Centralnic Share Discussion Threads

[tradertrev] 22/12/2022 08:15

30% is the threshold above which a bid is mandatory.

[jeanesy] 22/12/2022 08:02

What is the cut off point of % of shares owned before they have to make a bid please ? i think i am right in saying that . Please correct me if im wrong .

[rivaldo] 22/12/2022 07:30

Good to se Kestrel continuing to buy at 143.5p - they now own 22.7% of CNIC:

[johndoe23] 21/12/2022 19:31

Kestrel increasing

[rivaldo] 21/12/2022 14:29

Even though they've now raised their forecasts. Edison's are still well below those of Zeus Capital's which are:

this year : 19.1c EPS
next year : 20.4c EPS

[rivaldo] 21/12/2022 12:06

New research note from Edison - they've increased their forecasts, which are now:

- this year to 31/12/22: 17.9c EPS, i.e 14.8p EPS
- next year to 31/12/23: 19.3c EPS, i.e 15.95p EPS

They also see CNIC with only $2.9m net debt at the end of next year - this just shows the nature of CNIC's cash-generating operations.

They say "the group still trades at a c 59% discount to peers on FY22 and FY23 EV/EBITDA multiples":

[mcdougall1] 19/12/2022 14:45

Going back a few years when organic growth was typically around 15 to 20%, I was concerned that we might be overly reliant on acquisitions to sustain the growth trajectory, which would also lead to additional debt and dilution.

Since two years ago organic growth has been steadily increasing, to the current circa 66%. Given this level of organic growth it is understandable why the company want to focus and build on this, which may have also been a factor behind the leadership change.

I think as accounting costs for past acquisitions and debt continue to fall away, the market will at some point suddenly wake up to this fast growing, highly cash generative business.

[doobz] 19/12/2022 14:36

Have said this before but am calling it again, once it breaks 150 it will bolt aggressively upwards

[weatherman] 19/12/2022 14:00

No more share dilution for a while is good for the IIs.

[robsy2] 19/12/2022 13:32

They turn down the tap to future growth and the share price flies up 10-15%. Beats me.

[boadicea] 19/12/2022 12:10

At twice the current price this would still (imo) look cheap in comparison to some other shares I hold or have held. Hence I have put some of the trimmings from the latter in here expecting an eventual realignment. Of course, it doesn't always work out that way! However, it is beginning to look more promising.

[rivaldo] 19/12/2022 11:53

Indeed - looking good.

Zeus currently forecast 19.c EPS for the year about to end, rising to 20.4c EPS next year, which should rise somewhat following today's acquisition and were anyway previously described as "conservative" by Zeus.

Even after today's rise, at 144.25p that's still a P/E of only 8.6.

[weatherman] 19/12/2022 11:24

Staging a chart breakout.

[oilinvestoral] 19/12/2022 11:10

Why would it be a nail in the coffin ??

[diesel] 19/12/2022 11:03

Quite a few 10k trades today, I wonder whether with that news out of the way they have commenced the share buyback programme?

[sportboyslima] 19/12/2022 07:48

It's prob less than the $5.4m - that includes cash consideration + assumed working capital liabilities. The latter may well be self financing. Prob never know the split.

[rimau1] 19/12/2022 07:42

Maybe this was the final nail in the coffin for our ex CEO! Clearly would have predated Riedl

[rivaldo] 19/12/2022 07:15

Terrific value acquisition and immediately earnings-enhancing - CNIC are paying just $5.2m cash for $1.4m EBITDA.

So quite a considerable addition to the bottom line for not very much consideration.

There's also a reiteration of the perhaps more City-friendly strategy of "a more balanced approach of returns to shareholders, deleverage and complementary bolt-on acquisitions".

[sportboyslima] 19/12/2022 07:07

Small bolt on acquisition. Not anything to move the needle of itself. https://www.londonstockexchange.com/news-article/CNIC/acquisition-announcement/15762951

[1watty] 17/12/2022 19:06

Thank you, boadicea, your remarks make sense to me.

[boadicea] 17/12/2022 11:58

JTC (Guernsey) Ltd. is a substantial billion pound quoted company specialising in Employer Solutions (benefit, reward schemes etc) which holds investments as trustee. I doubt that there is any particularly adverse implication of the disposal of about half of their holding on which they are probably showing a significant gain. It is possibly a case of rebalancing against becoming overweight. Their recently reported formation of a new risk assessment committee could be an influencing factor.

[1watty] 16/12/2022 18:33

Anyone any thoughts on the RNS Holding(s) in Company timed at 5.49 pm this Friday evening?

[rivaldo] 15/12/2022 13:34

Good to see Kestrel buying another 325,000 shares at almost 137p per share:



They now own 65.4m shares, or 22.7% of CNIC.

[nfs] 13/12/2022 10:45

Thanks Rivaldo, interesting and useful nugget