Kinovo Share Discussion Threads

[patsc100] 26/9/2023 10:24

A friend of mine spotted another framework win - NHMF frameworx Heating Service Framework.

This is worth 600m and divided among 16 contractors. An equal distribution would imply 37.5m in revenue over a period of 4 years or 9.375m per annum. At 10% EBITDA-Margin, this would imply another 937,5k EBITDA over the next 4 year.

If we take into account the current frameworks, we've already secured a potential of 2m in additional EBITDA.

This is just this year alone. Spokemead is the contractor who won another framework.

[qs99] 26/9/2023 07:53

Good spot dyor2

as you say, a good message to the market without going mad! Trading Update is key to next moves.....IMO! DYOR

[dyor2] 25/9/2023 09:47

The purchases by the CEO and COO of £10,000 worth of shares each are not particularly significant in terms of size, but are clearly intended as a signal of confidence. But it’s particularly interesting to see the purchase of £25,000 worth of shares by Neil Rooney, the MD of Kinovo’s subsidiary Spokemead. Spokemead is a business which is still run by the founding Rooney family and is the principal contractor for electrical installation, repairs and maintenance to London’s largest borough. Mr Rooney has no particular need to send signals to the market, so his purchase now is interesting.

[qs99] 25/9/2023 07:43

All helps and still shows confidence IMO....DYOR

[fft] 25/9/2023 07:33

Interesting, if not exciting, set of director buys.

[barnesian] 20/9/2023 10:08

fft Many thanks

"Kinovo Plc (AIM: KINO), the specialist property services group that delivers compliance and sustainability solutions, is pleased to confirm that it has completed the renewal of its banking facilities with its partner, HSBC UK Bank plc."

It wasn't a big risk but it is good to tick it off. Now those two projects ....

[fft] 20/9/2023 09:58

Ibond,Maybe you should ask Tim Scott that ? I don't think that kino can speak on his behalf :-)))

[fft] 20/9/2023 09:57

Barnesian.Banking facilities. Check out RNS 5th September.

[barnesian] 20/9/2023 09:52

"Seven of the nine projects have reached agreements on contract terms and are expected to be completed by the end of the current financial year. Constructive dialogue is ongoing to agree contracts regarding the other two."

We need an update on the "constructive dialogue". Is it still constructive? Have they been resolved? I'm happy with the seven projects that are proceeding apace even if they run a bit over budget. We just need the other two projects put to bed.

"The Board is currently in constructive discussions regarding the continuation of the overdraft facilities due for renewal in August 2023. HSBC UK Bank Plc remain supportive and the Group has received written notification that the bank is progressing toward the approval of the renewal of these facilities. However, documentation is yet to be completed at the date of signing these financial statements."

We need an update on the overdraft facility. Has it been approved? I assume it has.

This is an interesting share. A lot of upside. But a fair amount of risk.

I assume Tim Scott will continue to hold. Why would he issue a damaging statement if he intended to sell?

[1bond] 20/9/2023 09:32

Questions remain over the open ended concerns of DCB. The company should address this in their trading update. We now have a shareholder holding 29.5%, what's their intentions, hold or dispose?

[dyor2] 19/9/2023 17:55

Just want to say well done to Nick Slater for leading the opposition to Tim Scott’s low ball “offer”. Without Nick kicking up a fuss this might have gone through as a recommended bid at 56p. The real reason it didn’t is of course that TS (and the Kino Board) became aware after the bid approach announcement (largely due to Nick and other PI efforts) that TS probably couldn’t even get to 50% at 56p, and more importantly probably wouldn’t have got to the crucial 75% (where he could delist the shares) even for a bid in the mid 60s.

It’s been a fascinating episode, and an illustration that private investors can make a real difference to the outcome of these sort of bids if they get their act together - and if Boards listen, so well done too to the Kino Board for listening to their shareholders.

