Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Back on 24 June I wrote this post the board changes...."Board changes look very sub optimal. All mates or relations of Serge - no wonder the share price dropped 5%.....increasingly looks like this is being positioned to come off the public markets with a bunch of financiers as NEDs. Very underwhelming news"
It was obvious to me then that this was SC's game. However even I didnt think teh arrogant Frenchman had the guts to present this crock of **** as the appropriate value for this business. No wonder the NEDs put out that statement! He has an appalling governance track record, and view shareholders as idiots! Lets hope theat Schroders and the others figure hard to prevent this outright theft and ensure that he pays the proper price to get the the astounding cashflows this business generates.
SC has always been something of a bandit and I always felt ultimately that he would try this, and Covid gave him the perfect cover to reach for his playbook, and plot the moves. All this was done with cover being provided by teh pandemic crisis for which s/holders paid the price. His moves were there for anyone who cared to see them:
1. Put out gloomy announcements, cut forecasts & shelve dividend. Then as things pick up dont frighten the horse by being too bullish which would really drive the sp, but release carefully calibrated RNSs always with the "we remain cautious about the future "line whilst gently raising forecasts (note: this must be below what he actually expects he can achieve)
2. Meanwhile use covid to force restructure of the business in anticipation of taking the group private
3. Make changes to the board to ensure daughter & allies in place before the smash n grab is announced
4. Invest in laundry and make bolt-on acquisitions like the pizza business etc
Agree with the comments on this being a rip off. Just as things were turning the corner as we come out of the pandemic and things looking a little brighter and more positive for PHTM, he does this to us small investors. I'm gutted and disappointed.
Agree with all the posts about this rip off deal, but with them now having 36% ish it does look like they will have it in the bag for 75p In my view there's not much more that can be done, shame as I was looking to a £1 within the next few months. But that's how these sharks work. !!!!!
" Serge clearly realizes he could take this private again at some point, grow it and float it again in few years time. "
------------------------
That's exactly the plan he has, there can be no other reason.
He's counting on retail private investors behaving like the muthafukka-suckers he regards them as, and expects them to become victims of his burgalary - and the same ones who lap it all up and rebuy again when he's ready to relaunch. He's counting on PI's having the memory of a goldfish.
Take it private by all means - for a fair price
-but for 75fecki'n pence!!! Oh C'mon!!
75p outs him as a tw.- At
Agreed Velo, I’m not happy with the buyout price at all. It doesn’t help though with the constantly low valuations placed on some companies by the market…
WTF?!?
What a rip-off! 75p my Rrrss!
After all the positive things said about Serge Crasnianski in the media over the years it turns out he'll rip-off private investors, if he sees a chance to exclude them from a now (by general consensus) reasonable opportunity to recover the SP from here. 75p is all investors will get.
He's stealing the company on the cheap - at the expense of long-term private investors. His name is mud to me. Just another financial robber.
75p is not a fair offer at all - It's akin to out and out thieving!@!!***!!!!!!!!!!
Somebody mentioned a £1
He's not offering that.
The only chance is that one of the 3 largest holders after Crasnianski gathers support to fight the rip-off steal price and gets him to pay a fairer price. But he's determined to steal the company 100% for himself now that he sees the road ahead is one of increasing revenue and earnings. And he wants investors out of the picture so he can profit from it 100% for himself. I wouldn't even sell for a measly £1. But it's going to be a forced privatisation so we'll be treated with contempt as suckers.
What a ****t he's turned out to be!
Serge clearly realizes he could take this private again at some point, grow it and float it again in few years time. This is a good asset for private equity to take on, not sure who else would be interested in this.
… I thought that the offer was 75p?
After Today's news of a pounce, Reckon we shall see near a quid !
If this continues we might see this back at a pound
The pizza vending machines are 9n trial in France-this could be a game changer
Confidence returning to Photo Me. 10th Dec 21 trading update reaffirmed profit guidance between GBP25 million and GBP30 million (before exceptionals) . Final results due 23rd Feb. Not sure if a dividend will come this time but perhaps in the year ahead. I'm expecting a run up in the SP ahead of results, especially if the market thinks they may contain a good forward looking statement.
A tie up with Morrisons will see 50 more revolutions sited
https://www.fool.co.uk/2021/12/11/too-cheap-to-miss-3-penny-stocks-id-buy-right-now/
A good write up for phot me
The government changes regarding COVID testing around holidays is clearly going to see U.K tourism numbers increase and surely this won’t be a bad thing for PHTM.
https://www.sharecast.com/news/broker-recommendations-/ao-world-photome-pagegroup-hays--8034011.html
Very pleased with the progress which the company is making.
Board changes look very sub optimal. All mates or relations of Serge - no wonder the share price dropped 5%.....increasingly looks like this is being positioned to come off the public markets with a bunch of financiers as NEDs. Very underwhelming news
To pick up some stock at a lower level than the last Director purchase
Will be interesting to see if he adds further down here. This was a great divi payer in the past and with restrictions lifting it may be also in the future.
This is a great sign of confidence in the company
Seems a bit crazy but opens up an opportunity to add here. £15M+ profit will be nice
Yep, good news indeed. Proving to be a bit of a dark horse for me this one and hope it climbs further on the back of this and other things that may be simmering in the background.
With a French PE specialist on board and the Old Man' stake hovering in takeover territory, there is something going on in my opinion. Then we had the CFO selling his shares a few weeks back, and now we have this odd trading update which they must have known about when the results came out the other week. All very odd. Are we going to see an announcement from Serge with the interims?