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What was Hellers response? It’s a fair point that you make about TGA but their share price did increase about 9 fold during last year! If Bisichi did a share split, made the shares more tradable and attracted broker interest then they and the private investors could enjoy the benefits of this.
I totally agree that the Bisichi Directors could and should to more to support their share price. I have been to London to tell Andrew Heller this in person.
However, I would point out that Thungela basically do everything they can to be transparent and aggressive in their dividend payments, and they are in exactly the same pulverised position as Bisichi, both having absurd P/E ratios well below 1.
As a disgruntled shareholder I agree Wiscos. The last 12 months should have been an exciting and rewarding time for all Bisichi share holders but the management team ensured a different outcome…
I held shares in this quite disgusting example of British greed and corporate robbery after someone posted positive things and a cursory bit of research. Luckily for me I bought fairly cheap and sold out immediately the results and dividend were announced after I had realised the company is purely for the benefit of the directors and their families. I expect they buy back some very cheap shares every now and then. But this is a total waste of time unless someone decides to acquire the business. And who wants a dodgy coalmine and some falling UK property. I truly hope anyone reading this just doesn't fall for the positive spin that is easy to put on the crazy sp. I'm something looks too good to be true, it probably is. IMHO the directors are totally unsuitable to run a public company and a regulator should be investigating. But, broken Britain is now, sadly, just Broken.
I’ll have to moan more often - it’s seems to have worked wonders this morning! I’ll ease off when we get to £6 a share…
After months of stagnation and falls, the price suddenly rises by more than double tomorrow's xd fall, on negligible volume. What gives?
Morning Edward. I plucked £1.50p as a price because I’m showing £1.79p here. Knock the divi off and with the big spread we’d be not far off £1.50. Although part of my share price prediction is because I have a bit of a ‘downer’ with this share. The lack of information and shareholder engagement from board and the subsequent stock price has left me bitterly disappointed with what’s happened here over the last 12months - which happens to have been the best in the companies history…
The dividend is going to 12pps. How are you getting a 50p drop?
I assume there is a general realisation that coal prices have risen $15 from the (still decently profitable) trough, and are looking positive onwards. And Transnet seems to be getting a grip of itself.
It's very simplistic, but that's how it seems to work.
Did I miss something this afternoon? When these go ex d we’re going to be looking at £1.50.
Thank you
Financial Diary tab above suggests 6th July.
Can someone remind me when these go xd please. Cheers
Thanks for sharing that Edward, very interesting. The tone of your email implies that you feel a little better about the situation after attending.
Yes, I was certainly there, along with maybe 50 others. I mistakenly went to their office in Little Portland Street, and was put in an Uber (at their expense) to the correct location 20 minutes away. My mistake provided a good opportunity to see behind the scenes.
I had the opportunity to speak with AH at great length when the meeting had formally closed, and I emphasised all the points I had raised in my previous emails to Bisichi (which I have shared on here).
To some extent, I think the conversation was conducted privately, so my thoughts below reflect that.
On the weakness and reluctance of communication (which I contrasted with that of Thungela), a commitment was made to determine what information about their very substantial investment portfolio could be publicised.
I would say the appointment of each brother to the other company's board will be positive for dividend policy.
The hopeless websites of both companies are being redone.
I think the new style of the companies is yet to emerge post the generational shift.
My opinion remains that Bisichi and LAS should either be merged, or properly separated.
Hi Edward, how are you. Were you able to attend the AGM? If so, what was the general mood etc.?
Good luck Edward! Let us know how you get on!
I’ll be disappointed if I don’t hear that the board are not chucking back champagne and caviar at the AGM tomorrow
Yes, Beza, they did respond, and confirmed that my emails (plural) had been circulated to the board.
I will be there tomorrow (as long as they let me in...).
Hello Edward has Bisichi replied to your emails? The AGM is not far away.
EdwardSeaton,
From past experience with other companies, you have to attend in person.
There won't be many people there & it might feel like a waste of time, but it isn't.
Take a fellow shareholder with you, or someone from a BB with a similar view to your own. Stand up and ask as many questions as you like. If they try to close it down don't let them.
Insist on them answering shareholder questions before you vote on any of the resolutions. Also before the meeting try to get other's to make you there proxy at the meeting instead of the chairman.
If need be request a formal count on one of the resolutions, they will try to pass it by a show of hands, but if 2 of you refuse to accept it, they will need to pause and have an actual vote count ( in the old days these could hold up the meeting for several hours - not nowadays).
The object of all this is for them to realise that you are going to be a thorn in their side going forward unless they engage with you & listen to your grievances.
Yes LAS might be a point of attack, but you don't know how much of LAS, AH own's ! or Bisi owns either.
Personally I'd be going after the massive salary increases & bonuses that went to those employee's. Who they are and what is there connection to the company director's. (there are other follow-up questions to ask but I won't post them publicly as that would let them know what's coming & that's the last thing you want).
Where the money was invested, why it wasn't broken down in detail or the true investment strategy revealed. As well as making them very aware that the property portfolio, has done very little (capital wise) other than conveniently bring in enough income to pay AH's annual salary!
LOTM
Edward, Stockopedia quotes the recent results as turnover - £M95
Profit - £M39
EPS - 204
Free cash flow per share - £202
If anyone is interested, I have (on numerous occasions) raised the nonsense PE/Dividend/Yield figures they quote for Bisichi with LSE.
Likewise, the absence of 2021 and 2022 Annual Accounts on the RNS Live.
My point to them is that if this information is so wildly wrong, it is very much worse than useless. For whatever reason, they appear helpless to rectify.
With the share price now at 200, Bisichi is now on a historic PER of 0.98! I recognise that next years results and eps will be much lower but even so…
To clarify, I did say 'publicly traded', by which I meant not LAS or Andrew Heller owned.
But yes, I am substantially committed, and will do what I can. And no, I am not Tim00, who I recall really is/was a substantial holder.
… look on the bright side - you’ve got about a £15 1/2K divi heading to you.
Wow, that’s quite a stake to say the least! Are you Tim00 with a name change? I seem to think he once said had he had a similar sized holding.