So what now? Obviously in the short term the share price has dropped back below the mooted bid price (though I noticed it was well bid around the 50p level in the closing auction today). But if it drops back much further that’s probably a buying opportunity, because we now know that TS was keen to buy the entire company at 56p with his own money, and he still has his 30% stake. I guess it will depend on what TS decides to do next. Personally I’d prefer him to go quiet and just stay a shareholder along with the rest of us for the next couple of years and hopefully see 100p plus share price in due course. But he must be feeling fed up, so I suppose he might choose to commit his stake to a third party bidder who would pay a much more realistic price? If I were him, I’d just wait and see what happens over the next six months or so and make a decision then. But I doubt feels at the moment like he needs any of our advice!

[qs99] 19/9/2023 13:30

really odd way of trying to bid for the company, village IMO....why not engage with Board, put in sensible offer given low entry price anyway, rather than threaten PIs etc etc....

Now for Board to show us a nice TU please! DYOR

[nickcarr1] 19/9/2023 13:25

Just a bizarre way of going about things by Tim Scott.

Anyway, we continue. Would be good to get a stonking trading update now that we've put the bid behind us.

[villarich] 19/9/2023 13:21

"Having not been permitted access to perform due diligence, nor having received a response from the Company seeking to clarify or counter any of the points made in the Rx3 Announcement, this has heightened Rx3's concern and resulted in it deciding not to proceed with any offer."I assume Rx3 will be looking to sell their position then given their significant concerns...That's sarcasm by the way, just in case anyone hadn't realised.

[dope007] 19/9/2023 13:02

They never stood a chance at such a stupid price

[strollingmolby] 19/9/2023 12:57

Well that's Rx3 out of the picture for six months, leaving management to continue growing the business.

[nico115] 14/9/2023 09:38

As long as we stay independent I think 120p is the least we are looking at .Kino and csfs are my favourite 2 holdings at present .I've had a v lucky 40 years investing with many downs as well but I feel privileged to have backed David Bullen in a big way .

[qs99] 14/9/2023 08:16

agree, zero point TIpacs trying to low ball now, BOARD and PIs and hopefully a few instis will just vote it down so zero chance of getting to 50% or 75% let alone 90% the key IMO %s for it to "win"

Get a decent trading update out there, shares will be above 60p IMO. DYOR

[garyb01] 14/9/2023 07:37

What's happened to the north of 1.20 predictions?...

[patsc100] 13/9/2023 22:06

Let’s wait for the trading update. I’m certain that one will be fantastic, too.

[nico115] 13/9/2023 21:49

Imho it will be a total waste of money for TIpacs to proceed with any offer below 80p.95pct of shareholders can see exceptional value here and are happy to remain holders for a long time .David Bullen and his team are delivering on all fronts and EVERY shareholder can see that .The recent RNS's were fantastic .

[someuwin] 13/9/2023 21:07

Rx3 have from close of play tomorrow, one week left to put up or shut up.

"In accordance with Rule 2.6(a) of the Code, Rx3 must, by no later than 5.00 p.m. (London time) on 21 September 2023, either announce a firm intention to make an offer for Kinovo in accordance with Rule 2.7 of the Code, or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies."

[nico115] 13/9/2023 20:36

Actually I don't think TS will get to 50pct unless he offers over 80p.Just too much value here and both the instis and retail know it . No one is stupid here .The future as we are is very bright indeed .David Bullen is one of the best CEO's on Aim .

[nico115] 13/9/2023 13:53

Great post The last few Rns make TS 56p potential offer look absolutely crazy for shareholders to even consider .With 10p Eps achievable within 3 years any shareholder accepting an offer below 80p would need to see a doctor asap. Pe of 15 =150pThe BOD were absolutely right to dismiss TS potential offer at 56p especially with all these contract wins .Onwards and upwards .TS must know it will be impossible to get to 75pct with a v shrewd shareholder base who knows what Kinovo is worth .

[villarich] 13/9/2023 12:08

I'm surprised at the lack of volume or price move after the RNS.