Member Info for Globex

I think he's just low effort ramping, these type of posts more usual on boards of aim micro caps

I wonder what Mike Ashley makes of all this? £10m not huge by his standards, but can't imagine he'll be overjoyed at losing nearly 20% of it in under 6 weeks.

Moulding probably lucky that stake relatively small and that Ashley's current focus seems to be going apesht at Boo instead. Maybe once he's finished at Boo he should direct his firing squad over here.

Market seems to have woken up to this risk in last couple of weeks.

The responsible thing for company to do would be to immediately halt buybacks, they now need to be in cash preservation mode. Instead though they are carrying on business as usual, with zero earmarked for provisions - quite a risky strategy when this isn't a problem that's going away.

Absolute carnage. What this really calls for now is more F1 sponsorship and another primate statue.

Agree change is needed, market is signalling that quite loudly.

Practically speaking, barring something like a health issue he's unlikely to go of his accord any time soon, this is his legacy project. With that in mind ideal next best scenario imo would be he accepts need for a conventional structure with CEO and separate chairman. Then he appoints a proper hands on CEO more operationally driven to finally gt the various subsidiaries to gel together and fix the lines of financial reporting, so that we never see another missed forecast again.

Sorrell could then switch to non-exec chair. Or better yet to kill off the succession overhang altogether, he eats a bit of humble pie and could move to a consulting/NED type role instead. Would be pretty much status quo from his point of view, nothing to stop him still doing the interviews, ruminating on geo-politics and podcasts all day long.

Main thing Moulding was on time for his flight to Dubai, all the plc stuff and timekeeping where it matters can wait, as long as he gets a nice hols

40p breach can't be good, let's be honest. It's at this point you start eyeing up historic support levels, all time low was around 32p wasn't it? Barring a catastrophe would think at least that psychologically (if not practically) important ATL should buffer severe downside case while blood-letting takes over.

Elephant in room addressed at end: "Our newly centralised specialist team has made good progress in both fire remediation and assessing buildings under the scope of the Self Remediation Terms."

They still need to put a full and final number on these costs.

Their fundamental problem is that their customer base is sadly dying off. Post boomers, interest in train sets etc and space to keep them drops off dramatically for subsequent generations.

The company's net debt growth tells its own story of this trend already playing out. Phoenix have played quite a clever game being main creditor as well as shareholder, so if/when it does fall over they'll be first in line to pick up pieces.

Not sure what they're putting in the water in Runcorn but this Chair seems to have a similarly unfortunate turn of phrase as Brian did.

Choice highlight for me: "It would be economic terrorism to abandon all of those valuable foundations"

WTF lol so dramatic, referring to "economic terrorism" in financial results definitely new one one on me. Whole thing oddly defensive. Funniest part is next paragraph immediately after that begins with: "That being said..."

Needs a catalyst to stem the blood letting but management seem a bit asleep at the wheel considering share price now down as low as it's been in 15+ years.

Challenge they face and maybe what explains the radio silence is that Naira is now effectively monopoly money. Meanwhile in short term is is there is nothing on the financial calendar until interims next year. One thing that looks set to fill the void is news of likely FTSE250 demotion next month.

They've dropped a clanger no doubt. Surprised if anything by market's relatively muted response. I guess it 's only nerds like us that check Steam while analysts and IIs wait for news from company, and the big lag that entails. Last year they did an unscheduled updated in late Nov, feel like they'll have to do something similar before Xmas at least - by now they should have a broad idea they'll come in under forecasts so they will have to tell market at some point.

Unfortunately the likes of Huel are pulling THG nutrition's pants down

What would be a nice would be the ability to take a look at other side of that transaction, at Moulding's various private property companies for flow of funds, valuations etc.

Unfortunately we can't do that of course, because despite those properties (and him) being 100% UK based, the companies are all offshored to Channel Islands, where absolutely nothing is visible to joe public. V.different from usual transparency of normal UK Companies House reports. Typical smoke and mirrors, he doesn't miss a trick.

Dear oh dear

"Material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern."

There are valid criticisms that can be made here but this isn't one of them. It's not a cash call. Nearly all the acquisitions s4 made have a deferred consideration portion paid for in equity - all clearly signalled in the financial reports. At today's price the payment in today's RNS amounts to £4.2k of shares, I think we can live with that.

Big motivation behind issuing all these new shares must be that it will significantly dilute Ashley and reduce his voting power. Of course the board won't say that though. Ashley will surely go nuts, peak corporate drama this.

It's a real issue particularly as have nothing else to fall back on. With a fuller dev calendar they could maybe afford the odd dud, but there is literally nothing else scheduled for release for rest of their financial year ending May 2025. Struggle to see how they fulfil their promise to be profitable in fiscal 25.

At this rate might not even be able to take FTSE250 for granted, and not just because of Moulding's endless dithering about premium.

Losing 25% in value in last 6 weeks alone, if that carries on God knows where we'll be in March. Looking at bottom of FTSE250 table, companies on brink of demotion not a million miles off this. Lob another quarter off and we can pretty much forget it. After promising a premium listing for 4 years there would be a grim irony to not even being able qualify for only the index aside from FTSE100 that actually matters.

I wonder how low the share price has to go before Sorrell accepts a boardroom revamp is needed? It's down quite significantly now on any timeframe you care to select, including since very first merger, and now down 95%+ since peak. Is he waiting for 99% before accepting the need for change?

You would think it would be quite logical to accept a fresh take is what this needs. Sorrell himself is essentially unsackable but that shouldn't stop him appointing someone to bash a few heads together, get a handle on operations and for the love of god adapt the strategy. I'm not even going to single any particular board member out as at this point imo all incumbents have failed.