charlie51
30 Sep 2016
Re: Huge volumes, up 7% today Thanks Gretel - overhang cleared today, so a real positive. There is no one large taker of this, so I don't expect to see an RNS notifying a notifiable holder next week. They still need IR and also a decent board - the chairman is supine and useless and they could do wit a capable UK based NED as well.35p by Christmas? Possible imv.C51
gretel
30 Sep 2016
Huge volumes, up 7% today Great to see the share price marked up on huge volumes today with 6.3m shares traded already.I can't see a shareholding precisely matching today's trades - should see an RNS today or Monday.Charlie51, great post, many thanks. Looks like any overhang is being dealt with...
charlie51
23 Sep 2016
Re: Small free float - ready to go Gretel - I was initially rather underwhelmed by the interims. Having met the management earlier this week I agree most of your post. The company are transitioning from on premise to a recurring revenue model (I wold not describe it as pure Saas). This inevitably means that numbers will be affected - generally adversely in the earlier stage of the transition. In this context the results are actually very good and the transition is being managed well, but there is still a way to go. It is a pity that this was not described in the RNS....The pipeline of opportunities is significantly higher than at any stage in the company's history. The opportunities are definitely there and the diversification into the civil air/manafacturing/oil and gas market is progressing well. Whilst I agree that the client list looks good some of those on it are tiny contributors to revenue. The overall number and of major contracts is small and the dependency on the top 3 or 4 these something of a vulnerability in my view.The market for 'learning by doing' is growing fast and they are well placed as a niche operator to capitalise on this.Cash collection and management is very good. I believe finnCap forecasts for the year could well err to the conservative.Their IR still, however, merits attention. No one, with few exceptions, know who they are or what they do and how well they do it. Demand for the stock will remain subdued until this is addressed. For reasons I do not necessarily agree with, but understand, we will not see any push on this front until 2017.The residual overhang still awaits a home ...I hold.
gretel
21 Sep 2016
Small free float - ready to go I thought the results were fine. Cash and receivables now amount to around £9m - not far off the entire m/cap.I'm pleasantly surprised by the small increase in H1 PBT to $0.81m - the transition to longer-term revenues and the impact on numbers in the shorter-term was flagged long ago, so I was anticipating a fall in PBT, though with considerable medium and long-term prospects.The current share price could be justified on the basis of PBT alone - doubling up H1's performance would give £1.2m PBT for the year against the £10.9m m/cap.Yet here SIM are with not far off £9m liquid assets after deducting payables....The list of contracts won, blue chip customers and prospects is extremely comprehensive and impressive.Interesting to see the latest list of major shareholders from the SIM web site as of a few days ago - 63% is tied up in these hands.Great in particular to see Herald with 9.9%. With Yorkville now finally completely out, having sold 4.6m shares in the last year or so, perhaps the way is clear for a decent share price advance on any further contract/partnership news
ate of information: September 12, 2016Major Shareholders A. Vizer / A. Vizer Holding Ltd 21.70% Jeffrey Braun 12.83% Herald Investment Management Ltd 9.90% Green Venture Capital Ltd 6.02% Jarvis Investment Management Ltd 4.75% Guy Poran 4.46% Shroder Euroclear Nominees Ltd 3.36%
coldascheese
20 Sep 2016
Exciting potential ahead finnCap's update out this morning:"SimiGon’s revenues have been sliding half-on-half since H2 2014 while the company has focused on delivering the massive $6.7m military training project won as a Prime Contractor in 2013. Its delivery has been slowed by the client requesting work outside the scope of the original contract, but that has been balanced with the prospect of lucrative follow-on stages. Although billings have been affected over this period, gross margins have remained high and overheads have been controlled, so SimiGon has continued to generate earnings, cash and dividends. The major project has been meeting milestones and should be completed in H2, leaving SimiGon well placed to win those lucrative subsequent phases. In the meantime, the company has also won a major 5½-year $7.9m contract in civil aviation. It is now well funded ($8.4m net cash) with major contracts to deliver and some very exciting potential contracts ahead."
