SPZ - On Market Share Buy Back activity is occurring

SPZ have been active in their on-market buy back, but really are yet to scratch the surface of their proposed $5m buy back funds.

Still up to $4.6m available to buy back and over 11 months to run

SPZ - pre-release comms on new Tessera app / platform

2021-03-23

SPZ have circulated an early heads up of their new platform named Tessera, aimed at not just streamlining the back end processes of Car Park management  for local Councils, but also the new platform lays the foundations to be expanded into other services offerred by the municipality

The overview video is here

It does seem like a sensible idea to leverage the already in place relationships with respects to Car Parking and simulate those efficiences and processes over into the other services of the already customer base.

SPZ - some interesting reading

As well as today (11th of March 2021) signifying the commencement period of the $5m on-market share buy-back as per the announcment here,  I also came across another little piece of what I feel is supporting info for this stock.

Just recenlty I've been trialling various market screener / filter products and one I was using has the functionality to bring together both ASX announcments and media articles.

So when I stumbled across this recent Motley Fool write up there was a couple of snippets in there that I took as support for the stock looking forwards.

Not just the article itself, but rather when scrolling through to the end of it to read the Disclosure policy statement that Motley Fool abides by, for Smart Parking both the author of the article and the company Motley Fool Holdings Inc themselves have declared an interest in the stock as at 25th of Feb.

I couldn't help but take that to be confirmation that 'smart money' has also come across this opportunity.

So interesting indeed and I have chalk it up as a tick in the box that "there are others at the party too", a thought process / test that I picked up from Ausbiz in the last week or so.

SPZ - quite a history of Directors buying on-market

With the company reported as having a Top 20 holding 73%, there is a multi-year trend of Directors buying on-market.

Especially interesting around September 2020 when 2 x 1m parcels were bought at only 10cents / share yet in 2018 and 2019 purchases were made at or around today's prices.

Taking this on board in conjunction with the on-market Share Buy-Back announcment and around 25% of the shares held outside of the top 20, this IMO is another sign for share price support.

SPZ - New Substantial Holder triggers 5% holding with $116K top up

Recenlty announced new (or possibly returning) susbtantial holder Microequities Asset management Pty Ltd provided details that they became a substantial holder the day following the Hal Yearly report.

since Novemeber 2020, they have:

• bought a total of $116K additional shares
• increased their holding by 743,897 shares
• avg price of 15.68 cents per share

this brings their total holding to 5.16% and 184,541,598 shares

this holding is an estimate value around $31m on today's close price 3rd Mar 2021

SPZ - $5m Buy Back on-market announced

on the 25 Feb 2021 the company announced up to a $5m on-market share buy back to commence from 11th of March

On top of this being a pandemic re-opening trade, I feel this underpins the share price going forward as well, especially given that the share price is still below the post-March highs (just) and is well below the pre-covid trading range.

plus today there was an additional announcement regarding the Dispute Settlement to the tune of a one off $1.6m payment

share price seems to have been warming to the re-open since August 2020 as a short term view