ITE Group Live Discussion

devonplay 11 Jul 2018

Results of rights issue ITE Group plc (“ITE” or the “Company”) today announces that the 7 for 4 Rights Issue at 56.2 pence per New Ordinary Share announced on 6 June 2018 closed for acceptances at 11.00 a.m. (London time) on 10 July 2018. The Company received valid acceptances in respect of 463,661,100 New Ordinary Shares, representing approximately 98.24 per cent. of the total number of New Ordinary Shares offered to Qualifying Shareholders pursuant to the fully underwritten Rights Issue. so, now just the wait to see how long it takes for the new shares to be hit accounts. 8 am anyone? DL

devonplay 25 Jun 2018

Right Issue Rights Issue The Record Date for entitlement under the Rights Issue was the close of business on 21 June 2018. Qualifying Non-CREST Shareholders (other than Shareholders with a registered address in, subject to certain exceptions, the United States or any of the other Excluded Territories) will be sent a Provisional Allotment Letter in connection with the Company’s Rights Issue today, and Qualifying CREST Shareholders (other than Shareholders with a registered address in, subject to certain exceptions, the United States or any of the other Excluded Territories) will receive a credit to their appropriate stock accounts in CREST in respect of the Nil Paid Rights to which they are entitled as soon as practicable after 8.00 a.m. on 26 June 2018. Applications have been made to the FCA for 471,938,893 New Ordinary Shares to be admitted to the premium listing segment of the Official List and to the London Stock Exchange for the Rights Issue Shares to be admitted to trading on the main market for listed securities of the London Stock Exchange. It is expected that Admission will become effective and dealings in Rights Issue Shares, nil paid, will commence at 8.00 a.m. on 26 June 2018. The latest time and date for acceptance, payment in full and registration of renunciation of Provisional Allotment Letters is 11.00 a.m. on 10 July 2018. The Rights Issue has been fully underwritten by Investec Bank plc (“Investec”) and Numis Securities Limited (“Numis”).

secret name 06 Jun 2018

Rights Issue Did I miss something in the rights issue prospectus? I cannot see any major shareholders giving an irrevocable undertaking to subscribe.

Weildy 25 Jan 2018

Trading update ITE Group plc is today publishing a trading update for the period from 1 October 2017, incorporating the Group's first quarter trading period to 31 December 2017. This coincides with the Group's Annual General Meeting which is being held at 12 noon today and the appointment of the new Chairman, Richard Last, announced earlier.First quarter trading updateThe Group's performance in the quarter was in line with management expectations. The early benefits of the Transformation & Growth ("TAG" programme continue to be felt with forward bookings up double digit on a like-for-like basis into 2018.Revenue for the three month period to 31 December 2017 was £40.7m (three months to 31 December 2016: £35.0m). The increase is largely due to the Breakbulk North America event not taking place in the comparative period due to event timing, the first-time impact of two events from our prior year acquisition of Gehua in China, and this being the stronger biennial quarter. On a like-for-like basis revenues for the quarter are 5% higher than the comparative period. Two top 10 events ran in the quarter, collectively delivering double digit like-for-like revenue growth.Financial positionThe Group continues to benefit from the earlier cash collections following our onsite rebooking initiative. After continued TAG investment in the period, but strong operational cash conversion, net debt is circa £52m.TAG programme updateThe three year TAG Programme, announced in May 2017, is progressing according to plan. The first iteration of the 'Events Best Practice blueprint' has been launched and significant progress has been made on the design of the integrated sales and marketing system. During the quarter we continued the proactive management of our event portfolio, discontinuing 21 less profitable events.OutlookAs at 19 January 2018, the Group had booked circa £113m of revenue for the 2018 financial year (20 January 2017: £99m) representing circa 70% of market expectations for the full year. On a like-for-like basis, these revenues are 16% ahead of this time last year and on a volume basis are 7% ahead reflecting the impact of earlier bookings and ITE's focus on core events following the launch of the early TAG initiatives.The Board is pleased with the performance, which is in line with expectations.

devonplay 13 Jul 2017

Trading Statement That was a very positive reaction.Good news about Moscow.I keep wondering when the UK's approach to Russia will thaw.A Grand Alliance. These were Grand Results, the share price move was doubly grand.DL

II Editor 10 Feb 2017

NEW ARTICLE: A bargain share or certain sell? "It's decision time for troublesome LSE:ITE:ITE. I've read the annual report. I've attended the AGM. Now it's time to decide whether the share ranked lowest by the Decision Engine deserves its place in the Share Sleuth portfolio*.Since I'm taking ..."[link]

II Editor 12 Feb 2016

NEW ARTICLE: AGM: If not now, then when? "The problem for investors timing ITE’s recovery is that by the time it’s recovering, it may be too late to profit.I don’t think anyone’s confident about oil prices, certainly not Russell Taylor who’s wary they might lurch down again. He’s ..."[link]

II Editor 19 Jan 2016

NEW ARTICLE: ITE: The quest to be #1 in emerging markets "ITE aims to be number one in emerging markets just as emerging markets have gone out of fashion. It could be a contrarian’s dream.In preparation for ITE’s AGM in a few weeks time, I’ve been thinking about the most important question in my ..."[link]

II Editor 08 Dec 2015

NEW ARTICLE: ITE: Walking a financial tightrope "The exhibitions organiser acutely exposed to recession in Russia and the Ukraine is diversifying but weakening its balance sheet. I’d been dreading last week’s results from ITE. Not because I feared they would be dreadful, but because I ..."[link]

mcescher 28 Jul 2015

Interesting infographic report on ITE With a PE of 14.6x, what are peoples opinions on whether ITE is good value? I've been researching on here [link]

II Editor 06 Feb 2015

NEW ARTICLE: Five top picks for the future "To recap, I pick these shares from the 50-odd companies tracked in the Share Sleuth portfolio spreadsheet. They share two qualities: I believe their long term prospects are good (although the short-term may be a different story) and their market ..."[link]

lambrini girl 04 Feb 2015

Re: Is there any value here? >>Well, let's give it a go and hope for 140<<U soon got your 140 xx

Blanketstacker 02 Feb 2015

Re: Is there any value here? Well, let's give it a go and hope for 140 before 80! (sounds like granny's blood presure!)

lambrini girl 02 Feb 2015

Re: Is there any value here? my 5 year charts gave this level as a BUY but using iii longer(1988) charts could go to 80p..worth a punt..

Blanketstacker 02 Feb 2015

Re: Is there any value here? I also meant to mention that directors have bought recently in the 150s.