Member Info for joseywales

So they clearly discount to clear and they have not had to go to the extremes they reserved for. However, in terms of that impacting client behaviour down the line, I doubt it. They may well be sensitive to this and use trade deals to dump inventory ... that would be the smarter play along with spend based discounting such as spend £1000+ get 30% off.

Seeing inventory dumping across different sectors now and best thing is to offer consumers access to what's being offered (and not taken) by trade.

I think it's just people taking a punt on news. Only about £150-200k's worth of shares so nothing massive in the great scheme of things. I feel we have to wait for a proper update for H1 numbers. Would be nice to see this back over 10p again.

Wasn't Ocado mentioned so much by MKS last year because the CEO doesn't like the set up and was trying to through someone else under the bus for establishing it? Can't remember the detail but remember a comment in there that sounded a bit like that.

First purchase made today having done OK on Melrose for a while before the split and not doing so well on GKN before that!

In my opinion, it will take a while but with divi and buyback in play, this won't be kept down for too longer period. The 140 listing did seem like the Melrose board did a rather good job.

I think you buy down at the 330-350 level not for tomorrow but for a few months time. The increasing shorts to subdue any upward trend has been relentless. If you take D1 its a US player that no doubt care little about MKS/OCDO side of thing but plays the numbers on what's achievable with the algos and like. Damn site easier doing it on the UK exchange than in US.

As for tomorrow ... could just simply be a passing comment for MKS. Can't see how it's in there interests to make a massive deal about it in their update to the market.

Surprising drop today when a comment in Dowlais mentioned re-stocking in powder metalurgy with the de-stocking period seemingly passing. I'd have thought a good omen for chemicals industry. The problem with some of these rising stocks is that without divi, buyback or something further to re-assure shareholders of 'imminent' value (such as significant cash generation) ... makes it hard to hold on to such a significant rise.

I'd have thought this 80p level will stay for a while. Seems like the buyback just keeps it there or thereabouts each day and stops some of the shenanigans you see on other tickers. I expect the next ramp will be on news of US sale or an offer for the business as a whole ... might have to wait till after the summer I imagine.

The way I see it here is there has been no profit warning. They made it clear their priority was to generate cash following about 500k generation at end of last year. They just need to get that net debt number falling and a path to net profit for the full year.

Also stop the chats ... there's a clear gulf between what they want and what any company is willing to give for the business.

It would not surprise me if we simply get an AGM and 'trading in line' statement tomorrow so personally I'd not hold out for a decent business update.

It's certainly interesting the demise of the exchange. I see it as an opportunity really as you will find companies which possibly treble their MCAP in short periods of time.

I no longer have UK only funds in amongst my managed funds investments ... I can't say they performed brilliantly before Brexit, but since Brexit, they've grossly underperformed everything else. It's that simple really.

That all seemed pretty positive .... particularly the £20m cash which was clearly down to inventory reductions. The £1.5m coming back on previously provisioned stock was also an indication that the stock provisioning in it's entirety is 'sandbagged'. Did not think you'd be able to get more at this level this morning ... I was of the opinion the cash element was key over operating loss which is all impairment/provision driven. Intangibles are a joke ... hate the things!

Voting has to be done by tomorrow. Don’t like dis application of pre-emption rights but aside from that very dull and usual.

So originally they announce £25m which in theory would have taken them above the 10% or so threshold they are allowed to buy back. I thought the approval was to enable them to execute the £25m which may have exceeded the 10 or 15% based on the MCAP when announced.

Are you saying they want to add a further £12.5m and take the total spend on buybacks to £37.5m?

The £25m buyback was just what they wanted to do in the first place. It's just a process of being allowed to! Does not sound like there has been any update relating the US side of things. I think that's what's needed to get this SP past the £1 mark.

Nope, not talking about shorting, more about accumulation. I don't for one second think you short or invest anyway.

Hedge, when it comes to 'manipulation' it's quite easy to send this SP either way. You literally only need to drop 1-200K in small packets into this ticker to drop it ... the issue is the spread is unattractive to buy your shares back so can only imagine it might be an MM. Also, when you look at Shore's data it's pretty much a wash in buy/sells.

So my thinking/theory is simple. Someone's dropping as little stock as possible to bring it down and along with it catching some that succumb to fear. When (and if) the buying starts into the AGM or after, they will simply meet more sellers at 7/8/9p than they'd have ever seen before.

The question will be, if the news is good, how strong and sustainable is it. Personally I think finally coming out of the takeover period will fuel some further SP attrition.

I see the fair market value as 18-21m and it really hinges on them maintaining the usual EBITDA level but reducing all the adjustments due to rentals and the like which flipped it into negative net. So much can be done to quickly to sort. They should have seen if they can offload the US business ... someone should go after this at the AGM.

Also, I saw the chatter on the 'D' some time ago. 33% depreciation per year on assets in field is over zealous and overburdened the balance sheet. They also burden at their cost, not what they would retail for. Good policy to sandbag it but after a 2 year rental, they will achieve 60% of their original device cost at least (less handling/processing). The model that they will only get 33% back is safe but should be significantly over-achieved. If mngmt cared about their SP, they should have got into that. No one likes guaranteed future value models for buyback contracts ... it's too volatile in terms of what could happen in the manufacturer space. Again another to challenge at AGM.

However, if you look at an iphone at the moment ... after it's done it's 15% out the box and additional chunk during year 1, the dep rate % has actually dropped in years 2,3,4 of late compared to 2015-20.

Very re-assuring that robswire and cronies are here needing to buy into the AGM.

I think it was you that said, maybe someone in there looking at YTD performance against a future forecast/valuation. Really management should take a 8888 or get off the pot type approach with them. Whole thing has been amateur hour. I'd be embarrassed leading a company stuck in that period for so long.

Aside from that diabolical mess, they should be keeping it simple .... buy cheap and sell through fast, generating cash. It's literally that simple as they have the machine to do it already.

Stop the faff with rental / ATM and all that ... its simply junk that sounds great and fancy but simply adds cost or drags on the balance sheet.

You can then sell it on next year as a decent lifestyle business.

Over the asset lifecycle the rental income + EOL asset re-sale generate increased margin....but then you know that already MikePickle/404x. You really won't be able to buy many shares at this level.

Would not worry about it Mike12345. Would expect comments like this all week regarding admin/covenants and the like and they will have nothing solid to back it up aside from obvious headlines which are batted away with ease. Would expect quite a few that sold up will be looking to buy back in before next Wednesday. Take the covenant one for instance ... it has nothing to do with MCAP, it's a measurement against EBITDA of 2.5x. EBITDA is not an issue for this company.

Really is why you should simply make your own assessment and decide on the risk level. Personally I think the reward outweighs the risk and if they manage the business effectively.

The ratings do not concern me so much but the way the shorts are sniffing around makes me think somethings up ... it's not like the OCDOs where they simply play the game because they can on an almost cyclical basis ... this is a short based on analysis in the business which jeopardises the SP. Credit rating downgrades combined with FTSE 250 exit could generate a lot of forced selling ... but would they not be looking at that situation already for those who would need to be exiting?