Share Name Share Symbol Market Type Share ISIN Share Description
Volvere Plc LSE:VLE London Ordinary Share GB0032302688 ORD 0.00001P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 1,050.00p 2,405 05:30:43
Bid Price Offer Price High Price Low Price Open Price
1,000.00p 1,100.00p 1,050.00p 1,050.00p 1,050.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 43.42 3.45 56.40 18.6 38.5

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DateSubject
21/10/2018
09:20
Volvere Daily Update: Volvere Plc is listed in the General Financial sector of the London Stock Exchange with ticker VLE. The last closing price for Volvere was 1,050p.
Volvere Plc has a 4 week average price of 870p and a 12 week average price of 865p.
The 1 year high share price is 1,175p while the 1 year low share price is currently 795p.
There are currently 3,668,363 shares in issue and the average daily traded volume is 1,197 shares. The market capitalisation of Volvere Plc is £38,517,811.50.
09/10/2018
11:59
kazoom: FWIW, rightly or wrongly, I sold out my smallish position on the back of the disposal. My reasoning? Surplus net cash on a balance sheet always seems to be valued below par, so I suspect the share price is likely to drift in the short term. For the more patient, is seems a pretty safe bet to trust the Landers to spend wisely (if the can turn c. £2m in to £23m what can they do with £43???). So this might not be a wise move and I may well face the prospect of potentially having to pay much more if I want to get back in as and when they find their next target, but I'll live with that. Good luck to those more patient than me!
04/10/2018
11:31
stemis: Proforma net asset value is £43.9m or 1197p a share, including net cash of £42.1m (1148p a share). I'm guessing the £23.1m they 'retain' includes their share of the £2.87m retention. They are left with a tiny business (Sira) and another which just about covers their central costs. 1175p share price looks pretty fair value to me.
04/10/2018
11:16
rivaldo: I certainly chose the wrong morning to go out and be away from the screen :o)) So £23.1m consideration plus £20.4 existing cash equals £43.5m cash |(including the deferred element) - that's almost 1200p per share in cash alone. Plus the £2.4m of freehold property, plus the value of Shire Foods and Sira. So the current share price still looks rather low to say the least. Is the net £23.1m receivable net of or before any bonus payments to the Landers? From the wording I suspect it's after those bonuses due have been deducted. Also, 83% of the gross £31m is £25.7m, which leaves a lot of leeway down to the net £23.1m. Anyway, congrats to the Landers are due once again. To turn a net £0.73m into £31m is remarkable in such a short timeframe. Now let's see if we can dispose of Shire Foods too....
04/10/2018
09:36
greenroom78: Nice. £31m for Impetus. https://uk.advfn.com/stock-market/london/volvere-VLE/share-news/Volvere-PLC-Disposal-of-Impetus-Automotive-Limited/78396622
16/5/2018
12:02
rivaldo: Surprised to see some sells over the last few days, particularly as the results will be out in only 9 days' time on 25th May. We know that they will be stellar, with an £18.4m cash pile - and look what happened to the share price after last year's results! As a reminder.... "The Group expects to report record revenue of approximately £43.2 million (2016: £33.0 million) and profit before tax of £3.22 million (2016: £1.94 million)."
30/4/2018
08:53
rivaldo: Results are on 25th May, so not long to go. Incidentally, it was good to hear Graham Neary mention at Mello last Friday that VLE was his largest holding. Melf, sometimes people buy 1 share so that they're entitled to attend the AGM (though in my experience most AGMs are unrestricted anyway). Michaeljames1, certainly the outlook will help things along, but I often find that the confirmed numbers help people crystallise their thoughts. In VLE's case in particular, the numbers always lead to reflection on the true NAV of the group - just look at the spike post-results last year. We're pretty much all of the same opinion that the true value of the subsidiaries and cash pile is much greater than the current share price, and the upcoming numbers should once again confirm this.
20/3/2018
22:46
rivaldo: FYI Simon Thompson (of the IC) has written this rather bullish piece on VLE: Https://www.investorschronicle.co.uk/comment/2018/03/12/bargain-shares-beating-the-market/ "Volvere’s record results Shares in Aim-traded investment company Volvere (VLE:1,000p) surged to within pennies of a record high after an eye-catching pre-close trading statement, thus justifying my buy recommendation, at 810p, last autumn (‘Exploiting hidden value’, 25 Sep 2017). I included the shares, at 419p, in my 2016 Bargain Shares Portfolio, so the holding is now up more than 125 per cent on an offer-to-bid basis. The share price move is fully justified, too. That’s because the company’s latest NAV of £26m, or 656p a share, includes cash of £18.4m, so Volvere’s three investment holdings are effectively being valued at just £7.6m even though pre-tax profit for the 2017 financial year surged by two-thirds to £3.22m on record revenue of £43m. The performance of Impetus Automotive, a provider of consulting services to the automotive sector in which Volvere has an 83 per cent stake, was the key driver. The business almost trebled its pre-tax profit to £3m on revenue of £27.1m, reflecting an improved client focus, staff efficiencies and a major contract for the management and delivery of a large automotive manufacturer's learning and development activities in the UK. Impetus is being chronically undervalued in Volvere’s accounts, accounting for only £3.3m of the company’s NAV, or just one times the subsidiary’s annual pre-tax profit. It could easily be worth £15m or more in a trade sale, or more than 400p a share in my view. Moreover, Volvere’s businesses are cash generative, which is why the board was able to spend £3.46m buying back 10 per cent of the share capital last October. But cash on the balance sheet only declined by half that sum over the course of last year. Ahead of the full-year results on 25 May 2018, I would definitely run your bumper profits."
12/3/2018
13:25
rivaldo: Simso, I agree completely and have raised the subject of research coverage on two or three occasions with the Landers. Their view is always that the share price will find its fair value over time and doesn't need any external help. I disagree, for the same reasons you've outlined. The easiest route to gain coverage would indeed be a paid-for note from Equity Development, Edison etc, which would set out clearly and succinctly the profitability of the investees and the asset base in cash and property. It wouldn't have to even point at a specific fair value, but simply conclude that the value of the assets was likely to be some way north of the current share price. Then readers could come to their own valuations based on the evidence.
12/3/2018
11:40
simso: If the Landers wanted the share price to be higher / increase Liquidity, I think one route to achieving that would be the commissioning some paid research. As things stand, busy Fund Managers and also PI's who scan conventional metrics like PE Ratios (VLE is 25 on LY numbers), Dividend Yield (0%), PTB (1.4), ROCE (8%), FCF Yield (4%) etc etc. None of those convention metrics would point you to the exceptional value on offer here. It is a Unique company, and it takes some work and proper analysis, specifically a SOTP style valuation, to properly appreciate it. I suspect the Landers are not that bothered and would not want to spend the money on a piece of paid Research from an Edison or Whatman Howard, but I do think this is a company whose share price would benefit from one.
26/2/2018
11:15
hpcg: It is simple liquidity risk in action. I think everyone that doesn't realise, needs to realise, that there is no way to make a quick exit here without moving the price, just as you likely found out there is no way of buying in without moving the price. With the spread even at this price one would barely be making a turn having sold at the top and buying back now. That is the nature of this share. One can either live with the risk or avoid, there is no way of wishing it away. The cheap share price is the quid pro quo for the liquidity risk; the market doesn't give something for nothing.
Volvere share price data is direct from the London Stock Exchange
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