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Has anyone any info why this is so unloved?
Fundamentals look ok so whats the problem?
Previous ceo was booted out with some vague reasoning (see rns), still no clearer and the market hates uncertainty = continues to fall, I suppose it's equally possible the previous ceo is selling her huge quantity of shares she holds - we have no idea
from the rns 31st Jan:
"The Board has lost confidence in its Chief Executive, Nicola Foulston, as a result of cultural concerns and the execution of the Group's strategy; her employment contract has been terminated with immediate effect."
Thanks ThreeP but that is old news. I was hoping for something new. Just have to wait
another couple of weeks or so.
way way oversold now imo and rsi on the floor, I'm back in
It's just Foulston selling her stock in drabs in a vain, twisted attempt to embarrass Ian. It'll bounce back. DYOR
Hi David thanks, is that just a guess or would you have found info from somewhere please ?
IMO so much wrong with this share - and much worse coming down the line... Significant staff turnover and key partner losses since the acquisition of MC will undoubtedly reduce billings - further all the consideration shares (9.7 million) will shortly be coming out of their lock-in period and I can't imagine there will be much enthusiasm to hold. Law firms don't work as listed entities!
I can't imagine they'll find a better yield elsewhere. Pretty sure NF said millions of shares had passed thier lock-in period and that non had been sold, that there wasn't an appetite to sell from employees. DYOR
Where do yoy see the RSI? Thanks
This share looks remarkably cheap , however , I am concerned about their liquidity situation ..they have a £15 million roll over lending facility ..at 31 March 2022, they had only used up less than £5 million of this leaving a near £10 million headroom ..and invoking the comment , that they had significant headroom available , which they did
My understanding is that they have now used up £14 million of this roll over facility , meaning they only have £1 million left ..and thus only marginal headroom .. furthermore if you read the earlier pre close trading update it only comments about " CURRENTLY " operating within the funding facilities , no mention of the future
I think they might need the sale of Lionfish to boost their liquidity , albeit it is probably the right decision to dispose of this high risk part of the business .
I already hold a position in this at 41p and am considering upping this , but the liquidity situation is preventing me at the moment , until I get more clarity on it ..
What do other people think please ?
What I would add though , is that on any metric you care to use , then 38p is cheap , when you consider that on a cash basis at least , they have managed to remain profitable throughout , even despite the recent losses on Lionfish litigation cases, and they are still managing to maintain their repayments on the loan taken out to fund the acquisition of memery chrystal .
You just feel that it could reach a 50 pence share price on the blink of an eye , and a quick 25% return on the current share price , and that excludes dividends ..it also seems to have bottomed at this price , although having said that, I thought it had bottomed at 48p
I feel this is the kind of share though , where you wish you hadn't been bolder on your level of investment , when the share price re-sets to a more fundamental value ..at least that is what I think but as always DYOR..
Where you wish you " had " ** been bolder ..sorry about that ..
Nicola Foulson apparently used the " n" word in the presence of a black head of PR named Deans at a dinner they attended , she was immediately pulled up on it by Ian Rosenblatt in front of 20 staff who were present
Ian Rosenblatt later picked up Deans for the use of anti Semitic comments and raised a grievance against him ..plus other things beside. ...all of this is currently being pursued legally in the courts .
Not a favourable backdrop to the share price or winning future business you might think .
https://www.rollonfriday.com/news-content/sacked-law-firm-boss-used-n-word-front-black-partner