# OKN - Oakton Limited



## Knobby22 (18 December 2008)

Haven't bought anything for awhile but am feeling that the pricing is getting into the "zone"

The first one to trip for me was Oakton, a software consultancy company with a good growth history that pays good dividends. Debt is not too great and even if profits have, which the company said won't occur, it still looks good value.


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## ndpjai (18 December 2008)

Knobby22 said:


> Haven't bought anything for awhile but am feeling that the pricing is getting into the "zone"
> 
> The first one to trip for me was Oakton, a software consultancy company with a good growth history that pays good dividends. Debt is not too great and even if profits have, which the company said won't occur, it still looks good value.




I used to trade this at close to $3 prices. Not now.

It's a good growth company, but the uncertainty over IT expenditure next year makes this stock vulnerable, not sure whether they will pay same dividend last year. 

But just close to $1 is a good entry. This is my personal comment. Thanks.


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## prawn_86 (18 December 2008)

ndpjai said:


> But just close to $1 is a good entry. This is my personal comment. Thanks.




Please provide reasoning as to why you think $1 is a good entry price. Otherwise the post will be considered as ramping and be removed


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## lucifuge (27 March 2009)

OKN up around 20% today. News released today that the CEO upped his shares. ummm  so what? Fair enough if other companies have buy-in, which would reflect external confidence but why would share price rise on such an announcement.  Seems crazy to me.


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## McCoy Pauley (18 February 2010)

Anyone follow Oakton?

I've added OKN to my watchlist after it was sold off following its 1H10 report earlier this week.

About to begin my research on the company and would appreciate any views ASFers might have about the company.


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## Julia (18 February 2010)

I held this from June 09 to Dec 09, nice uptrend at the time.

Also from Sept 06 to Jan 08.

Agree it's worth watching for another good uptrend.

You need to get a decent capital gain as the dividend is next to worthless.


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## Miner (18 February 2010)

I held it based on the fact that this was included in the portfolio of Alan Kohler himself as reported in newsletter some year back. But now I do not hold it.
The technicality of the scrip was very good but share market performance was not directly proportional to its intrinsic value so I quit.


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## condog (18 February 2010)

I used to own it and sold it in late 09 on bad outlook, by CEO

I still hold SMX and DTL its main competitiors and both are performing much better IMO.
DYOR SEAdvice


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## McCoy Pauley (18 February 2010)

Thanks all.

Condog - yeah, SMX is also on my watchlist.  SMX seems to be doing a lot better than OKN at the moment.


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## McCoy Pauley (23 February 2010)

Four entities in the Blackrock Investment Management group of companies have taken a substantial holding in OKN from 18/2/10, with buying starting from October 2009.  Not sure what it means just yet but an intriguing development, I think.


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## robusta (10 November 2011)

These guys are stating to interest me. The bounced a little off yesterdays 52 week low, have little debt and a satisfactory ROE - nice dividend yield as well.

I would like to investigate why the ROE has been declining in recent years however.

AMP does seem to be selling for what it is worth.

DWS is also on my radar - again.


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## VSntchr (10 November 2011)

Be sure to report back with your findings, ill be reading 

Im not sure if I recall exactly, but I think OKN lost a contract/customer or something similar recently (6 months or so ago)?


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## robusta (10 November 2011)

VSntchr said:


> Be sure to report back with your findings, ill be reading
> 
> Im not sure if I recall exactly, but I think OKN lost a contract/customer or something similar recently (6 months or so ago)?




They have had a legal dispute that has been settled recently in Oaktons favour.

The short answer on the decline in ROE is in the main due to a restructure of the OKN business. They seem to be aiming for the lowest cost competitor position through offshore staff in India.

OKN has also had performance issues in their Victorian operations.

I normally take the forecast earnings on Comsec with a large boulder of salt... but it will be interesting if the strategies and investments taken by OKN pay off.

There is a lot of competition in this sector, SMX, DTL and DWS to name a few it is difficult for me to determine in any of the above have a competitive advantage.


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## Knobby22 (10 November 2011)

Yes, Robusta. Bought some today.

The Victorian problem meant they had to sack the manager and get serious. I really think we are near the nadir now. With some half reasonable Victorian management and the advantaage of the Indian operation, the eps and dividends should increase. Of course, by how much depends on a lot of internal and external factors.


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## skc (11 November 2011)

robusta said:


> There is a lot of competition in this sector, SMX, DTL and DWS to name a few it is difficult for me to determine in any of the above have a competitive advantage.




