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Share Name Share Symbol Market Type Share ISIN Share Description
Ensor Holdings LSE:ESR London Ordinary Share GB0003186409 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 55.50p 0 05:00:01
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 19.17 2.82 10.80 5.1 16.6

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Ensor (ESR) Discussions and Chat

Ensor Forums and Chat

Date Time Title Posts
05/6/201816:16ENSOR - PE of 8 and Growing Profits. Strong Balance Sheet74
22/12/200318:32Change of direction could mean it's time to buy this unknown12
09/1/200212:17It's outrageous !!10

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Ensor (ESR) Top Chat Posts

tiswas: Well done everyone on bringing this to a conclusion, albeit a rather unsatisfactory one. I just reread ST's valuation of "at least 125p per share", it is in post 417 if anyone is interested. Looks like we will end up with less than half of that at a price that is lower than the share price before they commenced the strategic review to out value for shareholders nearly two years ago. Sigh!
carcosa: With an offer for Ellards already underway and an offer has received from the Harrison family for Wood's then you have to ask yourself just how much of a saving will be realised by delisting the company? The implication is that there will be a long time between delisting and final sale (if ever) But that is the problem though. They have not actually said it is a cost saving exercise. "The de-listing will improve our flexibility to complete the realisation process and reduce delay." If its such a good move then why isn't it standard practice for when other companies are wound up? And this business about "under the AIM Rules it will be required to prepare and publish a circular to Shareholders and seek Shareholder approval, which will bring delay and uncertainty to the transaction and additional costs payable to our advisers." The only uncertainty to the transaction would be if the final disposals are so blatantly cheap to be scandalous. That is highly unlikely to happen though; so this argument is hogwash. It could all go smoothly and a profit from the current share price is possible; but unless that profit was likely to be 100% upside then I don't think the risk of ultimately being shafted is worth being an investor at this point in time. FWIW I believe a realisation price of ~62p/share is likely if management do the right thing. Carcosa
pavey ark: harrogate, I suspect you may be correct as my information came second hand over the phone. In fairness to my broker they did want to pass me on to Corporate Actions to clarify and go over the particular case but as my share are not presently in my SIPP the easiest and cheapest route for me is to just let them send me a share certificate. As I have capital gains allowance to spare there are no tax implications and when the company is sold I'll just deal with their broker directly. On a broader note; we are where we are and unless you think that the major shareholders are going to stuff their saddle bags with the loot and ride into the sunset (in which case you should certainly sell) then a little run through the most recent accounts will show that we are getting close to a share price that gives almost no value to the two remaining units. This is just my view of the current situation and I wouldn't like to get into any sort of an argument over this. I have increased my holdings and have an average of 64p and I am hopeful of turning a reasonable profit here. On a risk/reward this look like a reasonable punt.
jaf111: This just gets better and better.....yet again this is all about maximising shareholder value - and how rewarding to see the share price chart since this process was all announced....yes the shares have doubled in price.....or am I reading the chart upside down and the share price has halved!!!! Unbelievable
tiswas: Gengulphus Thanks for the comprehensive response. I accept everything that you write but sadly it just goes to emphasise what a pig's ear the directors have made of this entire process. A sales process that has lasted more than 15 months with two core businesses still not sold. A share price below where it was when they started to out shareholder value. No apparent plan as to how they are going to distribute the cash received to date to shareholders in a tax efficient manner. (Not a problem to those of us with smaller shareholdings within an ISA) So, anyone care to guess how long N months is?
carcosa: "It's fair to say that we have reaped hefty gains from takeover situations in the past 18 months ('On the acquisition trail', 4 Jul 2016). Indeed, no fewer than 12 of the companies on my watchlist have exited the stock market since the start of last year and at a 50 per cent-plus average premium to my advised buy-in prices. However, it's not a one-way bet as the case of Ensor (ESR:73p), a Manchester-based company focused on the manufacturing and supply of physical security products and packaging, highlights." Am not a subscriber but from the gist of the initial paragraph and todays share price action I assume he has changed his mind regarding the valuation?
carcosa: Shanklin: Just short of 25k Averaged a sale price of 67.5p and an overall loss Sorry once again for the share price action but at least you guys can largely attribute to me; and I made a mistake. I had a negative expectation because of the planned delay in releasing the prelims and rapidly scanned reading the prelims I homed in on a phrase that confirmed my self-bias. Personally management could have been considerably more transparent on total valuation at the end of the process but trawling through these prelims I'm of the opinion that the ultimate base valuation is around 75p acknowledging that is quite some way off the 100-115p/share that has been mentioned on these boards. I hope I am wrong (again!). I do, however, think that the final realisation could be quite a few months aways. FWIW my valuation is largely based on a multiple of the profits of the remaining businesses as detailed at Companies House; albeit this year's accounts are not available as yet. Was pleasing to see they got the pension issue resolved at the lower end of their initial estimate. Should the share price fall back a tad then I'll be tempted to buy back in, if there is a subsequent tip in the press regarding the company that sends the share price above 75-80p then I'll probably sell at that level.
carcosa: I suppose until ESR issue an RNS then there is an opportunity to buy or sell your current shares depending on whether you believe this is positive/negative/neutral for the share price. Sorta insider trading lol!
jaf111: Well the original breakup announcement was May 2015.....this process is certainly taking longer than I expected...... Share price has risen today but is pretty minor when say looking at the one year chart......and go back a few months when people were talking about 115 to 125p return. The crux (and I am not sure of the answer) is whether they are getting good prices.....with the share price still well below the 115p it seems that either they are not, or the market has got it very wrong. With a small stake in ESR I hope it is the latter!
carcosa: 'Finally'...'Muted'? Not how I would describe the situation. Today's announcement is on top of a couple of freehold sales and now we have the second subsidiary sold. Currently a 7-8% increase in the share price. All in all ESR appear to be getting good prices for all of their sales to date.
Ensor share price data is direct from the London Stock Exchange
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