Member Info for G_G_G

Dartron, I don't think my criticism of mgt here has anything to do with my immense criticism of mgt on the two AIM dogs that have screwed me over. Quite petty to even bring it up.

As for me not knowing things, the one thing I can say is that I know a hell of a lot about the inner workings of this company and the mgt team. I just cannot disclose why. You will need to trust me when I say that none of ExCo are remotely competent, which is evidenced by their 'strategy' pivoting to primary healthcare and blowing a 9-figure sum on low margin or loss-making acquisitions and builds. Primary Healthcare is a far, far worse margin proposition versus their primary business, which ironically was criticised for being too low margin by the City before the strategy was released. I also worked for a huge UK company where we looked at expanding into Primary Healthcare twice, and decided it would yield f'all, and that was before the pandemic.

As for PMI v SP v NHS. The high margin SP market has started to fall down the cliff, albeit a far higher cliff than pre-pandemic. All the low-hanging, older, wealthier patients that required immediate care have passed through the system, with things starting to slowly return to normal as NHS waiting lists start to decline at a decent clip. PMI has also started to turn down. If new policies have peaked and are now retreating, alongside margin pressure from the major insurance providers, there's not a lot that can be done to generate more PMI work or maintain profit. The NHS has always been the safety net when private trading gets harder. But as waiting lists start to decline, the NHS then starts to get the upper hand in contracts and pricing. Costs are a nightmare that the mgt team have never truly addressed, and not helped at all by a h@lfwit government. Basically, the category has started to shift into a far harder trading environment. And the £125-150m spent on low margin primary healthcare and mental health offerings, alongside a poor hospital acquisition, means they have spent a very big chunk of pandemic money to generate very little profit, versus wiping out almost half their debt pile.

Taking this private would benefit from stripping out £5-10m in senior mgt wages and associated costs for being a listed entity. They could also dispose some of the freeholds and one or two hospitals to wipe out debt, which is the biggest anchor on the sp. Then you have a profitable company that will always be able to rely on a combination of private and public work, and have a few freeholds up your sleeve.

But as I've said, at 165p this does become a very good value play as it will absolutely get taken out at some point. This mgt team have almost halved the sp in a decade, and that's with a windfall environment. Quite disgusting that they will also get a nice big set of golden handcuffs, followed by a parachute, when it finally happens.

God, sorry guys. I thought it was 208m and had no idea wtf was going on as it made no sense. This is what an 11-month old can do to your brain without any sleep :)

any thoughts on what has just happened? that's a **** tone of shares leaving kestrel, which is effectively 75% of the total issued shares. not sure how this is possible, unless all the other major holders had their shares locked into kestrel...? any thoughts on the significance of this?

Darton, a little sensitive are we? The 2019 point was to highlight that the current mgt team took over Spire almost 10 years ago when the sp was in the 300's, and in 2019 debt covenants were tested before the Pandemic saved them. And when I say 'saved', it was just that, before 4 years of shooting fish in a barrel in a windfall environment. And yet the sp is now half of what it was when they took over. I also wouldn't trust that funds or any other major shareholders have an inkling of what's happening behind the curtain, given they have been buying at much higher rates than now. Having said that, and as I mentioned in my last post, the current value on offer is very good, regardless of the ineptitude of the senior mgt team.

And you have assumed wrong.

Like I said Stewart, if you could see behind the curtain...

Dartron, unfortunately if you could look behind the curtains of Spire you'd be shocked. The company was close to breaking its debt covenants before the pandemic hit, which literally saved them by having everything paid for by the government, and then being able to take on private work while still being heavily subsidised. The category then became a windfall environment, and mgt used all that pandemic cash to buy low-margin / loss-making companies, and build low-margin / loss-making clinics. Their 'strategic' pivot to building out their primary healthcare offering had no commercial underpinnings, which is why ROE is so poor. Over £100m spent (and climbing) on poor acquisitions and clinic builds, and even poorer mgt decision making.

Having said that, this mgt team have managed to get the share price down to the 160's and it now looks investable.

