Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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WTF ? sorry couldn't resist
Yes
It goes tonight. Tomorrow we will be known as WTG.L
will the QQP ticker go if we change to watchstone ?
How refreshing these professional RNS's are from the new board
New name from tomorrow. Also will be suspended for a short time in December
Hey, Phrontist, don't get me wrong; I think that the new board have pulled off the Sale of the Century in unloading what they have! I just want them to continue the same course of medicine. I might only have sixty-two shares (pleeeease don't ask me to go into that one again :-) ) but I don't even want to see those washed out! It's just that, working on the well-established premise that NO RT-acquired firm is worth a sackful of....I'd reckon Quindell would be well-rid of Himex and Ingenie too. No financial journalists have any confidence in either of them and you know what I think about the "success" of telematics in the US. I'm sure it'll break even and maybe even earn some pennies in hotbeds of liberalism and modernity such as San Francisco, Berkley, Austin, New York...but I'm talking about the other ninety percent of the country where, if they bought a second-hand vehicle and found a "black-box" hidden in the workings they'd put a nine millimetre through it! Bring the Money Home! That's my slogan. And get the money working in something sensible! You-Know-Who never "acquired" companies (I'll never say "bought" 'cos he didn't) because he thought they'd earn money; he got them as a vehicle to shift shares around. Himex and Ingenie are no different. Ingenie's at the bottom of customer ratings and Himex...well...what the blazes does Himex even do? Do you know? Do I know? Does anyone know? Flog 'em. Someone'll buy 'em. The world's full of Slater and Gordons.
No Bordersman I wouldn't expect a S & G profit warning in the near future. The changes have not been introduced into law yet and there has been no commencement date. All I am saying is that if we had kept that business it would have lost a significant amount of value as the business model no longer works for new cases as soon as the changes are implemented. The last set of changes introduced nearly three years ago are only just starting to bite for PI firms. There is lag time. It will be shorter this time around as the whole process for low value claims has been streamlined and speeded up. 5 years ago a low value RTA claim would typically take 12 to 18 months from start to completion, with the introduction of the Portal this was reduced to more like 6 to 9 months. So when the changes bite this time, the effects will be felt much quicker. Historically EL/Pl claims would often take 18 months plus and where litigated could go on for 2 to 3 years + hence why we are only now seeing a consolidation and contraction of the PI Industry. When the new changes are introduced this will hasten the contraction, but will not likely cause further consolidation, imo.
S&G (UK) have around 70% of their work from RTA cases and circa 90% of those fall within the targeted group that George Osborne (i.e. under £5K damages) that decimates the business model and when your the size they are it costs a fortune and takes real skill and will to change it.
legalese So, if you are right, we can expect a very rapid profits warning from SGH and Redde? You know what the chinese say about disaster ...opportunity about! Mel
meanwhile Redde plc has a divy yield of 7.4% and a PE of 18. Legalese - I do listen and often learn. I am sometimes wrong . Can you tell us why it will impact massively on RTA claims business. I ran this past a legal buddy ( fellow QPP investor) and in his view it would cut out dross rather than impact on the high margin cases where medical and legal expertise is needed to nail a claim. mel
Will be posted in QSAG later. I believe I saw light at the end of a long tunnel today and it appears to be heading towards me at full steam. Time to change my name to ReassuredScouser :-) ATB 'MerseyMoaner' ;-)
Slime...washed from the gutter to the drains.
Bordersman I think you are right, it is unlikely to affect QPP's profits from S&G's Industrial deafness claims. But the high volume RTA business S&G bought will certainly be affected, and massively. Fortunately, this is not our problem.
