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Dowgate Capital - Capitalising on the booming AIM market (DGT)
overgrowth
- 09 Feb 2005 20:52
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Dowgate Capital (DGT) are sitting in the middle of a goldmine! This company through their sole trading arm City Financial Associates are looking to take full advantage of the "booming" AIM market this year. Dowgate provide NOMAD (NOMinated ADvisor) services to AIM companies and also have full Corporate Broker status which means that they can fund placements on behalf of the companies they represent. |
 Website: www.cityfin.co.uk |
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On first sight, the fact that Dowgate exist in the often veiled financial services sector makes you think twice about investing in company such as this because it would be impossible to understand what they were doing - however, think again! DGT bring new companies to the AIM (Alternative Investment Market). For each new company "floated" on AIM, they take arrangement fees when acting as NOMAD. After the company is launched then for a nice steady earner DGT get another healthy chunk of cash every year for looking after them (note that all AIM companies must have a nominated adviser - thereby securing a ready source of recurring income). Because DGT also act as a Corporate broker they can get a very healthy percentage for arranging placement of shares with insititutions before a new company floats. In addition, because placements come outside the sphere of yearly NOMAD work, they can also gain healthy percentages of placements which companies may need to make throughout the year when they need a quick injection of cash to speed growth. Current NOMADships: 28 companies represented (gives recurring income of approx 480,000 per year) Current on-going Brokerage agreements: 19 companies (income depends on placements) For flotations, depending on the size of a company, fees charged will be anything from 50,000 to 100,000+ For placements (the real earner), DGT get anything from 3% to around 12% of the TOTAL AMOUNT RAISED - For example a new company raising 3M though a placement will earn DGT anything from 90,000 to 360,000 ! These figures are indicative as actual deals all differ due to circumstances and DGT sometimes take payment in shares - they still have a tasty chunk of Setstone shares and when this Russian exploration company comes back to AIM, predictions are that the share price will rocket. Note that the amount that this little company can earn in fees is huge and every new deal that comes through we know will contribute another healthy chunk into the bottom line. The good news with every new floatation means that it's another chunk of recurring revenue which could go on for years, with DGT having to do very little. New clients gained in 2005 are: Mediazest (NOMAD & broker) Elite Strategies (NOMAD) Process Handling (NOMAD) Poland Investment Fund (NOMAD) Nanotech Energy (NOMAD & broker) Archimedia Ventures (NOMAD & broker) Red Leopard Holdings (NOMAD) Alba Mineral Resources (NOMAD & broker) Intandem Films (NOMAD & broker) Motive Television (NOMAD) IncaGold (NOMAD) Sportswinbet (NOMAD & Broker) Infoscreen Networks (NOMAD & Broker) Mark Kingsley (NOMAD & Broker) Croatia Ventures (NOMAD & Broker) Pantheon Leisure (NOMAD) Firenze Ventures (Ofex Advisor) FlightStore Group (NOMAD & Broker) Euro Capital Projects (NOMAD) Pearl Street Holdings (NOMAD) Worldwide Natural Resources (Ofex Advisor) Dovedale Ventures (Ofex Advisor) Other 2005 work completed:Neptune-Calculus VCT offer for subs of up to 12 million Advisory work for TGM on London Bus disposal for 20.4M Advisory work for Creightons on property disposal Advisory work for Hampton Trust on company restructuring Advisory work for Interbulk Investments on acquisition of Inbulk Advisory work for Fundamental-e Investments on two disposals Advisory work for Designer Vision re: Design Rights against Centurion Electronics Click Here for fundamentals and profit projections. |
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stockdog
- 22 Jul 2005 19:50
- 1175 of 2787
The below Sharecast news item may suggest Mark Kingsley has moved NOMAD to increase its opportunity of finding the right investment opportunity for its cash and AIM listing, or maybe DGT have one lined up for it which is why they moved there.
Date: Wednesday 08 Jun 2005
LONDON (ShareCast) - Cash shell Mark Kingsley produced another small loss for the first half but said it believes retaining its AIM listing was in the best interests of shareholders.
Mark Kingsley reported a loss of 23,000 in the six months to April from a loss of 22,000 a year earlier. The group has net assets of 2.67m compared with 2.68m a year ago.
