Eleco Public Share Discussion Threads

[ansc] 07/5/2021 11:37

Market Manipulators still being defensive, their spread now 5p (122/127p).

[ansc] 05/5/2021 13:26

Has any other shareholder attempted to get attendance at tomorrow's virtual AGM, I've never before experienced such a palaver, you'd think you would trying to break-in to the Bank of England!? First I had to prove my name was on the share register then this morning I was informed I would need to provide a passport photograph to the registrars prior to the meeting to prove I wasn't an impostor! Ridiculous.

Needless to say that request was politely declined having been a company shareholder for just over 21 years without any such questions being asked. Under this management, can't see myself remaining a shareholder much longer.

[smithie6] 30/4/2021 15:18

(99 .9 cases out of 100
rather than 9/10, imo

I don't think I can recall ever seeing any UK RNS for a dir. buying shares that includes promotional text for the company

or for the chairperson !! :-0

The general idea of regulation is imo that companies are not allowed to promote their shares but should merely report the financial & other news & the market then considers the data & news & buyers/sellers then decide what they see as a fair price for that data & news.

And that any promotion is done by PR agencies etc, tipsters, press & that investors know that agencies are normally being paid to promote the shares as a buy, so investors treat the promo views accordingly.

[bowerdean] 30/4/2021 15:10

As a holder, I’m happy that they’re going up so am not complaining, just surprised.
I actually thought the director’s bullish statement issued at the same time as his purchase was announced was also surprising; in at least 9 times out of 10 cases, a director’s sale or purchase of shares is announced with no reason or explanation given. Here we have not only a positive statement explaining why Mr Craig carried out the purchase but hardly has the ink had time to dry on his contract note when we have the company announcing a positive trading update. Glad I’m not a market maker in Eleco!

[ansc] 30/4/2021 14:35

That exact question, regarding the rules governing directors buying shares in their own company, struck me too. I'm not as 'au fait' with Aim Rules and Regulations as I used to be but am fairly certain that once directors are made aware of any price sensitive information (i.e. a trading update) they are not permitted to deal within two months of the information being announced. In this instance, his shares were bought a mere two/three days before the announcement so obviously this guideline has been breached. But how does one complain and to whom?

[smithie6] 30/4/2021 14:25

indeed !

------

( & what is Smithie6 buying recently
instead of ELCO ?
something simply FAB ! je je
& up 15% so far today !)

[bowerdean] 30/4/2021 13:29

Encouraging update but very surprised that a non exec director was allowed to buy shares only 2 days ago!

[ansc] 30/4/2021 10:07

The Market Manipulators marking the share price up sharply but so far very few shares traded, just 28k when I last looked so care needed. When a share price goes up rapidly all too often it can fall even faster.

The AGM is next Thursday, management doing their utmost to survive!

[chrisdgb] 30/4/2021 08:17

150p here we come.............

[edmonda] 30/4/2021 07:48

Reads very nicely : revs +9%, PBT +21%, very cash generative (£7.9m net cash at end March)
Exec Chair says 'well on track' to match mkt expectations for FY, with a 'compelling' market opportunity

[brummy_git] 30/4/2021 07:38

Terrific update from Buildtech software developer Elecosoft today.

All the news & commentary here

www.linkedin.com/posts/paul-hill-a5994116_elco-covid-activity-6793784441954213888-qewF

[thelongandtheshortandthetall] 30/4/2021 07:26

We can safely that is a positive trading updade.
I was a little surprised to see SL wrote the comment.
Who is the boss? No.1?

But great update.
20% rise in profits for every 10% rise in revenue going forward would do me nicely 😊

[ansc] 29/4/2021 09:57

Unable to get an online quote to buy ANY this morning but Market Manipulators willing to take 10k off me at 115p ... perish the thought!

Something afoot?

