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
  +0.00p +0.00% 47.00p 45.00p 49.00p 47.00p 46.90p 47.00p 114,273 08:00:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 45.0 2.3 4.2 11.2 27

Cenkos Securities Share Discussion Threads

Showing 3276 to 3294 of 3450 messages
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DateSubjectAuthorDiscuss
05/3/2019
08:52
from update on current trading contained within the Placing announcement this morning by sector peer, WH Ireland (WHI)... HTTPS://www.investegate.co.uk/w-h--ireland-group--whi-/rns/proposed-placing/201903050700228546R/ Following the announcement on 6 February 2019 (the "Trading Update"), trading conditions have remained challenging for both divisions and the Directors do not believe that there will be any improvement before the end of the financial year or in the immediate future. The Board now believes that operating losses will be substantially higher in the second half of the year when compared to the first six months.
speedsgh
21/2/2019
17:56
QP - My post is admittedly not exhaustive. As suggested I was just really thinking out loud trying to get my head around the current situation. Although not mentioned in my post, I had considered the 'ahead of expectations' Trading Update on 19/12/18 and concluded that this was probably as a result of the completion of the ESUR takeover on 17/12 which would presumably have enabled Cenkos to book the fees earned in relation to this in FY18. A nice boost to the FY18 figures and possibly the level of dividend to be paid but will presumably not feature in the market's view looking forward. Equally I do not see the EBT share purchase plan as a major factor when assessing the longer term prospects/investment case or trying to working out the end game here, whether that be the Board's plan or Crystal Amber's. Just trying to work out the longer term opportunity here. In that sense I can see both bull & bear cases and as yet am undecided. But there certainly remains some intriguing unanswered questions over recent events/announcements.
speedsgh
21/2/2019
16:48
Just some thinking out loud... Intriguing situation with Cenkos. Activist investor, Crystal Amber (CRS), notified Cenkos that it held 7.14% of the company in Feb 2018. No further update in their holding has been made since so one assumes they hold around the same level today (the Monthly NAV release for Dec 2018 on the CRS website actually shows them as owning 6.9% of Cenkos share capital). In their final results released on 7/9/18, Crystal Amber made the following comment: "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." Following this: CNKS rns dd 9/10/18 - CEO Anthony Hotson to stand down from the Board on 31/10/18 but remain an employee until 31/12/18. CNKS rns dd 31/10/18 - Anthony Hotson to remain an executive director & CEO until his successor has received FCA regulatory approval. CNKS rns dd 5/11/18 - Former CEO, Jim Durkin, to be appointed executive director & CEO upon receipt of regulatory approval; Antony Hotson to remain CEO in the interim. CNKS rns dd 12/12/18 - CFO Philip Anderson (appointed by Anthony Hotson in Jan 2018) to step down from the Board & leave Cenkos on 31/3/19. Anthony Hotson is still interim CEO today & regulatory approval of Jim Durkin remains outstanding. By way of comparison Anthony Hotson was announced as CEO on 5/7/17 subject to regulatory approval which was subsequently received less than a month later on 2/8/17. Regulatory approval of Jim Durkin's reappointment as CEO would therefore seem to be taking some time i.e. more than 3 months so far. I believe another poster has previously suggested that they have been unable to find evidence of Jim Durkin's application having been lodged with the FCA. If this is correct, what (if anything), does this indicate? Cenkos have lost their position as broker to no less than 10 clients since Aug 2018. AA (AA.), Michelmersh Brick Holdings (MBH), IG Design Group (IGR), Restore (RST), Comptoir Group (COM), Mercia Technologies (MERC), Science in Sport (SIS), Verseon Corporation (VSN), CML Microsystems (CML), Frontier IP Group (FIPP). Some of these would appear to be from the 'better quality' end of the Cenkos client portfolio. Over the same period Cenkos have independently acquired 3 new clients - Falcon Oil & Gas Ltd (FOG), Venture Life Group (VLG), Landore Resources Ltd (LND) - as well as the 12 Smith & Williamson clients upon completion of the acquisition of its Nomad & Corporate Broker business in Dec 2018. Clients acquired would appear to be lower quality than those lost. Crystal Amber "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." The share price in Jan 2018 was north of 100p so one would assume that they are not overly happy with the current share price. Having said that their stats as an activist investor would suggest that they have a plan in place & will be actively engaging with the Cenkos board in order to create longer term value so they may be less concerned over the share price in the short term. Whether the objectives/strategy of the Cenkos board aligns with those of Crystal Amber remains to be seen. Notwithstanding their involvement as adviser to esure Group (ESUR) in their £1.2bn takeover by Bain Capital (first announced in Aug 2018 & completed in Dec 2018), Cenkos fundraising activity would appear to have been pretty thin on the ground since Sept 2018. How much of this is company specific remains to be seen, although it is without doubt that the handling of the Brexit process by UK parliament, the uncertainty that this has created and consequent postponement of investment decisions by UK PLC has been unhelpful to the UK fundraising market in general. It will be interesting to note any commentary on Cenkos by Crystal Amber in their Interim Results which are scheduled to be released on or after 7/3/19.
