Share Name Share Symbol Market Type Share ISIN Share Description
Elektron Technology Plc LSE:EKT London Ordinary Share GB00B0C5RG72 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 53.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
53.00 54.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 33.70 4.60 2.10 25.5 100
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 53.50 GBX

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Date Time Title Posts
10/10/201909:45EKT - Looking Good!1,519
04/5/201809:13The Elektron Thread211
27/3/201720:34Elektron Technology PLC1,117
21/3/201718:55Ekt fit for the bin14
04/3/201718:13Elektron +30% in last 7 days79

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castleford tiger: My numbers suggest a share price based on approx. 60m shares and net cash of 15m of about 35p To sell 40,000 shares today = £22.000 to sell 26666 at tender 65p = £17333 and therefore the 13344 shares left should be worth at least £22000 ( current price) - £17333 cash received so 4667 pounds that's my calculation.
blackss: rar100 A few points 1/ The buyer is Equistonepe.....ever heard of them ? 2/ Management plan to repay most of the net £95 million to shareholders, but retain some 'to drive the future growth of Chuckit'. Interesting that nowhere in the 15 page circular do they tell you just how much they will keep and how much they will give back to shareholders ? 3/ At a share price of currently 55p, the current market cap of EKT post-announcement is £105 million. This exactly matches the gross consideration, so we can conclude that the market values the remaining business and KD's prospects of making a go of it, at ZERO, even though EKT has just bought Next for £10 million and it was supposed to be profitable ? 4/ The top three have inexplicably awarded themselves £7m of shareholders money while transferring responsibility for this too the remuneration committee who they know will pass this regardless i would imagine.
3800: The Board currently expects the tender offer price to be 65p per Ordinary Share (which the Independent Board, having consulted with N+1 Singer, the Company's nominated adviser, considers to represent a fair valuation for the Group). However, as the share price of the Company at the time of making of the offer cannot currently be known, the Board reserves the right to alter this price if the share price of the Company following Completion does not perform as currently expected or, following consultation with Shareholders, a different price would be in the best interests of Shareholders as a whole. Babbler the Board reserves the right to alter this price if the share price of the Company following Completion does not perform as currently expected This sentence extracted from the above paragraph in the RNS is probably why the share price isn't higher
johnwise: 15/05/2019 7:02am RNS Number : 0336Z Elektron Technology PLC Trading Update & Notice of Results Elektron Technology PLC Acquisition
gtibruce: Nico You would then have the choice of cashing in. What ever the final sale was, how do share holders get paid. Would the share price paid out be the same as in pence what was paid for the company. How is it all worked out? Or are shareholders informed well in advance before a sale takes place to decide on the share price they already hold?
tilly99: Oh yes forgot it was today!!Another court case!! LolAnyone have a view on Ekt share price?Up with events or a free bet on Checkit and Henson eye ?
tilly99: Kinder sold some Ruffer bought some Still think some mileage yet in EKT share price as the pound strengthening is a big positive
blackss: Read the LTIP blackss OK read it, please point out where it says these options are subject to any closed period ? New LTIP John Wilson and Andy Weatherstone will each receive awards equivalent to 5m and 2.5m Elektron Technology plc shares respectively. Each will only benefit to the extent that the share price exceeds 10 pence, and the awards will vest after the financial year 31 January 2019 (the Performance End Period) if the following performance hurdles are met: a) the consolidated cash balances exceed £8m after adding back any cash distributions paid to shareholders and deducting all consolidated Group financial liabilities and any net working capital liabilities per the audited accounts; and b) the share price (plus any cumulative cash distribution paid to shareholders before the Performance End Period) is (i) greater than 15 pence but less than 17.5 pence (in which case 75% of the allocation vests), (ii) greater than 17.5 pence but less than 20 pence (in which case 85% of the allocation vests), and (iii) greater than 20 pence (in which case 100% of the allocation vests). The share price for these purposes will be a 90-day volume weighted average measured from the date the audited accounts for the Performance End Period are announced. Vesting will be triggered earlier (irrespective of condition (a) above being met) if cumulative cash distributions have been made to shareholders before the end of the Performance End Period equal to the hurdles mentioned in (b) above (i.e. if there are cumulative cash distributions totalling 15p per share, then 75% of the award vests etc.). Awards will also vest early in the case of certain corporate transactions, including a takeover of the Company. The major differences between the NLTIP and old JSOP are as follows: · The participants in the NLTIP (unlike