The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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That suppose includes X-O but think by the fCA rules all shares must be in shielded accounts - hoping so
Thanks for the reply RocketVI, and others, as shares are held by separate nominee company and cash covered by FCA comp scheme; then all should be OK. But see your approach as prudent and as you have erred on the side of caution think this is wise in this instance. So my cash that is not earmarked at present will be transferred.
This...
I've got 2 accounts with X-O as well....am wondering how safe that is?
I think they have to comply with FSC rules and shareholder holdings have to be in secure place. This is the kind of reassurance that should be coming from them in Company announcements not just seemingly dumb indifference as it appears
Taken My cash out Today as a precaution. Shares would be safe though. Not expecting this Company to collapse but price will fall a bit more so waiting for next RNS before buying into. LTH shafted again on what was seen as a stable Company not so long ago. Can see it being taken private or possible takeover if price is right.
DaveT1. Re your question about current market expectations, I found this site which may help. https://www.marketscreener.com/quote/stock/JARVIS-SECURITIES-PLC-4004704/revisions/
Possess no shares in this organisation but do follow it since I have two accounts with
Jarvis X-O. Concerned the way this is going are my accounts and my cash safe?
Got to have the money for a buyback. Any free cash is normally paid out in divis in accordance with the articles of association. As per yesterdays statement, more than £1.3 has been spent so far rectifying the probs and I reckon its significantly more - JHC (who supply the system) development costs would not come cheap! Mr Grant needs to come clean and give greater transparency of what exactly is/isnt going on, how many Model B clients have already been lost etc etc. The next AGM will be interesting as I already have a list of questions I would like the answers to.
Whatever -shareholders need to be compensated for the failure to be transparent
Something very unsatisfactory about the way the company is behaving towards its shareholders simply not communicating. Not wishing to add insult to injury but this is not good enough! There ought to be transparency and shareholders advised.
If Jarvis "can't" pay a dividend they should do a share buyback instead.
Very disappointing this. It's going on forever. I have an account with them, and looking at this it seems I'm going to have to go through the nause of moving it elsewhere.
Eps 11.8p
I hope the Non Exec who bought 30000 shares a year ago is as happy as the rest of us poor investors!
Suspect the FD who resigned last week did so out of frustration. Years of under-investment and corner cutting have finally come home to roost. Lets not forget the news in todays announcement is after a positive spin has been applied - when stripped to the bare bones I daresay the outlook is pretty dire. It is of course in the best interest of th FCA to keep the company trading..... for now!
Does anyone have a clue what current market expectations are or even were?
I think the FCA need to be investigating the share price shenanigans as much as anything else - then they can let us know what was going on.. in about 3 years time when it's too late.
Still doing business. Just a shame most of it is 'insider' business and as usual the PI's are the ones that lose out.
Poor communication and disgraceful manoeuvering for a company in a privileged position.
Oh Dear.... Was looking to buy in but there is definately some bad news coming. Probaly want to take it back private so want S.P. as low as possible. 35p ?
Shares such that the total holding held by the Grant Family Concert Party is 23,651,750 Ordinary Shares representing 52.86% of the issued share capital of the Company. The remainder (less than 48%) don't have a say in the next steps of proceedings.
Looks like this is the end of the road for Jarvis. Some bad news coming - No dividend/restructuring/fundraise - and maybe they will take this company private?!
I have an account with Jarvis but have reduced my trading with them because of the capital gains tax allowance reduction. Mainly use My ISA & SIPP for trades where there is a good chance of making a few £k so that I dont get taxed on anything over £6K profit. Jarvis will continue to suffer customers using them due to this Governments policy of punishing investors sucess.
You've always had to have cash in your ISA before you could deal, and a lot of people with smaller investment pots use their ISA account rather than nominee...
Their website is still saying that the "latest announcement date" for Q4 numbers is 9 November but no RNS yet today.
I think that because Private Investors are no longer able to trade without the Cash being in their account Jarvis's annual turnover will be greatly reduced. We were always able to trade instantly & pay within a period of up to 20 days. NO LONGER!
Bit of a recovery today
Expecting Q4 update by 9th November, no option but wait and see.