broomfielder
25 May 2016
Re: Topping I wish B!!Noticed that trade (196,394 showing as a 'buy') a short time ago and just like a very similar amount traded last week, failed to make any impression on the SP or spread. The 2 other trades largely offset each other.Another big trade for Kellan so perhaps something afoot behind the scenes.Hopefully we might hear soon.BF
BOWOOD
25 May 2016
Topping BF; is that you topping up?
BOWOOD
18 May 2016
Re: Trades Quote still 1.25p - 1.50p though. Still well under what it should be.
broomfielder
18 May 2016
Trades A significant opening trade of 192,500 (deemed a 'buy') I had hoped would have moved the SP more than the nominal uplift of 0.12pts. Don't know if that suggests it's part/all of a rollover rather than an outright purchase.Nonetheless always good to see some activity, particularly acquisitions. Let's hope some news is in the offing.B
broomfielder
22 Apr 2016
Re: Share liquidity (or lack of) All fair points B. Support of existing key shareholders has been crucial here to date and I guess they will now understandably be looking for payback. Each obviously could have sharply differing projected exit points (or at least points where some profit/cash is taken out).Hence I recognise that increasing share liquidity (and potentially diluting their holdings or costing them more by way of subscription etc) is far from straight forward and managing everyone's aspirations isn't easy.But then again being truly innovative never is easy; it's what after all separates true over achievers from mere average operators.I just think that certain people could cement their reputations by how they manage the Group's next step. Next Interims should as you say support the Management's case (of cost control/expenditure priority and strategy revision etc) so we really are on the launch pad with the record of reduced losses and return to profit at Operating level.Your SP target is IMO realistic driven off what would be a conservative pe ratio (I really should get round to doing a peer group analysis across the key indicators/performance hurdles). We do however need a catalyst to ignite that blue touch paper!B
BOWOOD
22 Apr 2016
Re: Share liquidity (or lack of) Yes I agree that the lack of liquidity is certainly a deterant here and an acquisition possibly funded by a placement would increase the free float. Recovery is underway and I cannot see any of the main shareholders wanting out at current valuations. Reeves is still there and Bowmer bought back in - why. PB could play a part here as having effectively saved the business he may want to place some or all of his holding, but not at current levels. It may help to have a decent set of Interims in August to whet the markets appetite. KLN seems now to be well managed and is beginning to benefit from its huge operational gearing and the results for the current year could see a much better rating. I 'm here for the longer term and looking for something north of 5p in a year or so - even then the m/c would be less than £17m and a possible pe of about 12.
broomfielder
21 Apr 2016
Share liquidity (or lack of) With a dealing spread of above 25%, the lack of liquidity in this share requires urgent attention in my view.Albeit within the ridiculous spread, a sale today of just 7000 shares moved the actual deal price c11% downward from its previous level. While you could argue a couple of sizeable purchases could really push this SP skyward, wider Investor interest is effectively neutered by the sheer scale of the spread. That's reflected in the regular absence of daily activity in KLN's shares.The spread of course is a symptom rather than a cause here and at the risk of labouring the point, either a capital restructure is undertaken (preferably in conjunction with a dynamic aquisition) or this Company would be better off Private. We really must create a market for the shares and of course have sufficient in free float.I'm sure however all bets are off at least until the EC Referendum. This is probably the reason for many Cos sitting on their hands at the moment - while the outcome of the Referendum wont necessarily affect their businesses, no one wants to be caught out by those who only view matters with the benefit of hindsight.B
BOWOOD
13 Apr 2016
RWA Robert Walters has come in with a strong first quarter so let's hope that KLN can reflect something similar plus further recovery
broomfielder
11 Apr 2016
Re: Update Previous entry 1st Para meant to read " Operating Profits of effectively £500k or thereby per quarter x 3 (for 18 months to end 2016).B
broomfielder
11 Apr 2016
Re: Update B - H2 was a real move forward and should this be replicated into current year, then FY results could produce O Profits around the £1m. I think if that sort of performance was being shown over what would then be an 18 month period close to OP of c £500k would then be transformational for the SP.Much sooner as you say could a signal at the forthcoming AGM when an update is most likely. That could be the starting gun being fired provided there are a raft if other positive noises along the lines we have outlined on this BB previously.A spike in the SP is always possible with so few shares in free float. 2p should already have seen IMO, so a sustained period above this I would think would be the first objective. Thereafter provided the news is good the prospects look very good.Things will be clearer once we get the detail. I know it's obvious but an acquisition and how it's to be funded could be crucial.B
BOWOOD
10 Apr 2016
Re: Update BF - If we ignore the share based credit of £150k in the first half the operating profit was £191k. The o/p for the second half was £483k and shows how well the second half improved. If the recovery has continued; and we may get an update at the AGM then operating profits for the current year could be in the region of £1.2m. Should this be the case then a SP nearer 3p could be justified. Any thoughts?
BOWOOD
07 Apr 2016
Update Unable to attend AGM but hope that there could be a 1st qtr update. Annual figures together with AGM being early could indicate the group is positive about progress and an upbeat update could help investor and market sentiment.
BOWOOD
30 Mar 2016
Re: AGM It is interesting to note that John Bowmer returned to the register during the year as it was he and Tony Reeves were party to effectively setting the group up. The acquisition of Quantica although good at the time left KLN with a fair bit of debt and of course capacity, ahead of the recession. I feel that over the recent few years the post reccession difficulties have been overcome to a position where organic progress can be supplemented by an acqusition. A placing to obtain the cash together with a capital reorganisation should improve liquidity, perhaps with further equity being released by PB. As you suggest BF the sp has no potential factored in.
broomfielder
29 Mar 2016
Re: AGM My earlier discussions with RK left me with both a sense of encouragement and expectation. Not that any information was obviously imparted on sensitive material etc but what came across was a clear desire not only to demonstrate Kellan's recovery but move forward substantially in the year ahead (now the current year). Something that is simply not reflected in today's SP.Whether as you say B, the earlier AGM date is significant for a wider announcement who knows but I do think it's only a matter of time before a major announcement is made. There is only so far you can take organic growth and internal restructuring as I have said before and there appears to be both the appetite and desire to move the Group up a distinct notch.Quite apart from the Group's trading operation, the financial structure needs to be visited albeit I concede this has served them well thus far. However should there be a significant acquisition it isn't only going to require funding, it would merit a capital restructure in my view with its corresponding impact on share liquidity amongst other things.More encouraging news expected than for some time I would wager.Unfortunately I won't make the AGM but hopefully there will be someone who will be good enough to post their views on it here for us.B
BOWOOD
26 Mar 2016
AGM Scheduled for 15 April. Nearly six weeks earlier than last year. Could there be some news to come that we know nothing about? With recovery gaining traction, the current low rating could be an opportunity to top up. PB could well place some of his holding to improve liquidity and take a well earned profit. It would also put control back into the hands of day to day management. Anyone going to the AGM?
