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I have no influence on what is and isn't released.
You really need to learn the difference between a trading update, and the actual results. I've never said there won't be results, I did say that there won't be an update this month, but the results will be released as normal next month. It really isn't that complicated.
At least now I've learned that anything else I get told I'll keep away from this board.
Now I’m really confused ?? At 8.34 on Monday you stated that you’d been told that there wouldn’t be a trading update, now you’re saying you didn’t say it ? But I thought you’d heard it from the CEO ???
Also, they don’t need to pay the dividend out of profits, they now have a loan-note to stick a plaster over any immediate problems.
When Macro events like elections are happening, I pay even more attention to my stocks, not less.
Sir, Your choice of words and phrasing leads me to believe that you have a direct influence on what is and isn’t announced, is that correct ?
No one has mentioned that there wouldn't be interim results, they will be out as usual.
It depends on your interpretation of a large position, I've got 75k shares so it's a large position for me, but not enough that I couldn't sell them all straight away if I needed.
I wish I didn't say anything now, I thought it would put people's mind at rest when we didn't get the update. I'm not worried at all, as far as I'm concerned if there was a problem then they wouldn't be recommending a dividend.
The more I think about it the more I worry. Time to exit tommorrow. Small companies like this normally break the pattern when something has really gone wrong. Profit warning in the offing?
Takes time to unwind a large position
Indeed, a reason to sell in itself.
So, let me get this right. The CEO has disclosed to an individual that there will no interim results due to an election ? Sounds more like a corner shop than a plc.
I do have a largish position, but if I was worried then I'd just not say anything and sell them.
Maybe the delay is because they are working through bad news, you are worried and have a large position and are trying to delay others with doubts from exiting while you do. Who knows.
Saying trading is in line with expectations is a perfectly normal and regular trading update. Macro events can't possibly be a factor for delay. Other companies are updating all over the shop. Smells fishy to me.
I agree that people make up all sorts on these boards, but I genuinely have no idea what the benefit would be for me to make it up, it's not really good or bad information, it's just information.
Ian Smith. I asked about the dividend, I wasn't sure I'd get an answer, but if he didn't answer it then it would have concerned me as I wouldn't have thought he'd be able to say there isn't one. But I'm pretty sure he'll be allowed to confirm that the previously announced plans are still relevant, which is all he's really done.
People make up all sorts of crap on these board. Who told you that?
All those question marks were supposed to be laughing faces, I'm guessing it doesn't recognise them.
?????? Are you honestly saying I'm making it up? What benefit would I have for doing that?
How is it a breach of market sensitive information? We already know they are supposed to be doing an interim dividend so its not new information. It would only be a breach if they said something that wasn't already in the public domain. As we already know, the progressive dividend isn't new information.
I am genuinely interested in why you'd think I'd make it up though.
What a load of rubbish. So they just casually dropped in declaration of an interim dividend did they? Gosh that is a breach of releasing market sensitive information if ever I heard one.
Go try your luck somewhere else.
Seems genuine to me. Also could be because of the overreaction to their last trading update.
No particular reason other than the timing doesn’t seem right as most people’s attention is on more macro matters such as the election and Brexit. Also, as we have nothing to say that requires an immediate announcement, we have decided to wait until the results are ready.
Yes, we will propose an interim dividend.
Agreed Hazrat, last year was a trading update early December saying everything is in line with expectations. Prior year had a fair bit more detail. I don't see why there wouldn't be one even if its just "in line with expectations"
Told by who? Sounds a bit odd to me
I've been told there won't be a trading update because there isn't anything unexpected to add, and because of the other things going on in the country that didn't see the need for it.
The progressive interim dividend is going to be announced in January.
So overall I'm more than happy, they must be making enough profit to keep with the dividend agreement as planned.
Rather indicates the jobbers happy to take the stock well above normal market. A very bullish sign indeed.
Obviously I didn't actually want to sell them, I was just wondering if it would let me.
It'll let me sell 75000 shares in one go without going to negotiated trade, it's unusual for it to do that. Hopefully we're in for another rise since it's settled at this level OK.
Hi. Agreed that the ECL needs to be maintained throughout the life of the agreement, but once an agreement is terminated and linked to a sellable “hard asset”, then once it’s sold the proceeds go towards the o/s balance. Any remaining debt should be written off and then brought back in if and when any further monies are recovered - I’ve checked with other finance houses and this is standard industry practice.
If the debt is not secured against directly against a tangible asset for which the loan was provided - IE a “soft asset” or a loan, then the hit should be taken at point of termination.
The idea that you carry the provision on the balance sheet and never write it off just because you hold a PG, just wouldn’t work.
IE; you could hold a charge on a property and the courts decide that it can’t be enforced until the property is sold as there is a family living in it. Therefore you could wait years to recover your debt.
For this reason, once an agreement is terminated, the hit should be taken immediately and only upon receipt of any proceeds should the debt be credited.
If they aren’t adopting this standard policy, investors should be made aware and the full extent and age of the 90+ Day debt should be declared. There could be a potential large bad debt that’s not been realised and for one would like to know to what extent this is as its possibly one of the most potential threats that could hit a finance company..
Sharesearcher...I wasn't impressed last Feb/March 18, with delays in announcing directors selling ( in one case 6weeks ) and around the same time MD stating he wasn't buying any, preferring to rely on his incentive plan. Hardly inspiring.