Cenkos Securities Share Discussion Threads

[seagreen] 06/12/2019 11:11

Historically when conditions are better they have paid out a very healthy dividend yield as a lot of the Directors and employees are shareholders. In a healthy market it is not too ridiculous to see a 20% return on the current low share price in a years time.

[f15jcm] 06/12/2019 09:15

I picked up 30k shares yesterday, a new holding for me. The slight discount to book value should provide some downside protection while the potential upside from a release of pent up corporate activity in the UK capital markets, is considerable (100% I think is realistic). This company made a PTP of £10m in 2017. Mcap is only £24m

[topvest] 05/12/2019 18:28

Yes, agreed. There is the odd encouraging sign. Early days.

[seagreen] 05/12/2019 16:19

I would not back against General Durkin and Brigadier Nally turning this ship around as conditions improve they did it from a standing start before

[speedsgh] 04/12/2019 08:37

Further to post #3243, Creo Medical Group (CREO) has conditionally raised £50m via the Firm Placing and Placing. They are also looking to raise up to £6.6m via an Open Offer. Cenkos are acting as sole broker.

[quepassa] 04/12/2019 07:14

Numis. Today. Full year figures.

Poor results due to adverse market backdrop.

Profits significantly down.

But dividend MAINTAINED at 12p for 4th. consecutive year.

A hint of better market days to come ("materially ahead" & "encouraged") in Numis' Trading Outlook:

"Equities has also delivered an improved revenue performance with strong trading gains and an increase in execution commissions contributing to a strong two month performance, materially ahead of the comparative period.

Whilst the political uncertainty and macroeconomic concerns impacting our FY19 results have not subsided, we are encouraged by the recent performance of the business. Market conditions and the upcoming general election will likely impact the pipeline of deals in the short-term but we remain well positioned to progress our strategy."



ALL IMO. DYOR.
QP

[speedsgh] 02/12/2019 08:50

Cenkos have been replaced as joint broker to Civitas Social Housing (CSH) by Panmure Gordon. This is presumably linked to the 9-strong Cenkos team that Panmure recently recruited (see post 3235).

Quality client loss. Cenkos helped CSH raise £350m at IPO in Nov 2016 & £302m in Nov 2017. Nothing since.

[speedsgh] 02/12/2019 08:39

Cenkos are acting as sole broker to Creo Medical Group (CREO) on a placing to raise up to £43m (open offer also being proposed to raise up to £6.6m).

[its the oxman] 28/11/2019 17:23

Can't decide whether to be brave and double up or give up on Cenkos and move on. Very disappointing and being left behind by the market for now.

[topvest] 27/11/2019 08:31

Things are picking up. A small Somers IPO - connected to UIL.

[speedsgh] 25/11/2019 10:56

Cenkos have been appointed by Sativa Group (NEX:SATI) to explore a potential move from the NEX exchange to an AIM listing...



As the Company continues to mature and expand, the Board has considered the most appropriate market on which its shares should trade. The Company confirms that it has appointed Cenkos Securities to explore the Admission of the Company's shares to trading on the London Stock Exchange's Alternative Investment Market ("AIM"). Whilst there can be no guarantee that this will be achieved, the Company is keen to pursue an Admission to AIM as soon as practicable in the New Year.

[speedsgh] 25/11/2019 10:48

Cenkos peer, finnCap, have released their Interim Results this morning which appear creditable in view of the current market conditions...



Financial highlights:

· Turnover of £14.2m (5 months to 30 September 2018: £9.1m)

o Equity Capital Markets division turnover £9.2m (5 months to 30 September 2018: £9.1m)

o M&A division turnover £5.0m (5 months to 30 September 2018: £nil)

· Pre-tax profit £1.4m (5 months to 30 September 2018: £1.4m)

· Adjusted EPS of 0.76p per share*

· Interim dividend of 0.42p per share

· Cash of £5.1m (31 Mar 2019: £4.7m)

Commenting on the results, Sam Smith, Chief Executive Officer, said:
"The period has seen some very testing market conditions, ongoing domestic political uncertainty and turbulent macro-economic headwinds affecting equities globally. The Group now has a more diversified revenue stream following our acquisition of Cavendish Corporate Finance in December 2018 and we remain excited about continuing to build a financial services business for growth companies."

