ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

NCH Ncipher

297.50
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ncipher LSE:NCH London Ordinary Share GB0032475476 ORD 0.527P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 297.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 297.50 GBX

Ncipher (NCH) Latest News

Real-Time news about Ncipher (London Stock Exchange): 0 recent articles

Ncipher (NCH) Discussions and Chat

Ncipher (NCH) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type

Ncipher (NCH) Top Chat Posts

Top Posts
Posted at 15/7/2008 20:03 by rivaldo
Interesting stuff from the FT - several bidders apparently. Looking like Thales have got it though judging by the price action:



"Ncipher recommends £51m takeover bid
By Rob Minto, Technology Correspondent

Published: July 11 2008 18:19 | Last updated: July 11 2008 18:19

Ncipher, the Cambridge-based data encryption specialist, has recommended a £51m bid from Thales, the French military electronics company, ending a lengthy sale process that attracted several bidders.

Rumours of the 300p a share bid emerged on Thursday, causing the shares to rise by almost three-quarters. After the move was confirmed on Friday, they rose 26p to 286p.

A previous bid in 2006 by SafeNet, a direct US rival to Ncipher, fell through after it was referred to the UK competition regulator. The Thales offer was described by Geoffrey Finlay, Ncipher chief executive, as "a good result for shareholders".

He said there were no plans for redundancies. Alex Dorrian, chief executive of Thales's British operations, said the deal would beef up its security products and improve its data security services.

Analysts were positive about the deal. Ian Mitchell of Charles Stanley Securities said shareholders should "take the money".

Ian Spence of IS Research described it as a "cracking deal". He added: "The market has struggled to understand the prospects of Ncipher and the price was clearly a surprise. But this is a solid, synergistic deal."

FT Comment

With the share price as low as 125p a few months ago, a 300p a share offer must be a relief for many shareholders. After a management reorganisation earlier this year that removed the company's founders, Alex and Nicko Van Someren, and a substantial investment programme, Thales has realised a good buying opportunity – although one that surprised the market. But the SafeNet bid of two years ago valued the company at £86.1m and, in that light, £50m does not seem quite so high. That may be explained partly by the fact that Ncipher counts several banks among its clients at a time when the financial services industry is in the midst of a crisis. But the company also works for governments, whose software and security requirements are far less cyclical. Thales wants Ncipher to access its hardware. The French company makes more than 60 per cent of its sales to the military and operates in more than 50 countries, so has the opportunity to increase Ncipher's estimated £25.1m 2008 sales."
Posted at 14/7/2008 09:49 by philjeans
Back from holiday at the weekend to see this wonderful news!

That's two in a row for me - EUSP on PLUS for 50p cash and now NCH for £3 cash - AMU failed in T/O talks but still a solid buy at P/E of 2 and cash rich!

Also hold quite a wedge in GNE (IN TALKS CURRENTLY AND WILL BE OVER £2.50 CASH WHEN IT'S OVER) together with ANGLE AND MEDICAL HOUSE.

Hold all my NCH in my and my wife's ISAs so that's handy too!

O/T holding and very keen on BLINX and RENOVO for ultimate T/Os too.

DYOR NAI.
Posted at 10/7/2008 16:59 by clogue
Three pounds is certainly at the top end of my expectations, especially in these troubled times. I would suggest that this is a knock out price and does take into account that other parties may be interested. Don't get me wrong, I would take more than £3, but equally would be happy so see a speedy conclusion at this price.
This is the second time in 10 days that a company I hold has been taken over at almost a 100% premium (if this goes ahead). Although I am not complaining, and I am very glad to pocket a very good profit in both cases, what does this say about the state of the stock market? It is very difficult to believe in the "efficient market theory" when one day a share is trading at c155p and the next day there is a potential bid of 300p(my other share was trading at 31p and received a bid of 60p).
On a more encouraging note it does show that the current market slide has been totally indiscriminate and those other small company shares you hold, and have seen marked down to ridiculous levels, really are worth much more. Perhaps we should (as our American friends might say)"strap on a pair" and get in there and buy/add.
Posted at 10/7/2008 14:21 by rivaldo
Yippee!!!

An interesting RNS, obviously forced on NCH due to the price movement as it was issued without the bidder's permission.

I wonder - perhaps now this is out in the market other bidders will show their hands?
Posted at 09/7/2008 16:08 by rivaldo
Come on then NCH, where's this bid then?! I suppose the good news is that if it's taken this long it must be serious.

A nice mention here following a breach of security at Google:



"Nemertes Impact Analysis: Hopefully No Match Found: Google Experiences Third-Party Data Breach

The Impact Analysis is a weekly quick-take on breaking IT news.
Nemertes provides expert insight on how recent IT news affects you.

Google (NASDAQ:GOOG) experienced a data breach at a third-party services
provider. This highlights the need to protect employee and customer data
wherever it's stored. The issue is not if your data will be breached, but when.
Best practices include encryption, strong key management and diligent audits and policy enforcement. In Nemertes' Security and Information Protection
benchmark, 29% of participants do not yet conduct regular internal audits of
their security systems. There is still room for improvement.

