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CNKS Cenkos Securities Plc

29.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cenkos Securities Plc LSE:CNKS London Ordinary Share GB00B1FLHR07 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 29.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cenkos Securities Share Discussion Threads

Showing 3176 to 3197 of 4350 messages
Chat Pages: Latest  138  137  136  135  134  133  132  131  130  129  128  127  Older
DateSubjectAuthorDiscuss
01/10/2018
14:11
That's two in a row where Cenkos has failed to hit the target. Is this why they are losing mandates, or does it reflect the state of the market and the risk appetite ahead of Brexit?
lord gnome
01/10/2018
12:21
Further to post #2926, GCP Asset Backed Income Fund (GABI) confirmed on Friday that they have successfully raised £51.5m via its C Share Issue. GABI were targeting £70m. Cenkos acted as sponsor/sole placing agent.

Result of Open Offer, Placing and Offer for Subscription -

speedsgh
01/10/2018
12:14
Good spot, topvest. Better than a kick in the you-know-whats but note that Shearwater were originally looking to raise £25-30m via the placing + £1m open offer as opposed to the revised £16.7m + £1m open offer that they have achieved...
speedsgh
01/10/2018
08:21
A small IPO / reverse takeover
topvest
27/9/2018
13:25
Another loss of mandate. Allenby Capital have been appointed Nomad & sole broker to Frontier IP Group (FIPP); Cenkos were previously Nomad & joint broker alongside Peterhouse Corporate Finance...

Change of Adviser -

speedsgh
27/9/2018
13:21
Most disappointing. I think our only hope now is for Crystal Amber to get the deal that they want. I had thought of adding more at these low levels, but there is always the chance that I might just be throwing good money after bad. I'll sit tight for now.
lord gnome
27/9/2018
13:20
Provexis (PXS) have raised - wait for it - £395,000 via a Placing. The announcement does not explicitly state that Cenkos were involved in the Placing but their name is listed at the bottom of this rns & PXS final results which have also been released today...

Results of Placing -

speedsgh
27/9/2018
13:12
It would appear that Cenkos have at some during the last few months lost their mandate as adviser to Tufton Oceanic Assets Ltd (SHIP). Cenkos helped SHIP to raise USD91m in Dec 2017.

Cenkos have been replaced by N+1 Singer who are now helping SHIP to raise USD100m via a Placing & Offer for Subscription of C Shares and a follow-on Placing Programme to raise up to USD200m. Shame.

Proposed Placing and Offer of C Shares -

EDIT - "The Company is also pleased to announce that N+1 Singer was appointed joint corporate broker effective 1 July 2018."

speedsgh
21/9/2018
09:33
True but they will have to go it some just to match H2 17 which included:

Hurricane Energy $300m equity placing (Jul 17)
Hurricane Energy $230m convertible bond placing (Jul 17)
Arena Events Group £60m IPO (Jul 17)
GCP Asset Backed Income £75m C share issue (Oct 17)
Civitas Social Housing £350m C share issue (Nov 17)
Regional REIT £73m placing (Dec 17)
Smart Metering Systems £150m placing (Dec 17)
Tufton Oceanic Assets $91m IPO (Dec 17)

... let alone match FY17.

I think the most concerning aspect is that Cenkos appear to have struggled whilst many of their peers have been making hay whilst the sun is shining. There's been plenty of fundraising activity in H1 18, it's just that Cenkos haven't really been involved in it.

Also, can they still pull off exceptional deals (AA IPO, BCA Marketplace IPO) with the new leadership team or have they lost some of their entrepreneurial edge? Most likely not and H1 18 will probably turn out to be all part of the natural ebb & flow within their sector. But the current share price is perhaps reflecting the above and any other uncertainties it may have.

FWIW I see Crystal Amber's position on the shareholder register as somewhat reassuring. They should help to keep the Cenkos management focused on value creation. Aimho

speedsgh
18/9/2018
19:40
Lets hope H2 is better. Historically they have always bounced back well, but we do need a bigger deal. I do worry about the Cenkos / Woodford link. The latter has no cash to invest. Anyway, only one big deal away from a half decent result! I'm not sure a sale is the way forward at the moment. The way forward is to improve the deal flow.
topvest
18/9/2018
12:44
Excellent write up on CNKS interims by Graham Neary in today's SCVR...
speedsgh
18/9/2018
10:26
I had high hopes for this share ... but was not to be ....

... weak £ making UK unattractive for foreign investors doesn't look good.

keith95
18/9/2018
10:01
working behind the scenes.
quepassa
18/9/2018
09:41
Hopefully Crystal Amber can get this put up for sale.
arthur_lame_stocks
18/9/2018
08:33
Brief take outs from the above comparables & other figures in the results...

- Second lowest revenue since 2011
- Lowest PBT & EPS on continuing operations since 2011
- Client base shrinking with less Main Market clients, greater reliance on AIM clients
- Interim dividend is uncovered by EPS for first time since 2011; funded by continued healthy cash levels

speedsgh
18/9/2018
08:27
A comparison of today's interims against previous years (my records only go back as far as 2011).



