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Manipulated yesterday as MM's wanted to offload stock.
I can't understand why the price isn't there already
Think it will drop down to 20-30 .
here makes absolutely ZERO sense.
It's essentially refinanced at 20p and diluted existing shareholders into the abyss! Share price should be less than 30p in my opinion.
Whoever is holding or buying these shares clearly read a completely different RNS to me
Hmmm. Interesting. Price is moving. May be worth starting with a small investment and following it up if it keeps going.
https://news.sky.com/story/ex-stobart-chief-tinkler-stages-comeback-with-bid-to-rescue-construction-group-nmcn-12337129
Can’t imagine it will be at a premium! Will watch what happens from the sidelines before making any moves here.
It's a steady stream of bad news isn't it. I wouldn't be surprised if it all unravels pretty quickly tbh as they've clearly got serious cash issues with all the RNS's r.e refinancings etc.
The management teams are clearly incompetent
not good news today
NMCN - The acronym of North Midland Construction, has had a massive fall from grace. Not alone above contractors of course but yet to have the recovery being seen in the likes of its larger peers such as Galliford Try.
This is mainly due to the accounting irregularities that dealt such a blow to the SP but that now seems to be behind it. Also we now have the appointment of a new CEO with a sound background in the sector.
Run properly & with a low market cap this company could, imo, recover strongly. So do not be surprised if unfashionable NMCN is one of the better percentage winners over the next two years or so.
You were right. CFO gone, CEO gone, auditors gone, cash hole by the look of it, my money gone, and the previous auditors confirm there was nothing shareholders needed to be aware of. Really???
Now understand why share price has not recovered.
Have made an expensive and hasty exit as removal of Chief Exec in such a way can easily lead to further revalations;downgrades; and sudden shortage of cash.
Was caught out by Accrol a couple of years ago in not dissimilar circumstances.
GLA
Cannot understand why the share price has not recovered to nearer pre-Covid levels.
Fundamentals look sound; cash in the bank; and in a sector which will benefit from Government policies.
So have invested with the expectation that the share price 12 months out will have doubled.
We shall see!
Tbh it was better than I expected, though. Good to have the water sector in there.
Not quite as good as it looked.
wow, I hope we are now all clear NMC Health has absolutely nothing to do with NMCN.
NMCN year end results looked good to me. Turnover up 19%, Underlying Profit up 32%, £26m in the bank with no debt, no defined pension scheme to worry about and most of their business is in the water sector with recent 5 year contract wins and another chunk telecomms which I would expect to be busy right now.
Oh, and finally a P/E of 5.3 which is crazy low. What's not to like?
Nm
Fraud
NMCN is well run - well supported by director & PDMR buying - very good interims reported & good finals expected. Cash in bank. Interim div increased sharply. With the upcoming HS2 work & likely infrastructure blitz will be picking up a good deal of the sub-contracts. Seems very good value to me & expect a solid uptrend to soon take root.
Lovely quiet board. Bought this after the fall in April and largely forgotten about it. Just had another look: I'm no expert but the half year results seemed great, loved the 50% rise in dividend which really shows confidence, and the October acquisition looks to fit them really well: "nmcn PLC is delighted to announce that it has entered into a sale and purchase agreement ("SPA") to purchase the entire issued share capital of Lintott Environmental Technologies Limited ("LET") which has a wholly owned subsidiary called Lintott Control Systems Limited ("LCS") (the "Acquisition") for a total consideration of up to £3,760,978.50 subject to a three year earn out.
LCS is a Process Solutions Provider. The company specialises in the design, manufacture & after-care of digitally integrated factory-built, Water & Wastewater Treatment Systems, Process Software / Systems Integration."
Plus wandering round the website was an absorbing and enjoyable experience! It looks like they've put a lot of effort into the rebrand, and present themselves really well. Unless I'm being hoodwinked they have a lot to crow about as well. Yuh, pleased I'm in here - especially as an E Midlands dweller - lots of good stuff going on.
Who knows? I topped up at 499 but I still have my entire holding so 115 so I'm fairly relaxed about things.
The fact that the CEO also bought another 15k shares = £75k seems a good enough reason to believe to me.
The chart looks like there's a good chance of 750 within a reasonable timeframe.
XD today and the bid hasn't fallen although I note prices being paid to start with this morning are 10p lower than yesterday so that kind of all balances out.
I dunno. The biggest decision is where to sell? but that's not something I'm really thinking about for the foreseeable future
Now the CEO is buying, and the company is buying its own shares into treasury: the only shares it has in treasury, none previously. I assume to do that it must buy at market price.
. . . .
The dots are there to be joined: the only question is, do I top up already??
...the CFO and his wife buying shares. Total holding now £200K.
"Director/PDMR Shareholding
nmcn plc announces that it has been informed that Dan Taylor, Chief Financial Officer, and Mrs S Taylor, spouse of Dan Taylor, have bought a total of 2,000 ordinary shares in the Group.
Dan Taylor's, along with associated persons, beneficial holding in the Group is 39,357 ordinary shares, representing 0.39% of the Group's total voting rights of 10,150,000 ordinary shares."
The commercial director was also buying, at the end of March, at £6.60.
Anyone know a reason for the recent fall?
Anyway, I'm doing my bit: in here for the first time. Maybe don't tell me if you do know a reason! :)
https://www.theconstructionindex.co.uk/news/view/severn-trent-names-contractors-for-2bn-programme