Cenkos Securities Share Discussion Threads

[verymaryhinge] 25/4/2018 10:18

mebbe he's off ?

[cwa1] 25/4/2018 09:59

Indeed, not hugely relevant. Though I'd have preferred it was a purchase. Also sold another tranche on 12/4. Probably just for the kitchen though :-)

[verymaryhinge] 25/4/2018 09:14

err 25k.. hardly relevant - maybe his missus wants a new car ... or has a tax bill.. £25k...

[cwa1] 24/4/2018 17:43

Huge vote of confidence. Not:-

[quepassa] 24/4/2018 03:38

Good news about confirmation of Rosenblatt float.

Good news that Cenkos are confirmed in the AIM Admission Notice as their NOMAD.

Expected Admission Date quite near at hand being 8th. May 2018.

Hopefully deal size will emerge within next few days.


The market backdrop and investor sentiment in the small cap sector are improving significantly which should further buoy business prospects for the likes of Cenkos and Numis.


ALL IMO. DYOR.
QP

[speedsgh] 23/4/2018 20:36

Further to posts 2760/2761, the following announcement confirms Cenkos as Nomad/broker to Rosenblatt Group, the city law firm, who expect to list on AIM on 8/5. Capital to be raised on admission is still to be confirmed...

AIM Schedule One: Rosenblatt Group plc -

Rosenblatt confirms it will be the fourth English law firm to go public -

... A source told City A.M. that part of the motivation for the float was to raise money to fund litigation cases, reducing the need to rely on external litigation funders.

Rosenblatt has previously received litigation funding from private equity firm Doorway Capital

In a statement Rosenblatt’s chief executive Nicola Foulston said: “The funding will support the growth of the firm, building on our position as one of the top three dispute resolution firms in the capital and allow us to take advantage of the disruption in the UK legal marketplace. Dispute resolution is a growing market with London set to remain the biggest international centre for this work.”

Rosenblatt to become fourth UK law firm to go public -

[quepassa] 23/4/2018 12:04

Excellent review (page 16)of the sector in Weekend FT with special mention of Numis and Cenkos.

[its the oxman] 18/4/2018 18:55

Tempted to add at this level but not sure what will get the share price moving.

[topvest] 17/4/2018 20:47

The Breedon deal is a bit more positive. All been a tad slow of late.

[hardupfedup] 17/4/2018 14:17

being squeezed here imo could bounce

[speedsgh] 17/4/2018 12:10

Further to previous post #2787...

Results of Placing to raise approximately £170 million -

Further to the earlier announcement in relation to the Placing, Breedon announces that the Clawback Placing is closed and a total of 222,222,222 new shares have been placed with existing institutional and other investors raising gross proceeds of £170.0m before expenses.

[speedsgh] 17/4/2018 12:08

Cenkos are acting as Nomad & joint broker, alongside Numis Securities, on a £170m placing for Breedon Group (BREE). There is also a small associated Open Offer...

Breedon to acquire Lagan Group -

The Placing
The Placing Shares have been conditionally placed by Cenkos Securities and Numis Securities, as agents for Breedon, with existing institutional and other investors at the Placing Price in accordance with the terms of the Placing Agreement. Breedon intends to use the net proceeds of the Placing to part-fund the cash consideration payable under the terms of the SPA.

Of the Placing Shares, 65,488,454 new Ordinary Shares (the "Clawback Placing Shares") have been placed subject to a right of recall to satisfy allocations under the Clawback Placing which will be launched immediately following this Announcement. The Clawback Placing is subject to the terms and conditions set out in the appendix of this Announcement. The remaining 156,733,768 Placing Shares (the "Firm Placing Shares") have been placed firm and are not subject to clawback...

Open Offer
The Board is pleased to provide Qualifying Shareholders with the opportunity to participate in the Open Offer at the Placing Price to raise approximately £4 million (assuming full take up of the Open Offer but being less than the €5 million maximum amount permitted without requiring publication of a prospectus under the Prospectus Rules). The Open Offer is in addition to and separate from the Placing. The Open Offer is conditional upon (amongst other things) Completion and is not being underwritten...

[keith95] 17/4/2018 10:41

"Pointless moving out of the UK as they will never make any return on the investment."

