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This seems to be a restatement or extension of the investigation into PWC,'s role as auditor of the misstated accounts. I can see nothing new here. Am I missing something?
Started with a big drop below 70p for the first time in a while....didn't last long,and volume increased since,some news on it's way me thinks.....
I really tried to give this stock a chance. All the way from the high, to the low, the subsequent average down and was heartened by the II accumulation. But the results were a kick in the teeth. With this management I'm struggling to see the viability. The profit margin is very low, the debt high, and sustainability dependent on existing customers. Hence I sold out but wish u all the best.
Inclined to agree max. May just hang on for 70p but any lower and I'm definitely topping up.
This is what some call " the silly season" drop here recently on the back of very low volume,,opportunity to buy IMHO, possible further drop while this summer sale is on going,BUT, expecting nice rise later on with decent run to the end of the year.
What's the general view here? There was the crash last autumn down to 40p or so, rapid retrace to just shy of £1 and now a persistent gradual falling again, albeit still someway off the low. I bought in on the original retrace last year at 78p. Now thinking of topping up to average down, on the assumption that once the FCA investigation is finally behind them we could be looking at quickly getting above £1 again. Anyone else thinking now could be good time to top-up? Or indeed that now would be a good time to sell?
Another one joined to the big summer sale. .. Time to add IMHO.
Another
No date announced yet for the AGM. I guess that will be the next trigger point for the SP now.
Above 80p....although only small,every little help...great price to enter/add,and expecting nice rise in the mid.term GLA.
Well this is depressing . Almost back at my buy in price of 77p. Should sold when it hit 99p within a few days. Looks like it's going to be a long haul . Hope the FCA matter gets cleared up sooner than later
There you go......like I said buy on the dips....M/M drop the price to below 80's for a test,and ,woosh....
A steady announcement about a steady company well placed for steady organic growth. The FCA could be a distraction but is being managed by a committee within the co, so should not distract from operations. The II's have bought into RCN in the last few months, so I assume they take the same long term view. As to margins being unexciting, I see that as a good thing. I.e. we are not investing in a wild west scenario with desperate competition. Steady as we go.
It will be another 12 months before this settles down, the investigation by the FCA appears to be taking an eternity, not sure why as it's not that big a company !?
They should put the company up for sale as i think the current management is boring and useless considering we are in a boom cycle for data / cloud it services. Too much focus on FCA crap as well.....FCA needs to focus on individuals / audit company responsible and not the whole company as they are just punishing shareholders. We don't care about divi but just stop diluting our shares and cancel any future generous share awards / options.
Not great tbh. No closure from FCA enquiry, and operating margin isn't good even taking into account the non-recurring cost.
Very much in line with expectations,and understandable why no divi this year....need to finally draw a line over the accounting fiasco and can hopefully be not too long to complete the FCA report. There after expecting to see healthier and stronger company.adding up on the dips will handsomely reward next year IMHO.
This doesn't appear to tell us anything we don't already know from previous updates. I.e. encouraging underlying business marred by one off charges. However, no dividend and still no comment on FCA review. This one is turning into a long haul.
IaNS - Hope not regarding suitors. I would like to see them with the bit between the teeth and get back on the acquisition trail and grow the business, which is very much achieveable. That would be a winner after the last 12x months or so. If sold, its just another pointless merri-go-round of sale and/or accquisition. There are too many small/poor providers in this space and a bit of consolidation maybe better. Cloud Technology will be big in this space in the next few years.
My guess is that our new NED's been put in place ahead of the full year results on 29th June and absolution from the FCA, which will then make the company very attractive to a suitor at this price.
new NED: with a part time hobby of Tax Avoidance in the form of Invicta Group Flmaking companies ;)
IaNS - Certainly does.
His LinkedIn profile does indicate an experience in facilitating company sales at a healthy price
Nice and steady rice today, some solid buying, is there any news due on the near horizon ?