Cenkos Securities Share Discussion Threads

[speedsgh] 22/5/2018 08:07

New mandate announced yday. Cenkos have been appointed sole broker to AEW UK Long Lease REIT (AEWL) replacing Fidante Capital...

Change of Broker (21/5) -

AEW UK Long Lease REIT plc ("the Company"), which directly owns a diversified portfolio of UK commercial property assets, today announces the appointment of Cenkos Securities plc to act as the Company's sole broker with immediate effect.

[glawsiain] 16/5/2018 15:07

Comment from Paul Scott yesterday on stockopedia:

"
Cenkos Securities (LON:CNKS)

Share price: 110p (up 5.3% today, at 13:51)
No. shares: 55.3m
Market cap: £60.8m

(at the time of writing, I hold a long position in this share)

AGM Statement (trading update)

Disappointing Q1
Fee income has improved (in Q2, presumably)
Pipeline also improving
More optimistic on full year outlook
Capital position has improved, through asset disposals


My opinion - I don't normally invest in financials, but this broker has looked strikingly cheap for some time. The balance sheet is also very strong.

Earnings are erratic, but the company pays out hefty dividends in the good years.

It's a nice share to tuck away for income, which is why I hold it. Every now and then a whacking great dividend appears in my account. In the last 6 years, it has paid out 65.5p in divis - for a share which you can buy now at 110p.

I was worried about the risk of the company de-listing, if the valuation remains this low. Graham's article yesterday on de-listing risk, was I think excellent, and a timely reminder. In the case of Cenkos, I doubt it would de-list, because the listing serves the purpose of allowing staff to cash in their share options & sell them into a market. That continuous selling could be why the share price remains so depressed, maybe?

Its profits are highly erratic, because the big years are due to one-off large flotations. Even so, it seems a very attractively-priced share to me, if future business is good. Today's update seems reassuring, and seems to be pointing generally towards more buoyant stock market sentiment. It looks as if this bull market could continue."

[speedsgh] 15/5/2018 15:53

Today's news re the failure of the BOOM placing no doubt partially explains the opening comment in Cenkos's AGM statement, "After a disappointing first quarter..."

By my estimations Cenkos have helped to raise c£110m in Q1 2018, compared to c£250m in Q1 2017.

However the market is supposed to be forward looking so it may concentrate more on the recently completed £174m placing/open offer for Breedon Group (BREE) and £43m IPO placing for Rosenblatt Group (RBGP) as well as the slightly more confident outlook in today's AGM statement.

[speedsgh] 15/5/2018 15:39

Further to posts 2721 & 2804, Audioboom (BOOM) have announced that they are withdrawing from their proposed acquisition and that, in spite of supposedly significant demand, it has not been possible to complete the £155m Acquisition Placing. Cenkos was acting as joint broker to the Placing alongside Allenby Capital & Zeus Capital.

It sounds like BOOM are in a financially precarious position with further funds required in the short term for working capital purposes.

Withdrawal from proposed acquisition -

[quepassa] 15/5/2018 07:34

"MORE OPTIMISTIC than hitherto about outlook for rest of year"

"The Company's capital position HAS IMPROVED"

"Fee income HAS IMPROVED"

"IMPROVEMENT in our PIPELINE transactions"



1 x MORE OPTIMISTIC

3 x IMPROVED/IMPROVEMENT



Lots of magic words.

Bodes very well.


ALL IMO. DYOR.
QP

[cwa1] 15/5/2018 07:31

Not a lot of meat on those bones but I suppose it's about as positive as we could hope for going forward.

[speedsgh] 15/5/2018 07:29

AGM Statement -

... "After a disappointing first quarter, in which market volatility had a significant impact upon investor sentiment, fee income has improved. Furthermore, we have seen an improvement in our pipeline of prospective transactions and consequently we are more optimistic than hitherto about the outlook for the rest of the year. The Company's capital position has improved in the second quarter, aided by asset realisations."

[speedsgh] 14/5/2018 09:27

Further to posts 2787/2788, Breedon Group (BREE) announced on Friday that they have successfully raised £4.2m via the Open Offer which was announced alongside the £170m placing on 17/4. Total raised is therefore £174.2m. Cenkos are Nomad/joint broker to Breedon alongide Numis...

Results of Open Offer -

[spooky] 11/5/2018 09:08

The shares look much too cheap to me.

[quepassa] 11/5/2018 08:50

Interesting. Hot sector.

Just as Zoopla has agreed a 490p takeover by US private equity firm Silver Lake for £2.2bn at a 31% premium according to CityAM.

If the rumours prove true, a very nice piece of high-paying work for Cenkos for a good sized transaction.

ALL IMO. DYOR.
QP

[speedsgh] 11/5/2018 08:29

Possible work in the pipeline for Cenkos...

Online estate agents eMoov and Tepilo in £100m merger talks -

...Cenkos Securities, the investment bank, has been lined up to take the company public.

eMoov and Tepilo in talks to merge and take on Purplebricks -

...Sky News yesterday evening revealed that the two companies are in an ‘advanced state’ of negotiations and were planning to acquire an unnamed third estate agency as part of the deal, valuing the total entity at over £100m.

Investment bank Cenkos Securities has been lined up to take the merged company, which would operate the Tepilo and eMoov brands separately, to an IPO.

[speedsgh] 08/5/2018 08:29

Further to post 2811, Rosenblatt Group (RBGP) have today been admitted to trading on AIM & confirmed the successful placing of £43m which was significantly oversubscribed. Cenkos are acting as Nomad/sole broker...

