Rethink Group Share Discussion Threads

[jammytass] 07/7/2012 18:29

looks like a bids on the way this year !!! 20p?

[stegrego] 06/7/2012 21:37

I saw that trade last night and wondered what it might be. That's around 100 grands worth, a bit of a statement I'd say and possibly will mark the bottom here.

Pity the spread is so wide at the moment.

[glasshalfull] 06/7/2012 15:16

Paleje - Hopefully received a number of emails. Interested in your thoughts.

Nice vote of confidence from the FD just announced in buying 1.4 million shares which equates to over 1.26% of the company. No wonder I was struggling to buy within spread latterly.



The Company announces that Steve Wright, Finance Director, yesterday purchased 1,428,571 of shares at 7p per share in the capital of the Company. Following this share purchase, Mr Wright now has an interest in 1,428,571 shares representing approximately 1.26 per cent. of the issued share capital of the Company.

Regards
GHF

[pj 1] 06/7/2012 10:14

Guesssing the large trade was a transfer of shares?

[paleje] 06/7/2012 10:11

I was wondering if the banking problems might adversely affect these, there's a lot more to come, but actually might provide opportunities because there could be more IT work around if banks have to split.

Chat with CEO sounds interesting GHF, I can see mail in my inbox thanks, cant access attachments on phone well I can but its clumsy, in sunny Helsinki, back on weekend.

[glasshalfull] 05/7/2012 18:11

I've bought a few over last few weeks after talking with the CEO who assured me over the earlier concerns I documented on the thread.

Don't know if this is currently bottom but the fact that buyer today had to pay over the offer and I've not been entertained well within spread as previous suggests stock may be tightening up.

I'll post further when opportunity presents.

paleje - Email you later

Regards
GHF

[pj 1] 05/7/2012 16:58

Looking at the volume today something may be changing!!! Wonder if the beat the spread?

[paleje] 04/7/2012 14:58

Think I can see it now.

He has to satisfy criteria re Aiimi to qualify for the options.
The old options (10.25) had to satisfy the criteria between Dec 2011-Dec 2013.
The new ones (10.88) have to qualify between 2012-2014, they don't state the months (might email them).

So effectively he could be getting an extra year to satisfy the criteria, the trade-off being the new options are set a bit higher.

Both old and new were exercisable up to 2022 so no change there.

It tends to suggest they might be motoring a bit slower than they thought. TU due soon if they repeat last year.

[pj 1] 04/7/2012 14:20

No my strong point, Maybe he hasn't got the cash to buy the option, or were they totally performance related bonus?

[paleje] 04/7/2012 14:16

What's todays RNS all about then, it looks as if Steve is relinquishing 10.25p options in favour of 10.88p options therefore setting himself a higher bar. Not that he should have any difficulty meeting the target but at least it means the share price has got to increase 50% before he's in pocket.

[paleje] 20/6/2012 17:15

The spread's daft but so is the 7% drop on a couple of thousand quid trade.

I keep mulling that 10 May statement, only a few weeks back, and wondering where the pothole is or maybe there isn't one and they'll do just as they say in H2, their delivery record is good so far. TU in July I think, we might kick ourselves by then if we haven't done the decent thing...I'll teeter a while longer though.

"Further investment has been made since the start of the year, particularly in fee earners, in order to support and sustain the Group's strong organic growth in income. In line with prior years' experience, we expect this strong growth to continue into the second half of the year. In addition, the Group continues to consider strategic acquisition opportunities which support the Management's objectives of accelerating growth, improving revenue visibility and enhancing operating margins."

[pj 1] 20/6/2012 15:32

Could be due a bounce from here, but a 14% spread is a little off putting to say the least"!!!!

DYOR PJ

[paleje] 12/6/2012 15:15

I doubt I'll buying anything till after Greece unfolds, GHF, but I do think some stocks are getting attractive. I know what you mean about RTG and their receivables at £20m is highish nearly 30% of revenue compared with HVN under 20% revenue. Debt is short term via invoice discounting although they have facilities in place.

When's it right to buy, I don't know, instinct says hang on a bit. HVN dropped to 3x earnings in late 2008, could it happen again? RTG is 4.7 falling to 3.8 in 2013.

I noticed WORK blinked the other day then back to sleep, they made an appointment last month Hayley Brooksbank to MD Work Communications, it's not their strongest area maybe she'll beef it up.

