Santa having a bit of a rally on this? |
1.3m of a loss for 6months trading is quite eye watering. i worry the cash balance won't last much longer here either. There is only so long you can continue to talk about operational.gearing without actually doing something about it. Refusal to reduce headcount must also pile on profit and cash pressure for next year with the national insurance increases.
I suspect a trading warning is around the corner come new year. market guidance from H1 actuals seems a very tall order. |
Of course Scott does not big up there new products, but it seems to me they are not running out of the door, and looking at sales overall - well l the figures speak for themselves.
Scott concentrates on what is really required - the stuff that makes the world go round - the money.
Redbart - lots of ifs in your response and which I did not seem to get during there last presentation. In fact they seem to be between 2 horses at the moment and are still in bed with Spirent whilst at the same time fishing around for independent sales. |
Paul does not have any particular expertise in the tech sector. They do have tech at the forefront of it's role and are a well run business imo. |
Scott doesn't appear to comment about the groundwork that has been done to develop new products and diversify away from the telecoms industry and it's vagaries.
It doesn't mean that they will succeed, but they do have a track record.
If they can add reasonable, and growing,levels of revenue at good margins then all is not lost.
I have no clue as to what normal levels of telecoms revenue should be in a once again growing market.
Gross margins are in the mid-70% range and so far that has remained stable.
red |
This lifted from the excellent Paul Scott on his weekly round up of shares. He does an excellent daily podcast
Calnex (CLX.L) - Interim Results
These results are as bad as you would expect from a company that brings out the dreaded R-word as the first word in the RNS:
Resilient trading in challenging telecoms market
Ufortunately my pad would not allow me to C&P the table into this posting. Suffice to say he concludes
That means they have had £5m of cash outflow in the last year. Bad but probably not fatal as they say:
Cash increased to £10.3m at the end of October, driven predominantly by a £1.1m corporation tax refund and R&D tax credit receipt.
On outlook:
The Board expects to close the year in line with current market expectations, although uncertainties in the wider economic environment persist.
So that’s not the warning, but it is definitely the pre-warning. How on earth this continues to defy gravity in a terrible small cap market, we don’t know. |
yep was 10.3 qfter normal shenanigans played with tax and grants |
"You cannot sell this market to open." Shorting is blocked.
The apparent absence of downbets does not nobody wants to!
In fact it kinda indicates that they know people wish to. |
Cash end Oct of £10.3m after Corp tax refund and R&D tax credit. |
Cash down from 13.5 - 8.6 yet. Losses increased - but still pays out a divvi? |
hxxps://presentations.investormeetcompany.com/investor-meet-company/CALNEX-SOLUTIONS-PLC-Interim-Results-42a21cde3e3da4958bcb7c4b?bmid=abed6a58c78a |
Thank to Freddie on another board
hxxps://www.rcrwireless.com/20241106/private-5g/bt-business-private-5g
Not exactly glowing |
Hmm wonder if they will include why they have given themselves lots of nice bonuses |
Calnex Solutions plc intends to announce its unaudited results for the six months ended 30 September 2024 on 19 November 2024 |
well thats a turn up.But its a NED - not Tommeh or one of the directors which would have been nice. Csnt rememeber the last time I saw an RNS about the Exec buying shares - but happy to ask for more options.
Well done Graeme |
 Calnex requires patience
Investors will need to remain patient with test and measurement instruments provider Calnex Solutions (CLX) as it fails to escape subdued industry activity, says Sanford DeLand manager Eric Burns. He holds the stock in his £67m CFP SDL Free Spirit fund where it gained 12.4% in August on the back of an annual general meeting trading update that confirmed performance was in line with expectations.
However, the company suffered a setback earlier in the year when it made the decision to terminate its reseller agreement with Spirent Communications (SPT). Burns said this "caused some unease among investors but reassuringly, a new channel partner network is now operational and covering the group’s territories of North America, Europe, Middle East and Africa, and Asia Pacific. The company is also working to establish direct supplier relationships with several of its key customers. Despite these positive operational developments, it should be noted that the industry outlook remains challenging with activity levels expected to remain subdued for the remainder of the year." he said
The tough backdrop means ‘patience will continue to be required here,’ said Burns. The shares tumbled 3.9% to 50p on Tuesday, extending losses to 58% over the last 12 months. |
I am voting no.
red |
I dont remember being consulted. Anyway the way ths share has been performing. I thnk they are cheeky barstewards:
Proposed Amendment to Existing Incentive Schemes
and Notice of General Meeting
Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement solutions for the global telecommunications and cloud computing markets has today sent a Circular to Shareholders setting out details of a proposed amendment to the Company's existing share-based and non-share-based incentive schemes (the "Existing Incentive Schemes").
The Company is currently restricted under the terms of certain of the Existing Incentive Schemes from issuing options over Ordinary Shares exceeding 10 per cent. of the Company's issued share capital (the "Current Share Option Limit"). In order to enable the Board to continue to use share-based incentive schemes to retain, recruit and incentivise executives, senior management and key staff of the Company, in what is a highly competitive market, the Board of Calnex recently undertook a consultation process with a significant number of institutional and individual shareholders to establish their views on the Board's proposal to amend the Current Share Option Limit.
