The facts of the company speak for themselves.
More buys will come in, pushing share price higher.|
|tara7: Time for me to buy.!! Update, See posts 212 for the 49p placing in May 2008, and post 458, the CEO chat [just after the trading statement ]. UPDATE: POST 474 gives investors a taste of what is to come in the form of profits in the first half of this year starting 01/01/10. Post 1944, is my idea of what profits might be and thus, the YCO share price on a PE of 10-12.|
YCO Group share price data is direct from the London Stock Exchange