Plenty of peers for OKN. SMX, DWS, DTL like you mentioned. Also UXC, TNE, ASZ and HSN are in similar veins.

SMX, DTL and TNE are proven performers over the last 10 years.


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## McLovin (11 November 2011)

I find it difficult to seperate these companies, they all have fairly similar metrics and seem to offer almost identical service, although they will all have differences at the margin. I wonder how virtualisation will affect a company like DTL who is so dependant on software sales.


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## robusta (12 November 2011)

skc said:


> Plenty of peers for OKN. SMX, DWS, DTL like you mentioned. Also UXC, TNE, ASZ and HSN are in similar veins.
> 
> SMX, DTL and TNE are proven performers over the last 10 years.




Yes a lot of 'quality' in the above companies. I would like to buy something in this sector but am still trying to work out the most likely winner in the next 10 years. It would not surprise me to see some consolidation among these guys to buy market share.


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## Sergio (15 February 2012)

seems price is quite volatile atm and now bearish to 1.070... hmmmpff..


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## skc (15 February 2012)

Dodged one here. The big volume bar on 9 Feb suggested that some overhang was removed followed by a big up day with barely any resistance. That long candle finished close to the high and breaks the long term down trend.

I was going to buy on a retrace but noted that the report is due anytime and would rather pay a few more cents on the release of the report... which the market clearly didn't like.

Fundamentally revenue going backwards is never good, neither is staff number falling 10%. The usual. EPS was 7.3c and 75% payout as dividend at 5.5c. Even if H2 continue to fall by say 7%, full year EPS ~14c and dividend of ~10.5c. This means a PE ~7.6 and yield of 10%, fully franked no less.

The current share price is probably price they will struggle to maintain current market share. Those with specific IT consulting industry knowledge can attempt to prove the market wrong.


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## robusta (20 March 2012)

Share buy back announced today, up to 10% of issued capital, at these prices buy bach should add shareholder value IMO.


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## Baelish (23 March 2012)

I'm not understanding the current gloomy market pricing of Oakton. Are they getting whupped by their rivals? Is there no room for growth because dividend levels have been set in too high? Assets are up, liabilities are down. The profit seems to be down by 11 per cent but the share price is down almost 60 per cent.

Is Mr Market just being a bit crazy or am I missing something here?


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## ROE (23 March 2012)

IT service market is highly competitive and the workers aren't cheap.

Good IT folks cost much much more than average pay and if you employ a bunch of these
guys and you don't have work for them it will cost you a fair bit of money.

You also need scale in this area of work, that way you can move people around if
you lose a contract here and gain a contract there, being small you don't have a lot of room
to move if you lose a contract here and there...


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## robusta (23 March 2012)

OKN is not the highest quality company in this sector but I like the strategy with the Indian facility. 
This should negate the wage pressures to some extent.

At the end of the day they have to win contracts and do the job however.


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## ROE (24 March 2012)

They are too late to the Indian trend, if the did it 10 years ago yes but now there won't be much saving and the hassle, they will find out soon enough 

And IT outsourcing lose it appear a few years ago....

Not saying it a bad business but macro factor doesnt stack well for small players in this area


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## robusta (24 March 2012)

I guess those macro factors are why this sector and OKN in particular appear cheap on most metrics. 
Makes me want to look for other businesses in this space.


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## robusta (5 April 2012)

Don't often wonder about daily share price movements but  OKN up over 5% today.


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## robusta (10 April 2012)

Was that it? AMP today announced they increased holdings, I thought for a minute a takeover was on the cards.
Anyhow I would have preferred the price stayed around $1.20 at least until the buyback is complete.


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## Knobby22 (11 April 2012)

Its got everyone's interest now.

I bought some a few weeks ago but my order didn't fill. 
I expect we will get a bit of a pullback and maybe a second chance.


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## Baelish (30 April 2012)

I'm looking to purchase some more OKN shares at the moment and ride it out in the long-term 'til the share price reaches a point I am satisfied in selling.

Would ordinarily be buying straight away, but I'm trying to educate myself a bit further on company fundamentals to get an inherent value (Roger Montgomery's book) before I get in.

Given that Montgomery and associates rated Oakton as an A3 investment in August 2011, and we've had a buyback and AMP increasing their stake, are you confident that OKN will get back to the realm of $2+ within a year, if business continues as normal?


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## Knobby22 (30 April 2012)

Have to be careful here.

