Despite having stated early this month “all of the proposals received attribute little value to the equity in the company”, the daft egged on by the mendacious led shares in Entu (ENTU) to recently bounce. This was also despite numerous warnings HERE. Now it’s “Suspension of Trading on AIM”…
Shares in ENTU (ENTU) were off by 13% today so forcing a statement clarifying just how fucked the company is. Either the company gets a refinancing which will see shareholders almost entirely wiped out or the PLC will go into administration which means a 100% wipeout. The shares are now 36% off at 2.25p but that is still more than double where they were on August 2nd when Entu made almost the same admission.
Over the years I’ve watched the dying stages of a number of companies with interest, and in many cases you see a similar pattern in terms of share price movement.
Two days ago Entu (ENTU) issued a statement which essentially said that its shares were worthless. Yet today the shares have rocketed by 230% to 4.3p. This is the classic dead cat bounce.
Previously writing on energy efficient-home improvement group Entu (ENTU) last month I concluded, with the shares at circa 12p, ‘with in the near term it looking at best onerous debt, with possible discounted disposals and discounted equity issuance, on this disastrous October 2014, 100p per share, IPO, my view remains bargepole ahoy. Sell’. There’s now been a 2:55pm “Strategic Review Update”…
Last month saw a delayed profit warning from energy efficient-home improvement group Entu (ENTU) – and me particularly noting the net debt and that, although purportedly “strengthened”, the executive team still not seemingly having the answers themselves – ‘from bad (en)tu worse, issues “more complex and extend further” than expected’. There is now a “Strategic Review” announcement. Hmmm…
October 2014, 100p per share, IPO, Entu (ENTU) has issued a trading update commencing that its strengthened executive team is progressing with the implementation of a detailed action plan, as set out in the full-year results statement, to reduce costs, improve operational efficiency, leverage its supply chain, improve cash collection and strengthen controls. Good, good. But what? The shares currently more than 30% lower on the day at well below 20p. Uh oh…
A “Trading Update” announcement from Entu (ENTU) opens with that adjusted EBITDA “is expected to be within the range previously announced” and that exceptional costs relating to planned cost-saving processes are also expected to be “in line with management's previous expectations”. So why are the shares currently approaching 9% lower, towards 23p?...
Shares in home improvement group entu (ENTU) are currently further lower, at sub 20p, on the back of an agreement for the disposal of Astley Facades Ltd – for a net £1…
Provider of home improvement and energy saving & insulation products and services, Entu (UK) plc (ENTU) has announced results for its year ended 31st October 2015 - these impacted by the closure of its solar business, though with some confidence looking ahead.
Entu (ENTU) has announced results for the six months ended 30th April 2015 and that “we have seen and continue to see increased activity levels in the second half, and we remain on track to meet market expectations for the full year”.
Tipping a recent IPO is always a tad nerve-wracking as some companies just take their eye off the ball as they head to AIM, regarding it as the end of a journey not the start. And so I am rather chuffed with Entu (ENTU) which listed in the autumn at 100p, we tipped at a 107p offer and which is now 120p-124p. Well done to young Steve for it was he who spotted this. Results out this week vindicate the lad.
Investment Case: Provider of energy efficiency products and services to homeowners in the UK, entu (UK) plc (ENTU) listed on AIM at 100p per share on 30th October. However, unlike most IPO’s, the prospective ratings – a price/earnings multiple of 8.4x and forward dividend yield of 8% – suggested this one potentially attractive. This has been reinforced by a trading update earlier this month noting that the company “has seen robust trading in the year across all its divisions” and that it is seeing a positive combination of increasing brand awareness and increasing public awareness of the economic and environmental benefits of energy efficient home improvements. Still though, at a current 107p offer price – only a little above the IPO price – the shares are a buy.
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