Having considered the feedback from the consultation process, the Board is proposing to increase the Current Share Option Limit to 12.5 per cent. of the Company's issued share capital. It is intended that, following the use of this additional headroom for a period, the Board will seek to manage the number of options granted under the Existing Incentive Schemes below 10 per cent. of the issued share capital.
The proposed amendment to the Current Share Option Limit requires the approval of Shareholders and the Company will today post a circular to Shareholders, along with a notice convening the General Meeting, which is to be held at Oracle Campus, Linlithgow, EH49 7LR on 2 October 2024 at 9.30 a.m.
Further details on the proposal are set out below in the Letter from the Chair of the Company and both the Circular and Notice of General Meeting are available on the Company's website www.calnexsol.com. |
It is a well known fact that if your customer isn't placing any orders, it is quite certain that you will not receive any.
Such is life, until they recommence ordering.
red |
Slowly creeping up with a 20% rise over the past couple of months. |
Reviewing last year, there were 1m nil price options issued to management around the same timeline, so this is clearly a recurring LTIP, which makes the volume very eyebrow raising. Currently 2m nil price options issued to management in 2 years!. The typical share scheme for a FTSE100 C suite is around 100-150% of salary a year - with the greatest respect to the calnex board, they are not a FTSE100, and reviewing the biographies, do not have the pedigree that would suggest this level of remuneration is justified. Share price performance shows it certainly hasnt been earned.
Thankfully i was an early investor at 52p, the current share price is on my watch list, buy isnt setting off any huge red flags given the market conditions. What is giving me cause for concern, is my feelings toward the board who are incentivising themselves so heavily. Trust in the C suite, and gut feel play a huge part of AIM investing - CEO and CFO are losing goodwill that came from the early presentations where both came across as credible. I worry now this is the age old AIM story of deep pocketed boards retiring on shareholder losses..
An earlier post used the analogy of pigs at the trough, it is hard to disagree. Agree the half year statements will be very revealing. |
You have to assume that the interim report due in November must be positive, or else this award seems wholly inappropriate given the plummeting revenues, profits and cash. Quite shameful.
I had expected news of lay offs at CLX, it seemed inevitable that cost efficiency measures were required to address the operational gearing given the market is still stagnant. If they are cutting costs, whilst issuing shre options of this scale to the C suite, it is in exceptionally poor taste. If they are not cutting costs and delivering large loss making portions to shareholders, then this board needs removed. It's competency and and judgement seem compromised by greed. |
Well here is that chance to hold the board to account:
Notice of Annual General Meeting and posting of Annual Report
Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement solutions for the global telecommunications and cloud computing markets, confirms that its Annual General Meeting ("AGM") will be held on 22 August 2024 at 9am at Oracle Campus, Linlithgow, EH49 7LR.
The Company's Annual Report and Accounts for the financial year ended 31 March 2024, along with the Notice of Annual General Meeting and a Form of Proxy, has been posted to shareholders and is available on the Company's website at: hxxps://investors.calnexsol.com/.
AGM arrangements
The AGM will be held in person, but we are pleased to offer the opportunity again for shareholders (or their duly appointed representatives and/or proxies) to participate remotely via Zoom, with the details of how to participate set out below. It would help the Company's planning if shareholders who wished to attend in person could email investors@calnexsol.com by no later than 5.30 p.m. on 8 August 2024 to confirm their wish to attend in order that the Company can be confident that the facilities proposed for the AGM will be able to accommodate attendance.
Details of any significant changes to the AGM arrangements will be published on the Company's website (hxxps://investors.calnexsol.com/regulatory-news-alerts/) and shareholders are reminded that they can register for email alerts.
The Company is committed to encouraging shareholder engagement on the business of the AGM. As such, in addition to voting by proxy, shareholders (including any of their duly appointed proxies and/or corporate representatives) will be able to participate in the AGM by Zoom. Participating by Zoom will allow shareholders to view and listen to the AGM remotely and to follow the proceedings in real time as well as asking questions, if they are invited to do so. Please note, however, that shareholders will not be able to vote if participating by Zoom and it is therefore important that, if they wish to vote at the AGM, shareholders either physically attend the AGM or appoint a proxy to attend and vote on their behalf. Information on how to participate by Zoom can be found below.
In order to participate by Zoom, shareholders will be required to pre-register by sending an email to investors@calnexsol.com by no later than 5.30 p.m. on 8 August 2024. Shareholders will then be sent by email a link to the Zoom meeting with detailed joining instructions.
The results of the voting will be available on the Company's website at hxxps://investors.calnexsol.com/ as soon as practicable after the conclusion of the AGM.
Dividend timetable
As confirmed in the announcement of the Company's final results for the year ended 31 March 2024, released on 21 May 2024, the directors are proposing a final dividend of 0.62p per share. The final dividend will be proposed for approval at the AGM and, if approved, will be paid on 30 August 2024 to all shareholders on the register as at close of business on 26 July 2024, the record date. The ex-dividend date will be 25 July 2024. |
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