Member Info for Archy147

I’m genuinely shocked by what I’ve heard today from the FCA.

When they notified the company of their intended objection days before the hearing, it struck me as incompetence on their part. If they weren’t happy with the scheme why did they make no effort to improve it during the ample time they had available beforehand.

Today, I question that view. Now it appears they deliberately manipulated the share price going into the hearing by not raising their concerns at a more appropriate time. To see them using the fact the sp has risen ON THE BACK OF THEIR PREVIOUS NON-OBJECTION to clobber shareholders strikes me as totally disengenuous and dishonest on their part.

It makes me wonder which authority the FCA are accountable to for their conduct in this ?!

It depends on the price offered.

I certainly wish I’d sold up when over 20p was offer
Would probably sell now at anything over 15p
Under that, hold and hope for the best

I think a degree of frustration is inevitable. We're sitting here reading the FCA attacking us shareholders with extremely bad arguments. It would be nice to have a voice in there and not just left to hope that judge sees through the FCA bull****.

I should be punished because I knew the risk? That makes no sense.

Is somebody going to mention to the judge that shareholders lost 90% of their equity since this kicked off.

Those who bought 3 months ago weren't involved when the dodgy lending took place; why should they be punished on top of the original shareholders?

Great tips thank you very much hell :)

I’ve bought some Ricardo this morning having decided that’s definitely one I like. Very tempted by Greencore (I used to own Bakkavor but sold out to take profits on that), shoe zone, go ahead (used to own NEX but again took profit there) and 7 Digital now too. I’m a big fan of recovery plays generally and these largely fit the bill. Will look to buy in some or all of these over the coming days, cheers!

Thank you for the WSG tip unknown_trader - will have a good look at that. It looks interesting and price very low!

And thank you hellyeah for the list! We must have a similar approach because I too own Costain, Hiscox and Bab****, Also held Saga for a chunk of last year but stupidly lost my bottle on that before V day came along :(

Of the rest, Ricardo and Go ahead definitely interest me. Shoe zone looks decent but suffers from illiquidity? Centrica not sure about and 7Digital looks arguably the best multi-bag possibility of the lot but also the greatest risk. Do you have a personal favourite from these?

Agreed, this is the best multi-bagging opportunity left in the market that I can think of. AMGO also decent although that arguably has already exhausted some of it's potential.

If anyone has any others, please me me know...

Dan you need to let it go mate.

Rag says he uses Ollie the Octopus to make his predictions, that surely tells you all you need to know.

Ps I bet Ollie managed to predict the post result drop, that wasn’t a hard one to call at all!

But in answer to your question "What is the potential"?

Well they are an exploring and (potentially soon) mining company. These stocks can fly if they (literally) strike gold.

Personally I'd say this one is too risky for someone relatively new to stocks.

I'm one of the mugs who bought in around £1.60 and now sitting on a large loss. Fortunately I can afford to swallow it (or hold out for a recovery) as its only a small part of my portfolio. Personally, if I was starting out I'd go for safer plays before delving into riskier stocks like this one.

Brokers are a total waste of space but on this occasion their target of 407p is similar the the 410p I'm aiming for.
410p was the price on the last day BC - Before Covid - (21 Feb 2020).

Believe there is potential upside from there as the company is arguably coming out of Covid stronger than it went in, but I will likely be selling a tranche to take profits soon after 400p pops

Just saying.

Taking this down to 18p (lower?) yesterday before it climbs back to 26p today. How may people lost out because of that fabricated drop in the sp? MMs = Winkers

Thanks both v much

Thank you sbbtwenty20. Who were you referring to again please regarding the RNS alerts?

Yes I am very fed up!

I didn't even know about it until i read this board today! Normally I would have expected a notification through my platform (ii) but there was nothing.....how were shareholders notified of this?!

Gruntie, in response to your question: People who were shareholders when the (allegedly ) dodgy lending took place have been severely punished. WAY more than those who were lent money. Why should shareholders who bought in long after the (alleged) dodgy lending stopped also be punished ?

These are people who bought in when the market thought there was a good chance the company was going bust. In other words,, they have risked losing everything. They shouldn’t be punished (in addition to the original shareholders) for taking this large risk and winning!

Well said Lenny you've echoed my exact thoughts there.

If the FCA had serious objections, then the time to raise them was BEFORE the scheme was put to a vote. They didn't. Not even at the court hearing.

Doing it now just seems churlish. As someone said earlier, they're probably doing it because they've seen the sp going up and didn't much like it, hence deciding to take a dig at shareholders. Idiots.

The board turned down separate offers of 130p from Minerals Technologies in Dec last year and an offer of 160p from Innospec last month.

In both cases they said the offer significantly undervalued the company.

It’s encouraging that 2 separate companies have bid in the last 6 months. Don’t know if a 3rd bid will come, but, if not, we still have the hope that the board are correct when they say (in response to the 160p bid):

“The Board concluded that the Conditional Proposal significantly undervalued Elementis and fell meaningfully short of the value creation potential for Elementis shareholders based on Elementis' existing strategy”

The one thing I’m never certain on with these rejected bids is whether the board genuinely have shareholders best interests at heart, or whether they might be looking after themselves and safeguarding their own positions first?

Guys, I’m trying to figure out what a sensible selling target is here.

Assuming the vote goes in favour, where do we land? I’m assuming 70p is easily achievable given we we were there for the last quarter of 2019. Beyond that, they were knocking at 300p in 2018. Are those heights achievable again?