Maxima Holdings Share Discussion Threads

[hannahc] 19/12/2011 10:53

Please click on the link below to access our latest research note on Maxima Holdings:



Kind Regards,

The Equity Development Team

[glasshalfull] 18/10/2011 23:45

As predicted in post 587.

Considerable dilution with CEO & Chairman gone. I've absolutely no idea what this means for the shareprice.

Regards
GHF

[stegrego] 18/10/2011 20:02

Hmmm RNS snook out at 4 30 and not sure what to make of it.

Dilution at 20p isn't great. Selling off a few bits and bobs is ok I guess.
Ian Smith taking full control is intriguing.

[stegrego] 28/9/2011 20:19

Decent size trade made it jump today.

[glasshalfull] 28/9/2011 20:11

Nice 10% rise today.

I'm no chartist but to my untrained eye is that a "bowl" forming?

Regards
GHF

[glasshalfull] 19/9/2011 17:52

Techmarket view

In an increasingly 'interesting' twist to the 'how do you solve a problem like Maxima' saga, the affable founder and executive chairman of the venerable but troubled mid-market software and IT services firm, Kelvin Harrison, has invited entrepreneur Ian Smith to join the Board as a non-exec director. Smith is currently a director of Accumuli, Redstone and his own M&A consultancy, MXC Capital. He has also previously been on the board of no fewer than 33 'interesting' companies over the past 5 years, a number of which we have written about.


Regards,
GHF

[glasshalfull] 19/9/2011 16:39

Just came across this article that indicates that his expertise may be utilised to sell off parts of the business.



Maxima turns to M&A veteran after sale talks go stale

Managed services firm hires Ian Smith as non-exec director
By Paul Kunert
19th September 2011 13:12 GMT


Maxima has hired buy-and-build specialist Ian Smith as a non-exec director in the wake of its failed attempt to sell the business.

The London Stock Exchange listed managed services provider last week revealed that it had been unable to thrash out a deal with several interested suitors and that the offer period had lapsed.

The firm notified the market today that Smith – a director at MXC Capital, Redstone and Accumuli – has joined the board to help the bosses determine the future of Maxima.

"His knowledge and experience will be a valuable asset through the process of completing our strategic review and beyond," said Maxima chairman Kelvin Harrison.

Smith has carved a reputation of restructuring, buying, building and selling channel businesses in the UK including Matrix and Xploite. He has concluded 26 corporate transactions during a career spanning two decades.

Since pitching up at Redstone around a year ago, he has sold off elements of the operation – the reseller business in Ireland, the BSF unit and the security business in the UK – helping to cut the losses at the networking integrator.
A similar process at Maxima would appear to be a clear possibility, with the group broken up and flogged off. Maxima currently has a managed services/ hosting business; proprietary software; and a Microsoft, SAP and Oracle reselling operation.


Regards,
GHF

[glasshalfull] 19/9/2011 16:30

Looks like MXM Capital - AKA Ian Smith - is going to take part in some form of fundraising/ placing in relation to Maxima & sale of the legacy businesses?

With MXM's recent results a lot healthier than the market had priced in then this is a situation where we could do with Ian Smiths "nous" to drive growth (EDIT:- & also extract value). I just hope that they don't give a slice of the company away too cheaply.

Having said that, I've added a few today. They are valued way too low with everything considered IMHO and as I've documented throughout the recent history on this thread.

Regards,
GHF

[paddyfool] 19/9/2011 12:27

Well Ian Smith on the board.....looks like a redstone bid coming

[norbert colon] 18/8/2011 16:29

Yes me too. Got in recently at 22p so fingers crossed...

[6kenny] 18/8/2011 16:15

smells like a takeover to me....

[tez123] 18/8/2011 14:13

Only 15m shares in free float and numerous contracts in the pipeline.

[masurenguy] 18/8/2011 14:09

What has prompted a 25% rise here today on the back of just 4 x 1000 share Buys ?