Hey crl, sorry have only made a passing comment here the past week. Sadly still in TXP with 1.825m shares. Still intend to go down the FCA route and will share once done and come back to the board. I had a look the other day and see that you and Nav are out on your own with SirConsALot. Will be back soon Been neck deep in work and a course that I will complete next Tuesday.

god, i forgot they have hidden away behind half-yearly results as well. i thought for a minute they were in a closed period. turns out they simply couldn't give a **** about company valuation, which is compounded by their silence. i'm going to send them another email, but this time highlighting the fact that they didn't respond for weeks after pis starting asking questions about material non-disclosed information about performance of their nomad. to be forced into providing an appalling performance update is in itself evidence of their complete lack of regard for company valuation and shareholder interests. i cannot stand this mgt team.

I thought we were meant to get results today, at least that's what gemini has told me. I suppose December 01st is 3 months post the last shambolic set of numbers. As for market reaction, who knows with these clowns, but one would hope (and pray) they have gotten all the bad news out for this year. Critically, they need to provide some valuation guidance for DIS so the market can at least get an idea of what they mean by it being worth 'materially more' than our current mcap. Key is having Kestrel wanting to cash-out and driving the sale, so we don't have to worry about dumb and dumber f@cking this divestiture like they did the Shinez acquisition.

Seriously, wtf is going on here. And wtf is mgt doing to fix it.

i think anything below $200m would be an incredibly **** deal. it seems crazy to say that it could go for $250m given our mcap, but every deal that i have looked at suggests this is a realistic aim. if using forward ebitda, it's likely to be close to a 10x ebitda multiple, which low is for a dis t/o. ultimately depends on us money. if there's more than 1 bidder from across the pond, then $250m should be very doable.

michael and billy i wouldn't trust for this deal given their track record on acquisitions. we have to hope that royde and our other major shareholders, who sit on the board, are the ones driving this sale and wanting a big special dividend. if they're driving it, then we'll be fine, and $250m i think is even more likely. hopefully, they are not far off an announcement and we can get a decent christmas present and an end to this awful run of **** news.

Not sure Lukee, but I'm certainly hoping this is the case. These guys are monumental muppets, and clearly care little for talking to the market.

Edo, where is your head at for a realistic valuation of our DIS business? Gemini is giving me an EBITDA multiple of 10-12x based, and a valuation of $215m to $258m based on 2025 EST EBITDA of $21.5m. The Web.com deal it references as the best comparator, although it was much larger than our DIS division. It went for a multiple of 10.8x, but Gemini believes TIG could be higher due to being a higher margin business versus Web.com's broader suite of products.

I keep coming back to $250m as the reserve price. They should invite bids at this level, and winner takes it all. Reckon we should do $23-24m next year as the new business wins start to hit the books. That's less than 11x on forward EBITDA at the mid-point.

SS, if you're clear-eyed now, I hope you can see why I spent an hour or two on Discord, said they were fantasists, and p!ssed off. Funny how people like John27 are now saying that 'I missed my chance' in those couple of days of access. The same guy who consistently apologises for Baay with lip service to is monumental f@ck ups and lies over years, but then finds reasons to 'move forward' and 'draw a line from now'. And refused to be painted into a corner in supporting an EGM, basically saying he would send a letter 'first class' only after a list of things happening that would effectively bankrupt the company, alongside not wanting to be drawn into what Casc 4 & 5 production failure looked like. As I said, lip service.

SirConsALot, backed up very quickly when I said we could meet up and share holdings because between us we could get over 2%, but then he started on about 'his holdings being diluted', and when called out by folks here, ran away and said he'd never support one because he didn't like the way I communicate, whilst throwing out lies about me not being a holder, and having multiple accounts.

So clearly, I'm the reason why an EGM hasn't been called in those two days convincing these major PIs of why the CEO needs to be replaced after the sp has crashed by 80% in 12 months, and by unimaginable levels over the past few years.

Yes SS, that was where I had to post my EGM arguments. And if I stepped out of line, bigdog Monkey would remove me again. Monkey strikes me as having the Discord club as the only thing he has ever had control over, so quite protective of it.

Anyway, you appear to have had a reality check. I'll share what can be done with the FCA, and you can support that by following what I pull together if you wish. Nothing other than good can come from it.

