The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Interview with investor Nigel Wray:. He talks a lot of sense about investing in small companies, and in particular is asked specifically about PV during Q&As at around 18:25.
https://www.youtube.com/watch?v=-z0LNVmFuAc&t=265s
Interesting to see that Chris marsh and Paul May are both directors of the above company. They obviously have a very close working relationship
Agreed. It’s an awfully long suspension period.
hard to see how anyone associated with this debacle can escape without their reputation pretty much completely destroyed.there is often a price to pay for arrogance unfortunately most of the people being forced to pay the price have had no role in the running of the company and no responsibility for the current situation
Being selfish I am quite pleased still suspended.
I looked to see what cash I had to possibly invest and I hadn't realised the account was 90 day notice!
I'm not skint, just illiquid (yep, it is a word - I wasnt sure so googled it!)
Cake n eat it for val pat!
Mr J not in control of this situation imo. The lawyers and Nomad will be calling the shots here now. Yes he has a loud voice but after recent publicity and events this will have huge scrutiny over every decision.
Think that it is Luke Johnson’s plan to create as much uncertainty as possible and delay the process so that the share price falls as much as possible. I can see the price falling to 50p and Luke Johnson then offering a £1 to take it private. He wins, small shareholders lose. It’s a great game for some
Taking so long to sort this out that in my opinion it’s beginning to look like a business model issue rather than a hand in till issue. I’m not convinced it’s a “nearly”, but if it’s viable it will be in PE hands sooner rather than later.
No RNS because there is nothing to say I expect.
They wont relist just because they have convinced city investors to support them. The situation has to be understood first. It wont be just up to them, I would have thought that AIM (though God knows they are fairly lax) will also need to agree.
I saw some comment, may have been on ths board, that they may relist then be taken private immediately. Nothing would surprise me to be honest. All I know is that Luke Johnson nearly lost a huge sum of money on this, and that he will be pretty hands on when (ok, if) it returns. That is why I am interested, he may not be popular but he seems very capable. This seems to have happened when he was spreading himself to thinly.
As for Grant Thornton, yes they should be taken to task. Does raise the question why KPMG dont face similar censure over the Carillion collapse, a far larger failure. A cycnic might suggest that GT maybe havent got the same political friends?
They should lose their license to audit after this fiasco. Absolutely disgraceful, and they even charge for it???
Why are there absolutely no RNS updates for shareholders? Gives the impression the shares are not going to come out of administration?
I've been wondering the same, as I am a potential investor as I have previously stated.
I believe that it will be relisted but not until it is clear exactly what has gone on,the financial position confirmed and maybe the results restated. I dont think they can relist until they know it is a viable business and that no more surprises will come and bite them on the bum.What they dare not do is risk any further scamdal where investors (like me possibly) are lured back in and royally shafted.
On a lighter note I continued my market research with a visit to PV in Shrewsbury. No sign of the recent traumas at all, well stocked, superb cake and excellant coffee. Probably 20% more expensive than Costa but so much nicer. Justifiable given the wastage that they must have, and the daily restocking that must take place. Impressed
Any ideas ?
When is it trading again? Ever? Open in 2019?
Not even an acknowledgement in the RNS for his services. Possible that the ex CFO is singing already, and that May was the other signatory on the unrecorded bank account.
I knew that one May would go today!
In fairness there is a new CEO.
The old CEO was the other director who exercised and immediately sold share options in July (other than the dodgy FD that is). The old CEO had done the same in February 2018 too, seems for some unknown reason he wanted to get rid of them as soon as he got them......heaven knows why, not suspicious at all.
Still like to find out why the non exec deputy chairman sold over two thirds of his shareholding (not the result of a maturing share option scheme) in June. Could be innocent of course.
I see that the CEO has gone today. Non CEO, no FD and a black hole in the accounts. If only we could buy some shares, this looks like a great well run company!
Couldn't agree more about WorldGoRound.
Illiterate, ill-informed, illogical.
Basically, ill.
WorldGoRound
I have just read a selection of the posts that you have been putting on this and other boards for the past year.
I think that you should seriously question, for your own sake and sanity, why you are doing this.
I really don't think you should be posting such wild ramblings, that is just my opinion.
I am filtering you.
I very much doubt the FD was the only person in the finance area who know what was going on. This is quite a big fraud relative to the size of the company, he cannot have done this alone and covered up the facts for such a long time without collusion. However those who knew will largely have been subordinates in the company hierarchy and probably didn't dare to speak out. That makes me question the culture there a bit.
Is it realistic to assume none of the other Board Members knew? Seems very doubtful - follow the share sales, particularly anyone who sold the vast majority of their holdings shortly before events unfolded....
As Analysister asks. is this a fundamentally sound business model? It clearly wasn't as profitable in recent past as was thought, and that will be true at least initially going forward.
The result of the unpopular refinancing means that, hopefully, the company is currently on a sound footing. Wonder what investigative work they will need to complete before contemplating re listing?
As noted before one good thing is that the 'shenanigans' should have no effect on footfall in the stores - if anything then, like me, the publicity may even have prompted people to search a branch out and try a coffee and cake! I note from TripAdvisor that generally very positive feedback is given.
Think you will find that the FD and MD have granted themselves and cashed in millions of pounds. Will be interesting to see if the FD sings like a canary when in court facing a possible prison term and brings down others?
New PV investors took a bit of a punt imo as the discovery/share suspension/fund raising etc all happened between late on the 9th of Oct and the 12th of Oct. I would guess that the trade-off for little or no DD was the 50p offer price plus the cash that LJ also committed to the company.
IMO if the business model works this will be taken private soon as the public markets have long memories...