Rtc Share Discussion Threads

[mickharkins1] 07/6/2016 07:54

My guess would be Oryx approached management asking them to sell, as they wanted to take a stake but would be too illiquid to do so in the open market.

Whatever the scenario, I only see it as a positive.

[shanklin] 07/6/2016 07:51

Presumably Oryx has been given a non-business related reason for the sales or they would not be such enthusiastic buyers.

[pj 1] 06/6/2016 20:52

I wonder what Pendlebury CEO wants £510k (and counting) for?

[rivaldo] 05/6/2016 22:50

I bought some of these before the close on Friday to take advantage of the dip.

After my earlier post, I spoke to a couple of people who are already investors in RTC and was reasonably reassured.

Having been following RTC for aeons this seemed like a good time to buy in. The interims next month will imo almost certainly be good given that if they weren't the reputation of the CEO would be ruined forever having flogged a tranche of stock to someone with the reputation and status of Christopher Mills.

The involvement of Christopher Mills (being Oryx's fund manager) in a microcap stock like RTC has to be extremely encouraging.

[glennborthwick] 03/6/2016 15:43

just reading up on oryx. they seem quite hands on and "activist" - last 5 years results have been pretty good as stock pickers;


5 year rise in NAV of 86% over the five years to 31 March 2015, is as a result of Christopher Mills and his team both building and realising value through active management of the company’s investments

[glennborthwick] 03/6/2016 15:36

not sure whether I'm happy a decent institution is taking an interest as in my experience this does move rtc into a new category or irritated by the director sales. I'm happy to see this run its course. Decent dividend, recruiters website seems very busy for Ganymede s well, especially the plumbing acquisition.

[shanklin] 03/6/2016 15:11

Worth remembering that the company is still pursuing contract wins that would be massively material to RTC's P/L. It is for this reason that I have stayed invested for the last year during which the share price has done very little.

[mickharkins1] 03/6/2016 15:08

I see it as a positive that a new institution have taken this 6% stake from directors. Hopefully they are not finished and will look for some more in the open market.I just bought some and had to pay over the current offer.

[rivaldo] 03/6/2016 15:02

Not a holder here, but on my watchlist for ages. I note that only 14 months ago the CEO exercised 675,000 share options at 9p which were immediately acquired at 70p by the company EBT.

That same RNS then went on to say:



"Andy, who has been the Group's Chief Executive Officer for over seven years and has invested significantly in the Company, is still a substantial shareholder in the Company, holding 1,351,163 shares, representing 9.42% of the Company's enlarged issued share capital. Furthermore, Andy intends to maintain this holding for the long term as he remains committed to delivering the huge potential which the Board believes lies ahead for the Group and its shareholders."

He's now disposed of a further 657,500 shares at around 70p once again. I suspect his definition of holding for the "long-term" is a little different to mine :o))

[shanklin] 03/6/2016 14:31

Stegrego

As you state, its good that all the shares went to a willing institution.

Hopefully, Oryx will be an active shareholder here.

Cheers, Martin

[stegrego] 03/6/2016 14:24

All shares went directly to Oryx, a new major shareholder.
No idea why price is off so much, other than some people can't read or add up.

[shanklin] 03/6/2016 14:15

Can't say I am a fan of zero cost options whatever the associated performance criterion. I would much rather they have a strike price related to the price on the date they are issued, even if the options are over more shares. At least all shareholders then get to benefit from the rise in the share price and it doesn't just result in a disproportionate part of the Mkt Cap being siphoned off to management.

That isn't to say that all the shares sold today were held by Andy and Sarah as a result of options as they have both been buyers when the share proie was much lower.

Incidentally, CRITCH16, I have just spoken with davidosh and he has not sold any RTC shares in the last 6 months.

[tiswas] 03/6/2016 14:07

It does seem that Oryx picked them up, might have been helpful to mention that in RNS if that was the case.

[tiswas] 03/6/2016 14:06

Nothing to do with US jobs, it is directors sales a couple of days ago and just announced!

The Company announces that it has received notice that on 1 June 2016 Andy Pendlebury, Chief Executive Officer of the Company, disposed of 252,500 Ordinary Shares ("Shares") at a price of 70p per Share and 405,000 Shares a price of 69p per Share and that, on that same date, Sarah Dye, Finance Director of the Company, disposed of 100,000 Shares at a price of 70p per Share.

The new holdings of Andy Pendlebury and Sarah Dye are as set out below:

Director

Total Shareholding

% interest

Andy Pendlebury

798,663

5.5%

Sarah Dye

43,000

0.3%

Substantial Shareholder



In addition, the Company also confirms that it received notice today that on 1 June 2016, Alison Chapman, a substantial shareholder of the Company has disposed of 147,500 Shares at a price of 70p per Share and accordingly now holds 1,272,840 Shares representing 8.9% of the issued share capital of the Company.

[critch16] 03/6/2016 14:00

Looks like a reaction to US jobs miss. As for David, he has reduced his position substantially over last 6 months based on RNS declarations.

[tiswas] 03/6/2016 13:56

Odd time to be selling if david is right?

[ragehammer] 01/6/2016 16:27

Ex div tomorrow as well, don't forget. 2p.

[davidosh] 01/6/2016 16:23

Interim results will be out next month as they are always very pronto getting them released which is a good sign.

[critch16] 01/6/2016 12:10

Big sell just went through - 147.5k shares.

Boars has gone quiet too?

[glennborthwick] 27/4/2016 12:38

Anybody go the agm?

[bozzy_s] 18/3/2016 20:47

Well said and thanks again DD

[davidosh] 18/3/2016 00:05

If shareholders think it is too easy and want to set the targets at different levels why not engage with the company ? The Agm is on Wednesday 20th April at noon in Central London so all shareholders do have the opportunity to object at least this is before thae Agm so you have the opportunity to attend and discuss your views with the board.

If there are enough of us and with significant holdings then the directors will listen to our views.

I am constantly engaging with companies and too often they claim that other shareholders are not interested or have said they are in agreement. Most companies announce this after Agms have passed so all shareholders do have the opportunity to object but I suggest you contact the company by email to show your view on this in advance of the Agm then they are aware and prepared fully to answer questions as we want an engaging not challenging Agm.

Shareholders are the owners after all.

[bozzy_s] 17/3/2016 18:21

Many thanks Shanklin, really appreciated.

It caught my eye today, seeing over 1 million options outstanding at 0p per share - representing quite a chunk of the company. Those criteria do seem incredibly easy to achieve. A piddly 10% annual growth in EPS (after accounting for inflation) earns the option holders a combined £0.8m? Hmm.

[shanklin] 17/3/2016 16:29

The rules for the LTIP options awarded in 2015 are shown in the 2015 Annual Report which was loaded onto the RTC Group web-site yesterday.

AIUI, this is the relevant extract:

Awards under the LTIP
In 2015 three awards have been made, each award representing 50% of basic salary. Vesting of the awards is subject to the achievement of the performance criteria of the LTIP. Awards will vest and may be exercised on the third anniversary of the date of grant to the extent that the performance conditions detailed
below are met:
Annual growth in fully diluted EPS above RPI........ Proportion of award vesting
Less than 3%........................................ Nil
3%.................................................. 25%
Between 3% and 10%.................................. Between 25% and 100% on a straight line basis
10% or more......................................... 100%


IMHO the conditions are ludicrously easy to beat for a fast-growing company and the 0p exercise price is also highly inappropriate. Good job the company is executing well or a LTIP of this nature, which dilutes other shareholders for minimum good reason, would make me a seller of the shares