Cenkos Securities Share Discussion Threads

[speedsgh] 06/4/2020 19:35

Further to post #3401, confirmation this pm that Providence Resources (PVR) have successfully raised gross proceeds of USD3.3m (£2.7m) via their placing/subscription. Cenkos acted as joint bookrunner alongside J&E Davy and Mirabaud Securities.

Result of Fundraising -

[speedsgh] 06/4/2020 08:08

Cenkos are acting on a USD3.0m (£2.45m) placing/subscription for Providence Resources alongside joint bookrunners J&E Davy and Mirabaud Securities.

Proposed conditional fundraising to raise approximately US$3.0 million -

... Under the Placing Agreement, the Company has agreed to pay to the Joint Bookrunners a commission based on the aggregate value of the Placing Securities placed at the Issue Price and to Cenkos and Davy a corporate fee for the Placing...

... Shareholders should note that, if the Fundraising is not successful, the Company’s ability to continue as a going concern beyond mid-May 2020 will be materially compromised and the outcome of the Barryroe farm out process will be negatively impacted...

[smicker] 05/4/2020 14:52

How relevant is this to Cenkos?

[seagreen] 03/4/2020 08:22

Good post and sensible update, I hoped they would be at least trading at cash.

Lets hope the world heals itself as they are in a very healthy position to move forward

Presume the £3m saving will include a large chunk relating to the departure of the investment trust team so does not look as though there will be any need for major lay offs,

As there is only a small profit I hope they have kitchen sinked any required provisions and whilst I acceot the need for dividends I personally hope they delay any further dividends until the market kicks back into action and some clarity appears with the virus.

[albert zog] 03/4/2020 07:29

Dividend ?

[quepassa] 03/4/2020 07:14

That's better to have a courtesy update.

Some big positives there in the circumstances.

Reconfirmation that 2019 in line with previous updates:

"When released, the audited results are expected to be in line with the trading update issued on 18 February 2020."

The very strong cash position of Cenkos is to be noted at £23.8million AS AT 1st APRIL 2020 .

This compares to the market cap which is lower at approx £22.8million ( 57.12 m shares x 40p).

Not many companies trade less than cash value.

ALL IMO. DYOR.
QP

[seagreen] 01/4/2020 19:20

Be not sweet, or else you’ll be eaten. Be not bitter, or else you’ll be spat out.

[quepassa] 01/4/2020 15:53

sea green. haven't got time to wade thru a post as long and rambling as that.

the word deramping is about as far as I bothered to go......

one notes that you are an unvalidated poster and new to this board...unlike some

cheery-bye

[trident5] 01/4/2020 14:56

Don't own shares in Shell, QP - hadn't given their dividend policy any thought tbh.

[kenmitch] 01/4/2020 14:55

Excellent posts sea green and I agree with every word of them too.

Thanks.

[albert zog] 01/4/2020 12:49

Thank you sea green for your very informative post. Great level of detail

[quepassa] 01/4/2020 12:34

well, I guess you had better take that up with the BoD of one of the largest companies in the UK, Royal Dutch Shell, who according to a report in today's FT (page 12) wishes to safeguard dividends. The article is headed " Shell moves to safeguard dividend via new $12bn credit facilty".

Whilst it is correct that the Bank of England may or may not have nudged the suspension of dividends by the major clearing banks in order for them to bolster capital ratios and therfore to be able to keep and increase lending to a weakened economy at a time of national economic crisis, this is very much a different case.

The other side of the coin is that if Shell were to suspend dividends it would have a big impact on many income funds for individuals, pensions and collective funds, at a time when many individuals are suffering a dramatic fall in paid income and relying more on savings and investment income from dividends.

Cenkos is not a lending bank and is not comparable to a Lloyds or to an HSBC. They are not a lender and are involved in fee-driven business.

Cenkos is not central to the liquidity of the nation like a clearing bank and to compare the two is to miss the point.


I would be interested to hear your views about Shell's apparent desire to continue paying dividends.

ALL IMO. DYOR.
QP

[trident5] 01/4/2020 12:10

QP - I'm not sure I agree w you about dividend deferral being negative right now. It's not a time for BoDs to be chucking cash around.

[quepassa] 01/4/2020 11:41

Anyone would think that you work for one of the many pr companies now used by various listed companies to influence bulletin board discussions!

They are normally quite easy to spot.

Either singing the praises like here or threatening and menacing in a style not dissimilar to your two vicious posts on the GCM thread yesterday.



By the way, if Cenkos defer the dividend, as a shareholder in Cenkos I would consider that a BIG NEGATIVE. And the market and other shareholders will likely think the same.

ALL IMO. DYOR.
QP

[speedsgh] 01/4/2020 08:56

Co-head of Corporate Finance at Cenkos, Nick Wells, has been appointed as a non-executive director at Tungsten Corporation (TUNG)...

[quepassa] 01/4/2020 05:15

Terribly scruffy behaviour. If Numis can do it, there is no excuse for Cenkos not to inform the market.

ALL IMO. DYOR.
QP

[seagreen] 31/3/2020 22:28

There are a few things going on in the world that are slightly more pressing and one of the advantages of Cenkos is they have a fraction of the staff of Numis....

Plus BofE putting pressure on banks not to pay dividends ...and firms who seek help...plus pressure on bonus payments....according to bbc

So they may have to rewrite any RNS...personally I think it sends a great message if no bonus and no dividends even though it would be harsh on Cenkos employees and market stupidly is short termist if they see no dividends. Frankly one should punch the air if you are a shaeholder.

To say it is scruffy behaiour is churlish and a tad self centered imho dyor nag

[quepassa] 31/3/2020 21:36

It was not enforced but perhaps strongly suggested.

Either way, are you suggesting that Cenkos didn't even have the time to send out the briefest of RNS's saying results were delayed until such and such a date...?

Even Numis had the good grace yesterday to update investors on a rescheduling of their results release timteable:

"Due to the ongoing COVID-19 situation and in view of recent regulatory communications regarding financial reporting, the announcement date of Numis' half year results for the six months ending 31 March 2020 will be confirmed in due course."


No, in my opinion this is just plain downright scruffy behaviour towards shareholders by Cenkos and reflects poorly on them.

ALL IMO. DYOR.
QP

[topvest] 31/3/2020 21:21

I'm not sure you are being fair. All listed companies had an FCA enforced audited results moratorium thrust on them last Monday because events were too fast moving to assess likely impact. This is known by all. It was probably not possible for Cenkos to release audited results to the original timescale, and so things are taking longer to finalise.

Obviously their pipeline will have taken a serious knock, albeit they had a good early start to 2020.

On the positive side, there is going to be some serious fundraising required in Q2 and Q3 this year when we start to come out of the other end of this mess!

[albert zog] 31/3/2020 21:04

New Cenkos Chairlady Lisa Gordon has also got big fish to fry with the implosion of Alpha FX

DYOR

[farview1] 31/3/2020 20:39

Completely agree, I thought they were smarter. Time will tell