Share Name Share Symbol Market Type Share ISIN Share Description
Spectra Systems Corporation LSE:SPSY London Ordinary Share COM SHS USD0.01 (UNRES)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 170.00 51,038 00:00:00
Bid Price Offer Price High Price Low Price Open Price
165.00 175.00 170.00 170.00 170.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 12.27 4.39 8.13 18.6 75
Last Trade Time Trade Type Trade Size Trade Price Currency
16:34:41 O 25,000 167.00 GBX

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Date Time Title Posts
03/2/202310:08*** Spectra ***5,923

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Posted at 07/2/2023 08:20 by Spectra Systems Daily Update
Spectra Systems Corporation is listed in the Support Services sector of the London Stock Exchange with ticker SPSY. The last closing price for Spectra Systems was 170p.
Spectra Systems Corporation has a 4 week average price of 165p and a 12 week average price of 145p.
The 1 year high share price is 175p while the 1 year low share price is currently 122p.
There are currently 44,345,847 shares in issue and the average daily traded volume is 20,329 shares. The market capitalisation of Spectra Systems Corporation is £75,387,939.90.
Posted at 19/1/2023 09:42 by brucie5
Someuwin, thanks, if true, that's an exceptional note for SPSY's prospects. I remain a very happy holder having added recently. This share suits my priorities of yield + capital growth and I'm sure I'm not alone.
Posted at 18/1/2023 12:44 by someuwin
WH Ireland

Sector Comment
Challenges and opportunities
Bleak expectations for the UK economy in 2023 anticipate underperformance against other G7 countries based on factors such as (a) the UK’s higher than average mortgage rate sensitivity and (b) relative exposure to high gas and energy prices. Some measure of political / economic stability has returned, though this arguably remains a brittle quality, given the scope for dissent within the Conservative party and the unpredictable impacts of industrial action, among a range of factors. All of this said, we still see opportunities among some of our more topical UK-focused stocks (see below), and there are also some key junctures to highlight, which have the potential to generate significant value creation in our opinion. Taking a broader view, and allowing for continuing inflation / downside risks, we view relative US economic recovery as a theme for FY23E on the basis of consensus economic forecasts, and highlight opportunities accordingly (4imprint, AIM:FOUR, mc: £1.3bn and Water Intelligence (AIM:WATR, mc:£105.9m). We also highlight Spectra, (AIM:SPSY, mc: £78.8m).

...Our Spectra Systems projections extend to five highly predictable forecast years, a virtually unprecedented state of affairs both for SPSY and for the majority of quoted companies . We would highlight SPSY’s quality of defensive growth, given the long-term contractual nature of its earnings and its super-eminent relationships with key clients; secondly, its propensity for upgrades has been repeatedly demonstrated; moreover we see significant IP-led growth prospects both in banknote and in other authentication technologies / markets, and with increasing scope and focus on M&A to open new growth markets. Last but not least, we would highlight exceptional dividend and cash yields.

Posted at 21/12/2022 10:31 by pj 1
ref witholding tax

Apologies for raising this repetitive issue once again but it vcould have a positive effect for other investors here.

I have held SPSY in a few accounts including HSBC investdirect. Despite complaining twice that they were witholding 30% and not 15% they dismissed my complaints with a very long reasoning I am honest enough to admit I did not understand or have the energy to challenge.

I moved most of my SPSY to HL who only charge 15%

Anyway, I have today received a letter from HSBC admitting they have charged 30% in error (a system error which obv is not totally honest)and a refund of the 15% plus 8% interest, although they have then deducted 20% to forward to INLAND REVENUE.

I recall fellow investors here having the same issue with I believe Halifax and others? I hope this is of some use to you in your attempts to claim back any witholding tax.

Posted at 15/12/2022 21:46 by pj 1
Certainly some buying pressure today, Im surprised it didnt move the share price more, hopefully its an indicator the MM are now holding the last stock from a departed seller at this level?
Posted at 11/11/2022 15:15 by fozzie
Same story over at STCM.L although I think peeps are catching on. Could have bought at your leisure over the last months at 31-36 and now even at 49 you can lock in a 10% divi paid in December and a further divi expected next July giving another 10% plus an appreciating share price AIMHO You can lead a horse to water ...
Posted at 13/9/2022 18:48 by vprt
Brucie5 (+Robsy2): Thank you very much, but I am not sure if this explanation will make you less confused...

Yesterday the SPSY market cap was said to be £62m when in reality it was ca £72m. The EV was therefore also ca £10m too high. EV-based valuation multiples are/were wrong due to this. I like to look at the "Value" view of my Stockopedia "Folio" and have sometimes found that EV/EBIT was stated as ca 9x when in reality it was ca 11x when I calculated it myself (of course mindful of the $/£ conversion and also of including both SPSY and SPSC shares in the share count). Try it for yourself.

It really irks me that I have made quite a few (top-up and slice) investment decisions whilst comparing Stockopedia's EV/EBIT multiples (or their inverse; the % earnings yield) across my portfolio, and that I am paying for a data service with (in case of SPSY) very inaccurate data which I thought I could trust.

