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PRP Prime People Plc

67.00
0.00 (0.00%)
01 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Prime People Plc LSE:PRP London Ordinary Share GB00B4ZG0R74 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 67.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
63.00 71.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 67.00 GBX

Prime People (PRP) Latest News

Real-Time news about Prime People Plc (London Stock Exchange): 0 recent articles

Prime People (PRP) Discussions and Chat

Prime People Forums and Chat

Date Time Title Posts
20/12/202311:31Prime People - due some activity?247
18/3/201020:07Prime for recovery?1
20/7/200414:48Prime People recession to hit hard. 5p target.16
31/8/200110:52Prime People ready to do a deal?14

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Prime People (PRP) Most Recent Trades

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Prime People (PRP) Top Chat Posts

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Posted at 20/12/2023 11:31 by rightnellie
This one keeps giving. Glad I held rather than sold when they delisted. Quite difficult to sell but the share price has risen to 80p on Asset Match (and has been a little higher than this)I have recovered 40% of my original purchase price in dividends + special payments over the last two years
Posted at 20/3/2023 12:13 by squeamish1
Still holding, wondered why the hell my account balance had increased by £800 but turns out a very welcome capital return from Prime. Also no idea how it works, my broker still holds the shares (must be CREST registered)and dividends show up periodically. Must have had over half the tender price back since it went private. Long may it continue
Posted at 15/3/2023 12:15 by skyracer
35p/share capital payout!

Still retain the residual investment that did not qualify for the tender offer. Prime People seem to have taken wings since going private. Regular good dividends and now this .... !
Posted at 25/1/2022 14:48 by squeamish1
Thanks thirty, really useful info there. Sorry for late response. I have been left bag holding and have raised a complaint with my broker, so let's see how that goes. If I had received corporate action notice and been able to participate in tender I would have done so and been taken out at 87p; I only have approx £1500 of share as a rump holding so happy to see how it goes from here and try my hand at being a minority. Well I have no choice now anyway! Good luck and see you at the AGM ;)
Posted at 19/1/2022 15:53 by thirty fifty twenty
hi squeamish -

re broker. i think you might have certain rights here, so worth contacting the broker / regulator for complaint purposes. i had an issue on something similar in the past with ii and they funded their mistake out of their own pocket for my loss.

re PRP - it is defo risky holding minority shares in an unlisted company,
i currently have some in WTG + PVCS and view them as PE type investments.
BUT i think here the risk/reward is better than most situations i've seen.

my reasons...
the sector is booming!
so i think PRP will be making bigger profit next year.

IF they decided to sell this business the take out price would be c. double current levels in my opinion / compared to listed valuations of PAGE/RWA/IPEL,

the directors ad 3 biggest shareholders have held onto c.55% of the shares and not participated in the offer. they already control the company so can pay themselves inflated salaries if they wish so why bother making the effort to control more equity (after this tender the directors and big 3 wil control c.75% of the equity)

a director bgt (i think) 50k shares last week and didnt intend to tender!

they will save themselves c.200k p.a. in listing fees.
so this alone adds c.£1m to the value of the business (i.e. the directors and big 3 have benefitted by c.£750k (IF they sell)

in fairness though... i thought their communication of the tender was very clear, reasoned and the premium decent enough. so i trust the directors to be doing the right thing.

interestingly, they are keeping governance rules in place for 12 months after de-listing. i think this is really interesting - why bother when they a have already given all minorities a chance to exit??

my view, is that they plan to sell the bsuiness within 12 months.
if they had made this decision then it makes sense to use the company's own CASH to buy almost 2/3rds of the shares they dont already own. the price they offered is a good price compared to the stock market but if way below if they were selling the business.

my own plan. i bgt heavily before the tender. with the idea to roll over my profits into the non listed. i am considering buying more before they delist... logic - a chance to buy at 78p, something the directors were happy to buy at 87p. - lets see.

