Member Info for CentralCashier

I took a gamble at this at just below 40p last year and made a decent return. So I track this company quite a bit with a view to potentially making more money in the future, my personal view now, is that of Helikon Investments Limited. The accounts have just been published, and the main stats are:

Soft flooring UK and EU down £70m

Ceramic tiles down £70m

AUS & USA down £16m

So net loss in turnover of £156m

Net margin DOWN by 3%

Free cash flow down from £35m to (£36.2m)

Pre Tax loss £266.8m, (2024 116,9).

Total net debt £1.183bn (a large portion of this now at 10% interest)

Also something very strange in the accounts, "Exception impairment charge" at £186.4m, basically a markdown of stock values, this is insane.

The company has also sold an asset/building in Belgium for £30.4m and leased it back.

Directors re-numeration:

Geoff Wilding withdrew £1.2m (2024 £69k)

Phillipe Hammers £1.65m (2024 £2.863m)

Brian Morgan £746k (2024 £419k)

Why has GW all of a sudden withdrawn £1.2m after 2024 was almost nothing? Especially considering the market environment, shareholder loss etc.

Also, the report lists the disposal of the ceramic tile business in the EU, but does not list the disposal of Hannover Flooring Ltd. Victoria ceased holdings on 28th June 2024, but there has been no release about this.Other than a small footnote in the auditor's report "Hannover Flooring Limited has been disposed of within the current period". And a "non cash charge" of £3.5m, it looks like Victoria made a loss of £3.5m disposing of Hanover Flooring. Didn't the owner or his brother also purchase a load of shares in the company for a TR1? Suspect to say the least.

Going into a period with higher debt rates, weak market demand and a net cash position of (£36.2m) and almost 10% interest and a debt level in multiples of the market cap. Agree that this is very much a Wood Group scenario, debt is out of control. no profits,to pay down the bond. Bare in mind 2020-2022 was one of the highest in demand for floor coverings, there was no dent made in paying back the bonds that were at 3%. With now almost 10% interest and weaker demand what is the long term plan to pay these bonds down? Bid price on the 2028 bond is just 23.95 currently.

Make of this what you will, DYOR.

If you know how OpenBanking works (if you are invested here and don't know I suggest you take a look). It means, as per the RNS "It enables customers of any UK bank to 'plugin' a Conister Bank overdraft to their primary current account, without anyone needing to switch banks".

So say you have a Lloyds, Santander or whatever account, you can open your online banking with your current bank, and access an overdraft from a third-party lender, without the need to effect your current account/bank. This service is not just for Conister customers, they are just the ones providing the equity and taking on the risk for every UK consumer who uses a bank that supports Open Banking (they all nearly do).

Again, look into TrueLayer, they provide OpenBanking as a service for many UK retailers and banks, and they are probably one of the most valuable private companies in the tech sector. They now process over $10b (billion) of payments per month.

The growth potential here for FIINU is massive.

I wonder if we re-rate to 20p today in light of the RNS, the small free float of shares would lead me to believe we could be above 20p before the announcement of the first major UK bank is named.

Good news for everyone (except Arrow street Capital).

Slightly concerned with the influx of new posters on a day with no RNS, always sceptical of paid promoters but Cedric doesn't strike me as the type to be involved in this sort of activity. Unless anyone involved in the last placing is employing some rampers, have to hope its genuine but does make me nervous considering after some fairly impressive RNS's and presentations the SP has remained flat...

Its just the spread, there is no real selling going on.

OTCQB is a waste of time. Serious US investors can deal in any market they want, just as we can.

Cancelling warrants is a very bold move from the company, they seem to know where this is going and are taking the pain early on to reduce a future overhang. Very promising.

Some serious director buys just posted.

Its a long term play which doesn't tend to excite a lot of people, but if you can take a 2-3 year view this is a fantastic opportunity.

Edit..

So the NPV according to the desktop study is £283m (which is a cautious estimate), almost $4bn sitting in the ground, before extraction costs. No wonder the USA Gov is interested in doing a deal.

So the NPV according to the desktop study is £283 (which is a cautious estimate), almost $4bn sitting in the ground, before extraction costs. No wonder the USA Gov is interested in doing a deal.

Yes, TW tip.

More sold than bought by a decent percentage, yet we are 10% down, got to love AIM.

£20k buy at 16.50 at 1pm, then two small sales to bring the price down, got to love Aim. Its just short term.

Was over 10% yesterday, now just 3%, would seem they are trying to encourage sells.

A large portion of these shares are owned by just a few individuals, so the free-float is very small.

Fiinu is an open banking provider, most of their tech is around open banking transactions. FX/trading companies make hundreds of thousands of open banking calls per day, each one generates revenue. The synergy that FIINU can add to the brokerage is huge, especially with their recent growth.

Dont forget pre-placing we were trading at 15p

Independent banks that would actually benefit from a plugin overdraft, with a strong digital presence would be?

Its got to be an independent (by the RNS) UK based bank, that has a strong digital presence, with a high percentage of customers that would benefit from a plugin overdraft. And a bank big enough to kick-start a 1000% share price increase prediction, again as published in an RNS. I would vote possible contenders to be:

Monzo, Revolut , Metro, Starling.

Revolut is the only bank above that does not currently offer any overdraft facilities to its customers.

Good DD Ace, so we are around £1.3bn in debt, at the top line, excluding any overdraft or other debts that are mentioned in the accounts.

It’s also worth noting that non trading companies in the group are still listed as having lots of stock at list price, although I’m sure this is being used as dumping ground for dead stock for the “core” businesses to maintain a higher margin. I was tempted to dip back in when it was in the 70s but just seems to risky, I see the 2028 bond has still not had any interest.