Cenkos Securities Share Discussion Threads

[speedsgh] 07/1/2018 10:28

Please ignore previous post. Just noticed that it is from 2013! Apologies.

[speedsgh] 07/1/2018 10:26

Cenkos involvement worth attention - HTTPS://www.celticquicknews.co.uk/cenkos-involvement-worth-attention/ There is a realisation that the information issued by Craig Whyte last week is only the beginning of what promises to be weeks of salacious details.  Ownership of Ibrox, Murray Park and other assets purchased by Sevco 5088, a company which Charles Green signed a Companies House form for on 27 December 2012, but which Craig Whyte claims to be a significant interest holder in, is in doubt.This matter could take weeks to play out and months, or longer, to settle.  The evidence provided thus far is interesting but courts are notoriously more concerned by paperwork than recorded conversations.  If Craig Whyte has paperwork to back his claims he will feel by far the more comfortable of the two parties.Of more immediate concern will be what Cenkos Securities knew.  Cenkos were the Nominated Advisors for Rangers International's recent Initial Public Offering and Newco's directors would have been required to inform them of any claim over assets, no matter how spurious or disputed.City Regulators move quicker than the courts and will want early information on when Whyte's claims were made, what was revealed to Cenkos and how the board minute-d these matters.  Keep your eye on this one...

[keith95] 05/1/2018 12:20

Hi Speedsgh agreed ..... Looks to me as though Cenkos has now raised £2 Billion in 2017 which is excellent.


6.5p dividend is certainly a possibility - grabbed some more this morning ....

Have been buying below 107 and selling into spikes around 111 the past few months ..... but the share has been dead since about the 10th December ....


Numis has annoyingly broken well into to the 330's ........ so Cenkos has a lot of catching up to do ...

... but when the share moves we know it goes for 20% + rallies


GLA.

[speedsgh] 04/1/2018 17:17

keith - 4.50p interim already paid. Market consensus is for 11.0p total, so 6.50p final div. They appear to have outperformed in H2 vs H1 so I would certainly expect a final payment greater than the interim. In fact I would not rule out some modest upside to the market consensus 11.0p for the full yr. After all director/staff interests are largely aligned with shareholders' so there is an incentive there to make the payout as large as possible each year. We'll know soon enough. Final Results should be towards the end of March. Aimho.

[keith95] 04/1/2018 15:20

Am out of NAH with one account taking the spike at 178 .... back in here for some more.

Recollect the wording from last results ... good pipeline versus satisfactory in previous years.

4p dividend on the cards.

GLA.

[its the oxman] 04/1/2018 13:18

Bit of good news and decent div prospects and outlook could easily see a move towards 150p, that's my hope at least.

[its the oxman] 04/1/2018 13:17

Added today. Feels left behind by general market and taken profits some profits from NUM.

[quepassa] 03/1/2018 16:20

Cenkos website now updated (very promptly!) with December 2017 transactions:

Regional REIT - £73m
Tufton Oceanic Assets - $91m
Duke Royalty - £20m
Smart Metering Systems - £150m.



Three good size and chunky transactions should bring in significant fees.

ALL IMO. DYOR.
QP

[mount teide] 02/1/2018 23:53

The Website during early H2/2017 was quietly updated with the removal of the following large Placing transaction from November 2015:

Mercantile Ports & Logistics Plc - £37m Placing

Presumably due to the acute embarrassment caused to Cenkos's reputation by the contents of the Placing Document as a result of their failure to carry out any due diligence worthy of the name with regard to its content.

A document described at the time by a number of Shipping and Ports Industry professionals familiar with Mercantile Ports, as guaranteed to prove one of AIM's greatest works of fiction.

Six months later,

After Cenkos had been made aware that Mercantile's intellectually challenged management had provided irrefutable proof on their OWN website that they had committed (as we predicted ) multiple counts of Fraud by False Representation with regard to the contents of the Placing document.

After Cenkos had been put on notice with 7 letters(all unanswered) demonstrating with bang to rights evidence that Mercantile management had previous form with regard to committing Fraud by False Representation in RNS Statements going all the way back to 2014, which were reported to Cenkos at the time and saw no subsequent action taken.

