Share Name Share Symbol Market Type Share ISIN Share Description
Northbridge Industrial Services Plc LSE:NBI London Ordinary Share GB00B0SPFW38 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 109.50 7,882 08:00:03
Bid Price Offer Price High Price Low Price Open Price
105.00 114.00 110.00 109.50 110.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 33.98 -7.38 -26.90 31
Last Trade Time Trade Type Trade Size Trade Price Currency
13:57:45 O 403 106.95 GBX

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Northbridge Industrial S... Daily Update: Northbridge Industrial Services Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker NBI. The last closing price for Northbridge Industrial S... was 109.50p.
Northbridge Industrial Services Plc has a 4 week average price of 97.50p and a 12 week average price of 97.50p.
The 1 year high share price is 127.50p while the 1 year low share price is currently 66.50p.
There are currently 27,899,602 shares in issue and the average daily traded volume is 25,644 shares. The market capitalisation of Northbridge Industrial Services Plc is £30,550,064.19.
bookbroker: Off course it can, in Oz it is about the restrictions on movement of personnel, not the price of crude. NBI more involved in gas extraction and geo-thermal energy.
smithie6: continuous crude oil contract NYM is about 70$/barrel now compared with ~40$ a year ago can that help NBI at all or it really needs the oil price back over 100$ to produce a step jump in rental demand ?
smithie6: the £4 million of conv. loan notes were issued in April 2018 The GBP4 million of LNs have been issued at a fixed interest rate of 8%. The LNs are due for repayment in July 2021, if not previously converted to equity, and include the option to extend the term of the instruments by two one-year periods on the consent of Northbridge and the bondholders. If extended, the interest rate on the LNs post July 2021 would increase to 10% per annum. The LNs are secured, through a second charge over the Company. GBP3,237,000 of the LNs are convertible into 10p ordinary shares in Northbridge at any time at the discretion of the bondholders at a conversion price of 125p per share. The balance of GBP763,000 will become convertible on the same terms subject to the passing of a shareholder resolution to grant authority to allot equity securities. GBP3,950,000 of the LNs were issued to funds managed by existing shareholder, Gresham House Asset Management ("GHAM"). Of the LNs issued to GHAM, GBP3,187,000 are convertible into ordinary shares with the remainder becoming convertible subject to the passing of a shareholder resolution as noted above. The balance of GBP50,000, which are all convertible, were issued to another investor introduced by GHAM. Funds managed by GHAM currently holds 3,191,717 shares in Northbridge, representing 12.32% of the total voting rights. Iwan Phillips, Finance Director, commenting on the announcement said: "We are pleased to announce this new funding package with our senior bank and a substantial, supportive shareholder as it marks another key step in the Group's return to growth. Whilst the Directors remain committed to using cash to further reduce debt, the extended facilities contain lower fixed repayments which will allow the Group to invest for growth when appropriate opportunities arise." Graham Bird, Head of strategic equity at Gresham House Asset Management commented: "We are pleased to be able to support Northbridge by providing long term, secure funding in a way which has enabled the Company to simplify its banking arrangements and provides greater flexibility to invest in growth as the industry recovery gathers pace. The investment is a good example of our flexible and constructive interaction with our investee companies and we are excited about the future potential for Northbridge." Related Party Transaction GHAM is a substantial shareholder of the Company and a related party under the AIM Rules. The issue of the LNs to GHAM constitutes a related party transaction under the AIM Rules. The directors of the Company, having consulted with the Company's nominated adviser, Stockdale Securities Limited, consider that the issue of the LNs to GHAM are fair and reasonable insofar as the Company's shareholders are concerned. For further information Northbridge Industrial Services plc 01283 531645 Eric Hook, Chief Executive Officer Iwan Phillips, Finance Director Stockdale Securities Limited (Nominated Adviser and Broker) 020 7601 6100
smithie6: Mehta is a non-exec & has been so for years so, we can't blame him for much except phps the latest new options scheme to enrich the directors if they manage to sell co. assets at a good price which imo is largely out of their hands & surely depends mostly on the oil & gas prices (what should happen before giving cash to directors is firstly give cash to shareholders, 4% per year for every past year without a divi BEFORE giving more cash to dirs !! shareholders own the co. but the cash goes to the dirs.; & paying off farcical loan conditions (25% loan repayment fee ! wtf !!) because the dirs. decide where the money goes !! ===== I would expect a few sharp phonecalls or faxes to NBI about that 25% debt repayment fee. If banks did that on personal loans it would be news headlines !!