Had a quick chat with my solicitor buddy QPp investor. His view is that SGH will be unaffected by the changes. No industrial injury claim would get anywhere without expert medical opinion and legal help. If there is some minor dross clear out , it will declog. No bad thing. Any businessman/woman knows SGH post acquisition had to keep pumping £'s into WIP and that SGH will have had the gumption to cover that in the finance arranged. As Greech ( of SGH) pointed out - wait till you see the second half to pass judgement. I see nothing to alter the Edison estimates of £0.25 Billion PBT spread over the 2 years to June 2017. .... the stonking 83% rise in Earnings/share for SGH shareholders in the same period. If there is a problem with SGH shares it will lie in the Covenant of the loans SGH arranged. If they are related to SGH market Cap.( now £165M) .....I concede there would be a problem ( and a jaw dropping/ astonishing cheap opportunity for those with cash to pick up £0.25Billion PBT, and expectations of net cash generative WIP over the next 20 months ) Central to the QPP normal shareholder thinking has to be the question of how to get value back into the equity/? It could take Aeons to grow datamanagement/ telematics business to a fraction of the profits stream now facing SGH. SGH Market cap is £160M ......I quite like the idea of no cash distribution and £0.25Billion Profits before tax over the next 20 months to end June 2017. and poetic justice. A merger with SGH could cure any borrowing covenant issue. Separation of data management from Legal services has been achieved and , if data management has lots of value, it could appear in an IPO or sell off. Meanwhile Greech of SGH tells us that the second half of its trading year will tell a completely different story. If no borrowing covenant is breached he does not have a problem. The converse is true. It would be odd if SGH cant tough out 6 months. Mel
Rocal Surely everyone on this blog is aware that AIM is at the 'Casino end' of the UK Stock Market? If you don't enjoy the aspect of risk with high win or high lose, why are you here? If Quindell subs fail to attract substantial sales then in theory the price will go down 'a la' S&G (nearly down to 10% of its value 6 mnths ago). Except, the SP is still underwritten by cash even after the 90p/share payment, so the QPP share should not suffer such a dump in value. Conversely, if the Subs achieve some strategic sales, proving product value, then the 98p-90p=8p share value has a chance of rising quite substantially. My gut feel is that the BoD are very likely to 'profile' the companies for sale during 2016 since this industry will become more secure with product consolidation. It is equally possible they will acquire competitors, again to consolidate and over-competition in this fledgling marketplace. Either way, I still have 100% confidence in our BoD to provide the best possible guidance through these choppy waters, and the sale of PSD to S&G for £640m plus extras just proves what amazing skills lie under the BoD's bonnet. ATB, P
That is good news, he was a real source of negative energy. I hope he goes away, has a think and tries to be a better person.
yes, including proposed name change to Watchstone Group plc
Am I right in thinking that there is a General Meeting taking place today?....if so, is this likely to bring with it new info?
in the BLUE !
Thank you admin for removing that troll
Totally agree with the "MerseyMoaner"! Totally agree. Completely. But I rather fear that there ARE going to be few because a couple of folks on here have written about getting into SGH. The various journos who write about these things don't seem to be completely negative about Slater and Gordon's long-term prospects so, hopefully, this "crash" (if that's the right word) is not going to turn into anything worse. Today's reports seem to concentrate upon changes in UK insurance rules. I'm not sure what they're getting at all.
Tarquinpike, I'm not sure whether you meant by "we" being better off as "the company" or "the shareholders", but, whichever it is, you are, in my opinion, absolutely right. That money can be used by either party in further sensible investment. I just wish that the board would have the guts to go the whole hog and see what price they can get for the last remaining RT "acquisitions", Ingenie and Himex. I cannot see any kind of future in either of these two cash-burners, no matter how enthusiastic everyone on here gets about them. They are tech start-up companies which, alongside Bio-research and wild-cat oil exploration is just about the highest risk investment you can make. I keep getting asked when I am going to "commit" myself to increasing my sixty-two share stake in QPP. Well. Let's see; get rid of these two punts-into-the-fog and I'm all ears.
could be worse, you could be Andrew Grech this morning ;-( so Andrew, what did you spend that £650M on?
I had a lovely little short in QPP running, and was cheated out of my profits by S&G's need to commit suicide. Made a little bit of money from shorting S&G but natural justice dictates that QPP should have been the one to go to the wall.