Nmcn Dividends - NMCN

Nmcn Dividends - NMCN

Best deals to access real time data!
Monthly Subscription
for only
Level 2 Basic
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type
Nmcn Plc NMCN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 117.50 01:00:00
Open Price Low Price High Price Close Price Previous Close
117.50 117.50
more quote information »
Industry Sector

Nmcn NMCN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

cc2014: I'm not getting this at all. Tinkler/Svella are paying around £24m for around 80% of NMCN (I can't be bothered to work out what the exact number is). For this they are getting a company which broadly speaking has never made any money in the last 10 years and has recently been very poorly managed picking up loads of bad contracts. For sure the company has a decent sized turnover and some long term contracts, but the success of the new venture will depend on it's ability to finally turn a profit, which generally speaking depends on the skills of the staff. Given the huge recent losses, it appears they can't bid the right price for work and just as likely they can't run jobs very efficiently. I'm not sure how far the £24m will go either... The first £5m gets gobbled up by a reduced bank facility to Lloyds Shall we say another couple of million for the extra losses from the RNS 2 days ago £10m minimum to pay the suppliers who are screaming for money else they won't continue working for NMCN Shall we say another £3m for redundancies to appropriately right size the workforce From what I can figure Tinkler/Svella are paying £24m for something which without their intervention goes bust and is worth almost zero. Of course unless they put in £24m it goes bust anyway.
jaf111: well below 50p surely.....unfortunately existing shareholders will be virtually wiped out even if nmcn can complete a refinancing.....sub 10p I would have thought!
cc2014: Another update yesterday. Losses will be significantly larger than £24m for 2020, although NMCN assert most of it is already in their capital projections. Results now expected in August. What a mess Homer and Taylor made of this. I hope Tinkler knows what he's got involoved with. It looks pretty challenging to me
squeamish1: The biggest mystery in the NMCN accounts is the £47m of unspecified ‘contract assets’ held at YE19. This has to be where the overstated profit has been being booked for the last five years. Presumably the new auditors are dissecting every contract to see if the future receivables really are likely to be what NMCN have been assuming based on work completed. Surprising they haven’t managed this in the last six months, especially since on 28-May the company released an updated view of YE20 profit which the auditors are still clearly not ready to sign off on. Eezymunny - you called this 2 years ago and warned against putting too much faith in the cash balance held. Can I ask what you saw that others might have missed? Always looking to learn thanks.
cc2014: Sadly it looks to me like NMCN can't provide appropraite justification with regard to revenue and costs on large projects. Which is how they got in this mess in the first place as they didn't have sufficient financial oversight of their projects. Given that they are being asked to justify the accounts for Dec 2020 and it's now 6 months on it's a pretty poor state of affairs. One wonders how Tinkler can be sure he's paying an appropriate price, although I'm sure NMCN have been open book with him over everything and it seems likely he would have known the shares were going to be suspended. Tinkler's getting a large company with alot of contracts and whilst he can fix the finance controls and oversight mostly I wonder about the underlying staff capability. Someone has to tender these projects which have lost loads of money, someone has to run them too and somewhere along the line something has been going very wrong.
eezymunny: "CC2014 - 08 Apr 2019 - 12:02:21 - 253 of 564 NMCN (previously North Midland Construction) - NMCN £50m market cap. £33m in the bank, £20m of property, plant and equipment and no debts and no pension fund deficit. Didn't think I'd ever see this price again! Off for a walk now. I look forward to the share price being repaired when I get back in a couple of hours." Don´t worry CC, you´ve never understood NMCN properly IMO!
cc2014: On reflection I still don't get it either. 10m shares in issue at buy price of £1.90 = £19m. 10m shares have the right to buy in the OO 25m shares at £0.20 So, average 10*1.90 + 25*0.20 = 24/35 = 68.5p if you buy now But I'm pretty much prepared to bet that after everything is done NMCN new share price will settle at 20-25p. Maybe 30p. Surely not as high as 68p? I guess the argument is that you are buying into Tinkler with a track record (which you may see as good or bad, there's alot to go over, possibly some synergies with other things he's involve with). But on the other hand Tinkler is buying it at less at 20p as the £10m bridging loan he's getting 62m (not 50m) shares which I make a huge amount of interest for 2 months. And then there's the "is £24m enough to sort out their cashflow or will they need more?). I do get the argument that buying 1 share entitles you to maybe get more than your fair share at 20p but looking at how many small trades have been going through it looks like lots of people have that thought process which will dilute the opportunity. I'm sorry that's all I can offer. The share price doesn't look right to me. And all this to buy into a company which will make a loss again this year, presumably has now a terrible reputation with its suppliers and a questionable one with it's customers. Something is not right. the share price trended towards £2 in the week before this announcement as the insiders had knowledge, but they and the rest of the market seem to have come to a completely different conclusion to me. I'll take my chance and see if I can buy near 20p post offer and if I don't understand and miss out, there are 2000 other shares in the UK for me to look at. Edit: but NMCN will have more assets after all this, through the cash injection. Tinkler is effectively buying most of the company for a £10m loan and £7.5m of equity. Tbh I'm not sure why. £17.5m for something that hasn't made a profit in 5 years, can't count and we can only guess the profitablity going forward seems a bit rich to me. These deals though, the investor rarely loses. They can pay themselves what they want, vote for whatever they want, load it up with debt, all the usual stuff. If I was him I'd want to be sure that there was underlying profit in the long term contracts and we don't have access to that kind of information. All imho, DYOR etc. because i have no idea why the share price is 190p and nor it seems did the MM's first thing as they expected it to open lower.
eezymunny: "EezyMunny - 15 Oct 2020 - 08:36:06 - 492 of 554 NMCN (previously North Midland Construction) - NMCN Looks like readers of this board were misled about the big cash balance offering downside protection etc. Just as well I was here to point out the risk that this was a ticking time bomb... Those that ignored me (pretty much everyone as usual) duly punished. As usual." Hang your heads in shame all those that ramped away, talking utter drivel about the cash balance. Go and read "Accounting for useless rampy thickos". As for the dimwits that were buying this in the last few days. To Gamblers Anonymous with you!
cc2014: I followed his trades at the time and he paid roughly between about 125p and 350p a share. I would guess his average is below 250p, but not lower than 200p. It's a bit hard to tell as I know he got a significant number under 200p. He will have had some dividends along the way too. If he's selling out it's going to take forever. I know as I sold mine last year. I started with 41k shares and dripped then into the market. I was more or less the only seller and it took me 6 weeks, 40 trades and during the process the share price fell 15% I don't know why he's selling any more than anyone else, but one of the on-line news mags report NMCN are looking for £50m loan. At say 8% that's going to cost them £4m a year. When you look at the underlying profit over the last 5 years it is probably negative after the £25m loss. Would you lend at 8% in these circumstances? I wouldn't. I'd want say 12% and then the interest bill is £6m a year and the numbers don't add up. What they need is a cheap Covid loan of some type. I don't know how feasible that is. Because they need £50m as the supply chain has lost confidence. If it was BAU they'd need maybe only need £20m which would be do-able.
cc2014: NMCN article Nmcn secured an initial round of refinancing last month worth £21.2m. It is still in talks with under lenders about a larger deal – which the Enquirer understands is worth around £50m. Would you lend them £50m? They look like toast to me. Not much to think about until the share price gets to 50p
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210729 04:00:23