I think the business is underpriced because they had issues with the Melbourne office and teething issues with setting up the Asia site. I therfore think the price is justified to be more than it is now and $2 sounds reasonable.
On the bad side, IT labour prices are dropping as Indians are being used to do some of th work. Lower prices means even at greater margins, lower profits as a % of work. So I don't think they will hit their former highs.


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## beatthemarket (4 July 2012)

they just bought 1m shares yesterday in their buyback... good support for the shareprice and confirmation of a strong cash position.  75% dividend payout ratio provided in the guidance is also a good indication of their cash position...


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## robusta (5 July 2012)

beatthemarket said:


> they just bought 1m shares yesterday in their buyback... good support for the shareprice and confirmation of a strong cash position.  75% dividend payout ratio provided in the guidance is also a good indication of their cash position...




I just wish they would buy back more and faster at these prices.

Interesting little thing on the buy back announcement, highest price paid to date $1.22, highest price allowed under rule 7.33: $1.1077


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## skc (5 July 2012)

robusta said:


> I just wish they would buy back more and faster at these prices.
> 
> Interesting little thing on the buy back announcement, highest price paid to date $1.22, highest price allowed under rule 7.33: $1.1077




$1.22 refers to all the stocks bought back. Highest price allowed under 7.33 is a moving target.



> L/R 7.33 "A company may only buy back shares under an on-market buy-back
> at a price which is not more than 5% above the average of the market price for
> securities in that class. The average is calculated over the last 5 days on
> which sales in the shares were recorded before the day on which the purchase
> under the buy-back was made."




http://www.companysecretary.com.au/board_briefings/OnMarketShare.pdf


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## robusta (5 July 2012)

skc said:


> $1.22 refers to all the stocks bought back. Highest price allowed under 7.33 is a moving target.
> 
> 
> 
> http://www.companysecretary.com.au/board_briefings/OnMarketShare.pdf




Thank you skc I did not know that.


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## RottenValue (5 July 2012)

The reason the price is "cheap" is that the EPS now is about a 1/3 of what it was in 2008, in fact the forecast EPS for 2012 is 11 cents which is the same as it was back in 2005.

To get a SP of $2, you will need a P/E of about 20 for a company that has shown no real growth in EPS in 7 years.  Not saying it wont happen but I wouldn't be looking at fundamentals on this one.


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## Vader (6 July 2012)

RottenValue said:


> The reason the price is "cheap" is that the EPS now is about a 1/3 of what it was in 2008, in fact the forecast EPS for 2012 is 11 cents which is the same as it was back in 2005.
> 
> To get a SP of $2, you will need a P/E of about 20 for a company that has shown no real growth in EPS in 7 years.  Not saying it wont happen but I wouldn't be looking at fundamentals on this one.




First up, I work for OKN and have recently bought shares... so no doubt I have a slightly rose coloured view of the world, so DYOR 

Not sure where you get EPS of 11c for FY12, the reported first half results were 7c and the earnings guidance released recently said that 2nd half was expected to be about the same, so FY12 earnings is expected to be about 14c per share... it's also worth noting, that the first half figure included a one off payment of approx 2c per share from the result of ending legal action that had been going for a couple of years... so the earnings from regular business has improved from 5c in the first half, to about 7c in the 2nd half (which is consistent with my observations on the ground - first half was very flat, utilisation rate was very low across most locations, but 2nd half has been very good - so don't expect that rate of growth to continue, there are some abnormalities in there... all things being equal I would estimate FY13 earnings to be 13-14c at this point).

So a little info on what's been happening in the last 4 or so years...

Coming up to the GFC, Oakton was well and truly in growth mode - they took over Acumen Alliance in 2006 that effectively became an instant Canberra office, giving us exposure to the Federal Government. The hiring policy was very aggressive - it was hire in advance, so if they found someone with a good skill set that we were a little thin in, they would hire right away and then try and find a project to place them in.

When the GFC hit, things obviously changed. There was quite a bit of debt on the books still from the Acumen takeover, so priority one was to repay that debt - that meant suspending dividends and putting all earnings into paying off the debt (which was achieved a couple of years ago - dividends have now been reinstated). The hiring policy also changed to hire when needed, i.e. when a project needed a skill set we didn't have, only then would they look to hire.

We are slowly starting to see some signs of growth again - we are still hiring as needed, but one reason the first half results were impacted was that even when the market was flat (and it was very flat), they held on to just about everyone - so each location would have had plenty of people sitting on the bench, getting paid, but earning no money... that decision obviously helped the 2nd half results where most of those people have been flat out on client projects. There is also the possibility of expanding into the Perth market - with a couple of projects starting there this year and the possibility of expanding that further.

