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Still holding 225k - just checked dealing account - the 60p sell feels a bit low- but may work as a reasonable short - medium term tactic?
Sold 35k at 60p - didn’t really want to but the wider market seems somewhat fragile & flakey
slow bearish sp action
restest 40-45p floor?
Agreed ASF! I thought it might be down considerably. The language of the RNS us interesting and certainly leaves wriggle room for the board imo. Their current advice is paid for advice and you often get to hear what you want. A bit like estate agents you engage to sell your house. I am never a fan of news sneaked out at opportune times for the company as they usually benefit no one and only Foster distrust. Watching closely now.
It also strikes me as a bit suss that they choose to announce this between Christmas and New Year. I am surprised this has not fallen a lot further.
NTBR is being sued for £1.9m by Engie - they seem to be part of a larger group of companies..
The amount is nearly 20% of NTBR's market capital and equates to roughly 3 years worth of normal dividends (from back in the day when dividends were paid- last two years not paid).
The RNS appears to me to be saying that along with the "formal notice" of the claim the directors have recently received new information about the claim; and they are currently considering it. Prior to this notice the directors had received "informal or less formal?" notices/claims/information etc and considered them to be without merit. The claim relates to work done in 2009 - 2011 - from memory this was a period when NTBR was burdened with a significant debt load.
The lack of liquidity in the market for this share is not strong enough to facilitate a low cost panic attack for me in my position! -- the RNS is a somewhat depressing bucket of cold water poured on to what was otherwise looking like a fairly promising few weeks ahead, from my point of view.
Rather a blow today! I don't like the uncertainty and the fact it hasn't been provided for. Rather an old claim so I suspect that it has been in the woods for sometime though it only emerged recently. Otherwise it would have been subject to the statute of limitations. I expect they might settle to avoid court action as despite what NTBR say they have difficulty providing a defense. Only down 6% but still an unwelcome fly in the honeypot.
They are looking for £2m, c4% of annual revenue. No provision has been made despite the issue going back some years.
https://www.londonstockexchange.com/news-article/NTBR/notice-of-legal-claim/15266700
Sold two lots of 5k @ a little over 65p - previous limit order cancelled - holding 260k
that it is worth sniffing round here. Undervalued and I would not be surprised to see this gruff old bear succumb to a bid. One of the leading Northern Lights in my book.
Sold 10k @ 64.33p - previous limit order still pending
Order expiring 13/01/22 set to sell 10,000 shares at 65p each ... how about these?
Sold 10k @ a little over 62.5p ... holding 280k ... had to cancel previous limit order and do it manually as order was not executing when the price became available.
Order expiring 12/01/22 set to sell 10,000 shares at 62.5p each ... anyone want them?
Sold two lots of 10k @ circa 60p each ... holding 290k
Released last friday - H1 eps 6p in line with underlying eps inferred from trading update so looks ok to me - pity they came out on that day! - dividend policy to be reviewed in due course... could get resumption of a dividend sooner than normal? (normally one dividend per year circa 3p- 4p paid in august - last 2 years not paid due to covid - Full year ends 31 March - H2 generally weaker than H1 but not always - from memory) -- didnt really notice any commentary or info given on how many or which subsidiaries are currently or yet to be firing on all cylinders??)
by the update. There is more honey here for investors if they are willing to to be sticky with the share. The dividend reinstatement should be well cub-bered by earnings. You don't have to be a sleuth ( of bears) to figure out this is worth maybe 70p.
Sold 15k @ a little over 58p - wouldn’t object to a little more liquidity— ahem!
Forward annual eps rate 9p or better … in line with h2 last year + h1 this (tbc)
Looks like H1 underlying eps will be circa 6p
Interesting appointments. hard to say that these 2 have any expertise in building contracting but as financial engineers they are a welcome addition. I think they are gearing up to take this off the public markets. It is too small, too illiquid and frankly would be better served away from the volatility of public markets. So choice are : sell the business or take it private. Am sure that things are afoot.
That’s not surprising, judging from what other posters have said. Anyway there should be a trading update fairly soon.
I have never tried talking to the company - the material availability and cost inflation thing is a bit of a worry, I have no idea how things might be going on that front for NTBR. At worst I hope that if it is a problem it wont be too bad or last for too long to be weathered.
That's a hefty punt. I tried to find out if the company is having issues with labour, materials and fuel but they haven't come back to me yet.
Bought 15k @ 49.995p - holding 325k