Zenith Energy Share Discussion Threads

[140661] 18/4/2012 17:10

I attended the AGM and Cleaver gave a very honest assessment of the position the company was in when he took over and why the board had taken the decisions they had made. He accepted that they would have done some things differently with hindsight but felt that overall they had made the right decisions.

I sense that they will give it another month to try to secure an order and if nothing materializes in that timescale I suspect they will mothball the current business and look for a shell deal. They honestly believe the current business has merit but are aware of the cash drain of carrying on if no orders are forthcoming. Regarding cash, they would not give a current figure but referred back to the 31 Dec cash position of £5.3m.

Overall, I am happy to hold at these levels as at the current share price of 5.25p the business is valued at less than £3.75m; they have tax losses brought forward which will have a value to many potential suitors if the company is used as a shell or if the company succeeds will ensure no tax is paid for many years; and assuming the current cash is around £4.5m they should be an attractive shell which should trade at a premium.

[dcroston] 18/4/2012 15:06

P O N A,
I have not been to the AGM. Perhaps someone else can confirm.

That figure is my best guess based on what I know.

[p o n a] 18/4/2012 14:36

drc.. is that figure confirmed from ZEN ?

[dcroston] 18/4/2012 14:34

Dunc, more cash than that pal. They started January with £5.5.

They sold assets to the value of £1.5m during that time, perhaps even slightly more as they had quite a bit of wire to flog as well. So its around £5.5 cash.

[supernumerary] 18/4/2012 14:10

These guys have their hands on £5M cash or thereabouts. Anybody who thinks they're just going to hand it over to you lot and walk away is living in dreamland. Be prepared for some exciting new initiative to emerge that does not involve returning funds to shareholders. That, sadly, is how AIM works.

[p o n a] 18/4/2012 13:49

They had £5.3m as at Dec 2011 end.

[duncandisorderly] 18/4/2012 13:47

I think its 4 joe.I could be wrong though

[joeblogg2] 18/4/2012 13:45

I think end of Dec was approx £5mill they said. Not sure how much there is now though.

[p o n a] 18/4/2012 13:39

thanks joe. Are you saying that it was stated at the AGM that the share price is less than cash ? If so.. that implies at 7p cash is more than £5m

[joeblogg2] 18/4/2012 13:37

Back from AGM and unfortunately couldn't stau long to talk. As the rns states trying to get order and if not then another strategy but wouldn't comment on what. The share price is lss than cash and plenty of tax losses if they don't get a sale soon, so may average down further in next few weeks. Not sure if your mate was there errol but hopefully he may be able to get more info.

[vision88] 18/4/2012 13:15

wait foir 3p dunc then load uppppppppppppp

[duncandisorderly] 18/4/2012 13:13

Lot's of drinks mate!I'll be buying when they hit 50p,lol.

[vision88] 18/4/2012 13:11

Time to have a drink dunc its your round

[duncandisorderly] 18/4/2012 13:04

Watchingyou jump on every share that drops and have never had any interest in Zen.Go away you muppet!

[p o n a] 18/4/2012 13:03

"A company that makes no sales (can you even remember the last time the sold something?) is not an investment."


erm.. they made one just over 6 months ago.... £500k's worth.

[imwatchingyou] 18/4/2012 12:59

duncan etc, you've only got yourselves to blame for buying shares in this dung heap.

A company that makes no sales (can you even remember the last time the sold something?) is not an investment. I did try to warn you that this was going to be run into the ground. It was very easy to see.

[stegrego] 18/4/2012 12:59

Duncan, I dont think the tech has ever been worth anything and have stated so on this board several times.

This bunch blew 10s of millions in developing tech that no one wanted and then they dumped it.

They have been stringing people along just to pull in their salaries for a few more years.

[vision88] 18/4/2012 12:55

will possible lay off staff close down most opperations. become an attrative cash shell with huge tax loss advantage, thus very attrative to ready buy out prposition 7 or 8p a share depends how mush they got in the bank at the time off take over/buy out .Russian 's may buy it out ,could drop from here to 3p in the mean time. Off course a Huge order or two may come there way just in the nick of time, if so then you could see the price expotentialy rise 12 month target 90p dirrectors saleries will be raised immediately along with barclay Bank style annual bonus's back dated to 2001

[duncandisorderly] 18/4/2012 12:53

And at what price would it of been if they tied up a deal oh Captain hindsight?

[stegrego] 18/4/2012 12:51

Sorry for you lot, but its not like several people havent been telling you this share is worthless for at least the last 18 months.

[duncandisorderly] 18/4/2012 12:51

Because it's his bloody job,duh!

[lfc4ever] 18/4/2012 12:49

if noone will buy the stuff, how do you blame him?

[duncandisorderly] 18/4/2012 12:24

Closer to 4 mil I reckon,