Member Info for Jxp101

I should add I've had the pleasure of interacting with Stella David during an audit of a client and she is very astute and resolute. Personally I feel she is an upgrade albeit on an interim basis again. Fine the CEO is gone but the interim CEO is IMHO very very good.

What are we missing here folks? 90p last year with a shut pipeline. Pipeline open but only 64p. What was so significant that happened in June last year. Current price is not even at last year's 75p in February 2024.

Still bugs me how much in dividends have been lost here these past 2 years. Looking forward to a grand dividend to make up for it from management

Why does it matter if the CEO has left. In my last company the same happened and the new CEO grew the business 3 fold

Larry i made the same mistake too. Bought RR at 89p sold at £3.45. Won't make the same mistake here. Luckily I picked these up at £1.38.

Good upgrade by Jeffries this morning £11.40.

@PUTUP - i bought back in. Small amount this time though.

Maverick - What price do you think someone might be paying here?

Question is would you put a bid in if there was uncertainty surrounding this given the claims issue? I'm not so sure you would or that any bidders shareholders would be best pleased. I am hopeful of cost savings materializing and hitting the bottom line as was promised last year by management.

From?

Broker Ratings:

Goldman - £3.75 (today)

DBS - £3.60 (3 days ago)

CFRA £3.60 (5 days ago)

JP Morgan £5.50 (7 days ago)

Stifel £4.16 (17 days ago)

Bernstein £3.30 (21 days ago)

Barclays £3.75 (21 days ago)

Morgan Stanley £4.50 (1 month ago)

Citi £3.75 (1 month ago)

Yet management keep on buying at these prices. They see the current price as cheap in relation to what they know from the inside.

Patrick Creusert - Goldman Sachs average return is 1% if you hold any of jis recommendations for 1 year. He is right 55% of his stock picks

Flip side

Harry Gowera 55% success rate, 5% return from his recommendations if held for - year has given this a buy rating 1 week ago withs price target of £5.50. Read into it as much you like but if the share buy backs are still going strong then we know where this is going

Great to see these buys at this price by IAG. Bullish sentiment and potentially still under valued at current prices

Suoer… thats not really necessary. The markets speak for themselves. Good luck with your 17p here… maybe it needs to go to 10p before you think its cheap.

Super... So do you come on these BBs to seek validation /comfort for making poor investment decisions? It's not comforting right now is it? Your feeling low, hoping the share bounces up, dividends even though there is a mountain of debt.... I focus on fundamentals. There is nothing good in the balance sheet of p&l in this company. Even if i don't hold i am free to express my opinion on any board. At 17p lol why would i try and even short this.

Totally agree. Many here are clutching onto strings, because they want to keep convincing themselves that they are a good investor. Selling non- core assets is a sign of distress see it with so many companies in the past.

Supercooper... What i think is not based on a fantasy of will it double here or not. I'm not a holder here, did used to be in 2021. Keep on fantasising about double your money - it ain't happening and yes there will be a capital restructure that will in the end revert itself back on shareholders. The share price reflects the trouble this company is now in. Just compare earnings to thst debt mountain. It will be feeling like a 20 year mortgage for management right now.

I'm not sure how long it will take to get back to that price. Possibly 2 years?

Debt for equity will come very quickly. The first sign of it is when companies start talking about selling non- core assets, usually a sign that no one will lend any further and debt has become a bigger issue. As if to say they are now non-core because forward cash flow projections paint a bad picture such that there is no other way to get out of this debt conundrum because earnings are not going to reduce debt at a rate the market expects.

Sadly, with a mountain of debt this will end badly. Good Luck those brave enough to hold here. Feel sorry for those invested here, regardless good luck All.

They have not provided an update based on the timing of past updates.

My guess is they can't yet, because the Finance Team will be having all sorts of discussions back and forth with KPMG about write downs, with KPMG having now analyzed Deloittes report and suggestions based on a wider sample of contracts reviewed by Deloitte. I know this is what we did when we had different accounting views to management, we would engage with management to get another Big 4 to do a deeper review of our conclusions from initial contracts reviewed during the interim audit which would have been a review of half year results . Usually, if there are write downs identified in a sample of contracts, we would have to pick more samples of contracts at the year end audit, this is standard audit protocol to identify the magnitude of misstatement in relation to the results of the remaining unreported period.

Not suggesting that there are further write downs but based on last update and half year results KPMG will treading carefully on signing their opinion especially the reported position of contracts past or current.