Impacts:

Enterprises: Implement regular internal audits and extend security policies
(and audits) to include any third-party providers that have access to employee
data.

Vendors: The opportunity for third-party providers is to adopt security best
practices including ISO 27001 and SAS70 to make data protection a market
differentiator.

Investors: Encryption is the common thread for data privacy. High profile
breaches increase the interest in companies, including: nCipher (LON:NCH) and
privately held CipherMax, GuardianEdge and SafeNet.




Ted Ritter, Research Analyst"
Posted at 14/4/2008 20:54 by rivaldo
Hope you're right napoleon. I think I agree that this time NCH's days are probably numbered with a "number" of bidders mentioned and the need for security going NCH's way, it's just a question of price.

Another news item FYI - one more reason to acquire NCH since it's at the forefront:



"Leveraging Web Expertise for Secure SOA
1/17/2005 | Print Version

by Vance McCarthy
A coalition of enterprise security vendors are proposing a three-tier blueprint for helping architects and devs secure their building inventory of SOA applications.

The group -- comprised of Forum Systems, nCipher and Oblix -- is among the first to collaborate on defining a real-world, deployable and manageable "SOA security blueprint" for securely accessing backend J2EE application servers -- from either inside an enterprise or between partners.

The "blueprint," in fact, ties together all the infrastructure components an enterprise would need to secure the entire SOA pipeline: from the perimeter, across multiple firewalls, into the back office and finally into the application. The technologies addressed include: protocol protection, identity management, access control, threat protection, security management and key management cryptography. The "blueprint" also addresses the performance impact that widespread use of encryption and digital signatures can have efficient use of SOA systems. [The work was debuted at Oracle's Open World last month in San Francisco.]

[Forum Systems is the provider of XML data and web services security hardware and software. nCipher provides a range of cryptographic security for hardware and software assets. Oblix is a provider of identity and policy management options to web and SOA environments, including multi-platform single-sign on solutions.]

"Basically, our blueprint for end-to-end SOA security brings together three (3) different layers of security, which individually contribute a specialized security protection," Wynn White, an Oblix marketing manager told IDN. Those three different layers include...."
Posted at 11/4/2008 13:33 by nurdin
-NCH currently have an EV of of around £24m
-this for a company which reported revenues of £24m with pretax profit of 3.4m for the year just ended, despite the high R&D costs of £5.3m
-gross margins were at very impressive 88.5%
-most high tech comapnies are valued at 3-4 times revenues,even when they not making that much profit
-without the the planned investment in the company declared recently,NCH were pencilled in to make pretax of £4.24m by KBC for the current yar
-based on these facts and bearing mind that NCH have considerable IP assets,I reckon a price of 300p,or market cap of £48m, is not entirely unreasonable.That would value the company at just 2x last years revenues or about 11x potential profits for the current year
Posted at 11/4/2008 09:38 by rivaldo
Phil, I sold all of mine at 285p, don't ask me how the brokers did it but I was grateful :o)) Grateful to get back in at much lower prices too.

Don't know about 500p phil, a tad optimistic perhaps....looking back, the tender offer valued NCH at £82m. Subtract the £34m cash distributed leaves £48m, so with 16.8m shares currently in issue that would equate to 300p per share residual value.

Since then NCH have acquired Neoscale too.

Difficult to value. NCH must be highly tempting in the current security climate, so if there are keen buyers out there then certainly 300p or maybe a lot more could be on the cards. If not, then my 230p-250p may be more realistic.
Posted at 18/3/2008 09:10 by timtom2
Now is not the time to get in unless you can ignore the share price for at least 12 months. This is not the bottom. Buy-in in 9-12-15 moinths time.

I too am a little troubled by the wording and style of new CEO.

Sorry to post this - have made good money off NCH in the past - but
Posted at 08/12/2007 13:49 by rivaldo
Sophos have now pulled their IPO given market conditions - hardly surprising! The valuation looked far too toppy to me.

More surprising is the decline in the NCH share price. Only two months ago the Chairman was buying 100,000 shares at 245p. the volumes have been pitifully small, so I suspect any interest would perk things up quickly.

There was a trading update on 18th December last year (mixed in with Abridean news) so hopefully we'll get another one soon.

Remembering that NCH had £11.1m of cash against the £38m m/cap at the interims (probably £12m now), here's the latest forecasts:

2007 2008
Broker Date Rec Pre-tax (£) EPS (p) Pre-tax (£) EPS (p)
KBC Peel Hunt Ltd 07-12-07 BUY 3.58 9.91 4.29 15.93
Panmure Gordon 07-12-07 BUY 3.37 9.11 3.39 12.88
Charles Stanley 26-10-07 BUY 3.40 10.27 4.10 16.69
Ncipher share price data is direct from the London Stock Exchange

Your Recent History

Delayed Upgrade Clock