The group reiterated that it favours an asset backed investment to enhance shareholder value but said it has recently investigated three technology opportunities and some energy related investments and also held talks at one point with a property developer.
In the current low inflation environment, with easy access to debt, finding ' value' in any deal remains very challenging, said Mark Kingsley
sd
Date: Wednesday 08 Jun 2005
LONDON (ShareCast) - Cash shell Mark Kingsley produced another small loss for the first half but said it believes retaining its AIM listing was in the best interests of shareholders.
Mark Kingsley reported a loss of 23,000 in the six months to April from a loss of 22,000 a year earlier. The group has net assets of 2.67m compared with 2.68m a year ago.
The group reiterated that it favours an asset backed investment to enhance shareholder value but said it has recently investigated three technology opportunities and some energy related investments and also held talks at one point with a property developer.
In the current low inflation environment, with easy access to debt, finding ' value' in any deal remains very challenging, said Mark Kingsley
sd
stockdog
- 22 Jul 2005 19:59
- 1176 of 2787
Croatia Ventures is also changing tack on finding a suitable reverse takeover with a time limit on its options under the new rules, as per the below RNS today. Again, maybe DGT have an opportunity lined up, in which case some advisory fees seem imminent.
Croatia Ventures PLC
22 July 2005
FOR IMMEDIATE RELEASE 22 July 2005
Croatia Ventures plc
("Croatia Ventures" or the "Company")
Change of investment strategy
Board changes
Proposed change of name
In the Company's Admission Document dated 18 March 2005, the Directors set out
the Company's investment strategy to make acquisitions and/or investments in
Croatia. Since publication of the Admission Document, the Directors have
examined a number of prospective investment opportunities in Croatia but have
failed to identify a suitable opportunity for the Company which the Directors
believe can be sensibly financed. In the meantime, the Directors are being
approached with UK based business opportunities in the general engineering and
industrial sectors, which need to be examined in more detail but which, your
Board believes, may be opportunities with the potential for building a
profitable group. In the interests of establishing and enhancing shareholder
value, the Board has concluded that a change in the Company's investment
strategy is appropriate.
Investment Objectives and Critera
The Board believes that investment opportunities exist in the European
industrial and engineering sectors and has appointed directors with considerable
experience in these sectors effectively to assess these opportunities.
The Company will be an active investor and it is likely to make only one
investment. When the Company makes such an investment under the changed
investment strategy, the transaction will be treated as a reverse take-over
under Rule 14 of the AIM Rules, and trading in the ordinary shares of the
Company will be suspended until the Company has published an admission document.
This acquisition will be subject to shareholder approval.
If the Company fails to make an acquisition under the changed investment
strategy by 1 April 2006, trading in the ordinary shares of the Company may be
suspended under Rule 40.
In order to evaluate its proposed investments, the Board is pleased to announce
the appointments of Mr John Wheatley, 54, and Mr Jon Peter Pither, 71, as
non-executive directors with immediate effect.
Croatia Ventures PLC
22 July 2005
FOR IMMEDIATE RELEASE 22 July 2005
Croatia Ventures plc
("Croatia Ventures" or the "Company")
Change of investment strategy
Board changes
Proposed change of name
In the Company's Admission Document dated 18 March 2005, the Directors set out
the Company's investment strategy to make acquisitions and/or investments in
Croatia. Since publication of the Admission Document, the Directors have
examined a number of prospective investment opportunities in Croatia but have
failed to identify a suitable opportunity for the Company which the Directors
believe can be sensibly financed. In the meantime, the Directors are being
approached with UK based business opportunities in the general engineering and
industrial sectors, which need to be examined in more detail but which, your
Board believes, may be opportunities with the potential for building a
profitable group. In the interests of establishing and enhancing shareholder
value, the Board has concluded that a change in the Company's investment
strategy is appropriate.
Investment Objectives and Critera
The Board believes that investment opportunities exist in the European
industrial and engineering sectors and has appointed directors with considerable
experience in these sectors effectively to assess these opportunities.
The Company will be an active investor and it is likely to make only one
investment. When the Company makes such an investment under the changed
investment strategy, the transaction will be treated as a reverse take-over
under Rule 14 of the AIM Rules, and trading in the ordinary shares of the
Company will be suspended until the Company has published an admission document.
This acquisition will be subject to shareholder approval.
