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We’ll see what happens during the rest of this week. There were a few trades yesterday which looked like more accumulation. The MC is tiny now. Despite the curveball RNS I still think we’re undervalued
Yes, Lawrmyer2. Wish other "big boys" would do the same. MC needs to >£3m to make me confident again.
Interesting to see that Armstrong has increased their holdings
Would not surprise me!
I sold half last week. Have I been shafted, guess I’ll find out in due course
Bet we get a delayed TR1, and i bet it's Trevor's bookshop company. £50K in 3 buys last week at knockdown price
Liabilities are in the reports.
There was a hefty overdraft, that could be called at any time.
There are also lease liabities with interest rates of c.3.5 to 9.4%, but I'm not sure those would could as debt.
The problem is they're a bunch of C U next Tuesdays.
Nothing is straight forward, all subjective ir seems.
Anyone in striking distance of the factory in Walsall? Might be worth having a look, chat to the lads heading in to work...
In the 9th Jan RNS it says,
"...and in September 2023, the Company agreed a Time To Pay arrangement with HMRC in relation to PAYE arrears of £1.7 million over the following 12 months, which are expected to be paid in full in September 2024"
But in this week's trading update it says,
As previously announced, balance sheet debt following the sale of Petrel Ltd has greatly improved and the Company remains focused on paying off the remainder of its legacy debt within the next 12-month period (excluding the remaining pension deficit and HSBC invoice finance facility)
What does 'remainder of its legacy debt within the NEXT 12-MONTH PERIOD' mean ? Won't they have cleared the HMRC debt by Sep this year? 9th Jan was roughly half-way through Q3 2024.
that 2m was what was shaken out of pis yesterday. i hope it is w black buying and not fab. tb's voting power needs to decrease, they have taken the **** with this.
I suspect the chap William Black having increased is holding recently is the likely buyer here.
But where is the stock coming from?
Most of the institutional holders are fairly passive, apart from Miton who has adjusted up and down along the way.
Two individual 1 million purchases yesterday and today.... Who is adding 30k to this?!
Still invested unfortunately but was hoping to be proved wrong this time regarding Mr Brown, as people have also made significant profits and losses in the past....
I think you're absolutely right.
It's felt off for some time.
Buy 29% and get the rest for a song when....... ( fill in the blanks).
Lets not be under any illusion that Trevor Brown is running this regardless of what title he choses. He is hands on and has a track record that proves that he is absolutely no fool and is very astute when it comes to printing money. He will be in control of every move and he continues to buy more and more shares either himself or through vehicles that are connected to him including recently. Institutional investors are continuing to buy these shares and increase their existing holdings. Again these people do this for a living and will be given access to inside info rather than the heavily edited headlines that we get. The big holders of CMH do not appear to be selling and are often buying more.
Why is he doing this ? The board ( Trevor ) seems to be on a mission to drive down the market capitalisation of this business by whatever means possible and today it stands just over £2m. Furthermore he is using every means possible to pay off existing legacy debts rather than investing in improvements or expansion or even decent sales people.
For me something dont fit and it seems there is a definite agenda at play behind the scenes here. I am reliably told that the Foundries are not as quiet as the RNS makes out and its business as usual on both sites with little sign of cuts to staffing levels except at board level where its long overdue.
It would not surprise me to see this taken out or broken up with either a management or external buyout or Trevor Brown making an offer for the remaining shares that him or his mates do not already own. The only thing I can be sure of is that we will be the last to hear about it.
I was led to believe the company was positively being turned around by management as outlined in interim results of 21 Feb., 2024.
I foolishly did not hear the alarm bells ringing with the announcement of Board changes on 5/4/2024.
More worrying now is: will some customers cancel their orders due to threatening price increases? Dire!
Time for the “big boys” to step-up to buy some shares and redeem a bit of trust for long suffering shareholders.
Lying Kevin Price, Chief Executive Officer of Chamberlin, commented: "I am pleased to report that operational performance in the first half of the financial year has been broadly in line with the Board's expectations. The current order books across all three trading divisions are strong and will support performance in the second half of the financial year. Therefore, the Board believes the Group remains on track to meet market expectations for the year ending 31 May 2024."
That was last trading update in January, and the one on December 3rd has similar bumf.....Lying CMH
Been a disaster, au revoir.
Pained me to do it, but sold half at a significant loss this morning. That RNS has really ###### me off! Left half in on the off chance this recovers!
About the story the investors in the placing only as far back as January were told. I am assuming it was the positive "everything's profitable, rising revenues" story rather than the s***show that is this mornings RNS?
How much more cost cutting can they do?
Even the way that RNS was written was unprofessional. Negative, positive, repeat negatives and add a little more negatives.
Kevin Price - cat in the headlights.
Not a great surprise, this business has been loss making for years, with cumulative losses of £10m+ even before we got on to this year being reported. It would have died back in 2021 when on brink of insolvency until TB put in money to give it a stay of execution. But for all his financial engineering he clearly forgot to check if they'd put up prices.
I'm certain there would have been a very good investment case for a UK based iron foundry during the Industrial Revolution. Now not so much.
Free Association Books bought in the middle of Jan, so right in the midst of the slowdown of orders. Why would they do that?
What I don’t understand is why They IIs have been buying? And, why an II connected to TB has bought? He knows the financial situation inside and out
Devastated! Very poor management, cannot be trusted. Angry is an understatement.
absolute ****show.
the last few rnss have been very positive and now, out of the blue, we get this utter ****e!