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Looking at the FY18 annual report I haven't updated my list for Standard Life dropping out of the declared holders list. So adjusting for that I get the sum to just a bit below 100% as follows:
29.9% Sports Direct
18.3% Toscafund
17.3% Schroders
10.0% FIL
8.2% Credit Suisse
4.9% Henderson
4.5% R&M
4.1% Aberforth
Which adds up to about 97%. So still seems likely in my opinion that the above list either fails to account for a reduction in someone's holding, or there's some double-counting (e.g. might Credit Suisse's cash-settled swap be a transaction with one of the other holders?).
I think you are right 1GW.
In addition, I can't help but think that the SP been taken down to accommodate Credit Suisse?
If I add up the voting rights for the holdings notices I have in my spreadsheet, I now get to more than 100% with Credit Suisse having appeared from nowhere to hold 8.2%.
So I presume one of the bigger holders has been selling to them and we are yet to see the holdings notice.
1,000,000 shares at 200 pence just gone through.
I see this as no more than a concentrated effort by the market makers to increase liquidity. I am fairly certain that the half year results will be an improvement on last year so this tree shake is merely designed to persuade existing shareholders to sell in order to increase liquidity. We must remain calm and hold our shares and where possible add more. Remember, one our biggest shareholders, Schroders, has done just that. The share price could still go lower yet but don’t be tempted at these low levels to reduce, only the market makers and new buyers will ultimately benefit.
I topped up slightly higher but have been somewhate alarmed at the continued slide. if I wasn't quite so committed, I would be following you 1GW as on balance I think the market is behaving irrationally.
Fingers and toes crossed we are right.
I'm in the buying opportunity camp and have just added.
No idea what's causing the drop, which is a concern. There are a couple of new accounting standards which they will be adopting this year and which they referred to in the full year results - one of them appears to have the effect of halving net assets if I'm reading it correctly. But this has been known for some time so I don't see how we can peg the current plunge to that.
Volume doesn't seem to have been particularly high recently and given the low effective free float maybe some of the drop is down to liquidity if someone needs to sell a relatively small amount - but you would think one of the existing holders would be interested in mopping up small amounts on any material drop.
This is now either one of the best buying opportunities on the market or someone knows something rather nasty is in the pipeline.
This can only be market makers moving the price down prior to the release of the half year report. We know revenue is higher which of course should lead to an increase in profit before tax. £8.1m is the number that the company must beat in order to convince the market that last year was not just a one off. I sincerely hope we do not see the return of the dreaded exceptional items.
It looks like Schroders have a bigger sofa than I do and topped up accordingly.
How does the market respond ...drop the SP by 2%
Discuss.....
The share price was marked down in a similar fashion last year prior to the release of the half year report. The company has already eluded to the rise in revenue but the question is will the profit before tax exceed that of last year at £8.1m. Any improvement on this will send the share price up. Now that the legacy customer redress programme is near its end, will this free up some cash to pay us long serving shareholders a small dividend ?
Not quite sure what happened today but it could be time to have a dig around the back of the sofa and top up....
www.express-gifts.co.uk/careers
plenty of jobs here to Ejackson,the mad xmas rush,i dont really miss the long hours from the time i worked there.
Below is extracted from an interview with Paul Kendrick, MD of Studio. after the last RNS.
“We have employed 70 new members of staff recently, mainly in the IT sector and in merchandising roles. Studio’s eight per cent growth rate is brilliant, and we are hoping to top this next year”
Agreed 1GW. I would have thought there would have been some more activity too.
My sense is that the market has priced in the 'steady as we go' and 'no surprises' RNS and given the Board a platform from which the SP can push ahead off the back of a strong set of interim figures in November and I would hope, coupled with a 'trading ahead of expectations' statement with regards to the lead up to Christmas.
Glass definitely half full but with each solid RNS, there becomes a sustainable pattern of a well run company going places and if we can sign off on the customer redress programme without any further contributions, together with core debt being further paid down, things really do look very rosy.
I also caught sight of an advert for Studio which looked very good indeed.
I find it surprising that we're seeing a large spread and virtually no trades reported given we have news. Or does it just mean we'll see some large trades reported late(r)?
Findel’s pre-Christmas peak period has started strongly over recent weeks. Management retains its guidance for the full-year results and we retain our forecast of c 6% earnings growth. Past negatives, which have complicated the investment case, continue to be resolved: turnaround is on course at the smaller Education division, financial services redress is in the final stages and the balance sheet has strengthened further. We see no reason to change our valuation of 428p, which is c 60% above the current share price.
8% rise in what is the quietest part of the year,i will settle for that,achieve that year on year,we are laughing,cant really see brexit affecting the business to much as customers are more likely to flock to us with our current payment methods.
Yes, an unusually detailed RNS to announce the date at which the half year results are to be released. All very positive, unfortunately still six weeks away. Maybe my post results price target of 350 pence is more realistic than I had previously realised.
A good TU and one that gives us a solid platform for the all important run in to Christmas.
I like how they are managing expectations with a timely RNS leading up to the interims.
So that completes our first half year of trading. Now we have to wait until the company presents its figures to the market. Last year it was the 29th November. I am hoping our new look board will be reporting rather earlier than that this year. The share price has increased steadily in recent weeks but has now hits its usual resistance at 282 pence. I have raised my own price target, post half year report to 350 pence.
https://youtu.be/6irW2AYXUpA
year old but only just seen this,the business is looking quite good going forward.
never seen as many 1 shares buys in all my life,they are auto trades,so perhaps fat fingers,imho
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FDL&ArticleCode=pb5xtfvt&ArticleHeadline=Flawed_Financial_Services_Product_Update
also worth noting we should have nearly refunded customers a total of 29m quid according to this rns dated 29th march 2017,so no more nasty surprises we should be just fine,imho
...and it would be nice to think that news of Education having a good run leading up to the start of the new school year has reached the right ears...
I am very optimistic for the future.