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based on todays RNS will there be a counter offer from WSP ? Any comments ?
The numbers from todays results look decent but I think given the present company valuation here I think its a fair price now, was considering buying in here but instead have bought some more this morning over at SLP. That is undervalued big time. Will keep a close eye here for further news, but good to see management going in the right direction here.
A contract for Glasgow University campus worth more than £1 billion? (see Building magazine)
Blue across the board, c.16% rise and not far off 3 month high - have I missed something...?!
Sale of the APAC businesses on it's way to dispute resolution, but we're dealing with known sums / risk, namely the C&B & CSG valuations, the latter having already conceded a reduction - I expected a wobble, but the SP seems to be going South at pace - am I missing something? (wouldn't be the first time...). The driver behind the timing of the C&B revaluation notice i.e. landing just after sentencing by the SFO is clearly a commercial one given both companies compete in the same marketplaces, but it the SP reaction really deserved?
Outcome confirms company will have a stable future. There was some risk in the price that the fine was going to be so large as to destroy all company value. I'd expect a run up to 50-60p now which is were it was before all this started
#CSG fined £1.4m & had £850k confiscated for Middle East Bribery admission of guilt & the feckin Sp goes up 24%! LoL http://www.bloomberg.com/news/articles/2016-02-19/sweett-group-ordered-to-pay-3-3-million-in-u-k-bribery-case
Can anyone explain why the price has been rising over the last few days? It seems a few are buying but I can't see why other than the outcome of the SFO may come on the 12th Feb. And the outcome could be anything
Measured view indeed PP. Surely the SFO is not in the business of taking out small uk companies. A firm smack on the wrist perhaps for arguably the lack of appropriate checks and balances in foreign lands, but if individuals are determined to carry out acts of deception why penalise the hard working and law abiding majority. This company has actually been penalised enough already given the costs incurred dealing with this and the unjust damage to reputation
SFO: 'Sweett Group PLC will be sentenced on 12th February 2016 at Southwark Crown Court.' Given Sweett's has already spent £3m on it's own investigations and the individuals responsible have left the company here's hoping for a measured view from the courts on the size of the fine. Having said that, there's no monetary cap for fines for this type of conviction and it's an unusual case i.e. only the 2nd conviction I believe under the new Act and Sweetts being the only AIM traded UK QS firm - it's anyone's guess...!
CC This seems like a very sensible move by Sweetts. The cloud hanging over is removed. I cant see how the fine could be too significant - it would seem unfair to penalise the 'whole' company for the actions of a rogue individual located in a satellite office. The media have completely over sensationalised this, why let the facts get in the way.... The exist from the Middle East is good news also and presumably the proceeds should help reduce debt even more. The cherry on the cake is the focus back in to the real money making markets of Europe and North America. 18.5p is very very cheap for the potential here. CD
Let's hope the fine isn't too great and the business can then move forwards. http://otp.investis.com/clients/uk/sweett_group/rns/regulatory-story.aspx?cid=801&newsid=617524
Thanks for the link. I genuinely don't understand how it can take so long for the SFO to establish what / if anything occured. Either a payment was made by Sweett Group, or it wasn't. Surely a forensic accountant would be able to spot such a payment relatively quickly by auditing Sweett's accounting and bank records, not seventeen months in. Until this cloud passes over, the shares will tread water.
yep looks like they have charged someone now... http://www.sfo.gov.uk/about-us/sfo-updates.aspx
Still a cheap share only capped at 13M, should have much further to go as it focuses away from the APAC venture and now with extra cash in coffers.
Possible confirmation of the sale of APAC and India businesses? ...Also, 3 x the average volume today , mostly buys... .....Plus a delayed 65k trade from last Friday, that looks like a buy? Watch this space, Sweettie Pies ;-D
A year to the day since the SFO launched their investigation. There should be a time limit whereby they must present their case, or call it a day.
This is a good company and I have great faith in them. They are moving forward with new people and I think there are lots of positives here. As always a total over-reaction but just what I have come to expect. Pity you've sold out because I believe that in the not too distant future the current prices will look very cheap. GLA.
...Most ( but not all? ) of the past misdemeanour's now revealed! 'Glad I sold the majority of my stash...just 1,000 left in my Hot Ducks Divi' Portfolio... which is deeply ironic as they have scrapped the Divi' . LoL Mind you, things do look like they will improve going forward ( there, I said it! ) so 'unlikely to be able to get at sub 15p level again. GLA & Best regards, Blue
I see that there was 2 large buys reported today from Thursday. One was for 699,000 and the other for 750,000. Someone obviously has great faith in Sweett and rightly do. It is way undervalued. Let the good times begin. GLA.
Sure to be 40p soon.
Anyone got any idea to the cause of the recent fall? No doubt we'll bounce back pretty soon but was surprised to see this movement
It's now almost 12 months since the SFO launched their investigation, which is hanging like a dark cloud. There should be a time limit on such investigations as the only losers are the shareholders.
35p next stop@
Coming up any Jolly day now... Sadly all the previous chat seems to have gone AWOL... Admin' can you sort it out please, thanks