Member Info for jollyspeculator

Now choice pricing at modest levels

bought 40K more @41.5p

now hold 100k again

Struggling here

shorting/selling down here seems to make st sense, but, in the overall scheme, they must be a little nervous about fundamentals (or worse t/o) risks

Management has been close to a disaster, but there is a new (dynamic?) CEO who knows the business..there must be plenty of efficiency savings (either organically or through t/o)...and then there is the dreaded resumption of top line growth as Identity stops being smashed

EV/rev is ludicrously low, no???

Great sp resilience

even top slicers (like me lol) having no impact

the reason this is crazy price (low) is that exit...not the cash itself...but achieving any decent (mostly cash) exit

Yes, I cannot see a quoted company of any size bothering

but, if Harwood has mates with (a) buy and build play(s) in the sector, then who knows?

So it was wet/bad harvest

not surprising if you live in the country lol

the real glitch here is management

the sp has tested sub £3 before, and, if another substantial shareholder gets fed up, who knows how low...

I doubt it (except if it's a unique size...but even then it's a guess)

plenty of companies with substantial buy backs see the sp fall...even if an illiquid stock

So sold 50k @29p

hold 440k

Titon needs scale

How will Harwood achieve that?

Either buy and build (but that requires confidence in the management team and access to capital) or be taken over

Harwood are v good

Lol

sp rise not caused by buy back

It could easily retest 200-220 in a dull market

below 180 seems a stretch given what we currently know of the business and prospects imv

These spreads, actual quotes for small lines (large lines are all nm) are absurd

closer to 15% than 10%

There isn't much volume in most tiddlers/small caps

the animal spirits of punters has dried up

Is a concern

Only they and Herald offer any counterweight to the mighty MA (plus Beer)

I'm worried that MA will take this private on the cheap, and don't know enough about Israeli T/O Code to reassure that that is impossible

But almost no interest

doesn't help that it nm to buy

Oh...

Can't see what in the results is a surprise, but GBG is a traders plaything (so what doesn't break up must breakdown)

What will fcf next year be? (£50-60m?)

What average year-on-year growth? 5-10%?

If that happens then an EV of £700m looks cheap imv

But clearly EV of £600m (sp c £2) would make an even better play

It's cheap growth, as long as management doesn't mess up again

Perhaps less if t/o

This isn't governed by UK T/O code

Israeli T/O Code should be sensible, I guess......but the little I've read suggests 25% is a key threshold (and MA are way over that)

Why can a shareholder go over 30% and not be forced to make an offer?

could they t/o on the cheap??