Cenkos Securities Share Discussion Threads

[keith95] 23/5/2017 21:39

Another £600,000 worth shares being bought this year ...

Under the EBT Share Purchase Plan the Trustee will instruct the Company, as broker, to acquire ordinary shares of 1p each in the Company ("Ordinary Shares") for the EBT. Purchases under the EBT Share Purchase Plan will be limited to £50,000 of Ordinary Shares (by market value) per calendar month and the maximum price paid for such Ordinary Shares shall be an amount equal to the higher of: (i) 5% above the average of the middle market quotations for such Ordinary Shares for the preceding five business days immediately preceding the day on which the purchase is made; (ii) the price of the last independent trade of Ordinary Shares on the venue where the purchase is carried out; and (iii) the highest current independent bid for an Ordinary Share as derived from the trading venue where the purchase is carried out.

[keith95] 22/5/2017 22:55

"I believe longer term CNKS share price will recover or CNKS will be taken out,has previous poster 2283,comments."

.. that previous poster was supposed to have been filtered ....

.. but I think you will find that the interim dividend approaches 4-5p so you should be looking at ~10% yield here .... moving up to 15% with a couple of big deals in the future, as a more than reasonable possibility.

This is a classic MM play .. they delay sells to make them look like buys by dropping the spread on the way down ... and pump quickly on the way up ....

... I'm not convinced that the MMs have finished with their delayed sells just yet so the only recent low we know of is 71p ... if the MMs want to give me 15% yield .. in next few weeks .. great :)

The big downside risk is what the directors with 16% of shares want to do with that holding going forwards, but that in itself provides a strength because it means the directors have a vested interest in success ... so interesting times.

The MMs also read the Cenkos BB's in my experience ... so I like to say "hi" to them

:)

[garycook] 20/5/2017 07:48

Since the Durkin announcement CNKS have dropped from 114p to 95p.Purchased more yesterday at 97.10p locking in a 6.2% Yield. I believe longer term CNKS share price will recover or CNKS will be taken out,has previous poster 2283,comments.Looking for at least 150p plus here.Also CNKS could raise the next Interim dividend from 1p paid last year,to at least maybe 2/3p depending on profits.So could be looking at around a 7/8% yield at around £1.Even at 150p CNKS would yield 5% with a full year 7.5p dividend.AIMHO.

[speedsgh] 19/5/2017 14:30

2016 AGM Statement:
"Whilst markets have proved challenging since the start of 2016, we have been engaged in a number of significant fund raisings for clients so far this year. Our pipeline and outlook for the full year is satisfactory."

2017 AGM Statement:
"Since the announcement of our 2016 final results, issued on 31 March 2017, the Company continues to trade well and our pipeline of potential new business activity remains encouraging."

Whilst the 2017 AGM Statement might be more +ve than the previous year's, I wouldn't be getting too excited. By my estimations they are currently level-pegging with levels of money raised by the same point in 2016. To be fair the 6 months post-Brexit vote were pretty awful so that could be where they can improve on 2016. Aimho.

[garycook] 19/5/2017 12:37

Just needs the share price to motor !

[cwa1] 19/5/2017 12:25

Surprised that nobody posted the AGM Statement from 17th.

For the record:-

"Since the announcement of our 2016 final results, issued on 31 March 2017, the Company continues to trade well and our pipeline of potential new business activity remains encouraging."

Short and pretty sweet I reckon.

[speedsgh] 19/5/2017 08:40

UK Oil & Gas (UKOG) has raised gross proceeds of £6.5m in a placing largely with institutional investors. Cenkos are joint broker alongside WH Ireland (who are also Nomad) so may have had some involvement...

Placing -

[speedsgh] 18/5/2017 10:58

Will Rogers (Head of Investment Companies: Corporate Finance) sold 30,000 shares at 100p each on 16/5.

PDMR Shareholding (17/5) -

This follows the recent grant to Mr Rogers of 83,262 shares under the 2016 Deferred Bonus Scheme...

PDMR Shareholding (12/4) -

[speedsgh] 18/5/2017 10:47

Further to post #2286, confirmation that 1PM (OPM) are looking to raise up to £13m. Cenkos would appear to be acting as broker for OPM on the Placing/Open Offer...

Acquisitions and Placing and Open Offer for £13m -

[speedsgh] 16/5/2017 16:36

Assuming they have retained their mandate, it looks like Cenkos may be raising funds for 1pm (OPM) imminently. Cenkos are currently Nomad/broker...

Statement re Press Comment (15/5) -

The Company notes the recent press speculation and confirms that it is in the advanced stages of conducting a fundraising in the region of £10 million in order to accelerate organic growth and to fund potential acquisitions in the invoice finance sector. The Directors intend to offer an additional material element of any such fundraising to existing shareholders of the Company, on a pre-emptive basis, through an open offer on the same terms.

A further announcement on the potential fundraising will be made in due course.

[speedsgh] 16/5/2017 16:32

Appointment of Joint Broker -

The Board of Breedon Group plc, the UK's largest independent construction materials group, is pleased to announce that it has appointed Numis Securities Limited as the Company's joint broker, with immediate effect. Cenkos Securities plc remains the Company's Nominated Adviser and Joint Broker.

