Share Name Share Symbol Market Type Share ISIN Share Description
Cenkos Securities Plc LSE:CNKS London Ordinary Share GB00B1FLHR07 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -1.37% 72.00 23,493 15:28:59
Bid Price Offer Price High Price Low Price Open Price
71.00 73.00 73.00 72.00 73.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 25.92 0.15 -0.20 41
Last Trade Time Trade Type Trade Size Trade Price Currency
15:55:23 O 300 71.50 GBX

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Cenkos Securities Investors    Cenkos Securities Takeover Rumours

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Date Time Title Posts
02/3/202119:37Cenkos - Racing to the top?3,702
11/7/201613:04*** Cenkos Securities ***3
31/3/201512:18CNKS Cenkos228
23/11/201408:31$CNKS.L – investing is never easy-
04/7/201110:59Cenkos Securities7

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Cenkos Securities Daily Update: Cenkos Securities Plc is listed in the General Financial sector of the London Stock Exchange with ticker CNKS. The last closing price for Cenkos Securities was 73p.
Cenkos Securities Plc has a 4 week average price of 60.50p and a 12 week average price of 50.50p.
The 1 year high share price is 79p while the 1 year low share price is currently 29.50p.
There are currently 56,694,783 shares in issue and the average daily traded volume is 121,312 shares. The market capitalisation of Cenkos Securities Plc is £40,820,243.76.
quepassa: Surprised and intrigued by the lengthy Weekend FT article and interview on Cenkos. In my view, Cenkos has historically been publicity shy and not prone to giving media reports and interviews. Cenkos know only too well the value and importance of priming the market with positive news and press announcements prior to launching IPO's and fund-raisings on behalf of their clients. One can but wonder to oneself if there is an agenda. In my opinion, if the FT interview isn't hanging a big "Open for Business/Come and Get us" sign over the Company, I don't know what it. A LOT has been going on with Cenkos in recent times:- New Chairman New Auditor New CEO announced (a trusted insider) New Sole Broker (in-house Cenkos Securities) New EBT buying programme (with mandate to make SIGNIFICANT purchases). The article depicts a strong and rising market characterised by: Anticipated sector consolidation The proliferation of SPACs Possible imminent easing of UK listing rules in a post-Brexit world Resurgence in IPO's The FT also writes:- " Durkin is confident that Cenkos is now in a position to prosper" and further quotes the outgoing CEO:- "We are very undervalued at the moment. The market is not assigning any real value to us-I think that's wrong". Wise words. And likely prophetic words. Combined with increasingly favourable market conditions and a lot of in-house corporate activity/spring-cleaning, this leaves Cenkos well placed to prosper and/or be on the receiving end of an approach/sector consolidation in my view. No wonder the EBT is trying to buy cheap stock. The stars are rapidly aligning for Cenkos and shareholders alike. At 72p offered, the share price has now jumped to a 24 month high and climbing. ALL IMO. DYOR. QP
martomarto: Hodges shares have been a big drag on share price in my opinion. What will happen to the Durkin holding c. 10 % when he goes? Looks like this could drag market sideways unless bigger investors can be attracted on a longer term basis? Dyor.
quepassa: A couple of days ago, one of Cenkos's clients, Landore Resources announced the successful completion of a £3.5million Fundraising where Cenkos acted as NOMAD and sole broker. Gross Proceeds £3.5m Plc and Transaction costs £600k Net £2.9m Not sure how much of the £600k goes to Cenkos but Cenkos do get the following "In consideration of Cenkos' services in connection with the Placing, the Company has agreed to allot and issue the Cenkos Warrants to Cenkos. Pursuant to the terms of the Warrant Instrument, the Cenkos Warrants are exercisable at a price of 45 pence per Ordinary Share at any time during the exercise period of two years following the date of the Company's annual general meeting." The number of warrants allotted to Cenkos is 700,000 exercisable at 45p versus current share price of 32p. ALL IMO. DYOR. QP
nigelmoat: Should get a Trading Update here shortly - last year 18th February. Confident it will read well which may explain the recent tick up in share price.
kenmitch: That’s good news. A few more, and decent dividend increase and considerable share price gain looking ever more likely. Let’s hope they get an increasing amount of new business. So much of the share price is still cash so it won’t take much for share price to rocket and perhaps a “results likely to be better (or better still significantly better) than expected” trading update to trigger the share price rise quite soon. Better to be in ahead of that than possibly chasing the share price after it?