If the Company fails to make an acquisition under the changed investment
strategy by 1 April 2006, trading in the ordinary shares of the Company may be
suspended under Rule 40.
In order to evaluate its proposed investments, the Board is pleased to announce
the appointments of Mr John Wheatley, 54, and Mr Jon Peter Pither, 71, as
non-executive directors with immediate effect.
stockdog
- 22 Jul 2005 20:02
- 1177 of 2787
Correction - I've just looked at DGT's website and they show both these new clients as Broker clients also - so add another 5,000 to the retainers for H2!
Also good for the future when they need to raise more funds when they have found their reverse takeover targets.
Happy thoughts.
sd
Also good for the future when they need to raise more funds when they have found their reverse takeover targets.
Happy thoughts.
sd
overgrowth
- 22 Jul 2005 20:31
- 1178 of 2787
sd - well spotted - I never thought that the DGT website would have been updated at the speed of light.
It looks as though of the team has been brushing up on their web page design skills, which is great as we should continue to get rapid updates in future also.
It looks as though of the team has been brushing up on their web page design skills, which is great as we should continue to get rapid updates in future also.
moneyplus
- 22 Jul 2005 21:42
- 1179 of 2787
very pleased with all the good news and future prospects but after we reach say 2p any further projections or are you all thinking of taking profits? I'm very happy with my profits so far and don't want to be greedy--on the other hand this does seem to be a cracking little company with an excellent management why sell out??
Warren Buffett says stay on board a good co. others say don't fall in love with a company!
Warren Buffett says stay on board a good co. others say don't fall in love with a company!
overgrowth
- 22 Jul 2005 22:55
- 1180 of 2787
mp - the best solution could well be to take profits on half and leave the other half as a longer term investment.
All depends on market sentiment though, if the markets have a downturn at some point in the future then DGT's performance will obviously suffer. I'll continue to hold but monitor regularly - unless I need the cash for other reasons.
Buffet invests in companies which have world beating products which there is estimated to be an ever growing need for and he "holds for ever" to achieve impressive compound growth figures for Berkshire Hathaway and to avoid paying tax on a regular basis.
"Don't fall in love with a company" is particularly apt when applied to small caps., however so too is "let your winners run".
I agree that DGT are now looking strong as a company and the management team are doing an excellent job. Provided that Tony Rawlinson remains at the helm, I believe that with the next two years we will see the wholesale acquisition of a specialist broking team under the Dowgate umbrella to complement City Financial Associates NOMAD and advisory services. This move could well propel DGT to great heights as the "cut" that they will get from large placements will be substantial and could easily take them to the next level on a par with Daniel Stewart - at this time we are likely to see DGT branching out of AIM to represent companies in the FTSE 350 also.
All depends on market sentiment though, if the markets have a downturn at some point in the future then DGT's performance will obviously suffer. I'll continue to hold but monitor regularly - unless I need the cash for other reasons.
Buffet invests in companies which have world beating products which there is estimated to be an ever growing need for and he "holds for ever" to achieve impressive compound growth figures for Berkshire Hathaway and to avoid paying tax on a regular basis.
"Don't fall in love with a company" is particularly apt when applied to small caps., however so too is "let your winners run".
I agree that DGT are now looking strong as a company and the management team are doing an excellent job. Provided that Tony Rawlinson remains at the helm, I believe that with the next two years we will see the wholesale acquisition of a specialist broking team under the Dowgate umbrella to complement City Financial Associates NOMAD and advisory services. This move could well propel DGT to great heights as the "cut" that they will get from large placements will be substantial and could easily take them to the next level on a par with Daniel Stewart - at this time we are likely to see DGT branching out of AIM to represent companies in the FTSE 350 also.
stockdog
- 22 Jul 2005 23:52
- 1181 of 2787
Looking at the details of the Fundamental-e placing (what a mess!) of approx 880k before expenses, pth's NOMAD fees of 30k may be about right, but CFA also act as Broker to the company for which there would also be some fees/commission, maybe as much as 50k - any comments?
sd
sd
ptholden
- 23 Jul 2005 11:06
- 1182 of 2787
sd
Good point, I think somewhere between 3-5% of the placing would be about right. So perhaps a little less than your 50k and settle on another 40k?