Sambram
20 Sep 2016
Re: Interims finnCap's update out this morning might help:"SimiGon’s revenues have been sliding half-on-half since H2 2014 while the company has focused on delivering the massive $6.7m military training project won as a Prime Contractor in 2013. Its delivery has been slowed by the client requesting work outside the scope of the original contract, but that has been balanced with the prospect of lucrative follow-on stages. Although billings have been affected over this period, gross margins have remained high and overheads have been controlled, so SimiGon has continued to generate earnings, cash and dividends. The major project has been meeting milestones and should be completed in H2, leaving SimiGon well placed to win those lucrative subsequent phases. In the meantime, the company has also won a major 5½-year $7.9m contract in civil aviation. It is now well funded ($8.4m net cash) with major contracts to deliver and some very exciting potential contracts ahead."Via Research Tree
charlie51
19 Sep 2016
Interims Not really sure what to make of these. Best I can come up with 'more of the same'. That in my view is not good enough. The CEO here is paying himself circa 10% of the company revenues - I find that excessive (on the same measure the much maligned Martin Sorrell would be paid circa £1.2Bn rather than the £70M) he earned in 2015 ). Sorrell delivers consistent growth - and gets out and tells the world what his company does. The CEO here and the board need to look hard at themselves in the mirror.
charlie51
12 Sep 2016
Overhang cleared To judge from today's RNS they have cleared much of the overhang.....now all they need to do is some IR. The closet Chairman who is the only one of the company who resides in the UK could do with getting out and telling the investment community the story....to judge from his performance so far pigs will be flying before this happens. Regrettably.
coldascheese
31 Aug 2016
Re: Finncap Target 45p-results soon Price moving up nice as results near-looks like another order on its way"Reciprocal Procurement For The F-35 Project Reaches New High (Monday, August 15th, 2016 01:30 PM)The Ministry of Defense, continuing its countdown to the December 2016 arrival of Israel’s first F-35s, last week completed its semi-annual data summary.In the framework of the industry cooperation agreement signed in 2010 by the Defense Ministry’s Procurement Department and the plane’s manufacturers led by primary contractor Lockheed Martin, NIS 3.8 billion ($993 million) worth of reciprocal procurement transactions have thus far been signed. Since December 2015, new deals amounting to 835 million NIS have been signed, marking a 28% jump in reciprocal procurement.Since the start of 2016, the Israeli defense industries have succeeded in increasing its contracts with Lockheed Martin on the project........Other Israeli industries involved in the manufacturing of the aircraft subsystems and operating software and training include: SIMIGON, the developer of the aircraft simulation program...."Still very cheap-this may be the icing on the cake !
coldascheese
23 Aug 2016
Finncap Target 45p-results soon Finncap reiterated its target price of 45p for SIM: the flight simulator company one of the specialists in piloting drones.The interims will be out on Monday 19th SeptemberShould have cash nearly at market capital ,it certainly is cheap.
charlie51
22 Jul 2016
Re: Trades - overhang clearance? Trades here show a very limited picture. I bought (through my broker) 100k shares at 19p some 3 hours ago.I now understand that they are looking at doing some IR as well - about time. I pressed the CEO quite hard on this when I met him in the UK shortly after they released their last finals. Here's hoping. There is unrealised value here, but a very naive board who clearly understand their business, but not how to relate to investors (both II and PI).
gretel
22 Jul 2016
Re: Trades - overhang clearance? Two 515,000 trades, both at 19p - perhaps more to come, or perhaps just an institutional swap of some sort.......and three 10k buys just now have been rewarded with a tick up (and widening of the spread).Encouragingly, online earlier I could sell 40k shares at 17.25p but only buy a maximum 5k shares at 18.98p.
charlie51
22 Jul 2016
Trades Good to see some volume at last. Clearing the overhang is key - as is IR.
coldascheese
12 Jul 2016
Mkt value £10m -cash +recievables £8.5m Buyo I agree Simigon is profitable and growing +,loads of cash-nearly as much as market cash- and very underated- sooner rather than later this will be spotted -should be twice this price.
gretel
12 Jul 2016
Brexit very good for SIM holders SIM's $11m and rising cash pile and receivables is now worth around £8.5m at current pound/dollar rates.This compares to a £9.4m m/cap.Forecasts are currently:this year : 1.89p EPS, 0.49p dividendnext year : 2.17p EPS, 0.49p dividendAgain, these forecasts will have to be increased by a significant amount in sterling terms at current rates.And the dividend will be worth materially more to holders - say 0.55p now.