[petewy] 28/4/2021 19:58

This non-confidence happened about a year go with some tipster who slammed Elco.
Now internal bickering so I cut my holding in half(bought in at 44p moved to SYS)

[ansc] 28/4/2021 18:41

At close of play, other than Mr Craig fighting to save his skin (directorship), it looks like 'much ado about nothing'. The Market Manipulators managed to make a few extra quid, of course.

[ansc] 28/4/2021 12:36

Market Manipulators haven't a clue of what's going on so have resorted to their usual defence tactic of widening their spread ..... I'm as much in the dark as they are!

[smithie6] 28/4/2021 09:42

ah
& ignoring the options & bad perf. of the chairman of the renumeration committee

the 2 big shareholders clearly are not impressed by S.Lang otherwise they wouldn't have called for a vote to de-elect her.

------

personally I'm 99% sure that SL & KC will either step down before the vote or be voted out

& be replaced by ppl with good/solid experience that can be useful to ELCO; I don't see that neither SL or KC have much experience/skills in
- being a chairperson of a listed software co. (for SL) (was she on the bod because Kettley knew her ??)

- being chairman of a renumeration committee, the options awarded have been very badly thought out imo, ok, not thought out at all (for KC)


------

options
personally I would like to see listed cos have to comply with rules. There appears to be advice in existence (usually ignored) but the only rule appears to be phps a max. % of the co. in 5 years & <10 % in 10 years; & that 'rule' gets broken.

imo options should require
- shortest time for exercising, 3 years in the future, (broken for SL)(to encourage medium term decisions/growth with solid foundations which is what big shareholders need; they can't sell say 10% of a co. on a spike for winning 1 contract)

- must then hold the shares for X time after exercising, or can only sell half in 1 year or something.

- must buy/hold shares equal to the options they have, or 50% or something.
(if an exec. dir. owns 0 shares but lots of options he might direct his decisions so he makes money from those options ( high debt, high gearing, = high risk) rather than making 'solid' decisions.

- options can often have a function to help retain key staff, without having a monthly cash cost to the co. & options should include conditions for that. ie. if you leave you leave your options behind.
SL being able to immediately exercise options breaks various principles for options imo

=====

I don't claim to be an options expert but the raft of new options issued (& with very lax unusual exercising conditions incl. immediate exercising & a) to e) perf. targets !!, meet any of them, not all of them !) that have been issued & the 4 RNSs since 1st June 2020 for exercising of options makes me think that things have been out of control.
& the responsables are K.Craig & S.Lang. ( the 2 big shareholders seem to have similar views & immediately called this meeting after the annual report being published)

so, imo they should walk. :-)

======

I have no shares, but I have in the past.

[gilesy] 28/4/2021 09:15

usual snouts in trough disclosures in annual report
only founder director should get share options , employee directors should get a salary and performance based bonus only
pigs might fly ........

[thelongandtheshortandthetall] 28/4/2021 08:59

Could be a coup.
JH ousting SL lol

[smithie6] 28/4/2021 08:52

btw

imo the 2 big shareholders that called the special meeting are imo clearly very annoyed/upset about this

it looks like it took them just a handful of days after reading the accounts that they call for a vote to phps remove the highest exec. of the company !!!! who has only been in the job for a short time

& the chairman of the renumeration committee, the person behind the flood of options being given to the exec. chair & with unusually favourable exercise conditions ("a,b ,c ,d &.....e" !!).

[illiswilgig] 28/4/2021 07:28

Well thats interesting!

An RNS this morning as Mr Craig buys 90,000 shares for around 100k.

Very defensive? And accompanied by a statement of his demonstration of his confidence in the company prospects.

Good that he's bought them eventually. Inexplicable that he should not have wanted to demonstrate his belief when the shares were lower in price and even better value?

cheers

[smithie6] 27/4/2021 18:48

there have been 4 RNSs since 1st June 2020 for

Exercising of options

& the 2 big shareholders who have put forward resolutions for voting might rightly feel that too many new shares are being given out or printed due to options being exercised, &/or with useless performance targets & that might be one of the reasons for them calling the special shareholder meeting.