Member Info for Inthetin

Hi Vas

It appears to me that all shareholders (regardless of location) holding 3% or more shares need to notify the company of that fact:-

https://www.handbook.fca.org.uk/handbook/DTR/5/1.html

Cheers

ITT

Very good Grapefruit.

Shouldn't today's RNS be showing?

Hi tonyj

Actually 'Recommended' your comment this morning (is that a first? I can't remember).

Genus now hold the key IMO. If they let the market know that CC are integral to their plans, who knows where the SP will go.

GL

ITT

Hi jakeandelwood

Thanks for your thoughts.

Cheers

ITT

Hi jakeandelwood

Are these fairly chunky sales going through something to do with DJP's 'transfer' or do you think that it's someone else dumping?

Cheers

ITT

Hi sandgrounded

Have you had a look here:-

www.cyanconnode.com/wp-content/uploads/2023/07/266525-Cyanconnode-RA-Web.pdf

Cheers

ITT

Hi tonyj

Sorry, I don't know. My guess is that the other side of the transfer will show up next week.

Do you know the answer?

ITT

Hi gizmo555

I think that I generally get the gist of what you're saying but do you mean Dec 22 or Dec 23?

ITT

Hi CB

Not sure about that - I would hope that someone at CC or RSM might have noticed, if they had read the report again.

What I do know is that this habit of the company rushing out RNSs that need correcting has to stop because this stuff does matter.

I've had a quick read of Zeus's research note tonight and I'm pleased to see that there's no mention of 20% of 250M smart meters or a 57% gross margin. What they do say is that "The company is well positioned to win significant market share." I hope that bit is true.

A tough, disappointing day today for CC shareholders. My advice to JC & HP for their Q&A session is to keep it as short as possible. There's nothing that they can say that will help (it was a bit of a disastrous year that just needs to be moved on from).

GL

ITT

Good to see the accounts being corrected. More haste, less speed, as the old saying goes.

Well done JC & Co.

"...a loan from one director for £300,000 is still in place, after being extended to the Group in November 2020."

The interest rate in Y/E 31/03/2022 was 13.5%.

If the rate remains the same, that's over £40K in interest paid to that director in Y/E 31/03/2023. Obviously, if the rate is higher....blah, blah, blah.

I'd like to know why are they paying that director over £40K in interest on a £300K loan when they have over £4M in the bank?

And India are going to let them look after the information taken from 50 million smart meters (at least) year in, year out and keep it in good order? Really?

IMO, they need to correct the errors in JC's statement (and any others identified) and release another RNS.

A bit embarrassing (because it's becoming the norm) but it should be done.

The £1M impairment of intangible asset relates to their UK contract i.e. stuff that will no longer be required.

Is there a bit of kitchen-sinking going on here or are these accounts really this s****?

Little wonder they struggle with figures, the don't even know what year they're talking about. Isn't Q1 FY23 referring to the period 01/04/2022 to 30/06/2022. In the Chairman's Statement, I think they mean Q1 FY24. A quick count shows that JC made the same error four times in his Statement.

Slapdash is the norm here.

Oh dear, what a disastrous report. Effing hopeless.

Sorry, too many actuallys there.

It would be a really nice surprise if CC's TU on 06/07/2023 was overly cautious and they actually release figures tomorrow that actually beat market expectations. You just never know.

GL

ITT

hi tonyj

the q&a session is restricted to cc's accounts for the y/e 31/03/2023.

the notice says that:

"john cronin, executive chairman and heather pea****, group cfo will be holding a live question and answer session relating to its results via the investor meet company platform on 1st august 2023 at 10:30am gmt."

at least they'll be out of the way then.

cheers

itt

Hi LTI

You're just being silly.

In their valuation, Zeus calcs are extremely simple:-

250M SM x 20% = 50M SM

50M SM x £12.50 = £625M

£625M x 57% (gross margin) = £356M

Yet, in their projected financial statements, they state the gross margin as 35%.

The difference between the two figures based on their guess that CC wins 20% of the 250M SM is £137M (£356M - £219M). Yes £137M.

A £137M difference, error, call it what you like is pretty huge when you're looking at a tiddler of a company like CC.

What is this amateur hour? www.idioms.thefreedictionary.com/amateur+hour

ITT