[keith95] 12/5/2017 22:09

www.ey.com/gl/en/newsroom/news-releases/news-ey-2017-global-ipo-outlook-remains-robust-after-promising-q1-results

Good read on the current play ...

[keith95] 12/5/2017 22:00

... a retrace back to resistance of 100p for whatever reason was always a possibility.... but the wording of the RNS is that Durkin will retire from the company which is not the same as retiring ..... necessarily ... so maybe Numis for a new challenge .. I think I read that their CEO was stepping down.

.. either way the question is what to do with ~18% shares held by Durkin and Hodges.

The IPO market is still down owing to Brexit so I read today, but takeovers in UK on the weak pound are ballooning ...

... so it looks to me that Cenkos is very vulnerable to be taken out given that a quick deal between Durkin and Hodges and a third party would leave a bidder in a strong position, and if not, some fresh ideas I'm sure will enhance the business markedly.

Anyway ... looking to buy back a load at around the 100 mark :)

[topvest] 12/5/2017 19:05

Seems a bit of an over reaction- he's 57 so is of retirement age in this sector. Anything over 55 is on borrowed time. Bit of a shame that they haven't got a replacement lined up but there's plenty of time to do so. Cenkos is not a 1 man show!

[quepassa] 12/5/2017 18:09

Unusual that no reason given for Mr. Durkin's retirement.

I guess there will be increasing speculation as to any reasons behind his unexpected departure and what this means for Cenkos going forward given the major role he played in building Cenkos.

ALL IMO. DYOR.
QP

[speedsgh] 12/5/2017 10:50

Cenkos appear to have lost out to Stifel Nicolaus Europe (who were appointed as joint broker alongside Cenkos in Feb 2017) for the mandate to raise additional funds for Hurricane Energy (HUR) via a warrant issue. Looks like HUR are hoping to raise c£15m...

Warrant Issue -

[speedsgh] 12/5/2017 10:43

Dowgate Capital Stockbrokers have been appointed alongside Cenkos as broker to Rotala (ROL). Cenkos retain position as Nomad. Cenkos last raised £3m for ROL via placing in Jun 2016...

Appointment of joint broker (11/5) -

[speedsgh] 12/5/2017 10:38

Cenkos CEO, Jim Durkin (57), announces intention to step down once a suitable replacement has been appointed. Cf previous post #2184 -

Directorate Change -

The Board of Cenkos Securities plc today announces that it has been informed by Jim Durkin, Chief Executive Officer, of his intention to retire from the Company. A date for Mr Durkin's departure has not been set and he has agreed that to ensure a smooth handover he will continue to remain in the role of Chief Executive Officer and as a director of the Company until a suitable successor has been appointed.

The Board will immediately commence a search for a successor and will make a further announcement regarding the appointment in due course.

[speedsgh] 11/5/2017 13:18

Possible fundraising for Flowgroup (FLOW) in the offing. Cenkos are Nomad/broker...

Response re. press speculation -

The Company notes the recent press speculation and confirms that it is in the advanced stages of preparing a significant capital fundraising as a potential alternative to the proposed disposal of the Flow Energy business, as previously announced.

The directors of the Company (the "Directors") confirm that whilst discussions with the preferred bidder for the Flow Energy business continue, they are also in advanced discussions with Flowgroup's manufacturing partner to downsize and reduce its exposure to its microCHP business. In addition, the Company is in advanced discussions concerning a capital injection into the Group of in excess of £20 million, which would be necessary should the proposed disposal of the Flow Energy business not take place.

Should any such fundraising take place, it is likely that the investment will be made in the form of convertible securities and new equity and it is expected that the equity issue and convertible security conversion prices will be at 1.5p and 1.8p respectively. The Directors intend that a material element of any such fundraising will be made available to existing shareholders of the Company on a pre-emptive basis. Any such fundraising would be subject to the approval of shareholders in general meeting.

[speedsgh] 10/5/2017 08:27

Cenkos act as Nomad/broker to Provexis (PXS) who have raised £350k via a Placing. Further funds may be raised via a second Subscription. All very small fry but, if Cenkos are involved (there is no confirmation of their participation in the rns), then it might pay for a week's coffee & biscuits at the office, although I suspect that their fee is likely be in the form of issue of PXS shares seeing as PXS need the cash so much.

Results of Placing -

[boonboon] 10/5/2017 07:04

Fees and expenses16.1 The aggregate fees and expenses which are expected to be incurred by Aberdeen inconnection with the Merger are estimated to amount to £37,250,000 but excluding applicableVAT and other taxes. This aggregate number consists of the following categories:Category Amount (£)Financial and corporate broking advice (1) 27,500,000Legal advice (2) 7,500,000Accounting advice (2) 400,000Public relations advice (3) 500,000Other professional services (2) 0Other costs and expenses(2)(3) 300,000TOTAL 36,200,000

[speedsgh] 08/5/2017 14:09

NUM interims are not dissimilar to Cenkos' most recent results afaics & reflect the slow down in IPO/fundraisings in H2 2016 post Brexit. Their outlook statement/pipeline looks more encouraging. Aimho

[opodio] 08/5/2017 07:27

nasty results at numis today

[topvest] 03/5/2017 08:32

BCA Marketplace have announced they are moving from AIM to a full listing. More work for Cenkos.