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I agree the others were taken in by the dud ceo - my guess he promised he would open doors through his multiple contacts in the leisure industry. In reality he took a salary and got in the way...
barchid you have called this spot on and i totally agree about the to highly paid BOD. But now might be the time for to get heads together and work out what this company is worth. The $0.2 million net cash looks a worry to me.
Taverham
I hear what you say, but if the other directors were all taken in by this "one dud", surely that make them duds as well doesn't it ?
If they disagreed they could have argued their point, but none resigned did they ?
Too well paid I suspect.....
I disagree with the duds point - the usa bits look the best to me. The dud was the american ceo who was in reality a middle manager suited to large steady ex growth companies imv.
Risky
Spot on, imo.
Duds bolted on, I bet there are some real duds in this company, starting with the very overpaid board !
comeonvog
Just as I sent that last post I saw the trading update out today, (not fantastic slightly lower than guidance) and no longer up for sale.
The advance knowledge of this trading update could well be the reason for this latest lurch downwards in the price, I would have more confidence if the board were changed as this BOD have signally failed. Let us see what the market makes of this announcement.
My take on todays news is that Steve Brown and other major shareholders thought the offers too low and also fell out with the now ex ceo who was never really a tech guy with the vision to seize the future opportunities. Thank goodness he is gone and the return of the main man is in place. The sp looks right to me given revenues , so whilst there might be a dip in anticipation of write downs , it should be offset by the executive changes imv.
comeonvog
Am I thinking of having a punt, yes, but what continues to bother me is the total lack of information from the BOD, which coupled with no "buyers" following through, indicates to me that there is something lurking somewhere which is a negative. I hope I'm wrong, but there must be a reason for the total lack of news and a continually dropping share price.
The mood music is not very encouraging, is it ?
I think we all expected this at some point given the share price - I'm just surprised the board let this carry on as long as they did I am concerned that the 24 March is going to have more holes in the Report than I would like and concerned that multiple bidders couldn't find a reason to buy a company which recently traded at around £30. My personal view is that the Bolt on acquisition strategy has bolted on too many duds and destroyed Shareholder value and there will be notable Goodwill wrteoffs - and that is why potential buyers are not prepared to waste their money turning this around - we will know in 2 months time.
comeonvog
Brain dead BOD sounds an understatement now, can you believe that the price is sub 450p and still no announcement ?
No wonder any take over interest came to nothing.
This board is a total disgrace, and a very highly paid disgrace at that.
Dipped my toe in here for a few at £4.80. It looks oversold to me, and with Peel Hunt and Liberum having a target of £13 seems plenty of upside, although it has been sliding for ages.
They make a decent product, there is international demand for it, and even if they don't make much money they could be taken over. It's a punt, but I'm getting the take-over proceeds from my holding in Charles Taylor, so parking a quarter of that here, and putting the rest into something more "sensible" (AAL).
You called this correct , but where from here. Must be buying territory soon , or is the drop never going to end.
BOD brain dead i concur.
Let's hope this wait will not be forever and shareholder's patience is rewarded handsomely early new year. Good luck all and happy holidays..
Sudnal
2 hopes for that,no hope & Bob Hope but Bob Hope is dead !
Rather like our BoD I fancy, braindead ?
Hope we can get some good news before Christmas?
Greg
Where have you gone ?
Always the perma bull, apparently, or were you the pump n dump ?
Anyway we posters are missing your bullish posts, what has happened, we are mystified
Seen the light perhaps ?
SP up maybe they have accepted £4 per share , by mistake?
Greg...Lard has a price and use too.
I m tempted to sell my tub ..and move on .
Plenty of Prime Pork outfits out there with low PE s and Competent Managers...
Some you win and ....
Greg
We appear to now be at about an all time low pricewise, do you still have full confidence in the BOD and the effect that US theme parks having record numbers will have on the share price ?
If there really is a buyer it looks like his/her preferred form of travel is by submarine ?
As I have been saying for quite a while now, this stock looks more and more like a tub of lard.....
Greg
Thanks for this input, I am modestly happy to see ACSO up 12.5% today, but let us not forget that it is still down 80% from its peak about a year ago, so it is more brown ale than champagne I think you would agree ?
Sailor raises a valid point today, if Tom Burnet (renumeration last year $609,000) sees it fit to become Chair at another company perhaps my unhappiness with our BoD is not misplaced ?
Barchid,
You might not think it's revelent, when Cedar Fair has released record performance figures it has an impact on ACSO revenues.! Which is also up 7.7%
https://www.businesswire.com/news/home/20191106005215/en/Cedar-Fair-Announces-2019-Third-Quarter-Results-Reports
Gossip:- Accesso's former CEO, Tom Burnet, has just been promoted from NED to Chairman at Kainos (LON:KNOS) - which makes me wonder if maybe his interest in ACSO might be waning?
Greg
I think we have done what research can be done, like the stonking remuneration our BOD receive, anything else, until they give us concrete information, is surely guesswork, not research ?
One thing that keeps bothering me though, is why this due diligence should be taking so long.
Hi Guys,
Do some research and you'll see some of our customers have had a good H2 so far, which in turn should relate to ACSO.
That's why this is in the RNS:
". The interested parties remain engaged in financial and operational due diligence."
Risky
I suspect that you are spot on with the rns, I sincerely hope you're also correct on price predictions, but if we're not close to the bottom by now there has to be something very wrong somewhere !