Cenkos Securities Share Discussion Threads

[speedsgh] 27/6/2018 13:27

A couple of Cenkos employees have been poached by Cannacord...

Canaccord adds five City analysts in research push -

Canaccord Genuity has made a raft of senior hires to its bench of European and UK equity analysts, shrugging off concerns about the impact of new EU research rules on the City's smaller brokers.

The Toronto-based bank has hired from rivals Liberum, Stockdale Securities and Cenkos at a time when some smaller research providers in the UK have begun to feel the full force of the EU's second Markets in Financial Instruments Directive.

Mifid II, which came into force in January, requires fund managers to split out the costs of investment research from the dealing commissions they pay brokers — forcing them to become more selective about what they pay for.

Justin Bates and Portia Patel are set to join Canaccord from Liberum, with Bates leading Canaccord’s financials research team in London when he takes on the role in August.

Bates joined Liberum in 2014, having previously worked at Keefe, Bruyettes & Woods and Numis Securities. Patel has worked at Liberum since October 2016. She joined the firm after holding various roles at RBC Capital Markets for almost five years.

Canaccord has also recruited Joanna Parsons from Stockdale Securities, where she is head of research. Prior to working at Stockdale, Parsons worked for Royal Bank of Scotland and HSBC.

Alex Aylen and Bobbie Hilliam, both currently at Cenkos, will complete the raft of hires...

[speedsgh] 27/6/2018 11:01

Loss of mandate...

Cenkos were previously acting as sponsor, financial adviser & bookrunner on the IPO of Hipgnosis Songs Fund Ltd which was first announced on 22/6/17 and was looking to raise £200m (min target £100m) -

The IPO was subsequently shelved.

Hipgnosis have now announced that they intend to attempt to float again. They are again looking to raise £200m via a placing & offer for subscription. Cenkos appear to have lost out to N+1 Singer who have been appointed as Financial Adviser & Bookrunner -

[speedsgh] 25/6/2018 11:46

New mandate. Cenkos have been appointed sole broker to Trinity Exploration & Production (TRIN), replacing Cantor Fitzgerald Europe...

Appointment of Broker -

In a separate announcement Trinity Exploration & Production (TRIN) have announced a Placing/Subscription/Offer to raise up to $20m. Cenkos are acting as lead bookrunner alongside Whitman Howard who are acting as joint bookrunner & SPARK Advisory Partners who are acting as Nomad/Financial Adviser...

$20m fundraise to accelerate growth and repay debt -

[cwa1] 18/6/2018 07:39

As referred to by topvest:-



RA International, a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce its intention to seek admission of its Ordinary Shares to trading on the AIM Market of the London Stock Exchange ("Admission"). Cenkos Securities is acting as nominated adviser and sole broker to the Company in relation to Admission.

[topvest] 15/6/2018 20:51

Another c£20m.

[topvest] 14/6/2018 20:07

Yes, only about £300m raised YTD so need some big deals to come through. One big one would do!

[speedsgh] 14/6/2018 14:31

Only a couple of weeks to go until end of H1. It's looking like funds raised will be somewhat less than H1 2017 which wasn't great itself (H2 2017 was much stronger). This is somewhat disappointing; there is plenty of IPO/fundraising activity going on, so the lack of activity for Cenkos is slightly concerning.

The outlook statement at the AGM a month ago was more bullish than at the time of Final Results but they have plenty of catching up to do in H2 in order to match 2017 figs. Aimho

[topvest] 12/6/2018 17:15

Yesterday may have been connected with the Quindell KPMG fine possibly.

[lord gnome] 12/6/2018 16:23

No, other than to say that this share has always bounced around a lot on thin trade.

[goldry] 12/6/2018 16:16

Anyone got a clue as to what has been going on the last couple of days?

[speedsgh] 07/6/2018 07:49

A bit more work in the pipeline. Cenkos have been lined up as Nomad & joint broker to Neuroprotexeon who are planning to IPO on AIM in H2 2018...

Announces Plan for Initial Public Offering on AIM -

NeuroproteXeon, a late clinical-stage pharmaceutical and drug delivery device company developing and commercializing the proprietary use and delivery of XENEX™ (pharmaceutical grade xenon gas for inhalation), announces today that it is seeking to complete an initial public offering on AIM, a market operated by the London Stock Exchange during the second half of 2018.

The net proceeds of the proposed capital raise will allow NPXe to complete a Phase III trial for XENEX™, in conjunction with targeted temperature management, to improve survival and functional capabilities of patients with Post-Cardiac Arrest Syndrome ("PCAS"). The first patient is expected to be treated this summer.

Cenkos Securities plc ("Cenkos") is to act as Nominated adviser and joint broker to NeuroproteXeon and WG Partners LLP ("WG Partners") is to act as joint broker.

