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Well I am here because Lord Lee is a holder.
He s a holder because he likes well managed companies that pay a dividend.
As far as I am aware he hasnt sold out before this drop.
Of course I will be angry if he has and hasnt let us know.
I bought during the Truss effect ; that looked a good entry point but not as good as this.
They should stop paying dividents immediately and start paying off the debt.
They are not a Water Utility where the business model is to borrow stacks of money to pay stacks of dividends
because they dont make profits.
Does anyone have insights on the take of the major shareholders here?..
Well to be fair he has put his hand in his pocket today.
Just took a dump
Hope so, one thing we do know that it wasn’t the director’s. That comment when asked about buying, “I’ll see what the market does over the next couple of days” hmm that’s commitment, not.
30 times the average daily volume was traded yesterday. I don't believe all of this was taken by traders or private investors. Expecting tr1 over the next couple of days
Need to get rid of yesterday’s traders first. I nearly doubled my holding yesterday and happy to wait now.
Yes, Interesting comment on the Q&A question on “private equity”.
Nice buying pressure and chunky buys are going through. It looks like it 'll to be in the 60s before lunch time
Did anyone else hear the explanation yesterday on the earnings call about private equity and how they would have to pay a very high premium because of the numbers based on their three year plan.
Could be an outstanding buy at this level. Watching from sidelines for now but does look interesting
And away we go, how wonderfully predictable
Bendipa1 - is spot on. These day directors lie and work to their advantages only Not Shareholders.
The best comment in Q&A was from CEO: 'we are miles away from breaching a covenant...'
what planet is he on?! it is tightening at the end of this quarter!!!!!!!!!!!!! one of the most shocking management teams ive ever seen. and he sold of course at 3.20!!!!!!
Not to defend any overconfidence from any CEO but... with 3 months from year end, they say they are already below 2.5x and will be 2.1x by end of Dec. They need to too as the covenant drops to 2.25x.
Listening to this call, I think they should start making waffle machines ffs.
Strix Group plc posted Interims for the 6 months ended 30th June 2023 this morning. The Group reported revenue of £65.2m an increase of 28.6%, adjusted EBITDA was £15.6m a decrease of 1.9% versus the same period in prior year, adjusted PAT was £5.7m, a decrease of 50.9% versus the same period in prior year (£11.9m) mainly attributable to interest and finance fee costs due to an increase in the net debt to fund the Billi acquisition and a higher interest rates environment. Net debt increased to £93.1m (FY 2022: £87.4m) due to the strategic acquisition of Billi, this represented a net debt/adjusted EBITDA ratio of 2.66x. Valuation looks attractive with forward PE ratio at 7.2x and dividend yield nearly 7%, but share price remains in a 2-year correction and lacks positive momentum accordingly. Monitor for now...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/KETL/805
Last March CEO Mark Bartlett said with the final results:
“Strix will prioritise debt reduction and free cash flow generation, with a clear plan to get net debt-to-EBITDA to below 2.0x during 2023, and to below 1.5x during 2024."
Prioritise debt reduction, eh? What BS is that. Net debt increased from £87.4m (2022 finals) to 93.1m, net debt to EBITDA now up to 2.66.
So yet again, a classic example that you can never trust a word that top management say. The situation with top directors putting out misleading statements, which they do unashamedly, is becoming a lot more frequent than it was say 10 -15 years ago. As for STRIX I think it goes without saying that management have screwed up big time, from a once bright outlook pre Billi..to a near financial catastrophe. I would not believe in any quick recovery from here, as the debt alone with interest rate charges is going to imede that for the medium term at the very least.
First two listed added together is exactly 500,000. Probably the same person?
I am expecting a good bounce tomorrow ,it will be interesting to see how high that will be as speculation creeps in and possible director buys announced.
Furthermore, the £5/6m cash out flow on LAICA-related earn out costs will not repeat in H2 or next year. Strix are only paying this because LAICA have met expectations.
Link to call within this RNS
https://www.londonstockexchange.com/news-article/KETL/equity-development-investor-presentation/16086968
Zoom call at 2pm
Good chance they are director buys IMO
Nice chunky buys just gone through:
21-Sep-23 12:44:58 55.28003 270,127 Buy* £149.33k O
21-Sep-23 12:44:56 55.27996 229,873 Buy* £127.07k O
21-Sep-23 12:42:56 54.00 1,138,388 Buy* £614.73k
When is the conference call please?
Cheap shares are being eaten up, and price is being held down.
Expect a hard bounce soon, could hit upper 60's by end of day...
This is a rare opportunity and in my opinion those results are actually quite good when you factor in the aquisition costs ,this will bounce back and just looking at those huge buys a while ago they could be director purchases. Will be ripe for a T/O if the market keeps this under 65p for too long IMVHO