... Numis does very well with its USA connections, while the idea of the move to Asia was to facilitate fundraising for UK IPOs ....

... so your argument holds as much water as leaving the EU.


This share has 70p written all over it - the last results were a profit warning in disguise.

[topvest] 16/4/2018 18:48

They are a broker and nomad....in the UK. Pointless moving out of the UK as they will never make any return on the investment. They are not a manufacturing company!

[keith95] 16/4/2018 18:05

"Better to stick with the uk. Sensible move."

Perhaps - but doesn't really bode well for that Brexit idea of Breaking out into new markets does it?

[topvest] 12/4/2018 18:58

Better to stick with the uk. Sensible move.

[keith95] 12/4/2018 11:46

I noted Cenkos Asia has been shut down at a cost of a million or so .. I'm guessing that was the extra 2p in dividends.

[speedsgh] 12/4/2018 08:38

Cenkos have been appointed Nomad & joint broker (alongside Cannacord Genuity) to Seeing Machines Ltd (SEE), replacing previous Nomad/joint broker, finnCap. Cenkos previously acted alongside finnCap & Cannacord as joint bookrunner on a Placing/Subscription/Open Offer in Dec 2017 which raised £37.4m but was not previously listed as a joint broker to the company...

Change of Adviser -

[lord gnome] 11/4/2018 12:50

That would certainly suit me nicely. A decent, reliable yield, rather than a lumpy dividend that can go from good to poor in a single year. 9p a year will do for starters and it can progress from there.

[quepassa] 11/4/2018 09:05

Spot on.

Seems to me that the CEO has firmly stated/reiterated he wants to pay a non-volatile and reliable dividend (stable) - with the added kicker of special dividends when there is excess cash.

That's fantastic.

ALL IMO. DYOR.
QP

[speedsgh] 11/4/2018 08:55

As an aside, my attention was also caught by the following statement in the Results announcement:

"Our goal is to pay a STABLE ordinary dividend, reinvest into our Firm and return excess cash to shareholders subject to capital and liquidity requirements and the prevailing market conditions and outlook."

Wonder if this points to a more stable core dividend being paid going forward with excess cash being returned via special dividends/share buybacks into treasury? Hence the lower than anticipated 4.50p final payment vs 6.50p which was forecast. The new CEO appears to me to be slightly more conservative in his language & nature than the previous encumbent. Aimho

[speedsgh] 11/4/2018 08:48

Indeed. I note that in the full Outlook statement the CEO said: "There has been significant market volatility leading to a correction in all main global indices. This market volatility does appear to have had an impact on investor sentiment with a pause in the momentum the Firm experienced in the second half of 2017. Despite this,... we look forward to the future with cautious optimism."

It's all a question of personal interpretation. Perhaps I tend to feel more comfortable erring more on the side of caution. Despite operating in a sector where sentiment, fortunes & revenues can change rapidly, I've no doubt Cenkos will continue to perform profitably making healthy distributions to shareholders. GLTA

[quepassa] 10/4/2018 20:09

you have misrepresented what the CEO said in his Outlook statement.

it was not CAUTIOUS.

it was "with cautious OPTIMISM"


OPTIMISM is OPTIMISM.

[speedsgh] 10/4/2018 18:43

Hear what you're saying, QP but revenues do tend to be lumpy. Depends when deals drop for each peer in the sector e.g. it may have been a challenging end to last year for many, but Q4 was Cenkos's best quarter in 2017. Conversely Q1 2018 seems to have been a good one for many, yet 2018 appears to have been relatively quiet to date for Cenkos. Of course all that can change very quickly if they manage to bag one or two larger deals. Lack of revenue visibility is just one of the characteristics of the sector. Fortunes can change rapidly in either direction. Think the company's cautious outlook in results was telling. But in the long run it all tends to even itself out. Aimho

[quepassa] 10/4/2018 18:16

An interesting report in CityAm about the upbeat prospects for the IPO market in 2018.
Seems that the sector backdrop is improving after a challenging end to the 2017 IPO season.
Rosenblatt mentioned again.

A rising tide lifts all boats.

link to CityAM article

hXXp://www.cityam.com/283574/after-bumpy-end-2017-outlook-london-listing-market-2018


ALL IMO. DYOR.
QP