Member Info for 50glass

Excellent: revenue growth; margins increased; net debt down despite share buy backs; divi up 12%. Management confident about the future. All-in-all I expect several sp forecast upgrades to follow.

Usual market over-reaction. Seems to be linked to Investec's decision today to raise (yes, raise) its price target to 295p. https://uk.finance.yahoo.com/news/buzz-regus-investec-cuts-hold-075232882.html As usual an opportunity to buy!

You don't have to attend in person to vote. My broker has accepted my instructions to vote against the BoD's recommendations.

An example of a capable BoD who hand back the cash and then invite investors to subscribe for their next venture is Melrose. They do so even though they solely operate in the engineering sector where they have proven management capabilities. I repeat: Fastnet have no proven experience in pharma.

Indeed if the BoD had any honesty they would hand back the cash and then invite investors to subscribe to their new venture. The fact they have not speaks volumes about their capabilities and ethics.

I'm very well researched. There is a great deal of difference between financing existing businesses and starting from scratch. Fastnet is dead duck. I have written off my investment as zero.

Well at least they will have one customer.....me. Quite what persuades a BoD to move into a market in which they have no perceived skills is beyond me. Cynics might say it is to keep the directors' fees rolling. Surely not. Much better for shareholders if BOD took the decision to wind the company up now and return the proceeds to shareholders. If I want to invest in pharma that should be my decision and not that of the BoD.

1st May statement: "Based on current information and in the absence of unforeseen circumstances the directors believe the return of surplus funds is unlikely to be more than 125p per share." Today we learn it is likely, subject to usual caveats, to be 140-145p. Seems the BOD were either being too-cautious in May and/or disposed of the 99 year lease on much better than expected terms. Anyway, the Phoenix business is seemingly worth much more than the current balance between the sp and the cash payment per share. Awaiting the 5 October announcement with great interest.

10 out of 10 to the BOD for realising that early stage oil/gas E&P is, for the medium term, a dead duck. Quite why they just don't wind-up and return the proceeds to shareholders is a mystery. Moving into another area, where the risk/reward relationship is also a long bet, is beyond a mystery.

I've had CMS on my watch list for several months. Yesterday I purchased shares as the good news and potential good news, as reflected in the two earlier posts this morning, lead me to believe that the environment is turning from 'promise of future delivery' towards 'actual delivery'. The risks appear heavily biased towards the upside.

'Steady as she goes'. No surprises in today's announcement with re-confirmation that the company can successfully exist in a low dollars per barrel environment. Turnover and profits should increase as additional BOEPD occur in the immediate future. Also the payment of $50m in the next 12 months, from a 2005 disposal, should underpin a 2016 payment to shareholders.

It appears that Mr Tang is getting his money back through consultancy fees which were $79,000 in y/e June 2013 and $628,000 in y/e June 2014. When the y/e June 2015 report is available it will be an interesting exercise to calculate the effect cost of his shares. He has also, in the last two reported years, picked up $11,000 in director's fees and $1,063,000 in share options. having a chairman who is paid consultancy fees by the company he chair's is seemingly one of the governance oddities of AIM companies.

Onwards and upwards. shame all my holdings don't deliver similar performance.

Last year the mid-year trading update was on 31 July so my uneducated guess is an update on 30 July.

My expectation is that the advise of the cash payout will be accompanied by a trading update which will allow a calculation of the value of what remains. My view, based on my latest analysis, is 120p cash + 30p residual value. Time will tell.

Thanks for the information. The reference to "averaging down the share price of our UK shareholders" is a new one to me so I'll undertake some research to find out what it means, apart from increasing our percentage stake.

My latest NAV calculation is c. 23p per share. It appears that the sp, being below even the cash element of the NAV, reflect the fact that POL will have to spend cash on releasing value from its investments. Recent fund-raising by some of POL's investments, in which POL has not participated, shows that the sums required are broadly comparable to POL's cash thereby suggesting that that cash may, perhaps before too long, be spent. The positive spin is that POL are working on a game-changing use of the cash. The negative spin is that it will fritter away without delivering subsequent value to shareholders. Until the commodities cycles start to become more favourable, I'm happy (as far as I can be with such a low sp) that the BoD hoard the cash. It remains extremely disappointing that POL have such poor communication with shareholders; emails consistently go unanswered.

This is only my view based on a reading of the announcement. The participants will get new shares which will dilute the value of existing shares. A couple of examples, based on the current number of shares in issue suggest that if the sp reaches 80p then the plan will, in effect, award just over 2.5m additional shares which will reduce the sp, for existing shareholders, to 78.36p (2.05% reduction). For 100p the figures are 6.0m shares, 95.28p (4.72% reduction).

It was always to be expected that Wizard would reduce its stake. I expect that they will reduce their stake further after the current 'lock-in' period expires. Each creates a buying opportunity as evidenced by today's Old Mutual announcement.

Agreed. Two possible flies in the future ointment might be (a) the reported decline in the market, and (b) an increase in interest rates. The first might be due to a pre-general election temporary slowdown whilst the second might be offset by our company's financing arrangements for customers. However given the positive results, the effects of pensioners spending and the opportunities to consolidate market share using cash to purchase other players, leads me to be a satisfied long-term investor.