Pennant Share Discussion Threads

[studentinvestor13] 29/8/2014 10:58

I just bought in at 86p. Trade is not showing. WH Ireland say that 80% of 2014's revenue forecast is covered by the order book so lumpiness is not a problem.Recommended on stockopedia and the value investment thread

[rcturner2] 27/8/2014 13:31

Yes even senior management go on holiday! Often in the summer and
also during school holidays.

[gengulphus] 27/8/2014 09:44

The results last year came out on 5 August. Can't see why it
should take an extra month this time to produce them. ...

However, they came out in early September in each of the four
preceding years 2009-2012. So it looks to me as though last year
was the exception, with them pushing the results through
particularly quickly for some reason, and this year they're just
reverting to the standard timing.

What the reason was for the particularly fast timing last year, and
why they cannot do it that fast every year, I can only speculate
about. But they're a small outfit, which means it could be as
simple as the availability of one or two key personnel - either a
matter of what else they're needed for or just of holidays.

Gengulphus

[ganthorpe] 26/8/2014 13:21

The results last year came out on 5 August. Can't see why it should take an extra month this time to produce them. I hope it is not a bad sign ,in finance bad news travels slowly. Or is there a deal in the offing?
Will have to wait till Sept 5 - or sell?
GAN

[ganthorpe] 26/8/2014 13:20

The results last year came out on 5 August. Can't see why it should take an extra month this time to produce them. I hope it is not a bad sign ,in finance bad news travels slowly. Or is there a deal in the offing?
Will have to wait till Sept 5 - or sell?
GAN

[pj 1] 19/8/2014 11:03

Thank you for your enquiry about our half year results. We are aiming at releasing them on Monday 8 September.

[el1te] 19/8/2014 08:01

From looking at past results, any time between now and the second week of September. The results last year were much earlier than the preceding years

El1te

[valustar1] 19/8/2014 05:20

Anyone heard when the results are due, was expecting them by now

[el1te] 04/8/2014 21:04

Will be interesting to see how the results stack up against expectations, which are looking for a circa 10% rise in each of turnover and pre-tax profits. The chart is showing the share price to be in a large triangle formation, so would expect the results to catalyse a material move

El1te

[5oletrader] 31/7/2014 15:32

Any thoughts or views in anticipation of next week?

[pj 1] 01/7/2014 21:11

Needs News imo, usually a tight ship so Im always wary with share price fluctuations here,

[tradingcoder] 01/7/2014 11:21

There's no real volume behind the rise so I wouldn't take anything from it, moving in the right direction though!

[rcturner2] 01/7/2014 10:16

Decent tick-up so far today, any views?

[ganthorpe] 05/6/2014 10:43

Bought a few more last week at 86P so quite pleased with rise since although spread is a problem.
Think we may see earnings over 8p for current year if H1 is around 3.5p.Looking for 1p interim divi and about 3.2p for the year giving a yield of about 3%.
Good value a bit over 100p if they can do it.?
I used to be an analyst , so don't rely on me.
GAN

[topvest] 06/5/2014 08:26

Top-sliced a few.

[joesoap3] 04/5/2014 19:27

I have read the Midas article as I do every Sunday but I won't be rushing to buy just now I have seen it with so many tips on Midas,it will go up on tues no doubt but will then come down again as people take a short term punt.

Believe me it will be best to wait.

[el1te] 04/5/2014 09:11

Makes a nice change for Midas to actually be tipping a decent company! Should be testing the upper 90s/100p on Tuesday, I would suspect

[dangersimpson2] 01/5/2014 17:41

We've had afternoon buying the past two days which usually means american interest although I'd have though PEN was too small and obscure to interest most american investors/funds.

[pj 1] 01/5/2014 16:30

Quite a turnaround today.

I did a dummy buy/ sell at selftrade at lunchtime where I could buy 100k and sell only 1k, so never imagined we would be blue today.

[kenbarlowx] 01/5/2014 01:24

Thanks Dangersimpson for pointing the RNS out.

£1.00:0.12m gain. £1.20:0.40m gain. £1.40:0.68m gain. £1.60:0.96m gain. £1.80:1.24m gain. £2.00:1.52m gain.

Mr Snook is paid about £0.25m. If applying the usual RBS 2-year salary bonus model, I expect him to get interested at any bid above £1.30 a share.

Shame if it's bought though, this is a company (local to me) I was intending to fall in love with.

[gengulphus] 30/4/2014 16:42

It does seem a bit weird... The two explanations I can think of are poor drafting of the RNS, with the requirement actually being about a more specific 20-day period, or a feeling that in an incentivisation arrangement, there ought to be a not-yet-achieved performance condition...

Gengulphus

[dangersimpson2] 30/4/2014 16:37

Hi G,

Good point - although I'm struggling to think why else this condition would be included apart from an attempt to set a minimum price, I agree it may not be that effective in reality. As an incentive the 100p condition would seem a strange one since the geared effect of £14k for every 1p above 91p should be enough incentive to get the best possible price!

Cheers,

Danger

[gengulphus] 30/4/2014 16:23

I think the 100p level sets a minimum takeover level at which point these would pay out because if there was a conditional offer at say £1.20 the share price would undoubtedly trade above 100p level for 10 days but if the conditional offer was 95p these wouldn't.

As worded in the RNS ("conditional upon the ordinary shares of Pennant having traded on AIM at a price of 100p or more for 10 business days within a 20 business day period") if e.g. speculation about takeover prospects drove the price to 100p or above for 10 out of 20 consecutive business days, and then the speculation disappeared and the price dropped, followed eventually by a takeover approach that succeeded at 95p, it looks as if the condition would have been satisfied and he would get 95p-91p = 4p per B share.

I.e. the condition as stated doesn't say which 20-day period the price must be high for, just that there must have been such a period. Once such a period has happened, it looks as if the payouts will happen regardless of whether the price is still over 100p or how long ago the period was... Of course, if the share price is below 91p, the formula for calculating it indicates no payout, but between 91p and 100p, there looks to be the possibility of a payout, depending what the share price has done in the past at that point.

Gengulphus