Recent Insider Transactions • Mar 17
Insider recently bought UK£98k worth of stock On the 14th of March, Alexander Milne bought around 50k shares on-market at roughly UK£1.97 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth UK£148k. Insiders have collectively bought UK£396k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 07
Insider recently bought UK£98k worth of stock On the 2nd of March, Alexander Milne bought around 50k shares on-market at roughly UK£1.97 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£47k more in shares than they bought in the last 12 months. Upcoming Dividend • Mar 02
Upcoming dividend of UK£0.025 per share at 1.3% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 07 April 2023. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.3%). Recent Insider Transactions • Feb 19
Insider recently sold UK£96k worth of stock On the 10th of February, Roger Wilson sold around 50k shares on-market at roughly UK£1.93 per share. This transaction amounted to 4.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Feb 10
Wavenet Limited reached an agreement to acquire AdEPT Technology Group plc (AIM:ADT) from a group of seller and others for £50.3 million. Wavenet Limited reached an agreement to acquire AdEPT Technology Group plc (AIM:ADT) from a group of seller and others for £50.3 million on February 8, 2023. The acquisition is intended to be implemented by means of as scheme of arrangement. Under the terms of the acquisition, each AdEPT shareholder will be entitled to receive 201 pence in cash for each AdEPT share. The acquisition will be fully funded through a combination of new debt and equity financing. The equity financing will be provided by MPRC Europe Limited, pursuant to an equity commitment letter and debt financing will be provided by funds controlled or managed by Ares Management Limited.
All AdEPT non-executive directors have agreed to resign as directors of AdEPT with effect from completion of the acquisition. Following completion of the acquisition, Wavenet intends to retain the best talent of AdEPT. Wavenet has received irrevocable undertakings or a letter of intent from the AdEPT Directors, certain of the AdEPT Directors' connected persons and AdEPT shareholders, in respect of a total of 14,160,989 AdEPT shares, representing, in aggregate, approximately 56.6% of the ordinary share capital of AdEPT. The AdEPT Directors unanimously recommend the scheme. The scheme is subject to AdEPT shareholders approval at the Court Meeting and General Meeting, needs to be sanctioned by the Court, also subject to the applicable requirements of the Takeover Code, the Panel, the London Stock Exchange, the FCA, the AIM rules and NS&I Act approval. The acquisition is currently expected to become effective in Spring 2023.
Peter Bell and Michael Shaw of Cardean Bell Ltd and Oliver Levy of MarchHarvey Ltd acted as financial advisor and Travers Smith LLP acted as legal advisor to Wavenet. James Craven, Tim Richardson and Declan O'Connor of Houlihan Lokey UK Limited and Shaun Dobson, Alaina Wong and Sandy Fraser of Singer Capital Markets Advisory LLP acted as financial advisor and Cripps LLP acted as legal advisor to AdEPT. Computershare Investor Services PLC acted as registrar of AdEPT. Reported Earnings • Nov 17
First half 2023 earnings released First half 2023 results: Revenue: UK£34.2m (flat on 1H 2022). Net loss: UK£248.0k (loss narrowed 76% from 1H 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Telecom industry in Europe. Price Target Changed • Nov 16
Price target decreased to UK£3.50 Down from UK£6.00, the current price target is provided by 1 analyst. New target price is 211% above last closing price of UK£1.13. Stock is down 47% over the past year. The company posted a net loss per share of UK£0.21 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Craig Wilson was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
AdEPT Technology Group plc Announces Interim Dividend in Respect of the Six Months Ended 30 September 2022, Payable on 7 April 2023 The board of AdEPT Technology Group plc announced a return to interim dividend payments, with an interim dividend of 2.50 pence per Ordinary Share in respect of the six months ended 30 September 2022. This represents an increase of 150% over the final dividend of 1.0 pence paid for the year ended 31 March 2022 and dividend cover of 4.8x. The interim dividend will absorb approximately £0.6 million of shareholders' funds (H1 FY22: £Nil). It is proposed that the dividend will be paid on 7 April 2023 to shareholders who are on the register of members on the record date of 10 March 2023. Announcement • Nov 10
AdEPT Technology Group plc to Report First Half, 2023 Results on Nov 15, 2022 AdEPT Technology Group plc announced that they will report first half, 2023 results on Nov 15, 2022 Announcement • Sep 20
AdEPT Technology Group plc Announces Interim Dividend for the Six Months Ended 30 September 2022 The Board of AdEPT Technology Group plc announced return to interim dividend payments, with an interim dividend of 2.50 pence per Ordinary Share in respect of the six months ended 30 September 2022. This represents an increase of 150% over the final dividend of 1 pence, proposed for the year ended 31 March 2022. Upcoming Dividend • Sep 08
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 15 September 2022. Payment date: 06 October 2022. Trailing yield: 0.8%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (4.5%). Announcement • Aug 18
AdEPT Technology Group plc, Annual General Meeting, Sep 20, 2022 AdEPT Technology Group plc, Annual General Meeting, Sep 20, 2022. Reported Earnings • Jul 13
