Communisis Share Discussion Threads

[mount teide] 22/11/2017 15:33

Interesting, L2: 2 x 250k orders just been put on the bid

[mount teide] 20/11/2017 12:20

Highly encouraging news that star fund manager Richard Pease, one of the City's most successful small cap fund managers over the past 25 years - he ran the hugely successful Fidelity Special Situation Fund for nearly two decades - has elected to take a 12 million position at 63p, through his new vehicle Crux, which is wholly owned by the 17 staff.

[rivaldo] 20/11/2017 07:32

Featured on Citywire this morning:



"Communisis

Citywire A-rated European equity veteran Richard Pease has emerged with a chunky position in print marketing business Communisis (CMS) as its shares hit a two-year high, following a profit warning last year.

Pease increased his stake to 5.7% with a holding of 12 million shares worth £7.3 million at Friday’s close of 61p. The shares have rallied from a low of 34p in August last year but are still below their early 2014 peak of 75p.

Pease runs the £173 million Crux European and £1.9 billion Crux European Special Situations funds. The stake is held in a £100 million portfolio outsourced to him last month by investment company Witan.

Shares in Communisis have climbed 66% over the last 12 months, after the company spent 2016 grappling with a ballooning pensions deficit and paying down debt, which peaked at almost £40 million.

That has since fallen to £28.3 million and been restructured over a longer repayment period, while profit climbed 10% to £8.5 million in the first half. Analysts at Liberum rate Communisis a ‘buy’ on a price target of 74p."

[sharw] 17/11/2017 13:48

speedsgh - not quite - the RNS now gives holding as in previous notification (in this case 2/11) and not immediately prior to the triggering transaction. Hence he probably bought 332,777 shares between the 2nd and 15th in order to sell 12m.

[eggbaconandbubble] 17/11/2017 13:07

Does RG have any connection with Crux. Holding or board position?

[speedsgh] 17/11/2017 12:38

Fairly safe to say that the 12m shares acquired by CRUX Asset Management have indeed come from Richard Griffiths...

Holding(s) in Company -

An overview of the transaction...

RG's CMS holdings prior to 17/11 rns
Ordinary shares: 46,889,010
Spread bets: 6,332,816

RG's CMS holdings following 17/11 rns
Ordinary shares: 35,221,787
Spread bets: 6,466,532

Change in RG's CMS holdings
Ordinary shares: -11,667,223
Spread bets: +133,716

[zho] 17/11/2017 11:18

>>I wonder who sold the shares?>>

Presumably Richard Griffiths or Hendersons.

[harrogate] 17/11/2017 11:00

I wonder who sold the shares?

[masurenguy] 17/11/2017 10:58

I also agree too. However it is certainly a significant vote of confidence by Crux to make an initial investment of just over £7.5m as a completely new investor in CMS at this point in time.

Also interesting to note that on Nov 15, 2017, the investment aalyst covering Communisis was advising investors to purchase equity in the company with a 12 month price target of 74p in the next year.

[edmundshaw] 17/11/2017 09:59

Agree MT.

5.73% locked in illiquidity? Can be a double-edged sword, but basically good provided the company continues to perform well... repeat after me: "underpromise, overdeliver..."

[mount teide] 17/11/2017 09:47

Interesting new II Shareholder:

CRUX is a privately owned UK based fund management group managing long-only equity investments for investors.

'The philosophy of the investment team is unwavering. At CRUX Asset Management we firmly believe in the concept of time as our friend. We invest for the long-term, never swaying from our investment principles and standing by our convictions.'

'At the heart of our company lies our strongest core value of alignment. We align our investment aims with those of our clients by investing meaningful amounts of our own assets in our funds. All employees are offered equity in the company meaning that they share in the success of the business - we believe this to be a further testament to our commitment to our clients' best interests.'

[bootie64] 17/11/2017 09:36

So the above 5% chunk was bought by Crux, is this a larger slice in one day than normal i.e. Is this sort of stake normally built up over a longer period?

[owenski] 16/11/2017 08:56

Or maybe not quite

[owenski] 15/11/2017 17:13

12 month high broken and on volume. :-)

[boboty] 15/11/2017 17:12

Just seen some huge buys for this share that represents over 5% of the Company. Over 15Million bought which would usually take over a month of normal trading to do. If and this is a big if this is Griffith then he will be at or above 30% holding where he would be expected to make an offer (I believe) Last trade at 63p just after 4.30. Maybe we will see an rns tomorrow morning before the market opens. Just a thought

[thirty fifty twenty] 15/11/2017 17:11

I think we'll hear from news tomorrow or Friday.
it'll be interesting ....

[eggbaconandbubble] 15/11/2017 17:11

That was just me topping up!

I shall be back in the market doing the same again, tomorrow!!!!!!!!

[jtcod] 15/11/2017 17:07

I think that's the 3rd largest trading day over the last 23 years. ;-)

[masurenguy] 15/11/2017 16:48

Those two 12m trades account for circa 11.5% of the shares in issue. I wonder whether Richard Griffths has top sliced his holding to an institution in order to lock in some profit !

[jtcod] 15/11/2017 16:35

That's aggressive!

[mount teide] 15/11/2017 16:32

2 x 12m buys @63p at the bell !

[masurenguy] 15/11/2017 13:26

Looks like a lot of smaller retail trades today following yesterdays lager shareholder/institutional buys. So far there have been 89 trades today with an average volume of just over 8000 shares and circa £4800 in value. Should exceed a 1m share volume again today.

[mount teide] 15/11/2017 10:16

Shorters are layering the offer side of the book with 25,000, 50,000 and 100,000 fictitious 'orders' that just move up or disappear altogether as the best offer price is taken out.

Looks like an effort from the nervous to prevent the share price taking out the 62p last high.

Their concern should be that the overwhelming majority of heavy buying on this leg up has almost certainly been institutional.

[mount teide] 14/11/2017 20:56

'Three large trades today of 800K, 500K & 300K'

Could be the Chairman and our two Executive Directors finally electing to blow the cobwebs off their wallets!

The value of those trades combined is roughly what the three of them together trouser annually from CMS shareholders!

Puts their own shareholdings in stark perspective.