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Zegona Com Share Discussion Threads
Showing 26 to 49 of 50 messages
|Macquarie Initiates Coverage on Zegona Communications PLC (ZEG) with an outperform rating and £1.50 target.
Link -> hTTp://www.thecerbatgem.com/2016/10/18/macquarie-initiates-coverage-on-zegona-communications-plc-zeg.html|
|Creeping up nicely|
|hopefully this is the clearout, the roadshow clearly going down well. Some bits in here on savings from refinancing.
|Thanks Flagon, appreciated. Big trades today, someone moving on and someone moving in I think.|
|Webcast of todays results -
All positive going forward and Eamonn spoke well I thought. You will need to register to access the above link.|
|i would, it is throwing off cash and would sell for a multiple of 50% above the current rating.|
|put it this way , would you buy Zegona at a 204 million market cap based on these numbers?|
|SW - do you mean these?
These central costs totalled €4.6 million in H1 2016 and included (1) €2.7 million of non-recurring advisory and other professional fees, primarily in relation to the work done on the acquisition of Yoigo (Zegona terminated all discussions in H1 2016, as announced on 22 June 2016), and (2) €1.9 million related to Zegona's underlying central costs.|
|WTF! Look at the size of the ZEG overheads.|
|Results look as expected, not sure why this isn't substantially higher really. Growing business and 4.5% yield, big director and insti support from a much higher level. Everything is fine other that being under the radar as Flagon said.|
|An under the radar stock as exemplified by the few posts on this thread. Whilst the market has its focus elsewhere directors and institutions have been topping up.
We know from the March 2015 presentation that Telecable is generating significant excess cash which if not needed will be distributed to shareholders. As this excess is in euros there will be a nice forex translation boost post Brexit.
I'm sure we are not really here for the dividends but if they don't do another deal in the next while we'll get the base 4.5p dividend plus a special. All rather useful.
Eamonn O'Hare said in this article dated July 18th 2016 that the next deal could be financed by either shares or debt. So I don't see the current share price as a hindrance to a further acquisition.
Link -> hTTp://bloomberg.finanza.repubblica.it/Notizie/Article?documentKey=1376-OAB6ZK6S972T01-266AQ9KO0IFT70A75G7GUCQQIR&refresh_ce
Interims are 7th September.|
|The drop was, I think, more to do with the termination of attempts to acquire Yoigo announced on 22 June. It dropped to (a little below) the price it stood at before the run-up to its suspension.|
|Can anyone tell me why this dropped 20% on Brexit?
Everything else has recovered and more - but not this one!|
|Invesco topped up again by buying that 1M last Friday.
Link -> hxxp://www.investegate.co.uk/zegona-comm-plc/zeg/holding-s--in-company/201608151117551851H/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Zegona%20Comm%20PLC%20Alert|
|Lots of buying within the spread in this recently but no tick up ... I wonder if that 1M trade at 12:37 Friday has cleared any overhang ?
Interims are due on 7th September.|
|i wonder if they are more likely to sell this on than buy something else. they last raised money at 160p, we are a long way from there, so slightly hamstrung in the M&A strategy. Happy if they sell obv, and getting paid to wait.|
|Agreed, lets hope to see a decent rerating in H2|
|Yup, very encouraging, and getting their trades in before the close period and hopefully now busy lining up the next deal now that MasMovila appear to have got their bid for Yoigo financed.|
|Some confident director buys lately|
|Liberum on MVI -a back door to Zegona at a big discount;
Marwyn Value Investors* - Initiation
Target price 185p | Publication price 149p | *Corporate Client of Liberum
Marwyn Value Investors’ unique strategy has delivered 199% NAV return since 2006. Marwyn partners with proven management teams to implement a private equity investment strategy in listed sector-specific platforms pursuing buy-and-build strategies. The shares currently trade on a wide 30% discount to NAV (5.6% dividend yield) with potential catalysts including capital deployment and further upside from the existing portfolio. Buy.
NAV TR of 199% since 2006 (vs. 67% All Share return) driven by 2.6x realisation multiple. Marwyn ranks second amongst its PE/small-cap peer group over the time period.
The fund is committed to returning capital with 50% of net realisation gains returned to shareholders. Quarterly dividends currently equate to a 5.6% dividend yield.
The fund backs leading management teams to create value through buy-and-build strategies. Marwyn has constructive influence over strategy and is often the largest investor.
Marwyn now trades on a 30% discount to NAV. The price implies a 47% discount on Zegona and BCA positions (ex-cash and assuming 50% discount on remaining assets).|
|We all like director buying!|
|Quite an interesting RNS:
Update on Yoigo Transaction
Following the announcement on 1(st) June that our exclusivity period with TeliaSonera has expired, the Board of Zegona has now decided to provide an update to shareholders on the Yoigo transaction.
Despite Zegona reaching agreement with TeliaSonera within the original exclusivity period and having fully agreed documentation and 100% underwritten financing, discussions with Yoigo's minority shareholders(1) have not led to a full agreement.
In addition, the Zegona Board has been notified that there is another bidder interested in acquiring Yoigo. It is our understanding that this new bidder is willing to offer a price higher than that which Zegona considers to be fair and reasonable given the status of the business, our disciplined approach to valuation and our focus on shareholder returns. However, this higher offer is still conditional on due diligence, fully agreed documentation and the ability to secure significant financing.
Given the current uncertainty of this new bid and our expectation of greater clarity within a relatively short period, the Board considers it is in the best interest of shareholders that Zegona remains engaged in the Yoigo transaction. It is our intention to progress this transaction as we continue to evaluate the many attractive opportunities for additional acquisitions across the broader European TMT landscape.
(1) The Yoigo shareholder structure is complex and any transaction requires the agreement of all four shareholders individually and in aggregate. The Yoigo shareholders are:
-- TeliaSonera: 76.56%
-- ACS: 17%. Publicly listed Spanish construction and infrastructure services business
-- FCC: 3.44%. Publicly listed Spanish construction and infrastructure services business
-- Abengoa: 3%. Publicly listed Spanish property business|
|Zegona confirms exclusive talks to buy Yoigo
...Zegona said that there was still no agreement, however, “even in principle”. It said that it had entered into an exclusivity agreement with TeliaSonera, the Swedish telecoms group that owns Yoigo, but added that other “stakeholders would also need to be involved in any transaction”.
Zegona said that the acquisition may be classed as a reverse takeover on the basis of the terms under discussion, which caused the company to request a temporary suspension of trading in its shares.
A price of about E500m has been rumoured for Yoigo, which has been put for sale in the past by TeliaSonera but without finding a buyer, while Zegona has a market capitalisation of about £250m.
The group has been backed by funds from investors such as Neil Woodford, Fidelity and Standard Life, but typically seeks to raise extra finance after it has agreed to a deal.|