After advising Cenkos the white collar criminal (industrial scale insider trading) running Mercantile Ports as Executive Chairman had prior to the Placing been making the front page of the Indian business sector news, as a result of receiving writs alleging the embezzlement of £12m of funds from a company he had previous executive responsibility for, into bank accounts managed by his own family, and his involvement in a High Court case as a result of issuing a blank company cheque to the MD of a major supplier.

After, providing evidence there was reasonable grounds to suggest Mercantile Management had serious questions to answer regarding the possible embezzlement of tens of £millions up to possibly £100m of Mercantile shareholders funds.

After advising that a formal complaint with supporting documentation had been lodged with both AIM Regulation and the Serious Fraud Office requesting an urgent investigation of Mercantile Ports and Logistics and the activities of its Nomad, since the market was forming the opinion they were creating the impression the company was a scam and had therefore priced the equity accordingly.


Cenkos has to date responded by keeping their head down and removing all evidence from their own website that they carried out the £37m Mercantile Placing. There is also no evidence on the website that they were responsible for the £72m Mercantile IPO, or continue to this day as Mercantile's Nominated Advisor. I wonder why?

AIMHO/DYOR

[topvest] 02/1/2018 21:09

Isn't this the Trafficmaster founder back again. Think he tried to float this a few years ago, but pulled it. Interesting!

[qackers] 02/1/2018 19:09

By Mark Kleinman, City Editor

Britain's biggest provider of infrastructure to the electric vehicle market is plotting a £170m bid to charge on to the London Stock Exchange (LSE).

Sky News has learnt that Chargemaster, which was founded a decade ago and claims to have a 50% share of the fast-growing sector, is targeting a flotation in June.

The company has appointed Cenkos Securities, the stockbroker, to oversee the initial public offering (IPO), from which it wants to raise £50m by selling new shares to investors.

Sources close to Chargemaster's plans said it was seeking a pre-fundraising valuation of £120m, meaning that it would be worth £170m at the point of its flotation.

The company, which is privately owned, has partnerships with car manufacturers including BMW, Jaguar Land Rover (JLR), Nissan, Renault and Tesla, the electric vehicle group founded by technology billionaire Elon Musk.

[topvest] 30/12/2017 14:41

A good year for Cenkos I agree. Probably not their best, but good all the same. Need a very big deal like AA or BM Marketplace to make it a stellar year. Anyway seem to have recovered well post controversy and well placed in 2018.

[interceptor2] 30/12/2017 14:26

Thanks Guildedge. Smart Metering was concluded in November perhaps that will be updated on their site soon.

I think that we have had four transactions for December, Regional Reit Placing £79m, Duke Placing £20m, Seeing Machines Placing £30m, Tufton IPO £100m.

Which will conclude 2017 very nicely, CNKS normally don't release a trading update before the results at the end of March with the exception of an update on 15th February 2016. But we have a new CEO and FD in place now who might be rather keen to update the market on a successful year.

January trading update?

[quepassa] 30/12/2017 05:38

Thanks, Guildedge.

And at £350m Civitas was BIG with likely commensurate big fee income.

Second largest headline amount raised this year after Stobart in April at £386m.


ALL IMO. DYOR.
QP

[guildedge] 29/12/2017 22:28

Website has been updated with November transactions.
Civitas £350M
Beeks £7M
Science in Sport 14.8M.

This is less than last November. Albeit they did more transactions value wise in H2 compared to H2 2016. The 2 big Hurricane transactions make a big difference in July. 1-2% of 860m could be 8-16m pending on what their fee is on money raised. Also pends what other transactions fall into December. H1 they raised £982m.

Smart Metering System was not on there. So that could easily help them beat H1 results. With revenue maybe in excess of 60m for the year? See what happens. Big dividend on the way in due course.

[poggio] 20/12/2017 13:31

Thanks QP and speedsgh

[speedsgh] 20/12/2017 11:57

@Poggio - I wouldn't read too much into the timing of the webpage updates. We know from the rns service that the following transactions were successfully concluded in November which made it a pretty good month for the company.

Cloudcall Group (CALL) - £5.7m
Smart Metering Systems (SMS) - £150m
Beeks Financial Cloud Group (BKS) - £7.0m
Civitas Social Housing (CSH) - £302m

Exactly when/how much Cenkos will have earned on each transaction is of course unknown but one suspects that fees earned will fall in the current FY ending 31/12/17. So long as they are continually replenishing the pipeline with new fundraising opportunities, I'm not sure that shareholders should be too worried about how often the Transactions webpage is updated, although I would agree that it would give the wrong impression to anyone looking at the page if the data starts to get too out-of-date. Aimho.

