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Adept Technology Group Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Adept Technology Group Plc LSE:ADT London Ordinary Share GB00B0WY3Y47 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 200.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 200.50 GBX

Adept Technology (ADT) Latest News

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Adept Technology Forums and Chat

Date Time Title Posts
03/5/202321:59AdEPT Technology Group 202337
29/1/202317:23adept telecom627
29/3/202211:32Adept Telecom with Charts & News43
08/7/201607:59INTERVIEW: AdEPT Telecom Plc Revenue Increases Sustainable and More + WH Ireland2
11/5/201613:58AdEPT Telecom (ADT)4

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Posted at 03/3/2023 15:14 by red ninja
Well that's my votes for takeover gone in.

The question is what to do with the funds when they appear.
There aren't so many good value options like ADT on the AIM market.

Posted at 24/2/2023 12:40 by red ninja
No I think it's offer on. I think they'll get 75% of the vote.

If 80% of share vote and you have to get 75% then you have to get 60% of total shares to vote yes to win.

If 90% of share vote and you have to get 75% then you have to get 67.5% of total shares to vote yes to win.

So I expect them to win the vote as does the market if the rising price is to be judged.

Posted at 09/2/2023 08:26 by 2lb
100% done deal. Macquarie are bring aggressive in the market and using Wavenet as the vehicle to build a tech services platform. ADT has made itself a sitting duck , there will be a lovely deal bonus for the directors, of that you can be assured.
Posted at 03/2/2023 15:14 by value viper
A few larger sales today I see but price holding firm which is interesting
Debt or no debt I feel this gotta be cheap myself but wtfdik
So so quiet in general

Posted at 29/1/2023 17:23 by value viper
Hi Red - I’ve started a new 2023 ADT thread
Post there
Give this all the luck it needs

Posted at 29/1/2023 11:49 by red ninja
If Adept Does manage to pay off something around £6-10 million of senior debt over the next 18 months that may start a re-rating.

Personally, I'd like them to continue taking debt downward, but not sure how far they are prepared to take the deleveraging.

As you say no management buying at these depressed levels is not encouraging.

Yes, I'm liking the FY dividend of 5p, but I am thinking they are effectively borrowing the money to pay it and paying interest on it.

I believe the institutions have been encouraging Adept to deleverage, but I guess it depends how stubborn the board is.

I would hope for a pickup in growth, but given the recession I am not sure how much if any growth we can hope for.

Judith McKenzie (Downing) has said she would expect a price of £2.50 per share if it was to be taken over.

Posted at 28/1/2023 21:43 by value viper
A new thread for hopefully a new lease of life for the share price.
Posted at 19/11/2022 12:02 by red ninja
Investors Champion Comment :-


Adept Technology: all eyes on debt reduction
AdEPT (AIM: ADT), one of the UK's leading independent providers of managed services for IT and unified communications, announced results for the six months ending 30 September 2022.

Group revenue was flat at £34.2m (H1 FY22: £34.3m), impacted by global supply chain issues, but also highlighting the struggle for this business to grow in the absence of acquisitions.

In Cloud Centric Strategic Services revenue rose 3% to £15.1m with Managed Services revenue as a whole increasing to 89% of Group revenue (H1 FY22: 87%), offsetting the structural decline in revenue from legacy Traditional Telephony, from which the Group continues to move away.

Adjusted operating profit fell 4.7% to £5.45m while there was a reported pre-tax loss of £461k after £1.5m of finance costs.

The cash flow presents a better idea of what’s really going on, with the operating cash inflow £4.4m and free cash inflow £2.5m.

ADT also paid out deferred consideration for its previous Datrix acquisition of £4.3m. Senior net debt closed at £30.7m (H1 FY22: £31.2m), down £5.9m (16%) in the last 12 months. Unfortunately, there is also the small matter of £6.8m of a convertible loan.

We remain puzzled why Adept is committing to a pay a dividend when the focus should be on bringing down debt, especially in the face of rising interest rates. The forecast full year March 2023 dividend of 5.00p per share (yield 4.3% at the current 116p share price price) will cost approx. £1.25m, while full year cash interest payments will incur £2.2m. It might be affordable from c£8m of free cash flow, but it’s hardly money well spent and the high level of debt will continue to be a drag on the share price, in our opinion!

Posted at 07/10/2022 12:33 by red ninja
Well there is no evidence of big holders selling ie no RNSes of reduced holdings.

The company seemed upbeat in the AGM statement ie new sales opportunities in public and private sectors.

They are even proposing to raise the interim dividend :-

"As a result, the Board is pleased to announce a return to interim dividend payments, with an interim dividend of 2.50p per Ordinary Share in respect of the six months ended 30 September 2022. This represents an increase of 150% over the final dividend of 1p, proposed for the year ended 31 March 2022."

Maybe that would have been better spent bringing down the debt burden.

I can't see them wanting to sell out at this low share price assuming they can manage the debt burden,

Posted at 27/11/2021 12:06 by red ninja
Investor's Champion comment (subscriber access) on last results :-


"Despite the attractive cash generation, we aren’t sure the market likes the debt load carried by this business. Net senior debt at the period end was still a hefty £31.2m, and £38.1m if one includes the dilutive convertible debt.

The outlook statement confirmed that AdEPT is on track to achieve management expectations for the year ending 31 Mach 2022.

Full year March 2022 adjusted forecasts are for earnings of 28.8p. At the current 216p share price this represents a very modest earnings rating of only 7.5x, although forecasts allow for plenty of adjustments.

The c£54m market capitalisation and Enterprise Value of £92.1m (including the convertible) equates to 8.9x forecast adjusted EBITDA of £11.7m for March 2022.

The shares look cheap on many levels and may remain so until the debt can be brought down, and there is also the issue of the convertible.

In August 2017 the Group raised £7,293,726 in the form of a convertible loan instrument from BGF to part fund the acquisition of Atomwide. BGF has the right to convert the loan to 1,855,910 shares at a share price of £3.93 per share at any time. The loan instrument can be redeemed by the Company from the third anniversary and bears an interest rate of 7%. 1.8m shares is equivalent to 7.5% of the current issued share count, although the conversion price is over 80% higher than the current share price.

We are of the view that management should focus on organic growth for now to generate cash and reduce debt. The shares should then start to perk up."

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