Also during the past couple of years OKN has had a branding refresh and has replaced many of their core systems... so that time of pulling back and refocusing has been used quite well and I believe we are well placed to move forward from this point.

...so, fundamentally - going on an EPS of say 13c which should be a reasonably conservative estimate for the next two years (if we can get a few more projects off the ground in Perth and establish a small office over there and the market stays about the level during the 2nd half of FY12, then it could easily be higher than that), then a P/E of 10 - 12, gives a range of $1.30-$1.56, which is what my target range is for the next 12 months, and that should also include a dividend of about 10c per year... so yeah, I think the price does look very cheap at this point (and the buyers have started to show up now too).

Should be an interesting 12 months for OKN I reckon.


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## robusta (6 July 2012)

Thank you for that perspective Vader, I have been considering my OKN holding for a while now the business seems to be at a crossroads, they have restructured operations just waiting for the results to come.

The strategic focus on employee engagement makes me think there have been problems in this area in the past probably as a result of the hiring policy you alluded to. My fear was that OKN would be left with subpar talent and utilisation of employees.

I continue to hold with a view to buying more.


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## Baelish (17 July 2012)

Really appreciate the insight Vader. Don't hesitate to give us any more updates about the direction of the group.
I appreciate that it's not a good time for new government IT contracts in Victoria and the share price probably reflects this.

I'll be holding my stake for the long-term.


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## robusta (14 August 2012)

Results out today;

Revenue down 7%
NPAT down 10%
EPS down 10%
No Debt, a bit over $9 mil in cash.

The market seemed to like this!! Probably because the H2 FY2012 up 27% on the pcp. looks like the strategy may be gaining some traction. 

Will hold and look toward the interim report in six months time, there may be some growth in this baby and a nice yield as well.


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## Vader (15 August 2012)

robusta said:


> Results out today;
> 
> Revenue down 7%
> NPAT down 10%
> ...




Yeah, the EPS was a bit lower than I thought it might be given what was previously reported etc. but the BIG improvement is in the statement of cashflows... gone from a position of 4.5m net debt a year ago to a position now of no debt and 9m cash on hand... receipts from customers up, payments to suppliers and employees down Indian office starting to show an increase in margins).

...add to that an increase in dividend.

...the only bit I don't really understand is why receipts from customers are up, employee costs are down - yet revenues from customers is down on the previous year (my financial statement forensics aren't good enough obviously).

Anyway, balance sheet is looking very healthy at the moment which is the main reason for the positive reaction I think - still showing a very nice dividend yield too, ex-dividend date is 27th August, will see what happens once that date passes.


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## skc (15 August 2012)

Vader said:


> ...the only bit I don't really understand is why receipts from customers are up, employee costs are down - yet revenues from customers is down on the previous year (my financial statement forensics aren't good enough obviously).




It's all a matter of timing.

Revenue is accrual accounted - i.e. recorded at the time the work is done. While customer receipts are actual cash being paid to the company. A company may have done a lot of work before 30 June 2011 (hence booking the revenue), yet the customer didn't pay the bill until 1 July 2011. That payment will be recorded in customer receipts for FY12 without corresponding revenue or employee costs.


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## Vader (15 August 2012)

skc said:


> It's all a matter of timing.
> 
> Revenue is accrual accounted - i.e. recorded at the time the work is done. While customer receipts are actual cash being paid to the company. A company may have done a lot of work before 30 June 2011 (hence booking the revenue), yet the customer didn't pay the bill until 1 July 2011. That payment will be recorded in customer receipts for FY12 without corresponding revenue or employee costs.




Thanks skc... makes sense as the last two months to end the financial year were the strongest two months of the year (compared to the same time last FY which was very quiet)... and the presentation also pointed out that the 'days debtor' increased to 55days this year from 52days last year which wouldn't help timing wise either.

(btw, just to be clear - while the last couple of months of FY12 were (from what I understand) very strong, that was an above average period, very high utilisation etc. and not a rate I would expect to continue unchecked)


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## robusta (21 November 2012)

Guidance updated today at the AGM seems the incumbents in Canberra have stopped spending money, I expect this will be temporary, next year is a election year....

The rest of the business seems to be travelling OK considering the state of the economy.


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## ROE (21 November 2012)

robusta said:


> Guidance updated today at the AGM seems the incumbents in Canberra have stopped spending money, I expect this will be temporary, next year is a election year....
> 
> The rest of the business seems to be travelling OK considering the state of the economy.




