Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
It's all about typical investor relations after an RNS like that. Shame there's no real engagement with investors and largely just a puff piece that doesn't go beyond the RNS which of course it can't. It appears to be largely scripted and the interviewer hasn't a clue about the company. Bit pointless really
"Thanks a lot the BoD for failing to take any action!"
The BoD are here to simply run the company to be as successful as possible, they can't be held accountable if the price people are willing to buy and sell the company's shares at is below what many might consider "fair value" - there's been no recent news and so the price will continue to drift on the absence of information. The price will react when the further information is made available and until then we wait. The absence of news doesn't mean significant material issues have arisen, if they had we would know.
You can't expect a weekly update from them but you can expect one when something material on progress (or lack of) is known. Those that can't be patient may as well sell up and move on.
Agree, bit of a mess, doesn't appear material but confidence is low and this doesn't help. Could be an absolute bargain to buy into today or could be the smoke before things get toasty. There's precious little activity on the exchange here most days, is there much in Canada? If not, wonder why they're bothering listing there
That'll be me - building up a decent stake in the expectation that the value is realised in good time. Couldn't get more than that from the market direct, I don't expect it'll take a lot of interest for this to move.... and quick... when the time comes.
Yes, awful for investor confidence when just about every RNS has been undermined by the following one. Suggests total lack of control or concealing as much as possible behind the slightly caveated wording of those statements... not a good look either way.
The FT reported..
https://www.ft.com/content/09a84d3a-07ca-4cdd-a649-83f2ebb25681
"Two people familiar with Revolution said there had been a change of audit partner since the IPO but neither believed this had been a significant factor in the refusal to sign off the accounts.
According to one of the people, the company’s relative immaturity was more of an issue. Management was “so desperate to please shareholders that they were too quick to put out guidance”, the person said, adding that the company had probably floated too soon and that “culturally, they need to grow up”.
"
There are 2 schools of thought. The first is that the fall is massively overdone and solely due to Jupiter dumping. The second is that they've burnt through cash unconformably quickly and the resulting debt position will necessitate a placement to enable re-financing, at a price that is very unfavorable to existing shareholders. The results should help confirm which of these 2 is the reality. Until then for those willing to accept the risk, the fundamentals suggest a re-rating is inevitable and the bounce will be significant. Hold on tight!
I dropped the Chief Executive an email and he helpfully replied that the timing of the review outcomes remains under the FCA's control. Any update will therefore be subject to the FCA completing their work. Otherwise the interims in August will be the next scheduled opportunity to update us.
Thanks, can only agree. There was steady constant selling of blocks throughout and I wonder if that was linked to Artemis or some other institution selling regardless of the value. I'm any case I'll pleased to have held my nerve and started to make a return on some of my purchases. As long as the FSA outcome isn't a disaster that will probably spike the shares up again once dealt with.
If the market accurately reflects the sum of all knowledge of the value of a stock then the last 2 months have been bizarre. I continue to hold but I feel for people shaken out of their holdings by the recent market movement. You expect that from some penny stock rollercoaster not something as "boring" as pawnbroking!