Cenkos Securities Share Discussion Threads

[speedsgh] 11/12/2017 09:17

Further to post #2643, the expected timetable for the Tufton Oceanic Assets Limited IPO shows admission on 20/12 so, assuming successful completion, the fees earned by Cenkos on the "in excess of £100m" fundraising should just about fall into their current FY. H2 now looks to have been quite impressive.

Intention to Float -

Expected Timetable
Offer for Subscription closes -- 11.00 a.m. on 15 December 2017
Placing closes -- 3.00 p.m. on 15 December 2017
Result of Issue announced -- 8.00 a.m. on 18 December 2017
Admission and dealings in the Ordinary Shares commence -- 8.00 a.m. on 20 December 2017

[puzzler2] 11/12/2017 05:34

Looks like I stand corrected guys - thanks for the clarification.

[speedsgh] 10/12/2017 13:03

LG & jonox - Many thanks for clarification. I am currently travelling with sick child so difficult to check myself. If div tax changes are still coming into law on 6 April, my original comment re timing of 2017 final dividend still stands.

[jonox] 10/12/2017 12:53

Indeed, the Finance Bill (No.2) 2017 received Royal Assent on 16 November 2017. The tax-free dividend allowance from April 2018 is therefore reduced to £2000.

[lord gnome] 10/12/2017 12:37

Puzzler, speedsgh et al

The dividend tax change is now law and comes into effect next year. Enacted as Section 8 of Finance (No. 2) Act 2017.

[speedsgh] 10/12/2017 10:11

Tufton Oceanic Assets Limited have announced their intention to list on the Specialist Fund Segment of the main market. They are looking to raise in excess of £100m. Cenkos is acting as Joint Placing Agent & Financial Adviser.

Tufton previously announced their intention to float in Feb 2017 when they were looking to raise in excess of £150m; they then announced that the listing was being delayed to allow further time to raise required funds. All quiet until Friday's rns...

Intention to Float -

[speedsgh] 10/12/2017 07:33

Puzzler - Thanks for that. I had obviously missed it.

[puzzler2] 09/12/2017 20:06

speedsgh - the proposal in the Spring budget to reduce the tax-free dividend allowance from £5,000 to £2,000 from 6 April 2018 wasn't enacted (due to time pressures) and it wasn't re-introduced in the recent Autumn budget, so the allowance of £5,000 stands.

[guildedge] 08/12/2017 22:42

Note the director buy was from November 13th. Also the amount is barely above £1k.

The EBT was undoubtedly behind yesterdays bump in share price The share is very elastic with small volumes causing big changes in the share price Can't be much stock about.

Someone is still dumping stock here. Regular 10k and 25k sells. They did update their major shareholders page on 01/12/2017. HH holding was still shown at 12.97%. Not sure what they actually changed. Wait for RNS from HH if they are the seller.

Good news can't be far off here. Lots of IPO recently announced. They do need to add the November IPO to their website.

[cfro] 08/12/2017 16:00

Added a small amount more on this afternoon's dip.

May have to wait until next year for any kind of news on trading so a little patience needed till then.

[interceptor2] 08/12/2017 15:50

Two RNS releases this afternoon with another non ex buying a small amount at 101.7p and the EBT buying a larger amount at 111p.

Surprised that the share price would fall after this news?

[speedsgh] 08/12/2017 13:31

Just a thought. Cenkos tends to pay its interim dividend in Nov with a final dividend in May each year. However, as announced in the Chancellor's 2017 spring budget the tax-free dividend allowance will be reduced from £5,000 to £2,000 from 6 April 2018. In view of the large dividends received by many of its employees, it would not surprise me if the company pays out the majority of its 2017 final dividend as a 2nd interim dividend prioe to the current personal tax year end with a smaller token dividend payable in May in the new tax year, as they did a couple of years ago. #taxplanning

[speedsgh] 07/12/2017 20:33

Sector comment from a piece on Numis in the Tempus column in The Times today...

Floats add buoyancy in choppy water -

...Looking forward, Numis has said that trends observed in its last financial year have continued into the next. Like everything in investment banking, where revenues can tend towards being lumpy and unpredictable, this is no guarantee, but the company has pointed to a solid pipeline of visible business.

Certainly, with equities trading close to record highs, these are the sort of market conditions in which you would expect to see continued equity issuance and corporate mergers and acquisitions...

[tanneg] 06/12/2017 18:20

Paul Scott's comment on Numis results today, "My choice in this sector, on valuation & dividend grounds, is Cenkos Securities (LON:CNKS) (where I hold a long position)."

[mattboxy] 06/12/2017 10:40

Speedsgh many thanks for all the updatesLooks like a busy but rewarding week for Cenkos maybe a bumper divvy on the way!

[speedsgh] 06/12/2017 10:36

Further to post #2626, Seeing Machines Ltd (SEE) have announced that they have successfully raised gross proceeds of £35m through the Placing & Subscription. They may raise up to a further £2.4m thorugh the Open Offer. Cenkos has acted as Joint Bookrunner (alongside finnCap & Canaccord Genuity) on the fundraising...

Successful Placing and Subscriptions to raise £35m -

[speedsgh] 06/12/2017 10:26

Further to post #2625, Duke Royalty Ltd (DUKE) have announced that they have successfully raised gross proceeds of £20m. Cenkos acted as Joint Bookrunner (alongside Mirabaud Securities)...