No this is the trend reversing, out-sourcing under Lib, in-sourcing under labor, they hire their own staffs or contractors ...much cheaper...

they are out of cash so IT is an easy target for saving


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## Smurf1976 (21 November 2012)

Not a specific comment on the company, but I've heard quite a few stories from the inside which back up the "outsourcing is dead" notion.

The new trend seems to be that of identifying work which is of a regular, ongoing nature then bringing the skills and physical resources in house. Governments are certainly leaning that way and I know that energy company AGL has done something similar too and for the same underlying reasons. Outsourcing rarely works out cheaper in the long run unless it's intermittent or on-off work.

We're not at the point of reinstating the PWD (Public Works Dept) yet, but the trend does seem to have turned. As a taxpayer I'd say thank heavens someone's woken up although shareholders of contracting companies would obviously have a different viewpoint.


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## robusta (21 November 2012)

Ok I take your point with someone like AGL but governments doing something cheaper in house???? I will have to think about that one, normally the opposite argument is put forward when they want to privatise something.


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## RottenValue (22 November 2012)

No idea why "outsourcing" and Oakton are being used in the same sentence given the very small amount of outsourcing they actually do.

The key problem with Oakton will be revealed if you look back over the announcements made over the period since the GFC.  Always excuses why things are not as good as they should be but bottom line is that they peaked back in 2007 / 2008 before the ill fated Acumen acquisition to gain a foothold in Canberra.

And as far as Government "insourcing" or Utilities companies for that matter - let me say that I am not seeing it and my company does plenty of work in this space.


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## Vader (25 November 2012)

Personally I don't think there is too much wrong at this stage... they aren't exactly starting to rocket away, and yes there are a number of excuses popping up here and there, but when you compare it to other competitors, OKN are in pretty good shape really (certainly fairing a heck of a lot better than SMX!).

I can't comment much on the situation in the ACT (I work in a different location and don't have much visibility at all there), but as an employee and a shareholder (well, temporarily sold off last week*), I'm reasonably happy with how things are tracking.

...However, I'm not expecting any big upswing for at least a few months though as it's almost impossible to get a read on things over Dec/Jan as historically things are pretty slow in terms of new projects starting up in most sectors during that period.

*I sold off my remaining shares last week ($1.22) after the announcement that the slow down of ACT office was having an effect on overall earnings (not sure if I acted a bit hasty or not). I do intend to buy some more though, probably about late January as I can't see them spiking on anything before then... kind of hoping that things will get silly and they'll dip below $1, lol). Adjusting for the recent announcement though, I still have a target price of about $1.20 - $1.40 over the next 12 months, so I'm expecting it'll probably hover around it's current price for a little while at least.


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## Knobby22 (26 November 2012)

i did the same Vader.
Reduced my holding and have a buy order at a lower price. if it gets to $1 I will be surprised however you never know. i went to the AGM and there weren't many there. It is off the radar.


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## Julia (27 February 2013)

Vader and Knobby:  do either of you still have OKN?
I note a healthy, fully franked yield and the chart was OK until 19 Feb.  What happened then?
Looks like a tentative recovery since then.  Pretty low volumes.


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## Vader (27 February 2013)

Julia said:


> Vader and Knobby:  do either of you still have OKN?
> I note a healthy, fully franked yield and the chart was OK until 19 Feb.  What happened then?
> Looks like a tentative recovery since then.  Pretty low volumes.




I don't hold any at the moment - the half year results were pretty disappointing I thought (that was what happened 19th-Feb) and I'm a little surprised about how well the share price has held up (will see if it stays that way once the ex-div date arrives). 

On the plus side, the results from the Vic office showed some nice improvement and definitely appears to have turned around nicely. ACT is going to continue to have a hard time until after the Fed election, so that remains a worry. The NSW result was a bit worse than I was expecting to see (didn't realise their numbers had dropped that much), so that's probably the key to the next period. Everywhere else is performing well and the Indian office places the company in a good spot if the conservative governments and price conscious private sector around the country start to look for that lower price point from consultancies that can blend some onshore/offshore capability.

The balance sheet is still very strong though and that probably remains the biggest plus.

Nothing wrong with holding for the long term, banking the dividends and waiting for things to pick up again IMO... results may fluctuate a bit in the next year or two, but overall when the economy picks up, business should ramp up quite quickly. I'm still looking to buy back in at some point, but I'm waiting for the price to drop back down a bit first


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## Julia (27 February 2013)

Vader, your detailed comments are much appreciated.  Thank you.
I'm just going through looking at stocks which have done pretty well for me in the now distant past, OKN amongst them.


