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wow...this is a very rare form of RNS. A company actually saying that they messed up communication and didn't place shareholders perceptions first...a refreshing admission if nothing else.
Surely have to take the company at face value for this moment?
50% uplift sounds good to me. Nice gap on the chart to fill around £5.50 (but needs favourable bond rate and some more clear, confident statements from the company rather than the vague, wooliness of this week's news)
Based on their credit rating of BB-, I expect the yield to come in around 6%. However, the share price dilution is becoming too apparent, it's the age-old theory of debt overtaking equity, and I mean "tangible equity" (minus the goodwill).
If Victoria is replacing the existing loans with debt (so they say), the sudden slump could provide a 50% upside, but if its debt added on to existing debt, then expect the shares to touch £3. Also, if they continue acquiring more businesses without any care about consolidating as a group, then this company is a sell.
Chart looks good for a rebound and clearly going to be plenty more RNS to come in short order (obviously they could be negative as well as positive) so worth the gamble I think.
Drop seems overdone.
I'm bemused by the different positions of the institutions - with some happy to subscribe to shares over £8, and now shorters and sellers.
The trading statement didn't seem bad with some like for like growth at the expense of some margin - hardly surprising in this market + growth from acquisitions albeit again not surprisingly from more debt and equity.
The financing seems more of a change from one type to another.
So what's really changed to halve the share price.
The only bit on the pro forma figs I didn't like the look of, but I'm not a trained accountant, if anybody can explain is that the pro forma has an enourmous £59m exceptional cost on the acquisition of Keraben explained as 'pre acquisition exceptional costs' with in even tinier writing '...costs under previous ownership' with some weasel explanations (including previous mgt incentive plans) that results in a loss for the whole Victoria group of £37.9m - which presumably means that Victoria's next results will show a thumping great loss - that even as an exceptional one off - lacks proper explanation now.......I don't understand how they can have racked up, or VCP mgt accepted this £59m without full reasoning!?
steady increase in the short position to 4.37%, i wonder if the holdings RNSs are associated.
WTF happened?!
I am now 45% down on VCP.
F F F F F F !
No Xmas pressies for the kids now... or Fing turkey!
Arse.
No doubt you’ll be following your sheep over the cliff edge. The only smell I can discern is that of burnt fingers.
Pride always comes before a fall!
£5 on the cards this week ?
Well well now the shortest will be laughing all the way to the bank now that the share price has fell around £2 per share that’s huge
its the smell of shorters soiling themselves wondering what to do when the press article fails and they are 5 mln shares in the hole...how do you close out that number of shares when the company is in fine fettle, is following the plan and is less vulnerable than you thought...?
Back to the drawing board gents (loose title) and think about where else to risk other people's money...
Losing market share to competitors like VCP...
Buyers come in on Friday and Shorter press comes out over the weekend...disgrace
Very stinky...the passage of time is making it no less stinky
Inaccurate and outdated article - driven by shorters...GW owns 20% (not lesser number quoted) and the news of shorters is weeks old. What they weren't banking on is the big holders (~75% of the Co upping their stakes) Smacks of total desperation..."please print something to try and get the share price down further...the stock is starting to go up and we need to buy our stock back!!" ...Well that's just great...these pondlife parasitic funds shorting a solid British manufacturing company while this country is going through a systemic change...what a bunch of Sh*tbags with no regard for the many jobs this company provides in this country...all on a hunch that the shares were "ripe for a cropping having gone up rapidly..."rather like that idiotic shorter 3 years ago...Lucian something or other...lost his shirt (and others theirs) trying to short this company...GO away and earn a proper living...SOROS...you are despicable
A trade for just 3 shares at 8am.
Is it a MM code?
If so what does it mean.
Answers please on a post card to....
WTF Does That Mean,
Having a laff Street,
Gamble Town.
Finally the sp is turning....sadly it has fallen so far that even the slowest moving shorter is going to be able to close their position and get out without getting burnt.
Which is a shame!
Top up time anyone?
The shorters are edging towards the pants browner chair...
Surreptitious calls to one another as the ploy has reached its conclusion.
Time to close out? Who will have gone first...who can you trust in the last few days?
Stinky
Heard that shorters are the cause of this slide as they were end of March!
If true they have had a field day here and should start cashing in if they follow the earlier pattern.
C’mon guys give us that held a break and cash in eh!
Lol
Over 12% drop in less than a week?
Not like the vcp I have enjoyed being in for last 18 months!
Anyone an idea why the drop?
It appears my assumption of Victoria's acquisition strategy is right.
Continue to acquire more business via equity fundraising. https://www.investegate.co.uk/victoria-plc--vcp-/rns/proposed-placing-and-acquisition/201808060701508537W/
Interesting view - but in this complexity of acquisitions I'm still with following the Chairman - as confidence in him is a large part here.
The article doesn't add up - because although T/O was up on forecast, so was the EBIT - but not the EPS - which shows more a discrepancy as to how they were calculating projections.
Big point is the acquisitions - which of Keraben were 'larger than all previous put together' - there is execution risk in this growth, but he sets out and has followed a pattern of solid profitable companies in different areas with ceramics being over 60% of flooring sales - justifying a fitting bigger purchase, on around a 13 times current profit multiple.
I had reservations, but his execution so far is excellent with a management approach that is similar to J.Fisher which has gone from around £1.47 to £18.50 over 15 years. Read his Chairmans statement - it puts whinging Brexit politicians & public to shame - I may be proved wrong, but on balance I'm staying put!
Not too worried, more perhaps a pause or drift as it has gone from �4 to �8 in a year. Gone back up on a reiteration of the positive trading update. Still a long term upward trajectory at present. Also not as many sells as shown - I purchased some yesterday at the sell price & it showed as a sell when it was definitely a buy!
Some serious dumping going on here looks like sp is heading below £7 mark
A best kept secret? But hardly a glamour share, I suppose. VCP seem to be living up to their mission statement "To create wealth for our shareholders". 160% or so in around 14 months for me now. Today's announcement about possible Keraben Grupo acquisition adds a good chunk of interest for the next few months too!