Member Info for Hexam

"There was times when everyone invested there hard earnt in a CO make it there business to put a suit go to the AGM once a year to meet & great the board they are invested in"

That simply isn't true (another poster that just likes to make silly things up).

Nor is the idea that you go and find out the truth if you do attend, at least not anything of significance that would not have already been made public. They simply can't give out market sensitive information to a particular subgroup of shareholders. The best you can hope for is some clarity on a particularly point that has already been shared with shareholders. Having said that a little clarity with QBT would be very welcome!

What I'm saying is that there was probably nothing else to minute only the results which they have already done so. There was nothing else on the agenda.

"Yes it does seem that with all the one off cash inflows (office, equity raise, etc) that underlying cash flow from the business was negative in 2H 25 (based on reported net debt figure in trading update)."

Indeed - we even agreed on the actual amount of the underlying outflow - £28m.

We have already effectively received the minutes of the AGM - the results PRN. There was nothing else on the agenda and they weren't inviting questions (unless I missed that) so just the usual perfunctory meeting I'm assuming.

"However, I do believe that the situation is not yet critical for Boo and that it has financial flexibility. We can therefore rule out worse case scenario (run out of liquidity/auditor concerns)."

I have to disagree with that I'm afraid Fed. We know from the last update they only had £43m cash unless they get more than just the £125m RCF AND cash flow was still negative - and that was of nearly five months ago. They need more than $43m (now less) to run their business without having to resort to desperate tactics (like withholding refunds). So unless they turn the cash flow positive or raise more funds (by whatever means) then the clock is ticking and ticking fast. I agree that they do have options to resolve this so it shouldn't be terminal but the longer they don't carry one out and the silence continues the deeper the hole will get and the more trouble they will havein getting out (so a sale could become a firesale, a loan could be on much worse terms, a sale could be forced rather than strategic etc.).

Of course if cash flow has turned positive then these problems go away - but I'm sure we would have heard already if that was the case regardless of the close period.

"KK, so you can’t list anything other than Various?"

I was intrigued as to what KK might be saying to elicit this response from our resident chief ramper of many names so unfiltered KK and to my my surprise found myself agreeing with him.

What is laughable about Scott/Jambone's comment though is that far from KK only saying 'various' and not listing anything he actually listed SIX examples. Proof if ever there was that Scott/Jambone twists and edits what others say (including FG) to suit their agenda.

I'll add a seventh, very simple one to KK's list. Given the nervousness shown by some LTHs and the falling sp they could simply say something along the lines of discussions are continuing. This may seem overkill but for no previous discussions (including those under NDA) have they said discussions had ended without any result so the longer the silence goes on the more people are likely to feel that these latest talks have may have gone the same way.

Nicely summed up AWL. My motivation for holding is different to yours so I'll remain invested if there is no positive news but otherwise agree with what you are saying about the sp.

"Regulatory/good governance is close period when restructuring debt"

No - a close period only relates to upcoming results and the period up to those results when insiders cannot deal in shares or reveal anything about those results (and they tend to be quieter about other things too).

Ongoing refinancing MAY be a factor in why those results are being delayed (and so the close period is then extended) but in itself is not a reason for the prolonged silence.

Agree FED - we know cash flow for the second half of the year from the information about net debt in the 'trading update' and it was still negative. However we don't know within that whether the trend is really positive and that's where further detail (including, but not only, Christmas trading would have helped). Sadly there is no more detail.

Likewise the lack of information on the refinancing means (if the reports are true) that we don't know if it is a sign of confidence or an act of desperation and cause for concern.

But the paucity of information just leads to speculation and unfortunately the quieter they are the more people tend to get suspicious that things aren't going well, perhaps without reason. So hopefully the results will be published soon along with details of any refinancing and we can finally know what is really going on and can make more informed judgements.

It was Forfaiter that created the doubt by saying institutions had sold their holdings but Phimx that dispelled those doubts by saying they are actually nominee accounts so it doesn’t really matter - and yet it is Phimx that is getting the grief.

Odd. Just shows that some posters only read the name and not what they actually post.

Really don't see how the possible refinancing shows there are green shoots. All the lenders will be concerned about is getting the interest and their money back. We don't the know the terms of the loan but the more onerous they are the less confidence that would show in the business so we need to wait and see. It's also hard to see how the refinancing on its own would be the cause for the delay in the results. Possible certainly, but certainly not 'definitely'.

“Let’s not Down play what really got said at AGM. IYKYK”

You can’t downplay something you don’t know anything about. IYDKYDK.

Why does this board attract so many fantasists?

For goodness sake. I've given my reasons why I'm interested in the Christmas results and you've disagreed with them (which is fine) but refuse to just admit that they haven't given any news of trading specifically over the Christmas period. And I don't think it is more important than the six months overall - that's you twisting what I say again - I just think it's an interesting detail within it which will give us a little extra, useful information.

All you had to say was that there hasn't been any news of trading over Christmas but you don't think it matters as we have the six months overall so we could have agreed on what is a fact (no Christmas numbers) and disagreed on what is an opinion (that it matters). Job done, no more to be said.

Instead you box yourself into a corner by starting an argument and try to deny or deflect from what is clearly a fact (that nobody knows how well they did over Christmas as they haven't told us) and leading to another prolonged, meandering thread that has probably got anybody reading it bored silly.

Good night.

So please tell me how well, or not, BOO did over Christmas the period. I know you don't feel it is important, that's fine, but I do so if you can tell me that would be appreciated.

I have made no reference to the 'nine months', all I was saying was that I agreed with Bon that there has not been a Christmas update and you seem to be agreeing with me on that, so that's good. Thank you.

A Christmas update might tell us if business was improving or not (compared to the previous year) in the fourth quarter which would be good to know and/or whether the Christmas period contributed to the poor performance or mitigated it in part - again useful to know.

The question I was referring to was specifically about a Christmas update not anything to do with the 'nine months' point so not sure why you are mentioning that.

We have not had a Christmas trading update - unless you can find one?

It's really tiresome how you keep twisting what people say just to pick an argument - and quite frankly embarrassing.

No, he asked how Christmas trading went. He doesn't know, I don't know, do you know then? If so can you tell us? Was it good one, an OK one or a poor one?

I'd be interested, though I'm more interested in how trading has gone since February.

I understood what you said Bon and totally agree. No news how Christmas went or anything yet about this year. Shocking.

Well, that was a feeble admission and really sums you up better than I ever could so I don't need to add anything.

That's odd, yesterday he said FG just kept smelling his fingers. If you're going to just make stuff up at least try to be consistent about it.