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NRG Nthn.Recruit.

30.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Nthn.Recruit. LSE:NRG London Ordinary Share GB0001687713 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 30.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Northern Recruitment Share Discussion Threads

Showing 1776 to 1799 of 1950 messages
Chat Pages: 78  77  76  75  74  73  72  71  70  69  68  67  Older
DateSubjectAuthorDiscuss
22/5/2008
13:43
I am absolutely sure they don't have to declare at 3% but whether they have to declare at 10% I don't know. I have held several shares where Unit Trusts are declared as major holders in the Annual Report but an RNS is not to be found.

I cant find a link to the rules at the moment but will have a dig...

momentos
22/5/2008
09:52
I find it hard to believe its Lorna selling
stemis
22/5/2008
08:23
Are you sure about this unit trust thing - I thought they still had to declare
harrogate
22/5/2008
08:11
Not absolutely necessarily. A market maker could also have had alot on their books (unlikely!).

Rathbones had quite a few a while back, again as a unit trust their need to declare is reduced (at 10%?) so it could alternatively be them. Given the sale of 8.1% they must be pretty much done.

Or it may be another undeclared unit trust.

momentos
22/5/2008
07:13
So it is Moran - where is the RNS?? - I am amazed that she has gone below 50% - WE need some clarity on this I think
harrogate
22/5/2008
07:11
Doesn't look like Jupiter are selling
stemis
21/5/2008
07:06
They are certainly doing that but where are the RNS's? Can't see why they really want to be quoted at all - They would save £100k and they clealry aren't going to use the quote to do anything - Take it off market now and in a couple of years sell it at double when the market improves
harrogate
21/5/2008
06:59
Maybe they are just enhancing shareholer value (Lorna being a shareholder)
stemis
21/5/2008
06:06
It may well be the oddities of Unit Trusts. They don't have to declare interests in the same way as investment funds as they are seen to be a collection of individuals or something.
momentos
20/5/2008
18:45
It must be Jupiter but where's the RNS -

I think they are getting ready for an MBO here - It will cost them nothing and Jupiter are obviously happy to sell at 45p - The board are all pretty old and not sure why they want to be quoted.

harrogate
20/5/2008
18:42
Probably double entry for 368k for whatever reason, cant see the rest though! Nothing on Plus Markets.

1.4m (8.1%) of shares now bought back @ a cost of 641k. Should leave over 4m in the bank, market cap 16m * 46.5 = 7.5m. 25p cash per share.

They can only buy back another 330k.

In the last Annual Report Lorna Moran had 8.9m shares. So agreed, she would hardly sell down to 7.5m (under 50%). But this must be a distressed or otherwise unhappy seller to be offloading at 45p with all that cash around.

Is this franchise really worth only a net 3.5m?!

momentos
20/5/2008
16:34
I don't understand the RNS - what were the other shares traded today then?
harrogate
20/5/2008
16:00
Another 469k shares bought back at 45p
deswalker
20/5/2008
14:18
Annual report:

The Company has been advised that Jupiter Asset
Management Limited has a non-beneficial interest of 15.7 per
cent of the Company's ordinary share capital. Other than this,
and the shareholders noted under Directors' and their
interests, the Company has not been notified of any other
shareholders with a beneficial interest of 3 per cent or more or
a non-beneficial interest of 10 per cent or more of the
Company's ordinary share capital at 5 September 2007.

So two in the frame - Jupiter or Moran...

momentos
20/5/2008
13:38
There are a couple of other holders - won't be Moran since it would take her below 50% - They need to sort out an RNS re the sale
harrogate
20/5/2008
13:33
Hmmm...

I wonder who the seller is too...

Coincidentally that 368,925 x 2 amounts to just about the rest allowable under the buyback rules (10% or about 1.7m shares).

It could well be Lorna Moran herself selling shares back to her own company. Extracting cash in some tax efficient way whilst increasing the value of her remaining holding?

(even I'm not sure exactly what I mean, but who else has that many to offload??)

momentos
20/5/2008
13:16
That's the lot now !!

I can't see how we haven't had an RNS from the seller??

harrogate
16/5/2008
11:40
The North East is the likely destination for the national identity registry
stemis
16/5/2008
10:36
FD is her husband aged 60 I believe.

The concerns I think are partly due to reliance on Government contracts and the recent issues in the North East's economy.

The NE received substantial "patronage" from the Blair Government which, at the outset had about 1/3 of cabinet members with NE seats. With Blair gone and debacles such as Northern Rock and the DEFRA etc scandals this doesnt seem so rosy now.

Extracting the value and retiring doesn't look an easy prospect (selling out to a national may mean staff / franchise are lost), but at some stage I believe it will happen. And of course what the Moran's get, the rest of us also get!!

momentos
16/5/2008
10:28
I agree with your comments - I think that they are undervalued now and it is difficult to see them going much lower ( although I have said that about a few of my shares in the last year !!) I note the FD has the same nmae as the MD - is he a brother - he is fairly old too

They need to sort that NRG connect out and hope that they do not have another bad debt and this year should be OK - I work in the industry and there is plenty of temporary stuff to win although margins continue to be under pressure

harrogate
16/5/2008
10:03
NAV is 6.4m vs mcap of 8.3m with no goodwill etc at all. Given the dominant shareholder and her age (nearing 60) the value in the business is more likely than not to be realised / extracted in the short to medium term. Especially given entrepreneurs will have been shaken up by the government recent attempt to ramp up CGT.

This is also bound to lead somewhere:

"TotalNRG is a consortium of regional recruitment specialists, led by NRG, established in 2007. It secured a place on the pan-Government framework contract for the provision of recruitment services, and has now begun to supply high quality temporary staff to a wide range of Government organisations including HM Prison Service, the Crown Prosecution Service, Border & Immigration Agency, the Home Office, Security Industry Authority and HM Revenue & Customs. The innovative consortium model is proving robust and effective in delivering staff in all parts of the UK, capitalising on the local knowledge of our partners, and in ensuring tight management control throughout the process."

momentos
16/5/2008
09:49
Indeed, just thought I'd point out what a ridiculous statement it was.

Final Divi will remain at 5p imo as hinted at in IMS. That makes the FY yield 16% !!!


"In considering the full year dividend the Board will take account of not only the anticipated level of earnings but also the strength of the Group's balance sheet."

And they have authority for a further 800k shares buyback - I would think this is extremely likely to happen (cost at 50p= £400k).

momentos
16/5/2008
09:34
Just ignore him...
harrogate
15/5/2008
17:07
Going down.
freddie ferret
Chat Pages: 78  77  76  75  74  73  72  71  70  69  68  67  Older

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