Smartspace Software Share Discussion Threads

[millsawm] 27/6/2007 13:50

Great Job Garth. Thanks for all your hard work. Shame it had to end so soon, and at such a low price.

[mistertibbs] 27/6/2007 11:06

May I also thank you for all your work in this Garth. Very poor of me not to say so before now.

To avoid legal possibilities with DTE, maybe a wee look at BVM would not go amiss. I have not invested in it, yet, although it looks more of a stable prospect/slow mover if you like. Higher p/e but turnover set to almost double this year.

[tanners3] 27/6/2007 10:18

Price now will do for me. Selling 80% but will stay in the sector, which is bouyant, buying IDD and maybe a few igp.

[spud] 27/6/2007 08:06

A cash offer from Advanced Smartcard Technologies (SMRT) helped its shares top the leaderboard. The group confirmed that it had received a 7.25p per share offer valuing the business at 18.7 million pounds. The approach comes from Trainline Investments, a unit of Exponent Private Equity. The terms of the deal represent a 56.8% premium over Monday's closing price. The deal came as the software company reported operating losses of 47,000 pounds for the six months to 31st March. The shares finished 2.375 higher at 7p.

spud

[garth] 26/6/2007 17:26

Longshanks,

That was my thought. Figure mentioned on the thread was a few '000K but directors have made no provision in the belief that they have a strong case. PE looks to be about 11 with 30% growth from memory of the quick look I had this morning.

G.

[longshanks] 26/6/2007 17:20

Just to follow on everyone else, Garth. Thanks for all your hard work and decent coverage of this stock.

DTE does look interesting...only possible blip on horizon is the impending legal challenge from MMI. Board seem quite optimistic but haven't made any provision for any protracted case and/or damages.

[theo13] 26/6/2007 16:47

It took nearly 2 months to get the money for my shares when Computer Software CSW was bought out, & it can take up to 3 months according to Robbie Burns in his book The Naked Trader. He recommends selling, so this time I have sold mine immediately @ 6.98. Should be able to make up the difference by re-investing it - I hope!! Worth waiting if you have a really big stake though.

[kc101] 26/6/2007 16:40

thanks for the reply garth.
i'm going to hold on as £600 difference.
hopefully won't be too long

[garth] 26/6/2007 12:36

KC,

it would be after the AGM. The market is offering 6.98p for them today. Judgement to be made as to whether you sell today and take the cash or wait for a bit more later. Might depend upon the size of your stake.

Anyone care to comment on DTE? Released results this morning, beat forecasts. Look interesting, low pe. Haven't looked at them before. Does anybody have any prior knowledge? The ADVFN thread looks quiet, which is sometimes a good sign ;0)

G.

[kc101] 26/6/2007 12:31

when are we likely to receive the money for our shares?? anyone help?

[theo13] 26/6/2007 12:02

Thanks from me too Garth, I have really appreciated all the in-depth and wide-ranging info you have posted on the thread. I had intended to keep my shares in SMRT long term too, ;o( .........but I guess in these uncertain times a profit is a profit.

[awilson] 26/6/2007 11:59

Thankyou Garth - the profit is nice and your guidance has helped enormously.

But like every other long term holder, I was looking a year or two ahead when the share price would almost certainly been several times the current takeout.

[bonty] 26/6/2007 11:28

Thanks Garth I'l check them out.
B.

[daru57] 26/6/2007 11:22

Thank you Garth for keeping us so well informed on SMRT. Your information has always been accurate and perceptive and I , and am sure a lot of others , have as a consequence felt secure and confident that this company was a winner. Like you I had hoped for a longer term holding with a larger return but I really have no cause to complain with a handsome return in a short time.

[bigchrisrogers] 26/6/2007 11:08

Thanks for your research and input Garth. I was also hoping for the longer term on this. Never mind, bird in the hand and all that.

[garth] 26/6/2007 11:08

Bonty,

James Cropper(CRPR)(£21m market cap)the paper maker have a very interesting little division tucked away. Technical Fibre Products(TFP) made £2.1m of profit in the year's results just announced and are showing strong growth. Looks to be a real gem.

Cropper announced with their results their attention to move to AIM. That has resulted in some selling - presumably by ISA holders (and maybe some institutional portfolios aimed at fully listed companies?)

CRPR have very good asset backing, have a progressive dividend policy and are on a pe of around 10 times. They are highly cyclical and got hammered on energy costs last year. But if TFP were spun out I reckon it would command a 16x to 20x rating. At 20X that would be double the value of Cropper's current market cap.

The company has a property portfolio that hasn't been revalued in years.

The price may remain choppy for a bit and they are never going to give the sort of returns that SMRT promised but I'll probably be using some profits to add to my position there. Seems like a good place for some of my cash until I find another SMRT.

245p to buy. I reckon there is 500p of value there waiting to be realised. But that is not advice to buy.

G.

[bonty] 26/6/2007 10:51

Well done Garth, and thanks for all your hard work on this thread.
Where next??

[mistertibbs] 26/6/2007 10:43

I'm chuffed to bits for you Garth but as you rightly say, I am also gutted at this. Great technology with so much ahead of it. Damn.

Now time to concentrate on my remaining portfolio.

Andy

[garth] 26/6/2007 10:02

Well, well, well. Just logged in again having scanned the news for interims first thing. I wasn't expecting that...... Have to confess to feeling a little stunned. Having worked SMRT up to an unhealthy percentage of my portfolio (and having added a few more towards the end of last week) on one level its nice news. On another level I feel completed gutted. I'd dug myself in for the long term and planned to take first profits at 12p - then 20p, then 30p.... What to do now? I'd even raided some ISA funds to move in here...

I'd agree with the comments posted this morning that would have hoped for a little more. 65% of shares already given irrevocable undertakings on though. I assume that means its all sown up - even though they make reference to the eventuality of a rival bid?

Thank you for your kind congratulations guys.

Nyami - what next? I'll let you know when I've had time to process another cup of strong coffee!

Would rather still have them independent.

G.

[longshanks] 26/6/2007 09:48

far too cheap...but...a profit is a profit.

Too much of this is controlled by Directors for any other likely offer to come forward - so it must be more or less a done deal.

[spud] 26/6/2007 09:37

Garth - I think the header is out of date ;o)

spud

[rcktmn] 26/6/2007 09:36

So what happens now ? and what is the timetable ? if we have an online account do we see a cash £sum added equiv to 7.25p and the SMRT shares disappear ?

appreciate any confirmation on this

thanks

[hewhodares] 26/6/2007 09:27

Nice one Garth, will toast your health this evening.....Thanks.

[huttonr] 26/6/2007 09:04

Garth - thanks for all your hard work.
It seems to me that Trainline are getting it on the cheap - is there any hope of another offer emerging from the workwork? 10-15p looks like a fair price?