Member Info for Fevertreeman

I think the answer to the question is that Napoleon has fire-hosed the market with share placings over the years so much so that we have a mind-boggling 2.04 billion shares in issue. The market size that mm are obliged to quote a price for dealing in this £35m tiddler is a paltry 20,000 shares. You can see from that that no mm in his right mind would want to get stuffed with stock esp given the fact that most professional institutions are long gone off the register. Levine created this god awful mess, and needs to come up with a proper plan and execute it otherwise we are likely to be marooned for years at this sort of level. He doesn't care one hoot about his s/holders as long as his own private interests are well positioned. Wouldn't surprise me if he takes the whole shebang private having absolutely destroyed s/holder value and milked us dry.

such is the utter lack of trust and faith in Levine. Utterly predictable that any RNS gets the negative treatment given his epic shareholder destruction.

I almost fell off my chair at the 'rumour' that Inchcape plc is Kefi's white knight. S/o really has been on the waccy baccy. Mr Market still has absolutely no faith in HAA and we are relentlessly moving into October. IMO he will still not be in a position to have the financing completed in Oct. If by a miracle he does, the big question will be on what terms and what does this mean for equity holders. His track record would suggest s/holders are unlikely to be popping champagne corks.

equity markets looking distinctly wobbly tanks to Evergrande. Is this the pin that bursts the asset bubbles? Can HAA get sign off on financing before markets crumble? I do hope so for all holders here

Having sold out c80p, I feel that this is now looking good value ahead of results ion Oct 13th. Sp seems to have reacted to what seemed a very cautious trading update exp re. outlook. I think that they are being overly cautious and that net cash £20m equal to 40 pc of mkt cap (c20m) , strong 1H perf, & lots of scope to expand in Europe online etc, it is time to dip my toe3 back in

and there seems no end in sight despite the POO holding up well......

it is clear that s/holders are an inconvenience he could do without but that having a listed vehicle is a fabulous way to enable his personal business activities to ride coat-tail. This new company has of course just the 2 directors, him and his son who is of course Mr IR at President. it is no wonder that advisers don't stick around with all the inherent conflicts of interest and governance issues that this brings. President plc is increasingly looking like a listed private equity vehicle for the Levine family. Very very poor

Incredible isn't it. And no one has convincingly explained why he and the FD are awarding themselves large CASh bonuses as opposed to taking their rewards in shares (thus aligning their interests with those of the shareholders). Still 40 odd pc short of committed funding ......

His track record of delivery for his shareholders (as opposed to himself & family interests) is truly appalling. The general lack of transparency, changes in direction, inability to articulate a coherent strategy, and the recent Atome move all reinforce the strong sense that he's given up on shareholders and is content to use President ,the listed vehicle, as a vehicle to bolster his own ventures. Anyone have a view?

and the rest of the board? it is simply not right that they destroyed shareholder value, spent £10m+ of s/holders funds on supporting action that would have destroyed our interests, did not meet their directors duties , did not attempt any form of negotiation with bondholders, refused to engage with shareholders, and ended up in High COurt. They should not have been allowed to walk away without censure or pursuit

This is poised to be a long term holding in mine and the children's ISAs. Still very much under the radar with a small market cap, low liquidity, and a lack of profile. The call for their services is evident from today's announcement. Much much fourther to run once the market wakes up to the potential of their expertise....

Hilarious! Red in tooth n claw capitalist; never voted socialist in my life; three decade career in the city (fund management); deal in facts not supposition as was trained to do. Just observe the facts: long-term sp trend; milestones missed; governance failures; the comments of auditors; jurisdiction. These are facts.....it is what fund managers base their decisions on. So please don't accuse me of negativity if that coincides with the facts

RNS 17 December 2018 “I am pleased to report that the development plan for the Company’s Tulu Kapi Gold Project in
Ethiopia (“Tulu Kapi” or the “Project”) remains on schedule to start in January 2019, commencing with
the community resettlement programme.

I deal in facts, what do you deal in?

Amateur!

Like BoJo and tax rises, Adams is likely to rinse s/holdrs again imho as he needs to keep the lights on, and who knows when the funding package will actually be signed and the monies in the bank. The guy exhausted his reserves of credibility a while ago, so I doubt he cares what s/holders think about another discounted rights issue

20k at 223p.......not a great reflection on her commercial understanding

SPot on - what has given the professionals a fright is the drop in EBIT margin

1. Macro environment: at mercy of central banks and regulators. Lots of banks have reduced their trading desks, commissions remain under serious pressure and volatility remains in the hands of central bankers.

2. Revenues & margins: Only so much cost-cutting one can do before you start to hit the revenue line, so cutting unprofitable brokers and reducing compensation has been the mantra since Terry Smith was CEO. Quite concerning that mid teens operating margin looks under pressure.

3. Management strategy: Breteau makes 2 bold moves: moves company domicile to Jersey. Technically very savvy as in doing so released cash that the FSA had forced them to hold much higher amounts of regulatory capital which basically cant earn a return . As yet haven't seen benefits. Secondly buys Liquidnet in attempt to recast the growth story and reposition for electronic trading. View in the industry is that he overpaid, and hasn't managed to realise expected synergies so far....jury still out, as per share price decline.... equity raise for Liquidnet was at 140p at a big discount to sp at the time

and the real kicker
4: Professional Fund Managers managing income funds or financial specialty funds DO NOT NEED TO WON TCAP to meet their criteria of financial sector exposure or strong dividends . As s/o pointed out L&G pay a bigger dividend on a more secure business model and regular income stream.

but the 8pc spread makes timing purchase tricky