elysiumgold,
"How can this offer be legal? Less than two hours to see the offer, read it, decide and act. Now the holding is diluted and retail investors weren’t given a fair chance to respond."
Because at the last AGM shareholders voted to
(a) permit the company to issue new shares, subject to a maximum, and
(b) disapply pre-emption rights, hence meaning that a placing (rather than a rights issue) could be done
see:
JakNife |
How can this offer be legal? Less than two hours to see the offer, read it, decide and act. Now the holding is diluted and retail investors weren’t given a fair chance to respond. |
Looks like a great deal
Zeus said it would update its forecasts once the deal has been completed next month, but suggested it expects around a 15% uplift in Pinewood’s FY25 revenue and no change to underlying EBITDA, while FY26 revenue will be around 25% higher and underlying EBITDA to be lifted by around 21%. |
Yep, just saw the news and email from II. Already closed, annoying. |
That was the fastest investment round I have ever seen. 2 hours to see the offer and toInvest |
It's interesting Lithia are not subscribing |
Total offer wont exceed 13% of existing share capital. It will be interesting to see what the subscription price will be. |
Has anyone read the retail offer yet? I'm trying to get my head around it and the dilution effect it will have on existing shareholders. |
Significantly Earnings Accretive by FY26 |
Proposed acquisition of remaining shares in Seez. Seez co-founder to subscribe for £477k of placing, PINE NED to subscribe for £20k. |
Marshalls may be wondering where their warrants are? Maybe setting a bit of a precedent. |
Nice news. |
Citigroup Global Markets Limited at 5.8%. Threshold crossed in May 2024 but PINE only notified today. |
Christopher Harwood comments on PINE from 22.25
Also .... I hadn't realised that there was a recording of the October Capital Markets Day: |
Some progress here at last- decent tick up in vol last few days- overhang starting to clear? |
CFO buys c. £100K's worth |
MIDAS SHARE TIPS: Car sales software firm Pinewood plots global expansion |
The Oak Bloke's analysis is at
(Note that TOB is using the old year end of the 31st January, but PINE have now changed this to the 31st December) |
Today's CMD presentation is at |
FY27 (year ending Jan 2027) had previously been forecast to produce £27m EBITDA, pre tax profit of £23.6m and EPS of 20.3p. Today's 10% underlying EBITDA upgrade should also improve underlying EPS by 10%, so at 340p this is trading at around 15x the 2 year forward PER.
To me that seems very cheap considering the pending US rollout via Lithia & the fact that even with the Marshall's deal they are only in 4 of the top 20 UK dealer groups.
Loads of potential to reach £50m+ in EBITDA by 2030 and a share price multiple north of here (particularly as a US listing would become more attractive the larger they became). |
Pinewood Technologies Group Plc : Berenberg raises PT to 455p from 400pPinewood Technologies Group Plc : Jefferies raises PT to 575p from 550p |
 FY27 underlying EBITDA guidance increased to £30m Following the successful early progress that has been made since Pinewood began trading as a standalone business at the start of February 2024, and the ongoing positive growth drivers it sees in the market, the Group is also pleased to announce that it is raising its guidance for underlying EBITDA in FY27 to £30m from £27m.Bill Berman, Chief Executive Officer of Pinewood Technologies Group PLC, said:"Pinewood is a business with over two decades of industry experience and engagement with the automotive retail sector. We provide our customers with a single, secure software system that covers all aspects of the customer journey from the front of house reception team, the vehicle sales team, the service technicians, right through to the accounts team. We have very high levels of customer retention and are proud to partner with over 50 OEM brands worldwide, many of whom are long-standing partners. "This provides us with strong foundations to achieve our ambitions as a standalone company and I am delighted with the progress we have made this year. We have largely completed the rollout of our products to the UK sites of our strategic partner Lithia and earlier this week we were awarded a contract with Marshalls, further strengthening our position in the UK. Meanwhile, our strategic partnership with Lithia provides access to the extremely lucrative North American market and we remain on course to begin piloting our system in a number of Lithia stores in the second half of 2025, before the full North American system rollout starts during 2026. "Today, we are also announcing an exciting update to our customer-facing brand identity under the banner of Pinewood.AI. We believe this reinvigorated proposition will further enhance the steps we have already taken to strengthen our go-to-market function and deliver on the exciting plans we have for the future." A presentation of the event will be available on the Pinewood investor relations website at 9.00am on Thursday 24th October 2024. A recording of the event will be available on the Pinewood investor relations website on Tuesday 29th October 2024. |
Sounds like more to come. If this works out well, others will be looking hard at our offering. Capital Markets Day on 24th might give us more of an insight. |
Yes great new contract |
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