Dunder, the fact you needed your own channel speaks volumes. Did Monkey give you a folder called 'Dunder loves Paul' and tell you to stay posting there? Yeah, the Discord fanboy club is very supportive of negative viewpoints.

Zero, what happened to you and your p!ssy little holding the other day? You disappeared for a while when Baay delivered another special. I'll share the FCA steps here, and you can judge me on that. Engaging Discord is like trying to nail diarrhoea to a wall.

stas, there's a q&a from someone on the discord group that referred to effectively a 2for1 on shares. and some people have even made out that is a good thing, as they actually need to put money into the company (at 7p now). hilarious. is that the only point you wish to argue, or do you agree with everything else being said? as i've said before, i'm happy to be corrected on the 2for1 deal. and the discord group i've removed myself from now. complete waste of space. and every time monkey says to 'go back to my folder' or 'he'll remove me like water off a duck's back', for pointing out yesterday was more b@ll****, jam tomorrow, and answering only soft ball questions, makes me want to reach through the screen.

john27, what a load of b@llocks. anyone who has seen the discord fanboy club since the director buy at 6p, and recent presentation of more 'jam tomorrow' knows an egm is dead. also they didn't let me on until a couple of days ago, so your argument about casc 5 was the time to strike is incorrect. and when monkey did, he told me to keep everything in a folder called 'ggg loves paul' and not to post anywhere else or he'd remove me like 'water off a duck's back'. was that my chance?

but i can go back over there, and you can support me if you like? from memory, you wanted to keep giving him more time. that was before the recent casc 5 disaster. or do you want to argue casc 5 wasn't a disaster? if you are supportive of one now, i'll happily meet you on a zoom call, and maybe your measured, nice language can promote what i've got pulled together on discord? the argument to have him removed hasn't changed. everyone knows he's responsible for our sp still being 7p!!! with your support it will definitely happen. sirconsalot ran away once i asked to join up and share our holdings. he even started saying 'his holdings have been diluted' after talking up 1.4% and millions of shares he bought between 11-15p.

you've been one of the biggest calamity baay apologists for years, and your post earlier today was yet more support with 'flat production, better comms, catalysts on the horizon, and credit where it's due'. and now you want to point to me not taking my chance in 2 days to convince everyone as to why it's now dead, when you've been arguing against it. and all that 'research' over on discord has hardly ever been right, otherwise why are we at 7p? they use that 'research' to shout people down, arguing things that haven't happened as fact, and because 'they spoke to baay'. now we have central and the compressor to save us over the next 6 months.

i'll go the fca route and keep people here updated. i think there will be enough submissions to get their attention. i'll leave discord to you and the other baay apologists, who keep drawing new lines in the sand for him. remember, we're at 7p!!

Stas, an EGM is a pointless exercise if you have read anything in the fanboy club yesterday. FCA and potentially other legal avenues are the only routes possible. The good thing is a guilty finding and they can remove him for 'just cause' i.e. no payout. Also, the vacuum point I disagree with and has been used by his apologists for years now. They have a board with experience, and Calamity Baay has directors sitting below him who do all the work. So you're not losing anything other than a liability and $800k per annum package. There's also nothing for him to do for some time, not that I can tell what he has done for the past year other than f@cking Trin, and Central in such a way the after effects only just finished being felt recently with an 11p raise!!! Oh, and breaking a bunch of his fiduciary duties withholding information and misleading the market during the process. The question is why on earth should he still be in place with the sp at 7p? The board are impotent, and a bunch of freeloaders. Getting rid of Baay will focus them on actually doing something, and I think you'll be surprised by the level of candidates that would put their hands up for what we can offer. Either way a forced removal will instigate fast change.

Also, on the compressor I think people are missing what the main things I picked up, one of which I questioned on the fanboy club. Lyin Paul has said repeatedly in the past it's the equivalent of a new Casc well. What he should have said is it's the equivalent of a declined Casc well at 1000boepd. So not quite as good as he has made out in the past, because our Casc wells payback a lot quicker than 2 years. Secondly, Brian talked about 'up to 1000boepd', not that it will deliver it. And that's quite different, providing I heard it correctly). Finally, we haven't paid for all of it yet, and imo feel they weren't definitive enough in when it will be installed and brining us that 'extra well'.

