Cenkos Securities Share Discussion Threads

[quepassa] 01/8/2018 10:41

fenners.

you always seem to want to take issue with me and pick a fight. I don't know why.

This is a copy of your today's post above : "You did not even read the first few paragraphs QP and to contradict you entirely - I have just been very interested in reading the whole of that post MT.

Its not often you see a post of that length and read all the way through - I have to say it was well written and has prompted me to go and find more info...."



Let me respond. And let me correct you.

We have all seen MT's post and information before. INCLUDING YOU. It is an exact cut'n'paste job and regurgitation of his post number 2363 of July last year, 2017. Please check for yourself.

I have indeed read them. LAST YEAR.


It is old, old,old news. He made his point then.

Also look at MT's other similar posts numbers 2360 and 2361 and 2362 etc etc.

I remain sorry for him that he bears such a grudge. But old news it is.


What , however is more surprising is that your powers of memory are clearly failing you as you posted in response to MT last July in your post number 2376. This would demonstrate that you had indeed seen them before and that they are not new to you either.




Great news today about the new team joining Cenkos.


ALL IMO. DYOR.
QP

[quepassa] 01/8/2018 10:16

Sorry for your big grudges.

Great news today about the six strong team from S&W joining Cenkos.

ALL IMO. DYOR.
QP

[lord gnome] 01/8/2018 10:14

Thanks MT. I was vaguely aware of the MPL scam, but this has set it out for all to see. Cenkos has quite a few skeletons in the cupboard, but this is the worst I have seen by a long way. New broom needed indeed.

[fenners66] 01/8/2018 10:07

You did not even read the first few paragraphs QP and to contradict you entirely - I have just been very interested in reading the whole of that post MT.

Its not often you see a post of that length and read all the way through - I have to say it was well written and has prompted me to go and find more info....

You can never stop learning about the scams on the market - helps to ensure you avoid the next one.

[mount teide] 01/8/2018 09:58

I'm afraid you're very much incorrect - the MPL scam aided and abetted by the same Nomad continues to this day - for the simple reason the MPL management still has £20m out of the £110m the Nomad helped raise to date left to 'spend'.

Shameless CENKOS decided if they were going to quietly continue plundering MPL shareholders funds by continuing to act as Nomad, it would be a good idea to remove any trace of their previous involvement with MPL from their website by taking down all references of their involvement arranging the £73m MPL IPO and £37m placing.

[quepassa] 01/8/2018 09:41

Old, old , old news.

No-one is interested in historic grudges dating back to 2014/2016.

Sorry if you suffered but that's ancient history and not relevant to today

time to move on.

ALL IMO. DYOR.
QP

[lord gnome] 01/8/2018 09:05

He will certainly have a lot to sweep. I've been in and out of Cenkos quite a few times in recent years and almost always made a decent profit - but I do have to hold my nose now and then.

MT - we know each other from other threads. Do I take it you caught a giant cold on MPL? Easy done, I'm afraid. Lots got caught out on Chinese frauds as well, plus the occasional Israeli and CRS ones. I have a simple investing rule - avoid dodgy jurisdictions like the plague.

[quepassa] 01/8/2018 09:03

Anthony Hotson is an excellent new CEO and also a new broom who sweeps very clean.


QP

[mount teide] 01/8/2018 08:47

'How well regarded is cenkos'?

If their performance working hand in glove with the venal management of MPL for their mutual benefit is a reliable guide - investors should avoid like the plague any company they are getting extremely well paid with shareholders funds to "advise"!

[topvest] 01/8/2018 08:22

It will add some people and clients for a nominal consideration, so looks OK to me.

[quepassa] 01/8/2018 07:24

Good RNS.

Cenkos acquires NOMAD and Corporate Broking business from Smith & Williamson

Strengthening the team at Cenkos as well as reducing the competition is a positive event.


Six new professionals will further beef up Cenkos' corp. fin. department which has suffered a few losses in recent times.


We will never know if Crystal Amber may or may not have been a motivating/contributory factor for Cenkos to make this acquisition. But I know what I think.




ALL IMO. DYOR.
QP

[mattboxy] 01/8/2018 07:21

Cenkos Securities plc (AIM:CNKS) is pleased to announce that it has entered into an agreement for the acquisition of the Nominated Adviser and Corporate Broker business of Smith & Williamson (the "Business"). Under the terms of the agreement, Cenkos has agreed to pay Smith & Williamson deferred consideration equal to 20% of all corporate finance fees earned by the Business from existing clients transferring to Cenkos during the 12 months following completion. The agreement contains a cap on deferred consideration of £2m though in reality the level of deferred consideration is expected to be significantly below that.The transaction is expected to complete by November 2018, following the undertaking of due diligence on existing clients of the Business which may transfer as part of the transaction. As a result of the acquisition, a team of 6 will join Cenkos' Corporate Finance department with effect from completion of the transaction.

