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Just a case of sitting tight and riding this volatility.
Long term this is a very competent company who haven't put a foot wrong and run by true professionals.
Just lock them away in you pension fund.
Cheers
Barcap
My assumption is it's a knock on effect from the Travis Perkins profit warning.
FAN are on a high PE rating and so the ripple effects are magnified.
Anyway, keep strong and hold on!
Ollycoto21
Thanks for your advice but I'm happy to hold my short and not "double down" unlike many of the traders on here would do ( Or should they be called "gamblers").
I know there are some on here who are genuine long term bulls and I respect them for that.
I tend to invest in people (Directors) as much as I in do business models and I believe my short is in good hands with the quality of directors in AWE.
Only time will tell but I expect the directors to destroy any value this company has over the long term.
Cheers
Barcap
Ollycoto21
Thanks for your interest.
I like to trade longer term and even though this blip today sees me 18p underwater, which a weaker person would panic and close the short, I'm happy to keep the position.
I won't reiterate my reasons as I've spouted them enough times but one swallow doesn't make a summer.
Private investors have been going knees deep yesterday and today to jump on the next perceived 10 timer.
Good luck to them.
Cheers
Barcap
BlueRaphus
I hope your patience and research are rewarded - I mean that sincerely and not in any sarcastic way.
While everyone is jumping ship and laying into AWE ( me especially) you have been solid and resolute so I respect you for that.
Whichever way this one goes you have my admiration.
PS... I owned shares in Acorn Computers at 8p.... Anyone who knows investment history will know what happened next!
Good Luck Pal
Barcap
It amazes me how much private investors buy into highly volatile dodgy shares.
It's far better to buy solid companies which are well run and hold for 5 to 10 years.
However, I assume certain Private investors are adrenaline junkies and always looking for the next 10x or 100x punt.
Fools and their money are easily parted.
Maybe try betting on trap 6 at Hackney dogs, you may lose less.
Take care all.
Don't get suckered in.
Barcap
The IPO was managed by Barclays and JP Morgan with no private investor participation.
The UK government was very pro the IPO as it reinforced Cambridge as a technology hub.
Also the UK government had relaxed floatation rules to encourage more companies to float on the London market.
Even after the wheels were starting to come off, Barclays were still pushing the shares with targets of 600p+.
So the institutions and government need to take responsibility for whats happened IMHO.
BlueRaphus
You can quote as many ratios and numbers as you like but investment depends on trust, competence and honesty.
Frankly the directors have none.
This is why they are 100p and heaven knows where they'll be when they start trading again.
Cheers
Barcap
So they are going to run the results announcement to the wire!
The second delay announcement said week commencing May 15th so nothing Monday, Tuesday or Wednesday.
2 days left - or this thing is dead in the water.
So Friday looks like the day.
Good luck all
I don't know the ex Carrs Group CFO but they are an engineering snd agricultural company.
The AWE CFO was/is a sophisticated individual and is very financially aware.
He's worked mainly in the high end banking industry for big multi national banks.
He left Barclays to come to AWE as CFO.
Some have mentioned he's inexperienced but that simply isn't true.
Everyone seems to think this delay ( or 2 delays actually) is perfectly normal and is seen in other companies.
However, I don't think the CFO getting sacked after suspension is normal at all.
I guess everyone can sit around drinking Pimms and consolidating each other while the iceberg approaches!
I'd be interested in people's prediction of sp on the first close after suspension ends.
My guess is 75p
Others can suggest a price also.
BlueRaphus
Ultimately the CFO is responsible to getting his company's audited results out on time and for them to be correct.
He failed on both blaming KPMG for delayed audit and "typos" for incorrect figures.
This is laughable.
If these are the public errors what are the errors behind the scenes?
You can excuse this company all you like but new investors won't be touching it and as a result an sp rise is unlikely.
Monty9
Some great points you make.
Ultimately we'll only know the answer on the 12th May or 15th May.... Not sure what day the audited results will be published.
Politically the CFO has been set up to take the wrap for something... Delay, typos or more? Who knows.
Unhooked,
My point really is that it has been known for directors to deliberately crash a share price in a decent company so they can then take it private at a knockndown price.
This is illegal.
I'm not saying AWE are doing this but I've seen it elsewhere.
So you're not nervous about the end of suspension and trading restart on Monday 15th.
If not, you should be.
As well as a massive investment in smoke and mirrors this company is obviously handing out rose tinted spectacles to it's shareholders.
If the directors take it private at a very knocked down price having rinsed IPO investors of literally billions there could be criminal implications.
Cheer
Barcap
Lol.... I love your reference about Joan of Arc!
I have actually raised a fair amount for charity about a decade ago from my followers on Interactive Investor III.
I gained nothing financially or materially.
So maybe I am Joan of Arc!
If you can find my charity page from 2010-2011 I'll give you a gold star.
You seem an intelligent and informed person so a little test for you.
Cheers
Barcap