Good morning! 

News releases are beginning to die down, as we head deeper into holiday season.

Indeed, those companies which issue things like their annual report on New Year's Eve, might be interpreted as not wishing very many people to read it! Or perhaps they are disorganised, and need six months to get their numbers ready (assuming their financial year ends in June).

Some things I've noticed today:

There is also a lot happening with NMC Health (LON:NMC), where the short-seller Carson Block ("Muddy Waters") launched a bear raid last week.

Timings: planning to wrap this up by 2pm. Finished at 2.30pm.



Cenkos Securities (LON:CNKS)

  • Share price: 47.5p (+7%)
  • No. of shares: 57 million
  • Market cap: £27 million

Major shareholding update

"You learn something new every day" - today I learned that Cenkos is named after Andrew Stewart's first horse.

Andrew Stewart is the man who is also responsible for the naming of the old stockbroker Collins Stewart (later bought out by Canaccord Genuity).

Stewart is one of the founder shareholders of Cenkos. He returns to the shareholder register today with a 7.4% stake (4.2 million shares).

Prior to this news, he did not have a notifiable stake.

I've mentioned a few times (e.g. in September) that Cenkos is "cheap", since it has net assets of £26 million (mostly consisting of cash and liquid financial assets) and the market cap has only been around this level.

It reported a small H1 loss, but this doesn't detract too much from the very long track record of profitability - it has traditionally been very good at linking pay to profitability, so that staff can share in the misery when business is quiet (conversely, they do extremely well when business is good).

Cenkos returned to its traditions with the reappointment this year of Jim Durkin as CEO. He is another founder shareholder…

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