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Was watching back the results presentation over the weekend. Listen in at 59.20 mins, he states " a large customer that are on the verge of" he then stops himself and says " have opportunity to grow quite significantly". CEO looks a little panicked and puts his hand to his face. Purley speculating but I wonder if he narrowly avoided dropping that they were on the verge of signing a new agreement/contract. On a separate note - all very exciting around Rezorce and good to see the SP respond late in the week.
The drop is simply due to the forecasts for 2024. They suggested they will do similar profits to this year. So why should the SP rise? Fine if you are happy to hold for divi alone. But if you are waiting for it to rerate with a market recovery, everything in the sector will rerate, so investers would rather sell up and invest in something with potential growth on top. Zero growth by many investors isn't worth their time. Too impatient to wait 6-12 months to see if forecasts get pumped up.
Results tomorrow. I worry that after the recent rise we need one or two of the following to prevent a pull back in the SP tomorrow, we potentially might not get any...
- concrete reassurance on the Exxon deal (a confirmation would be the dream but I don't expect they would hold that news back for results)
- A large special dividend announcement
- Confirmation that ANOH remains on schedule and has not suffered further delays.
Fingers crossed and Good luck to holders
Not so sure this will have much impact. The Naira depreciation hasn't impacted the SP so far as sales and profits are in USD. Seplat are also not looking to borrow in Naira at huge interest rates. They have a decent cash pile. If anything this reads to me that it's smaller peers that are being hammered by the FX rates.
It's an error, trade must be a typo, 6 instead of 9 . It's been recinded.
What is going on with the Bid/Ask spread at over 7%. It is a company worth 1/5 Billion, behaving like It is like a 10mil microcap! Crazy times!
The two ships have a combined build cost of 560million , the market cap is only 207million. Surely the SP rises on this news tomorrow...
I seriously hope so. My largest position so holding my breath this will be the breakout year. I must say the lack of news developments on the big exxon purchase do have me a little concerned but not enough to trim my position
£14,000,000 trade just gone through. Over 5million shares. That is some hefty volume. Hoping that now a big seller is cleared we might see the SP head back up again!
Thanks for this - I got a little concerned that I'd missed something related to the deal when I saw the sells. Thanks for all the posts you guys put up by the way, long term watcher on the board who never posts. I've been in since the start of 2022 and I topped up in the past few days to take this to my largest holding. Really hoping we get the news we've all been waiting for regarding the deal in the next few weeks!
Apologies guys , I re read the email, typo on my part it's the 7th not the 6th. So we will get an update tomorrow morning. Let's hope all the sells today were poorly timed and we get a good confident update with a nice rise in SP.
I emailed the CFO and he got back to me very quickly with a personal response. He stated 6th November for the trading update and reassured me that he understands my concerns around the current decline in the SP, however, if there had been a change to suggest Zotefoams would not meet expectations then an RNS would have gone out sooner. Very impressed he took the time to write back, actually topped up a bit afterwards.
Interesting that barely anyone has touched the shares at the open. Investors are wary of Zotefoams at the moment. I have emailed the company this morning to ask about the next trading update. It concerns me that this wasn't contained within it, it's a bit of a hollow RNS with no financial data attributed to it.
Today's RNS seems a little underwhelming. Capex revised to the lower end of expectations. More delays on ANOH. No further development on the Exonn deal. Special Divi mentioned for end of year. I worry this might drift down a little this morning.