Share Name Share Symbol Market Type Share ISIN Share Description
Fulcrum Utility Services Ld LSE:FCRM London Ordinary Share KYG368851047 ORD 0.1P (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 5.10 65,925 08:00:00
Bid Price Offer Price High Price Low Price Open Price
5.00 5.20 5.10 5.10 5.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 47.05 -11.46 -4.60 20
Last Trade Time Trade Type Trade Size Trade Price Currency
13:13:16 O 44,855 5.00 GBX

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Date Time Title Posts
25/6/202208:57Fulcrum Utility Srvc (superb bet)1,723
10/1/202222:03Fulcrum on the cheap 2
16/7/201908:36Climb back10

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Fulcrum Utility Services... (FCRM) Most Recent Trades

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Fulcrum Utility Services... Daily Update: Fulcrum Utility Services Ld is listed in the Gas Water & Utilities sector of the London Stock Exchange with ticker FCRM. The last closing price for Fulcrum Utility Services... was 5.10p.
Fulcrum Utility Services Ld has a 4 week average price of 4.53p and a 12 week average price of 4.53p.
The 1 year high share price is 33p while the 1 year low share price is currently 4.53p.
There are currently 399,313,458 shares in issue and the average daily traded volume is 582,828 shares. The market capitalisation of Fulcrum Utility Services Ld is £20,364,986.36.
topvest: I would be worried about how cost inflation is impacting their gross margins, as I expect the contracts are fixed price. If each one is taking a year or so to deliver, then most of their gross margin is being lost. New management may also find issues leading to a very bad set of results and kitchen sinking. Best to await the results and buy then, not now, in my view.
phillyaboots: I think it's maybe one or more smaller holders selling out and the market for this share being very illiquid so the market makers drop the price. Today the today volume was less than £100k and it's down 8%Combined with recent market update of onerous e contract and increasing prices, also nothing happened yet with regards to the smart metering acquisition.
phillyaboots: Painful to watch, but must be getting interesting at this price. Recent director buy at 6.20 and market cap now less than the value of the fund raising 6 months ago
phillyaboots: The Company announces that Antony Collins, Chief Executive Officer, purchased 180,000 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 6.2p per share on 24 May 2022.Hopefully a sign of positive things to come
phillyaboots: Probably a sell looking at other trade prices around that time, however the MM seem willing to take any sells around this price and not offering much to buy.
p1nkfish: Like a few shares currently, price dropping on low volume as if sellers exhausted?? FCRM has its share of problems, as usual down to management as much as anything else.
p1nkfish: philya, From the latest TU - "utility assets, valued in excess of £36 million as at 31 March 2022 but from 30th Nov 2021 - "The total gross consideration receivable by Fulcrum is expected to be c.£49 million. £28.6 million has been received to-date, leaving c.£20 million to be received." If the £20M yet to be received is subtracted it suggests £16M of utility assets will remain with FCRM and the rest be cash converted over time. Given inflation have to wonder if FCRM would be better off keeping the £20M of domestic gas.
p1nkfish: Around 185.5M shares (45.5%) are outside the hands of Harwood and Bayford. The other main holders do not show up as 3%+ so there must be many, small. About 2.24M changed hands today for about a 22% fall in price. This is about 1.2% of the available 185.5M shares, about 0.56% of the total 399M shares. All this has occurred after the end of the 2021-2 tax year when many losses should have been booked. How much more selling likely after today? Probably substantial overhang as small holders exit on any price rise. On the positive side, when this turns around some of the more adventurous institutions could well join at 3%+. News due on acquisition that might be at an attractive price in this environment for a cash buyer.
p1nkfish: Why give income to the bank when large holders can offer the debt? Why optimise for profit when tax on profit due to rise to 25%? I think there is mileage in the idea the large equity holders lend to enable build out and control taxable profit by cost of debt, they gain interest income, they ignore share price appreciation for a while and they ultimately end up with a larger cash generative asset to sell on for capital gain in future whilst having taken interest income in the interim to help keep taxable profits down. Banks can swivel, tax man can wait. If this is correct then buying this for the long term makes sense, or as a quick sale on any bounce before it settles back down. I can't see Bayford and Harwood being too concerned about share price appreciation in the near term. Thoughts?
p1nkfish: Just some thoughts. A) obviously an attempt at buy and build in MAP and any buy and build is always risky. B) debt risk as they mention increasing it, *optimised", or something along those lines. See C). C) might optimised debt on cash generative assets be via a CLN (convertible loan notes) and big holders might love that. Revolving credit facility via bank, investment debt via CLN arrangement, "optimised". Optimised for whom? Debt holders get preferential treatment on any liquidation risk. Bayford & Harwood offering debt would give them income, some protection and equity upside over time - could take quite a while? Very optimised especially as rates are so low currently and there is cash waiting to be allocated. Tax on profit due to rise to 25% April 2023 onwards. Debt offered by large equity owners squares more than one circle. "optimised". D) for now share price appreciation might not be the main target of the large holders - interest income via offering debt might be. Think about that, especially if pis are locked out of offering debt. I don't think Bayford & Harwood are necessarily playing the same game with the same goal as ordinary pis. They have incentives that could be outside of near time equity value increases via share price. E) The other point is what about post, about, January 12th. The new shares hit the market and any upside will be limited as pis look to take some cash out on any increase. F) In fact upside might be limited until both the acquisitions are clarified (uncertainty) and the debt level and type made clear. Both are big unknowns. Just thoughts, dyor etc. Imho. Convertible loan notes make sense for the large holders and Harwood are clever. Whatever happens, debt is due to increase according to the rns release and I don't see why the bank should benefit.
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