The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I think it’s great they’re responding so nicely with sweet nothings to so many. This company has a strong track record of walking investors over a cliff. 10-12 years of 95% bs. Looks possible it will be clear if this is happening again by this time Monday. See if all those very very positive (but not price sensitive, of course, cough cough) emails are truthful.
Haha, I think one share here would be too heavily invested in my view, which I am not. I have been asking difficult not price sensitive questions. These are questions any potential investor might ask, but nothing back. There are also two actual current SHs I know of that have had zero replies since mid September. These are difficult detailed questions, probably uncomfortable for them, not price sensitive. That’s a fact.
I guess I’m just hopelessly hopeful I might actually learn something or see something I’ve missed here, but the wall of silence and cult like refusal to be objective here are constant beyond belief. What can one do?
Has anyone had any response from the company since mid September? Don’t you see that as a massive red flag?
Debt for equity swap coming?
GL = JP
The company’s interests and success are not the same at all as those interests of existing SHs.
How do you have the audacity to say that Table? Just look at your posting history on this company. Not one objective post, not one. Not a single post based on facts, not one. And every single one proven wrong, that’s a fact. The sp is at record all time lows. There’s not a single SH whose current holding is in the money, not one. This bb and investors here are beyond delusional.
You can see that the restrictive speech nazis are out in force today. 5 deleted posts as most of them too close to the truth. Sarah Dees did this in 2017-18. Never a good sign….CB holder out to further limit their losses. They’re in the know too I suspect.
Look at any Moroccan exposed o&g company right now, and for reasons outside of broad sector trends, they’re getting whacked. There’s a common theme here, Morocco. As a jurisdiction in which to invest I think investors are waking up to the reality that’s it is, despite a little tired tinsel and some broken fairy lights, a very bad place to do business. See today’s RNS but another competitor. Lay on top the ability (lack of), performance (lack of) and flexible approach to the truth by GL and his team, you can see how this will end. It’s yet another expensive hole in the ground paid for primarily by UK PIs that yields them huge negative benefits and returns. If there was any good news the company would be crowing about it, the fact is that against my prior beliefs, GL looks even worse than JP. At least you could trade the stock then, with this guy it’s un-investable as tomorrow the sp will always be lower than today. #dreamsinthedesert
KTF, Soundboy, Adam etc etc, they’re all here with one aim…
Funding on AIM, particularly in the last 10yrs, more and more relies on pools of new money from shady investment pools, rather that rights issues whereby existing SHs wouldn’t be diluted. These pools or minor league funds (many ex-city types punting a proportion of their ill gotten gains after a couple of decades in the city) want and need the sp up to allow them to short the stock into fund raises. It’s completely illegal for them to pump the stock up via these forums, but it happens. I’ve said it before, I fully maintain there are many posters on here who are doing just that. I mean wth posts 3500x on one stock, calls it wrong consistently for 5yrs and still has the brass to post continued carp, like they know what they’re talking about. Be wary of posters on here, it’s a snake pit and so many ulterior motives.
Jeezus! Tincan, I should never over estimate how clued up people are on this bb!! You can’t be serious, you think it’s matched with a 10m buyer? Christ alive. It’s a broker that’s worked a load of selling over the last few days, crossing it up against this major seller. I’m telling you 100% this is someone in the know. I get none of you numpties what to admit it, but it is. This is inside info in my opinion, and GL is just sitting there letting existing SHs get fkd. It’s criminal.
a classic response from you ktf. someone shows you to be talking utter ****e and you throw your toys out of your pram and wheel yourself off into the sunset. classic. you could have countered it, but no.....that's why you're 3500 posts down and 3500 statements or predictions that have been completely wrong. just look at the sp. why on earth do you think you're likely to call this next one right? it's certainly not on the basis of past performance that's for sure!! it's even more hillarious how many other posters continue to put even 1% value or interest in what you post. why? there's no line of sight between any of it and reality or what happens, it's merely positive guff which has proven to have been wrong time and time again and cost every single penny invested. keep on trying, chuck another 1000 darts at the board and you might get one to stick.
Greendragon, I guess you're all puffs of smoke and no flames as you didn't respond to my very simple and reasonable question, I wonder why.....
