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A very depressing performance over the last 12 months, especially when compared to how the ftse 350 has performed over the same period. News flow is poor and the”shorts” smell blood. Mudd and Co need to up their game and start delivering more positive updates to avoid the Hamelin town residents revenge - “rise up and give your brains a racking, or sure as fate we will send you packing”

Can anybody explain to me what JPM Chase are doing with their daily update on the changing position of their holdings.

It seems to have made the stock volatile - up 10p one day 2 days later all gone.

I cannot make heads or tails of what they are trying to do, perhaps the Board should comment.

The Aerostructure business for sale was already in the public domain, the rest of the TU was positive with results due to exceed expectations, the caveat was some supply issues which they were actively working to resolve, so I can see no real reason for such a strong reaction. I would love the MM’s to explain, especially as the price was marked down immediately.

It suggests the market knows more than the ED’s who bought recently - bizarre.

Has anybody got any better knowledge of MM’s and how they react and price things as the update did not suggest to me that yesterday’s MM’s price was 10% too high!

Non Exec Directors who purchased shares recently also did not expect this reaction, cannot see any excessive sales today, so why?

What was so bad about the TU that caused a 10% fall - mark down? What did they expect, trading to be even more ahead of expectations?

Reactions like this just result in private investors leaving the market forever.

Once the market sniffs underperformance and weakness they usually punish the company with a sell off. The Board in their recent results announcement loaded their gun to punish TW. The cladding issue is bad enough but to get fined £18 million, I believe, by the CMA demonstrates a lack of leadership and company integrity.

Critical 6 months for this board, their expectation of a better second half has to be achieved to avoid the II’s getting very agitated.

IWeb said they received monies late from Glen, said would being in account by Monday!!!!!!!

Having been caught with their inconsistent TU’s in the last 2 months the market will be viewing the capabilities of Wadey and Cooper to steer the ship back on track with a sceptical lens.

As the majority of the bad news in the last TU came from the US operation, it is now incumbent on the 2 new appointees (Krone and Vecchiolla) to prove their worth and drive this part of the operation forward with a succession of contract wins over the next 6 months.

Elsewhere news of contract wins will stop any further haemorrhaging of the sp.

Any further loss of significant contract losses or impairment charges will be disastrous.

The clock is ticking for Wadey and Cooper and no doubt the Chairman is on notice he may have to act to avoid further loss of investor confidence in QQ.

The more I think about the latest update the more concerned I become. As far as I was aware this TU was not scheduled and came as a complete surprise to both the market and all of us shareholders.

Wadey and Cooper hands would appear to have been forced by the new US appointees. You cannot just blame the current geopoloitical position with Trump reassessing everything to see if it is in US interests to the size of the jumbled message on the impairment charges.

The increase in the buy back programme from £100 million to £200 million seems a tactic to avoid a complete share price meltdown.

I would hope the FCA have noted todays announcement in light of previous pronouncements and would make enquiries into the disparities in the 2 statements.

Talk about scuppering your share price with friendly fire, Wadey and Cooper have each scored an own goal in stoppage time to lose all the sp momentum of the last few weeks.

Considering the update in January where they were still talking about high single figure revenue growth to now expecting c2% plus £180 million of impairment provisions makes me very uneasy.

Vecchiolla has kitchen sinked the US operation under his predecessor Purvis and cleared out all the legacy baggage.

The question is why did Wadey and Cooper have no inkling of this and where is their integrity in the January update.

Confidence in their leadership severely compromised going forward, hence the markets savage sp adjustment.

In their last update they gave a range of £915-£935m. Did you get any indication if toward the higher or lower end?

You miss the markets expected numbers and their solution is to initially punish the share price severely.

Not a good time to communicate these numbers with all the Trump Tariff noise going on in the background, especially his attitude towards the EU.

Next update will be critical to Van Boxmeer and MDV survival as they will really need to get the market onside. The company has disappointed for far too long.

Van Boxmeer has been Chairman now for approx 5years. His job is the strategic direction of the company. During that time the share price has been on a downward path. He got rid of Read over 2 years ago and entrusted MDV to turn it around, so far her actions have done nothing to suppress the declining

Both of their jobs must be on the line if the forthcoming update does not show debt reduction plus growth in the remaining business.

They may get a lucky break with a coincidental announcement of a base rate cut which could give the sp some momentum, it desperately needs it.

The Court of Appeal ruling went way beyond any of the legislation framework in existence at the time.

Every major Finance House will have had all their motor finance contracts signed off by Leading QC of the day and no doubt they have Leading Counsel opinion on this specific issue.

The ruling, in my view, draws all intermediary lending into the potential net which will have major impacts across the whole economy.

The decision not to challenge the PPI issue to the highest court has opened the door for these sort of claims to be pursued vigorously by the lawyers. A big mistake by AHO in my view, OK they may have lost but we will never know.

I am glad NUNN has now spoken out on the wider issues involved here and any short term gain for motor finance consumers, if they win, will be at a cost to the governments growth plans as Investors walk away from the UK as the environment will be too “toxic” and to all borrowers in the future in convenience and cost.

They should all hang their head in shame over the treatment of Carl Borg-Neal, especially

the HR Director.

This is symptomatic of how poor management decision making has become within Lloyds and the lack of courage evident in the Boardroom to do the “right thing”. The Reading fiasco has not taught this Board anything.

The Anonymous Charlie Nunn continues to take his large salary plus bonuses whilst providing zero momentum to the share price.

Corporate ineptitude on a grand scale…

Not be CEO in 12 months time

Share Price December 2022 - 96

Share Price December 2023 - 64.87

Performance D-

MDV 1/6 to be CEO in 12 months time.

Headwinds:

Ofcom

Class Action

MP’s rejecting 3 Merger

Fewer rate cuts as inflation proves sticky.

Upsides:

Only a turnaround in revenue, customer growth and debt reduction will amend market sentiment.

Unknowns:

How patient will e& be - could they exit in 2024.

Poor language skills by Blanc - could be her Alison Rose moment. I wonder if Farage is insured through Aviva?

Debated in the H ofC today.

MP for west Dorset eviscerated Voda Customer Service - hardly supportive speeches. Main concerns, loss of choice, redundancies, price increases and security because of 3 China connection.

Great timing by Ofcom to hit Tele CO’s with review of inflation mid contract term increases on top of the ‘Class Action’ recently announced. Talk about kick a company when it is down…..

Investment in infrastructure is vital to UK competitiveness and the Roll Out of 5G critical so hurting these debt ridden companies with these issues must warm the governments heart…

I have not forgotten that the Corbynite Labour Chancellor, J Hunt, increased corporation tax substantially also but did give some relief on Capex in the Autumn Statement.

All this will do is ensure the price of mobile phone contracts will change and in the end cost more.

Hopefully this will galvanise Vodafone Management into greater urgency to address their issues, MDV and van Boxmeer your timeframe for a successful turnaround has just shortened.