The error is probably smaller today than yesterday because the SPSC and SPSY prices are closer to each other. (I have not done the calculation today). The error varies.

BTW, Stocko seem to use the (SPSY, rather than SPSC!) share price and EPS to calculate SPSY's PE ratio (rather than market cap and total net income), so the PE multiples seem not to be affected in the same way that EV-multiples are.

PS: Someone at Stockopedia is now - again - looking at this - as they did 6 months ago without solving it; I am not holding my breath...

Posted at 13/9/2022 10:44 by vprt
Only relevant for Stockopedia subscribers: Even Paul Scott has now used Stocko's inaccurate figures (£62m market cap, they say!) to make his judgment. I have highlighted Stockopedia's problem with SPSY (and SPSC) valuation metrics before, and yesterday I posted the below as a comment to the SCVR (and also sent a message to the Stockopedia team) - they have had many months to fix this with no action:

Yesterday 3:08 pm
Paul, please be aware that the Stockopedia numbers for SPSY are seriously messed up. (This bug is an old bugbear of mine which your colleagues never find time to prioritise). Check the market cap for a start (and EV) - just multiply the shares with the share price and see how accurate the Stockreport is.... (You may want to correct this error in your article, BTW). This error flows through to most valuation metrics (certainly the EV-based ones I like to use, possibly not PE to the same extent).

My hypothesis (from looking at this in the past) is that the error is caused by Stockopedia choosing to use the SPSC share price to "drive" metrics for both SPSY and SPSC. (SPSC last traded at 150p, and was stuck for months on 135p and very rarely trades, so a poor choice). Would you be brilliant if you could raise this...

So, warning to all: Do NOT trust the StockReport/Stockopedia metrics for SPSY!

I hold. Thanks for a good write-up and reader comments.

PS: Reporting my own post in case it helps the team think about / look at this again"

Posted at 17/8/2022 06:26 by sonofbanjosinger
Anyone that has been looking at the short term graph of Spectra...maybe disappointed with the performance.But looking at five year graph which is really where you should be looking with a share like this ... The uptrend of the share price is clearly intact with a solid growth in the share price of 78 percent ...dividends doubling to 11 cents in this time with a total dividends in 5 years of 48c ...l don't have to remind too many people where this was trading 7 years ago. This now yields 7.5 percent ... Which is into cigarette territory where there is zero - two percent growth.Finally we have a PE ratio of around 15 that when you minus cash is just above tell me what's not to like about Spectra .,..
Posted at 28/6/2022 07:46 by investoree
The RNS below explains one of the 200,000 sells shown yesterday, which was conducted at a much more sensible price than the earlier market purchase conducted many months ago at around £1.73.

I wonder if we will see another RNS for the other 200,000 SPSY shares?

Pity I couldn't have bought some at £1.30 per share instead of buying at a substantially higher level.

The board of Spectra announces that on 27 June 2022 WH Ireland Limited purchased for cancellation 200,000 of Spectra's common shares (unrestricted line with ISIN US84756T1060) at a price of 130 pence per share. This purchase was made in accordance with the Company's Byelaws and with a board authority dated 8 April 2019 for up to 4,500,000 of the Company's shares to be bought back. A total of 1,346,000 common shares have been purchased and cancelled under this authority.

The Company advises that, following this purchase and cancellation, the Company's issued share capital now comprises 45,294,677 common shares as follows:

-- 1,148,830 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and

-- 44,145,847 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).

Spectra Systems has no Shares in treasury, therefore 45,294,677 may be used by shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Hopefully this bodes well for the future, although I wonder if the seller knows something that we don't which prompted what looks to me a bit like a fire sale. IE

Posted at 08/2/2022 12:59 by vprt
Relevant for Stockopedia users only - update to my post 5440 on 8 December:

I complained again a few days ago about the SPSY data (e.g. EV, EY% and EV/EBIT multiple) still being wrong, and a new dialogue with Stocko today had two outcomes:

(1) Stocko say they are not going to do anything about this error for months as they are busy with platform changes. Not great... But at least they responded.

(2) I now suspect that the underlying problem MIGHT be as simple as the SPSY valuation and stats running off the SPSC share price (which trades only once in a blue moon - only one trade so far in 2022 - and with the price way off and static for weeks - now showing 135p. This - if it indeed is the real, underlying reason - could explain undervaluation and the numbers appearing to be completely "frozen". The total share count is the sum of SPSC and SPSY, which I believe is correct, but Stocko's market cap and EV appear to be using the SPSC share price - which is obviously the wrong choice among those two when it hardly ever trades.

Feel free to mention this issue if you are in touch with Stocko - including my latest thought on what might be causing the problems... (The person I communicated with did not know if this was a small or a big thing for them to fix).

In the meantime, do NOT trust Stocko's data on SPSY.

Spectra Systems share price data is direct from the London Stock Exchange
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