Anyway, I'll tell you so you don't need to go and do your homework. GL has 2.07m shares, currently valued at an eyewatering (joke) £15.5k, and funnily enough his deputy GD actually has more shares that him at 2.35m, currently valued at £17.6k. These are basis the last submission by the company within the last year and they've certainly not bought any since if you look at RNSs. Now I'm not down playing anyone's holding, but these two and the no1 and no2 execs in the business and I'm not being funny but i'm not sure many experience investors would consider these holdings as either a "significant shareholding" (your words from your 16/11 post @17.00) or have any skin in the game at all. Owning shares and truly being exposed to the equity in this company is not how these two are making or plan to make their money. They're here to rinse the SHs, keep kicking the can down the road (yet again today....) and not have any accountability to SHs (complete absence of any SH engagement for months now....)
Yes it's pretty simple maths, but as usual you either intentionally or through lack of understanding miss the point.
you of course have no idea what the voting actually looked like today, but I think a fair conclusion is there are a lot of note holders that are very unhappy about the amendment. Let's say today 50% of of note holders voted and it was 70% for 30% against, so in effect 35% of total holders voted for and 15% against. If this is the same on 2nd Dec, the vote will NOT go through....indeed rather than your bottom of the barrel 18.75% votes for would need to be 45.01%. I think you're either being very naive or intentionally confusing people here. I'd say the maths is not at all as positive or obvious as you make out.
That is wrong David Ash.
Read the RNS. a 25% quorum is still required as a condition for any vote to count, however if you actually read paragraph 5 right towards the bottom of the RNS you'd see a 75% min of votes cast is still required to pass the ER. The bar to pass the resolution as a % of votes cast remains the same, so what is being relied upon is it's easier to hold the vote with a lower quorum, but if any discenting note holders vote against, it might be easier to torpedo the ER if overall turn out is low again.
Who'd have thought it, another SOU delay.
Crumbs, i have to say I thought you were one of the sharper ones on here goza, think i'll have to reaccess. you obviously have trouble spotting a tongue in cheek post. i couldn't care less about grammar (it's an a not an e btw), or spelling. life is busy and 90% of the time i suspect people incl me are just careless and not plain stupid. i mentioned it a few days back as a joke, but that passed you by it seems.
much more relevant and important here, you might have all the faith in the world in the current mgt team, and that's great. i can't for the life of me understand why. no one has articulated that well on this bb. the only reason the sp is at a new record low today / next week again etc is sentiment and belief in and performance of the current mgt team. don't shoot the messenger. Speak to GL directly about it, oh hang on you can't as the drawbridge is well and truly raised at SOU HQ. I'm 95% from what I understand there's another funding raise going on in the background to keep the lights on in Q1 2024, they have less that 6 weeks of cash left and zero sign of progress or openness with existing SHs. With a mcap of below £14m now there's really no where for this lot to go. Pls don't bother commenting on sentence structure or spelling, i'd focus on what's likely a whole lot more important you to.
Ok Greendragon, let's just say it straight. So right now, GL owns how many shares in total? 1m shares purchased at any point in the last few years is nothing really, there will be many SHs will many millions of shares. I maintain he has very little skin in the game, it's just optics.
You're delusional KTF if you refer to many posters who have called this right as 'idiots'. What does that make you who has posted 3500x on one company and got every post wrong? Secondly, no need to talk this down, the actions of GL and his team here are all that investors need to know, just look at the SP, it says it all.
Also Greendragon, the glacial pace of progress / action and increasingly obvious contempt of SHs by GL and team is killing the SP by a thousand cuts, that is indisputable I'm afraid. We'll almost certainly trade a new all time low today, with best bid currently being 0.71p and absolutely zero sign of anyone wanting to take shares off existing SH hands at these prices. That's on the mgt team. They've left SHs horribly exposed and carrying the can for their underhand and incompentent management of the company.
Two simple questions / points Greendragon;
1. Show me evidence of GL's 'large' SH in SOU before he joined the board. Where is the RNS or any other evidence?
2. If you over pay someone vs what they're delivering in salary/pension/any other cash payments, and then you chuck at them some free shares to 'incentivise' them, i can gaurantee you that from a motivational perspective, they're free. It's not like he forgone hlaf his salary in return for the shares, these were additional bunce on top of an already over inflated salary. I fully get it, i see this day in day out. GL has no skin in the game. He's not as invested (emotionally or financially) as many PIs I believe, and in the end he's gouging a huge monthly salary from SOU regardless of any SH return (which despite many a protest here is the ONLY thing a SH should ultimately be focused on from a financial perspective, not how well a company may or may not do, they are mutually exclusive.) GL = JP, they are the same.