Cenkos Securities Share Discussion Threads

[quepassa] 31/3/2020 17:31

Post 3373 refers.



This is what Cenkos wrote in their RNS on 18th. Feb:

"The confidence in our pipeline is reflected in the Board's expectation of announcing a final dividend when it releases its results for the year ended 31 December 2019, in late March 2020."

Well, today is the final day of March. Markets have now closed for the day and still not a peep. Nothing. Nada. Zilch.

What terrible corporate etiquette in my view not to have done as they said or at a minimum to have updated the market on a new date range for release of results.

In my view, this smacks of disdain for shareholders and is definitely bad corporate form, especially so for a corporate finance house which is meant to be savvy in the importance of shareholder updates.

On a scale of zero to ten for their efforts in shareholder relations, I know what score I would give them.


ALL IMO. DYOR.
QP

[speedsgh] 31/3/2020 09:36

New mandate. Cenkos have been appointed Nomad/sole broker to InfraStrata (INFA). They replace Allenby Capital as Nomad/joint broker & Arden Partners as joint broker.

[seagreen] 26/3/2020 11:18

Cenkos is still one of the best at raising the money....with the cheapest base salaries in the biz amongst respected brokers

[speedsgh] 26/3/2020 08:21

Cenkos are acting as Nomad & broker on a £3.5m placing for Arena Events Group (ARE). Arena are also raising an additional £6m via a subscription. Cenkos will only earn a fee on the placing element of the fundraising.

Proposed Subscription and Placing -

[quepassa] 25/3/2020 15:33

Around 21st Mar The FCA wrote to all listed companies requesting them to delay publication of their preliminary results for "at least two weeks" so that they would have sufficient time fully to assess any impact of current situation.

Cenkos is/was due to issue results in late March, as announced in their recent latest Trading Update.

Any update as to any revision or otherwise for date for release of results would perhaps be of interest.

ALL IMO. DYOR.
QP

[speedsgh] 25/3/2020 07:39

N+1 Singer have replaced Cenkos as Nomad & broker to Angling Direct (ANG). Cenkos have helped ANG raise £7.4m at IPO in June 2017 & a further £20m via a placing in Oct 2018...



Angling Direct plc (AIM: ANG), the UK's largest and fastest growing fishing tackle and equipment retailer, announces the appointment of N+1 Singer as Nominated Adviser ("NOMAD") and broker with immediate effect.

[albert zog] 22/3/2020 18:58

IPOs will be off the agenda but rescue rights issues may be a big fee stream

These brokers can make money in collapsing markets

[seagreen] 20/3/2020 12:15

if they dont pay a final dividend as long term holders would agree with ...be fair on bonus as they dont get fair salaries...maybe directors defer salaries in liu of shares....on the basis they had a reasonable year...not a total surprise to see market cap less than cash....Jo and Jimmie made this great with the silver fox...theyy will do it again

[seagreen] 19/3/2020 14:14

some one hovered up the cheap stock early doors.

[trident5] 19/3/2020 09:12

The cash position shouldn't have changed too much from June - it's just ticking along. It's also able to dial down its main cost (payroll) to some extent in line with market conditions.

[speedsgh] 19/3/2020 08:48

Cash on b/sheet as at...

30/6/19: £14.7m
31/12/18: £33.6m
30/6/18: £21.7m
31/12/17: £36.8m

Anyone's guess as to present cash position. Final Results due in the next week or so which will at least give cash balance as at 31/12/19.

[albert zog] 19/3/2020 08:32

How much cash does Cenkos have ? On b/sheet or for trading purposes

Market cap is 17m right now

The divi will be cancelled. Saves cash. But how much time does Cenkos have in terms of cash burn ?

ALL IMO . DYOR

[albert zog] 19/3/2020 08:32

How much cash does Cenkos have ? On b/sheet or for trading purposes

Market cap is 17m right now

The divi will be cancelled. Saves cash. But how much time does Cenkos have in terms of cash burn ?

ALL IMO . DYOR

[speedsgh] 18/3/2020 19:39

Eden Research (EDEN) have raised gross proceeds of £10.4m via a Placing, Subscription and Open Offer. Cenkos acted as nominated adviser and broker in connection with the Placing (£9.1m) and Open Offer (£0.29m) elements of the fundraising. No details of fees earned by Cenkos are contained in the circular issued by EDEN.

[albert zog] 09/3/2020 00:47

I’m afraid the oil price crash will be the nail in the stock market coffin for 2020

ALL IMO. DYOR

[quepassa] 08/3/2020 18:34

Thanks Speed, had been waiting for the Admission Doc to become available on first date of dealings.

Thanks for detailing the fees.

And that is indeed one helluva mighty fee of more than four million quid for the good house of Cenkos.


ALL IMO. DYOR.
QP

[speedsgh] 06/3/2020 10:01

@QuePassa - The following is from the FRP Advisory admission document...

Under the Placing Agreement and subject to its becoming unconditional:
(a) the Company has agreed to pay Cenkos commissions of 5 per cent. of the aggregate value of the New Shares at the Placing Price together with a corporate finance fee of £175,000; and
(b) the Selling Shareholders have agreed to pay Cenkos commissions of 5 per cent. of the aggregate value of the Sale Shares at the Placing Price


New shares: £20m x 5% = £1m commission + £175k corporate finance fee = £1.175m
Sale shares: £60m x 5% = £3m commission

Total fees earned by Cenkos = £4.175m

[speedsgh] 06/3/2020 09:52

Confirmation this morning that Cenkos has successfully raised £20m of new funds on behalf of FRP Advisory as part of their IPO offering...

[speedsgh] 04/3/2020 11:21

Indirect confirmation in Crystal Amber results today that they lost their activist battle with the Cenkos board...



REALISATIONS
Over the period, the Fund realised profits of £14.3 million from the Leaf Clean capital return and £2.1 million from Hurricane. Losses of £3.6 million were realised from the Northgate sales and £2.3 million from disposals of Cenkos stock.

[albert zog] 26/2/2020 09:27

Yes a 10% correction

CNKS a geared play on markets so should be 2x the market decline imho

Hopefully just a short term action

[trident5] 26/2/2020 09:13

Presumably the price action is not Cenkos specific but a reflection that the virus has the potential to subdue market activity if it becomes a pandemic?

[quepassa] 21/2/2020 16:32

Admission date is 6th. March and the Admission document is intended to be published nearer that date .

Can't find the prospectus anywhere - if there was one!

Maybe we'll need to wait until nearer 6th when Admission happens.

thanks anyway.

QP

[speedsgh] 21/2/2020 16:11

QP - Most likely source of that info will be an Admission Document or Prospectus if that is openly published.

[trident5] 21/2/2020 15:50

£50k - And that's shareholders' money.