Volex Share Discussion Threads

[cockerhoop] 19/6/2014 09:25

Call me a cynic, but isn't the director buying a co-ordinated share support operation to help the Rights Issue/Placing get off successfully. Surely the directors could buy any shares they'd like at the 75p placing price.

That said I do have a modest holding here (and plan to take up my rights) as medium term I think the Risk/Reward is favourable.

[nmf777] 19/6/2014 08:19

I've just had a few. Can't help thinking something's afoot .....

[cockneyrebel] 19/6/2014 08:11

Very quiet here, considering several directors are loading up on the low.

CR

[imastu pidgitaswell] 17/6/2014 08:59

A few slides for the latest results - nothing new, just a rehash of the announcement in user-friendly format.

hxxp://www.volex.com/images/pdf/RNS/2014/Shareholder-prelims-presentation-2014.pdf

Pro-forma net debt of $4m, after the placement. Still think the banks surprised them with that, demanding it late in the day - really not sure why it was necessary at all. The recent RNSs prior to the results were most likely an attempt to keep the share price up and minimise the dilution, but our city friends smelt a rat and reacted the opposite way. Hey-ho, bottom drawer, deep freeze etc etc...

[davemac3] 17/6/2014 08:20

another director buy

[gripfit] 16/6/2014 13:06

not foul play mustin,,,,,, just the norm,,,the city knows first.

[mustinm] 16/6/2014 11:49

Share price down c9% days before a raising suggests foul play.

Good to see the a Director Buy - CEO buying £50k today.

[freddie ferret] 13/6/2014 17:42

Mustinm.

Frankly the share price movements and large number of trades through over the last 7 days strongly suggest insider dealing to me. Again the lack of trades data from ADVFN on critical days stinks.
How do you know this was leaked??? ;-)

[buywell2] 13/6/2014 14:39

It is not too difficult to raise turnover by cutting prices

The plan included price cutting

That does not necessarily lead to increased profits though if prices have been cut by too much

[mustinm] 12/6/2014 18:01

Why is that interesting?

It's incredible how badly this announcement was leaked.

[freddie ferret] 12/6/2014 17:17

All the LSE trades over the last few days have now been made available by ADVFN, very interesting that. They were unavailable.

[paleje] 12/6/2014 10:47

IC view this morning:

Full year results from cabling specialist Volex (VLX) showed an anticipated reduction in revenues and an operating loss of $4.8m but management reports that its transformation programme is running ahead of expectations with revenues in the first two months of the current financial year running 13 per cent higher than last year. Meanwhile the company is raising $30m in order to complete its transformation and ease the leverage in the business. Buy.

[imastu pidgitaswell] 12/6/2014 07:55

It does (give the the means), although you might have thought they would have done it properly the first time round in December. A dilution of this level reduces the ultimate target price (for me) by a third, albeit it enables them to get there faster.

As ever, some leakage beforehand hence the drop before the release of the results. A level playing field would be nice, but it will never happen.

In terms of whether it changes anything about the business - no it doesn't, but it never would. That's all about the business decions they are taking and those are working. It's all about the forecast and the future and the indications for revenue, gross margins and cash generation are all good.

"Revenue in the first two months of the new financial year is 13 per cent higher than the same period in the previous year;
-- Factory loading for the first quarter indicates that revenue for the quarter will be 10 per cent ahead of prior year and 4 per cent ahead of the previous quarter; and
-- Gross margins in the first month of the new financial year are better than expected and the order intake in the higher margin product areas provides confidence that this will continue, especially as volumes increase and factory utilisation improves.
The Group expects to be cash generative in the current year after interest, tax and exceptional costs"

[buywell2] 12/6/2014 07:51

This placing has bought them some time

That is all it has done

whether the plan will work or not is up in the air

thus far it don't look so hot

[andyview] 12/6/2014 07:38

The cash raising is underwritten and supported by largest holder. It is discounted to closing price and supports the business plan going forward.
The company is delivering and this gives it the ongoing means to do so.

[ferrism] 12/6/2014 07:30

Some encouraging news in the results but I was disappointed to read this admission..

"Revenue reduced by 15.4% from $473.2 million to $400.2 million while underlying operating profit fell to $4.5 million (FY2013: $12.3 million). This downturn is largely attributed to a failure to adapt our strategy to meet the requirements of our core customers within the power cord market. Whilst our customers were anticipating us continuously improving our supply chain to remain cost competitive, we were looking to achieve improved operating margins through higher customer pricing. As a result, we suffered from reduced business allocations."

On the positive side they did manage to improve margins.

[ferrism] 12/6/2014 07:08

So, it's another round of cash raising to pour down the drain that caused the drop! I suppose I should be thankful it wasn't a rights issue.

[freddie ferret] 10/6/2014 17:32

Buzzer all in the way of LSE trades from ADVFN. Not giving me any trades for today.

Here are some recent ISDX trades.




Here is the ISDX VLX mainpage.

[imastu pidgitaswell] 10/6/2014 16:48

Haven't seen any volume to this - at least previous plunges had volume behind them.



They've manager to get it to close below 80 - again, on sod-all volume. Murky as ever.

Given that the results and presentations have been done (just not released until Thursday) you have to wonder what nasties are in there - they always leak, it's just how it is. Or is it just that when Nathan wants more shares, they oblige by plunging the price,. like last time?



Personally doing nothing except waiting.

[toffeeman] 10/6/2014 16:45

Looks like they are refitting the whole kitchen and not just the sink - if 80 goes then next support is 60

[buywell2] 10/6/2014 16:43

buywell2 16 May'14 - 14:47 - 2130 of 2154 0 0 edit

I should be charging you guys for this

Support around 82.5p might be next test




buywell2
8 Apr'14 - 15:25 - 2063 of 2129 0 0 edit


Chart is not very good this year possible 90p retest ?

[she-ra] 10/6/2014 16:42

It did go to 18p about six years ago without being gobbled up.

Very unlikely,im sure, it wont retest that low.