Won't be far of I don't think.
pth
PS Just to reinforce sd's comments, this is a cracking thread, especially when compared to the lunacy of others on the board. Well done to all posters for excellent research, informed comment and thought provoking rationale. Collective pat on the back.
Good point, I think somewhere between 3-5% of the placing would be about right. So perhaps a little less than your 50k and settle on another 40k?
Won't be far of I don't think.
pth
PS Just to reinforce sd's comments, this is a cracking thread, especially when compared to the lunacy of others on the board. Well done to all posters for excellent research, informed comment and thought provoking rationale. Collective pat on the back.
ptholden
- 23 Jul 2005 11:24
- 1183 of 2787
Have just been checking the DGT website and found a company called Enterprise North listed as both NOMAD and Broker. Can't say I have noticed them before, certainly not on my stockwatch or did I just miss them before?
Edit. Ah, all becomes clear, ENTH were Mosaique, have changed their name!
pth
Edit. Ah, all becomes clear, ENTH were Mosaique, have changed their name!
pth
stockdog
- 23 Jul 2005 11:42
- 1184 of 2787
pth - on reflection Broker commission could be as low as 25k ~3%, since 90% of the new funds came from directors/existing holders for whom a lower commission would, I suspect, be payable, since there is less work in arranging/procuring the funds.
MoneyWeek lists Tellings Golden Miller as their gamble of the week - SP at about 1.00 with 60p per share pay out to come from the proceeds of their recent 20m disposal of their London bus division. Evidently do not need to raise fresh funds in the near future, but nice to see a client being promoted.
sd
MoneyWeek lists Tellings Golden Miller as their gamble of the week - SP at about 1.00 with 60p per share pay out to come from the proceeds of their recent 20m disposal of their London bus division. Evidently do not need to raise fresh funds in the near future, but nice to see a client being promoted.
sd
stockdog
- 23 Jul 2005 12:04
- 1185 of 2787
In light of subsequent comments, here's a quick re-edit of my post 1174 above.
I will take pth's suggested 30k NOAMD fee and a conservative 25k Broker commission for the FIE placing and allow 1/2 a year of 22,500 for each of the two new NOMAD/Broker appointments - totals 77,500 to kick off H2 new earnings.
We already have estimated 126,250 H2 earnings from pre-2005 client retainers and 141,500 from H1 2005 client retainers, so a total for H2 so far of 345,250.
My model suggests a further 669,375 from
Retainers - 4 NOMAD only new clients half for 1/2 and half for 1/4 of a year (26,250), 4 more NOMAD/Broker clients placing funds one for 1/2 and three for 1/4 of a year (28,125) retainers.
Sundry advice and Broker transaction fees/commissions for placings for new and existing clients - 615,000. I suspect at least one of the two new clients may raise funds before the end of the year, since they are both looking for a reverse takeover which may require more than they have on their balance sheet, but they are not IPO's raising money now.
Given the prospects for "scores" of AIM IPO's over the next few months (Scott Longley on Bloomberg Money) we may well get even more new clients - however, the level of new fund placings is difficult to predict, so I remain conservative, as ever with my numbers.
Chart looks good - the multiple formation of the last month can be seen as a "pennant rampant", heralding (geddit?) further moves north after a wellcome hint of consolidation at the current 76p level (which has its own short blunt "pennant couchant" form).
In the words of Snakey White's old song, "One day your pence will come . . . "
sd
I will take pth's suggested 30k NOAMD fee and a conservative 25k Broker commission for the FIE placing and allow 1/2 a year of 22,500 for each of the two new NOMAD/Broker appointments - totals 77,500 to kick off H2 new earnings.
We already have estimated 126,250 H2 earnings from pre-2005 client retainers and 141,500 from H1 2005 client retainers, so a total for H2 so far of 345,250.
My model suggests a further 669,375 from
Retainers - 4 NOMAD only new clients half for 1/2 and half for 1/4 of a year (26,250), 4 more NOMAD/Broker clients placing funds one for 1/2 and three for 1/4 of a year (28,125) retainers.
Sundry advice and Broker transaction fees/commissions for placings for new and existing clients - 615,000. I suspect at least one of the two new clients may raise funds before the end of the year, since they are both looking for a reverse takeover which may require more than they have on their balance sheet, but they are not IPO's raising money now.