Finally, does anyone want to talk about how they dodged the Executive pay question? These useless f@cking freeloaders are still going to take their salaries. And now 2for1 deals on shares with the sp at 7p!!! And even worse, they talked about looking across the business at salaries and making necessary cuts i.e. normal workers could pay for their f@ck ups. Absolutely shameful, and yet people think we should keep that charlatan in role.

not true highland. i got kicked off got pointing out calamity baay withheld material information, and conned the lot of you over the past year with what he has been saying. do you want to go back through all the posts saying 'i spoke to pb and he said' as their argument of accuracy and truth? do you want to argue that he didn't withhold material information, twice, and this crashed the sp from which it never recovered, and was magnified by casc 4 & 5? or that casc 4 was muppet errors, twice? lies about not needing to raise for central. great bank relationships to waive the loan, or all the 'other options' they were pursuing before quickly raising at 11p?

and here you are talking about a 10mmcf central well. you were talking about that and higher for casc 4 & 5 as what pb promised, so it must be true. how has that worked out? and you are talking about revenue numbers. what about all the cash we would be throwing off from central and casc that would be funding most of the stuff that we've had to raise and take out a debenture for a total of $30m to pay for? remember central would not have a raise and would be funded by internal cashflow - according to pb. where did all the money go?

all that happens over there is pb ****s down the centipede, and everyone takes it as their 'truth' to drown out anyone who is scratching the surface of what is being said. the fanboy club is truly pathetic, as i learned yesterday from a brief spell looking at posts. all the things that have been furiously argued for years have been false. and now they are talking about central and the other shiny promises from baay stretching out to 18 months as being catalyst. we're on a knife-edge and need vat refunds to move forward with coin flip incremental production. and anyone who could not see that with their 'confident' presentation is deluded. central just being drilled on time and budget will be a success for these clowns. 10mmcf is a joke to be talking about. and the compressor being online, on time, without some drama is the same. and you forgot to mention our $70m in debt. quite a big omission that one.

sirconsalot, i offered to jump on a call with you to verify our holdings and start an egm conversation, given you are such a 'big dog' pi. and you dodged it, didn't you? we were even going to get the guys you are claiming have multiple accounts - not interested, were you? as for getting me a 'seat at the table', you mean a folder from a clown like monkey, who is the 'guardian' of the humancentipede. your conman brain had a reality snap last week when you realised that all the cr@p you've been speaking has cost you, your family, and your friends a fortune, if your holding is to be believed. that's why you and the discord fanboy club 'gave me a folder'. but all it took was a lousy director buy for £50k at 6p!!! and a forced investor meeting!!! by a bunch of charlatans trying to save their jobs for the **** to start flowing through the human centipede again. i'm quite happy to stay out of that place and have some ****** like monkey giving me warnings on what i can and cannot say, and where to post, in his little echo chamber. hilarious how he polices it as well, telling posters if they say anything negative, he will 'remove us like 'water off a duck's back', or whatever the pathetic thing was that he said.

c'mon, let's do this meet up in person or on zoom, sirconsalot. i'll share my holdings, and you can get a good look at me. and of course i will do the same. it'll be fun (for me).

zero, so monkey the board big dog gives me a folder on the discord human centipede after the sp crashes to 6p - was that my chance? i started posting in the feed yesterday to counter some of the absolute ****e being spread and it was clear that anything going into that echo chamber would be a complete waste of time. the fca on the other hand will not be. don't worry, i'll share how that can be progressed here.

sm, the big dog pi who had his first little ramping wobble when the sp breaks 6p due to the casc 5 disaster - the well he was telling everyone would payback in 'less than 3 months' sndf send us '50-100% in a day'. but then, true to form starts ramping on utter ****e when a director buys cad$100k (far less in gbp), at 6p!!!

sm, you are truly a shameless conman, just like baay. you are derided across every board including advfn. as someone here said yesterday, i don't know how you sleep at night with the way you behave. and as i've said previously, i'm not going to stop countering the ****e you post with the reality of our situation and why it has happened. so if you people want me to stop posting anything negative about calamity baay, then tell monkey to give him a folder in the discord centipede where his garbage belongs.