All IMHO, DYOR + BoL
PRP is in my top5 hldgs
Posted at 19/1/2022 11:29 by squeamish1
Any holders still here? Just found out about the de-list, my broker failed to give any notification or open up a facility to participate in the tender. No experience of being a minority in an unlisted company so interested if anyone can share a view. Sell and move on?
Posted at 29/12/2021 12:05 by thirty fifty twenty
i've been selling into the market as there seems to be good liquidity.
i was caught before with PVCS where it looked like there were good CASH assets in the company but once it goes private you have no control at all. at PVCS the directors have delayed and delayed and now 18mths later the CASH pile is reducing significantly.
so much as i think PRP is very undervalued at 74p or even 84p - the risks when it becomes unlisted are just too great for my strategy. that said, i can understand fully for someone with big CGT tax losses or a more risky strategy it is undervalued even at current prices today - it wold be worth a lot more in a bid situation.

good luck all

Al IMHO, DYOR + BoL
PRP is in my portfolio
Posted at 01/9/2020 14:28 by dangersimpson2
I feel a little bit sorry for PRP - they returned what they thought was excess capital and then got covided (my new verb) and needed a CBILS loan to keep them going. This will act as a dividend blocker while it remains in place - hopefully no the full 6 year term.

Although this has been a cash-generative niche business in the past the issue I have with buying now is that there is simply much better value in the sector at the moment. Lots of recruiters are trading at a discount to TBV where most of the assets are trade recievables. PRP is on 1.84xTBV after adjusting for the return of capital BEFORE any covid related trading losses. That they had £1m cash & no debt at 30th September 2019 but now needed £2m CBILS loan suggests these losses could be substantial.

GATC is on 0.6 TBV, HYDG & RTC are on 0.9 TBV and are mostly cash-generative as their large receivables books unwind. Buy these and you get any recovery in the trading business in for free.

It is tempting to see the very large fall in PRP and think it must be good value, but compared to other small recruiters it still seems to be overvalued if anything.
Posted at 27/8/2020 19:47 by hodhasharon
Do you have an interest in PRP albert?
Posted at 27/8/2020 13:55 by hodhasharon
Ok, so I've had this tipped to 100p. I've done some initial research:

Valuation
Is Prime People undervalued compared to its fair value and its price relative to the market?

Undervalued compared to fair value
Share Price vs. Fair Value
82.0% Undervalued
Current Price UK£0.43
Fair Value UK£2.39

Short Term Liabilities: PRP's short term assets (£8.1M) exceed its short term liabilities (£3.5M).

Long Term Liabilities: PRP's short term assets (£8.1M) exceed its long term liabilities (£1.1M).

Ownership Breakdown
Institutions 16.9% 2,084,546 shares
General Public 22.5% 2,770,774 shares
Individual Insiders 60.5% 7,451,953 shares

Market Cap: UK£5.292m
Shares outstanding: 12.31m
Website: hxxps://www.prime-people.co.uk
Employees:138

Year ending: 31/03/2019 31/03/2018
Revenue (£m) 24.66 22.92
Profit before tax (£m) 2.47 1.19
Adjusted EPS (p): 13.72 8.67
P/E ratio 5.80 9.10
PEG 0.10 n/a
EPS growth (%) 58.00 (34.00)

16 Nov 2017 24 Nov 2017 Interim 1.75p GBP Paid
12 Jul 2018 27 Jul 2018 Final 3.25p GBP Paid
29 Nov 2018 07 Dec 2018 Interim 1.8p GBP Paid
18 Jul 2019 02 Aug 2019 Final 3.4p GBP Paid
21 Nov 2019 06 Dec 2019 Interim 1.8p GBP Paid
22 Jan 2020 29 Jan 2020 Special 16.3p GBP Paid

Would really appreciate a current investor's view prior to getting in.
Prime People share price data is direct from the London Stock Exchange

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