Given the prospects for "scores" of AIM IPO's over the next few months (Scott Longley on Bloomberg Money) we may well get even more new clients - however, the level of new fund placings is difficult to predict, so I remain conservative, as ever with my numbers.
Chart looks good - the multiple formation of the last month can be seen as a "pennant rampant", heralding (geddit?) further moves north after a wellcome hint of consolidation at the current 76p level (which has its own short blunt "pennant couchant" form).
In the words of Snakey White's old song, "One day your pence will come . . . "
sd
EWRobson
- 23 Jul 2005 22:06
- 1186 of 2787
Reckon posters on this thread should win the inaugural thread of the year competition: I certainly can't recall the depth of research elsewhere. Are you listening, Ian Taylor?
moneyplus, that shrewd, profit oriented young lady (how's the new grandchild getting on - matthe Eric is doing great) asks the intersting question whether she should be ahppy with 2p from this share. I think that could well be reasonable on the basis of the presnt business as it implies a cap. of 12m. 1.2m pbt is in our sites so that underwrites 2p on a pe of 10. But the stated policy is to diversify around the core business, either by generic growth or acquisition. As the sp rises, it becomes more tempting to go the latter route. It seems particularly significant that DGT are picking up business from other nomads/brokers. My own view is that we should wait and see how the company develops. Expansion by acquisition is fine but it can mean dilution as, for instance, with Yoomedia. Byb the end of the year we should have a better idea of generic growth rates and projections. og is [probably right as usual in his suggestion of taking half profits. I have already done this, probably prematurely, but really beacuse I needed the funds. I still have that sign of virility - a million shares.
Eric
moneyplus, that shrewd, profit oriented young lady (how's the new grandchild getting on - matthe Eric is doing great) asks the intersting question whether she should be ahppy with 2p from this share. I think that could well be reasonable on the basis of the presnt business as it implies a cap. of 12m. 1.2m pbt is in our sites so that underwrites 2p on a pe of 10. But the stated policy is to diversify around the core business, either by generic growth or acquisition. As the sp rises, it becomes more tempting to go the latter route. It seems particularly significant that DGT are picking up business from other nomads/brokers. My own view is that we should wait and see how the company develops. Expansion by acquisition is fine but it can mean dilution as, for instance, with Yoomedia. Byb the end of the year we should have a better idea of generic growth rates and projections. og is [probably right as usual in his suggestion of taking half profits. I have already done this, probably prematurely, but really beacuse I needed the funds. I still have that sign of virility - a million shares.
Eric
stockdog
- 24 Jul 2005 10:39
- 1187 of 2787
Firstly, an apology for taking more than my fair share of space on this board, but the case of FEI has intrigued me.
In passing, Eric, I would also like this thread to be considered for the "in doggerel" award (when it is inaugurated, woof course).
Stephen Thomson was appointed non-exec chair in October following Simon Eagle's resignation in July last year. Thomson also happens to be deputy chairman of Oak Holdings and a non-exec of Tellings Golden Miller, both DGT clients. Seems like he was recommended/placed by DGT - an interesting part of a NOMAD's brief (now there's a concept to slake your thirst in the dessert!).
A closer examination of the new placing on Friday reveals the following thoughts:-
The chairman, CEO and FD subscribed for 128,000,000 shares between them, obviously pour encourager les autres. Let's assume there was no commission payable to DGT on these.
Two new major holders, Dr Oussama Al-Dimashki and Mubeen Corporation, subscribed for a total of 501,526,304 shares, roughly half each, but quite possibly connected parties. These two now own 59% of the issued capital including attached warrants. Can someone tell me, is this carefully pitched below the 60% mark which would trigger a full bid? I imagine that DGT worked hard to introduce this fresh capital, earning maybe 5% commission.
I guess the remainder of the placing, 74,400,000 shares, being such a round number also went to a new(?), single placee, presumably introduced by DGT, also for a 5% commission. I also doubt whether any existing shareholders had the stomach for putting good money after bad.
The total commission was therefore nearer 35,995. There may have been other Broker fees associated with this deal, making as much as 50,000 total Broker fees in addition to the 30,000 NOMAD fees estimated by og. A total of 9% of costs raised does not seem unduly high, given the parlous state of FEI which DGT had to sell to the market. TR rescuing FEI from the seeds his forebears sowed with Simon Eagle who seems to be of that ilk!
