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Hello Glengarth,
It seems you are the only poster on this board so, as a small shareholder of BHC, I thought I would join you. Where is BHC going I wonder? It was an exciting, vibrant company under the leadership of Michael Williams. However, since his sad departure, the company seems lacklustre and making little positive progress. The communication with shareholders has dropped off and no enthusiasm is conveyed. Now it is raising 0.475M for working capital and plans to change its name to Union Distillers. Of course, the share price is reflecting this. Is it stagnant, or worse, without Michael Williams? I do hope for some positive news, although any news to shareholders would be an improvement for the current leadership.
Well, it's made close to 1m loss in 2019, then increased to two millions in 2020 (even considering those accounting period changes).
And now after equity raise in 2021 instead of timely report it goes straight into (temp?) suspension.
Hello Yuri_F,
Yes, it doesn't look good - a shame. Not being able to complete their accounts for 2021 even after an extension doesn't look good. Accounts can be good or bad, that's life, but not being able to complete them? Are they implying that there was an issue with the valuation of the original Union Distillers when acquired by BHC regarding their stock take? Again, there is a lack of communication with the shareholders too.
Are they profitable yet? Another RNS with mantras about delayed accounts and even worse - now the need for finance and asset sale/restructure, would be interesting to see where did money go they've got not so long ago. They keep feeding the story about sales (now with "uncertainty" stance and other issues in a channels added) forgetting to mention what in order to be sustainable and self-sufficient - it needs to generate profits on a first place. Cutting costs probably is a good thing but it's not something you can pull off without affecting productivity (otherwise the obvious question would be "why the $%^& where you wasting these money before?"). I hope we can see net financial results soon as promised (not for a first time already). In summary: clouds are getting darker.
Here it says still suspended, but latest RNS (with interim results {loss}) reports it's restored and trading resumed from today 8am.
I also saw charge was filled earlier this month against them by Lender: "Tusmore Collection" for range of intellectual property/brands (also mentions loan recall due to covenants breach, mortgage, real property, etc. - but I guess it's just a placeholder and blanks weren't filled in this standard template). Would be interesting to see if they can pull this off as last equity raise might not be enough.
I think the other terms are not there by accident. I wonder if the current management and some major holders are about to be out maneavoured and the Tusmore Collection will be able to recreate the original ethos and direction of the company under a "new" management using its control over the brands, IP and property if/when the current team default on the terms, which seems likely in due course?