Member Info for Ejackson

Thanks 1GW. Didn't take long....whilst the sum of the parts has been tweaked down a tad, the upside is still very much in place. After today's RNS, I don't think it unrealistic to expect �2.25-�2.50 in the near term.

Wise words 1GW but I am looking at the share price today by way of counter balancing such thoughts! I have also just read the Edison report that was produced back in July. Putting aside its sum of the parts valuation which can always be challenged, notwithstanding it makes for good reading, they took the trouble to meet with management and observe the operation at first hand with the result that their predicted figures are pretty much spot on. I appreciate it is always easy to dismiss broker reports but it does appear that they enjoy a very cosy relationship and have the inside line. I will await their next report, which I suspect wont take too long to produce, with great interest.

Scary 1GW....different words but same sentiment and sent at the same time.....!

Great minds think alike 1GW. I have just finished looking over the full RNS again and on every level, it makes for excellent reading. I too, couldn't help but think that at this price it may well be our larger shareholders would like to see/ be agitating for some action as you have suggested. Furthermore, with the new man at SPD looking at their strategic holdings, it would not come as a surprise if something were to develop from there.

In fact more than half full and being topped as we speak!!. How long have the patient shareholders waited for an RNS like this? Admittedly I came out but delighted with my timing of a limited buy back. 1GW back too....its just like old times although the huge difference this time is that the clouds seem to have well and truly disappeared and shareholders can look forward to enjoying the upside of Management's guidance on future confidence and earnings expectation. Edison may well have a valuation that can be fulfilled and whilst my initial thoughts were to trade Findel on valuation grounds exiting at �2, I feel there is much greater headroom to look forward too in the short to medium term. Off to Boots to get the smelling salts....

Not long to wait now Skindle. Of late, the market does seem to be giving the Retail sector a bit of a kicking as and when the opportunity has arisen, however, with regards to sentiment being on the glass half full side of things, if we were to have a really positive RNS tomorrow, we could see a dramatic and sustained rise upwards in our SP. I hope my eyesight isn't letting me down in how I am looking at my pint glass.....!?

Dear Mr Watt. Following your last RNS in which you commented on the length of time taking longer than previously experienced for the award of contracts to be forthcoming, please can you update us on the progress or otherwise that the sales team have made. if your answer were to be along the lines of 'still ongoing' I would suggest a trip downstairs from your office to ensure the lights are still on would be appropriate Your sincerely

In fairness Columbo, the debt has been coming down in recent years although I agree, it remains high. If the Education side has experienced a turnaround then that might attract some predatory interest. It's not core and a sale would reduce debt and leave us soley with Express which must have been the business plan for some time now.

Skindle, I am going on gut instinct here as the SP has drifted down to its current level on thin volume and for no other specific known reason. Taking a birds eye view, Toscafund recently topped up at much higher levels and our CFO, with all his detailed knowledge, chose to buy 5,108 shares at �1.96 in late June. The latest update was also positive, so in my humble opinion, we can only look upon the weakness in share price as a buying opportunity. These things happen from time to time and that is why I am back in. In the meantime and prior to what I expect will be a good RNS in a couple of weeks, the SP will be pushed around by bored MM's.

You could well be right Columbo although I thought it was very interesting when the following RNS was recently released: Sports Direct International plc (Sports Direct) is pleased to announce that it has appointed Liam Rowley in the new role of Head of Strategic Investments. Liam is a former equity research analyst with experience in banking and investment funds. He brings corporate expertise to Sports Direct, and will be conducting a thorough review of all current strategic stakes I believe SPD's presence on the shareholder register has acted as a makeweight so I can't help but feel that if they were to sell up, this would also help the SP rise.

Hi Skindle. I made some money on NBrown and sold out into Savills which has worked out well so decided to top slice and simply on valuation grounds bought back in here. I might be wrong, but I sense the MM's are being a bit naughty at the moment and for whatever reason taken it down to this level which if we receive a solid set of figures at the end of the month, and the last update suggested we have every reason to feel this can be expected, should move us back up to �2+

Hello again everyone. I couldn't help but feel the SP had dropped to a level that has seen support twice in the recent past and subsequently bounced to c.�2, so on a value basis, I have reinvested some funds today. My gut feel is there will be better news at the end of November, time will tell....

Recruitment of a new Business Development Manager in September 2016 has led to a marked increase in monthly quotation activity. This has provided access to a number of new and potential clients across industry sectors that we previously did not cover. These are tending to be for larger contracts which, typically, take longer to be awarded. During the last 12 months the size, scope and value of QM Systems' quotes have significantly increased and most of these projects have still to be awarded. Conversion of these quotes is absolutely key to our future direction and whilst I can partially understand that a degree of patience is required to get sign off on larger contracts, the time must now be ripe to start hearing of some wins otherwise questions need to be asked.....All very well hearing about how 'exciting' it all is but lets see the hard cash coming through, that's what keeps the lights on and shareholders happy. Notwithstanding the above, I am disappointed with the lack of upward movement in the share price today, I feel c.5p would be fairer, however, the market seems to have, for the moment, leant towards the jam tomorrow emphasis of the RNS

In haste and unable to immediately check but from memory, wasn't there an issue with the timings of SUMO/ Adien's accounts that caused the delay in releasing the full numbers previously....?

A steady set of numbers in a challenging market. Good to see the lettings side of the business holding it's own too as I suspected it might have been worse. Looks like some shrewdies bought well at the bottom and are reaping the rewards. Still not out of the woods but as a company, it's in a far better shape than many.

All valid points Sain and you may well be right. I know of one large company where their revenue has increased by over 30% in recent months. Whether this is replicated here, remains to be seen. Interesting that we have a new Non Exec with an HR skillset joining us. I liked her comments about the company too.

Not quite sure what you meant by the last post Sain but there is no denying the pressure on the down side in the foreseeable.

Agreed Surprised. The Grant is far from a certainty and should be viewed as pleasant surprise (forgive the pun) should it come to fruition.

Thank you Sain for your thoughts. Turning to the SP, what is your thinking here? We appear to be within a range of 90p to £1 for the foreseeable until sentiment changes one way or t'other. Interesting that one of our major shareholders topped up a short while ago but that aside I think from what you have suggested you believe the balance favours the downside?

Some valid points Sain but the 'stars' will know the market that currently affects them will be affecting eveyone else too so the grass is not necessarily greener on the other side of the fence. They will have assembled their own teams and won't want to walk away from them and jump out of the frying pan in the expectation of alchemy elsewhere -very short term if they do and if they are experienced enough, will let things play out and be patient whilst in the meantime getting busy making themselves as profitable as possible cutting costs as reasonably as possible - marketing being the obvious example. I would suggest that share options would be a good way of tieing in the more forward thinking managers and keeping them happy in these challenging times. Issuing shares costs the company nothing up front and whilst the share price is low the upside could be considerable and wont be lost on those that understand a cyclical business. Patience is not a obvious and natural trait for an agent but even they understand 'buy low sell high!' As for CWD, I would run for the door. Savills in the meantime continue to look a very atractive place to invest particularly given the mark down in SP following their excellent latest update and purchase in the Spanish market. More geographical spread to iron out any bumps in the road and with the euro looking like it will go to parity in the not too distant future, greater upside to earnings. Anything under £10 looks good value to me.