[mattboxy] 29/7/2018 16:02

Thanks for that. All very interesting and hopefully they can unlock some more value here.

[quepassa] 29/7/2018 11:39

All good questions.

Cenkos is very well-regarded in my opinion.

Maybe Cenkos have hit a minor/temporary dip in trading which doesn't give me personally particular cause for concern. This industry is known to be volatile and to be characterised by lumpy earnings.

Nonetheless, Cenkos do need to do some serious managerial and strategic soul-searching as to why they are repeatedly lagging the performance of Numis.

However, in my personal experience and opinion, when activist shareholders with significant shareholdings start agitating, this frequently can have a highly beneficial impact on the share price.

Here is a link to the website of Crystal Amber where you can read about them and their modus operandi. If you hit the tab headed The Fund and then go to Activist Process, you will see how they engage with management with a view to unlocking and creating further shareholder value.

hXXps://crystalamber.com/about/activistprocess


I see Crystal Amber's actions as very positive for shareholders. I have high regard for activist houses which use their shareholding voting power to start to pose tough questions to management where they perceive the underlying business is not firing on all cylinders and has significant room for improvement.


ALL IMO. DYOR.
QP

[mattboxy] 29/7/2018 10:27

Quepassa Do you feel this could be positive for the share price or do you have negative concerns. How well regarded is cenkos in the city and could they be taken out?

[quepassa] 28/7/2018 13:17

The possible impact and potential consequences of the Crystal Amber letter to the Cenkos Board are perhaps not to be underestimated.



ALL IMO. DYOR.
QP

[topvest] 27/7/2018 18:52

Yes, very interesting.

[speedsgh] 26/7/2018 23:53

Sky are reporting that Crystal Amber are demanding that Cenkos is put up for sale...Activist targets Cenkos chair with demand for ?strategic review - https://news.sky.com/story/amp/city-firm-cenkos-targeted-by-activist-investor-11450085A major investor in Cenkos Securities, the City broker, has demanded that its chairman puts the business up for sale amid a thinly veiled threat that it may seek to oust him.Sky News has learnt that Crystal Amber, which is AIM-listed Cenkos's fifth-biggest shareholder?, wrote to Gerry Aherne earlier this month to urge him to launch a strategic review "to determine how value can best be realised".The move by Crystal Amber, whose figurehead Richard Bernstein is a well-known activist investor, ?will ignite a battle over the future of Cenkos...

[speedsgh] 26/7/2018 08:16

Brief FT write-up on recent TU...

City broker Cenkos drops 12% after warning of revenues drop -

Shares in Cenkos Securities, the City stockbroker, dropped 12 per cent on Tuesday after it warned its full-year revenues were expected to be “materially below” its 2017 revenues, which were boosted by several bumper deals, as new European markets regulations begin to heap pressure on the broking sector.

In a trading update on Tuesday, Cenkos said that while performance in its second quarter had improved after a “disappointing” first quarter, “several transactions which were expected to complete in June did not complete until July”. In the first quarter, market volatility had hit investor sentiment, it said.

As a result, the small and mid-cap broker said it expected its second-half results to be stronger than its first-half results to the end of June. The first-half results, together with the declaration of an interim dividend, will be published in September, it said.

The warning comes after the company posted triple-digit profit growth in its 2017 results, on revenues up 36 per cent to £59.5m. This was largely driven by its role in a number of big fundraisings, including as sole banker in the £550m float of logistics group Eddie Stobart in April 2017.

The company has also previously flagged that uncertainty around Mifid II — sprawling European markets rules that came into force this January — had already put pressure on its revenues from research. Data show the rules have also hit trading commissions at brokers this year, leaving them increasingly reliant on deal fees.

[tanneg] 26/7/2018 07:36

Possible fund raise in September



The Board of GCP Asset Backed, which invests in asset backed loans, today announces that it is considering increasing the Company's capital base through a pre-emptive offer of C shares at a price of 100 pence per C share, by way of an open offer, placing and offer for subscription, targeting gross proceeds in excess of £70 million (the "Issue").

[topvest] 25/7/2018 19:37

Its Woodford related in my view. He backed their bigger deals. BCA Marketplace, AA etc.