Member Info for bistolover

The stock is ok. The problem is with the management team, their complete neglect of shareholder value in the past 5 years has resulted in the market not believing anything they say, too many fibs in the past has caused this. The new chairman needs to get rid of the shameless CEO

for the share price to move up. He has followed the same pattern as before, when the weather is in his favour, it's all about the partnerships and magic formula, then we get a bit hotter weather, then it's all about things being out of his control as sales and profits are lower.

conversation with the wife goes like this "Hi darling, I tried my best to say it was all to do with my magic formula, I never mentioned the weather at all, not sure why the shares are not going up. this ideal of mine to take 100% credit worked in the past, but for some unknown reason, the market is not believing it this time around"

In addition to using revenue of knighton foods, which is loss making, he is also moving nissin uk sales through the premier books to make the sales look good, but nothing has been added. The profits are lower than last year, the FD has already admitted this when he said the debt reduction is same as last year, whilst cost being less due to pension payments being less by �15m. nothing but fiddling the books to get his bonus, whilst shareholders suffer

The bonds were renewed at the same rate as the previous lower amount, just throwing away �7m does not make sense, so premier must be protecting again a covenant failure. This was done last year and premier did not know the weather would be colder, so they needed to plan for banks debt to go bad, the extra bonds issued means no banking debt required. Darby just needs to be honest with the investors rather then keeping things hidden via stealth, for them to kill the confidence later.

he must love the bond holders, even has a conference call for just for the bond holders, this call is not shared/replayed as the investors one, what is he hiding ?

too late, he has already don it, Not only raised more bonds, but re-issued bonds that were not needed to be renewed for 3 years. previous �175m renewed with �210m. wasted �7m in fees to do this, then using it as an excuse to say debt reduction will be not as much due to this cost. Keeps the reason hidden, does he thinks investors will not question this ? the reason can only be that he wants to rid the banking debt as covenants are at risk of breaching. now he does not need to tell the market anything, all very dodgy stuff. All this to avoid issuing a profit warning due to bad performance, to keep his job.

we have a ceo who has long overstayed and can only destroy value going forward until he is fired. Share price is lower now than last year as the business value is lower i.e. profits are lower as a multiply of debt. Last year they issued profit warning as they said 2-4% growth, this year they have not made any statement other than debt will be lower, so �1 reduction in debt will meet expectation. Pension contributions are �15m less this year, so profits must be less if same debt reduced as last year. banking covenants must be broken ( reason for more bonds issued). The markets are punishing the share price for DECEPTION. to get debt to profit levels back to normal levels will require a rights issue, but the company will dither and delay this as much as possible, a new ceo will be required to return confidence. Remember just after last rights issue the debt to profits was 3.1 times, now it will be much worse than before the last rights issue, we'll find out how worse on the 15th, i would guess well over 4 times.

just comparing for first half with last year. We have been told trading profits are same, but they failed to mention there was no or little marketing spend in first half of this year, last year marketing spend in first half was �14m, so we could be down in profits when comparing like with like, but company is saying trading in line with expectation, so looks like darby is continuing to cook the books to give impression all is ok. We still don't know why the bonds debt was increased, when according to the company debt is expected to fall, could it be they had to replace all debt with bonds, as they were going to fail banking covenants, so has to not borrow from banks, this to me is indicating profits down a lot if faiing covenants, . The company has not issued a profit warning as they believe they can continue to hide bad trading. To increase sales ( not profits), they are processing nissin uk sales through premier's books. Markets hate corrupt management and will punish the share price, are we witnessing this. Romours about selling batchelors to nissin, also indicates there is something wrong and alternatives are being looked at. SMELL A BAD RAT HERE and darby's finger prints all over it. The shareholders will have to pay for this corrupt management.

I think you hit the nail on the head. City does not have confidence in management ability to deliver. Profits and sales are lower by around 20% in 4 years, so any amount of debt will be a problem if city believes profits will slide further, this lack of confidence is showing clear to see, we need a change in management.

What is the overlap of the bond owners and large investors, if most of the large shareholders also own the corporate bonds, then you have the answer. Darby is more interested in pleasing the bond holders than shareholders. Nissin does not have any bonds, but there motive is to just get hands on Bachelors.

Too early to see if he will pay full price. When Darby bought shares when he started, it was not mentioned at the time he would get matching free shares three times over. The new chairman may be on a similar package.

Had high hopes that chairman would clean the rotten house up, removing the gang leader CEO very quickly, but he also seems to want to help himself to the honey pot

can the same happen to day. http://www.bbc.co.uk/news/business-43688742 Deutsche Bank sacks British boss John Cryan after years of losses

the agreement would have terminated on Friday 6th april, so will see what oasis do now as they must feel they have been taken for a ride by Darby. They are good at being activist and know how to deal with useless management, just review their website on other companies who they feel have had a poor governess record and not returned shareholder value. Just hope they have not given up and let darby off the hook.

the purchase price is �99,733 if share price went up 10p, then gain would be �26666 if share price went down 10p, then he would have similar loss, His annual salary must be close to 300k, would he want to risk it or take a slight hit to show he also has skin in the game to assure confidence in the future strategy which darby will have plenty. On the other hand he may as well not invest and buy after bad news, unless it was in his contract that he had to buy in his first 6 months. INTERESTING

3 news items to assess what is happening 1. chairman buys in a closed period i.e the chairman knows more than other investors so in in breach of stock market rules if good news materialise later to get the share price higher. 2. oasis breaks deal to stay on board 3. grocery sales in general doing well, especially cold weather food see link below https://www.talkingretail.com/news/industry-news/grocery-sales-survive-beast-east-04-04-2018/ what can we conclude from this. are the results good or bad bad news reasoning : chairman would be in trouble with fca if he is seen to profit from insider knowledge, oasis ****ed off due to grossly under-forming board, so will pressure board from outside to breakup with nissin getting batchelors. Although the company says they are meeting expectations, nobody knows if this includes lower profits than last year as they never release what expectation is. good news reasoning: The chairman will be under investigation for doggy share buying as darby is hiding good news so his friends can buy shares cheaply.

a few more shares for darby's friends

monday 17th feb 41.5 monday 26th feb 40.3 monday 5th mar 39.5 monday 12th mar 39.6 monday 19th mar 37.45 monday 26th mar 37.7 tuesday 3rd apr 37.5

The ceo has everything covered so believes he can't be caught, probably got friend in high places who have been given handout of cheap shares to keep things covered up. A book may be written in 20 years time on how he is asset stripping the company to benefit his friends.