Nexus Infrastructure Share Discussion Threads

[eezymunny] 28/2/2023 14:59

Such an illogical tender price imo. Wouldn't surprise me if it was voted down.

[jonwig] 28/2/2023 14:42

Wait and see what's to go for after the tender. The earth-mover might start undervalued.

[eezymunny] 08/2/2023 13:53

NAV looks like c. 225p/sh post disposal. Tender price about that, perhaps.

[wad collector] 31/12/2022 09:34

As the CEO owns such a large number of shares, presumably his interest in the share price is greater than other aspects of the deal that he might benefit from. Which is presumably good for PIs. Probably.

[pr100] 30/12/2022 13:04

Most credible potential buyers at this level would be cash, I suspect. And yes, this deal will surely go through unless another bidder is flushed out of the woodwork because Nexus needs cash and the alternatives are even less good for shareholders.

[jonwig] 30/12/2022 11:31

Today's FT tells the tale: "M&A suffers record decline in second half of 2022 as interest rate rises hit financing".

They were "exploring strategic options" for eSmart a year ago, but nothing has been forthcoming until now. I'd be very surprised indeed if this wasn't nodded through.

[pr100] 30/12/2022 09:45

The directors' "irrevocable" undertakings would instantly be revocable if the shareholders voted against the deal - which the remaining 65% would surely do if a better offer materialised.

[jonwig] 30/12/2022 09:31

pr100 - your analysis sounds right, but a counterbidder has to prize away the 35% already committed, who will get most benefit from the existing deal.

I've sold, but am willing to look again at the quoted rump when the air has cleared.

[pr100] 30/12/2022 09:30

I wouldn't rule out a management buyout of Tamdown either. I think they have been a reluctantly public company.

[pr100] 30/12/2022 09:25

Presumably we'll receive around £1.45 per share from the sale divi. What's Tamdown likely to be worth on its own? The MMs seem to think around 55p but I would guess more with the Levelling Up Bill and updated NPPF coming shortly to eliminate some of the uncertainties facing house builders. The big question will be how quickly it can generate cash - because if it fails to do so, dilutive equity issues could be on the cards. Even so, I would be happy to hold if only the new management could learn how important shareholder communications are in a listed company.

Imho, this deal undervalues the growth potential in both Triconnex and eSmart so I wouldn't rule out a counterbidder, albeit they'll have to move quickly.

[eezymunny] 30/12/2022 09:14

Tamdown lost 2m last year, pre-exceptional? Done much better in the past but an ugly sector...

[yump] 30/12/2022 09:02

I suppose in a better investment environment the bits needing investment might not have been sold off, although thats being nice about it.

Whats the betting we see esmart floated off at a great price in a couple of years.

Perhaps Tamdown will at least prove to be a reasonable income generator.

[p1nkfish] 30/12/2022 08:50

Yes, growth element taken from shareholders and ditch digger left over. At least I can find a use for the cash but a bit of a shame. Growth potential privatised. Was looking to add.

[jonwig] 30/12/2022 08:39

Smash-and grab. Take the good bits private and leave sharehoolders with a muckshifter. At least selling is a decently profitable option.

[p1nkfish] 30/12/2022 08:34

So much for confidentiality.

[c3479z] 30/12/2022 07:57

effective takeover apart from the least attractive Tamdown division left on the table, leaked into the market late yesterday a/c to share price?

[jonwig] 02/12/2022 07:12

"the publication of its results for the financial year ended 30 September 2022, will now be released in early January 2023 and not on 9 December 2022 as previously announced. This is due to the additional time required to complete the Company's final results, audit and annual report. A revised date will be announced once confirmed.

Results for the full year remain in line with the Group's trading update published on 26 October 2022. "

[jonwig] 21/11/2022 12:42

PODP are, I think, mainly working on home chargers. From a video I saw, eSmart are more into larger-scale things like service stations, car parks, eyc.

Their big drive will be fitting complete housing developments where TriConnex has arranged the utility connections.

This is the video:

[p1nkfish] 21/11/2022 10:45

Leadtime on EV's is choking the market.
It will free up.

[goodgrief] 21/11/2022 10:28

Road tax changes to affect demand? Doubt it. Far more significant is MG introducing a far more affordable EV at £25k, £10k cheaper than most offers. Podpoint cite supply chain issues and long waiting lists for most models. Those waiting are putting off installation of chargers till they got their hands on their vehicle.

[jonwig] 21/11/2022 08:45

PodPoint (PODP) issued a weak trading statement this morning: slowdown of installation, supply chain problems.

NEXS gave no indication of these issues with eSmart Networks, but it's possible the new tax onEVs could have an impact.

FY results ob 9 Dec.

[boadicea] 26/10/2022 07:32

Actually rather better than I expected and suggests the degree of share price decline may have been unjustified.

[p1nkfish] 26/10/2022 07:01

Perhaps they can show Fulcrum how to manage. Both sp's in the dirt but at least NEX has its head above water.

[jonwig] 26/10/2022 06:11

Trading update - good to see progress in all three divisions:

Nexus Infrastructure plc, a leading enabler of energy transition by delivering sustainable infrastructure, announces a trading update ahead of its results for the financial year ended 30 September 2022, which will be announced on 9 December 2022.

Nexus expects to deliver Group revenues of £173m for the year ended 30 September 2022 (2021: £138m). Revenue growth has been achieved in all divisions, with TriConnex improving by 10%, eSmart Networks by 86% and Tamdown by 26%. Group operating profit is expected to be in the range stated in the trading update of 9 August 2022 of £3.8m to £4.2m. The Group's order book is up 10%, with work winning continuing across all three divisions and currently standing at £316m (2021: £286m). The Group's net cash (pre-IFRS 16) at period end was £24.2m (2021: £18.1m).

Mike Morris, Chief Executive of Nexus, commented:

"I am pleased with the progress made in the year. TriConnex continues to perform, eSmart Networks is delivering strong revenue growth and Tamdown continues to optimise its service offering. Nexus has a strong balance sheet plus a growing order book, with the Group continuing to see high levels of demand for its services from customers that value its expertise."