Argentex Share Discussion Threads

[mighunter] 04/5/2024 14:20

Answer is in the documents "as a significant proportion of the Company's existing cash resources are required to support the existing regulatory and working capital requirements of the business."

[thaiger] 04/5/2024 11:49

Can't understand why they need to raise fund, as they have cash. Raised £3.2m @45p at a significant premium to the closing price on Friday?!? Retail Offer at same price to placing yet one could buy at below 37p!Something is not right??

[adamb1978] 03/5/2024 15:57

Hi

Can someone help me with the difference between AGFX and CSFS? Reason for asking is that:

AGFX recently said "The adverse market conditions experienced during 2023 continued into the first quarter of 2024"

CSFS Jan TU: "The Group is pleased to confirm that the previously reported strong trading momentum was sustained to year end"

CSFS prospectus said: "The Directors believe, there are three notable competitors quoted on the London Stock Exchange: Argentex Group Plc, Equals Group Plc (formerly FairFX) and AlphaFX Group Plc. These listed foreign exchange businesses have different sector focuses to the Group...."

Is that different in trading experience really as simple as different sector focus? I know CSFS talk heavily about their tech platform...whereas AGFX makes less of a play of tech.


Reason for asking is that, whilst I apply almost complete strategic ignorance in investing and invest almost purely on numbers, its hard to ignore read across from one competitor to another. I have a small/moderate position in CSFS and believe it looks cheap even if you assume zero growth on top of their their annualised H2 2023 figures.
Cheers

Adam

[sam_] 03/5/2024 15:16

It’s climbing back fast before the weekend!

[toffeeman] 03/5/2024 10:14

They don't need to do anything - no one will take the offer. Wonder if Pacific shorted the stock at 50 and bought the raise :)

[hamid1970] 03/5/2024 06:25

Offer is open until the 9th, so if share price recovers......

[dr biotech] 03/5/2024 06:14

Well I’m going to pile in at 45p. May even have to sell my current holding to pay for it..



They should just can it and save what money/dignity they can

[hamid1970] 02/5/2024 21:26

Lots to play for IMO a sticky customer base, very good operational rep. A new CEO with a fresh and realistic view of the world. The founders took their eyes off the ball, good to see they have all left and we have someone with no deep emotional attachment.
From here on in its about Operational execution against the plan along with good comms.
Reading through this mornings RNS I conclude that the reset sounds logical and constructive. Sometimes businesses need a fresh pair of eyes, incumbents could not see the wood for the trees IMHO

[phillis] 02/5/2024 21:05

How can any Board be so out of touch with its shareholding base?

[mighunter] 02/5/2024 20:00

So hat-tip to Carcosa - albeit the link was more in relation to Equals. hTTps://fleetcor.gcs-web.com/static-files/55d9f576-40c4-459a-a1e0-aec5e6aa9badSome relevant phrases: "making buys in corporate payments is the highest M&A priority we have""The company will focus acquisitions across the board on existing geographies of the US, Brazil, the UK and mainland Europe, looking to penetrate - deeper, not wider" After some research, Fleetcor, now Corpay bought a U.K. payments company called Global Reach Group in 2022. Immediately earnings accretive to Corpay, Global had FX turnover of £7bn and for FY 21 and FY22 made losses of £12k and £97k. Net assets were £13.5m for both years. It had circa 1500 clients with a focus on Canadian payments and Offices in Amsterdam and Madrid. (Versus Argentex Total FX turn of £12.75bn in FY21, Net assets end of FY23 of £41m and 1938 corporate clients). Now admittedly there's no publicly disclosed consideration figure, but the point is to say there's a clear and largely comparable example where Argentex would have some plug and play value with a large payments provider who can extract large synergies. And one that have already publicly stated their intent. There's some good input on the board here but to say there's nothing valuable left in Argentex to a major just isn't borne out by the particular example above.

[yump] 02/5/2024 18:57

Nothing to gobble up.
Exactly.

Ah but they are into the “next stage” of their development, so its all good.

Although if that means following the trend, then in a year or so the developments will produce a share price of 10p.

[mighunter] 02/5/2024 18:44

Corpay would not surprise me

[mighunter] 02/5/2024 18:24

Stripping out the Pacific and Director allocations gives a figure that to within a few thousand corresponds to 10% of the Gresham holding. So suspect they were the other main shareholder chipping in to aim for zero dilution.

[zebbo] 02/5/2024 18:10

I feel someone will gobble up AGFX

[qs99] 02/5/2024 18:02

Not great news if you can't even fill the Placing you have announced....will this small sum make a big difference? DYOR

[dr biotech] 02/5/2024 17:06

Pacific investment managers seem to have taken most of them.

Its a dismal update and I'm going to sell my remaining shares soon. Its used to be about 3-4% of my total but now is less than 0.4%. I sold most when Harry Adams got the chop - not that I was a fan of his, just the lack of explanation

[marcandrew] 02/5/2024 17:04

"Retail offer of new Ordinary Shares (the "Retail Shares")
at the Placing Price".
They will need to come out with some good news in the morning, to make that worthwhile.

[silverlandfinance] 02/5/2024 16:59

I have had another quick look at the RNS published this morning in respect of the placing.
Two things stand out.
1)The company has identified a "sizable opportunity". Does this mean that it is to acquire another company?The wording does not indicate that it is raising money to expand what it already has.
2)The placing with the instutions is to open and close on the same day ie 2nd of May. In other words, we will know the results tomorrow. Does this mean that the company knows that it has firm takers at 45p a share.
If this is the case, the share price should rise to 45p tomorrow.

[phillis] 02/5/2024 16:41

Have Singer had to take the lot?
Serve them right

They haven’t read investor sentiment v well

[earwacks] 02/5/2024 14:23

HSBC launched Zing at the beginning of this year in a ‘big fight back to fintech companies.’ It’s got off to a luke warm start. No surprise there. The question is will more banks follow. Personally I think banks are too lazy and too incompetent to make any fight back a substantial threat. The question therefore is why don’t the banks just buy a ready made Equals or Agfx? Probably be cheaper for them in the long run. So the outcome of the protracted Equals take over or should it be please take me over, largely defines whether Agfx is a takeover or basket case. They have been a total mess since the IPO but is it actually a business with a future or did they just seize an opportune moment while banks were forced to redefine themselves? Agfx was a punt at £1, a punt at 80,70,60,50,40 and now 35p. Uncomfortably familiar story here. As said many times the truth about this decline and history of the founders is not entirely clear to me, although I have delved. I think there are better risks out there like roulette

[nick rubens] 02/5/2024 14:08

silverlandfinance

"How do you square a placing price of 45p per share with a market price of 36p"

1. Placing could flop?
2. Placing stock is to be simply worth less in the market as there are no other outlets to sell them who will promise 45p back to placees.
3. Your scenario, maybe the market is wrong?

[johndoe23] 02/5/2024 13:27

Probably the market doesn't trust the company!