Member Info for CJ66

Mmm...I'm not sure their probably quite so delighted and laughing as you think.
More like sleepless nights and how do we get this sorted as quickly as possible before raising more money becomes a greater issue as well, as feeling that current backers are not sitting comfortably either.
To my mind the reputational damage here is not to be understated and some of this can become self fulfilling as it wears on. The £20 is looking a long way away until the pudding monies come in!

Just like this bit from the Standard 5 days ago!
Carson Block told the Standard that he did have second thoughts over the tweet. He said: “When I saw the share price drop I was thinking I probably shouldn’t have done that.” However Block stands by the report that sent Burford’s shares spiralling.Apparently he initially made circa £12.3m....now you see why he doesn't care for long!

Great sentiment Rachel for Burford and MW to 'get round the table' together,
but I'm afraid it's a bit like asking Trump round for tea so we can sort out Global warming.
MW like Gotham are totally Machiavellian and it's the way they do things, no openly discussing about it first.

Thornhill - you're right on Gotham and Quindell - but Quindell was suspect for a long time with a number of questions being raised and not answered with Rob Terry trying to retain overall control of an idea without a management clue. I remember looking at it well before Gotham and thinking it was far to fickle. Everyone has their own opinions, but here I think it's different and far greater management nous - the main danger being keeping sufficient management to control the companies meteoric growth. Hence the unfortunate opportunity for these attacks - good article on Muddy Block in the FT this weekend - says it all in his own words in the last statement - "over the medium to long term, if the activist is wrong, the company is not going to stay in the dirt" - In other words I have no morals and don't give a wot not for anyone else or how I act - Great for the world - I wonder if he believes in global warming?!

I think your right Gubba. Although they said they would consider it I don't think they want to as they want to use the money to keep investing in cases, however this new attack will certainly make it a better possibility at the price / support.
It seems a bit baseless that they are now almost attacking a) having debt as wrong and b) related peole - I've had some of my best returns from family managed companies i.e. S&U from £5 to £20 when for many years the Dad was Ch and twin sons CEO's - nobody seemed to mind that!
It may make Burford spruce up the Non execs as they have been for 10 years, but I've always been aware as they have pointed out that this litigation will lead to lumpy profits and winners & losers - with our support as long as they keep producing more winners than losers - same, but different from any manufacturing company producing new products and using debt to grow etc..

Shows exactly why it was right about the fuss over Directors pay a little while ago.
Rather than think of ever clever ways to award themselves more elaborate remuneration or fix pay to fit low thresholds - try managing - I like OTB but I'm shocked with this (another) profit warning as if it was inevitable that currency would drop with Brexit and the Trump trade war.
Are they unaware of what their competitors positions were, and have they never thought of hedging an amount of currency - maybe I'm missing something but they have a brilliant idea, but management wise are asleep at the wheel ?!

Careful Calamari - your beginning to sound like them as well - 'usually correct',
just as they said 'arguably insolvent' - it's a different bag when proving for example the Chinese company - many on our market were quickly exposed as bogus.
I will admit though considerable damage has been done now to Burford as their will be loads of sellers on the way back up as they picked up (foolish + automatic trades) from peoples dumped stock on the way down.
Despite the wishful thinking I doubt they will ever really get hold of MW - why are people & the systems so easily moved / manipulated is the question they should be looking at.
I have been investing for over 30 years and this has happened now on several good companies I hold, 1 of which has taken nearly 3 years to recover the price. This just wasn't possible years ago. It's not Aim - it's about how information can be used, combined with rapid trading methods - which seem to have overtaken our ability level to sort good from bad.
Last night I saw a programme on gambling and somebody employed 44 people just looking at data driven weaknesses in the big gaming operators using just football gambling information manually inputted by 100's of Russian people. If that's a modern business then I'm Gunga Din!

Problem is does it become partially self fulfilling - closed access to raising money by equity, probably bonds and it's known Peterson will take ages to collect even if won. Meantime your option may be to cut the amount of cases invested and await for more returns - but this will cause a slowdown of profits and the detractors say told you so etc etc....

Welcome to the new real world - full of bulletin boards, automatic trades etc,
but interestingly you know probably even less than you did 25 years ago - you have just speeded up the communication and process 100 times faster and we can't cope with it.
The danger now is that whatever is true or not, some of it becomes self fulfilling. Earlier in the year Victoria was subject to this sort of speculative rumour, selling etc and dived from £8 to under £4 - The share price had probably got beyond itself, and they were about to issue a bond - so were a relatively easy target. They had to withdraw it costing the (small) company and shareholders over £7m. They are happily running as usual now, nothing ever proven, making sure they double clarify every announcement, but it will now take every bruised innocent party several years to recover. Was certainly a lesson to us not to ever have too big a % of your shares, however promising, in 1 or 2 companies - the technology wags us all, like it or not!