Admission and First Day of Dealings -

[speedsgh] 03/5/2018 13:13

Further to posts 2760/2761/2793, confirmation today that Rosenblatt Group are planning to raise c£43m on Admission through a placing of both new & existing ordinary shares (£35m via new shares; £8m via existing shares).

Admission is expected on 8/5. Cenkos are acting as Nomad/broker.

Schedule 1 Update: Rosenblatt Group Plc -

[spob] 02/5/2018 14:43

i know but just clarifying for others

[lord gnome] 02/5/2018 14:15

I think goldry may possibly have been joking. This share has always bounced about a bit on thin trade.

[spob] 02/5/2018 14:02

Final Ex 03/05/2018 Paid 31/05/2018 4.50p
Interim Ex 12/10/2017 Paid 09/11/2017 4.50p

[goldry] 02/5/2018 13:52

I thought ex Div was tomorrow, but it's obviously today!

[speedsgh] 01/5/2018 14:26

Further to post #2803, 88 Energy Limited (88E) have confirmed that they have successfully raised gross proceeds of A$17m in their placing which was oversubscribed...

Oversubscribed Placing to raise A$17 million -

88 Energy Limited ("88 Energy" or the "Company") (ASX, AIM: 88E) is pleased to announce that further to the notification on 30 April 2018, the Company has conditionally placed 460,811,112 ordinary shares of no par value (the "Placing Shares") at A$0.037 (equivalent to £0.02) per Placing Share (the "Placement Price") to raise gross proceeds of A$17 million (the "Placing"). The Placing was significantly oversubscribed.

The Placing was conducted in the UK through a bookbuilding process, managed by Cenkos Securities plc ("Cenkos") in the UK and Hartleys Limited ("Hartleys") in Australia...

[quepassa] 01/5/2018 09:56

Astonishing volumes of recent big-ticket M&A activity both UK and international. Records being smashed.

This M&A frenzy bodes very well in my view for rippling strongly out to the small cap sector.

ALL IMO. DYOR.
QP

[speedsgh] 30/4/2018 12:13

Further to interceptor2's post #2721, Audioboom (BOOM) announced on Friday that their proposed acquisition and associated £155m fundraising have still not completed. BOOM's shares remain suspended from trading on AIM & they have stated that there is no certainty that the Proposed Acquisition and the Acquisition Placing will complete. They expect to be in a position to make a further announcement within the next three weeks.

In addition BOOM have had to issue up to £1m of Convertible Loan Notes to help fund short term working capital requirements.

It would be a blow for Cenkos, who are acting as joint broker to the Placing alongside Allenby Capital & Zeus Capital, if the acquisiton/fundraising do not proceed as this appeared to represent their 2nd largest fundraising in the year to date after the recently announced £170m Placing/Open offer for Breedon Group (BREE).

Proposed Acquisition update & new convertible loan -

[speedsgh] 30/4/2018 12:02

Proposed Placing to raise up to A$17 million -

88 Energy Limited ("88 Energy" or the "Company") (ASX, AIM: 88E) today announces that it proposes to raise approximately A$12 million with the ability to take oversubscriptions of up to A$5 million (before expenses) pursuant to a conditional placing of new ordinary shares...

... The Placing is being conducted in the UK through a bookbuilding process (the "Bookbuild"), which is being managed by Cenkos Securities plc ("Cenkos") in the UK and Hartleys Limited ("Hartleys") in Australia...

... Cenkos is acting as agent for and on behalf of the Company in connection with the Placing and has entered into a placing agreement (the "Placing Agreement") with the Company under which Cenkos has severally agreed to use its reasonable endeavours to procure Placees to subscribe for the Placing Shares at a price at or around £0.02 per Placing Share, on the terms and subject to the conditions set out herein...

[speedsgh] 27/4/2018 09:23

The following £10.4m placing by Fulcrum Utility Services (FCRM) back in February appears to have escaped our attentions. Cenkos are Nomad & acted a sole broker on the placing.

Acquisition of The Dunamis Group Limited (2/2/18) -

[speedsgh] 27/4/2018 09:13

Avanti Communications (AVN) have managed to raise just £0.17m via their Open Offer. They were hoping to raise up to £4.33m. Cenkos are Nomad/broker...

Results of Open Offer -

[speedsgh] 25/4/2018 14:27

Further to post #2773, Avanti Communications (AVN) have confirmed that all resolutions were passed at their AGM enabling them to move forward with the proposed restructuring & fundraising including a debt-for-equity swap & Open Offer. Cenkos are acting as nominated adviser/broker to AVN.

Results of General Meeting/Update on Restructuring -

[speedsgh] 25/4/2018 13:17

Re recent selling by Will Rogers (PDMR, Head of Investment Companies, Corporate Finance) at Cenkos. Looked at his trading history recently and wasn't able to really come to any conclusion...

23/4/18 Will Rogers sold 23,828 @ 108.5p = £25,853
11/4/18 Will Rogers sold 35,000 @ 104p = £36,400
27/9/17 Will Rogers sold 24,034 @ 120p = £28,840
10/7/17 Will Rogers bought 50,000 @ 98.75p = £49,375
16/5/17 Will Rogers (SIPP) sold 30,000 @ 100p = £30,000
10/4/17 Will Rogers awarded 83,262 @ 97p = £80,764