The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
So, the Japanese and the Americans are fighting over the future of the floundering Brits, lol...seems strangely familiar....and the Chinese (Hong Kong, close enough) and Japanese are battling as well.....this round, and Premier Foods, goes to the Japanese. Mr. Soba Cakes, anyone? lol
Oasis will be handing back their borrowed shares shortly and gd will figure he has another 12 relaxing months of highly overpaid holiday time before he gets called out again...at least Oasis gave gd, kh, and the board some ideas they can pretend are their own, lol.
Thanks for trying Oasis, Paulson and the rest....in just 20 years, the debt will be at a manageable level, lol
We need you to be our Noel Edmonds for the AGM...(as he was at Lloyds's AGM) lol
I expect this to be the most misleading update yet - gd will be out-doing himself, with kh's help, to twist the figures around to try to make it look like this is the most successful company in the universe, lol....the problem is, we have heard all the excuses, lies and promises of jam tomorrow time and time again. gd doesn't have the class to resign and he gets paid a fortune each day he is in the job, and failing.
Voting instructions given to brokers are already being forwarded to pf; so, gd & co will be getting numbers well in advance of the agm.
...if it's just dawning on GD now, that PF has shareholders, lol
Nissin don't want PF, they just want Batchelors and UK distribution. I think their decision is, either make an offer for Batchelors now, when they are the only player in the room; or, wait for a few months and compete for it...
haha, the Board and GD and KH are no doubt making the rounds and calls, with hats in hands, trying to call in favours and promising rewards for public endorsement of GD, so they can all keep their snouts in the dirty money trough.
GD has destroyed shareholder value already...
They should be concentrating on doing their jobs instead of wasting time and money trying to save that poor excuse of a CEO.
Oasis is saying hire a real CEO and a real Chairman, they are not saying Oasis wants to be CEO and Chairman....funny how it is being spun by PF as PF vs Oasis, when it is actually about getting rid of a corrupt CEO and his cronies. Funny too, that they didn't attack Standard Life, Paulson, or the others that went public with their disdain for GD/PF under GD...be a great time for the FCA to remove GD, lol...quite fitting, too.
Because, Oasis don't want to own the company; they just want to see performance and return on their investment - performance that has not been there since Darby was put into the role of CEO without any candidate search being conducted. It has been a farce since day 1, it just took a few years for some to realise what is happening.
Oasis have only made the same failure comments that Paulson, Standard Life and a number of others have made over the past few years - 'grossly mismanaged' was Paulson's quote, I believe, but others have said made similar comments...Oasis has just put it in writing - then again, they weren't the first to do that, either.
Hamill, lol....have you looked at his history? I posted the enlightening article on him when he first arrived - has an 'ignore-the-rules-of-good-corporate-governance' attitude where stakeholders - shareholders and government - should be ignored by company leadership...Hamill was the last person PF needed at the top to regain credibility after GD's destruction of shareholder value and trust.
The Board supports GD - really? Hamill and Darby should both be removed - a fresh start is needed, with honest and credible leadership with FMCG experience - preferably, in food.
It's all about company performance, shareholder value and return on investment; not buying 51% of the shares in every company you invest in.
More than just Darby have to go, in my opinion.
I have given my annual agm-get-rid-of-Darby instruction but added No to the other Resolutions as well.
I don't trust these directors to do what's right; although, it sounds like Oasis is only naming Darby so far, and they have the inside information. They know that Darby is the main problem. We've known that all along too, but it's good to have it confirmed by someone who has shared the office with him, and with the other Directors.
The PF propaganda just released says the remaining ones at the trough unanimously support Darby; so, it seem to me that they should all follow him out the door. PF needs a fresh start with honest leadership who have some integrity and who want to make the company a success, not just line their own pockets.
I only wish we could do more than just sack Darby...lock him up and make him pay back his salary and return his shares, for a start...then have him reimburse shareholders at 30p per share for the Nissin-McCormick scandal. If only that were a Resolution at the AGM.