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## Knobby22 (28 February 2013)

I hold and bought more a few months ago.
I went to the AGM in October and feel this company has a lot of upside.

It is Canberra and Queensland governments that have stopped investment in IT hurting this company.

Queensland is now getting back on track.

The present Federal government is trying to look good for the election by reducing the debt and IT is an easy way to do it. They will need to spend however and that will probably start to improve after June 30 and further improve 6 months after the election. 

Their offshoring of programming and agressive expansion into WA appears to be working.


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## Julia (28 February 2013)

Thanks, Knobby.  Appreciated.


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## RottenValue (28 February 2013)

It may be useful to read the last 5 annual reports - the excuse of lack of Government Spending has been used many times.  Otherwise, issues with Tenix, issues with Victoria, and so on.

Company made a bad acquisition to get into Canberra just before the GFC, timing was unfortunate but no synergy between the two groups.

Basically a steady down hill slide ever since.  Plenty of better uses for your money than this one


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## Knobby22 (28 February 2013)

They took over a company in Victoria and ended up having to sack the manager but that has turned around.
They won the Tenix lawsuit and got paid out.
The Canberra issue is real and caused by the Feds cutting funding.

Business is never smooth in consulting but I believe they will get a massive turnaround in a about a years time.

We shall see who is right.


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## ROE (28 February 2013)

Knobby22 said:


> They took over a company in Victoria and ended up having to sack the manager but that has turned around.
> They won the Tenix lawsuit and got paid out.
> The Canberra issue is real and caused by the Feds cutting funding.
> 
> ...




The are not the only player in town in Canberra, there are dozen of players all very competitive...all fighting for
the same pie with less money and less jobs for them to compete....

I dont think the IT spending cut is coming back, it's on a down trend ...

the last good time was when Liberal was in power and the coffer is full of cash from mining and business boom
so to fix any issue they blame it on IT system and throw money at them...

we are now out of money, mining slowing down and the tax receipt getting smaller by the month...

Obviously you wont see IT tape turn off but the the sort of money you see in the past will never return
until the next boom arrive, Australia is debt free and full of cash...

They came to the Canberra party just as the music stop but they keep thinking to themselves maybe it will play again soon...a year later no music but they again said soon and on and on


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## Vader (1 March 2013)

There wasn't any company taken over in Vic... Vic is the head office and largest of the locations - it had a bit of a downturn around all the Tenix stuff going on, that manager left, one of the original management team went in and has turned its results around over the past couple of years.

The ACT business was purchased in 2006, and apart from some wobbles in the last year or two has been (and still is) a significant contributor to the bottom line.

It's only been in the last 12-24 months where the company has paid off all debt (a result of the takeover in 2006) and is in a net cash position and buying back shares.

I think it's pretty fair to say the next 12 months or so are still looking a bit unstable, but compared to competitors in this sector I think the results and balance sheet are pretty good and better than most.


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## Muschu (1 August 2013)

Not holding but doing well today on the back of an announcement.


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## piggybank (2 October 2013)




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## Muschu (2 October 2013)

piggybank said:


> View attachment 54665




Thanks... I do hold now but do not understand your chart.....


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## piggybank (2 October 2013)

Muschu said:


> Thanks... I do hold now but do not understand your chart.....




It's known as a Point & Figure Chart - Google it and you will find plenty of examples


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## Country Lad (2 October 2013)

Muschu said:


> Thanks... I do hold now but do not understand your chart.....




rick, P&F charts essentially takes the time out of the charts and considers only rises and falls of a predetermined magnitude (6 cents in the case of the chart below) allowing us to look for patterns and trends.  You will find a few topics about them if you do a search. The two OKN charts below are for the same time frame.

Cheers
Country Lad


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## tinhat (2 October 2013)

Hot dog. This company has been on my watch list. Nice to see a breakout.


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## McCoy Pauley (12 August 2014)

Announced to market this morning that Oakton has received an offer from Dimension Data to enter into a scheme implementation agreement for Oakton with Dimension Data offering $1.90/share.  The offer was recommended to shareholders unanimously by the board.  Price shot up to $1.88/share the last time I checked (this morning).

I don't hold, so DYOR.


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## System (27 November 2014)

On November 26th, 2014, Oakton Limited (OKN) was removed from the ASX's official list following the acquisition of the Company by Dimension Data Australia Pty Ltd.


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