[speedsgh] 25/11/2019 10:43

Cenkos are acting as Nomad/sole broker on a placing/subscription for Corero Network Security (CNS) to raise up to £3.25m...



The Company has conditionally raised up to approximately £0.95 million before expenses by the conditional Placing of up to 27,268,543 Placing Shares at the Issue Price by Cenkos, as agent for the Company, with Placees...

The Company intends to raise up to £3.25 million ($4.2 million) before expenses in the Placing and Subscription. The aggregate estimate of expenses for the Placing and Subscription is expected to be £0.125 million...

Cenkos Securities plc, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting solely as nominated adviser and broker to the Company in connection with the Placing...

[topvest] 22/11/2019 13:53

It looks like they will lose some / all of their investment trust clients. Not good, but this was mentioned a while back. At least the T Clarke mandate win is some evidence of something going right. I would hope that the CEO starts things motoring over the coming months. Let's see!

[speedsgh] 22/11/2019 12:13

A recent new appointment for Cenkos as broker to T Clarke plc (CTO)...



TClarke plc (the "Company"), the building services group, is pleased to announce that Cenkos Securities plc has, with effect from today, been appointed as the Company's Corporate Broker...

[speedsgh] 13/11/2019 09:38

Panmure Gordon lifts nine-strong team from struggling Cenkos -

[speedsgh] 11/11/2019 09:28

Loss of mandate. Panmure Gordon replace Cenkos as corporate broker to European Assets Trust (EAT).

[quepassa] 07/11/2019 14:09

For followers of the financial theory of Mean Reversion, Exhibit 15 on the Edison Research note today is fascinating.

It details and graphs the ten year history of share price to book value for Cenkos.

The ten year average is 2.4x, having peaked near 4x on a few occasions.

The current ratio is just 1x which is a ten year (if not all-time) low.

Edison comments:

"Cenkos’s current rating at 1x book represents a low point over this period reflecting the difficult market background, but also suggesting an opportunity on a medium to longer view given the potential for a substantial recovery in earnings and return on equity."


And The Employee Trust just keeps on buying....


ALL IMO. DYOR.
QP

[quepassa] 07/11/2019 09:16

Edison Research this morning INITIATES COVERAGE of Cenkos in a detailed note.

An excellent, compelling and thorough piece of Research from highly regarded Edison.


ALL IMO. DYOR.
QP

[quepassa] 05/11/2019 16:55

Yawn. Yawn. Yawn

[albert zog] 05/11/2019 13:28

How else will private equity and institutional buyers get their money out of investments other than through selling them into the equity market?

Secondary and tertiary buyouts ? Staple finance is at 5x these days


There's a lot the Treasury and Downing Street can do to further encourage new listings for high-growth and hi-tech companies in the UK.

Remove IHT status for AIM ?

The main marginal buyer of the public equity asset class has been companies, not punters like you. Eg share buybacks

Listen to knowledgeable voices. Not PR hype. Only then will you understand what is going on.

[quepassa] 05/11/2019 11:25

you said GLOBAL de-equitization.

and now we have the single most valuable company in the whole world which is listing and selling equity - hardly supportive of any thesis of de-equitisation .

you have just been following the financial media flock which has been writing recently that because European/UK IPO's have hit a low due to unstable conditions, this points to de-equitisation. You therefore incorrectly conclude that the bottom has fallen out of the new listings equity market.

It's nonsense. Just a temporary phenomenon. And as soon as the markets return, listings will sky-rocket. How else will private equity and institutional buyers get their money out of investments other than through selling them into the equity market?

There's a lot the Treasury and Downing Street can do to further encourage new listings for high-growth and hi-tech companies in the UK. Read the article.

[albert zog] 05/11/2019 10:12

AramCo is listing in Riyadh ? 3% of its equity ? How does that benefit Cenkos ?

AIM is losing an average of 6 companies a month, back in UK

There's nothing the Treasury or the FT can do about de-equitization … you must listen and understand that

[quepassa] 05/11/2019 08:24

you clearly haven't read today's FT and you don't know what you are talking about.


de-equitisation....yeah right....have you heard of the AramCo IPO...that's hardly global de-equitization is it????

[albert zog] 05/11/2019 08:06

No chance …. de-equitization is global, not something the Treasury can deal with in isolation

There is no research in a post Mifid environment … and the UK is on a PE of c12x … the lowest in Europe, so valuations will not be there either