Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Popped into bookie early last week to have a few ££ on United to beat the French mob. Will pick winnings up today. Even though it was early the four machines were occupied with two other punters waiting. I watched as they gambled something like £140 a spin between them. One bloke lost £700 as I watched. That is all stopping soon and maybe the directors know where the profits really come from. Not the virtual racing...all just noise to keep punters playing machines
Good point fiji5.
Can't remember where I read it, but it was opined that of all the execs buys or sells those by the CFO were the most indicative and telling of the state of a company, but generally the 2 most important exec buy/sells revolve around both the CEO and the CFO as the main two "in the real know" to the true state of a company.
So execs such as the chairman buy/sells are rarely indicative of anything.
And also if a cluster of execs sell or buy in the same direction, in the same time period, is the most meaningful of all, and unmistakeable. A cluster being 3 or more. So if the CFO makes a significant sale next week - then we're all toast! :)
I read that the new CFO bought in December. 100,000 I think. Has he bought higher than that, before or since? (trying to acertain if his amounts are significant, although 100,000 shares can hardly be termed 'token' can they?)
So I suppose if the CFO bought a significant amount in the next week or so, while the price is on low offer, that would be the green light (assuming he's got loads of spare cash lying around that is :)
some of them very big , in fact in millions .( Well we do not know if they were buy ) . I think there is nothing wrong with the company .
If it was to institutional investor , we would like to know who was it .
No do not agree .
from here. Directors have bailed out big time; they musy know what's coming and it isn't anything thats going to lift the share price.
Want something with a tad more positive spin (maybe) on today's events to maybe lift the spirits?
Bits from the FT -
" The directors’ sell-off prompted speculation that the pair were looking to move on from the company but a spokesperson for GVC said that the sale was done to “satisfy an institutional buyer”.
[[ Hmm. ]]
The company spokesman pointed out that Mr Alexander’s holding in the company as a percentage of his salary — even after the sale — was still eight times more than the average for industry chief executives.
[[ Hmm again. ]]
Mr Alexander sought to reassure investors about his and Mr Feldman’s position, saying in a statement: “We have both held large personal shareholdings in GVC for a long time and continue to do so. Both of us remain fully committed to GVC and, whilst I continue to have the support of our shareholders, I’m here for the long term and at the very least I have a current plan that will take three plus years to accomplish.”
A person familiar with the matter said that Mr Alexander was committed to bedding in the acquisition of Ladbrokes Coral. “He’s still got skin in the game,” the person said.
[[ Not going to say 'hmm' again. ]]
According to tracker only 1.34% with a recent smallish change. Not significant but the director's sales are. I only have a small holding now having second thoughts about reinvestment
From Pro Active Investor:
" On Tuesday, GVC Holdings CEO Kenny Alexander offered to bet me £10,000 that he'd get the betting group back in the FTSE 100 within six months. Perhaps I should have taken the bet: shares down 15% after CEO and chairman dumped almost £20m of stock
— Dominic Walsh (@walshdominic) March 8, 2019
Bookie GVC Holdings PLC (LON:GVC), down 16% at 577p, and that man Russ Mould, who is paid to have opinions, has a view on this as well.
“There is a widely used phrase in investing that says ‘follow the money’. In GVC’s case, shareholders are following this advice to the letter as the gambling company’s share price dives amid news of hefty share sales by directors.
“Chief executive Kenneth Alexander has sold £13.7m worth of stock and chairman Lee Feldman has dumped nearly £6mln of his personal holding. Investors are clearly spooked by this news and are also selling down.
“The two directors have pledged not to sell any more while they ‘continue’ at GVC. Investors may have read that statement as implying the pair aren’t going to be around that long,” Mould suggested."
Cheltenham next week Busy time for the regular punters so already cranking up a few ante post bets on Paddy Power and Bet 365. Like most years I dont expect to emerge the other side of next week in front A bookies dream client
Only very rarely now visit a shop I can't remember how long ago I bet online with Ladbrokes
I can't really remember why I stopped probably enticed by an offer elsewhere
What I do know is that they have never tried to get me back or written to me to close a dormant account ?/
All a punter wants to be is feel loved !!!
My understanding is that Ladbrookes has the biggest exposure in the UK to a cut to £2 FOBT stake. I do not know the cost of shutting thousands of bookies. GVC is also the most invested in the USA market with the MGM deal. I get the impression the company is betting everything on the USA market and has abandoned any growth in the UK or Europe.
Looking at the balance sheet its current liabilities exceed its current assets. It has 2.2 billion of debt against a 6.1 billion intangible asset. Mostly Ladbrookes I suspect whose value has almost certainly fallen.
Although it made a reported loss last year it is highly cash generative.
Directors do not sell in a depressed market like this unless they know something is not right. Obviously they did not see the price going up to £10 a share in the near future at all. My guess is that they have knowledge that the USA is backtracking on its commitment to open up the gambling sector. This with the heavy debts of GVC and the £2 FOBT could be catastrophic.
No, just a b'stard taking the pee
Few more....GLA
Velo - a rather simplistic and pessimistic view with respect, time will tell but as I said I am not selling here just now.
I should add that Kenny's £20m includes not only his salary but all the entitlements as a total compensation package. It's not £20m salary then share save schemes added. £20 million is the total "compensation" as CEO.
This is about to bounce hard imo. Totally overdone
"There could be all sorts of reasons why they sold, "
- Of course there is; as they see it, they want to invest the proceeds in a far better investment than where it was currently sitting.
Whatever you think that's the only reason. A better place for their money.
With a £20 million renumeratiom package per year Kenny has no fear of wedding, swimming pools, tax or new house expenses.
I get the fall, never good to see Directors selling in large volume, but can't help thinking this is a bit over done now. 6% return on dividend at current level. Still have USA opportunity and results were pretty good. There could be all sorts of reasons why they sold, not necessarily concern on future. I do believe this will rise back up slowly over time and certainly am not selling at this price.
Geezus can't stop feckin' swearing! Feck! Feck! Feck!
Just had a text from a mate asking what's going on as it's headling on the BBC business news.
Beggsie (sorry ment Kenny, not the wee Scots thug from Trainspotting) has mugged us! Just like his alter ego Beggsie!
All the past growth was built on debt so the two top dogs know when to reduce exposure.......
It's not as if Kenny needs the money. He gets paid an annual salary of £20m per year - every year! He's always paid himself an obscene amount - then there's the free shares awarded to all of them. Nothing much said over the years as investors were rewarded with big divi's and SP appreciaton, so much so that Kenny achieved guru status with investors, and put him beyond critisim. - And has always even back in the AIM days paid himself more than many/most FTSE CEO's!
Nice number “666”, the broker did that on purpose! Not a good sign given that the directors could have held for £8 - £10 if things were really rosy. Does that mean, Private investors bought those shares since it wasn’t placed with iis. Market always rise or stay flat if the shares were bought by iis.
Ah yes thank you. Well someone must have been happy to buy at 666p