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This could be given away soon ; nice little present for people on the board .
Not selling as I hung on at Hurricane . Did not have a large holding there or
do not have a large holding with this Fulcrum Utility but hate to get done .
Is there a way to get rid of this ineffectual board of directors ?.
BOD - wrong terminology
Another c 500k acquired - unknown-
BOD so dishonest it makes no public statement relating to its share demise.
I'll say straight away that I'm not holding here but I was invested for a period a couple of years back.
I was very luck and managed to sell for a break even at 33p having originally invested before the accounting error was uncovered.
To see it at 13p does make me feel sad for a those still holding this.
Although i'm sure its of scant consolation I do wish you the very best of luck
Ji
You may be correct. SP still on the slide even after RNS. Off balance exceptionals and specials like trade/shareholder spend are what exactly with no clear explantion look like smoke a mirrors to me. This just looks like Thus another Nat Grid spin off.
Daily trades volumes are odd. Buy/sell trades up and down like a jack in box. With major holders upping their holding other than Killik its again odd to see the SP tank daily. Set a stop of 10p. Might get there at this rate.
HC
Come on BOD give us LTH some information . It is obvious this BOD are all a waste of money ; If you are just incompetant fair enough but do us all a favour and clear off .
HC
Something really wrong here.
13.5p
Some dark secrets will emerge.
I cant believe there is another accounting error.
It seems Tuesday trades were a bit odd. Sell 25K + Buy 106K. Unusual for an unloved share like FCRM. Any theories??
HC
Yes PIP.
The BOD is bereft of ability . The business has gone to pot.
capability went when a COO was promoted to CEO and an unknown set as CFO.
Lavelle is there for a purpose.
This should have flourished - guess antagonism between Mills and turner.
Y have Killick increased holding?
BOD purchases mean nothing - not real and useful appointments.
14p FGS
Harwood's tender offer was 26.25p just as the sp was bouncing from the pandemic reaction sell off. At that time it was considered a cheeky offer given the pre pandemic strength of the company and the perceived rebound taking place. It's a bit different now. With the SP sub 15p and trending downward they might succeed at 20p. However Cutler (CFO), Lavelle (Indep Dir), Babbington (Chair) and Dugdale (CEO) are all significantly down on their purchases (at current sp):
Cutler: 25,000 for £6,525 currently down by £3,057
Lavelle: 100,000 for £30,705 currently down by £16,835
Dugdale: 25,000 for £9,921 currently down by £6,453
Babbington: 25,000 for £9,984 currently down by £6,522
So they are all losing money and are unlikely to see a return until the sp get back into the high 20's. That said, with the exception of Lavelle, their 'buy ins' are hardly a ringing endorsement of their conviction towards the company. Now is the time for Dugdale & Babbington to double down with a hefty buy. It's called leadership and would do more to steady the sp than the silly note they put out.
Thank you for some highly informative information , very good of the contributors .
It should come good but rather unlikely I'm afraid so looking at a figure to take what is left
of our investment .
Not finished but posted.
Ok domestic EV is just a circuit. Part of the house system but will the Gov want 'off peak' charging rates so like the old Economy7 will smart meters not be a big factor. Moving away from.domestic to petrol station forecourts and supermarket car parks will I guess be the real cash cow. Thus part of the world we have EV in 50% of gas stations already.
I'm kinda bewildered by the SP today. Ok Bulb going bust has again spooked the energy market but FCRM ain't part of this sector they're just the infrastructure side or am I missing something.
Looking at past Director buys hardly gives confidence but Turner, et al, are losing money albeit I'm sure the tax breaks on Aim companies is a bonus.
This is a truly odd share. Should be 50p but now 14p and dropping. Whats the bottom. 10p??