the JSOP) will have no voting rights in Elektron Technology plc until the awards vest and the participants receive Company shares. · Keith Daley will not participate and Andy Weatherstone will participate. The reverse was the case with the JSOP. · The NLTIP contains two vesting criteria (including a cash hurdle) whereas the JSOP was based on a single target price. · Under the NLTIP the participants will only benefit to the extent that the share price exceeds 10 pence (being a 90% increase in the share price at the date at the date the Annual Report was approved). Under the JSOP scheme, including the stock appreciation rights, the entire award was capable of vesting if a single target price of 17.8 pence (if adjusted to take account of the 2014 placing) was met. The awards will be structured under a tax-advantaged Employee Shareholder Shares (ESS) scheme where shares in Elektron Technology UK Limited (ETUK), a wholly owned subsidiary, will be issued to each of John Wilson and Andy Weatherstone. If the performance hurdles are met, the participants can put vested ETUK shares to the Company or Trustee for an amount determined by reference to the sum of (i) any cumulative cash distributions made by the Company to the Performance Period End plus (ii) the 90 day volume weighted Elektron Technology plc share price immediately prior to the date of exercise of the put less (iii) the 10p hurdle. Such amount can be paid in Company shares (or in cash if so determined by the Remuneration Committee). If the performance hurdles are not met the ETUK shares will be acquired by the Company at no cost. Any Company shares received by participants must be retained until 31 January 2021 (subject to an ability to sell sufficient Company shares to cover any tax liabilities arising from the award). The awards will be forfeited if the participant ceases employment before the end of the Performance End Period other than for agreed good leaver reasons. Malus and clawback provisions also apply. In the event of sale of all or substantially all of assets or 75% of the shares in the Company the awards will vest in full noting the participants will only benefit from any increase in value over 10 pence per share. Shareholders will be asked to approve the remuneration report in the Company's Annual Report at the forthcoming AGM. This vote is advisory and the Directors' entitlement to receive remuneration is not conditional on it. In the event that the advisory vote is not carried the Remuneration Committee will consult with shareholders before implementing any changes to Directors' remuneration.
tilly99: Simon I do feel that this year we will see some fireworksDaley knows that his time is up unless he pulls something out the bagShareholders aren't just going to pay for his lavish lifestyle of champagne and trips abroad without getting something back in terms of ekt share price gains
yoyoy: Elektron Technology Conclusion of Strategic Alternatives Process RNS Number : 1029K Elektron Technology PLC 20 June 2014 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, RUSSIA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL Elektron Technology plc ("Elektron" or the "Company" or the "Group") Conclusion of Strategic Alternatives Process Termination of Formal Sale Process and End of Offer Period Intention to Raise up to £3.5 million via a Placing and Open Offer Elektron Technology plc (AIM: EKT), the global technology group, announces the conclusion of the Strategic Alternatives Process previously announced on 7 April 2014 and that it is in advanced negotiations to raise up to £3.5 million via a placing and open offer. As part of the Strategic Alternatives Process, the Board received various approaches from third parties interested in making an offer or providing additional capital funding for the Company. The most attractive approach was an indicative offer which valued the Company's equity on an indicative basis at 10 pence per share. This indicative offer was received on 8 May 2014 and was subject to a period of further due diligence and there was no certainty that a firm offer would actually be made nor as to its terms. This approach included a precondition that certain specified shareholders holding in aggregate over 55 per cent. of the Company's issued share capital provided hard irrevocable undertakings to accept an offer made by the potential offeror at the level of 10p a share. John Kinder and Keith Daley, being two of the Company's major shareholders, holding in aggregate approximately 25.95* per cent. of the Company's issued share capital, confirmed in writing to the Company that they were not prepared to accept an offer at 10 pence per share nor to give hard irrevocable undertakings to accept such an offer. On 16 June 2014 the Company received a revision to the approach outlined above. This revised approach excluded any precondition in relation to the provision by John Kinder and Keith Daley of irrevocable undertakings to accept an offer at the level of 10 pence per share, but still required certain shareholders holding in aggregate over 32 per cent. of the Company's share capital to provide hard irrevocable undertakings to accept an offer at this price. In addition, as part of the preconditions of this revised approach the potential offeror would have needed to reach agreement with Messrs Kinder and Daley in respect of their own shareholdings. As part of the Strategic Alternatives Process, other