REVENUE
2011: £25.1m
2012: £20.2m
2013: £20.0m
2014: £65.2m (AA IPO)
2015: £53.1m (BCA Marketplace IPO)
2016: £15.3m
2017: £29.2m
2018: £18.1m

PROFIT BEFORE TAX on continuing operations
2011: £5.0m
2012: £3.5m
2013: £3.1m
2014: £23.5m (AA IPO)
2015: £18.6m (BCA Marketplace IPO)
2016: £1.7m
2017: £4.2m
2018: £0.5m

BASIC EPS on continuing operations
2011: 5.0p
2012: 3.6p
2013: 3.9p
2014: 31.2p (AA IPO)
2015: 26.1p (BCA Marketplace IPO)
2016: 1.2p
2017: 6.7p
2018: 0.6p

INTERIM DIVIDEND PER SHARE
2011: 4.0p
2012: 3.5p
2013: 3.5p
2014: 7.0p (AA IPO)
2015: 7.0p (BCA Marketplace IPO)
2016: 1.0p
2017: 4.5p
2018: 2.0p

SIZE OF CORPORATE CLIENT BASE (as at 30 Jun)
2011: 106
2012: 118
2013: 122
2014: 127
2015: 125
2016: 119
2017: 120
2018: 116

speedsgh
18/9/2018
07:09
Assuming final dividend is also cut to 2p (and maybe it won't be), still yields a healthy prospective 4.2%.

These interim figures and performance had been presaged in the 24th. July Trading Update.

The interims reconfirm a better and positive Outlook for second half:

"Outlook

We have made a good start to the second half of the year with several transactions announced in July and August and more to come later in the year and beyond."


ALL IMO. DYOR.
QP

quepassa
18/9/2018
07:09
Presumably Crystal amber will have something to say. Second half appears to be going better but still needs some bigger deals.
mattboxy
10/9/2018
20:50
Not a bad size fundraising. All helps. I notice that there are quite a few new issues being announced at the moment. Now is the time for a big-one....fingers crossed!
topvest
10/9/2018
07:35
Cenkos are acting as sponsor/sole placing agent on a £70m C Share Issue for GCP Asset Backed Income Fund (GABI). Second largest fundraising undertaken by Cenkos to date this year (after acting as joint broker with Numis on £174m placing/open offer for BREE in Q2 18)...

C Share Issue and publication of prospectus -

speedsgh
07/9/2018
06:19
Crystal Amber, a Significant and important activist shareholder in Cenkos, release their full year results today.

This is what Crystal Amber today write about their investment in Cenkos:-

"Cenkos

Cenkos is a corporate broker, a financial sponsor and a nominated adviser that
focuses on raising equity capital for UK companies and investment funds. Since
its founding in 2004 the company has raised over GBP15bn for clients, and it has
a proven ability to handle large transactions, with its most significant deal
to date amounting to GBP1.4bn.

Cenkos has an entrepreneurial culture and an ability to "punch above its
weight" in securing deals such as the IPOs of AA plc, BCA Marketplace and Eddie
Stobart Logistics. It also has a long track record of returning excess cash to
shareholders via dividends and share buybacks. However, it has struggled to
grow corporate client numbers and therefore recurring revenues and earnings,
given competition from larger players such as Numis.

CEO Anthony Hotson was appointed in August 2017, having served as a
non-executive director since May 2012. Philip Anderson was appointed as
Finance Director and Head of Compliance in September 2017. Together they have a
mandate to grow the base of recurring revenues by pursuing key hires and
building a more consistent corporate culture.

The Fund has been a shareholder in Cenkos since late 2010 and increased its
holding significantly during January 2018 at a share price which we believe
ascribes little probability to the company being able to secure any further
exceptionally large deals. Given the pressing need to deal with forthcoming
retirement/succession issues relating to a number of Cenkos's founders and the
evident strategic interest in this sector (2017 takeover of Panmure Gordon and
2016 Kuwaiti investment in WH Ireland), we have now proposed to the board that
it undertakes a strategic review of the company. "





Crystal Amber make a very valid point, inter alia, about Cenkos' "pressing need to deal with forthcoming retirement/succession issues relating to a number of Cenkos’s founders and the evident strategic interest in this sector ".



More action to come and much to play for in my view.

ALL IMO. DYOR.
QP

quepassa
07/9/2018
06:09
From Crystal Amber's results:

Cenkos

Cenkos is a corporate broker, a financial sponsor and a nominated adviser that focuses on raising equity capital for UK companies and investment funds. Since its founding in 2004 the company has raised over £15bn for clients, and it has a proven ability to handle large transactions, with its most significant deal to date amounting to £1.4bn.

Cenkos has an entrepreneurial culture and an ability to “punch above its weight” in securing deals such as the IPOs of AA plc, BCA Marketplace and Eddie Stobart Logistics. It also has a long track record of returning excess cash to shareholders via dividends and share buybacks. However, it has struggled to grow corporate client numbers and therefore recurring revenues and earnings, given competition from larger players such as Numis.

CEO Anthony Hotson was appointed in August 2017, having served as a non-executive director since May 2012. Philip Anderson was appointed as Finance Director and Head of Compliance in September 2017. Together they have a mandate to grow the base of recurring revenues by pursuing key hires and building a more consistent corporate culture.

The Fund has been a shareholder in Cenkos since late 2010 and increased its holding significantly during January 2018 at a share price which we believe ascribes little probability to the company being able to secure any further exceptionally large deals. Given the pressing need to deal with forthcoming retirement/succession issues relating to a number of Cenkos’s founders and the evident strategic interest in this sector (2017 takeover of Panmure Gordon and 2016 Kuwaiti investment in WH Ireland), we have now proposed to the board that it undertakes a strategic review of the company.

arthur_lame_stocks
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