Member Info for CaneToad

It's incredible to see Norges take a 3% stake, but even then the share price still slides. It's looking like good value from here, but I'll be waiting on the sideline until it slows after losing a wad on this in the past, to manipulators.

Most likely scenario I now see is that there's a raise to settle the claims and Hay Wain will be the only one to participate. Second most likely is that the claims are manageable without new money. It's impossible to say which.

The market has made up its own mind. Market Makers are not keen to be holding these either.

His actions were absolutely despicable.

- FCA did ZERO
- LSEG did ZERO

But I expect it's going to be a while before he shows up as a director of a PLC again.

If there was something positive to say re: complaints or financials - they would have made it.

I'd planned to jump in here, after results. Now too dangerous. I can see if drifting much lower over a 3m delay. I've never know a delay of results to be positive.

@erratum, looking back over your posts, it's crystal clear that you are some sought of insider. In contrast to me: a genuine investor in many companies. Nobody that has been here for a substantial amount of time, with a substantial investment would defend the Ince management. They have destroyed the value of the shares on every possible time scale. 75% down from the most recent high. That is due to sheer incompetence, arrogance and disrespect for shareholders.

I worked in the broking business for decades. I am not a lawyer, but I know the business they are in. There is absolutely no logic to the acquisition or to their justification for it. At best, they have halved the value of Arden. Clearly, this deal is about more, but I have no plans on sticking around for more of this nonsense. when insolvency is a real option here.

Good luck.

@erratum, you're absolutely right. I have no knowledge about the legal profession. How many investors have qualifications in each area in which they invest? What a ridiculous statement.

You have no idea what you're talking about, making comments about how others research a share.

'I am more than a bit curious on what basis you underwrote your purchase of Ince shares' ? what sought of gobblygook are you talking about and what business is it of yours to know how people are investing? I invest in an ISA/SIPP, like most UK investors.

"The article in Rollonfriday on 6 May (link provided by tshaw2 below) was already disconcerting, but some of the comments - apparently from former Ince employees - are even more so."

Those comments on RollOnFriday, Facebook, Google and 'Review Solicitor' paint a terrible story. I wish I'd come across that material before investing here. When *all* reviews are terrible, there is something wrong with the company. It seems that the CEO has no idea how to fix it or is totally out of touch. Perhaps he should step aside for somebody else.

How the heck will they attract new staff?

"Cardiff is principally a back office location for the group and a very limited amount of legal work is done from there. Final point John Biles did not resign he retired, he is 83 years old."

I don't care what type of office it is. I want to see excellence everywhere. It's bad optics to have those reviews come up in multiple places. It can't help the brand.

Regarding John Biles, I don't know the real story, hence my caution in saying that he 'supposedly' resigned 'according to ... rollonfridays'.

Thanks for clarifying the situation with a takeover.

Reviews for Cardiff office:

Facebook: 1*
Review Solicitors: 1*
Google Reviews: 1.5*

These reviews matter. This needs to be fixed.

My biggest concern here is that the partners take it private. Unless I'm mistaken, all they need to offer is the highest price in the previous 12m. If the share price hangs around at these levels long enough, it becomes a significant risk. I'm tempted to buy more at this level, but I'm not going to. It's too dangerous at the moment. There could be real damage done to the brand through the restaurant incident.

I am not impressed to see the Gordon Dadds, Cardiff has a 1* rating on 'review solicitors' (based on 6 client reviews). And there is clearly some element of truth to this restaurant episode, given that John Biles supposedly has resigned - according to the legal site rollonfriday.com. As a public company, they should be concentrating on getting a 5* client rating rather than spending £1,000 on dinner.

Financially, I think there's value here *if* they can stop the constant bad press and keep an even keel.

(I mean, percentage of ADV)

"Not seen any stock not do well on buybacks."

I've seen lots do well.

How can extra, guaranteed buying be a bad thing? Note, there are very strict rules about what can/can't be done during a buyback, including percentage of VWAP etc. Yesterday was also a day of low volume, making it even worse.

The situation with RMG is totally different because it has significant and rising institutional short selling. Without the buyback, RMG would be a low lower.

"...although the market doesn't seem to care."

It could also be that the market does not yet know...

It could be fake - yes.
I don't know enough about it, but came across it by chance, when doing some more dul-diligence this morning.

And:
"Nigerian govt declines approval of Seplat’s $1.28bn Mobil Oil acquisition deal"
https://hallmarknews.com/nigerian-govt-declines-approval-of-seplats-1-28bn-mobil-oil-acquisition-deal/

Looks like the deal is off.

Also:

https://nairametrics.com/2022/05/19/seplat-1-28-billion-acquisition-of-mobil-oil-assets-suffer-major-setback-as-fg-declines-approval/

"The federal government declined its consent to the proposed acquisition of oil and gas assets belonging to Mobil Oil Producing Nigeria Unlimited (MPNU) by Seplat Energy."

https://www.thisdaylive.com/index.php/2022/05/19/fg-declines-consent-to-seplat-mobil-oil-producing-assets-acquisition-deal/