Sorry going OT here, but best regards anyway.

[glasshalfull] 12/6/2012 14:03

Paleje - I think you're correct. Sector v weak at the moment and likes of HVN failed to make headway despite bullish update.

RTG are on an inexpensive rating if you simply consider them on an EPS / PER basis...BUT...my issue with RTG is that net debt sat at £7.1m (31/12/11) and they keep flagging an acquisitive policy which certainly concerns me, especially when reported cashflow ain't good (£0.05m generated from operating activities 31/12/11). Little room for manoeuvre should the unexpected happen (we remember EMR and Germany legislative changes which wiped 70% off the shareprice).

Also, trade and other receivables amounted to £20.2m at end of 2011, up £5.5m on previous year.

So, on an EV basis they are still cheap but not screamingly so IMHO.

Regards,
GHF

[paleje] 12/6/2012 13:35

Both, in my opinion, but the market could be overdoing the gloom for the sector.

[pj 1] 11/6/2012 17:00

Is this a buying opportunity or a reflection of the sector?

[paleje] 16/4/2012 10:07

GHF,

Trust you're well, just seen your post, I only know these by name, my son's come across them when he was doing banking for sthr, if anything interesting I'll email you. Cheers.

[glasshalfull] 13/4/2012 17:36

O/T post for Paleje - I'd be interested on your take in relation to Work Group (WORK) if you get the opportunity.

Happy for you to post on relevant thread or via email

[e-mail]



At 12.75p mid WORK has a market cap of £3.56m. Finals to 31 Dec 2011 show a net-cash balance of £1.34m so it is currently on an EV of approx £2.22m.

Two businesses; Armstrong Craven that is probably worth north of entire market cap and Work Communications now turned around (accounts for exceptionals) with recent start ups in Hong Kong and New York now profitable.

They have been restructuring for a couple of years but H2 2011 showed a much improved performance with a pre-exceptional PBT of £588k for the six months. A few years ago this company generated large profits and traded at six times the current share price.

Current year broker forecasts of £1.1m PBT equating to an EBITDA of approx £1.22m. That's an EV / EBITDA of 1.82 which is cheap IMO for a company with real growth potential.

So prospective PER of 3 with net cash on balance sheet.


Regards,
GHF

[pj 1] 13/4/2012 16:49

Hays issued positive results yesterday, share price rose 8% on the back of that. Some concern that UK is tough (as if we didn't know)! RTG seems to have a strategy to beat that

[foxman14] 04/4/2012 12:46

Bought in on 19th March as they look well undervalued. We may get some movement in the price when they announce the dividened date and/or if the earnings estimate for this year is upgraded. The forcasted EPS is still at 1.5p when they made 1.42p this last year. Otherwise I agree we will have to await a re-rating for the recruitment sector. I am in a similar position with my Impellam (IPEL) shares.

[pj 1] 03/4/2012 10:19

Possible concerns over the Sector? Recruitment has been hit last few years, However, these seem to have found a way around it building relationships. Must be a target for a Bid at this price if any other recruiters have cash............

[this_is_me] 03/4/2012 10:11

Bought some today for the long term. There seem to be plenty of shares in the market. It looks like a stock overhang.

[pj 1] 03/4/2012 09:51

Maybe I'm the only PI in here lol

2011 Results.....EPS doubled, very positive future looking statements, underlying growth of 20%. Forward PEG (own) 2012 0.32, 2013 0.26

Forward P/E 2012 x6, 2013 x5, Historic 2010 x12, 2011 x6, must be due a re-rating at least?

[pj 1] 16/3/2012 12:54

Notice of Final Results
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TIDMRTG

RNS Number : 4324Z

Rethink Group (The) PLC

16 March 2012

16 March 2011

Embargoed until 07:00

The ReThink Group plc

("ReThink" or the "Company")

Notice of Final Results

The ReThink Group (AIM: RTG), one of the UK's leading recruitment and consulting companies, will be announcing Final Results for the year ended 31 December 2011 on Tuesday 03 April 2012.

The management will be hosting a presentation for analysts on the day of results at 9.30am at the offices of Newgate Threadneedle: 3(rd) Floor Aldermary House, 10-15 Queen Street, London, EC4N 1TX.

Analysts who wish to attend the presentation should register their interest with Fiona Conroy, contactable at [e-mail] or 020 7653 9847.