smithie6: 1) 13.9% of the co. now on options to dirs. looks excessive to me noting that the recommended maximum is 10% over a 10 year period ! 2) P.Harris already owns a notable % of the co. & gets a good salary (& car etc) as the highest ranking exec. director. & he has received a high total renumeration (£1.05 million ? 15 years at £70k) for a part time job during ~15 years as the non-exec chairman, during which the share price has not risen ! & hence one could argue that he hasn't done a good job, that is what the numbers say. 100p in 2006 & almost the same now ! & with deflation that phps indicates a loss ! He has got richer via the years of non-performance of the shares, while shareholders haven't ! Something wrong imo if the chairman is not already motivated to pull his finger out !!
smithie6: everything is easy to analyse in hindsight. including for me ! je je I think 'we' were all happy with the Tasman acquisition, as shown by the mkt increasing the share price after the acquisition. one thing I would criticise is the subsequent acquisitions in the drilling sector, putting a lot more of the shareholder assets in that one sector & being heavily indebted to do it, which infers risk (all dependant on just the oil price !!!!; & the bod seemed to have ignored that ) & as a result the co. got really nailed when the oil price fell from over 100$/barrel & the oil/gas exploration drilling sector fell hard (for oil exploration drilling I assume that the work almost instantly stopped); & rescue cash raises were needed.
robertspc1: The PE guys (who I know) recognise the operational leverage in rental businesses and obviously see big upside in AGK. Same dynamics with NBI but hidden by the group structure and costs. Demand uptick will feed through to profit and share price
smithie6: robertspc "chairman ..he’s very cautious and cost conscious" I disagree. He has been happily pocketing his highish chairman's fee every year, for years. & allowed the HQ cost to be £1.4 million per year. = 20 million over 16 yrs ! almost 2/3 of the money raised from investors ! & for a co. that is at the same share price now as when it floated in ~2006 !! & what has the 'HQ' ever achieved or contributed (while the 2 divisions, under their own dirs, run themselves !) How many corporate actions has the HQ ever done for Crestchic, in 15 yrs since buying it ? is it zero ?!! 2) The chairman happily co-operated with the MD & the high cost investments into oil/gas sector acquisitions in the "exploration sector" & high gearing, a high risk strategy. As a result the co. got nailed when the oil price fell & exploration drilling activity crashed. 3) in recent years the chairman agreed with investing in JVs in the Tasman hire sector. Today's results say that some loans for that have been written off & the JVs are loss making. It looks, today anyway, like the investment was not cautious nor wise. And it was yet further spending of money which arguably has left the accounts looking wobbly imo. (too much debt imo for the underlying profitability last year or the average of last 3 yrs). The dirs. seem to me to be addicted to spending money, on JVs or hire equipt (with low useage) & then issuing new shares & convertible shares & bank loans to pay for it, rather than using self produced cash ! Year after year. ====== & recalling that the departed MD made/suffered the same over-geared & crash problem at a previous co. he ran. Sykes. Which the chairman knew. Chairman allowed him to do it again, at NBI. ====== these facts don't portray the chairman as so cautious or cost conscious as you claim
smithie6: Aggreko is a different business, hiring out generators. While the business of NBI is - sale & hire of loadbanks & - hiring out drilling stuff (tubes etc) ------ Note, the cash flow-generation in '21 will be hit by costs to build the new factory (guess of 1-2 million ??) & payment of advisors who have started a study about phps selling Tasman (guess of £1/2 million). (clearly too much to expect the highly paid bod to do any work & do that study themselves, they are supposed to have decades of experience, no ??; noting that the divisions have their own directors & are not run by the bod directors). je je, I can also look forward. ;-) ======= As an investment I currently prefer VLE. (they own 80% of Shirefoods which saw a big increase in turnover & profit last year (& is cheaply valued) & it has put in a 2nd production line in 2021 compare with Crestchic which saw turnover reduce by £1 million). The 10-20 year growth record of Shirefoods wipes the floor with the growth at Crestchic. VLE has an excellent long multiplication in its share price (x15 over ~15-20 years whereas NBI growth since it listed at 100p/share is, well, 0. zilch. zero !!
smithie6: but do you agree it that it is fair to compare the share price now to the price at the IPO in 2006 ? basically the same ! arguably not a good record for Hook to take away with him, while on the other hand the bad share price perf. is the result of the fall in the oil price & that is/was out of his hands, but he did steam in to it over geared.
Northbridge Industrial S... share price data is direct from the London Stock Exchange
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