The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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An interesting and well managed AGM this morning. No new news for me, i.e. Just a restatement of what we already know from the history on this board. The main theme was to put the past behind them and get on with winning new business. Operationally, staff turnover is not an issue (good), network and hosting capacity is sufficient for existing business and significant amounts exist for onboarding of new business (excellent) and the finance team refresh has been completed with 9 new staff with appropriate qualifications (so no more surprises). All now seems set for going forward and winning new business, so as far as I am concerned, my confidence has been restored in this team.
In line with expectation...YET, will have to wait for bit more details after 10;00 this morning....hopefully no nasty news.
Another little Director Deal has just popped up. the CFO has decided to join the party. Surely a show of confidence? The Chairman of the board bought yesterday as well. Taking positions before the AGM.
And yes fully agree this is still a bargain.
The SP increasing to circa 80p after he bought more,then dropping back to middle 70s so he can have another go....lets see what happens this time round....
Agreed there. The MM's are at play. Either way, an undervalued position at the moment IMHO.
A little burst of activity today, with what appears to be lots of little buys. Cant see the L2 activity mind.
He certainly knows a bit more than we do....constantly increasing his holding,and the M/M doing their bits to make it cheap enough for him...if its good for him,then its good for me.
And today I see an OTC trade of 2m shares appearing on the London stock exchange site. Something afoot?
Mr BBD. indeed a substantial increase and yet the price continues to trend down. Market pricing is clearly an alchemy that I do not yet comprehend.
malafuster - Mr Griffiths increased hsi stake again, or has placed an order that has taken a little while to fulfil.
Mr Griffiths is also a reasonable shareholder in another Tony Weasel company - CoreTX. CoreTX is listed on the LSE, and MXC own 22% of the current stock. Must be skilled at stalking MXC and making $$ on the back of their activities. http://coretx.com/about/investors/major-shareholders/
Aphrodiet - cheers - whereabouts on advfn?
There's further comment from Techmarket view ( subscriber only ) But it's on advfn if you're interested. Cheers.
Possibly, but most of the Non Exec board are new, with an increase from 2-3, to 4-5 now. New CFO as well. To be honest, he was the last one. After the AGM everything is behind this business and they move forward and upwards IMHO.
Yes,he had no choice really...since the investigation started the SP took a massive dive,I think there going to be further board changes while the company waiting for the FCA report...necessary as they trying to re build their credibility back .
What other news could come? The FRC and FCA (although described as chocolate teapots) need to do something next. Agree with H-HI - jumped before he is binned. Have a read of the link from Aphrodite. This gives the best analysis.
That's very interesting. Why is FF leaving now? Maybe more news coming before the AGM.
Was gonna get fired anyway so decided to jump!
Possibly something along the lines mentioned. https://www.*************.com/views/30146/exclusive-redcentric-and-the-payroll-fraud-it-learned-from-rob-terry-how-has-ceo-fraser-fisher-not-been-fired
AGM Date now set for 4th Sept in London. Anyone coming along to try to get a better insight?
The release is perhaps not clearly communicated/worded, so is open to intepretation. Regarding the FRC investigation and its extension, although PwC cannot prepare the financial information, I would expect this investigation to look purely at PwC and its members. Extract from another source: ""Now, the FRC has an individual in its crosshairs, though it did not name the person who will be in the spotlight during the investigation. In February 2017, the FRC announced it had commenced an investigation into the conduct of PwC and their audit of Redcentric for the preceding two years. Redcentric’s 2015 accounts were signed off by Jaskamal Sarai and in 2016 by former head of PwC’s Yorkshire office Arif Ahmad. "" Mess up the accounts one year, ok not great at all, 2 years in succession, oh dear. IMHO i would be surprised if PwC isnt sanctioned/disciplined/fined by the FRC for this. PwC's mistake as a big 4 auditor has cost this organisation, regardless of its internal conduct. Expecting the FCA will deal with the CFO and any/others from MXC regarding the rest. GLA.
YET, it's faster than I thought....
Quite a big punt by Mr G.