After full exercise of the warrants (which expire a year hence) I assume at the same price, there will be 229,000,531 (14%) old shares in existance to 1,407,852,608(86%) new shares (incl. warrants exercised) in FEI - all of which really belongs to the new thread started by shaikh2 on Friday, to which I am transferring my further FEI thoughts (Thought Transference by Dogs - now there's a captivating idea to raise fast city money on, Tony).
sd
In passing, Eric, I would also like this thread to be considered for the "in doggerel" award (when it is inaugurated, woof course).
Stephen Thomson was appointed non-exec chair in October following Simon Eagle's resignation in July last year. Thomson also happens to be deputy chairman of Oak Holdings and a non-exec of Tellings Golden Miller, both DGT clients. Seems like he was recommended/placed by DGT - an interesting part of a NOMAD's brief (now there's a concept to slake your thirst in the dessert!).
A closer examination of the new placing on Friday reveals the following thoughts:-
The chairman, CEO and FD subscribed for 128,000,000 shares between them, obviously pour encourager les autres. Let's assume there was no commission payable to DGT on these.
Two new major holders, Dr Oussama Al-Dimashki and Mubeen Corporation, subscribed for a total of 501,526,304 shares, roughly half each, but quite possibly connected parties. These two now own 59% of the issued capital including attached warrants. Can someone tell me, is this carefully pitched below the 60% mark which would trigger a full bid? I imagine that DGT worked hard to introduce this fresh capital, earning maybe 5% commission.
I guess the remainder of the placing, 74,400,000 shares, being such a round number also went to a new(?), single placee, presumably introduced by DGT, also for a 5% commission. I also doubt whether any existing shareholders had the stomach for putting good money after bad.
The total commission was therefore nearer 35,995. There may have been other Broker fees associated with this deal, making as much as 50,000 total Broker fees in addition to the 30,000 NOMAD fees estimated by og. A total of 9% of costs raised does not seem unduly high, given the parlous state of FEI which DGT had to sell to the market. TR rescuing FEI from the seeds his forebears sowed with Simon Eagle who seems to be of that ilk!
After full exercise of the warrants (which expire a year hence) I assume at the same price, there will be 229,000,531 (14%) old shares in existance to 1,407,852,608(86%) new shares (incl. warrants exercised) in FEI - all of which really belongs to the new thread started by shaikh2 on Friday, to which I am transferring my further FEI thoughts (Thought Transference by Dogs - now there's a captivating idea to raise fast city money on, Tony).
sd
EWRobson
- 24 Jul 2005 14:31
- 1188 of 2787
sd You're definitely giving a dog a good name!
moneyplus Coming back to your 'do you sell at 2p' question, have you clicked on the 'for fundamentals and profit projections' box at the head of this thread. Supposedly by Saddam Bin laden, I suspect it is og or could be even sd or pth. Whoever, it is an excellent analysis. It includes a table of projected sp depending on pbt and pe. There is good confidence in pbt of 500K+ for first half so I would take a downside of 750K for the full year and an upside of 1.25m. If you take a pe of 12 for the former and 20 for the latter you get a projected sp of 1.45p for the former and 4.05p for the latter. This would appear to give a reasonable range of outcomes for the full year. Personally, I will revisit these projections following the interims and trading statment in the latter part of August. But the ineviatable conclusion is that the position is ADD at the moment with the expectation that the sp should move to something like 3p this year. That is still only a cap. of 18.5m. We have already had a good run but it is quite amazing to have the level of confidence about the projections of a company that so far exceed the current valuation.
Eric
moneyplus Coming back to your 'do you sell at 2p' question, have you clicked on the 'for fundamentals and profit projections' box at the head of this thread. Supposedly by Saddam Bin laden, I suspect it is og or could be even sd or pth. Whoever, it is an excellent analysis. It includes a table of projected sp depending on pbt and pe. There is good confidence in pbt of 500K+ for first half so I would take a downside of 750K for the full year and an upside of 1.25m. If you take a pe of 12 for the former and 20 for the latter you get a projected sp of 1.45p for the former and 4.05p for the latter. This would appear to give a reasonable range of outcomes for the full year. Personally, I will revisit these projections following the interims and trading statment in the latter part of August. But the ineviatable conclusion is that the position is ADD at the moment with the expectation that the sp should move to something like 3p this year. That is still only a cap. of 18.5m. We have already had a good run but it is quite amazing to have the level of confidence about the projections of a company that so far exceed the current valuation.
