Air Partner Share Discussion Threads

[steeplejack] 31/7/2018 12:24

Company Secretaries aren't decision makers but they do obviously have close knowledge of what's going on.This is a blunt statement and begs the question.Has the incumbent been sacked,is she leaving,what has happened?Totally unsatisfactory and following on recent problems,unsettling.This company has no idea how to communicate with the City.The NOMAD is a waste of space by all accounts.

[trident5] 31/7/2018 12:09

She's still shown as Secretary at Companies House.
Could be of no consequence, or could be a major concern following recent woes and the loss of the FD.

[mutantcar] 31/7/2018 11:47

RNS re change of company secretary? Can't understand why that would cause a drop, but what do I know. Anyone?

31 July 2018

LEI: 213800JLR6YIRMSCUS98



Air Partner plc

('Air Partner', 'the Company' or 'Group)



Appointment of Company Secretary



Air Partner announces that Prism Cosec Limited ('Prism Cosec') has been appointed as Company Secretary with immediate effect.

Prism Cosec provides outsourced company secretarial and corporate governance advisory services and will take responsibility for company secretarial matters within the Group on an interim basis, until a suitable candidate for an in-house role as Company Secretary has been identified and appointed.

Ends

[hydrogen economy] 31/7/2018 11:30

7% Drop today - looks ominous, anyone know what's caused it?

H2

[spacedust] 30/7/2018 16:34

Castlefield are loading up. Now over 16%

[iasike] 27/7/2018 17:11

Thanks for that Steeplejack. appreciated.

[steeplejack] 25/7/2018 19:37

As far as Liberum is concerned, Air Partner's strategy and fundamentals have remained "intact and attractive".Air Partner's continued broking development, supported by selective recruitment and complemented by the addition of new more stable income streams in consulting and training led the broker to resume coverage on its client with a 'buy' recommendation and a 155p target price.On 3 April, the global aviation services group revealed that it had discovered a "historic accounting issue" during its year-end process, leading management to immediately order a thorough independent investigation. The outcome of which was the identification of a £4.4m cumulative overstatement of profits since 2010/11.Analyst Gerald Khoo said that while Air Partner's recent "accounting issue" was "disappointing", and required him to rebase his forecast, he felt it had not impacted growth or cash generation.Liberum, which is house broker of the AIM-listed company, cut its earnings per share forecasts by 6% for 2019 and 5% for 2020 to reflect the lower starting point after adjusting for the overstatement of profits but, in underlying terms, its estimates were little changed."We consider Air Partner's valuation to be attractive given its growth outlook and the potential for the group to continue to reposition itself towards aviation safety consulting and training, and higher quality earnings. Cash generation remains strong, supporting ongoing investment in the business and an attractive and growing dividend stream, while still providing headroom for further acquisitions," said Khoo.

[steeplejack] 20/7/2018 07:44

A final 3.8p dividend is being paid today,20th July,making a full year payout of 5.5p.You're either on the share register on the date the shares go XD or not.The idea that you accumulate some dividend is confusing ordinary equity dividends with gilts which do trade with accrued interest.If I hold a gilt and sell it,the buyer will give me a percentage of the upcoming coupon (dividend) on that instrument.Income on bonds accrues over time.This is clearly not the case with equities.Income funds quite commonly strip a dividend by buying ahead of a stock going XD and then selling it after,waiting for the receipt payment of the dividend several weeks later.

[spacedust] 19/7/2018 20:31

Deadline ...... I think he means

[goodpick] 19/7/2018 19:53

hxxp://www.dividend.com/dividend-investing-101/dividend-dates/

You lose your right to the dividend after the ex dividend date. The share price will be impacted straight after the ex div date not the date the div is paid.

I haven’t heard the term expiry of ex div date before.

[dontay] 19/7/2018 19:16

Yes, the current ex divi period which started on the 21/6 expires tomorrow which is when the funds are due to be paid out.

[goodpick] 19/7/2018 18:26

Thanks Dontay

I thought the ex divi date was the 21st or June and the dividend is due to be paid tomorrow ?

Agree with you about newsflow and expecting a positive update at the end of August so there is a risk of being left behind.

[dontay] 19/7/2018 17:39

Goodpick... a rather confusing cut 'n' paste but I expect it's now understood what the FT article contained... can't see it's anything that's particularly enlightening and that would cause the recent share price to rise tho. IMO the uptick is probably more to do with the dust settling and the market moving on from the recent tribulations, plus excepting the results of the review, coming to grips with the outcomes... and realising that an excellent first half year is now in prospect... with even the commercial jets business now apparently back on track and showing good strength. With expiry of the ex-divi period tomorrow and only around six weeks before another trading update is due and with the figures due to be published a month after that... there is the expectation of some positive news flows in reasonably quick succession for a least the next couple of months! I'm also fully expecting for the recent planned acquisition that was put on back burner.... to be brought back into the headlines pretty soon! Some new broker views/news/upgrades would now help thing along quite nicely! The spread for this is all over the place but hoping the ask price stays reasonable at least for tomorrow so we get a good divi re-invest price!

[goodpick] 18/7/2018 22:19

That was it below !!

[spacedust] 18/7/2018 20:08

Could you copy and paste the article ?

[goodpick] 18/7/2018 18:46

Of course, situations develop that are more complex and not always clear cut. Two recent examples for me in this category have been Air Partner and PZ Cussons. With the former, the shock announcement of accounting irregularities over many years saw the shares virtually halve to between 70p and 80p.

I kept my nerve, had faith that AP could withstand the likely financial write-off and recover over time. Thankfully, this transpired with the shares recovering to 110p — indeed I have just bought more. Further encouragement has come from Peter Saunders, chairman, who just doubled his holding, buying a further 25,000 at that price.

John Lee Article in the FT.

[goodpick] 18/7/2018 17:17

Spread currently very high and would cost 130p to buy and 122p to sell which suggests they don’t want you to buy as they don’t have much stock so maybe this is due another leg up ?

If anyone buys they will have to accept the order and then drive the sell price up to get some sells to fulfil the buy order.

That’s a theory anyway...

[goodpick] 17/7/2018 20:22

Call me simple but I thought the less liquid a stock the higher the spread to reduce the risk for the market maker as there is enough of a margin / gap.

Larger higher volume stocks have narrow margins as I assume they are more actively traded so lower risk for the mm who can easily shift stock or pick up stock.

[thorpematt] 17/7/2018 19:19

I tend to screen out high spread stocks. They come off my buy list before they get into it usually! At the very least I'll monitor the spread in the days prior to buying. This one has hovvered around 300 - 700bps and certainly the rise in interest here of late has helped liquidity I feel.

NMS is 3000 shares so buying in chunks of that or less is what I do. (a tip if you're interested).

All of that said I think the mis-price here enables 3% or so for the market makers and still allow a nice investment return for us.

[spacedust] 17/7/2018 11:49

Lift off. Chart looks awesome for 140p plus now

[goodpick] 17/7/2018 09:05

....but doesn’t look like many sells !

[goodpick] 17/7/2018 09:04

Mighty thin spread here unusual for this stock.

Market makers encouraging sellers as they are short of stock.

[spacedust] 16/7/2018 19:45

Amy chance of a copy and paste for the article?