Member Info for Caligua

Last statement was in December, saying 400 stores were trialing Uber Eats

https://www.talkingretail.com/news/industry-news/mccolls-reports-sharp-drop-in-revenue-but-good-progress-on-morrisons-daily-stores-08-12-2021/

Management comment "We expect to meet the market expectations for our FY21 profit after tax and cash generation."

According to Edison the consensus expectation is

Revenue £93.6
EBIT £26.4, PBT £18.9 and EPS 3.40p. At 14.25p this gives a PE of 4.2.

Management also said " Subsequent to 31 March 2021, additional GBP5.7 million (Rs.0.6 billion) collected from a customer in respect of historic contractual claims".

Quite a story!

Many thanks for the RNS today and the information that the breach does not materially effect the results due shortly.

Dear Cakebox, Why has it taken you 13 months to let your customers know about this data breach and why have you not provided details in your trading update and half year report? Surely you should have taken note of the way BA, Equifax, Ebay etc handled such incidents?

Please provide details to your shareholders of the impact of this as soon as possible.

Regards,

A small shareholder

Applied for £5000 through Primary Bid and was scaled back by 25%.

When the shares hit your account they will cost you £3.90 each. The price you get if you sell them will be the current price.

When my application for £1000 on Primary bid did not go through on the first attempt I should have taken it as a portent and resisted the temptation to participate! Oh well it is time to wait for the shares to hit my account and decide whether to average down or exit. I have bought some Just Eat as some sort of hedge as they've sold off quite a lot and maybe could cover my ROO lost in due course.

UPDATE ON VERY SUBSTANTIAL ACQUISITION
IN RELATION TO
THE ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL
OF TELIT AUTOMOTIVE SOLUTIONS NV
References are made to the announcements of TUS International Limited (the “Company”,
together with its subsidiaries, the “Group”) dated 12 July 2018, 29 January 2019 and 1
February 2019 and the circular of the Company dated 26 December 2018 (the “Circular”)
in relation to, among other things, the Acquisition. Unless the context otherwise requires,
capitalised terms used in this announcement shall have the same meanings as those defined in
the Circular.
As at the date of this announcement, the parties to the Acquisition Agreement confirmed that
the discussion in relation to the Completion is ongoing. Further announcement(s) relating to
the Acquisition will be made by the Company as and when appropriate.
By order of the Board
TUS International Limited
Ma Chi Kong Karl
Chairman

Statement issued by TUS on 1st Feb..... An update is required!

Note that about $100m needs to be raised and the Market Cap of TUS is 1B HKD.

As additional time is required for the parties to finalise the debt arrangement for Completion,
and taking into account the forthcoming Chinese New Year holidays in February 2019, on
1 February 2019, the parties to the Acquisition Agreement entered into a side letter (the
“Extension Letter”), pursuant to which the parties agreed, among other matters, to extend the
Completion Date to 20 February 2019, unless an earlier date is agreed between the parties.
Pursuant to the Acquisition Agreement, the parties also agreed that the Vendors shall ensure
that a draft of the Completion Accounts (the “Draft Completion Accounts”) is prepared and
delivered to the Company on or before the date falling 15 Business Days after Completion
(such date being referred as the “Draft Completion Accounts Delivery Date”). As additional
time is required to prepare the Draft Completion Accounts, pursuant to the Extension Letter,
the parties agreed to extend the Draft Completion Accounts Delivery Date to a date falling on
or before 45 Business Days after Completion.
Save as disclosed above, all other material terms and conditions of the Acquisition Agreement
remain unchanged and in full force and effect.
Shareholders and potential investors of the Company are advised to exercise caution
when dealing in the Shares and other securities of the Company.
By order of the Board
TUS International Limited
Ma Chi Kong Karl
Chairman

1318 GMT "In-light of current financing challenges it seems highly likely that Ferrexpo will be compelled to cut its dividend," says Seth Rosenfeld of Jefferies. Although Ferrexpo has $280 million in cash, approximately $174 million of this is held at Bank F&C, which became insolvent last week. Ferrexpo has found an alternative domestic bank to maintain normal mining operations but if F&C undergoes administration, it would bring uncertainty to Ferrexpo's valuation. "We remain on the sidelines," says Jefferies, with a hold rating and 60p target price on the stock. Ferrexpo is down almost 14% at 34.5p. (alex.macdonald@wsj.com)

