Vanco Share Discussion Threads

[jaydeee] 19/6/2007 11:56

Finally appointed an FD -

Appointment of Group Finance Director

Vanco, the global Virtual Network Operator (VNO), today announces the
appointment of Peter Johnston as its new Group Finance Director. Peter will join
the Board of Vanco on 1 September 2007. He takes over the position from Simon
Hargreaves, who was promoted to the role of Managing Director of Vanco Solutions
in March 2007.

Peter, aged 43, has a law degree from the University of Durham and qualified as
an ACA with KPMG in 1989. After leaving KPMG, he held finance positions with
BET plc and Shanks Group PLC. In 1995, he joined Thorn Lighting Group Ltd, which
was owned by a private equity group headed by Investcorp, where he carried out a
variety of roles including Group Planning Director, European Finance Director
and General Manager Central Europe. In 2001, he was placed by Investcorp as
Group Finance Director in The Polestar Group Limited ("Polestar"), Europe's
largest independent printer, with a remit to restructure the business. This
concluded in 2006 when he managed a £1.1 billion refinancing in which ownership
of Polestar passed from Investcorp to a banking syndicate comprising Bluebay, JP
Morgan and others. Since this transaction, Peter has continued to work for
Polestar.

Allen Timpany, Chief Executive of Vanco, said, "We are delighted to announce the
appointment of Peter Johnston. He is a highly experienced and capable finance
director who will make a strong contribution to the Group as it continues to
grow significantly. I would like to thank Simon Hargreaves, who was promoted to
Managing Director of Vanco Solutions in March, for his immense contribution as
Finance Director over 12 years, during which period, the company's revenues
increased from £4m revenue to £183m."

For the purposes of paragraph 9.6.13 of the Listing Rules, Peter was a Director
of The Polestar Group Limited at the time that it was placed into administrative
receivership in December 2006 as part of the financial restructuring of the
Polestar Group.

There are no other details to be disclosed in respect of the requirements of
paragraph 9.6.13 of the Listing Rules.

[handycam] 19/6/2007 09:02

Jon,

I can wait for that. Then we can sell half a bar.

[finess] 19/6/2007 08:27

Is that a fact or an opinion, its looking that way this morning. :-)

[jonthebaptist] 18/6/2007 20:49

i have been told this is heading back to 470

[jonthebaptist] 16/6/2007 22:53

short squeeze..... ahhh
long from 380. superb

[jonthebaptist] 14/6/2007 21:24

i have heard more contracts will be made in the next week.
Price will be north of 450. of course dyor....

[finess] 14/6/2007 11:14

Added
MACD looks as though it could go +ve, maybe not the Kiss of Death me holding after all.

[silver_bullet] 13/6/2007 11:20

Agreed, maybe some profit taking -

We are adding Vanco to our Buy List (previously Neutral) and to our
Conviction Buy List following a period of underperformance. Our price
target is only slightly changed at 505p and we believe the company's
continuing progress in adding attractive customer contracts enhances both
its earnings outlook and its appeal as a potential acquisition target in the
longer term. The recent addition of T-System as a channel partner is the
first time the company has signed one of the largest telcos as a distributor
and should help to enhance growth as the company continues to make
progress in making its business model more scalable.

[johnmaynard] 13/6/2007 10:59

Whats happened tp VAN at the opening this morning. Goldmans note was pretty agressive on this one..

[robow] 13/6/2007 09:09

Goldmans upgrades Vanco to BUY from neutral and raises target to 505p from 490 from Citywire

[woozle1] 07/6/2007 17:02

the problem is the poor cash generation but agree its starting to look interesting at these levels

W

[finess] 07/6/2007 15:52

Opened a small position hope, so that should be the Kiss of Death for the time being. :-)

[jaydeee] 07/6/2007 14:09

What do you call guranteed contractual income of £400m? is that not an asset?
What's changed with Vanco in the last 15 months? Back then the share price was £6, and it had been consistently going up since flotation at £1 5 years ago. The company never missed a forecast, continues to grow at 25%, has very consistent profit margins, has improved its cash/flow position. Nothing bad actually happened. So what was the cause that made this company from a darling to a dog? Anyone?

[wipo1] 07/6/2007 13:56

p/e of 18 not low for a company with little assets.

[father o toole] 07/6/2007 13:51

Tanking bigtime and about time too IMO

[eire voyager] 07/6/2007 13:50

shorters at work again there will be a big bounce just like last time

[father o toole] 07/6/2007 13:38

has the back wheels came of the VAN?

[jaydeee] 07/6/2007 05:55

Nabeel, even on a your basis of calculating PE, the shares are trading at less than 18 times. DRKW forecast of Profit after tax is £15m. Historically, both ratios are very low for Vanco. One stat that is often quoted is PEG ie p/e ratio to revenue growth. It has been suggested to me that the PEG should be 1.5 ie 1.5 times revenue growth of 25% which gives a PE of 40!
which would mean a share price of £8. Maybe that's a bit optimistic but today the shares are worth at least 600p. The market is just under valuing a great company

[kosinjames] 06/6/2007 10:59

The support seems to be solid above 405p even before the news release and VAN held well even in down days. The risk for entering now seems to be reasonable small with such clear support level.

[nabeel4975] 06/6/2007 10:28

The first part of JayDeee argument re. brokers' recommendation can be dismissed without further ado. Remember their sell note on BUR at around 500p or recent buy recommendation on JSP and SMC. We seem to highlight them when it suits us, and ignore them when it does not.

Secondly, as you know, P/E is not calculated on PBT as JayDeee has mistakenly suggested. Current P/E is a massive 26! So his statement "this share should be trading at 20 times PE" effectively means that the shares are overvalued.

Even if you factor growth in, it is hard to claim the shares are undervalued. Compare their P/E with VLK's for example, and you will find out where I would put my money.

The delay of the statement does not bode well for the management; it was needed when many loyal shareholders were desperate for clarification, not after they have sold out.

Anyway, that is only my opinion - good luck.
(I still have no position in VAN)

[renegade master] 05/6/2007 16:49

Jaydee, great post well done - good to see someone taking the effort to anaylse the figures properly. Foward pe looks low.

[nabeel4975] 05/6/2007 15:23

For many, IT IS too late!

It may not be too late for you, but what about others who had to close at a loss after waiting in vain for the co. to issue this very statement until either they become disillusioned and sold or their stop losses have been triggered because of the management failure to clarify earlier.

I doubt they will be rushing to buy back just yet. Perhaps there could be a much better opportunity below 400 or even 300p - imo.



Herds are more vulnerable than their shepherds to price movements, EK or another herd guru can afford to lose a lot of money, their lemmings cannot.



It has been traders's stock today.