speedsgh
21/2/2019
07:46
Loss of mandate. Shore Capital have replaced Cenkos as joint broker to CML Microsystems (CML)... HTTPS://www.investegate.co.uk/cml-microsystems-plc--cml-/rns/appointment-of-joint-broker/201902210700206715Q/
speedsgh
18/2/2019
15:13
5m Takeover of StockDale by Shore Capital implies value of c90k per corporate client, in terms of deal multiple. What does that imply for Cenkos ? How many clients they have ? About 80 ? Been going down I think You would have to add in the cash as well I suppose - for the overall value
albert zog
11/2/2019
10:08
Another loss of mandate. Peel Hunt have replaced Cenkos as Nomad/sole broker to Restore (RST)... HTTPS://www.investegate.co.uk/restore-plc--rst-/rns/change-of-adviser/201902110700065631P/
speedsgh
09/2/2019
20:10
Superdry co-founder cuts ties with broker Cenkos - HTTPS://www.thetimes.co.uk/edition/business/superdry-co-founder-cuts-ties-with-broker-cenkos-gwmqv850z The co-founder of Superdry has parted company with Cenkos Securities, the stockbroker, as he tries to return to the fashion chain he started. Julian Dunkerton, who left last March after disagreeing with the company’s new strategy under Euan Sutherland, its chief executive, hired the broker to try to help him to persuade the retailer’s shareholders to reinstall him. Mr Dunkerton, 53, the largest shareholder, is unhappy about the collapse in the company’s share price over the past year and believes that he needs to return to restore its fortunes. The Times understands that he and Cenkos did not agree on the approach he should take when contacting shareholders, none of whom have backed him publicly. Mr Dunkerton has not appointed a new broker, but has held talks with Liberum Capital...
speedsgh
07/2/2019
08:19
Yes, it does seem the lights are at least still on at the Cenkos offices. They are acting as Nomad/sole broker on Kromek's £21m fundraising (£20m placing, up to £1m open offer). HTTPS://www.investegate.co.uk/kromek-group-plc--kmk-/rns/firm-placing-and-open-offer-and-notice-of-gm/201902070700043112P/ Cenkos Securities, which is authorised and regulated in the United Kingdom by the FCA, is acting as nominated adviser and broker to the Company and no-one else in connection with the Placing, the Open Offer and Admission...
speedsgh
06/2/2019
22:39
Let me try to break this negative news flow... Cenkos appear to be advising on this £3M takeover; www.personalgroup.com/resources/investor-news/press-release-06-february-2019
jemt0703
06/2/2019
10:43
Cenkos missed out on the recent £2.4m placing for Cloudcall Group (CALL); Arden Partners acted as sole broker/sole bookrunner on the fundraising. Cenkos remain Nomad/joint broker. HTTPS://www.investegate.co.uk/cloudcall-group-plc--call-/rns/result-of-placing/201901300841175187O/
speedsgh
06/2/2019
10:30
Another loss of mandate. Cannacord Genuity have been appointed Nomad & sole broker to Mercia Technologies (MERC). Cenkos were previously Nomad & joint broker alongside CG. HTTPS://www.investegate.co.uk/mercia-technologies--merc-/rns/appointment-of-nomad/201902050700100385P/ EDIT - That's yet another client that CG have pinched from Cenkos in recent months (see post #3025). Will they pounce for the whole lot at some point or are they just cherry picking what they see as the most profitable fruit?
speedsgh
31/1/2019
09:12
I also missed the Esure bid news. That transaction was double the total from all the others last year. BUT so far nothing this year and that may well be Brexit linked. A bit on that in this article about Jim Durkin:- https://www.ft.com/content/98801e5c-e0ce-11e8-a6e5-792428919cee
kenmitch
30/1/2019
21:22
2018 was a very poor year for Cenkos and that was priced in. Looking at the transactions, the one that everyone seems to have missed was the Esure bid. Even I did and I received cash for my Esure shares! It seems to me that this transaction was the difference between success and failure in 2018. Lets hope that they get a few big deals in 2019. Cenkos should be worth more than a £1 in the long-run given its record.
topvest
30/1/2019
10:38
An interesting article just published as far as I can tell; Cenkos seems to be doing well... www.insidermedia.com/insider/deals/waless-most-active-ma-advisors-named
jemt0703
30/1/2019
10:18
Hi QP, Difficult to say, my guess would be; 1.5% total fee for the whole £1.2bn transaction = £18M. 50% going to Goldman as the lead advisor and the remaining 50% split equally between Dean Street & Cenkos the other advisors. Thus c.£4.5M fee for Cenkos. Reducing the fee to 1% with the same logic means c.£3.0M fee for Cenkos. We should see a decent H2 2018 profit from Cenkos and a healthy dividend too, probably maintaining the Final Dividend @ 4.5p per share. JT
jemt0703
29/1/2019
10:14
Another £20k spent.
lord gnome
29/1/2019
09:26
More consolidation in the sector announced yday. Shore Capital are in discussions re possible acquisition of Stockdale Securities. Response to media speculation (28/1) - HTTPS://www.investegate.co.uk/shore-capital-group--sgr-/rns/response-to-media-speculation/201901280700062032O/
speedsgh
29/1/2019
08:45
Interesting that the share buy back is scheduled to take place over six months, whereas over 10% of the money has been spent in the first few days. We are due results at the end of March - just two months away. If the results are slated to be better than the market was expecting, that event will move the share price. In which case, I venture that Cenkos will want the purchase completed prior to announcing results. Shortening the time frame from six months to two would change the picture completely.
lord gnome
29/1/2019
08:40
Quite so QP. I share your thoughts. I was just trying to temper my enthusiasm with a bit of reality as to how far the share buyback might move the market.
lord gnome
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