Member Info for barchid

Hopefully you were not called "Nicholas Trench" ?

I'll go for Hungary

With the stock down 5.55% today we must praise the lord that the profit was "nicely ahead" of Edisons forecast, heaven knows where the price would be if not !

Funny that the RNS said they were fixed at last nights closing price then, if that is the case ?
The RNS was perfectly clear, imho, as to how the strike price was fixed.

Trent
Agreed, it is hardly as if corona virus is going to stop people visiting Marstons premises, is it ?

I see our board are not wasting any time with a low share price, they are not coming up with a plan to raise the share price but they have awarded themselves options at last nigts close 24.3 of 5.4millin more shares !
Most boards see the price rise, cash in their options & then issue more, not our lot, they reward themselves with more options at the lowest price.
I think the only opportunity to have achieved a lower strike price was when they were placing shares for the Northern VCT purchase at close to a 40% discount, but as us private investors were excluded from that offer perhaps they thought that might be just a tad too cheeky ?
Talk about the odds being weighted against us porr PI's.

Trent
Every little helps !

PYUECK
I take your point about not trying to pick individual stocks, let alone in AIM, but the trend since Doug Lawson left has been less encouraging.
My take on VCT's is similar to yours, I also like Hargreave Hale VCT, very similar to Amati but can not have such a high % as Amati in single stocks, with Maven as a traditional VCT & Albion as asset backed, renewables etc to balance the holdings. The real question is how the new rules will affect vct's longer term but my guess is they will do OK for us....

That is the $64,000 question !

Trent
Absolutely agree, I was saying that as we all knew the minimum wage was going up why should the market drop the price so much on that ?
It was odd that the shares should have been so weak yesterday, but I did buy a few at the close as well so here's hoping !!

Gaspunter
I have to agree with you, this does seem an unusually churlish reaction to the trading update by the market. The real negative seems to be the profit loss anticipated by the higher minimum wage, yet we all knew that was coming if we followed the news !
Debt lower faster is a real bonus to my mind, as is their attraction as a potential takeover candidate.

PYUECK
Did you invest in some post election ?
I did but am wondering if I did the right thing, since Doug Lawson has gone to run his own start up the managers seem much better at buying than at selling; look at Accesso for example, down from £30 to £3.42 in 15 months, it has gone from a major holding to a modest holding in our portfolio, not because the managers sold a lot, they may have sold a few, but the change in size is because of the decimation of the share price, despite the company putting themselves up for sale, a CEO change 2 years ago, I could go on but won't.
I think if you look at the currently dismal performance of many of their recent purchases one can only conclude that either the new rules are making life very difficult for them, (in which case why are they currently looking to raise a further £25mill ?), or are they better at buying than selling stocks these days ?
I fear the latter is more true, which is sad as they used to be so much on the ball, but they do now seem to have lost their mojo.

Well I bought those a bit early !
Nevertheless I fail to see what was so horrid about these numbers that the market has dropped the shares almost 7%.
I guess the old refrain "marstons are cheap today, cheaper than yesterday" ???

Trent
I just dribbled a few more in, market does not seem to like the update but tbh I can't remember when they did like one, must have been a long time ago !

Trent
It will be interesting to see how the shares settle down this morning, after today's update

comeonvog
I can't see that you posted anything controversial on this site, why the tug from admin ?

comeonvog
Agreed, always look at the cash, not the "revenues", I hadn't looked that far through it yet but there must be some reason that cash is so tight ? If the company has as many valuable contracts as it claims, perhaps they have so many because they are too cheap ?
In this sort of business there is always someone dreaming up a way of doing things cheaper and better, perhaps that is the problem.
Fact remains it was offered for sale and no one bid, so there must be a reason for that.
Another point to bear in mind is that some small company funds and in particular Amati VCT hold a fair number of these so at these levels they may be tempted to take their punishment and run, a difficult call, rather like catching knives at present.

Taverham
I hear what you say, but if the other directors were all taken in by this "one dud", surely that make them duds as well doesn't it ?
If they disagreed they could have argued their point, but none resigned did they ?
Too well paid I suspect.....

Risky
Spot on, imo.
Duds bolted on, I bet there are some real duds in this company, starting with the very overpaid board !

comeonvog
Just as I sent that last post I saw the trading update out today, (not fantastic slightly lower than guidance) and no longer up for sale.
The advance knowledge of this trading update could well be the reason for this latest lurch downwards in the price, I would have more confidence if the board were changed as this BOD have signally failed. Let us see what the market makes of this announcement.