[marben100] 11/8/2011 16:46

sharky - you're right that Edison's research isn't independent - it's paid for by the company, but at least provides a digest of the facts and figures.

Do you think the staff in India have anything to do with the decline in Maxima's profitability?

Just noticed one interesting thing at the bottom of the results:

"The date of the Annual General meeting of the Company will be announced at the same time as the results of the strategic review."

So, presumably the S/R shouldn't take too much longer.

Cheers,

Mark

[hannahc] 11/8/2011 10:01

Please click on the link below to access our latest research note on Maxima Holdings plc:



Kind Regards,

The Equity Development Team

[hannahc] 11/8/2011 10:00

Please click on the link below to access our latest research note on Maxima Holdings plc:



Kind Regards,

The Equity Development Team

[sharky4] 10/8/2011 17:07

Having previously worked under Maxima, I have seen the share price dip from £3+ to pennies. I have seen good staff leave, replaced with staff in India.

As for the research from Edison, usually these aren't independent.

[stevemarkus] 10/8/2011 10:34

es, I thought the results looked OK as well. Streamlining the business should help. Be interesting to see what sort of offer they get - I would imagine that if it is realistic it should be quite some way above the current share price.

Having said that, I don't think Maxima have been particularly effective at managing their decline, and that shows in the current share price.

Cheers,
Steve.

[marben100] 09/8/2011 21:53

Results could be a lot worse. They only show a loss because of all the writedowns. £2.7m of free cashflow vs a market cap. of £4.4m doesn't look too shabby to me. ;0) Outlook statement OK and they've had an offer. I added early today.

I know Kelvin Harrison & don't think he's the sort of guy who would rip smaller shareholders off by taking it private on the cheap.

Edison note out today, here:

[sharky4] 09/8/2011 11:36

Looks liek a gloomy set of results. Market is full of pessimism at the moment.

[masurenguy] 09/8/2011 08:13

RNS Number : 9792L
Maxima Holdings PLC
09 August 2011

FINAL RESULTS FOR THE YEAR ENDED 31 MAY 2011

Financial Headlines

· Revenues of £45.7m (2010: £51.0m), in line with revised expectations

· Adjusted operating profit of £4.4m* (2010: £5.6m*)

· Adjusted profit before tax of £3.8m* (2010: £4.9m*)

· Loss before tax of £9.0m (2010: Loss £0.8m) after £1.2m (2010: £1.8m) of exceptional items and £8.3m (2010: £Nil) goodwill impairment charge

· Adjusted basic earnings per share 11.7p* (2010: 13.4p*); basic loss per share 33.9p (2010: 2.7p)

· Year end net debt reduced to £10.5m (31 May 2010: £11.8m)

· Net cash flow from operating activities was £3.7m (2010: £6.1m)

· No final dividend is recommended (2010: 2p)

(* Before amortisation of intangibles, impairment of goodwill, share-based payments and exceptional charges)

Operational Highlights

· 30% of business revenue now driven from Maxima's 'Growth Engines' (19% in 2010):

- Microsoft Dynamics AX/CRM performance up 37% year on year, to revenues of £3.6m

- Virtualisation performance up 50% year on year, to revenues of £4.8m

- Connectivity and Communications performance up 44% year on year, to revenues of £5.7m

- Doubling of Cloud Services customers in 2H to total of 30

· Other activities performance down 23% year on year, to revenues of £31.7m

· New software development centre now fully functional with 14 staff in Pune, India

· Our strategic review continues

Commenting on the results, Graham Kingsmill, Maxima's Chief Executive Officer, said: "As a result of difficult market conditions, corrective actions have intensified, centred around focusing on our key areas of competence where we believe growth prospects are most compelling. In the current year this organic growth potential will continue to be tempered by some further attrition from areas where we have chosen to scale back our presence. However, we are encouraged by pipeline improvement, particularly in the early part of the new financial year, although it is too early to be certain that this positive trend will continue or return to previous levels."

[tradermania] 02/8/2011 23:37

I'm just wondering if they are looking to take it private on the cheap.