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Here's an extract of what TCAP has to say about the cum-ex legal action in their final results. Doesn't sound like a huge source of concern. However make up your own mind.
"TPIML and Link intend to contest liability in the matter and based on legal advice and an assessment of the claim as at 31 December 2021, the Group considers it is able to vigorously defend itself. Whilst it is not possible to predict the ultimate outcome of this action, the Group does not expect a material adverse financial impact on the Group's results or net assets as a result of this case."
The absence of institutional selling is something that has confounded me for a long time. My guess is that it's too late to exit, without destroying the share price.
Regarding whether or not the 'glass is half full or empty'. There are multiple very large legal cases in progress. The total amount of funds involved is said to be $12b and TCAP has been called the 'spider in the web'. If only a tiny fraction of cases against TCAP are successful, it could be bye -bye TCAP.
Flip side of the coin is there isn't any evidence of institutional selling or declared short interest, which indicates there aren't any major concerns about the cum-ex issue. I guess it's a question of whether you see the glass half empty or full.
The cum-ex situation is like an unexploded bomb. And any development will result in a frenzy of new claims. I might get interested again when there's clarity about that. In the meantime, it's just too damn risky and there's no evidence whatsoever of institutional buying or PI interest.
I was investing in this company but I did sell with a big loss.
It was a difficult decision but I feel it was right.
I can not see this company moving forward with the management.
The last trading was a big disappointment for me.
1. "Significant items" are going to stay here up to 2024.
2. "Cost saving " program maybe is going to make a saving but not earlier than 2024
For me it means almost no or small profit up to 2024.
They also did not take into account cumex and possible lawsuit. They even said that in a direct way .
They will still pay a quite big dividend when profit is almost nothing, cumex will make it worse even.
Capital market days they forecast to improve EBIT from 15% to 18% - so far EBIT dropped to 12,5% - this is terrible!
Management can not be trusted. Lied so many time. Capital Market days -they say about creating a value for shareholders - so far around 65% loss. They just do not care.
more like 40p!
Funnily enough I think these were 400p when the latest chairman was parachuted in. He's done a great job for short sellers :-)) half a million a year plus bonus.. Noice.
100p next week.
Anyone got a copy of the Barclays research buy recommendation on 21 Feb target 400p.... would like to assess it. Anyone?
Seems to want to rise, expect a rally to 130p out of the blue when least expected
right type of volatility
TCAP Bid:118.9p Offer:119.7p Change:8
much better than yesterday, nice
Often see a bit of a bounce after a large daily drop.
Dead cat maybe but its nice to end a day without a buy falling by 7% at days close. Still its not bombs falling so hopefully I can ride it out.
back in again at 110p ,tomorrow would be better ,nice
TP ICAP GROUP PLC REGISTERED OFFICE
TP ICAP Group plc
22 Grenville Street
St Helier
Jersey
JE4 8PX
I paid previously but then again it might have moved since.
I will have to check to see where it is based, I thought it was London.
I had a limit order in for 105, I wonder if its going to get tagged by days end
There is no stamp to pay on this share.
It's all about where the registered company is based.
I have added some more of these, strangely I wasn't charged Stamp Duty.
A mistake in your favour, please pass go and collect £200.
I wonder if the broker will come back to me and take me to task
CaneToad
Just seeing your post. I have been adding on the downtrend too. My comments were general and not meant to be personal so no offence intended.
One day the tide will turn.
119 to 128 to 113p - hopefully a double bottom.
I will hold for the dividends regardless and hope for an updraft and have added further today (a leap of faith) at the lows.
GLA all - not a recommendation
Unembellished results, turnaround on track, no exposure to Russia, court cases all provisioned for, 8% yield at these prices. £1.30 by close.
@Mary: "On these board I find many gloat or take pleasure in the misery of others, particularly on a reporting day."
I'm not doing that. I'm just discussing facts. I took a five figure loss on this by exiting a couple of weeks back. I have been looking to re-enter, but the results are too weak for that at the moment. They've gone seriously backwards. It's not been one days move; it's been in a relentless downtrend for months. This is a heavily manipulated share and I warned people here not to fall for the tricks that are played out repeatedly here.
why is everyone surprised about the results?
We speculated months and months ago with their trading updates that profit looks to take a hit. But they made a profit. And they delivered more than expected on LiquidNet which was also a concern.
Debt is being refinanced.
The company have stated a better outlook for 2022.
Back to £2.50. Could dip first though. But not lower than £1.
CaneToad
The comment was @ volcano who implied he had a profitable day trade.
People invest their own money for good or bad. On these board I find many gloat or take pleasure in the misery of others, particularly on a reporting day.
One days moves do not reflect a one way trend.
GL to all.
No Mary. A 'profit is not a profit'
I've never heard of anything so stupid in my investing life.
There are healthy profits and poor profits. For investing, a healthy profit leads to share price increase. A poor profit leads to drops. I've been watching this stock closely for a long time after having been invested a few times. It's barely profitable. It's a bonus club for the brokers and management. At some stage, it is v. likely they'll also suffer from a loss in one of the many court cases. It is almost guaranteed. Who wants to be sued by Black Rock!!!!!!!! and then there will be 50-100 other clients suing as well.
I go off reported profits not what management care to exclude this year. If you look at their adjusted 2020 reported £96m to £183m, now 2021 £5m to £148m. Call me mystic meg, but if bet the £56m of general management 'significant costs' will be in 2022 as well as 2021 and 2020. Unless they really expect not to ever make anyone redundant, pay off brokers etc etc. It's part and parcel of this buis.
a profit is a profit - well done - I am staying aboard for the full recovery over time and trading to improve.