George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I admit I'm probably a little biased but I couldn't see what's changed much from the broker forecasts being bandied around. Its winning contracts making profits if you exclude paper write offs of goodwill and otber one offs. It will never return to the size and value it was but it ant going bust.
I am a long suffering holder ofCapita and I intnd continue to hold on. The company is improving , you can see it in the figures, but Ihis latest false dawn re the share price did make me wonder whether a lot of the turnaround story we have been fed by Capita has been exaggerated and thats why Lewis is scarpering.
I move around doing contract work at large and medium sized companies and several have been the victims of major cyber attacks, they can be far more catastrophic than this one has been for Capita but the companies move on and return to normal.
Even the umbrella company I use to organize my pay got hacked and had to stop operations for weeks. No doubt everyones personal details ended up on the dark web which is why you should use multi factor authentication for everything.
It's not a great situation but it's nothing unusual. Many companies are attacked these days and there is masses of information for sale about all of us on the dark web. My email password has been obtained somehow twice to my knowledge.
Equally important to remember that just because one director didn't agree with aspects of strategy doesn't mean he was right. SMT's long term track record is a far more useful guide.
They voted him out! So they clearly disagreed with him.I'd love to see the minutes of the meeting but sadly they will never be published.
The rest of the directors didn't agree with the one who was let go and he is slinging mud around because he got ousted I guess. A fire sale of unlisted stock to "reduce risk" would be a disaster right now just as it was in the Woodford case.
There is lot of pressure on SMT and its directors now because of interest rates but inflation is falling in the US and the UK.
I think the events over the weekend will benefit the large listed banks which are well known to be too big to fail. What company treasurer is going to risk depositing funds with smaller banks where you will be expected to "bail in" to a rescue if it fails and wait months or years to get your funds back?
As the proceeds of the placing are being used to generate growth in earnings via investments and reducing debt I am sure it will prove beneficial.
The share price is down because it might dilute existing earnings per share initially but I think think its a misguided reaction.
This piqued my interest as companies can only pay dividends out of positive distributable reserves not share capital or premium. Vodafone can pay dividends because it has a massive merger reserve created (on the Mannesman acquisition mostly) pre 2004 which is hidden in additional paid in capital. What seems to have happened is that subsequently the massive goodwill and other write offs from these acquisitions went through the profit and loss account creating the massive deficit you can see today in the b/f figures.
As ever with shares its what happens in the future that counts not historic nuances of merger accounting from 20 years ago.
On enquiring why my recent dividend hadn't been reinvested by II it seems most of the latest dividend has been designated as "interest". Seems bizarre to receive interest when you don't have any debt issued by a company.
Of all the disappointing days over the years being a shareholder this is one of the worst. As I have always said the constant deal making is a total distraction from running the business but I have always held on hoping for a turnaround.
Surely Nick Read has to go.
One of my favourite holdings. Just delivers year In year old.
These are irrevocable undertakings by shareholders to sell. Hardly surprising. What if opentext find a reason to walk away? given mfs tecent history of failures I think caution is helpful.
Bids do sometimes fall through. Given Micro Focus recent history...who knows. Just saying.
Personally I'll take the money now.
The last revenue figures were truthfully not good at all.