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Morning GFD - changes afoot!
Thought I would fly by - don't want you feeling lonely in here seeing as you've done such a valiant job steering the good ship GMS this far. Apols don't get too much time to post.
I'm still a keen stakeholder in this enterprise with my 500k shares - not going anywhere soon. My only problem with this share is that it now represents an alarming proportion of my overall PF!
Keep up the good work - we could be dining on this for some time to come.
the market place in general is so unpredictable at the moment i do not 2nd guess anything
what does this all mean ,some uncertainty for a few weeks with share price
Yes, they've been under investigation by the SFO for some time now, at least 18 months. SP had recovered and todays news has hammered them again. I think it will recover quicker this time though.
To quote a certain Schwartzenegger chappie, "I'll be back"
:)
(Again) lol. After I said I was staying put. Jumped into PFC, a little too early though. Currently 10% down there, but no worries. A quality Company that will see out this little storm and even pay a Divi.
the whole market place is slow today ,hardly anything being traded
do we get a holiday on your cruise liner?
Fair winds and following seas! On the continuing nautical theme the little bit of profit I took on my initial entry at 7p has just paid for my next two cruises and even the drinks bill. Cheers to Captain GFD and co of HMS GMS.
Agreed, hatches firmly battened down. Maybe even a little retrace astern waiting for the GM to happen?
The AGM was held at Linklaters, One Silk Street, London so I would imagine that the GM will be held there as well.
Hope this helps.
Depending on where the GM will happen. If it is in AUH, I'll attend and if and SP goes up, I'll definitely let you invite a pint or 2. I'll only cost you only 44 shares at today prices.
can see little movement today maybe 22.8 acheived but next 2 weeks full steam ahead
today. At least we're not going astern. A lot more steaming to be done before Finished with Engines.
GFD, apologies, I stand corrected; you mentioned performance related bonuses and it was the other poster that pointed out the CEO etc got none. My opinion stands....Executives get LTIPs for the reasons Selenium posted, but in this case got none (I assume due to poor Co performance)......but someone did hence my assertion it must of been the operational managers, and they get it for the purpose of retention...
Selenium, if you read the post that initiated this thread you will see that GFD opined that the CEO shouldn’t get shares when the Companies performance was poor; it was subsequently pointed out by another poster that he didn’t. In fact receive any From what I can glean it is not the executive management team that have received LTIPs so I’m assuming it is those more at the operational, rather than strategic level. If that is the case, you’re assertion cannot be correct as operational management don’t make decisions that impact the long term direction of the Co, they ‘merely’ make it happen.
That is why I still subscribe to the view that if the LTIPs were indeed paid to operational level management, it was for the purpose of retention. I assume this as it was declared that the Executive Management group (CEO) didn’t get any but some (un-named) did; who else could it reasonably be? Onwards and upwards!
GFD - Salaries were reduced 2016. That info was made public in the FY 2016 results presentation.
Si547 - You are wrong about LTIPs. LTIPs are primarily used to align senior management with shareholder objectives. LTIP awards should be stringently linked to company performance because of this function and therefore have nothing to do with staff retention. The conditions of vesting are put in place to help prevent short term decision making by senior management especially when it is not in the interests of shareholders.
Lol, nowhere have I said the Co has cut anyone’s salaries! I have said that when the market dropped off a cliff in 2016, it was common, and widely repoterted, that employees within the industry took salary cuts. Please don’t ascribe statements to me that I didn’t make. I’m happy to be held accountable for what I have said (it’s on record in this BB) but I won’t allow anyone to make things up.
The point is, with pressure on the workforce likely to increase as the recovery kicks in (????), it makes good sense for Co’s to implement and/or maintain strategies to ensure scarce and highly competent employees are retained.
I’ve already told you I’m in the industry so I’m saying that it happened across the whole industry GFD. Not a secret, reported extensively at the time, particularly in places like Aberdeen. First to feel it were day raters and then it was salaried employees. Nature of the industry is that when times are good they’re very good...when times are hard it’s hard for all. It’s for precisely that reason that skills shortages are forecast for the upturn as many have either left the industry or, the lucky ones, made enough in the good times so they were able to take early retirement.
Selenium, you bore me (and probably many others); a total of 2 posts and none of any substance.... Always a good idea to understand the culture of the industry you’re investing in. GFD would like to take that a stage further but I’m unable to help....
Totally agree - 52 weeks of good salary will retain the good old Johnnies.
GFD, totally agree. As I said it is fairly obvious Si547 works for them.
Sorry but you’re wrong, particularly when virtually every Co in the industry implemented pay cuts as it went off a cliff in 2016 and many have still not rectified that as times are still hard.
LTIPs are not intended as a financial reward, their primary function is retention and that is precisely why an award is given but not actually realized until a number of years later. If you leave you don’t receive the shares; if you stay, you get them ...... they tie the employee to the Co. If a Co doesn’t award LTIPs for year, all they have done is provided a window in which employees can leave with no financial penalty so in order to fulfill the purpose for which they are intended, they must be applied consistently.....
If I was a learned betting man I'd give odds 45-1 that he works for GMS.
Agree with GFD - not sure how they can award incentives when making a loss, been following the posts and interesting times ahead. I got back in, but not at a heavy buy given the general tardery. Might make enough to grab a hair cut at the barbers pole.
Because I understand and support the intent of LTIPs and want to see fully independent NEDs on the Board of a Co I’m invested in for the long term!.... If you’re able to make such deductions accurately (you’re not), then please let me in on who you’re investing in!