Eric
ptholden
- 24 Jul 2005 14:46
- 1189 of 2787
Eric
Can assure you that I am not SBL. SBL generally posts on ADVFN. It is reassuring to note that his, sd's and my own projections are pretty much 'd'accord'. Personally, I still wonder if the fees earnt from the TGM disposal may yet offer a real surprise. I think most of us have assumed roughly 100k (conservative) or perhaps as much as 250k (possibly still conservative). Considering that DGT generally work on 3% (ish) for placings etc, it may be more. No doubt we will have a fairly good idea when the Interims are published next month. It would be a fantatic shot in the arm if it transpires that it was close to the 3%. Would certainly explain TRs excitement expressed in buying more shares.
pth
Can assure you that I am not SBL. SBL generally posts on ADVFN. It is reassuring to note that his, sd's and my own projections are pretty much 'd'accord'. Personally, I still wonder if the fees earnt from the TGM disposal may yet offer a real surprise. I think most of us have assumed roughly 100k (conservative) or perhaps as much as 250k (possibly still conservative). Considering that DGT generally work on 3% (ish) for placings etc, it may be more. No doubt we will have a fairly good idea when the Interims are published next month. It would be a fantatic shot in the arm if it transpires that it was close to the 3%. Would certainly explain TRs excitement expressed in buying more shares.
pth
stockdog
- 24 Jul 2005 15:27
- 1190 of 2787
Eric
I can also confirm I am not Saddog Bone Laden - odd sense of humour for these troubled days, I always think (so is his!).
pth - If the fees for TGM disposal are indeed 600k, then my 12 month SP mid price projection is 2.73p. This is an importatnt number in three ways: it is the frequency of the principal line for the Nuclear Magnetic Resonance chart for Hydrogen; 273Kelvin is equivalent to 0Centigrade to the nearest whole number; it was my telephone number (after the local exchange STD bit) for the first 20 years of my life. So there we have it - a racing certainty (never sure if that expression isn't meant to be used ironically!).
sd
I can also confirm I am not Saddog Bone Laden - odd sense of humour for these troubled days, I always think (so is his!).
pth - If the fees for TGM disposal are indeed 600k, then my 12 month SP mid price projection is 2.73p. This is an importatnt number in three ways: it is the frequency of the principal line for the Nuclear Magnetic Resonance chart for Hydrogen; 273Kelvin is equivalent to 0Centigrade to the nearest whole number; it was my telephone number (after the local exchange STD bit) for the first 20 years of my life. So there we have it - a racing certainty (never sure if that expression isn't meant to be used ironically!).
sd
moneyplus
- 24 Jul 2005 16:06
- 1191 of 2787
Eric -sd and pth thanks for the forward projections and advice. I'm enjoying watching this one rise so I 'm planning to sit on my holding until the end of the year at least. might even add and reach the magic million -I'm nearly there!
moneyplus
- 24 Jul 2005 16:23
- 1192 of 2787
Eric thank you for the pointer I have just read the fundamentals thread properly! and am very encouraged to keep topping up-good work from SBL and much appreciated. Glad to hear your new grandson is doing well as is my new granddaughter as long as she's kept topped up! very pleased you're back on the bb--I have used my squelch button for the first time recently, couldn't take the sheer nastiness from somebody-quite different from all our regular friends.
overgrowth
- 24 Jul 2005 23:26
- 1193 of 2787
Eric, I can confirm that SBL is a bona fide individual poster, in the same way that SD is a bona fido poster lol !
He's had the same handle for yonks on advfn - though it does seem a little strange in these times.
Nevertheless, I agree that SBL's analysis is top notch and it's very reassuring to hear that sd's and pth's models come up with near enough the same sort of figures.
Looking good for another bullish phase next week !
He's had the same handle for yonks on advfn - though it does seem a little strange in these times.
Nevertheless, I agree that SBL's analysis is top notch and it's very reassuring to hear that sd's and pth's models come up with near enough the same sort of figures.
Looking good for another bullish phase next week !
stockdog
- 25 Jul 2005 08:01
- 1194 of 2787
og - get the gender right, please - it's bono fido!
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