Full year 2022 earnings released: UK£0.21 loss per share (vs UK£0.014 loss in FY 2021) Full year 2022 results: UK£0.21 loss per share (down from UK£0.014 loss in FY 2021). Revenue: UK£68.1m (up 18% from FY 2021). Net loss: UK£5.23m (loss widened UK£4.89m from FY 2021). Over the next year, revenue is forecast to grow 7.7%, compared to a 2.8% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • Jul 12
AdEPT Technology Group plc Proposes Final Dividend for the Year Ended March 31, 2022, Payable on 6 October 2022 On 6 July 2022 the directors of AdEPT Technology Group plc proposed a final dividend, subject to shareholder approval at the 2022 annual general meeting, of 1.0 pence per ordinary share (FY21: nil). Total dividends proposed in respect of the year ended 31 March 2022 will absorb £250,299 of shareholders' funds in future periods. Payable on 6 October 2022 to shareholders on the register on 16 September 2022 (ex-dividend date being 15 September 2022). Announcement • Jun 29
AdEPT Technology Group plc to Report Fiscal Year 2022 Results on Jul 12, 2022 AdEPT Technology Group plc announced that they will report fiscal year 2022 results on Jul 12, 2022 Price Target Changed • Apr 27
Price target decreased to UK£3.50 Down from UK£6.00, the current price target is provided by 1 analyst. New target price is 84% above last closing price of UK£1.90. Stock is down 37% over the past year. The company posted a net loss per share of UK£0.014 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non Executive Director Craig Wilson was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
AdEPT Technology Group plc Provides Revenue Guidance for the Financial Year Ended 31 March 2022 AdEPT Technology Group plc provided revenue guidance for the financial year ended 31 March 2022. The Group expects the Group revenue for the Period to be broadly in line with current market forecasts. Reported Earnings • Nov 18
First half 2022 earnings released: UK£0.041 loss per share (vs UK£0.012 loss in 1H 2021) The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2022 results: Revenue: UK£34.3m (up 20% from 1H 2021). Net loss: UK£1.04m (loss widened 244% from 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 08
Full year 2021 earnings released: UK£0.014 loss per share (vs UK£0.041 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: UK£57.9m (down 6.2% from FY 2020). Net loss: UK£340.0k (down 135% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Apr 08
AdEPT Technology Group plc Provides Revenue Guidance for the Full Year of Fiscal 2021 AdEPT Technology Group plc provided revenue guidance for the full year of fiscal 2021. The Group expects to close fiscal year 2021 in-line with current market forecasts for revenue set in February 2021, following the reintroduction of its financial guidance. Announcement • Mar 03
AdEPT Provides Update on Board Changes AdEPT provided a further update to the announcement on 10 February 2021 in relation to the planned re-appointment of Christopher Kingsman as a Non-Executive Director, to take effect on 1 March. By mutual consent, it was agreed not to proceed with the planned appointment. Announcement • Feb 10
Christopher Kingsman, to Rejoining AdEPT Technology Group plc's Board, Effective 1 March 2021 AdEPT Technology Group plc announced that Christopher Kingsman, former Non-Executive Director of AdEPT will be rejoining the Company's Board effective from 1 March 2021. Announcement • Jan 26
AdEPT Technology Group plc Supports Department for Education AdEPT Technology Group announced a milestone in its partnership with Google's G Suite for Education and Microsoft's Office 365 Education with over 500 schools now being set up with a digital education platform. AdEPT Technology Group is on course to win more business in the education sector as it continues its strategic partnership with Google for Education and Microsoft 365 for Education. Responding to significant market demand, the partnerships enable AdEPT to win incremental cloud business - helping the Group to further support the education market place which is expected to further grow to £96.5 billion in 2022/23. AdEPT Education is the expert enabler that provides schools and multi-academy trusts with digital educational platforms at scale that are funded by the DfE. Digital Educational Platforms comprise cloud applications and tools for the education sector. They are used by teachers, administrative staff and students - and are designed specifically to accelerate digital teaching and learning for schools. A typical DEP contains productivity software, such as those for word processing, spreadsheets and presentations - as well as email and calendar tools. These standard applications are bolstered with secure and safe software for education in addition to the virtual whiteboards; planning, assignment, marking and collaboration tools; and software to run lessons by live video as well as in-class lessons. Reported Earnings • Nov 19
First half 2021 earnings released: UK£0.012 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: UK£28.5m (down 7.6% from 1H 2020). Net loss: UK£301.0k (down 135% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 13
New 90-day low: UK£2.32 The company is down 4.0% from its price of UK£2.41 on 14 August 2020. The British market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 12% over the same period. Is New 90 Day High Low • Oct 19
New 90-day low: UK£2.34 The company is down 4.0% from its price of UK£2.45 on 21 July 2020. The British market is also down 4.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Telecom industry, which is down 6.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: UK£2.35 The company is down 5.0% from its price of UK£2.47 on 02 July 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is down 7.0% over the same period.