Cenkos Securities Share Discussion Threads

[quepassa] 04/12/2020 05:05

Started the year at 42p and currently trading at 56p - so year to date is + 30%.

Did hit 65p pre-pandemic in March and then fell with the market collapse to 25p but nonetheless a very respectable performance given the bleak year with still a month to go.

And one thing is for sure- there is still a great need for companies to raise capital either for repair purposes or new projects. And many global markets are reaching new all-time highs.

A good back-drop for Cenkos who appear in the last few months to be gaining a lot of momentum with an increasingly buoyant deal flow.

ALL IMO. DYOR.
QP

[topvest] 03/12/2020 20:38

Salt lake potash fundraise close to finalisation


Running out of time for new deals ahead of Xmas.

Next week and that's about it to close any transactions. Still, a good H2 and prospects look reasonable going into 2021 particularly with the Round hill placing likely. Its at 105c at the moment so perfectly poised for a hefty secondary placing.

[speedsgh] 30/11/2020 11:51

Cenkos are acting as Joint Lead Manager for the UK portion of a AUD10m placing for ASX-listed Davenport Resources Ltd (ASX:DAV)...

[topvest] 27/11/2020 20:39

Working on another fundraise here:

[topvest] 24/11/2020 20:28

Another potential fundraise, only smallish:

[martomarto] 23/11/2020 13:57

Nothing here until Hodge's shares and more of his, are absorbed in the market. Loads of them waiting for buyers. Excellent pipeline income in progress!

[topvest] 20/11/2020 20:14

That's not bad. £0.5-£1m I suspect.

[speedsgh] 20/11/2020 16:55

Cenkos are acting as sole broker on the Venture Life (VLG) placing (£34m) & open offer (up to £2m) mentioned above by FredFishcake, even though N+1 Singer were appointed as joint broker in July this year...



The Circular does not specify the amount of commission/fees being paid to Cenkos...



"The Placing Agreement also provides for the Company to pay all costs, charges and expenses of, or incidental to, the Fundraising and the Admission including all agreed amounts for legal and other professional fees and expenses."

[fredfishcake] 20/11/2020 13:17

Doing a job for VGL - not sure how much they'll make from this?

"Venture Life (AIM: VLG), a leading developer, manufacturer and distributer of consumer self-care products, is pleased to announce that it has conditionally raised gross proceeds of £34 million by way of a Placing by Cenkos Securities plc to certain institutional and other investors. Furthermore, to enable other Shareholders who are not able to participate in the Placing an opportunity to subscribe for new Ordinary Shares, the Company is proposing to raise gross proceeds of up to an additional £2.0 million by way of an Open Offer made to Qualifying Shareholders."

[topvest] 18/11/2020 20:32

Infrastructure India has been a disaster stock so no chance of being a big revenue earner.

[topvest] 18/11/2020 20:30

Yes, M&G took c15%. There will be continued demand. Bodes very well for later on this year and early next. This could well raise US$1bn fairly quickly.

[smicker] 18/11/2020 15:55

Bank of Montreal upto 6.4% in round hill. Bodes well for placing?

[speedsgh] 18/11/2020 11:28

Loss of mandate. Cenkos, previously Nomad & joint broker, have been replaced by Strand Hanson as Nomad to Infrastructure India (IIP); joint broker N+1 Singer becomes sole broker.

[topvest] 17/11/2020 20:55

They all help. Quite a small one this one, but extra fees all the same!

[speedsgh] 17/11/2020 07:31

Cenkos are acting as bookrunner/placing agent on the UK portion of a placing to raise up to AUD10m (GBP 5.5m) for 88 Energy Ltd (88E)...

Proposed placing to raise up to A$10 million -

[martomarto] 13/11/2020 20:44

Thanx for the update. Appreciated.

[topvest] 13/11/2020 19:16

RHM listed today. Closed day 1 at 102c so all successful and well set for the supplemental placings over the coming weeks and months.

They didn't waste any time adding this one to the transactions summary page:
hxxps://www.cenkos.com/transactions

Notches the total to c.£430m in H2 so far. Better than the £340m in H1. £664m in 2019.

So, 2020 will be a better year, particularly given the lower cost base.