I find the timing of personnel moves over the past while worth thinking about. McCormick offer is rejected - major shareholders go public with anger and criticism over darby's under-handed approach and closet deal with Nissin, and get two fingers up in reply Hamill (cut from the same cloth as darby?) joins in Aug. The UK Marketing Director and the General Counsel depart in Jan & Feb, as quickly as they can find new jobs (two roles you would expect to demand some intelligence and integrity). One of Nissin's head honchos (Honda) joins the Board 22 Mar (and makes Nissin's plans known) Oasis gives up and leaves one week later, on 29 Mar. darby buys a load more shares with somebody's money not long after Rumours of a Batchelor sale to Nissin throughout Share price essentially remains where it was 6 years ago. Can't help but get the feeling this is all about darby and Nissin, and Hamill wants in on their game or darby would be gone by now Also can't help but wonder if a Nissin and Mondelez split of PF is in the near future, with a selling off of the remainder Just can't see an intact prosperous PF in the next 5 years - then again, I said that 5 years ago, lol
Positive news?....yep.....Finsbury Foods is up from 50p to 116p in the same roughly 5-year period, lol Buy in now? That depends....if I had been watching the history of the past 5 years and knew of the deceit, the rights issue, etc., then no, I wouldn't buy in now. If I didn't know the history and just looked at the low share price, and was looking at frequent trading to make 5% at a time, and didn't really care about possibly never gaining on my investment other than that, then yes, I would buy in. It would have to be money I was prepared to write off, though. There is always the chance (if, if, if) that the company will be bought or that there will be a top management clear-out, which would take the price up. It also depends on whether you believe someone would be interested in buying all of pf...and how much time you are willing to invest, as each day you are in here and going nowhere, you are effectively losing money, by not being elsewhere. At some point, those losses are no longer recoverable, and you have prevented yourself from investing in other, recovering or gaining shares of companies while those shares were more affordable, and missed any dividends. So, lots to consider...and that's just the tip of the iceberg. Everybody's situation, and their personal goals are different. Personally, I don't mind hearing when other people make good trades...it's a reminder that shares are also for trading, not just holding.
I hear you. I took a load of mine out, what I could at profit, and moved it elsewhere not that long ago...left the remainder here for now, with no expectation of hitting profit on that lot, ever. I'm looking forward to the day darby is tossed in jail...related to the trading around the nissin deal and misleading shareholders around the deal, the McCormick offer, and his promise of the immediately pending sales growth for pf...just before he issued the profit warning...could never believe a word he said....
....this doesn't feel like a normal dip in sp back to it's low of 5 years ago, that we see every little while, under darby - not when it's coupled with the recent resignation of two key senior management figures...followed by an internal promotion into the UK Marketing Director role when the company needed change and some grey matter...feels more like some people know some things we don't know regarding what's coming next. Any financial convenants pf is going to fail to meet that anyone is aware of? Anything coming due? We're almost at the point for another 52p per share bid - could be an interesting March. I'm looking forward to the next batch of lies Darby will tell us.
HC, Off the Hargreaves Lansdown site....largest volume trades of yesterday: volume, share price, value 13:50 - 01/03 Sell 1211917 39.37p �477,128.09 13:50 - 01/03 Sell 288083 39.37p �113,417.41 13:36 - 01/03 Sell 166000 39.00p �64,740.00 16:10 - 01/03 Sell 60000 39.00p �23,400.00
Perhaps he was the one with the ethics and is just trying to get away from the shady stuff
.....when Nissin buys batchelors and sells out to Mondelez, who take Kiplings, and we're left with Paul Hollywood and a 10p share, lol
Okay.....gd did a great job driving PF's share price down to the mid 30's, which then attracted a bid from McCormick that was initially 2p higher than the rights issue share price, lol. way to go, gav!
Agree.....it's funny, and sad, to read the same comments on here, update after update and year after year that gd has something great in the pipeline, rabbits in a hat, a magic plan that only he knows about and appears to be a 10+-year plan, ha,.and the reality is always the same - no real progress, more negative news....eventually this must all pass, but when...and will any news from this crew be good for shareholders is the next question. The management track record is rather dismal reading. Hopefully, gd will fall on his sword soon...not many investors/companies would keep a ceo with such poor and shady performance. The new guy has made no noise yet, just collected his paypack, ha...more of the same. I do think he will cook the books a bit at year end though, to make it at least look like he has done something, so we may get a bit of share price relief. A profit warning would be more in line with gd's past performance, though. The next 5 months are going to be interesting - you get the feeling something has got to give soon; or at least happen to pf rather than something done by pf. Time will tell...meanwhile, more opportunities are missed for funds tied up here.
I hope he pulls out the Rabbit of Caerbannog (as in, from Python's the Holy Grail)...