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Creeping back to its high, didn't this hit 90p at one point ?
�150k trade in blue there. Big money continuing to change hands on this one.
Yes, and taking the 21st. Feb RNS on board with Castleton building market share into the end of the financial year.
It is unusual to know with any confidence what larger participants pay for their stock, except on a placing. It is academic, but after months of unexplained large trades and following deal brokering it now seems possible to draw a line under the effects. It is an agreed current share price of 72p.
Just to finish it off, Cannacord would have inherited Hargreave Hales holding, last disclosed as 2,393,833 , 3.04%, thus a further 1,575000 would have taken them yesterday to the 5.03% notified. Boom.
From Fund Factsheet May 2017 MI Chelverton UK Equity Growth Fund Investment Objective and Policy The objective of the Fund is to achieve long-term capital growth by investing primarily in a portfolio of fully listed and AIM traded UK equities. Investment Approach The Fund Managers are looking for companies that can both grow faster than the market and are highly cash generative enabling them to fund their own growth. Typically these companies will have some form of sustainable competitive advantage, such as a unique product, or a dominant position in a particular market, leading to high margins and the ability to generate surplus cash. Monthly Manager Commentary ...........We also started holdings in Castleton Technologies, an IT solutions and managed service provider to the UK social housing market, and Jackpot.......... With UK economic growth showing signs of stalling, we are focusing more and more on companies with resilient revenue streams, overseas exposure and structural growth opportunities, which hopefully will still drive growth in a slowing economic environment. With the Fund having performed relatively well so far this year we are constantly looking to engineer better value into the portfolio, which explains our new investments above.
Well, once more I take a simple view that yesterday's trades, one in one out a bit, show at least an institution like Cannacord sees 72p as value - no doubt they didn't pay more than necessary.
That disposes of Thursday. Kestrel and Cannacord discussed it, and price agreed. I would not be surprised to see further dissemination over time, and disposing of the evergreen options may facilitate that. It is pleasing that a willing buyer was available. The video was quite interesting, self explanatory, and confirms my thinking. Heywood Chapman seemed quite dismissive of the Australian operation, ' small and break even' if I recall correctly. The subsequent Kinetic acquisition ( then under wraps )changed that. It will become earnings positive for Castleton during next FY, providing new opportunities for cross selling.
And the other side of the coin for yesterday, anyway. Sharing the load - Kestrel too many or looking to invest somewhere else maybe. Looking at my records previous Castleton web major shareholders were June 2017, now Dec. 2017 so Chelverton came in between somewhere. I don't recall an RNS, or gone through them. Anyway, done and dusted last year.
And there we have it. A brand new over 3% holder. I see Chelverton Asset Management now appear on Ctp website at 3.8%. That wasn't there before.
I think that last RNS was important from an investors perspective, and Mxcp's evergreen options may have stuck in the craw of institutions.Gone now. I also thought pi's may have found the mention of continuation of strong cash generation attractive. Anyway, all good stuff overall.
I have looked again. 1,600,000 shares are shown as traded today at 72p. On the information available they are buys. On a shares in issue figure of 78,889,332 that amounts to 2.02% of the company share capital purchased today, and takes no account of the well documented previous very large transactions. No holdings RNS has been forthcoming. Nobody buys that amount by arrangement without careful consideration. In the event these are buys ( and sells ) by an existing major shareholder, I would expect notification, as Kestrel/MXCP/WRAY are known to have done. Should there be such notification, it will be interesting to see how it stacks up. In the absence of notification, the only conclusion, which I long ago reached, is that there are larger holdings under 3%. There is always the possibility of a failure to notify, but I doubt that is likely with the known holders, and this if done 'deceitfully' invariably relates to sales. It crosses my mind that the RNS of 21st. February, divesting the company of evergreen options and in particular ' paying off ' MXCP, may not be unrelated this latest buying interest.
I expected a notification today on the previous transactions. It has always been known the shares traded over the weeks and months were being bought, and at least some are now evident as buys at 72p. In this case I regard it as positive for the company and its share price. More than one holdings RNS soon?
No doubt about those late reported trades - �1080ks worth of buys.
PowerHousing Australia is a national network of leading not for profit growth community housing providers who develop and manage social and affordable housing
Well, I've always taken the view that the buying and selling is by agreement, or else it couldn't happen in the way it is, and whatever the seller(s) reasons for sale there's no need for professional investor(s) to pay more than they're comfortable with. So I do anticipate good from it, as the buyer surely must.
IT is interesting, and we shall know no more without notification. Whatever the whys and wherefores, the fact is stock is changing hands at this price and has been for some time. That, with the company performing well, must be good for shareholders,
And a load of other delayeds at 71p., not quite adding to the big one. Ah well...........
Another monster trade there - �727.5k at 70.98p - and a slow move up. No - not a clue where to or where from yet. As long as somebody keeps buying............
That's for Castleton Software solutions, so not the seniority in the organisation occupied by Sanghera. A new role it seems, with quite a grand title.
James Massey moved up to Chief Operations Officer, a role which remained unfilled following departure of Davinder Sanghera.
March 2, 2018 Strategic Modelling Pilot One of Castleton�s most widely used products in the UK, Strategic Modelling, previously HousingBrixx, will soon begin a trial in Australia. Two of Castleton�s customers who are also Powerhousing members, Haven Home Safe and Junction Housing, will be involved in the trial. Strategic Modelling is a stand alone product used by community housing providers to conduct long term planning across the business. The pilot is being used to test the product against Australian financial principles
conference and exhibition started today. Castleton presenting with HSHomes at 1430.
Good morning. Yes. Getting to that time of year again. I think that's a simple measured and fair assessment of whereabouts we're likely to be, based on what they've been saying. The published forecasts, are, as usual, probably a bit ahead of themselves. Strong cash generation infers increasing profitably in that normal business costs continue to be well covered, and that inference is reinforced by the decision to pay money on acquisition for Kinetic from the Barclays facility and paying cash from 'existing resources' to get shot of the effect of MXCP options - certainly the picture is of the ability to service growth-enhancing debt and a further sufficiency of cash. Thus operational performance should be fine and on a par with the half year. The bottom line will be dependent on those mysteries dealt with by the CFO, so that's me done on any guess the results lark. No reason I know of not to anticipate new and ongoing contracts and cumulative revenue/profit moving into next year.
Everything seems to be ticking over as planned, with the last indications that results will be in line with forecasts and strong cash generation continues. Last year revenue was �20.3m. It seems distinctly possible for this financial year to increase that organically by the target of 10% minimum to �22.33m ( they did 10.9% H1 )and add on the �0.4m contributed by Kinetic. Say �22.7m. Something around that mark. Hopefully better. We have been told that the cost base has stabilised following the plethora of acquisitions and the expense of integration, so I would expect at least positive reporting on profitability. There there will be some costs arising from the Kinetic deal to be swallowed in the next accounts. One naturally remains optimistic about cross selling and the one stop shop in the UK and Ireland, and the potential for Australian growth.