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Hi Toff thanks for those kind words of appreciation you are indeed a fascinating character and so modest.
I have two purpose on this site , one is to provide accurate information on the mechanics of the market and informed comment on current issues and the other is to seek to lower the bulls**t quotient by identifying those whose contributions are either irrelevant or positively harmful to constructive debate. I won't bother you anymore as I feel I have adequately achieved the latter.

Hi Toff I've have had a fun afternoon compiling your greatest hits- here they are ;
9 March RDSB your post "Don't expect a dividend cut anytime soon...." 30 April news headline SHELL CUTS DIVI.

8 April AV price then 240p your post "the share price will take a howling dive...." SP now 296p
17/4 CNA price then 31.8, your post "I'm going to be bold here - Centrica @20p..." SP now 41.9

I offer you the chance to provide some more relevant quotes than" I am rarely wrong,

Toff to be fair one of your predictions on RR will be right ,the SP will either go up or down.
The same is true for your predictions on the BT board
On29/9 you said " My take on BT is that it's near a historic low and will RISE substantially ...
On 29/9 you said " intuition tells me the line of least resistance is LOWER....
One of those will certainly be true .
Now I've got one. You will either shut up and go away OR you will continue to tell us all how wonderful you are .

Toff You should be aware that anyone can read your posting history
Today 12.12 you said "I also predicted the SP would rise after the RI"
On 2/ 10 AFTER THE RI WAS ANNOUNCED you said in answer to the comment - you don't know what the SP will be.
"I've got a good idea -It'll be a lot lower" !!!!!!

Like all the rest of us you don't know where share prices will go , some of us have enough sense to recognise that.

The last few days have added £1.5billion to RR's market cap. That makes the ratios for debt much less onerous and also makes the RI look like an absolute giveaway to existing holders. It is well known that the underwriters sharply lowered their positions in RR before the RI was announced(insider trading but nobody now seems to care),that flow of shares on to the market was , probably, at least part of the reason for the fall in SP in September. It now seems that the market has had a change of heart , and by that I don't mean PI's , we are , collectively insignificant in the scheme of things, rather it looks like institutions , think that RR , in its present form will survive and that buying to take advantage of an underpriced RI is a good move. It's not all good news however , because some of the buyers, like those here , are looking for a quick buck and that means there will be selling after the rights come to the market. None of that bothers me as my time horizons when I buy are measured in decades unless something major happens. I suspect that air travel will still exist in decades to come , indeed in a world which returns to something near-normal , hundreds of millions of Chinese, Indians, Russians, Brazilians will wish to fly on planes powered by Rolls engines, which will become electric in a few years.

Brown, it will adjust on Ex-rights day ie at the end of the last day on which rights apply, which is the 27th, according to the timetable in RNS of 1 OCT. So whatever the closing price on the 27th it will start to trade on the am of the 28th at ~55-65p approx

Brown - It's never that easy. For a start why should the SP be £1 on 22/10, if you apply todays price ie 3x160 ish your calculation fails. The point being the markets may be irrational that's not the same as stupid, the before and after rights price will directly reflect the cost of the components, any variation depends upon news flow, macro sentiment, interest rates, a vaccine ...... and an infinite number of unpredictables.

Jimzi It appears to me that what KMK have been required to do by the auditors is to write off a sum of ~£13mill which is the expected revenue from contracts with Chinese companies , who , it seems are in financial trouble themselves and hence have failed to pay(despite visits to China by the company) for goods ordered and manufactured for them by KMK. If the various reports are true , KMK still have the goods , or the capacity to make them , but of course now need either clarity that the contracts will be honoured by the Chinese or different customers found. The accounting position is a worst case , and as is pointed out in the accounts creates a tax loss to be held against future profits . Thus this is an accounting convention , not a real loss of that amount, which may be recovered in full ,or in part in the future and will embellish ,future years bottom line by a lower tax burden(see item 6 of accounts). KMK have treated this in a sensible manner, getting all of the bad news out of the way in the hope that future years accounts will look markedly better.

Correction calculation is 3x158p+10x32p=61p approx

The rights are to buy new shares at 32p BUT after Ex-rights day the share price will fall to about 60p so each right is worth 60-32p ie 28p approx.
The 60p value is based upon 3 x the SP on ex-rights day (158p?)=10x32p/13 =61p

Yes you are correct , the rights are available for you to exercise for a limited time only. You MUST either use them to buy new shares at 32p or Sell them in the market . On ex -rights day(11 Nov?)the share price WILL fall and your rights will become worthless. After 28 Oct you should see an entry in your account showing 29000 rights(something like RRR or RRN) at a value of ~28p., they are yours to dispose of as you see fit. In some cases arrangements are put in place to automatically sell rights on your behalf if you do not exercise them - I do not know if this is in place in this case, but it should be announced if it is the case- watch for a further RNS .I will post her occasionally in the interim and explain if necessary.

