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Agree with Jerry. I would not rule out another placing, which will be at a discount to the share price, so there is no point in supporting the price by making purchases in the market. I think at least another 12 months before this turns round.
I suspect the main potential buyers of this are more interested in injecting capital into the company if/when it needs it in order to protect their prior investment. Actual purchase of shares in the open market isn't going to make much difference to the company itself at this time.
Dear All,
Meanwhile, over at IQAI, we seem to have a problem with the BoD. The problem seems to be the same one that you are having ...
I have now had interesting conversations with fellow "whistleblowers" re: the IQAI problem.
Thankfully, IQAI is "main market" and therefore more accountable ... and the SEC (USA) in particular is more prone to investigate any claims due to this. IQAI has USA-based BoDs.
Just to note, I am not a sizeable investor in IQAI, I just don't like to be treated with disrespect ...
Is there anyone here who has the time/inclination to chat through your BRH problems with me?
Please email me: iqaicomplaints@gmail.com
-- BB --
While I can’t explain the slow decay of the sp, from the information given out, I don’t agree that it’s a dying business
There's no big mystery is just a dying business
What the hell is going on with this stock.
Thanks Trek.
Won’t be making a complaint, just an observation that the notification seemed to be late.
I mean, the 9 May RNS made it clear enough that Trevor Brown WA buying 3.5M shares in the placing, but gaining an interest in 10.1M. It said it in two places. It's not hidden really, though sounds like they should have reported it quicker.
The notification for crossing is….. DTR 5.8…
“ The notification to the issuer shall be effected as soon as possible, but not later than four trading days in the case of a non-UKissuer and two trading days in all other cases, after the date on which the relevant person:”
https://www.handbook.fca.org.uk/handbook/DTR/5/8.html
You can quote that in your complaint
To report a late TR1 is straightforward. You just fill out the form at the bottom of this link and send. It’s really that simple.
https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual
Not saying they will do FA but at least it puts it on the radar!
Usual caveats
Trek
Dunno JS
The 3 prints today look to be purchases, I think one of the MM's has just slipped off the bid to try catch a seller, to cover the book lower down.
Awful out there today.
Classic drops below placement price...
derisk or grin and bear??
tp 1p for oversold bounce, perhaps
Yes, I think they probably are.
I believe it’s still a positive that the Brown family has purchased the shares. They must see some profit to be made in the short/medium term.
This just looks like part of the placing of new shares.
One thing I have noticed is that FAB crossed the threshold on 15 January and notified today. That seems like quite a delay. Off the top of my head I’m not sure what the rules to notify say, but 6 weeks seems like a long time.
FAB has an interesting history. It’s not an investment company per se, however, in this case it does seem to be being used as an investment vehicle for the Brown family.
I think it’s pretty clear that TB is pulling the strings being FAB and he can’t add to his holding so he’s using FAB to achieve an increased ownership of the company.
Naturally, it does raise the question as to why TB would take this course of action if he doesn’t believe the company is going to become successful and earn him a decent return on his investment.
Maybe TB is very confident in the business, or wants voting bloc power (to say no more raises?), without breaching 30%.
But whatever reason, it's because he thinks there's money to be made at these levels.
Companies House shows that TB and his family are linked to FAB…..interesting move
It's Trevor Brown's family..... Which raises even more questions. Obviously he doesn't want to go over the 30%holding.
Interesting holding in company.....
Can't blame them! I'm holding on in here, hoping (perhaps foolishly) that the company becomes leaner and more niche as it moves forward. 2024 is a make-or-break year for CMH. GLA
Looking at the trades this morning perhaps someone has had enough
For what it's worth with TB Braveheart and IQAI offer an insight his typical MO, their offerings are nebulous enough for him to be able to routinely tease jam tomorrow, offload shares at a premium, buy back when bombed out or via placing when they inevitably fail to deliver, rinse repeat.
He bought in here flush with cash from RMS/Braveheart perhaps with a bit of nostalgia plus invincibility believing he could rescue it after BorgWarner pulled the plug, and to be fair he has given it a decent stay of execution with a fair bit of financial engineering.
Beyond that the challenge is having bought in he can't use his usual jam tomorrow trick because the products are too tangible, there's no medical breakthrough implied in the near but never quite reachable future, nobody is going to get overly pumped up about iron castings. So he's a bit stuck and for once it's him that's fallen victim, just to himself and a case of sunk cost fallacy.
Indeed Dartron.
Here's hoping!
Guys, I dont know that much about TB, but from my searches and looking at his other investments, I think this is a small part of his wealth. I will say that he has deployed a significant amount of cash here - and that is where my confidence comes from. I think this investment has been more difficult than he first anticipated, but the important thing is that he is still supportive. I expect he has great sway in the financial engineering (his speciality), but I doubt he is running the works etc. He is still is the largest share holder. I expect the sale and leaseback, and the building up and selling of Petrel were his plan to recover the finances. In the middle of that we are having a weak economy, higher interest rates and a bear market where you cant raise equity.
This company must have at least 30 employees, and huge out goings so that is where the money goes. Think of it as a charitable act, keeping a few folks in jobs going. Lets hope Karma rewards us for our kindness.