...and no buying. Apart from Heejai there is negligible holdings in the boadroom |
Persistent seller here........ |
Something doesn't smell right here. Reflecting on the cringeworthy presentation and lack of support. Feels like they are going lower still |
SWG could make a nice fit I'd have thought.I'm guessing that they'll do a couple of smaller additions before going for something bigger though.Very fragmented space, so plenty of private targets I'd have thought. |
Would a SYS/SWG combination make any sense.......? |
I think it'll do well over the next couple of years Chris. Interesting when the Chairman here first stepped into Scapa there was something of a kitchen sink job, before rapid growth and excellent shareholder returns.He's cleared the decks here and they've got the cash to kickstart it. |
Interesting recovery play for 25'...? |
Totally underwhelmed! |
Off the wall consideration - Heejae Chae could seek the CEO role of RCN and get a takeover for SYS at a good price. CEO of RCN Peter Brotherton is retiring. Or Adam Banks could end up at RCN :D |
We all should have bought SYS1 a few years ago, not SYS. |
Notice of Investor Presentation via Investor Meet Company
SysGroup (AIM:SYS), the technology partner for delivery and management of cloud, data and security services to power Artificial Intelligence and Machine Learning transformation, is pleased to announce that Heejae Chae and Owen Phillips will provide a live presentation relating to the Half Year Results via Investor Meet Company at 11:00a.m. GMT on 10 December 2024.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 09:00a.m. GMT on 9 December 2024, or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet SysGroup plc via:
Investors who already follow the Company on the Investor Meet Company platform will automatically be invited. |
Thanks chrisevo, certainly food for thought. I really thought that it was going to be different this time following successive new management teams failure to get this to grow. Some sympathy for AB with what he had to deal with but the shares languish at all time lows.
The lack of a bounce in the share price and a pitiful purchase by a PDMR suggests that there is little confidence in this turning round quickly! |
I'm trying to touch base with them. Used to speak with Adam Binks via the pr company, but they've been dropped!I'm assuming that the Chair has a clear direction, given the major investment he made when first getting involved and the strengthening of the board.That said, it would be good to hear more and be able to put some direct questions to him.I'll post if I hear back! |
Looks like they have started capitalising internal staff costs, presumably this is work on internal systems project. So that's going to hamper cash conversion ratio but also is another prop to EBITDA. 356k of it, mostly from this H1 25 reported (c.250k). Thats going to need to have its carrying value tested so hope the internal transformation is going well, though write downs will and its amortisation are below the EBITDA line so its a lever atm. At FY24 results investor call we were invited to attend the next one to watch it via VR headsets, wonder if that will still happen given all investor communications/Q&;A are denied at the moment. |
Disappointing - the previous CEO struggled to grow the business, but maintained cash, then ousted by the new incumbent. Does the new guy understand the market he is in? AI was his big thing, but everyone is getting into that arena. He needs to manage the cash better, and not just throw money around to 'transform' it into something less. |
I suppose that's a start |
Given that the relatively recent placing and subscription at 50% above the current price was over-subscribed there is a case for arguing the drop has been over done.
Someone has faith ...150k buy @ 23p.This market can be brutal when things don't go according to plan |
Thankfully I sold some in October 23 and have bought those back this morning. I was expecting to see the price lower...but not this far down.
Lets see if the insiders buy! |
Not the early stocking filler I was hoping for!Still, it's a changing business as we knew, so happy to suck the lemon and bide time. |
Back towards the lows again then |
 19 November 2024
SysGroup plc
("SysGroup", the "Group", or the "Company")
Acquisition & Notice of Results
SysGroup plc (AIM:SYS), the technology partner for delivery and management of cloud, data, and security services to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, today announces its acquisition of the trade and assets of Crossword Consulting Limited ("CCL"), the consulting arm of Crossword Cybersecurity plc.
Acquisition
The Group is pleased to announce the acquisition of the trade and assets of CCL for cash consideration of £311,000, with a potential post conditional payment of £127,000. Based in London, CCL is a recognised leader in cybersecurity consulting, offering specialised services such as virtual CISO ("vCISO") support and Penetration Testing to medium and large enterprises.
This acquisition strengthens our capabilities with the addition of 12 seasoned cybersecurity consultants, who will expand SysGroup's customer offerings in cybersecurity and compliance. For the 12 months ending 30 September 2024, CCL delivered unaudited revenues of circa £2.4 million with more than 75% of revenues recurring. Additionally, CCL brings a diverse client base of customers, including FTSE 100, FTSE 250, and S&P-listed companies, which presents new cross-sell opportunities across multiple sectors.
Notice of results
SysGroup expects to publish its half year results for the six-month period ended 30 September 2024 on 3 December 2024.
Heejae Chae, Executive Chairman commented:
"This acquisition strengthens our strategy to become the partner of choice in our customers' AI journey and digital transformation by enhancing our cybersecurity capabilities and expanding into Compliance as a Service ("CaaS"). Crossword Consulting's expertise ensures that we can secure critical infrastructure, data, and processes - essential components for the successful adoption and scaling of AI. Their services, including Cyber Maturity Assessments and vCISO solutions, provide the compliance and risk mitigation needed to build trust in data-driven systems. By integrating these capabilities, we position ourselves to deliver comprehensive, secure, and innovative solutions that empower our customers to confidently embrace AI and drive their transformation agendas.
We are confident in our strategy and the progress achieved over the past months following our equity raise in June 2024. Our strong balance sheet positions us to effectively pursue strategic acquisitions such as CCL. Based on our current recurring revenue, the Board has good visibility that revenue levels will remain consistent with the prior year. Additionally, we are actively engaged in discussions regarding a number of high-potential contracts with both new and existing customers, which could unlock significant growth opportunities and drive revenue beyond our recurring base." |
The small acquisition announced this morning looks something of a steal from a distressed seller. No changes to the broker forecasts, but good to note that the company is in discussions related to a number of high potential contracts that could add significant further revenues. Results out in a few weeks time, where we should hear a lot more! |
Missive from Slater Investments
“The manager points out that historically when small caps as a group trade on under 10 times earnings they have subsequently rallied around 60% over the following two years. This part of the market now trades on a PE (price to earnings) ratio under nine times, says Slater.” |
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