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CMS Communisis

70.80
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Communisis LSE:CMS London Ordinary Share GB0006683238 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 70.80 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
70.80 71.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 70.80 GBX

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Posted at 29/11/2018 00:15 by masurenguy
28 November 2018
Recommended Cash Acquisition of Communisis PLC by OSG Bidco Limited

Results of Court Meeting and General Meeting

On 23 October 2018, the boards of Communisis PLC ("CMS") and OSG Bidco Limited ("Bidco"), a wholly-owned indirect subsidiary of OSG, announced that they had reached agreement on the terms of a recommended cash acquisition by which the entire issued and to be issued ordinary share capital of CMS will be acquired by OSG Bidco Limited (the "Acquisition"). The Acquisition is to be effected by means of a Court approved scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). CMS announces that the Court Meeting to consider the Scheme and the General Meeting to consider the Special Resolution relating to the Acquisition were each held today and all resolutions were approved by the requisite majorities.

Next steps and timetable

The Scheme remains subject to the sanction by the Court at the Court Hearing and the satisfaction (or, where applicable, the waiver) of the other Conditions to the Scheme (as set out in the Scheme Document). Subject to the Scheme receiving the sanction of the Court, the filing of the Court Order with the Registrar of Companies and the satisfaction or, where applicable, the waiver of the other Conditions, the Scheme is expected to become effective in the fourth quarter of 2018.
Posted at 06/11/2018 20:14 by adascogne
Joe not sure if you saw this or if you are still interested in CTP. Apologies for posting on CMS thread, however didn't think people would mind as CMS all but done and dusted

hxxps://www.piworld.co.uk/2018/11/06/castleton-technology-ctp-h1-results-november-2018/
Posted at 23/10/2018 19:56 by thorpematt
I thought the premium was a tidy one... but of course had the bid been 3 months earlier there would be no premium at all!

I am a fairly recent buyer here, so much so that I had not as yet taken what I call a full position (I had built 50% of my usual holding), and so I cannot complain at my "premium" BUT I do rather feel that this offer has been nicely timed to take advantage of a short-erm lull in the share price

Again I cannot complain since ultimately I have tried to time my buy in the same manner.....it's just that I cannot help feel that a predator with a long view might very well concur that the price here is still a bit of a bargain.
Posted at 23/10/2018 14:28 by davidosh
Well now I know the likely reason why Communisis were not keen to come and present to hundreds of investors at our #MelloLondon event ( ) next month even though the share price was so low and they have exhibited and presented before.

It is always difficult keeping all investors happy but as a long term holder who bought alongside many others when JTCod was writing up his thoughts on the company in 2009 one cannot complain.

For those now looking for a new home for your money you will have a selection of 60 companies in the small to mid cap space to come and research at the event so why not come along....here is a list of the first 25 or so....
Posted at 23/10/2018 08:08 by isis
Wouldn't call it a great deal as share price has been higher - but beggars can't be choosers and market hasn't been too good for awhile.
CMS is in a great position growing Internationally so should do well. :))
Posted at 23/10/2018 07:26 by owenski
Cheap take out price for a serial poor share price performance from Blundell
Posted at 23/10/2018 06:12 by baticle
Wasn't expecting that !, not the most generous offer I've seen but a predator has pounced taking advantage of the depressed share price basicly offering the years high price of 71p
Posted at 27/7/2018 09:12 by mount teide
Mas - the share price performance of CMS since March 2013 is much worse than slightly less than half the FTSE 250.

While CMS did make a huge placing at 40p in March 2013, at no point during the whole of March 2013 did the share price fall below 51p - it in fact went on to stay above that level until Sept 2015, when it became apparent that the lloyds contract was not performing anywhere near expected, likewise most of the acquisitions.

So it could be argued that compared to the FTSE 250 CMS has under-perfromed by more than 50% since 2013, since it has made NO progress whatsoever!

Over the last half decade or so CMS has spent circa £50m buying digital businesses which in all the cases seem have done well ONLY for the original owners of those businesses as a result of the inflated prices paid - LIFE being an obvious example.

During this period every senior CMS executive has either left or paid for the very poor performance of CMS since the huge Lloyd's placing by being pushed out by Blundell - including the excellent executive who built up the international expansion of the business over the last 5 years.

Yet, THE ONE INDIVIDUAL WHO HAS OVERALL RESPONSIBILITY FOR MAKING THE ACQUISITIONS AND THE OPERATIONAL AND FINANCIAL PERFORMANCE OF THE COMPANY REMAINS IN OFFICE.


The new MD at SIV over the last 2 years has completely turned around its fortunes from what looked like a near hopeless position and delivered a 150%+ improvement in valuation from the lows. Blundell refusing to take personal responsibility for the many mistakes made over the last 5 years was the principal reason i sold out completely at circa 60p last year. I've seen nothing since from CMS to review that decision.

When it comes to dividend income there has been much better places to invest over the last 2-3 years - Shell's share price bottomed out with the oil price in Q1/2016 and since has paid 7%+ dividends while generating capital growth of over 100% as the oil price recovered.

AIMHO/DYOR
Posted at 27/7/2018 08:23 by masurenguy
Thanks for that interesting input JT. It will be very interesting to see the interims that are due to be announced next Thursday (August 2nd).

March 8th Results Statement

"Communisis is at an exciting stage in its development with a bedrock of solid performance and deep client relationships to build upon. The growth strategy for the next phase is highly focused and we already have clear evidence of the themes of Digital First, Global Reach and Empowered Organisation, resonating in our key markets. The Board is looking forward to another positive year for the Group." Andy Blundell, CEO

"Communisis remains committed to delivering enhanced returns to its shareholders. The announcement today of our three year VEP is a new expression of that commitment. Alongside investing capital in pursuit of that growth, we will continue to ensure that a strong dividend remains a key component of our total shareholder returns policy." David Gilbertson, Chairman

May 10th AGM statement

"The Board confirms that trading expectations for FY2018 are unchanged and Communisis is progressing its growth strategy known as the Value Enhancement Programme (VEP)." David Gilbertson

I think that we need to see confirmation of delivery against some of the above outlook statements in order to reignite an upward trajectory in the shareprice. There needs to be a catalyst since a 26% increase in the shareprice over the past 5 years is not only very disappointing but also slightly less than half the FTSE 250 increase, which is up by 54% since March 2013, which was when the last CMS placing at 40p occurred.

I also think that Otus Capital Management will be looking for some positive reassurance too, since acquiring 12.8m shares earlier this year at an average price circa 62p, as they must be nearly 20% underwater at the moment.

I must admit that I look at CMS more as an income share these days rather than a capital growth investment since it is yielding me circa 7.5% against my acquisition cost. As previously noted here I sold 50% of my long term holding @ 60.5p in early December so this is now my 3rd largest holding.
Posted at 27/7/2018 07:31 by jtcod
It is the former Nick not the latter. CMS is responsible for customer communications ‘in their entirety’ for a significant part of their revenue stream. Also because there is a saving for the client/company in having customers go digital, CMS is compensated under the contract for their success in switching customers. The contract could be looked at as more of a partnership this way. Both benefit in the move to digital.
The ‘entirety of communications’; business offering sounds like an obvious sales strategy but one of the lesser recognised aspects of CMS business offering is that over the last decade UK financial services has seen legislation become a burden and liability for small financial bodies which do not have sufficient resources to manage the issue. Many simply wanted an all encompassing solution (such as that offered by CMS) to which they could hand over responsibility safe in the knowledge that documentation will follow current rules. These contracts are not of the size that would trigger an RNS but there are lots of them nonetheless.
Communisis share price data is direct from the London Stock Exchange

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