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Agree.
Amazing how the share price is moving on non biblically held information.
With results out in early June , some signs of European countries opening up, the strong fundamentals underpinning the circular economy, it is unsettling to see the sp sink back to 20p. Either some institutions are bailing or s/o suspects bad news in June or they are contemplating an equity raise with the results. Whatever is happening it has a distinct whiff
Have been waiting almost a decade for them to deliver on the promises that underpinned the Board’s decision to reject a 120p bid from Carlyle Group because it under valued the business. Just one issue after another which to me is largely due to continually appointing individuals with no, or little, sector experience. A once good business that has been mismanaged and has hugely underperformed the sector. I hold on in the hope of an activist investor shaking the management up or a bid.
I think we need to see delivery from this company rather than just promises, otherwise why take the risk (both company and macro economic). I think this will fly once the risk is gone.
Seems that the sp is becalmed and yet there must be demand building for their by-products etc in Europe. Remember that this had attracted Euro institutions before COvid. Wonder why there hasnt been more activity here
The problem is 'one off' exceptional costs on poor individual projects are part of standard business
Dontgiveup I am starting to give up with this stock. Mainly because of all the points you’ve raised above
In theory what a great company with such a good ethos; but I wonder is anyone else utterly disappointed by what seems never ending bad news/poor performance and in some cases what seems total incompetence or perhaps it is just bad luck on the part of management decisions and directions????
As share price has fallen and fallen are the BOD not actually embarrassed and indeed feel morally obliged to reduce their renumeration packages???? Shareholders, hence company owners, are in most cases down 50+% on their cash injected in this what should be a worthwhile and green company. Should BOD not be obliged to take only performance related pay?
I really hope BOD get to read this message!
https://www.renewi.com/en/investors/newsroom/trading-update-and-coronavirus
Sensible plans from the company overall in current climate.
Minjin_6 Well I think everyone has been a pig in at least one share with this worldwide crisis :)
Was the price of this only 2 weeks ago. Wow - fe*K me sideways. Bulls make money. Bears make money. And pigs get slaughtered, this is my punishment for being a pig.
Ive held this stock for a long time too. My long term target is 70 and then 100 depending on outlook.
This company has been under the cosh with so much bad news/luck but I believe the worst of it is past so onwards and upwards. )
Thanks all. Was going to hit the sell button at 40 but glad I didn't. Second largest value in my sipp at 25k with a 12k gain. Might sell and keep the gain at 50
In this day and age I am hugely impressed that you have held for so long - but such misery for you since three years . And after being asleep this SP has suddenly miraculously made 20% in two days. For a board shakeup who would you like to go ? I have no views on the Chairman or CFO but I still feel the top guys should be in Amsterdam and be Dutch .
Stick.
Skid, I am the last person you would want to advise you. My initial entry was at around 90p many years ago and with hindsight I should have sold when Carlyle Group bid an initial £1.30. Like the Board, I also thought they would up the offer, but they reduced it on DD and it has been largely downhill since. I have averaged down with my recent stake at 25p but still have an average price of 70p. Have held now for 15 years so will hang in in the hope of a major shake up of the Board that rejuvenates what I still feel is a good business.
Taverham, that must be a possibility although I am not sure there is much value in any of the U.K. contracts, particularly given the announcement on ELWA. It would make some sense given that they would really struggle to win much in the U.K. now whilst they are still operationally strong in both Belgium and the Netherlands with a good reputation.
Currently on a 10k gain, sick or fold ?
Maybe we will seel off the uk bits and stop the uk listing.
Only things I can think of are a late reaction to the increased stake by Sterling Strategic Value Fund last month who now have 5% and I understand quite an active manager or alternatively a realisation that based on what value Viridor is being talked about then Renewi is under valued. Whatever the reason a welcome move although I am still sitting on a massive loss.
Any idea on the move ?
You weren't too far out, I think we need a positive trading update without provisions for losses before a move past 40.
The recent director buys were very positive.
Back a month ago I predicted a share price end January of 40p assuming a lift from the listing in Amsterdam. This obviously hasn’t happened and I have no
Immediate foresight for Renewi and clearly this LSE forum is unlikely to help on present clarity . Inclination is not to expect any great things this year but be thankful not to lose .
Yes, just need to dump UK listing which will be costing at least a couple of million pounds a year which would substantially improve the bottom line and cash-flow.
starts today and hopefully sp will rise.
For some years, I have thought Amsterdam a more appropriate market than London, given how little business there is in the U.K. I personally would like to see the UK listing go, given the cost of this. Disappointed in the comment on ELWA as I believe a sector experienced executive board would have seen this coming and planned for it. I still believe it is under-valued but my long standing concerns over the current management team remain.