HC
Ji
EV is going to be a factor for some companies with huge growth potential and the Gov throwing money at it. Away from domestic use which is basucally
I don't agree that the requirement to build in EV chargers to new houses is a multiplier for FCRM. EV chargers will just be built into the domestic circuit so no specialist knowledge is required. Multi occupancy dwellings are however a different kettle of fish. A high rise of 15 floors containing 50+ dwellings is going to require some clever use of real estate to build in the charger units that are secure and accessible for everyone. FCRM could benefit there.
I suspect the real money will come, as always, in delivering the servicing and repair capability 24hrs a day. I predict a future crime will be theft of cables/charging capacity & vandalism of charging units and this will be worse in high rise areas where vehicles are centralised and un monitored.
So from RNS it appears Harwood have increased to 14.21% (11.04) and Killik declined to 5.23% (5.65). These I guess are discretionary shares held for whom. My guess is they can be used by Bayford at 15.46%.
This is all theory but the update to calm the markets when the SP went sub 15p reads well. Revenue up by 44%, FCF no idea, profit looks to be zero at best . Debt up but that to me is just forward Capex with hopefully future enhanced profits. Present chaos in the energy markets really should not impact FCRM unless their acting as a reseller from any of the outfits that have gone bust but that's unlikely as outside their remit on infrastructure. Ditches, pipes, cables, etc.
With the Government saying all new houses will have EV capability this could be good for FCRM with the smart metering side of the business. Really no idea how much revenue/fcf/profit this generates.
All theory but see how the 2nd December works out for the SP given the news is already out there. My guess is Turner/Bayford will try again, not if but when, and get FCRM on the cheap and de-list. Offer price. On todays SP my guess is 30p would be accepted.
HC
This was on the 10th June.Name of shareholder Number of ordinary shares Percentage of share capital (%) James Sharp & Co 39,431,562 17.75 Bayford Group* 34,348,981 15.46 Harwood Capital 24,515,000 11.04 Killik Asset Mgt 12,545,716 5.65 Hargreaves Landsdown Asset Mgt 8,879,949 4.00Harwood are now at 14% +
Sorry
history was really good and promising
BlackRock was a significant share holder but it seems Harrison (CFO) went the wrong way and accounted for assets incorrectly.
He had become CEO..
He left
Mills a chancer bought in and teamed up with money turner.
There is no board with knowledge - turner wants dunamis
who knows about the rest which was indeed a promising co.
This was a spin off from National grid years ago.
Just like so many - money wants what it wants - shares were c 65p after Dunamis buy
WTF
It is pretty poor i just wonder if it sinks anymore they are as well shutting it down.
Is anybody there ?.
No information from this BOD ; what are they doing ?.
Killick above 5% - previously disclosed position per RNS - - nil what is going on?????????
Killick position as at May 2020 was 4.99% - so called discretionary clients.
Ji
Good to see your still around.
On the high volume sells. Could this be Harwood or something to do with the RNS on the 12th ref change of broker. Are some with the old broker just dumping their holding as a result.
RNS yesterday looked to reassure a spooked market given the SP dropped below 15p. Did it reassure. Mmmm 50/50 on that but clearly the energy market end seller market is in the toilet and this is making people nervous across the sector but this, as you rightly say, should not affect FCRM. Their basically the ditch diggers and control the infrastructure not the gas/oil/elec supplies.
Big winners in the present energy situation are the established players like CNA who are picking up customers and switching them to their higher tariffs
Debt is an issue but my guess is this is forward infrastructure spend with returns in the future. No different than Capex to build an oil rig for future oil to generate profit.
Anyway yesterdays RNS calmed the market for now and just maybe the jump in revenue is a positive.
Do I trust the Board. No chance with the likes of Turner around.
All theory. You have a nice day.
HC
Citing volatility in the power markets must be a smokescreen. FCRM dig ditches, design and build utility networks to connect developments, install EV infrastructure and, more recently install smart meters. The ups and downs of the wholesale gas/electricity price should not be a factor in what they do. Or am I missing something here? Nexus, a similar business, has offered no similar observation.
7 million sold - 1 million bought - as low as 14.5