More colour on why the bank went bust and upcoming elections - CEO/CFO views "Regarding banking risks, generally speaking we're in a unique place and in a unique part of the world, operating inside Ukraine. And I've always said that we generate all of the cash out of that country. We operate in that country and it's necessary to have liquidity to do that. You operate where you operate. And we all know the benefits of operating inside Ukraine. You've got a highly skilled workforce. The reserve is very, very large indeed. It's been there a long time and obviously will remain there but we'll remain mining it there. So you have, as a CFO, certain balance to strike in terms of risks and the rest of it. And the disclosure in the accounts really surrounds the position more specifically but more generally inside the banking sector, which you understand when the hryvnia devalues from UAH8 to I think it's UAH13 or UAH14, there's the series of stress tests take place in all banks in the country. And there's capitalization measures which take place, which have been done in the bank that we use. And then the currency devalues to UAH20 and then the whole thing repeats itself over again with the IMF so you have another series of capitalizations to go". "On the political side, to answer your question, is really my expectation is not that certain. And it is as uncertain as it has been back 12 months ago or 6 months ago. Ukraine is facing local elections in the end of October. So that is where --- not the parliamentary one, but still very important election campaign for the country and for the regions to somehow support or divert the appeal of the politics in the country now." (Kostyantin Zhevago) source: Reuters StreetEvents

Maybe we will get an RNS tonight as management should have found out a bit more over the course of the day.

In August all was going to plan to improve liquidity indicators and partial debt restructuring of this big bank. But there were promises made and it looks like the government don't think they were met. The regulator even issued a positive press release in August as follows. "NBU Governor Valeria Gontareva said that a shareholder of Finance and Credit Bank had confirmed his intention to keep on supporting the bank. “Mr Kostiantyn Zhevago takes measures for financial rehabilitation of the bank; the debt restructuring is on track. We also have the shareholder’s documented commitment to sell a part of his other assets and use the revenues to improve the bank’s liquidity within the agreed timeframe”, Valeria Gontareva said. Being aware of the importance of this issue for depositors and customers of the bank, the National Bank of Ukraine will exercise further control over the activities of Finance and Credit Bank through a curator. In the event the bank fails to meet its commitments to improve liquidity and resolve debts, the regulator will immediately apply appropriate measures." It would seem that "appropriate measures" have now been applied, but how this will affect FXPO is unclear as pointed out by MakinHay. It is quite possible that the bank will be restructured and very unlikely that all the money has disappeared. Therefore I agree it is really quite mad to knock off the entire $174m. There is 10% upside IMHO

Unofficial translation(E&OE) We have a long time working on the program of financial recovery as the management of the bank, and with the majority shareholder - Konstantin Zhevago. 7 months was in a troubled state. During this period, shareholder complied with all the recommendations of the National Bank for financial recovery. Then "Finance and Credit" has committed itself to support the liquidity of the proceeds from the sale of non-core assets and shareholder compliance with mandatory provisions and other regulations. From Aug17 listed bank switched to normal operation - said the National Bank of Ukraine Valeriy Gontareva - National Bank continued daily basis to monitor the situation in the bank. If a shareholder has not fulfilled its obligations - we responded quickly. Today the bank was recognized as insolvent and transferred to the Fund. "   According to the National Bank, the lion's share of bank assets was associated with lending business of the shareholder. "If had to pay off debt and sell assets - the shareholder in due time did not. I want to assure you that this bank is not systemic, and its inclusion in the category of insolvent not a threat to the stability of the banking sector ", - said Valeriy Gontareva.   Note that in May “Finance and Credit Bank” received a financial recovery program, according to which increased its authorized capital by 2.6 bln. UAH (£77M). In addition, in August, it was announced an additional issue of 2.5 bln. UAH (£74M). For due to the contribution of the major shareholders and depositors. To help rescue “Finance and Credit Bank” the National Bank in 2015 has given two stabilization loans - 700 mln. UAH. (£20m) in February and 750 mln. UAH. (£21M) in June. Note that these loans were used exclusively to pay deposits of individuals to the amount of 200 thousand. UAH (£6000).   But these measures were not enough and also a shareholder has failed to fulfill its written commitments to support bank liquidity and standards within the agreed terms, including not reached the recommended indicators of reserve requirements of the regulatory capital adequacy and liquidity.   Recall that the March 2, 2015 the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine regarding liability associated with the bank entities" that greatly enhanced responsibility of shareholders and Bank management in the case of financial institution insolvency. The document established financial responsibility related-party for the damage caused through their bank, and significantly increased the amount of fines that can be applied to the head of the bank. In addition, the Criminal Code of Ukraine was supplemented with Article 218-1, whereby the bank to insolvency proof (if it caused great material damage State or a creditor) is punishable by imprisonment for a term of one to five years, or imprisonment for th

After my bullish comments a while ago I was very disappointed by the results which were far worse than they pre announced with a give up on the full year. I sold yesterday for a serious loss. I will await broker downgrades an the IC view on Friday...

I've been following this share since the IPO (which was richly priced) and bought in as the price dropped. I have faith that management is strongly committed to showing a return to the initial shareholders over time. The first update was disappointing and severely punished. Since then we've been drifting down with the summer lull and a feeling that HSS is suffering from the lack of a hot summer that drives some seasonal lines (ex air con). However, the construction sector is booming along with the UK economy so I expect the second half to be more in line with their business plan. With a forward PE of 12 at today's price and 12 month broker targets of 200p I'm keeping my current position with an average cost of 155p.