Spaceandpeople Share Discussion Threads

[eastbourne1982] 17/7/2018 08:35

Will be interesting to see what the cash position is at the next results as this looks ridiculously undervalued.

[25october1969] 17/7/2018 08:00

Interesting goods news RNS

Good news in that contract renewed for 5 years. Interesting that they are struggling to find their identity. The company is referred to by 6 different names in a short RNS and one of them "Group" is not actually used in the RNS

Some mornings you just wake up feeling pedantic.......still good news though


SpaceandPeople PLC

SpaceandPeople plc


("SpaceandPeople" or the "Group")

AIM:SAL)

Space and People




SpaceandPeople PLC Renewal of Contract
17/07/2018 7:00am
RNS Non-Regulatory

TIDMSAL

SpaceandPeople PLC

17 July 2018

SpaceandPeople plc

("SpaceandPeople" or the "Group")

Renewal of Contract

SpaceandPeople has renewed its exclusive contract with M&G Real Estate for experiential marketing, mobile promotions kiosks and pop-up retailing opportunities across its wholly-owned portfolio of shopping centres

SpaceandPeople plc (AIM:SAL) is delighted to have extended its exclusive contract to manage the promotional and retail space across M&G Real Estate's wholly-owned portfolio of shopping centres for a further five years.

M&G Real Estate's portfolio of shopping centres includes The Galleries Washington, Cwmbran Centre, The Friary Guildford, Ayr Central, Culver Square Colchester, Fremlin Walk Maidstone, Brunswick Centre Scarborough and Gracechurch Centre Sutton Coldfield.

Matthew Bending, Space and People CEO, said:

"I am delighted that M&G Real Estate, one of our longest standing partners, has chosen to renew its agreement with us for a further five years. We look forward to successfully growing our relationship with them even further during this period."

For further information, contact:

[arthur_lame_stocks] 16/7/2018 19:53

There's so little interest in this company, the last one I had a bit like this was AIEA and they did nothing for ages whilst I collected a pretty good dividend then suddenly shot up. I can see that it might be tainted by the retail industry's woes but AFIAK retail is now less than half their business.

[andysand] 06/6/2018 14:04

This looks like a stunning investment. It's very boring but that is usually a good sign. I suspect the end game will involve the company being bought. Until then, just keep taking the dividends!

[kangaroo joe] 26/4/2018 18:45

Mine appeared today in my broker's account.

[eastbourne1982] 25/4/2018 21:41

Dividend should have been paid today however I have not had payment yet, anyone else noticed a delay ?

Cheers

[ntv] 24/4/2018 17:48

no agm statement
anyone go and if so any thoughts?
tia

[topvest] 23/4/2018 20:57

Its got a good cash generation record over the last 5-10 years; its paid good dividends and repaid all its debt. Not risk free, but there are profits to be made. Possibly a bit small for many PE players, but no doubt Gresham House could facilitate something if needed.

[boonkoh] 23/4/2018 20:06

The cash flow is not stable because the German contracts are coming up for renewal and the UK ones are not massively long?

[topvest] 23/4/2018 19:36

I can see this possibly being the subject of a takeover bid at some point. It would make a good private equity target given the strong cash flow. Management would also be able to participate no doubt, whilst cashing in their holdings.

[jaykaytee] 23/4/2018 16:42

Just had a sneaky top up.
I expect these to be well over 40p in the next few months...imo.

[cerrito] 03/4/2018 14:24

topvest, after all the setbacks of recent years I can understand their caution on dividend policy and to avoid having to cut it again
Too bad AGM in Glasgow and it is not practical for Me to go there and appreciate input from anyone who can make it

[topvest] 31/3/2018 14:42

What's odd is that their dividend forecast for this year of 1.6p is very cautious. They have repaid their bank borrowings, so could pay a bigger dividend next year. Otherwise, I'm a hold rather than a buyer. Simply don't want to double-up on what has been a losing share for me.

[topvest] 29/3/2018 21:15

Yes, it does seem a bit of a bargain at £6m. Its not a bad company, and generates very good cash flow. Could be a bid target at this level.

[cerrito] 29/3/2018 21:12

A_L_S
I am rather mystified why the price is so low for the reasons you mentioned and am hoping to make the AGM- I have held off and on for 7/8 years and have yet to make one

I recognize that people will be put off by small marcap, wide spread, inability to date to make s real go of it in Germany and that France did not hsppen and declining retail footfall in UK.

FWIW,I see that Equity Development have a very small decrease in profits this year

[arthur_lame_stocks] 29/3/2018 18:44

I've just been taking another look at these as I made some money on them last time they slumped. P/E of 6, div yield 5% balance sheet ok although they have exagerrated net cash somewhat as net current assets are only about £1m.

The board seem reasonably confident that this year will be ok although that could all change I suppose. I don't know if this has just been marked down as it's retail related but if they can carry on making these sort of profits and paying a 5% yield they don't look a bad buy to me.

What do others think?

[1fox1] 29/3/2018 15:24

Have I got this right. Ex dividend date is 12/04/2018 Dividend payment 1.5p?

[eastbourne1982] 26/3/2018 23:04

You have to wonder if they are considering a management buyout.

If they took this out for 10 million and continue to turn things around it could look a pretty cheap deal in 2 to 3 years.

[topvest] 26/3/2018 20:52

That discount rate is definitely too low. Doesn't really matter though. At the end of the day its making a reasonable return. If they can grow the business its worth a lot more than the current share price. They are an innovative team so happy to hold for now and collect the dividend. Hopefully, more progress and less mishaps to come!

[eastbourne1982] 26/3/2018 19:12

Strip out the cash and this is valued at less than 4 million, seems ridiculous given the turnaround and the healthy profit, this could easily be valued at 10 million and it wouldn't look expensive.

It's a waiting game.

[cerrito] 26/3/2018 17:37

I see that the discount rate they use for goodwill impairment calculation is a very low 3% and one wonders what impairment they would have if they were to have a more realistic discount rate...a question for the AGM

[cerrito] 26/3/2018 13:54

Today’s figures good reading although quite a lot anticipated in the Jan 15 trading update which may explain the share price fall this morning.
That said, I was expecting H2’s net cash operating inflow to have been higher than £0.4m as we had been told that £0.7m was not disbursed before year end. We also need to recognize that net revenue in H2 was £5.2m compared to the £8.3m and £7.8m in H2 2014 and H2 2015 respectively,
Dividend cost of £300k easily coverable and was pleased to see that in UK promotional, traditional shopping centres are less than half total revenue.
Have no interest in selling but may wait to see if I can make the AGM before buying.

[ntv] 26/3/2018 10:38

and down it goes on little comment

[robbothered] 21/3/2018 09:03

Not sure how this can be viewed as "good news"? Clearly Germany has not gone to plan, they have a reduced portfolio and by losing any MIG's is a clear sign that they have not performed to date. After eight years of working with ECE they are unable to attain profitability and a 12 month extension suggests being in the "last chance saloon"!