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Interested due to the drop but I see they booked c£6m loss for the 6 month period ending January 2020. £12m losses. Great contract of £20m+ but at around 23% margins. What’s any ones thoughts here?
This was from JW in the last trading statement: "Our current focus is absolutely clear: to convert opportunities to contracts as quickly as possible and increase organic cashflows so as to be in an annualised cash break-even position by the end of the current calendar year." I understand we are on track for break-even by financial year end (31st December), so I think this is panic selling from retail investors. If institutions bail, then that's different. Ride the storm, bail or take it as an opportunity to reduce your average. I am riding the storm, although I have hovered over the sell button on a number of occasions.
I guess the worry is if they don’t book another large contract then it’s c£5m revenues at 25% margins. Very poor. But if they get another or a few bigger contracts then it should do well
Someone made the point the other day that JW is now in a closed period hence no more director buys so I wouldn't be at all surprised to learn of 1 or 2 contract announcements shortly
ban4118 ref 13.17 post As INFA in breach of the AIM rules has not updated the list of significant shareholders in 10 months we are unable to say definitively that institutions have not sold any shares. I can only presume that they are waiting for AIM to fine them before they update the list.
stokey12,
Exactly. The refusal to update the list of significant shareholders, in blatant breach of AIM rules, can only be explained as an attempt to hold back the tsunami of selling that would/will be unleashed when it is made public who has sold out. That is on top of the already disastrous share price performance in recent months.
Might be of interest
https://www.sharesmagazine.co.uk/shares/share/INFA/director-deals
https://www.sharesmagazine.co.uk/director-deals/director/1347/john-wood?dealId=200289
It is the shareholders responsibility (whether individual retail or institutions) to notify the company NOT the company's responsibility to check who holds what and who went above or below each threshold percentage point 3% or above.
So if none of the major shareholders declare to having sold and gone below any relevant percentage point when they in fact have that is NOT the fault of the company.
In relation to the claim that they haven't updated their website in 10 months the same can be said for numerous AIM listed companies when it comes to keeping an accurate picture of the percentage holdings of major shareholders and it happens all the time. It ain't no big deal in the grand scheme of things but the company WILL always make public immediately if they are notified by any holder of change in their shareholding that requires notification. Therefore we can assume that so far there have been no changes since the last holdings RNS.
Now 17p to sell 17.25p to buy, hopefully that's the one and only time we see the price in the 16p range....
mcadder,
You are pre-supposing that no shareholder has informed the company of a change in holding; it is the company, after all, which notifies the market.
Is it likely that there have been no TR1-notifiable changes in the last 10 months?
BP - the only thing I am 'pre-supposing' is that as and when a major shareholder sends them a TR1 notification that they are duly making that info public straight away. We have no reason to believe they are not. There have been numerous holdings RNS's released over the last 10 months. It is still the responsibility of the shareholder to make the company aware of any change. It is the responsibility of the company to keep the website updated in an ideal world but as I see all the time this rarely is the case. But the main thing is they have complied with AIM rules by making any holdings RNS's public as and when they receive them. The fact the website is not up to date is neither here or there. The main thing is they have kept the market up to date with the RNS's.
Hmm might have to buy in! Big old spike in volume. News coming?
mcadder ref 14.04 post I agree that the shareholder has a responsibility to update the company through a TR1 if there is a relevant change in their holdings. However, as far as keeping the list of significant shareholders up to date this is not an onerous duty so it should be easy to comply. There are two groups of people who are likely to find this information of importance. Firstly, anyone planning to award a tender would want to know who the main shareholders are. While they could obtain some of this information from companies house filings this would not give a complete picture. The fact that this information is not up to date might trigger a red flag. The second group would be a shareholder wanting to table a motion at an AGM or EGM they would use this information to reach the 5% threshold to get an item on the agenda.
As and when the list is updated I do not expect to see any rush of selling but there might be a few changes in the list of significant shareholders.
bunsenburner123 Ref 15.16 post may also be a reaction to the Times story which names INFA as one of three companies in line to tender for the £150m contract to build the new flagship.
A quick question guys. H and W large waterfront land holding in the centre of Belfast , do we know if this is freehold or leased?
Schlum ref 08.36 post the Belfast site is leased from the Belfast Harbour Commissioners. I stand to be corrected but I believe that Appledore is the only site they own the Freehold of.
My understanding too stokey12.
Same here. Had confirmation from someone, "in the loop", on Tuesday that as far as they could find out they indeed own the free hold to Appledore.
Thanks guys. I do hope we start to see some positive news here soon.
My holding here has a special sentiment, as one of my first memories was watching the launch of the Canberra in Belfast.