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Going down 100k since September is levelling off the negative period so far from a surprise there.
The previous cash reduction to September 22 was already flagged in 2 previous RNS?
Overall it does look to be "trading in line with expectations" although they have dropped the mention of profit for H2.
The mention of the gloomy OBR outlook for housing is fair warning but they've been totally negative for the last few years and it's not come to pass.
Trading update due tomorrow, the last material comment beyond "trading in line with expectations" is this from latte 22:
"In the UK and Europe, we currently expect to report a loss before tax and exceptional items in H1 FY22/23, but we expect to return to profitability in H2 FY22/23. Whilst FY22/23 results overall will be somewhat lower than our previous expectations, we expect FY22/23 will show a full year improvement in performance when compared to our expected FY21/22 results."
That's a substantial increase!
It's out at last and it is indeed Harwood.
re 10% of shares changing hands....
Are they Chelsea in disguise ?
Copied from advfn:
Sorry state of musical CEO chairs. In last two years since David Ruffell resigned as CEO in April 2021, Mat Norris was CEO for 6 months and Alexandra French for 11 months and there was 6 months of no CEO, while replacements were looked for. Now once again we are into a interregnum period. On top of this there has been instability in the board with 2 NEDs resigning in Sep 2021
Does Titon just choose the wrong person or is the CEO job one that it is difficult to do given the culture inside the company and its board? Keith Ritchie stepped back from Executive Chair to Non-Executive Chair in October, seemingly to give autonomy to Alexandra French. But for one reason or another that has not worked out.
of the company just 'changed hands'.
And another tranche: 8500 10 minutes ago at something slightly over 83p, bringing my average down another few p.
Welcome, Harwood Capital
NT to buy any serious amount
can sell in volume above mid
tp £1.50
Another 8350 at 91.85p, using up part of this year's ISA sub. Not sure why it isn't showing on the trades. Takes my average down to almost exactly a quid.
plenty of buying interest
tp £1.50++
This thing just needs to be sold now. Lost credibility with the market and it is sub £10m market cap. Take it private or sell it.
great timing....you were (probably) right that the ceo's departure was related to this dire profits warning BUT the balance sheet strength remains (and so do the lt prospects imv)
50-60p wd look(s) pretty sweet (80p begs question of how long we'll have to wait for the tide to turn...2023?)
Could of got the kitchen sink into that update too....
Have started to put a toe back in though at this price.
Just dipped my toein today lol ..
every little helps lol
Bought some today
yep the multiples here are tasty imv
just need convincing (new) ceo
Bought my first tranche at £1.18. Probably will add if the new CEO looks like staying longer than 5 minutes. As John Lee puts it "Titon — with the slogan, “If you insulate you must ventilate” — should be seeing real opportunities for growth in the present climate. Its rock solid, cash-rich balance sheet should provide a superb platform on which to grow.". Lee got me into Air Partner which is just being taken over with a 50% premium, so it seems only fair to put the proceeds into another of his recommendations - he's rarely let me down: Treatt, Daejan and Vitec have all made me decent returns. Quarto is the exception.
I'm hoping Titon BoD return to providing preliminary FY results in Mid Dec ... and that sp will swiftly move back above 130p
CEO moving on so quickly does not look good at all, doesn't matter how it's dressed up. That's governance at the highest level, and it's an issue.
Non exec selling shares straight after in full knowledge that it won't look good, also poses questions don't you think?
what governance qs
Got rid of the last of mine here over the last few days.
Still think the Co is a good one but too many governance questions at the moment and supply chain worries.
That said, someone appears to be accumulating behind the scenes so should bounce on reasonable results.
rns hardly helps
Wed 10 Nov 2021 12:21
RNS Number : 9733R
Titon Holdings PLC
10 November 2021
10 November 2021
Titon Holdings Plc
Chief Executive Officer resignation
Titon Holdings Plc ("Titon" or the "Group"), a leading international manufacturer and supplier of ventilation systems and window and door hardware, announces that Mat Norris, Group CEO, has informed the Board of his intention to step down from his position to take up another role. Mat will remain as CEO and carry out his responsibilities until he leaves the Board on 9 February 2022, to ensure a smooth transition for the Group.
Keith Ritchie, Executive Chairman of Titon, said: "The Board of Titon is disappointed with Mat's decision to resign after such a short period at Titon. The search for a new CEO will commence immediately and Mat's successor will be announced in due course. We are due to publish our results for the year ended 30 September 2021 on 16 December 2021 and anticipate that those results will be in line with our expectations."