SALE ....The share price at the moment includes the "right" to buy 10 new shares for every 3 you hold at 32p, because of that discount offer the current SP is artificially inflated. You are not "forced" to buy the new shares at 32p , for every three share you hold you will have a "right" to buy 10 new shares at 32p BUT those rights will be a tradeable item on the exchange and will appear in your trading account .Initially they will be valued at the difference between the SP and 32p.You can , if you choose SELL those rights in the market and retain your current holding , or use the value of those rights to raise revenue with which to buy more share (called tail swallowing).
From your post I assume you now hold 9000 shares , that gives you 30000 rights if you still hold on 28th(?)Each right should trade at about 28p(will change as the SP changes)on Thur 29th.You can , if you wish sell those rights for 30k x28p or any portion of them to raise cash to exercise the rest.
All other things being equal the SP on "ex-rights day " should fall to about 55-65p
If this isn't clear reply and I will seek to clarify

55-65P

Chilting I fear he is unable to distinguish his rectum from his cubitum.

I have had KMK on my watchlist for months, convinced that they are in a growth area (and partly 'cos as a Geordie I like to invest local). Todays figures and the resultant temporary 20% fall (wildly overdone)prompted me to buy . Whatever the rights and wrongs of the failure to reveal the accounting issue have little to do with the company's long- term future , which is very positive, it has a number of multi-year contracts in place with revenue streams highly significant for a company of this size and it's business offerings are in a "sweet spot", terrorism isn't going to go away , nuclear power and its implications are widespread . despite the UK's reluctance (though see todays news about mini-nuclear reactors)and the detection of airborne pathogens is likely to expand rapidly. The company needs to do two things , one sort out its revenue recognition approach and two, be ready to expand production to meet a rapidly growing demand. If it can do that then rewards for the company and its investors are assured.

Advice for free :

DON'T

I have been an investor for some time and can't recall any RI having this sort of positive effect on the SP. On the face of it , it may be no more than relief that RR are addressing their obvious cash flow problem and a feeling that the RI and associated debt raising is adequate. In this regard the debt terms will be a crucial signal as to how the good debt markets feel RR's chances of long-term survival are . In simple terms ANY successful debt raise is good news , after all you don't lend to a company you think is going bust. Almost as important is the coupon (ie interest rate) on the debt and any covenants (ie what the lenders want in a default).
The Sharp recent rise in the SP is very positive, the city whispers are , presumably, that the package is big enough to see RR through and the loans will be forthcoming, and critically , can be serviced by RR's cash flow or cash reserves.
The rise in SP now suggests an ex-rights price of about 62p (cf 55p at the announcement). So those taking up their rights can expect the ex-rights SP to be around 62p or about 1p higher/lower for every 4p move in the SP before then.As a planned LTH, I will take up my rights, and may even bid for more depending on SP action until the allotted day.

I have , however sold out , banked my 50% upside and w ill return when the dust has settled , maybe a few weeks , maybe a while longer. Others may ride out the issue, you pays your money......
Posted last week

Oracle .... definition " A giver of wise and insightful counsel....."

I started trading in 2001........but you clearly haven't quite got the hang of it yet .
Your recent posts include the following:

12 August IAG (price then216p)I expect this to hit 360........now 97p
21 September SBRY (price then194p)"this will be sub 190 ...and after a bounce will fall like the proverbial stone...now 196p
18 September HOTC(price then 385 a 6 month high) ... 420 IMO now 330p
With a track record like that a bit of radio silence might be sensible!!!!

The timing is almost certainly in response to OCDO's recent rise in MC .Given that the question marks about whether OCDO owned the patents to their system have been around for a number of years and these issues could have been legally raised long ago. I suspect that Autostore have now decided that OCDO are big enough to be willing to reach either an out-of-court settlement or accept losing a patent battle and be forced to pay either a capital sum or a percent of profits(??) to Autostore for use of any disputed patent tech.
This will affect the SP in the short term , but at some point equilibrium will be restored and OCDO will proceed as a slightly less profitable company than before. I have , however sold out , banked my 50% upside and w ill return when the dust has settled , maybe a few weeks , maybe a while longer. Others may ride out the issue, you pays your money......