The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Somebody should tell the Ceo when you make the headline "trading update" you are meant to tell shareholders how current trading is going etc etc. mm's not impressed, huge overhang, no buyers, suspension looms, they should have easily raised finance now with Taya, fact they have not suggest all is not well here.
the "trading update" in the following ? As stated in its audited accounts for the eighteen months ended 31 December 2010, published on 30 April 2011, the Group has been focusing on cost and development initiatives, a reorganisation of its production assets and succession planning within certain of its business areas, as well as the composition of its board, in the context of a very tough environment. In its accounts the Group identified a requirement for further short-term working capital in the order of £1 million. The Group announces that it remains in discussions to secure additional funding (either in the form of debt or equity) from the Group's larger shareholders, from whom it has received indications of support. Such additional funding remains subject to, inter alia, finalisation of terms and a further update will be provided in due course.
"trading update".....what trading update, there's no update of trading in that rns, no funding secured, their FD who was unsociable as they come and never bought even one share has left so nothing missed there. This company has become a joke.
The way this is rising on low volumes makes me think he's in the market for more stock. Ashley has money coming out of his ears, he knows he could buy this when trading is on it's knees wait and few years and do a Phillip Green and make a killing, all these top retailers know this is the time for them to get big stakes at rock bottom prices and then patiently wait for the recovery whilst also throwing them a financial lifeline to see them through the bad times.
They get more complicated to understand as each year goes by, i remember the good old days when they would be a paragraph to tell you what has happened or what it means, who has bought or sold how many shares, now you have to wade through this rubbish and if you understand them you have had a result, it's good to see Chris Roberts hold a lot of stock as well, means it's in their interests also to get a cash return, with over 1.5 mil shares, a 2p return is £30k not peanuts.
When i first saw the results i actually thought the stock would go down because on results day they tend to drop no matter how good the numbers are. This is not gloating, i really dont understand why they are piling in above 1.5p when these numbers were already on the table at 1.1p offer, if you buy stocks when they are 40% up all the time you wont last long in this market that is why i'm surprised at the reaction today, not complaining because i have sold for a nice profit, i hope it goes to 2p for those that are buying today no hard feelings.
I hope they keep those forcasts so low because when Akr smash them there is usually a better reaction with the shareprice, sky high forcasts mean it's hard to please the market when they are met, better to hammer low ones than meet high ones so to speak. Did you see that huge trade yesterday at 3p, i would have took 250k of those at and give them a extra tick, mm very happy to get that size and price, i know i would be too at 3p.
Stock is a prime example of how stupid punters are, the company already said they would do these numbers and for week there's been unlimited stock at 1.1p now they pile in a chase it some 40-50% higher when they confirm those numbers, makes you laugh, seller must be sick though.
I did make a post last week with a "hold" recommendation at 1.75p and said to wait and on the next spike you could get out with a much reduced loss or maybe a profit, dont sell at the bottom of a spike, always be patient and wait for the next chase, it wont go to previous prices but it might go somewhere in the middle like this time, also buy these stocks when they are dead and nobody wants them and the price is very low, dont chase a spike.
Sorry M6 i know you are genuine, i dont think they will bother today, unless they all get in first and at the low prices they wont chase and ramp so they will pas by today, but keep the thread more genuine with better quality than quantity
Much are they worth then and what is the commissions or value to EEE ? Is this a similar play to Northacre then, i missed a trick on them below 20p when they had luxury apartments to sell and they 6 folded to over 120p, not sure what they are doing now as took it off my monitor.