Greatfleet Share Discussion Threads

[gardenboy] 12/3/2007 08:10

institutions happy to pay 14p to boost the company,

Placing to raise #2.52 million

Greatfleet plc (AIM:GFG), the specialist recruitment company, announces that it
has conditionally raised #2.52 million (before expenses) by way of a placing of
18,000,000 new ordinary shares of 2p each (the "Placing Shares") at 14p per
Placing Share (the "Placing Price") with institutional and other investors (the
"Placing").

The net proceeds of the Placing will be used by the Company to:

* Strengthen the Company's balance sheet;

* For general working capital purposes;

* To grow the Company's legal recruitment business; and

* To take advantage of overseas opportunities, particularly in certain
emerging markets.

The Placing Shares, which will represent 24.2 per cent of the Company's issued
share capital immediately following the Placing, have been placed with
institutional and other investors by Noble & Company Limited at the Placing
Price which represents a discount of 8.2 per cent. to the mid-market closing
price of 15.25p on 9 March 2007.

Application will be made to the London Stock Exchange for the Placing Shares to
be admitted to trading on AIM ("Admission") and it is expected that Admission
will become effective and that dealings in the Placing Shares will commence at
8.00 a.m. on Friday, 16 March 2007.

The Placing is conditional, inter alia, upon Admission. The Placing Shares will,
when issued and fully paid, rank pari passu in all respects with the existing
ordinary shares of the Company.

Following completion of the Placing, Greatfleet will have 74,304,721 ordinary
shares in issue.

The Board also announces that, further to the announcement of 1 February 2007,
trading continues to be in line with its expectations and, in respect of the
current year, the Board is confident about the Company's prospects and the
markets in which it operates

Stuart Blake, Chief Executive Officer of Greatfleet, said: "We are extremely
happy with the institutional support for the Placing that will widen our current
shareholder base. The positive impact on the balance sheet and the increased
working capital will enable the Company to be more flexible when future
opportunities arise. I believe this Placing puts Greatfleet in a stronger
position to continue growing the Company."

[callumross] 23/2/2007 13:23

aren't MM's wonderful - someone buys 50k at 16.5p which you would think would push up the price and 8 minutes later they cut the bid price and widen the spread to kill any further interest and just as a warning to us all not to buy more!

[gardenboy] 11/2/2007 23:06

Ged,

M/c ?

Hertfordshire.

gb

[ged5] 11/2/2007 21:29

Thanks sterile,

This just came up on one of my searches and the figures all looked good. That was until I looked up the cashflow which seems to be increasingly negative.

Good thread by the way gardenboy. Not from the M/c region are you?

[callumross] 07/2/2007 11:18

now 5 MM's in the stock- an extra one joined today - there were only 3 at start of year so that bodes well for improved liquidity

[Abuse team] 07/2/2007 09:52

Post removed by ADVFN

[sterile] 07/2/2007 08:41

new watcher of this company. can anyone point me in the direction of cashflow information given the company's exposure to the contract hire market?

[callumross] 01/2/2007 08:30

nice reassuring trading statement released - surprised the price hasn't ticked up yet

[tobywilliamson] 19/1/2007 17:09

Thanks Callum - could do with a doubling or tripling from this level!

[callumross] 19/1/2007 16:46

Finals for the year to 30th December are next results due and should be published in March or early April Toby - that is when I hope the market price will be substantially rerated as the extent of the turnaround in the company's fortunes is demonstrated.

[tobywilliamson] 19/1/2007 14:59

when are the next set of results out that will move the price?

[gardenboy] 10/1/2007 16:43

callum,

interesting, thanks.

[callumross] 10/1/2007 12:17

I'm very happy to hold onto this one gardenboy - we could see a substantial rerating in the coming months once the finals are reported in March/April. The rise could be sharp too as I think there must be a stock shortage as I topped up with another 10k shares in November and haven't yet got the share certificate despite my broker chasing up the market on three occasions.

[gardenboy] 10/1/2007 11:36

hmmm..... and someone grabs a few more

recent research added to header,

[gardenboy] 10/1/2007 08:51

anybody own up to buying a few yesterday ?

[ribton] 13/11/2006 09:48

Gardenboy, your welcome.

[gardenboy] 13/11/2006 08:54

ribton,

nice write up - thanks for that - link in header

[ribton] 13/11/2006 08:42

and here's the article,

[ribton] 13/11/2006 08:41

Ok this is why i like them.

- Turnover increased 334% to £5.4 million
- Gross profits were up robustly by 325% to £3.1 million
- Adjusted operating profit, which in the previous period was in the red to the tune of £1.3 million, was now back in the black at £0.3 million
- New management with large personal stakes in the company
- Clear signs of a recovery already evident
- Stronger balance sheet

[ribton] 12/11/2006 11:47

Thank you gardenboy,

I hope to be able to contribute a worth while read tomorrow. Watch this space.

[callumross] 12/11/2006 11:22

nice find gardenboy

[gardenboy] 11/11/2006 20:01

ribton,

Hi - link below to some useful info on the turnaround going on in this company if you are interested,

[ribton] 11/11/2006 11:14

Only just started to take a look at this company, was pointed out to me by a friend. Prospects look very interesting, could be a great recovery play.

2007 looking to be a srong financial year. GFG could be well position to benefit from this.Really like the fact that the management hold 47% and they've just turned profitable.

I watch with interest.