quepassa: Numis share price today 325p to 327p. Bid-offer spread 0.6% Cenkos share price today 56p to 60p. Bid-offer spread 7.14% What a disgrace. ALL IMO. DYOR. QP
topvest: Yes, great news. Remember there will almost certainly be the continued placing programme as well now, as there will be demand and publicity. Maybe they were a week or so early on the timing. US$ 282m so far. That's material to H2. Share price - no change so far. Is everyone asleep. Well that's a surprise. You can never predict what share prices do!
speedsgh: Re today's AGM statement... "continues to win new clients and to raise funds for its clients." By my calcs a net gain of 3 new clients (2 if one includes unconfirmed loss of DGOC mandate) NEW CLIENTS (7) Davenport Resources (ASX:DAV) - CNKS appointed UK broker Getech Group (GTC) - CNKS appointed Nomad/sole broker (replace WH Ireland) Pelatro (PTRO) - CNKS appointed Nomad/sole broker (replace finnCap) Caribbean Investment Holdings Ltd (CIHL) - CNKS appointed Nomad/sole broker at IPO (no funds being raised on admission) InfraStrata (INFA) - CNKS appointed Nomad/sole broker (replace Allenby Capital as Nomad/joint broker; replace Arden Partners as joint broker) One Media IP Group (OMIP) - CNKS appointed sole broker (replace Panmure Gordon) NextEnergy Solar Fund Ltd (NESF) - CNKS appointed sole financial adviser/joint broker (alongside Shore Capital) LOST CLIENTS (4) Sativa Group (NEX: SATI) - CNKS replaced as corporate adviser by Peterhouse Capital Angling Direct (ANG) - CNKS replaced as Nomad/sole broker by N+1 Singer GCP Asset Backed Income Fund (GABI) - CNKS replaced as sole broker/financial adviser by Investec Bank Beeks Financial Cloud Group (BKS) - CNKS replaced as Nomad/sole broker by Canaccord Genuity * as per post 3447, looks like Cenkos may also have lost DGOC as a client upon their move up to the Main Market Are the new clients acquired of the same quality as the lost clients? "the Company's revenues in the first five months of this year are ahead of the same period for last year." The past 3 months has seen an abnormally high level of fundraising activity on the markets with many companies undertaking placings to bolster/shore up their balance sheets. Despite Cenkos revenues being ahead of the same 5-month period in 2019 (H1 figures below give context over a longer timeframe), the flurry of fundraisings seems to have largely passed Cenkos by. In such an environment I would be expecting Cenkos to not just outperform H1 2019 but H1 in several other years also. Time will tell. H1 REVENUE 2011: £25.1m 2012: £20.2m 2013: £20.0m 2014: £65.2m (AA IPO) 2015: £53.1m (BCA Marketplace IPO) 2016: £15.3m 2017: £29.2m 2018: £18.1m 2019: £10.6m
speedsgh: Hi QP. I am not qualified to make a qualitative comparison between WHI & CNKS. However the CNKS TU of 19/12 was backward-looking (and I am guessing largely as a result of the fees earned on the ESUR takeover which completed in Dec) whereas the WHI statement today is forward-looking so of potential relevance to all sector peers. AFAICT CNKS have been involved in just 2 fundraisings in Jan/Feb 2019: a £1.15m subscription for Personal Group (PGH) & a £21m placing/open offer for Kromek Group (KMK). Whilst 2 months does not make a year, it is interesting to compare Jan/Feb performance to recent years (based on fundraisings announced): Jan/Feb 2016: £270m Jan/Feb 2017: £163m Jan/Feb 2018: £54m Jan/Feb 2019: £22.15m Numis AGM Update on 5/2/19: "Since the start of the financial year [on 1/10/2018], UK equity indices have suffered material declines and the domestic political situation has significantly impacted investor sentiment in the UK. As a result the market backdrop has been particularly challenging for our corporate and institutional clients, which has ultimately impacted our trading performance in the first four months of the year... ... We have a good pipeline of opportunities, and would expect to see a meaningful increase in revenue, as and when there is greater clarity regarding the UK macro-economic and political landscape." All this would suggest that times are tough for the sector. AFAICS possible short-term drivers of CNKs share price: > Corporate action > Removal of Brexit uncertainty allowing UK plc to start investing again which would be beneficial for the sector AIMHO
