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that 2m was what was shaken out of pis yesterday. i hope it is w black buying and not fab. tb's voting power needs to decrease, they have taken the **** with this.
I suspect the chap William Black having increased is holding recently is the likely buyer here.
But where is the stock coming from?
Most of the institutional holders are fairly passive, apart from Miton who has adjusted up and down along the way.
Two individual 1 million purchases yesterday and today.... Who is adding 30k to this?!
Still invested unfortunately but was hoping to be proved wrong this time regarding Mr Brown, as people have also made significant profits and losses in the past....
I think you're absolutely right.
It's felt off for some time.
Buy 29% and get the rest for a song when....... ( fill in the blanks).
Lets not be under any illusion that Trevor Brown is running this regardless of what title he choses. He is hands on and has a track record that proves that he is absolutely no fool and is very astute when it comes to printing money. He will be in control of every move and he continues to buy more and more shares either himself or through vehicles that are connected to him including recently. Institutional investors are continuing to buy these shares and increase their existing holdings. Again these people do this for a living and will be given access to inside info rather than the heavily edited headlines that we get. The big holders of CMH do not appear to be selling and are often buying more.
Why is he doing this ? The board ( Trevor ) seems to be on a mission to drive down the market capitalisation of this business by whatever means possible and today it stands just over £2m. Furthermore he is using every means possible to pay off existing legacy debts rather than investing in improvements or expansion or even decent sales people.
For me something dont fit and it seems there is a definite agenda at play behind the scenes here. I am reliably told that the Foundries are not as quiet as the RNS makes out and its business as usual on both sites with little sign of cuts to staffing levels except at board level where its long overdue.
It would not surprise me to see this taken out or broken up with either a management or external buyout or Trevor Brown making an offer for the remaining shares that him or his mates do not already own. The only thing I can be sure of is that we will be the last to hear about it.
I was led to believe the company was positively being turned around by management as outlined in interim results of 21 Feb., 2024.
I foolishly did not hear the alarm bells ringing with the announcement of Board changes on 5/4/2024.
More worrying now is: will some customers cancel their orders due to threatening price increases? Dire!
Time for the “big boys” to step-up to buy some shares and redeem a bit of trust for long suffering shareholders.
Lying Kevin Price, Chief Executive Officer of Chamberlin, commented: "I am pleased to report that operational performance in the first half of the financial year has been broadly in line with the Board's expectations. The current order books across all three trading divisions are strong and will support performance in the second half of the financial year. Therefore, the Board believes the Group remains on track to meet market expectations for the year ending 31 May 2024."
That was last trading update in January, and the one on December 3rd has similar bumf.....Lying CMH
Been a disaster, au revoir.
Pained me to do it, but sold half at a significant loss this morning. That RNS has really ###### me off! Left half in on the off chance this recovers!
About the story the investors in the placing only as far back as January were told. I am assuming it was the positive "everything's profitable, rising revenues" story rather than the s***show that is this mornings RNS?
How much more cost cutting can they do?
Even the way that RNS was written was unprofessional. Negative, positive, repeat negatives and add a little more negatives.
Kevin Price - cat in the headlights.
Not a great surprise, this business has been loss making for years, with cumulative losses of £10m+ even before we got on to this year being reported. It would have died back in 2021 when on brink of insolvency until TB put in money to give it a stay of execution. But for all his financial engineering he clearly forgot to check if they'd put up prices.
I'm certain there would have been a very good investment case for a UK based iron foundry during the Industrial Revolution. Now not so much.
Free Association Books bought in the middle of Jan, so right in the midst of the slowdown of orders. Why would they do that?
What I don’t understand is why They IIs have been buying? And, why an II connected to TB has bought? He knows the financial situation inside and out
Devastated! Very poor management, cannot be trusted. Angry is an understatement.
absolute ****show.
the last few rnss have been very positive and now, out of the blue, we get this utter ****e!
No words.
Same as all the rest of these piece of sh*t management on AIM.
FFS!!!
What a joke.
Literally undermines everything that has been said in the last 4/5 RNS. So much for 'in line with expectations' and 'return to profitability'.
Only now raising prices aswell WTF?! ... No wonder CMH cant make profit on £20m revenues.
Some fair and valid points Dartron.
I would say to keep an open mind about the CFO. This company has been on life support for many years, and he has managed to keep the lights on. This company has virtually no money, it had huge debt, pension deficit... While we are not out of the woods yet, I think we should not be so hasty to say he hasn't achieved anything.
I cant say the same for Kevin, and I had no idea that he was here before it all went wrong. Unbelievable that he would keep his job this long. I honestly do not know what he has contributed in the last few years?
The issue with the old board is that no one else would buy shares. Even Kevin Price wont buy any. That tells you all you need to know about the company. CFO leaving is concerning. Large sell may have been connected. The RNS should have been the other way round. CFO leaving is the big news. Typical Chamberlin burying things again. To say the board are a drag on expenses, maybe it is the other way round. Perhaps the CFO can earn more else where. I mean Chamberlin doesn't have any money to attract any talent (see above re Kevin).
I really wish the news flow had been otherwise, and I was able to sing his praises, after all I have paid his wages.
Strange how these folk always leave it same time.
Hopefully the CFO was shown the door politely.
I am going to take this as a sign that TB thinks they are now in a position financially where appropriate new people might actually consider applying /an approach to join the leadership team.
Ever hopeful...
My view is that all of us here are significantly under water. The SP has been decaying for some time, despite the positive outlook.
I’m not going to sell at these levels, so I’m all for the company getting some new blood in with some new ideas and contacts.
And as we’ve seen, IIs are keen to pick up available shares