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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.
This follows a 10% drop on Friday. Clearly, something is going on - and it doesn’t sound like good news.
The company ought to issue a a proper update about their intentions
Does the large drop today suggest that the "skilled person" report is finished and some have got wind of what is in it?
There is no Business Development Director - don't think there's been one for a couple of years.
Taken from Jarvis securities Web page.
Maintain governance structures and processes that are fit for purpose and support good decision-making by the board
The board of Jarvis and JIM comprises the same individuals. The two boards hold separate quarterly board meetings. The board of JIM maintain responsibility for the strategy, stakeholder relationships, regulation and financial reporting of JIM. The board of Jarvis are responsible for corporate governance, financial reporting and dividend policy. The key board roles covering both entities are as follows:
Chairman & Chief Executive - responsible for the strategy and for the day to day management.
Business Development Director – responsible for strategic implementation, on boarding of new regulated commercial clients, relationship management with clients and key suppliers.
Finance Director – responsible for financial reporting and analysis and CASS oversight.
Non Executive Director – responsible for reviewing strategic decisions made by executive directors and ensuring the board act in the interest of independent shareholders at all times.
In addition to the board, Jarvis maintains an audit committee and remuneration committee, the roles of which are detailed below principal 5.
At this stage the Company believes its governance structure is appropriate for its size.
There is no other side of the Group - Jarvis Securities is just the name of the parent company. It doesn't do anything at all so nothing for a finance person to do. More a case of Mr Grant wanting to surround himself with a yes man which is why they have got in this mess.
Maybe a sign that the investigation has concluded !. The FD stayed in his post to help and answer the many questions ! and now it's time for him to depart.
A new FD moved from one side of the group to the other. At least he will know the business.
RNS announcig the FD has resigned with immediate effect and they already have a replacement.
Never a good sign, especially with the enquiry still ongoing but perhaps that was the reason for the weak share price ?
I always felt this could be a takeover target, perhaps that day will come ?
So wrong that there's no update - the last announcement back in July told us nothing either. Small firm mentality with a smaller minded, secretive and, by the looks of it, incompetent management team. About time Mr Grant realised there are investors out there supporting the company rather than looking our for himself and his family!
we're up **** creak by the looks of it !.
sack the management.
Well this has been a glum 2 months in JIM !
Time the ‘skilled person’ reported everything resolved!
It has traditionally been a high yielder & the family own a substantial % of the stock so they seem keen on decent dividend payouts, often giving a special divi as well every 2 or 3 years, not that I'm expecting a special any time soon though.