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Started: Skindle, 1 Aug 2019 09:16
Last post: columbo, 2 Aug 2019 11:36
Still trying to find the name change on Lse.
Shiny new name. No mention of a strategic review of Findel Education.
Started: Skindle, 30 Jul 2019 10:32
Last post: Skindle, 30 Jul 2019 18:14
Yes I too smiled when I read that acronym. The vomit in the fire place incident is alleged to have happened during a drinking contest with that city worker Blue.
Unfortunately I can’t see Mr Ashley selling his stake in Findel because it is the only investment that he has made in the last five years that has proved to be a success, no thanks to his input of course. We are stuck with the man I’m afraid so let’s hope our board can turn this into a positive. Announcing the sale of Findel Education would be a good move.
Totally agree Skindle, there is no logic to our current share price.
As things stand, SPD is in a mess and anyone that can make out an investment case for them, is either the bravest of the brave or needs plain deluded. I just can't see how the Belgians wouldn't have flagged the VAT issue up in some way given the sheer size of the numbers. As for MA just dismissing it and not making any allowance for it in the accounts, beggars belief. No wonder Grant Thornton are being reported as about to resign, as even for them, the company has become too toxic. There are more flags on this company than can be seen in Tiananmen Square on Chinese National Day!
In the meantime, we can only stand by and watch this corporate soap opera unfold and trust that we don't get caught up in it all too much. Going short in shares isn't my thing but surely this must be the most shorted listed companies at the moment.
In a more light hearted moment, was I the only one chuckling to myself when MA stated his legal advisor in Belgium was called 'Laga' which he was reportedly fond of consuming 15 pints of before vomiting in the fireplace at a strategy meeting.....
Given the nauseating mess he is currently presiding over at the moment, it probably only takes a phone call from 'Laga' before he is sent running to the aforementioned again!!
Following the calamitous release of the Sports Direct results last Friday, their earnings per share figure is now 17.6 pence. Based on the current SPD share price of £2.21 their P/E ratio is 12.61.
If you apply 12.61 to our EPS, our share price should be £3.40. I accept that SPD are a much bigger operation than us but their performance is very much on the decline, while we are in The ascendancy. Why are we only worth a P/E ratio of 8.56 while SPD trade at 12.61 ?
Last post: Ejackson, 27 Jul 2019 09:45
I have said the same previously 1GW and we would be well rid of him.
Well if that Belgian tax figure needs to be paid he may want to sell his stake here to raise cash
I think we are all agreed on Education but to get the best price, the Board will want to continue its turnaround to a point that it attracts interest rather than being offloaded for offloaded sake.
In the meantime, it looks like SPD’s share price is going to be put through the shredder on Monday and quite rightly so too, however, I am worried we might get dragged along with it for no other reason than association.
Much as I despise Mr Ashley, I cannot disagree with the SPD opinion of Findel. It really is time to sell Education.
Sports Direct say in their results announcement that they are pushing for the disposal of Education to be looked at by Findel asap.
It does appear that with all the shenanigans going on over at SPD we are being pulled back by association.
Why else would our share price be dropping in such a fashion?
It is possible that for some, after yesterdays attempt by SPD to suggest financial irregularities, it may be a case of 'no smoke without fire' despite our Board's robust denial. To me it was a blatant effort to bring the share price down so he could have another go at taking us out cheaply when they are allowed to formally re-bid.
Expect more of the same from that odious individual who plays only by his own rules.
The irony is that Sports Direct delaying its results again this morning appears to affecting our price by association.
Started: Skindle, 25 Jul 2019 18:54
Last post: Ejackson, 26 Jul 2019 00:31
I hope you are right Columbo and from our Boards response it suggests that KPMG have had a confrontation with Grant Thornton which may be part of SPD’s delayed reporting, albeit I believe a small one in the bigger picture of their overall problems.
Time will tell but our forward trajectory is the polar opposite of SPD at this moment in time as I see it.
i still stand by my prediction a few weeks ago that sports direct will end up in the bin like JJB did,anyway alls studio need to do is keep there house in order,debt down,profits and customer numbers up,all common sense i know.
MA is a total menace and bully.
He cannot control his megalomaniac personality when others don’t agree with him.
What on earth did he think he would achieve by such a move? He just reaffirms the business community’s opinion of him. Extraordinary behaviour and it will be very interesting to see what SPD provide by way of their own results as audited by a firm that is under the microscope.
Truly shocking but a decent and balanced response from our side putting his pathetic move in its place.
The bigger they are the harder the fall..........I refer to the company of course ! Every dog has its day.
steal.
Last post: Ejackson, 25 Jul 2019 17:10
I find it disappointing that we are trading at a PE ratio of 8.9% despite a now proven track record of growth, core debt rapidly declining and the customer redress programme almost complete, to name only 3 reasons why we should be attributed a higher valuation.
Interestingly, we were trading 20% higher this time last year. The company has moved on and is set fair for the upcoming and all important Christmas trading period, yet the share price has gone in the opposite direction.
I have to ask, what will it take for the market to recognise the true value of Findel?
Happy with that and pleased to note the comment 'with recent weeks showing significantly stronger levels of growth'.
The Board appear to very focused on developing and rolling out the new technology, which has to bode well for the future.
Tu
Just what we needed a wee update and still on track
Steady as she goes then. Good to see.
Started: columbo, 15 Jul 2019 19:32
Last post: Ejackson, 17 Jul 2019 17:35
Timing for an update is as I understand it too Columbo
amazon also planning uk week long strikes,its getting a bit messy out there
https://www.bbc.co.uk/news/business-48990482
Yes ejackson next trading update at the end of this month with the AGM if my memory serves me right.
