Solid State Share Discussion Threads

[spectoacc] 21/9/2016 15:29

Gangbusters. Forgot to say, I found a mention for SOLI in last week's MoneyWeek, of their top 5 family firms. Doubt responsible for much of the rise.

[spectoacc] 19/9/2016 13:10

Nice rise today, not sure why - a mention in the Sundays perhaps?

[my retirement fund] 08/9/2016 14:10

Director buy ....Hey big spender

[martinthebrave] 01/9/2016 09:46

Topped up on the dip today. Prior to the first profit warning surrounding the MOJ contract last October SOLI were trading at 725p. A 50% discount seems too good to refuse for what is basically a cracking little company that lost a contract - imo.

[tromso1] 01/9/2016 06:40

Ex dividend today.

---
Dividends

The Board is recommending a final dividend of 8p. An interim dividend of 4p per share was paid on 26 February 2016 giving a total dividend for the year of 12p per share (2015: 12p). Dividends were 4.15 times covered in 2016. The final dividend will be paid on 23 September 2016 to shareholders on the register at the close of business on 2 September 2016. The shares will be marked ex-dividend on 1 September 2016.

[spectoacc] 01/8/2016 11:40

Yielding nearly 3.7% at £3.25 too.

[rhomboid] 01/8/2016 11:20

Well all the 3.25 sells were my buys this am so liquidity is still there, I think I'm pretty much up to the size I feel comfortable with here given the MCap. However I've not seen many more attractive valuation anomalies than this , PE under 7 , net cash, ROCE near 30% and trading well as per recent RNS , what's not to like?

[spectoacc] 29/7/2016 12:03

:) Good luck @rhomboid.

[rhomboid] 29/7/2016 11:51

I should add that all those at 3.25 are buys so there's decent liquidity for anyone looking to buy.

[rhomboid] 29/7/2016 11:49

Nope that's me topping up in various accounts.

[spectoacc] 29/7/2016 11:22

String of small buys, guessing it's had a tip somewhere?

[rhomboid] 23/7/2016 11:29

I took a small position this week and I'm now looking closely at the numbers , the only oddity I could see was the reliance on an O/D of over £4m as working capital. If I'd have been FD I'd have trouble sleeping knowing that could be withdrawn at any time and Llloyds had a fixed & floating charge!. Thankfully the MofJ settlement has cleared it and then some but it looks a very unstable source of funding and I'd not want it to recur.

[varies] 23/7/2016 09:39

SpectoAcc
Thank you. I should have looked at the previous posts before entering mine.
Your assumption seems plausible.

[spectoacc] 23/7/2016 06:57

@varies - were some posts above about it, was indeed odd, and the only red flag I could find before investing. Some explanation was needed - the assumption has to be a personality clash. Guidance was reaffirmed so fingers crossed it wasn't accounts-related! All a bit strange.

[varies] 22/7/2016 19:08

Having just received my copy of the Annual Report for 2015/16 I have noticed the resignation on 29 June 2016 of the Group Finance Director, Mr. Mark Nutter. This had been announced but I missed it.
It was "with immediate effect and by mutual consent" and the Chairman wished him well for the future.
The report for the half-year to 30 Sept 2015 told us of his appointment with effect from Jan.2016 "following a rigorous recruitment process". With his strong financial and commercial background it was believed that his expertise would be of great benefit to the Group.
Before Mr. Nutter's arrival the Finance Director was Mr.Peter Haining, who has been with Solid State for many years. He is aged only 59 and should, presumably, be able to resume this function. He is presently a non-executive director and the company secretary.
Let us hope that Mr. Nutter's departure does not reflect any misgivings about the accounts !

[spectoacc] 11/7/2016 10:13

One of MoneyWeek's "5 stocks to avoid inheritance tax" tips, given it a little boost & can assume the recent buyers are for the longer term...

[haroldthegreat] 06/7/2016 20:26

any views on this?

[linhur] 29/6/2016 22:57

It might look like the FD has taken one look at the accounts and has seen too many black holes such as stock valuation or costing not correct.
Does not look good.

[luffness] 26/5/2016 11:30

gooner108 - shouldnt you declare an interest ie that you are being paid by research-tree

[redartbmud] 25/5/2016 21:11

At least it draws a line in the sand under what has been an unsatisfactory venture that could have been transformational for the business.

Metier9
Are you still around?


red

[glasshalfull] 25/5/2016 09:54

In my April update I mentioned that brokers were suggesting that SOLI may be in receipt of few £million in respect of the cancelled MoJ contract.

Therefore delighted with this mornings RNS which indicates that their cash position has moved +£4m although they are not permitted to disclose the actual settlement amount.

WH Ireland provide the following update,

"...subject to a confidentiality clause hence cannot be disclosed. However, the company flags a pro-forma net cash position as at 31 March of £350k, this comparing to our net debt forecast (pre-MoJ) of £3.6m...imply a net cash movement in the order of £4m and would represent a very satisfactory outcome in our view (our note of 22 March categorised a meaningful settlement as any amount over £2m).

We previously removed MoJ from our forecasts (and would treat any settlement as a one-off in any case) hence there are no changes to forecasts this morning save for a +£4m swing in net cash. Note that the reported PBT figure is now expected to be circa £4.1m although this will be net of expenditure write-offs and write-backs in relation to the project.

We believe the settlement to be favourable and at the better end of realistic outcomes. Solid can now move forward without the distraction of the MoJ and with a stronger balance sheet. The current year P/E of sub-10x and near-4% dividend yield is too low – closest peer Acal (ACL) trades on 16x with a 2.9% yield. We remain at Buy with an unchanged 478p price target.

Regards,
GHF