speedsgh: Just some thinking out loud... Intriguing situation with Cenkos. Activist investor, Crystal Amber (CRS), notified Cenkos that it held 7.14% of the company in Feb 2018. No further update in their holding has been made since so one assumes they hold around the same level today (the Monthly NAV release for Dec 2018 on the CRS website actually shows them as owning 6.9% of Cenkos share capital). In their final results released on 7/9/18, Crystal Amber made the following comment: "The Fund has been a shareholder in Cenkos since late 2010 and increased its holding significantly during January 2018 at a share price which we believe ascribes little probability to the company being able to secure any further exceptionally large deals. Given the pressing need to deal with forthcoming retirement/succession issues relating to a number of Cenkos’s founders and the evident strategic interest in this sector (2017 takeover of Panmure Gordon and 2016 Kuwaiti investment in WH Ireland), we have now proposed to the board that it undertakes a strategic review of the company." Following this: CNKS rns dd 9/10/18 - CEO Anthony Hotson to stand down from the Board on 31/10/18 but remain an employee until 31/12/18. CNKS rns dd 31/10/18 - Anthony Hotson to remain an executive director & CEO until his successor has received FCA regulatory approval. CNKS rns dd 5/11/18 - Former CEO, Jim Durkin, to be appointed executive director & CEO upon receipt of regulatory approval; Antony Hotson to remain CEO in the interim. CNKS rns dd 12/12/18 - CFO Philip Anderson (appointed by Anthony Hotson in Jan 2018) to step down from the Board & leave Cenkos on 31/3/19. Anthony Hotson is still interim CEO today & regulatory approval of Jim Durkin remains outstanding. By way of comparison Anthony Hotson was announced as CEO on 5/7/17 subject to regulatory approval which was subsequently received less than a month later on 2/8/17. Regulatory approval of Jim Durkin's reappointment as CEO would therefore seem to be taking some time i.e. more than 3 months so far. I believe another poster has previously suggested that they have been unable to find evidence of Jim Durkin's application having been lodged with the FCA. If this is correct, what (if anything), does this indicate? Cenkos have lost their position as broker to no less than 10 clients since Aug 2018. AA (AA.), Michelmersh Brick Holdings (MBH), IG Design Group (IGR), Restore (RST), Comptoir Group (COM), Mercia Technologies (MERC), Science in Sport (SIS), Verseon Corporation (VSN), CML Microsystems (CML), Frontier IP Group (FIPP). Some of these would appear to be from the 'better quality' end of the Cenkos client portfolio. Over the same period Cenkos have independently acquired 3 new clients - Falcon Oil & Gas Ltd (FOG), Venture Life Group (VLG), Landore Resources Ltd (LND) - as well as the 12 Smith & Williamson clients upon completion of the acquisition of its Nomad & Corporate Broker business in Dec 2018. Clients acquired would appear to be lower quality than those lost. Crystal Amber "increased its holding significantly during January 2018 at a share price which we believe ascribes little probability to the company being able to secure any further exceptionally large deals." The share price in Jan 2018 was north of 100p so one would assume that they are not overly happy with the current share price. Having said that their stats as an activist investor would suggest that they have a plan in place & will be actively engaging with the Cenkos board in order to create longer term value so they may be less concerned over the share price in the short term. Whether the objectives/strategy of the Cenkos board aligns with those of Crystal Amber remains to be seen. Notwithstanding their involvement as adviser to esure Group (ESUR) in their £1.2bn takeover by Bain Capital (first announced in Aug 2018 & completed in Dec 2018), Cenkos fundraising activity would appear to have been pretty thin on the ground since Sept 2018. How much of this is company specific remains to be seen, although it is without doubt that the handling of the Brexit process by UK parliament, the uncertainty that this has created and consequent postponement of investment decisions by UK PLC has been unhelpful to the UK fundraising market in general. It will be interesting to note any commentary on Cenkos by Crystal Amber in their Interim Results which are scheduled to be released on or after 7/3/19.
Cenkos Securities share price data is direct from the London Stock Exchange
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