Another chunky deal or sizeable RHM placing before the year end and we may even get a positive ahead of expectation type RNS. Maybe that's asking a bit much, but all good anyway for a 3 to 5p 2020 total dividend in my view and may be more.

[topvest] 12/11/2020 21:05

Yes, another good transaction today. £60m and joint broker as you say. Its quite a critical time over the next 2 or 3 weeks ahead of the year-end. Hopefully announcements will come thick and fast to get things over the line before Xmas. Golden cross achieved just with 50 MDA crossing the 200MDA and relative strength of 67. Could track up a bit now.

[speedsgh] 12/11/2020 17:52

Cenkos have been appointed as placing agent & joint broker, alongside Arlington Group Asset Management (financial advisor & joint broker) on a £60m fundraising for Auctus Growth plc (AUCT)...



Prospectus -

The fundraising comprises:
a placing of 11,789,142 Placing Shares to raise gross proceeds of £13.2m;
a placing of 35,714,287 Consideration Shares to raise gross proceeds of £40m; and
the issue of 6,068,000 Subscription Shares to raise gross proceeds of £6.8m

According to the terms of the Placing Agreement, the joint brokers will receive an aggregate cash commission of 4.5% of the aggregate value of the funds raised from the placing of the Placing & Consideration Shares and issue of the Subscription Shares.

Total gross proceeds to be raised = £60m x 4.5% = £2.7m to be shared between the brokers. Weightings for the distributions of the aggregate commission of £2.7m is unknown but if the same 1/6 weighting is used as per the corporate finance fee (see below), then Cenkos would receive commission of £450k.

Cenkos will also receive a corporate finance fee of £25k (AGAM receive a fee of £125k) which, under the Placing Agreement, is to be used to subscribe for Adviser Shares in Auctus.

[mattboxy] 12/11/2020 08:18

Interesting, when is the close and details on how much has been taken up

[mattboxy] 12/11/2020 08:17

Thanks for that.

[topvest] 11/11/2020 20:15

This deal should underwrite H2 2020 and, hopefully, H1 2021. For me, it demonstrates that Jim Durkin hasn't lost his ability to muscle in on bigger deals!

[topvest] 11/11/2020 20:13

There is also another US$15m of total fees in sight on the US$750M placing programme. Cenkos are lined-up to deliver this, so I would expect more fees to come hopefully. Round Hill certainly appears to have an initial target of over US$ 1BN to invest.

Placing Programme expenses
The costs and expenses of the Company relating to the Placing Programme are those that arise from, or are incidental to, the issue of Shares pursuant to Subsequent Placings. These include the fees payable in relation to each subsequent Admission, including listing and Admission fees, as well as fees and commissions due under the Placing and Offer Agreement and any other applicable expenses in relation to the Placing Programme. It is currently anticipated that the costs and expenses of any Subsequent Placing will not exceed 2 per cent. of the gross proceeds of the relevant Subsequent Placing and will be borne by the holders of the Ordinary Shares or C Shares (as the case may be) as outlined below.
The costs and expenses of issuing Ordinary Shares pursuant to any Subsequent Placing will be covered by issuing such Ordinary Shares at the prevailing published Economic Net Asset Value per Ordinary Share at the time of issue together with a premium to at least cover the costs and expenses of the relevant Subsequent Placing (including, without limitation, any placing commissions). The costs of any issue of C Shares will be allocated solely to the C Share pool of assets.

[speedsgh] 11/11/2020 14:41

Re Round Hill initial issue...

"The costs and expenses of, and incidental to, the formation of the Company and the Initial Issue are not expected to exceed approximately US$7.5 million, equivalent to 2 per cent. of the Gross Proceeds, assuming Gross Proceeds of US$375 million. The costs and expenses will be deducted from the Gross Proceeds."

USD282m raised = costs/expenses USD5.64m. So Cenkos fee earned likely to be £4-4.25m, possibly a bit higher if there was a fixed fee element in the Placing & Offer Agreement in which case the costs might have been slightly higher than 2% of eventual Gross Proceeds of USD282m.

[martomarto] 11/11/2020 10:06

Usual third rate PR again. Don't know what they are paying for! Can't be hard to get some momentum out of this!DYOR