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All in my humble opinion of course.
Well, pleased you got out when you did Canetoad. For anyone thinking this is a good time to get in, I would think very long and hard about that. The legal services market is getting tougher, staff costs going through the roof, pressure on fees from clients and interest rates only going one way. Most firms have got fat with profits over the past 2 years that will enable them to weather a storm. This appears to be the reverse. I wouldn't touch this with Putin's *****.
Not underwritten and bookbuild at such a difficult such a discount with significant revenues and cashed up and new man at the helm this looks very attractive imv
looks like the climb has begun
It was double figures yesterday so if you can raise that much then it could be very quick
"Canetoad/erratum - The tension between you guys is sizzling! ... Time will tell who is right. Nothing else."
I was right, but as I mentioned at the time - 'being right' is *not* what makes you profitable in trading/investing, nor is it important to me. The most important thing is to keep losses small in relation to profits. Some here will have learned that the hard way.
Toomuch, when do you think that might be , timescale?
Double figures once bookbuild cleared
Really BOD - a 58% discount - a give away to the persons who could get them
Why no open offer ?? shocking
5.5 ? No thanks I’ll wait for 5.
Absolutely agree. Seems a no brainer at 5p
New CEO. Plenty Cash. Depressed price. Big revenues. Insurance money due back in.
Great price to buy at this level today @ 5.5p
Yeah, seems like a good price for a punt 80k over 2 buys at 5.5p
250k march spreadbet at 5.58.
See you next year!
Nutter's gone and I believe they will refocus on their core activity - legal services - which they are actually quite good at.
Question, how does a company that offers financial advice, and other financial services and they can’t get there own company in order,,? What am I missing, ?
I don't either but then I would have laughed if someone told me about the Arden deal - but they did it..
Don't see how it can crash when they've just cashed the company up long term at 5p with £8.5m. I would argue its already crashed 90p to 5p and we've seen the capitulation.Don't forget these guys have Cyber attack money coming back from insurance claim in Q4 probab,y a good £5m. Plus they have revenues almost £100m. Crazy really given how cheap this is now
To wipe off 90% of the value of a reputable long established law firm is quite a feat.
With a change in management and a raise at 5p however, makes this a compelling risk investment at 5.5p
It could crash out but now with the nutter responsbile for the Arden fiasco [unbelievable actions for a law firm, it may get back to what its good at and restore its position
Any positive spin today ramper?
"Adrian Biles as Group CEO has indicated his intention to step down as CEO and resign from the Board, subject to and with effect from the conclusion of the Fund-raising. From the completion of the Fund-raising (i.e. with effect from Admission) Donald Brown, an executive Director of the Company and the CEO of Arden, will take over from Adrian as CEO of the Group"
Adrian is gone mate... And new sole CEO is putting £1m of his money in at 5p. Can't ask for more than that for a turnaround play
Disappointing say that mildly.....disgraceful is more appropriate.....Adrian has to go, greedy and certainly not to be trusted.
I chuckled when reading the comment "The Placing is not being underwritten", given that Arden is doing the placing!
I just hope that they're not breaking any LSE rules by conducting their own public raise...
Cash is King! The analysis was SPOT-ON.
13 Jun 2022: " I'm old-fashioned. I like to see a balance sheet and/or trading update which gives actual levels of cash and/or borrowing headroom. To my knowledge, there has been no such update for months. I never said there had been any breach of any debt covenant. What I said was that they had (many months ago) used up almost all borrowing capacity on their RCF. Do you have proof about the levels of cash they have or is just your opinion?"
"@CaneToad. I am keenly aware there are many people on the board that know the company very well, but as you demonstrate with almost every post, you are not one of them."
Good news at least is that Adrian will be booted and Donald will be sole CEO for the turnaround play
Time to be bearish isn't at 5p after its dropped from 85p.
They'll have £8m+ cash in bank and Donald doing £1m personal money in the raise is a pretty good statement of his intent
Been bearish on INCE past 12+ months but i turn bullish today for the future