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Nice to see Kestrel in there again, worth following.........
IMHO - expecting a good bit of news for FY end and consolidationin th next FY year after the accounts issue. The news regarding restatement of accounts, the results of any FCA and FRC will probably cause the MM's and noob PI's to do some shorting and the SP to bounce around. current SP is a little under value, and hope for 100 plus sometime soon (considering the SP was 190 approx 6 months ago).
Agreed and I hope so too.
As I could not resist a topup @ 87.25p I noticed a delayed trade from yesterday - buy - of 280,000 shares. Bound to bounce soon imo
NHS will increase their IT budget definitely and pay premium for bespoke data / IT services.
Certainly good news. RCN already hold public sector contracts, the sector most affected by recent events, and cyber security should now be higher up the agendas of BOD's across all sectors.
Probably stating the obvious but surely we're in for a significant bump today...
Mr Basse, As much as I'd like 100 by today, highly fanciful that we will see a close to 15% rise on today. Hopefully steady rise to that next next week. Definitely see your 120 target as correct, but not sure on the time frame. Finally some positives though, and always got to love the optimism.
Should break £1 today on its way to at least £1.2 in the very short term. All imo:)
Good news, I particularly like th following statemements - The Company's trading results for the year were in line with the Board's expectations. Redcentric experienced good sales momentum in the year with a number of key contract wins and renewals in both the public and private sectors. Net debt as at 31 March 2017 was £39.5m, an improvement over the previously reported average net debt position to 30 November 2016 of £42.0m. This improvement was despite the significant exceptional items related to the forensic review.
BSA - Indeed. I see three elements here; FRC's investigation regarding PwC, the FCA investigation of RCN, and finally the FY results and restated RCN accounts of previous years. All important. Good results IMO will pave the way, but as you say a little more is also needed.
Mr BBD. The FCA can, I believe, take their own time. So I assume we will need to wait for their response before we see any real improvement. IMO a good set of results in isolation will not be enough.
GFD - Agreed regarding PwC. Looking at some of the other case history on the FRC website, PwC and/or its representatives have been fined and taken through Tribunals and regarding other cases. As the RCN case goes back a number of years, the FRC will have a little bit of info to look at, as well as any possible issues with MXC. MCap - crazy that is dropped so much, perhaps the the MM's were expecting the worse, or everyone saw a chance to do a boat load of shorting.. The day of the news and low of 40p, it bounced to approx 70p, so anyone who took a short and a chance did well!. Like the short term and longer term SP. The short term I would be happy with ATM. MrBBD
GFD - With you here.. Awaiting the FY end news and financials and some good info.
News on this would be good. But expect this to take a while longer. Also watching for news on the FRC investigation into PwC, as if the FRC find in RCN's favour, good news as well.
Perhaps the all clear news re the FSA investigation is on its way....the price rise of the last few days certainly hints to that direction.
BSABantam - FCA announcement. Dont think you have missed anything, its a continuation from the previous financial restatements. PwC have been reported to the FRC, but also the previous CEO was/is a owner of MXC. Perhaps this has sparked the FCA interest. Sure another RNS will be released in due course/next few weeks. The FT link is appeared slightly more current, as it gave the last position of most large II's/ holders and the date it was current. Better than the current Co's information. GLA.
GFD. I agree with your general view. My limit order from last week kicked in this morning and I picked up more on the drop. I do hope this one comes out smelling of roses.
MrBBD. Thankyou for the link. The numbers for major holders there are more recent than the RCN website itself. Curious RCN did not run their own interpretatuon on the FCA announcement. Should they have put out a news item alongside the RNS? A more mature co may have done so. Did I miss something,?
GFD - Been wondering the same thing. Had a quick look here for more info: https://markets.ft.com/data/equities/tearsheet/profile?s=RCN:LSE
Interesting timing for this announcement. Just in time for a "pre results" review of this years problems. It will be good for those holding RCN for the medium term if this is completed in the next 6 weeks.
Opening price has a near 3pc spread this morning. Anyone know if it has been the wide in the past?
RNS Turned out to be a spreadbet. Maybe the II's are not so sure in the build up to the results?
5.9m showing as a sale. Co-incidentally a similar volume to the recent GS holding. But would they sell at 87.5p? We'll need to see if an RNS appears today or tomorrow. Is the price easing up today?
Big trade yesterday. I assume it was a buy.