potential proposals considered by the Board have included an equity fundraising to be supported by shareholders and/or third parties. The Board received expressions of interest in participating in a fundraising from several major shareholders including Keith Daley and John Kinder. In view of this, and the fact that Keith Daley and John Kinder, together with John Wilson, are part of a Concert Party, it was inappropriate for Keith Daley (Executive Chairman) and John Wilson (Chief Executive Offer) to participate in the decision-making process as to which course of action should be pursued. An Independent Committee of directors was, therefore, formed comprising Tony Harris and Ric Piper, both of whom are independent non-executive directors, and Andy Weatherstone, the Chief Financial Officer (the "Independent Committee"). The headroom on the Group's working capital facilities reduced significantly in the prior financial year and as at the Group's year end on 31 January 2014 the Group had headroom of £1.1 million. Whilst the Group has generated cash in the first quarter (to 30 April 2014) of the current financial year it has experienced some reduction in sales in May resulting in a fall in available headroom given the Group's principal source of working capital is an invoice discounting facility. The Group is currently operating on low levels of headroom. As a consequence of the fall in headroom and the Group's performance in the past year, the Group's principal lender, HSBC, and Elektron have entered into amended bank facilities. These amendments reset future covenant tests. In support of Elektron's current fundraising strategy, a new test has been introduced that will require the Group to maintain a minimum headroom of at least £1 million with effect from 30 June 2014. Failure to meet any of the covenants would technically give HSBC rights to step in and protect its position, at which time the Board will potentially have to consider options which may be destructive of shareholder value. Accordingly, the Independent Committee, mindful of the Group's financial position and the requirement of its banking arrangements and on the basis there could be no certainty that the conditions of the indicative approach referred to above could have been satisfied in the required timescale, if at all, has determined that an equity fundraising is the appropriate solution at this time. The Independent Committee has given consideration as to the best way to structure the proposed equity fundraising, having regard to, inter alia, current market conditions, the Company's near-term funding requirements, the level of the Company's share price and the importance of pre-emption rights to shareholders. After considering these factors, the Independent Committee has concluded that the most suitable option available to the Company and its shareholders as a whole is to structure the equity fundraising as (i) a placing (expected to be effected by way of a cashbox placing) and (ii) an open offer to shareholders with an excess application facility allowing existing shareholders to apply for further shares. The Company is in advanced negotiations to raise up to approximately £2.3 million (before expenses) through a placing with existing investors of new ordinary shares of 5 pence each (the "Placing Shares") at a price of 5 pence per Placing Share (the "Placing Price") (together the "Placing"). The Company also intends to raise up to a further approximately £1.2 million (before expenses) by way of an open offer of new ordinary shares of 5 pence each (the "Open Offer Shares") to existing shareholders at the Placing Price (the "Open Offer"). Existing shareholders would have the opportunity to participate by acquiring Open Offer Shares pro rata to their current holdings with the option of applying to subscribe for further shares under the excess application facility. To the extent that additional Open Offer Shares are not subscribed by existing Shareholders, investors including John Kinder and Keith Daley (among others) are expected to commit to subscribe for a certain number of these shares. If successful in its intention to raise the new funds, the Company intends to use the net proceeds of the Placing and Open Offer to reduce its borrowings with the bank, to fund working capital requirements and to invest in new product development and marketing. All indicative offers for the Company have now been rejected. The Board has decided to terminate the Strategic Alternatives Process, which includes a formal sale process under the City Code on Takeovers and Mergers ("City Code"), with immediate effect. Elektron has received confirmation from the participants involved in the formal sale process that they are no longer considering an offer for the Company. Therefore, the Company is no longer in an offer period under the City Code and accordingly, the requirement to make disclosures under Rule 8 of the City Code has now ceased. * Excludes Keith Daley's Joint Share Ownership Plan interest in shares held under the Elektron Technology 2012 Employee Benefit Trust. Including this further interest, John Kinder and Keith Daley are interested in aggregate in approximately 29.90 per cent. of the Company's issued share capital. For further information, please contact: Elektron Technology Keith Daley - Executive Chairman +44 (0)1223 371 000 John Wilson - CEO Andy Weatherstone - CFO
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