It looks like it is about to get very messy over at SPD. I can only hope we don’t get caught up in it all by association.
It is feasible SPD could become a distressed seller of their shareholding in FDL as they look to shore up cash flow. Personally, I would welcome any dilution in their presence despite the likely potential for some negative impact on the SP. Elsewhere, I am looking forward to the next update from our Board which is due shortly.
for our biggest shareholder,could they be the next JJB
https://www.independent.co.uk/news/business/news/sports-direct-share-price-mike-ashley-annual-results-house-of-fraser-a9004866.html
Started: Skindle, 2 Jul 2019 12:27
Last post: Skindle, 2 Jul 2019 12:27
Special resolution number thirteen at the forthcoming AGM resolves to change the name of the company to Studio Retail Group PLC. Following the meeting, I wonder whether the board will decide to undertake a strategic review of the future of Findel Education.
Last post: Ejackson, 20 Jun 2019 14:18
£3 looks very achievable and in the near term.
In an ideal world we should all just keep hold,but every investor has a different agenda,£3 has been a sticking point in recent years,be nice to have another bite of the cherry really soon.
Can’t understand why people are selling stock when this has been flying in the last few weeks and will continue to do so I am holding out for £4+ also
Last post: columbo, 20 Jun 2019 11:30
Im holding out for £4,our company looks in pretty good shape now.
Ask and our Board will respond!
A balanced view and a new fair value SP in excess of £4.
Last post: EvaRose, 19 Jun 2019 14:28
Thank you Skindle for your faith in my “. Board skills “ but my working days are behind me!
It’s my turn now to focus on what I want & identifying a successful company before the masses arrive gives me as much pleasure as when I had successes in my former life.
My limited knowledge of this company drove me to explore its true potential & in my humble opinion we are only just seeing something of its future potential.
This board of directors are a very savvy group who will drive the business forward to the advantage of us all.
Last post: Skindle, 18 Jun 2019 09:23
Very pleased to hear that. We are the self appointed reserve board. Ejackson, 1GW_, Columbo, Skindle and EvaRose as the non exec. What would the main board do without our sound and solid advise ? : )
Still very much on board Skindle and added to rather than selling down.
I can’t blame 1GW for top slicing and considered the same having bought meaningfully at £1.72 but after taking a look at the 2 year chart together with all the confidence being shown by those in the know buying shares outside the closed period following an excellent set of FY numbers, I have concluded this isn’t a share to be out of at this moment.
Given we were at £3 under a year ago before we knew what we know now, the market, finally appears to be re-rating us but imo there is still some way to go. The Board are getting on with driving forward an excellent company in the right direction and I was delighted and relieved to see in the results how insignificant the SPD tie up was as this could have become a real problem further down the line.
I have commented before that I felt Education could be sold but I suspect they will want to beef it up further to get a decent price which would be put towards working capital or pay down our debt albeit the latter is firmly under control. In the meantime, as long as it’s being turned around and results are improving, it won’t act as too much of a makeweight to our progress elsewhere at Studio.
In summary, I cannot see anything other than a real sense of positivity and realistic ambition from the Board which critically is being backed up with the numbers. The market finally appears to be showing it’s agreement too but it’s still cheap given what we know and when the bigger picture is taken into account.
Will we see an RNS attaching a research note and valuation from Edison?
Are you still with us or have you sold your Findel shares ? Disappointed not to have read your views on the final results.
Last post: columbo, 17 Jun 2019 13:52
Wonder whos buy that is,holdings rns in the pipeline.
1m buy at 2.62,i see youve been rooting down the back of your settee again for some loose change.ha ha
Last post: nighthawk, 17 Jun 2019 13:47
Toooo many zero's on me buy order.....still a bargain tho...
Last post: columbo, 17 Jun 2019 13:39
1m buy at 2.62,i see youve been rooting down the back of your settee again for some loose change.ha ha
Started: nighthawk, 17 Jun 2019 11:06
Last post: nighthawk, 17 Jun 2019 11:06
We done very well here folks...so glad we ditched Barcs and topped up.....
£262
Don’t blame you, profit taking is always the pleasurable part of investing. I am seeing the bigger picture now though. Even at 400 pence the P/E ratio is still less than 15. I really don’t understand the purpose of those small share transactions. Why not one transaction of 600 shares rather than sixty transactions of ten shares each.
Couldn't resist the temptation any longer. Findel had become my 2nd largest holding with the recent spike, so I've sold the ones I bought on 7th March, at just short of a 50% gain. It remains a top 10 holding.
Started: 1GW_, 14 Jun 2019 11:14
Last post: 1GW_, 14 Jun 2019 11:14
Someone having fun with the algorithms today, or have they got the units wrong and meant to be buying in 100's or 1000's? Perhaps a cunning plan to get us through what looks like a bit of resistance at the 250p-ish level (the "undisturbed share price" ahead of the Toscafund sale)?
Started: nighthawk, 12 Jun 2019 12:43
Last post: columbo, 12 Jun 2019 13:01
Buyers are out in force today fella.
2.54
Started: Skindle, 12 Jun 2019 12:25
Last post: Skindle, 12 Jun 2019 12:25
It looks like the Capital Markets event has stimulated further interest. Well done EvaRose, you called it correctly.
Started: nighthawk, 12 Jun 2019 12:02
Last post: nighthawk, 12 Jun 2019 12:02
2.50 now on the ask....nice
Started: 1GW_, 12 Jun 2019 11:28
Last post: 1GW_, 12 Jun 2019 11:28
According to the circular, the USP was 250p. We've got back in the vicinity impressively quickly, post bid.