"Are there any substantial shareholders here above 5%? "That's a great question,
@YStrategy.
CXZ doesn't currently have a substantial shareholder (>5%), but I think with the GM renewal in place, the stage is now set for a new institutional investor(s) to become interested.
The institutional investors that I spoke to in early 2021 / late 2020, were very interested in CXZ as a potential investment, due to the clean balance sheet, growing industry, market share, and valuable product, but were looking for a few more boxes to be checked, one of which was the GM renewal. Another requested box that was also ticked was to bring in more expertise via the board. In addition, by signing a Head of Sales in the US, CXZ is signaling its intent for growth. All of these achievements will have heightened interest from the institutional investor community and importantly, given the company's CF+ nature, any new investor is required to buy on-market to get a foothold, rather than walk in through the back door via a raise.
The Top 20 in CXZ as of May 2021 collectively own 226m shares (25.6%). This has risen from 221m shares (25.2%) in Feb 2021 and is up from 204m shares (23.2%) in Dec 2020. The Top 20 is gradually strengthening/accumulating.
Moreover, the number 1 shareholder (I'm not allowed to disclose the name of the entity here, but it will be shared in the next annual report), continues to accumulate on market and now has a 3.8% stake in the company (33.8 million shares). This is up from 25 million shares in Feb 2021 (2.85%) and up from 8 million shares (0.9%) as of December 2020. In other words, the new #1 shareholder has quietly accumulated over 26 million shares in CXZ since Dec last year.Since the GM-renewal announcement, all of the 1.5c offers and now the 1.6c offers have been swept up. The Chi-X exchange price is now sitting at 1.7 cents. We are seeing the share price creep higher in a very gradual manner.
T.E.P.
@LD99,
@morganp,
@whitepages127,
@TripleTop,
@lordearl,
@CatalystDriven,
@noomxx -- Messy history behind them but now looking like a very asymmetric play. Circa $14m market cap, telematics industry, profitable, blue-chip client (General Motors) re-signed for another 5 years, growing team, ~$3m cash in hand, no debt... Worth watching.
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