Member Info for 50glass

Interim Management Statement due soon (tomorrow?) based on timing in last two years.

Well at least the £85m hurdle for the excessive award for Executive Directors increasingly looks unattainable.

I see that the shadow of Mr Lyons, former chairman, (on the losing side when Santander bailed out Abbey National and chairman of the highly indebited Towergate) continues to cast its spell. Good to know that his CBE was well deserved and, despite the loss incurred by shareholders, is comforted by his substantial pensions.

....in today's half year report. Indications are that this is a business on the up.

Today's interim results announcement includes a profit warning which detracts from the longer-term positive view.

Noted, thanks. Looks as if I'm going to have to move them from my Barclayshare ISA into a general trading account.

Simon T. in the IC has today pointed out the diluting effect of share options and warrants, which I had overlooked, to arrive at 192p per share.

Shares traded today are according to Yahoo!Finance some 11 times higher than the last 3 months daily average. Think I'm going to sit back, accept today's sp decline as a short-term movement, and see how thinks pan out over the coming days/weeks.

I'm making enquiries about how and where they can be held. I assume it will differ between nominees. I hold my PUR shares in a Barclayshare ISA so if they can't be retained there (I don't believe that an ISA can hold unlisted shares), I will seek to move them to somewhere where they can. I'd hate to have to sell early and allow others to reap the cash from the liquidation.

PUR is, it is proposed, to be liquidated after the sale of the American business. Given that there was last reported $85.1m cash on the balance sheet to which will be added $16.0m for the sale, leaves a cash balance of c. $100m. At today's exchange rate and the number of shares in issues, that equates to c. 224p per share. Knock off 4p for the $1.6m withheld from the sale, plus some costs associated with the sale and liquidation, leaves each share worth more than 210p. Of course many shareholders, including me, will have to sell before the delisting from AIM.

I'm missing it too! Other than that 4p is tied into the $1.6m which is not payable, subject to conditions, until late next year. As the business is stated to be trading well, it appears that the costs mentioned in the RNS will be met, at least substantially and in the absence of BoD comment to the contrary, by the profits generated between the dates of he last reported results and the sale of the USA-based business.

Looks like an impressive addition to the Board. Glad to see someone recruited for their knowledge rather than someone whose only qualification is that he sits on other Boards and is a number of the 'old boys club'.

Statement of the obvious: dividend will depend on the oil price, cash flow and capital expenditure. Soco appears to be conservatively run, reflecting the make-up of the principal shareholders, so I anticipate that the next divi will be very modest, to preserve cash, and that capex will be increasingly focussed on exploiting existing producing assets, with the rate of development of future producing assets slowed until the oil price recovers.

This is sheer madness. No major engineering company,with a hugh backlog of orders operating in areas where the markets are longterm so positive, justifies a 20%+ decrease in sp. I'm not a RR shareholder however very soon will be.

Soco is a low cost producer relatively near, in geographical terms, to its customers. Therefore it can be expected to weather the low price of oil rather better than many of its competitors. Yes, the divi may reduce however the medium and longterm prospects firmly, to me, justify its place on my longterm holdings list.

Told you so!!

It is said that the cobbler's children have the worst kept shoes. As pointed out here today, this company may be great at communications for clients but seems incapable of effectively communicating its messages to investors. Personally I think that today's sp reaction is far too harsh so see it as an opportunity to top up.

My apology for the garbled and repeated message. The perils of using a smartphone in a poor signal.

My apology for the garbled and repeated message. The perils of using a smartphone in a poor signal.

I predict that ST in IC will comment on this company in the net few days with a follow increase in the sp.