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I wonder why the sudden fall today?
Maybe ripe for a Takeover - as per Simon Thompson's IC tip ?
If it holds above 83 looks like 90s could be on!
Don't be silly
Wow - the CFO and the CEO gone. This one is done for, I reckon the share price will halve again over the next few months.
Having done the math it would seem second half revenues will be about £25 mil so I'm not sure I see a cliff !
Yet some are still buying.
Looks like everyone saw that coming. Haven’t done the maths yet but H2 falling off a cliff. Given performance changes were required. Comms some of the worst I have ever seen treating shareholders with utter disregard
Gresham always are relaxed about their stock falls. Saw you coming! First there was the Jani fire sale mopped up by? The board. The guy got a bad case of covid it eventually transpired. So he had to take a 40 per cent drop! Seems a little bizarre. Is health care that expensive? Presumably these guys have health insurance plans. So is history about to repeat. The board generously mop up cheap shares again with no plausible and I mean plausible explanation.
Those purchases were made before today's RNS and share price drop. Therefore appears to have been unfortunate timing on the part of Gresham.
I timed this just right in selling yesterday for a lovely profit.
GLA
Well, Gresham seem to be certain that it's not so serious!
That's 3 large purchases in a few days.
Can't wait to see the next news release!
Couldn't agree more rotto. Sadly , 'deserve' doesn't come into it. No way can they sweep this under the carpet - if they don't publish a specific explanation now, they're going to have to explain what happened at the next scheduled reporting date.
Expect Yani is thinking he was well out of it assuming his health is ok. I have to admit thinking it was a bit of an excuse using covid as the reason for dumping 12 million shares on the open market. Remains to be seen if ex ceo will do the same. The CFO only had 30k in plus maybe some options. Harry /Henry had warned of a slow down but was already on a low pe and pretty reasonable cash position and net asset values etc. this could be a good opportunity. The trouble is shareholders are treated with utter disdain and the staff are not held in the same regard as for instance Eqls. For that reason I will continue to monitor. I suspect this is the usual meerkat over reaction though unless told otherwise and on previous form don’t get the sp on that.
Surely, good governance, even on AIM, demands that a market statement is provided today.
Investors deserve nothing less.
Mmm, Chairman announced retirement in July, then CEO went and now CFO. It does seem serious and the market obviously doesn't like it. The SP has roughly halved since the recent high in July. On the face of it, the business seems to be doing OK, so what are we not being told?
More board room shenanigans with today's announcement that the CFO has resigned 'with immediate effect'. Unlike Harry, she receives a terse thank you.
What to make of all this? Clearly there's been a board room bust-up. Has something gone wrong with the strategy? Are we about to receive bad operational news? Has someone been a naughty boy (or girl)? As usual, we PIs are left n the dark... left nursing our losses as the share price drops to all-time lows.
Haven't been close to this one but wow, interesting RNS given the total lack of additional detail. You'd think that they would at least try to reassure that there are no accounting issues etc.
Seems I got my Henry and Harry muddled up. The Beckwiths , father and son are big backers of Argentex. Not royalty , but titled. This could be another storm in a tea cup, but as last time they dont seem keen to get the story straight yet. As a guy on Stockopedia observed his departure was not thanked. Not great for PR. The big question is will and when will Harry want to cash in his shares?
New chair didn't waste any time here, been in for less than 2 months and already booted the CEO. No thanks or any kind of message from outgoing CEO and a new CEO stepping any straight away suggests a particularly bitter dispute. Must really hurt to be booted out of the company you started. I wonder how quickly he will be disposing of his shares... Hopefully new guy will keep a tighter grip on costs and margins and have a more disciplined attitude to investment
Company is now officially dirt cheap on financials, in line with the rest of the market, starting with £20m of net cash on an £80m market cap
Wow. They say lightning never strikes twice. Not so with this company. The other founder having left with long covid,but rather mysteriously dumping all his shares which were mopped up by the remaining directors at a massive discount which crashed the shares to 80p. Today we see a new low when the ex?spice girl partner even more mysteriously exits with no explanation, although I have a pretty good idea. That is immaterial really because the fundamentals are better than when the other founder left. There is around 27p Asset value per share if that info is correct and up to date. They did warn of a slow down in trade. The question is to hold for recovery or move on. There are better places to invest without the uncertainty and lack of information. This big problem is how damaging will this be to the confidence of clients.on balance, although financially on a stronger ,it doesn’t look like a bargain yet
Of course it looks like they are hiding something. The share price reaction testifies to that. Has Harry been on the fiddle?
Would be helpful if they explained why he has left with immediate effect. What a thoroughly unhelpful RNS. Looks like they are hiding something.
Never a dull moment, eh?
They say he's left the Company with immediate effect.
"Left the company", not "resigned", note ... in the world of corporate euphemisms does that mean he's been fired?
Argentex Group plc posted interims for the HY ended 30th June this morning. Group revenue increased by 28% to £25.0m, operating profit increased by 16% to £5.2m while Group EBITDA margins were maintained at 29%. There was a £3m increase in net cash and an Interim dividend of 0.75p per share was announced. Valuation looks relatively attractive with forward PE ratio 9.3x top third for the IB&IS sector. Main cloud for the investment case is the lack of positive share price momentum, indeed today’s decent reporting has triggered a 10% slump suggesting that it remains too soon to buy. AGFX has plenty of growth potential and is trading at a reasonable price, but it remains a share to monitor for the time being...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/AGFX/794