Member Info for Fevertreeman

Agree - you and I have followed this charlatan’s journey of destruction and deceit for a while, and it looks like the Ethiopians have finally decided he is as toxic for their future mining industry as he has been for his shareholders. Truly one of the worst CEOs, and they’re a lot to choose from, I’ve encountered in a many a year.

Ethiopian referee about to reach into the breast pocket and wave red flag at the conceited carpet bagger?

SP does not reflect license removal; its been trading around these levels for a while. It reflects the latest smash n grab dilution by Adams and his mob, and the multiple failures to get funding over the line.

....looks quite ominous for Adams. Clearly, a last-minute summons from the Ethiopians, revealing just how out of touch the Board and Admas must be with what's happening on the ground. I am in the camp that thinks Adams is about to be shown a red card. Amazed the share price has not dive-bombed

Seen this many times before where, for whatever reason, fund managers are forced to sell without reference to the underlying investment case. Normally presents an excellent op to accumulate a holding. I am overweight this one already but have been steadily accumulating parcels at or c44 -50p.

from the carpet-bagger in chief

A relief to read that DB says all the furnace issues are resolved and they can get on with the process of manufacturing at scale. Confident tone, and I think that the share price will be marked up this morning and buyers will be tempted back in now the clouds have lifted.

Cheers.....so tmrw or Mon it is then!

Yes, I'm not sure where that came from. I don't recall the CEO or Chairman making that promise - the only commitment I recall was the welcome move to quarterly updates.....

I too am a LTH with an average price of 27p. Nothing negative about my enquiries chum, but thanks for your none-too-subltle put down. Merely expressing my surprise at the direction of travel of the share price (which is in sharp contrast to the direction of operational travel) and trying to spark some debate.

Anyone any thoughts on what happens next. I note that the share price has been driven down by sellers to below the level of the last fund raise (50p). SP has retraced all its upward movement over '21 and is back where we were at teh close of 2020 despite substantial progress, with the odd hiccup thrown in, on the ground. Am surprised that the directors aren't taking advantage of this, given they are not in close period.

The other element to the Serge smash n grab involves French PE group Monterfiore that took a 7pc stake in autumn 2020, at which point one has to ask the question:
1. Why would they build an 8.5% stake only to allow SC to take it private at a risible price?....and the answer has to be either
(a) they intend to hold out for substantially more, hopefully backed by the other big institutions OR
(b) they are allies of SC, and the next link in SC ensuring top dollar for the family, as in Tibergest Singapore take it private (and SC intends not to change things a jot to the operations) and after a suitable period (i.e. once the dust has settled and SC thinks the coast is clear) he offloads the whole thing to Private Equity who pay a decent premium .....

Back on 24 June I wrote this post the board changes...."Board changes look very sub optimal. All mates or relations of Serge - no wonder the share price dropped 5%.....increasingly looks like this is being positioned to come off the public markets with a bunch of financiers as NEDs. Very underwhelming news"

It was obvious to me then that this was SC's game. However even I didnt think teh arrogant Frenchman had the guts to present this crock of **** as the appropriate value for this business. No wonder the NEDs put out that statement! He has an appalling governance track record, and view shareholders as idiots! Lets hope theat Schroders and the others figure hard to prevent this outright theft and ensure that he pays the proper price to get the the astounding cashflows this business generates.

SC has always been something of a bandit and I always felt ultimately that he would try this, and Covid gave him the perfect cover to reach for his playbook, and plot the moves. All this was done with cover being provided by teh pandemic crisis for which s/holders paid the price. His moves were there for anyone who cared to see them:

1. Put out gloomy announcements, cut forecasts & shelve dividend. Then as things pick up dont frighten the horse by being too bullish which would really drive the sp, but release carefully calibrated RNSs always with the "we remain cautious about the future "line whilst gently raising forecasts (note: this must be below what he actually expects he can achieve)
2. Meanwhile use covid to force restructure of the business in anticipation of taking the group private
3. Make changes to the board to ensure daughter & allies in place before the smash n grab is announced
4. Invest in laundry and make bolt-on acquisitions like the pizza business etc

"....for a venue, which will be near Waterloo Station, London!" This is straight out of Lucy Kellaway's regular **** take column in the FT. I mean you couldnt make this **** up.

So what Harry we all gather under the clock or we rush you on Platform 15 as you take a fast train out...what a pathetic, useless, clownish waste of space the leadership and board of this virtual company are. Please, please Ethiopians put us out of our misery....

Only way this charlatan should be meeting shareholders face to face is in the stocks. Locked in so we can chuck worthless share certificates and RNS announcements at this hollow individual

than follow the bulletin boards on Adams. Perhaps he has the same bad feeling about this as LTHs, esp now Kefi is a long duration asset, i.e.jam and jam tomorrow and exactly the sort of 'penny arcade' share that gets killed in this environment of risk-off investing on back of rising interest rates,

because at the moment long duration stocks are being hammered (with more to come when interest rates start moving), and there are clearly a few nervous holders (or one) here given that there has been consistent selling for weeks

Adams has completely wrecked this 'company's' future with his appalling greed, consistent lying, and utter contempt for proper governance and those who pay his fees. Only way these assets get monetised is with him out of the way. The Ethiopians,having read the latest ridiculous RNS, surely must be considering removing his license. And the Saudis well I cant believe they are stupid enough to get into bed with Adams w/o having contingency plans to pull the plug on his lifestyle shenanigans

What I was actually pointing out is that with a normal minimum dealing size of 300,000 and 10,000x the number of shares issued courtesy of the scheister, it is going to be pushing water up a hill to get any meaningful momentum going.....no market maker is going to warehouse lots of stock on his books knowing HAA's reputation for lying, and his inability to move the business forward. They are going to super careful not to have capital tied up in this hologram of a listed company. Even if they do start to feel more comfortable they know the stock overhang from embittered and disillusioned LTHs is so ginormous that at the sight of any tangible good news, the spread will go out and they wont be making a market on the bid for fear of being swamped with shares.

"Whilst the total Group production showed no growth in the year due to natural declines and the Louisiana wells shut ins for most of year....................." sums up why this is such a dog. The argument about well its ok because the profits are better because POO has done well just don't hold water as POO could equally reverse ferret.