Absolutely agree Stockable - but it's not just aim companies -it's any where the management seem in a hurry to sell, usually when their position is compromised as to whose side are they on.
I think it is by circumstance more prevalent with smaller companies often because of larger director and more concentrated external parties holdings.
It can go the other way - look how fiercely MP Evans fought off a bid because the management was hostile to it.
When compromised it should be the Non Executive Directors who step up to the plate and defend shareholders interests - but how many of them are worth their salt vs collecting trophy payments in an old boys club!
It shows the share register should be a consideration when looking at a share - even though a large holding can flop into one camp or the other in terms of a possible takeover approach.

Seems harsh as results better than expected after warning, and much of extra spending due to Brexit stock building and sensible strengthening of systems, storage and sales personnel and marketing. Sinking pound should also assist abroad...
However I can understand credibility shot after failed bid, Directors very poor signal of selling shares and poor short term orders.
Could now be in the opportunity draw for a longer term bottom dweller - that ventures to the surface again in about 24 months time!

Why do they accept this? - they will see the business and their own careers enhanced by this.
Someone else? - As it is agreed by the Board + a fairly large % already in favour + a more speedy process 'scheme of arrangement' - I would say the chances of somebody suitable having the time and ability to structure plans to make a counter proposal work are pretty slim. Unless somebody is actually waiting in the wings, and despite the low ball long term price, I would sadly rate the chances as only circa 10%. The offerors will have also weighed this up in the offer price to. Pessimist but realist unfortunately - as I have held since circa 18p!

...and full circle that's why it was an easy low premium offer, likely to succeed with us left as bystanders. Too often the management are compromised in the offer 'of seeing the big lights' to be a large player quickly - and of course the big company naturally wants to dangle this carrot whilst at the same time get the lowest price and maximum payback!
Great shame for long termers - another steady growth stock. Look at a share price graph for it over 10 years and you see it has a bobbly but steady up line from 10p to £1.20. It was 70p 3 years ago, so no favours being done with a take out at £1.40

...and a bit disappointing that people are obviously happy to let them buy up so many at 30p or below (down slightly today despite the RNS).
As we are all saying - get those final accounts out....warts and all.....and hopefully we can put a fuller valuation here!

It's both a shame and long term ruinous to PLC's that they operate like this.
Todays notice basically sticks 2 fingers up to shareholders 20% against Remuneration policy and pay reports. So for example the CFO's 42% increase on already high pay is ok if he has some more responsibilities + increase in the amount of incentive shares (given for free), not mentioning the extra contributions for pensions & benefits.
The remuneration policy is dismissed as being over 80% in favour - but just think what it takes to get institutions and nominee investors to 18.2% (probably worth x4 this figure individuals views).
This giant view of covering up with market rates (they make up patting each others backs to create these rates) and our view that we could all have a 'maximise alignment' given free shares is a disgrace.
We can't do much individually, but I would encourage all to vote if possible (I can on the ii platform) against such largesse, before the pendulum mass returns to take the whole system down - I'm not actually left wing, but the current system isn't fair and doesn't work, and the lovely elaborate pretty illustration didn't cut much ice with me either!

On a contrarian view it is becoming worth looking at many of Woodfords listed shares.
Everybody is just saying 'Woodford holding - it has to be a sell' - but this is nothing to do with the companies themselves. If you do a modicum of research and think it's a good company then this offers a false short term downside - buy some and pop them in the draw for a while - I've just done so this morning with Burford, and the other day on NRR.
Just a view, but plays stock market at it's own game rather than worrying too much on shorters, aim market etc...

Just to balance both sides - great to have the dividend come through today,
plus AAZ does also have a 'jam' tomorrow story - that now fortunes have turned, they have the money for the exploration, and at this rate, rapidly collecting for it's development too.
Whilst it will obviously follow the price of gold, and may have to digest substantial price gains, it has a much higher bottom line now, along with a very low production cost + future prospects.

...and remember the dividend guidance looked to at least be maintained which is near 7.5% at current of 2.1p - maybe Bayford also saw this as part of a no lose bet - stake for an eventual takeover or profits / dividends way above what you could normally earn?

To add to your point Volcano - the crucial point was that when they had that huge debt and were nearly bust, the chief exec put his own money in instead of a dilutive value destroying rights issue.
This double danger not only pushed the price to 5p - but has now meant the real upside is a relatively small amount of shares so that the profit drops straight to the EPS.
As an example of wealth destruction look at Vast resources which issues shares like paper - which is fine until you realise - try dividing AAZ's profits into over 8.7 billion shares that Vast has now issued!

Dead cat bounce coming?
There must something more going on - It's dropped from 70p a year ago,
and from 50p to 30p since February,
and that's before todays slightly curious announcement - i.e. why so late to notify and merely complexities - drops like a severe profit warning - I don't believe the companies explanation was obviously that helpful !?