Zenith Hygiene Share Discussion Threads

[its the oxman] 09/1/2007 08:29

still moving up with unusully tight spread, 145-147p at the mo.

[its the oxman] 05/1/2007 10:35

turning into a very encouraging rise now 144p offered.

[kenmill] 05/1/2007 08:45

I have had a number of e-mail contacts with Ringo Francis over the last 4 weeks and he has now agreed to put the presentation he gave to institutions, before Christmas, on their website. He says that it will appear in the next 7 days.
With the share price recovering, it should be fairly positive.

[its the oxman] 04/1/2007 23:16

have to say i did infact top up c.120p - not too sure it was the right thing to do but working out so far - just hope that as seems most probable we do infact get some +ve newsflow

[tony5000] 21/12/2006 17:15

Initially released an RNS @ 11.40 saying sold 20,000 @ £1.90; then another at 12.13 saying sold 395,000 @ £1.90; then both appear to have been amended. RNS at 16.33 say sold 20,000 @ £1.18 and RNS at 16.39 say sold 395,000 @ £1.18. All 4 releases have the same dealing date of 8/12/06 for the 20,000 and 20/12/06 for the 395,000.

There is nothing in the releases to say the later RNS's amend the former but it would appear that they do. Tried to contact KATIE CARTER on 0207 332 7697 to clarify (contact reference per RNS) but no one answered the phone. On 7/12/06 Old Mutual said that their total holding was 415,000 prior to the above transactions. Some clarity from Old Mutual is obviously required - disclosure of 20,000 sale also very late.

Is the sale of 395,000 at 100p a different transaction then or one and the same ? 100p ? 118p ?

[flyfisher] 21/12/2006 16:55

old mutuals disclosure seems to have been amended, but still has a discrepancy in price

[scorpionwinger] 21/12/2006 13:52

Interesting to note that Old Mutual's disclosure of sales are at £1.90 - unless I am seeing things or the market is asleep - does that mean that Old Mutual were made insiders and sold to the bidder, who is about to announce a 190p/share offer

[its the oxman] 21/12/2006 11:19

that said far more tempted to buy than sell

[tony5000] 21/12/2006 11:18

Uplighter/Oxman - agreed/difficult to assess at the moment but a bit of "shaking" going on this morning.

[its the oxman] 21/12/2006 10:54

difficult to assess now - with big sells at 100p am holding off topping up until next newsflow - surprised the shares have fallen so far but it happens with small companies.

[uplighter] 21/12/2006 10:37

There are none as blind as those that cannot see

[tony5000] 21/12/2006 09:48

Thanks ff - point I was making above though was that this was a matched trade and there must have been a fair degree of discussion prior to deal being struck with buyer and seller i.e. why buy a "dead duck" at any price - unless of course the buyer is completely mad !

[flyfisher] 21/12/2006 08:20

tony, it would seem that there has been a seller trying to dispose of 395k, the market makers will not take that amount of stock therefore the seller has to wait until the market makers can find a buyer for this quantity, in order to complete the deal, it seems a buyer could only be found at a 20p discount to market price, the deal would have been completed in 2 parts to give the market maker an agreed amount of profit for his work , which will explain the matching price for 350k but the small difference for the 45k trade, its not uncommon for large trades in thinly marketed stocks to be struck at a discount or premium to the market price, coincidentally one of its recent aquisitions was purchased with a part payment in shares of around 390k , its possible that this was the seller, but i'm unsure , good luck

[tony5000] 21/12/2006 07:29

UP - I saw these trades but noticed that 395,000 shown as a sell @ 100p followed by 350,000 @ 100p and then 45,000 @ 100p - the second two also totalling 395,000. Haven't got level 2 but wondered whether these 3 trades contrad each other - intra market. Also - if there was "something up" - why would any one want to buy 395,000 shares at 100p ? Noticed also some late buys at close @ circa 120p. Grateful for any comments.

[uplighter] 20/12/2006 20:24

Huge dumping of 300,000 and 350,000 shares at 100p, ie. 20p under current price.

poor.

[potem] 13/12/2006 13:28

T5000 : Thanks for taking the time. Much appreciated.

[tony5000] 13/12/2006 13:18

POTEM - I think the drop over the last couple of days is possibly due to PI's selling who follow the SCSW portfolio - I thought this might impact the price if subsribers were to mirror this portfolio as some may have chosen to do. As far as the general reporting is concerned - giving the company the benefit of the doubt for now - it may be that they initially underestimated the impact/and or categorisation of the exceptionals or were recently advised by auditors, etc. that certain exceptional provisions would need to be made in the accounts. There are usually complex issues to debate when acquisitions are made and the accounting treatment in a number of areas can be open to considerable discussion. Arguably though they should have updated the market more promptly. All IMHO - I think price is now lowest since initial listing so hoping for a rise.

[tony5000] 13/12/2006 09:47

Potem - announcement was on 23/11/06 of bid and now 3 weeks on from that. The longer this goes on the more likely a bid will probably materialise. Due diligence should take no more than circa two to three weeks for a company of this size - at which point the bidding company are likely to say yes or no to the bid; if the reaction of the bidding company is positive then there may be another 1 or 2 weeks haggling over the price and sorting out funding arrangements for the aquiring company. As chazza454 said above - price at time of bid was c170+ drifting down since then on integration delays but trading now on track. I think sometime then within the next two weeks.

[potem] 12/12/2006 17:51

Can anyone give a suggestion as to when we can expect news on the bid approach menioned in the rns of 23-11. I am new to this and have no experience of holding in these circs.

[chazza454] 12/12/2006 17:45

There is no logic to the share price at present. The results were Ok on the whole and this year is on track. There is some bid activity in the background that clearly started when the price was around 170+. The multiples of profit based on current yr produce an share price 30% higher than current - what is going on??

[kenmill] 11/12/2006 16:49

SCSW went to print before the results were announced. They sold out of the portfolio to buy another share (they were fully invested) but in the update in the body of the newsletter, they advised to hold to await developments

[0rb1t] 07/12/2006 08:40

The prelim report looks good. Here's a rough forecast for 2007:

2006 2H Turnover £19.8

2007 Turnover £39.6
20% inc TO £47.52 (organic and acquisitive rough estimate)
OP Margin 8.00%
OP £3.8016m
Savings £1.8
PT Profit £5.6016
AT Profit £3.92112
MC 39.2112

Current FPE = 7.2
Share Price based on PE of 10 = £1.93

The Lisburn factory was is still only at 40% capacity so further expansion will improve the operating margin and profit goes straight to the bottom line.

Its was also reassuring that no attempt has been made to talk the share price down. So I don't think the takeover speculation is a MBO. Also the management would not have been caught out with the trading statement if it was. DYOR

[its the oxman] 07/12/2006 08:34

results are not too bad - takeover discussions continue - trading ok and acquisitions seem largely sorted now so hopefully 2007 will prove to be a much better year. no doubt management will be having meetings with major shareholders and if they go well the share price should benefit further.