Subject to prevailing market conditions and investor demand, the Company is seeking a new money valuation significantly in excess of the $59 million achieved in the last round of financing, which was completed in 2017. Since that date, and as previously announced, NPXe has entered into a licensing agreement with Linde AG (LIN.DE). Together with its existing agreement with Mallinckrodt LLC (NYSE:MNK) the combined agreements will provide NPXe with up to £44.6 million in milestone payments. Of this amount, c.£12.5 million has either already been earned or is anticipated in relation to the commencement of the Phase III study. Each license includes an increasing multi-tiered royalty structure...

[isaallowance] 05/6/2018 22:11

Thanks for the quick replies, will have to chase up AJ Bell tomorrow, first time they've ever been more than 1 day late with a divi for me.

[lord gnome] 05/6/2018 21:24

Mine as well.

[quepassa] 05/6/2018 21:23

Yes - received and credited to me on 31/5/18 with my online brokers.

QP

[isaallowance] 05/6/2018 21:07

Has anyone received their final dividend yet that I thought was due on the 31st May?

[topvest] 31/5/2018 18:35

By the way Mr Tinkler sounds a bit of a handful and his surname appears quite appropriate.

[topvest] 31/5/2018 18:34

Yes, agreed. I would suggest that 12 months ago they probably wouldn’t have resigned. Definitely a positive provided they don’t lose their entrepreneurial flare!

[quepassa] 31/5/2018 10:52

Lengthy article on page 19 of today's FT about Stobart and the resignation by Cenkos as broker.

A neutral, factual article.


It appears to me that Cenkos did exactly the right thing in resigning, highlighting its exemplary standards of self-governance since the arrival of Mr. Hotson.


ALL IMO. DYOR.
QP

[glawsiain] 30/5/2018 10:40

"Stobart, the owner of London Southend Airport, has seen its broker resign this morning amid a heated boardroom battle.

Broker Cenkos has stepped down as it is understood to have a long-standing relationship with Andrew Tinkler, the former boss of Stobart who is attempting to oust chairman Iain Ferguson.

City A.M. understands that Cenkos did not feel able to independently carry out its duties with the boardroom row continuing, and also did not want to jeopardise its relationship with Tinkler."

from

[cwa1] 30/5/2018 08:20

Wasn't entirely sure why they saw the need to resign, as such, from what we've seen, they don't seem to be "fingered" in either announcement. However they're clearly not aligned with one of the parties and felt the need to go for whatever reason. More to come I suspect.....

[speedsgh] 30/5/2018 08:11

Resignation of Stobart Group brokership is a strange one. Yet to fathom why Cenkos feel the need to resign. Are they closely aligned with Mr Tinkler who appears to be causing the current upheaval?

These are the two announcements referred to in the Cenkos rns. The gloves were certainly off in Stobart's rns yday.

Annual General Meeting and possible Board changes (25/5) -

Update on AGM and possible Board changes (29/5) -

[cwa1] 30/5/2018 07:49

Resignation of Stobart brokership:-

[speedsgh] 24/5/2018 20:37

Cenkos is acting as sponsor & placing agent on a 12-month placing programme for ICG-Longbow Senior Secured UK Property Debt Investments Ltd (LBOW). The company can issue up to 100 million shares under the placing programme...

Publication of Prospectus and estimated NAV per Share -

From the prospectus:
"The minimum price at which Ordinary Shares will be issued pursuant to the Placing Programme will be equal to the prevailing published NAV per Ordinary Share at the time of allotment and issue together with a premium intended to at least cover the costs and expenses of the relevant Placing of Ordinary Shares (including, without limitation, any placing commissions)."

The estimated NAV per Share of the Company as at 30 April 2018 was 100.58p

"Under the Placing Agreement, the Company has agreed to pay Cenkos a corporate finance fee and a commission based on the gross proceeds of each Placing under the Placing Programme. The commission will be reflected in the relevant Placing Price of Ordinary Shares and on an issue of C Shares met by the subscribers for C Shares."

[doc_oj] 22/5/2018 23:30

@speedsgh: thanks for the regular updates!

[speedsgh] 22/5/2018 08:20

Re appointment as sole broker to AEWL, decent likelihood of a capital raise in short/medium term imo.

From AEWL's Half Year Report in Feb...

"Following the full deployment of the IPO proceeds and substantially all the debt, the outlook looks positive. The Board and Investment Manager are confident of delivering strong returns for our shareholders in the second half of the financial period to 30 June 2018 and in the future.

Our current focus is to continue to grow the Group and, subject to market conditions, look to raise additional equity. This will enable the Group to take advantage of economies of scale in its cost base and to allow the Investment Manager to capitalise on the investment market opportunities it sees..."

From Trading Update on 26/4...

"Following these transactions, the equity raised at IPO is almost fully invested and the Group has also utilised £28.6m of its £30m debt facility..."

AEWL raised £80.5m at IPO in June 2017 against a target of £150m.