[quepassa] 20/12/2017 11:54

you know the way these places work.

employees come and go. responsibilities get shuffled from one department to another and things go into limbo and fall between the cracks when there is a change.

my guess is that it is nothing at all sinister. my guess is more of an admin/responsibility/change of employee thing to do with website updates.

not suggesting that's an acceptable excuse for their change in update rgularity and reliability. their deal flow seems to have been very strong recently.

and fully agree that they are missing a trick by not updating the transaction pages in a timely way.

ALL IMO. DYOR.
QP

[poggio] 20/12/2017 11:23

The list of completed transactions shown on the Cenkos website is useful as each transaction indicates a form of lumpy revenue. Whilst the size of each transaction does not indicate the associated revenue arising I compare a simple of sum of transactions to the previous year to get a rough indication of likely financial performance.

The update policy for this web page matters. At the beginning of 2017 transactions were added to the page shortly after each transaction completed, and it has been like this for many years. The policy appears to have changed over summer 17 so that updates to the page are now done monthly. However, at the beginning of December the November updates should have been posted. Nothing has appeared. The implication is that Cenkos were not involved in any fund raisings in November 17, contrary to reports on this BB that there were 4 transactions in which Cenkos were engaged in November.

I emailed Cenkos using the enquiry email service to ask about the update policy of the webpage. This service guarantees a response within 24 hours. I was surprised to have no response what so ever. I guess it is possible that the service failed.

It is important that we know because this web page provides important transparency. You would think this was in Cenkos best interests (unless there is bad news that the company wants to suppress).

So what should I conclude from this?
1) That Hotson no longer feels this page is important. Perhaps the page will be dropped altogether.
2) It is an oversight by Cenkos and it will be updated from time to time without regularity i.e. priority has fallen.
3) The policy is under review perhaps moving to quarterly, half yearly updates.
4) Bad news is coming.

What do folks think is happening here?
Thanks
Poggio

[speedsgh] 19/12/2017 17:51

Further to posts #2624 & #2629, Regional REIT have managed to raise total gross proceeds of £73m against a target of £100m. Cenkos acted as Joint Placing Agent (alongside Peel Hunt)...

Results of Capital Raising -

[topvest] 18/12/2017 20:43

Nice little fundraise just before year-end. Overall, a pretty good 2017 for Cenkos.

[speedsgh] 18/12/2017 09:49

Further to posts #2643 & #2648, Tufton Oceanic Assets Limited (LSE: SHIP) have confirmed that they have raised $91m (c£68m) in their Placing and Offer for Subscription at IPO. They were looking to raise in excess of $100m. Cenkos is acting as Joint Placing Agent & Financial Adviser...

RESULTS OF PLACING AND OFFER FOR SUBSCRIPTION -

[speedsgh] 13/12/2017 08:45

Cenkos, who are Nomad/joint corporate broker (alongside Jefferies) to Avanti Communications (AVN), appear to be working on a restructuring deal which may include a capital raise in early 2018...

Announcement of Proposed Restructuring -

Potential capital raise
Following and contingent upon the adoption of the 90% Proposed Amendments and the completion of the Debt for Equity Swap, the Company may seek to raise circa $30 million of additional capital in the New Year. This potential capital raise may take the form of new equity and/or additional 2021 Notes. Should the Board decide to proceed with such a capital raise it will update shareholders accordingly.

Satellite ‎group Avanti takes flight with $550m debt overhaul -

...Cenkos Securities and Jefferies, the investment banks, are working on the overhaul of Avanti's capital structure.

[quepassa] 11/12/2017 11:08

The volumes and numbers of IPO's/Primary and Secondary placings on AIM this year are astonishingly buoyant despite doubts about the health of the AIM issuance market earlier this year. These doubts, fuelled by Brexit uncertainties, have with benefit of hindsight proved unfounded.


On track in my opinion for the best year since 2010.


See the official issuance stats just released on Friday from the London Stock Exchange updated to end-November:

hXXp://www.londonstockexchange.com/statistics/markets/aim/aim.htm


Bodes very well for the sector and the fortunes of Cenkos.



ALL IMO. DYOR.
QP