Opsec Security Share Discussion Threads

[harrogate] 29/3/2010 09:59

Decent buy last week by employees including 160,000 to Directors. Just before the year end. Market cap now £14m with the prefs included. I do feel that if they can get a decent set of results out in March ( a profit ) with a positive outlook statement these could go a good bit higher. Ever the optimist!!!

[diku] 23/3/2010 18:49

Horrendous 2.5 - 3p spread here lately...

[harrogate] 08/3/2010 14:33

Well they are on board now ... I think the next 12 months could be better than the last 12 that's for sure. The weak £ should be good for us as the year end approaches as well

[topvest] 05/2/2010 21:33

It's not a great deal. But, it's better than breaching covenants and having a dilutive fundraising. Lets hope the new shareholders shake up this under-performing business and management team. We all know that there is a sound business, but they just can't seem to generate shareholder value.

[arthur_lame_stocks] 05/2/2010 19:56

Then again i'm not sure I like (or understand) the terms of that loan.

[arthur_lame_stocks] 05/2/2010 19:53

Ok. I think I was a bit hasty in my earlier judgment. Not such a bad deal since the preference shares are 35p. although they're not cheap at nearly 10% per annum.

[arthur_lame_stocks] 04/2/2010 20:17

Personally I think it's a pretty horiffic deal for shareholders.

[harrogate] 04/2/2010 08:12

I agree that it is hard to say that the managment have done a great job here. They won't go because a new fund has backed them and so they now need to perform. I would hope though that the new board members will displace at least one of the old guard.
I think you are half wrong on the acquisitions with the German one being very successful and I now think this internet search brand protection is why the new guys have invested ... the other acquisition that lost a major customer was not a good deal in sales terms but I do think the extra volumes have helped the company increase margin through production efficiencies.
I still believe that the structure of the deal is unsual for a quoted company and is much more suited to the private equity world. I see some action now and whilst i don't think we will make a fortune I am happier than I was before the deal because I was worried about the covenants. Watch this space I think for deals and a much more aggressive newsflow.

[topvest] 01/2/2010 21:25

Trouble is with Opsec. They shouldn't have acquired the companies they did on debt. Since acquisition they haven't mentioned much apart from getting into debt problems. That doesn't inspire confidence that they can do other deals. I would like to see management changes here to be honest as existing management have failed to do well from a basically fairly solid and robust business. That's not good and we should let someone else have a go!

[harrogate] 01/2/2010 12:59

Of course they drove a hard bargain and it is nor the best deal we could see as shareholders but I still think it is positive for us in the medium term ..it is a typical private equity type structure.

[diku] 01/2/2010 12:44

But the new shareholder gets the yearly return on their money(Divi) and the loan with 9% plus interest charges...so in effect the new stake holder is getting return on their money from day one!!...the price they buy the stake is an illusion!...

[harrogate] 01/2/2010 11:50

I have looked through the presentation on the website and I think this announcement is pretty good news on balance.

1) It removes the tight covenants they had with RBS which removes that risk of another breach of covenant announcement that I think we all thought was possible
2) It shows that these guys think it is a good market and that the price was a bit low
3) They say trading is in line with what they said in Dec which is good
4) It gives them some firepower to acquire and I think there will be some cheaps deals in the sector
5) It shakes up the board with some new agressive blood and that was sorely needed
6) This structure is now more a private equity structure and it could be that stage 2 is the taking it private and doing what they need to do in private

Not sure we can see firworks in the share price but I feel a lot happier this morning

[topvest] 01/2/2010 11:18

Quite a vote of confidence I suppose. Good news. Opsec should be doing much better than they actually are, so lets hope this is a catalyst to a change in direction.

[diku] 01/2/2010 10:22

David Mahony, Chairman of OpSec, commented:

"We are pleased to announce this proposed investment by Investcorp Technology
Partners. OpSec continues to see significant growth, investment and acquisition
opportunities in the industry which we believe will enhance shareholder value.
The proposed fundraising will enable OpSec to take advantage of these
opportunities as they arise."

[diku] 01/2/2010 10:19

No I didn't see that coming either!...but I have been banging on the BB of the recent price action being very weird!!..my post of 29 Jan was the tell tale signs something was up..

[harrogate] 01/2/2010 07:48

Didn't see that coming did we? Need to think what it all means but it does mean that the company has no funding worries now and that must be a good thing. The whole structure of the company now is more suited to being private rather than quoted so lets hope that is the next step !!

[diku] 29/1/2010 12:06

Very wide spread here...buyers forced to pay the full premium on small buys...

[harrogate] 27/1/2010 15:47

I think we have to accept that any bid will not come until trading improves and they show that a purchaser has something to buy. I think it will happen but I would guess it is at least 2 years away now. They just need to grind out some growth and look after the cash.

[diku] 27/1/2010 15:30

They need to invite some bidder interest here..

[topvest] 26/1/2010 21:11

All looking fairly grim here of late. Not my best share of all time. Acquisitions a year or so back look to have been a waste of money, given they haven't been mentioned since.

[diku] 26/1/2010 16:33

No takeover yet?...

[diku] 14/1/2010 13:22

This company used to get Olympics contract overseas...do they still get those contracts?..

[diku] 13/1/2010 13:16

They do have US exposure...so I am thinking may be a US company...any possible names?..

[harrogate] 13/1/2010 12:54

Lets hope so ... the share price is telling me something is up

[diku] 13/1/2010 12:52

This has got to be on a radar screen of a larger company...