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Pip
Have to say your logic may well be 100% correct. Abd yes there exist strict timelines for Director et al buys. Aim or not.
However you look at it Turner increased his holdings. Other Durectors filling their boots may be a pointer on the upside. Time will tell.
HC
The reason I asked the question regarding Turner is that as a director he is in purdah until the EOY results are published. As a person with inside information he can not be 'in action' with regard to buying shares, discounted or otherwise. I am unsure about the rules - whether it is 60 or 30 days before results are published - but he is free to do what he wants after they are in the public domain.
I think the sudden cluster of Director buys in late February/early March was the threshold. On reflection it is entirely possible someone made an error by allowing those buys to go through. It would explain the delayed results announcement? There is no way for the results to be released on 28 March if Turner (and his associates) were buying shares on 8 March - 'tis against trading rules.
Pip
Good bit of detective work lets hope we get a positive although delayed updates don't normally bode well.
Ji
Good to see your hanging around and if you do reinvest hopr it works out. My point on Turner was he's only interested in the EV possibilites that he will need in Bayford forcourt business. Normal installs, sure he's not interested, but one part of FCRM is needed for EV to be a stand line. EV stations are going to be a fact sooner rather than later and my guess is the Government will offer huge 'hand outs" to installers. Bit like wind farm subsidies of past.
Lets hope the upcoming update has good news.
All theory but optimistic.
HC
I received a reply confirming. The text:
"We’re expecting to announce our pre-close trading update towards the end of April this year. This is a change, to move it more into alignment with how many other businesses report their trading updates, but we appreciate that it is later than our historical reporting".
It goes on to confirm the financial diary will be updated when the date is known.
I agree. Like someone is pulling the shutters down. What was previously transparent is now opaque.... not a good thing?
Expectations
Not so open now.
No PR.
Hi Jl. It does seem rather strange. 31 March is most definitely the last day of trading for FCRM. EOY trading updates have been released every year on 28 March (since 2015) and they include the date when full results will be published.
The FCRM website states: "The Group communicates with shareholders through the Annual Report and Accounts, full year and half year announcements, the Annual General Meeting, regulatory news and one-to-one meetings with existing or potential new shareholders throughout the year". So to my mind a full year announcement is now late. AIM states a trading update can be held back where there are background activities that might impact on the announcements content (I paraphrase) however there is a balance with keeping shareholders informed and confidentiality of inside information. Information should be released if there is a risk of the confidentiality being broken. Hence my enquiry to Trader that "Turner is in action" - what does that mean and how does he know?
The FCRM Financial diary has never been updated or maintained on the website. I have written twice to the company and asked for it to be updated.
I did not receive a reply to my first e-mail last week. I have now written to the CEO - Dugdale - and asked for a reason why the EOY trading statement has not been released and no explanatory RNS either.
Like I said it is all very strange. If no reply by Friday I will phone the FCRM Head Office.
Sorry Pip
The was nothing in the financial diary about a trade update - an no RNS.
Turner in action - how do you know? Evidence please...
No trading update and no response from the company to my e-mail enquiring why, given it is the end of the trading year. Even if Turner was making a move the requirement to report normal business remains. Out of interest, does the failure to deliver a trading update constitute a breach in AIM regulations? I need to do some research.
Harry
I know i should not comment - but as a potential reinvestor i can.
This was going the right way - til Harrison borrowed money to buy assets - but he should not have - gain small
Phil with or without harris decision to sell to cover the silly borrowing.
Mafia in - Harris out and phil out
no divis
Critical part of Coy Dunamis -- Turner surely not interested in house utility supplies - just needs the know how.
IMHO - PIs shafted til turner gets his way.
Did u believe Cameron Blair or johnson.
IMHO just a demerger and then a sell off of utilities.
Get real
What's the theory behind 'Turner in action again'. Logic suggests on SP drop he will keep hoovering up distressed sellers.
With Biden plan to build thousands of EV charging stations across the US we must assume Boris will have similar plans. If only for this reason FCRM remain a cheap play in the UK EV charging network. Hence Turner wants control on the cheap. He will likely succeed in time just hope the SP ticks up before that happens.
All theory of course but I remember when Bayford started their bookbuild and others said no way they will bid. Time will tell if they attempt again to get control.
I still hope some big VC will get involved and outbid the Turner gang.
HC
Apparently Turner is in action , expecting a RNS soon.
This paragraph was written into the last Annual Report:
Why We Engage
We aim to provide clarity and communicate with transparency to all our shareholders
*To provide clarity and secure support for the strategic plans for the business
*To keep our shareholders regularly updated on our progress and performance
Pretty ironic that I have to quote it back to the company in order to gain some semblance of insight into when they will post a trading update. What a shambles...
@jl5006 Thanks, I am new to this company. Interestingly, I wanted to buy X shares, but did not realise HL bought X pounds for me, could not sell the extra on the same day as my employer has a 30-day min holding period policy. So I intended to have a small position but it's bigger than I wanted to, hopefully I will not lose too much money here. I usually dont invest on <£1B companies.
I think this company has great potential, little bit puzzled by why management changed so quickly. I dont know what it's coming, but finger crossed!
Sorry trader
The previous chair was an advocate of a progressive dividend policy. He sort of ran the business after Donnachie and was keen to keep investors aware.
The now CEO was the COO : Coo appointed some months ago : CEO left : Chair left and that position represented by another new recruit and the CFO again in for a short while . Any BOD would want to wait for assurance - wouldn't they? - given they are all novices in their current positions.
@jl5006 sorry what do you mean , What BOD want to hide from us you ?
Pip
I see you are still hopeful - of an update.
I think you may have to wait a while since - IMHO - none of the BOD will want any disclosure until the auditors have been in.
Previous EOY Trading updates have been released on: 30 March 2016, 28 March 2017, 28 March 2018, 28 March 2019, 1 April 2020
The last of these on 1 Apr 20 was, like all the others, released midweek hence the slight delay. No such excuse this week because it could have come yesterday or today.
Well nothing has happened! No trading update has appeared... it's like 2019 all over again when we just stared into a black hole until the delays in reporting were announced.
For the second time in 6 months I have e-mailed the company and complained about the lack of transparency and their failure to keep shareholders informed. The FCRM Website is not being kept up to date and the financial calendar is blank. After my last complaint they declared the date 2 days before it was due and then just as hastily took it down.
I have asked they confirm it was due today and why it has not been released. Hopefully I have made a mistake and all this hot air and gnashing of teeth is misdirected.
It drops a little bit every day to the price that Turner can buy more on cheap . Hopefully indeed a good update sends it back to 40+.
Well I think this is the week when we should get some transparency on what has been happening. Although the FCRM website gives nothing away my interpretation of past RNS releases indicates the EOY is on 31 March.
On Wednesday morning we can expect a trading statement and a corresponding sp movement depending on the content. It's difficult to call either way. The BoD made purchases before the time bar, suggesting positive news, however the sp has been stuck in the doldrums suggesting there have been no leaks and no appetite for speculation. Goodness knows what gems will be revealed...