Member Info for callit

Noticed this in the morning report I subscribe to:

"Two regulators are scrutinising Sports Direct over its accounts and its compliance with rules on inside information. The retailer’s latest accounts have been queried by the Financial Reporting Council over concerns about how its auditor, Grant Thornton, valued its holding in Debenhams, which almost collapsed last month. - The Times"

Wonder if these investigations will then go on to look at the Deb BOD and the pre-pack?

https://uk.yahoo.com/news/20-debenhams-stores-face-axe-155100694.html

Employees sold up the river! This was all about the lenders getting their money back.

It was not in the interests of shareholders or employees to go into pre-pack. Wasn't MA going to save a substantial number of jobs if he'd been given chance?

He's at it again.

Not even just the code but the mention of the time MA had to make a bid should be enough. I remember Tesco giving out compensation a few years ago because an RNS had mislead investors.

If the RNS was misleading then the company should pay compensation and that debt must rank pari passu with the other debt holders shouldn't it?

Thanks guys,

I just hope he has some good lawyers and gets every possible angle covered.
It just seems fishy that there were genuine approaches being made to keep it as a going concern but the BOD pulled the rug out from under shareholders and both rejected them and refused more time for further offers.

I'd be less upset if this went into genuine administration and everything was on the table. Just looks like shareholders have been shafted. IMHO.

I'm no expert on all this code stuff, I just think the BOD has not fulfilled it's requirement to act for all parties here.

Pokerchips,

So you are saying the company was 'sold' to someone else while the takeover code was in effect?
Hope MA can get justice for the PI's too.

Needs another column after 'oil strike'. Zen can strike oil and still mess it up. How much did we get out of the spontaneous gusher. Couldn't make this up.

@Olderandwiser Can't fault what you say on Gyrometrics, but it's Geocurve paying the bills. Approx 1m revenue 57% increase year on year. Gyrometrics is good for BOOM if all goes well but Geocurve de-risks the proposition for me IMHO. GLA

2 big buys and a sell into close..bed & isa?

ISO9001 certification is a MAJOR milestone. I don't think it's possible to understate the importance of the announcement that this is on track and expected to be completed before Christmas.

The thing is, if you are putting components into a wind turbine that will spend all it's time miles offshore you need to make sure that any component has been fully tested and certified since failure out at sea is a costly and time consuming job to fix which may result in lost revenue from a turbine having to remain offline for some time.

My (limited) understanding is that these Major wind turbine manufacturers don't test things in their turbine unless they actually know that they pretty much want what they do. For me the news that certification is progressing well is like music to my ears.

GLA DYOR

Would expect it's not much over break-even at this point, but a corner has been turned here. Gone are the days of heavy losses. GLA DYOR

There's the 1 code. We all know what that means. :)
GLA

The rise of machines, robots and algorithms in the workplace stands to create almost double the number of jobs for the global economy by the middle of the next decade than it puts at risk of being replaced. According to the World Economic Forum (WEF), about 133m jobs globally could be created with the help of rapid technological advances in the workplace over the next decade, compared with 75m that could be displaced. - Guardian

The old BOD over-promised and under-delivered, the new BOD under-promise and over deliver.
Have you seen the video?

You've gotta feel sorry for the guy;
He got it wrong on the way down and it looks like he got it wrong on the way up too.
At least he's consistent.

Spectacular turnaround!

RMS

Slow to get going today because people couldn't find the bloody ticker. On results day too. lol

Very pleased with the HY report. Especially now it's in Sterling. No skeletons left in the closet.

Enough cash for 12 months, Geocurve a workhorse heading towards profitability growing year on year.
Gyrometric huge potential.

Seems we have 2 bites at the cherry. Even if something went horribly wrong with Gyrometric, Geocurve would carry us to B/E and beyond. If things go right with Gyrometric BOOM!

GLA DYOR

Sure was RFTS :)
Looking forward to the next one as well.

Another top-up for me too.