Result of the Fundraising and Notice of EGM -

[quepassa] 06/12/2017 07:14

Very strong full-year preliminary results released this morning by peer group competitor Numis who see PBT increase by 18%. Buoyant statements about volumes, activity levels and pipelines.

Hopefully a good read-across for Cenkos.

This is an extract from the statement by Numis this morning on Current Trading and Outlook:

"Our new financial year has started well as we have benefited from the momentum we experienced in the second half of 2017. We have completed 11 fund raises to-date, a number of M&A transactions and revenue from the Equities business is currently ahead of the 2017 daily run-rate.

Our deal pipeline is strong and we remain determined to support ambitious companies of all sizes seeking capital and high quality advice to grow, whilst simultaneously investing in our people, platform and relationships. Whilst we cannot predict the direction of the market or the health of the equity issuance environment, there is good momentum in the business and we look forward to the future with confidence."


Confident and positive.

Always important to keep an eye on how the competition is faring.

ALL IMO. DYOR.
QP

[cfro] 05/12/2017 10:03

Yes thanks speedsgh for highlighting all the fundraising news. I would miss most of it myself.

[speedsgh] 05/12/2017 09:51

Further to post #2624, Regional REIT have conditionally raised £50m under the Firm Placing. They are now looking to raise up to a further £50m through the Placing, Open Offer & Offer for Subscription. They are therefore looking to raise gross proceeds of £100m from the entire Capital Raising. The Board may increase the size of the Issue by up to 25% if there is sufficient demand. Cenkos are acting as Joint Placing Agent (alongside Peel Hunt)...

Results of Firm Placing -

[hardupfedup] 05/12/2017 08:35

dumo dump dump...... imo

[interceptor2] 05/12/2017 07:46

Thanks speedsgh for highlighting the new fund raising that CNKS are involved with, I seem to miss these announcements.

Not surprised to see that Directors have been buying shares recently.

[speedsgh] 04/12/2017 18:14

Cenkos are acting as Joint Bookrunner (alongside finnCap & Canaccord Genuity) on a proposed Placing & Subscription to raise approximately £30m and Proposed Offer to Qualifying Participants to raise up to £2.4m for Seeing Machines Ltd (SEE)...

Proposed Accelerated Bookbuild -

Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the "Company"), an industry leader in computer vision technologies which enable machines to see, understand and assist people, today announces its intention to conduct an accelerated bookbuild (the "Bookbuild") to raise gross proceeds of approximately £30 million (approximately AUD$53 million) by way of a conditional placing (the "Placing") and subscription of ordinary shares of no par value in the Company ("Ordinary Shares")...

...Seeing Machines has entered into a placing agreement with finnCap Ltd ("finnCap"), Canaccord Genuity Limited ("Canaccord Genuity") and Cenkos Securities plc ("Cenkos") to act as the joint bookrunners in relation to the Placing (together the "Bookrunners")...

...Subject to the closing of the Placing, the Company also proposes to make an offer to Qualifying Participants to raise up to a further £2.4 million (approximately AUD$4.3 million) at the Placing Price (the "Offer"). The terms and conditions of the Offer will be set out in a circular to shareholders which will be sent following the successful completion of the Bookbuild...

[speedsgh] 04/12/2017 18:08

Cenkos are acting as Joint Bookrunner (alongside Mirabaud Securities) on a proposed Placing & Subscription to raise at least £20m for Duke Royalty Ltd (DUKE)...

Proposed Fundraising to raise at least £20 million -

Duke Royalty Limited (AIM: DUKE), the royalty financing company, is pleased to announce a proposed conditional placing and subscription ("Fundraising") to raise at least £20 million, before expenses, by way of a Placing of New Shares at a price of 40 pence per share (the Issue Price) and a Subscription by certain overseas investors on the same terms. The net proceeds of the Fundraising will allow the Company, inter alia, to continue to finance its diversified pipeline of royalty financing opportunities...

...The Placing will be conducted by way of an accelerated bookbuild process ("Bookbuild") which will be launched immediately following this Announcement, in accordance with the terms and conditions set out in the Appendix to this Announcement. Cenkos and Mirabaud are acting as joint-bookrunners in connection with the Placing...

[speedsgh] 04/12/2017 18:01

Cenkos are acting as Joint Placing Agent on the Placing, Open Offer and Offer For Subscription to raise up to £100 million for Regional REIT (RGL). The issue can be increased by up to 25% if there is sufficient demand...

Proposed Capital Raising -

Regional REIT (LSE: RGL) is pleased to announce it has agreed to acquire a portfolio of three real estate properties from NW UK III Limited comprising office properties in Woking, Cheshunt and Edinburgh and a portfolio of 17 office properties from Archimedes Real Estate LP (a fund managed by M7 Real Estate Limited) (the "Acquisitions").

To finance the Acquisitions the Company is proposing a Capital Raising to raise gross proceeds of c.£50 million through the issue of New Ordinary Shares by way of a firm placing ("Firm Placing") and additional gross proceeds of up to £50 million by way of a placing, open offer and offer for subscription ("Placing, Open Offer and Offer For Subscription"), all at an Offer Price of 101 pence per New Ordinary Share. The Capital Raising is conditional, inter alia, on minimum gross proceeds of £65 million being raised pursuant to the Capital RaisingThe Board will have the ability to increase the size of the Issue by up to 25 per cent. should there be sufficient demand...

...The Firm Placing is being conducted by way of an accelerated bookbuild on the Company's behalf by Peel Hunt LLP ("Peel Hunt") as Sole Bookrunner in conjunction with Cenkos Securities plc (the "Joint Placing Agent")...