The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
This was a SALE - on 31st Junior on the keyboard, actioned as a 'BUY', but 'corrected' as a 'SALE', which was posted. Then the 'BUY' input was cancelled as not bought, but not posted! Daddy monkey took over writing 'Shakespear's masterpieces' at 10 am this morning, 1st Aug, realised the problem and input it late - the penalty for mucking up the July month end results - no porridge for Junior tomorrow! [:-)
Bare with me, well it is summer ....... most of us eat bread, most of us know the brand HOVIS. Still here? OK. how many of us buy HOVIS bread regularly - because? Everyone knows what it tastes like, once in a while is ... too much? ... 'Our' company' have been around for over 13 years - several lifetimes in motoring terms - and as has been suggested frequently here, "seems to be going nowhere". What I am thinking is, that precisely reflect's the motor industry's view! The Company always has something to offer, that figuratively 'doesn't get off the drawing board', and is quietly 'cupboarded'. Past management accounts for much of the situation, but even the new brooms seems to be losing their bristles. The curious thing is, 'the company' now appear to be advancing by 'piggy backing' it's growing partners/ subsidiaries!! I ask, is this an opportune moment to lose our 'HOVIS' like persona? A time for a pseudo 'reverse takeover', or where a new company name reflect's its growing persona? There is never a right moment for such a change, but just perhaps the upcoming 'final takeover payment' ........ is it? NB just so long as it doesn't involve share consolidation ... Brrrrh
See above - just available, briefly; 12% increase in NAV = 15.1p/ps ... MINIMUM return tb/agreed at Sep AGM of 2p [ie per 10p share = 20%; 2/12 = 16.6%;2/14 = 14.285%] 1. Part disposal of 'KOBALT', AFTER balance sheet date, will bring in £10m cash proceeds ... so? Remaining 'K' valuation increased 75% in past 6 month's! 2. Assets and trade of 'ASPEX' sold in year, EXPECTED proceeds Circa £9m - £4.2m recd, balance of £3.6m due 'prior' to 31 March 2014! 3. Processes 'underway' to sell remaining asset's ..... as in 'all' ..bit vague, as difficult economic times continue! ....... all as I understand it. There is more, but check it yourself, please .... NB !. Correction - the 2.5 'pence' ** return in 2012, per 12p share = +20.8%: 14p = +17.85%. Bank's currently .... ? **Not '%', as my 5/7 post]. 2. Re the 5/7 post, IF you read it, you may have noticed the Share price above of 9.63 - on that day there were 3 trades, 2000 share's SOLD, and 50000 share's BOUGHT, The actually traded SELL price I collected at 15 51hrs were 10,84 p and the last of the combined 50000 were bt at 10.97p. NO idea where the 9,63 came from - NOTHING, buy or sell was dealt at that figure, also there were NO further trades after that time.
'EVERY, thing comes to he who waits'. Hope you meant 20p, and not 20/- You typed - 20s! {:-) 20p late today ...... buy OR sell! Hope you haven't missed it? 1mill - Wow, dealt today[10 July], and not held over for a week or two - just getting used to the keyboard, cd be early draft of 'Richard IV'.
Into July ... incidentally I opined back in March[see below] that the 17% projected annual return forecast by IC from sales of component businesses, that winding down Spark are 'vigourously' pursuing, might more accurately be termed as, 'as long as you're prepared to wait', might recall that six months elapsed after the last sale's completion,[anyone know time to seal the deal?] before shareholders were funded. No current news of potential deals in the offing, so its unlikely there will be a 17% return 12 months since the last 2.5% return ....... weigh the pros and cons again, or sit tight a little longer! All IMHO
WTF, to put it bluntly, is going on? Buys and Sells missing for a couple of days. and then magic, a wand waves, and there they are - Oh! I forgot the schools are on holiday, and the offices have been turned over to the our nearest animal relatives!!!!!! I wonder how quickly, given a typewriter, they could write 'Richard III rd'?
'Free' IC d/checked, relax it's a 'monthly' reminder 'thingy' - nothing traceable in the offing IMHO so, 'as long as you're prepared to wait' - the previous non-subs info seems as crystal balled, but I'm A'non Sub, you may know different!
Last two days - 1.5m shares bt - some FTSE profit takers finding a 'safe' home, or 'extra officio portfolio' activity? NB The Giro D'Italia Cycle Race is on ATM, hence the 'latin'; Mark Cavendish - 2 x Stage Wins, "Rule Br....... etc !
Well planned, Napoleon would be proud! Delay til after the next consolidation! But with 'cross pollination', ponder the one following - RNC inherited 'The Team' complete with 'T shirt & Video'?? NB Of it's 8400 investors, PMR propose 8000, who each hold less than 1000 shares, get the big 'E'! How? A 1:1000 consolidation, then split the 'One's, value circa £150[!] into 100's ..... how shabby can one get? Fuelling it - Qinvest the 43.7% shareholder - which means ... 'us' drivers ??
A good tactic, delay til after the next consolidation ... very foresighted .... But with 'cross pollination', how long before there's more? RNC inherited 'The Team', complete with 'T' shirt / Video!! NB Of it's 8400 investors, PMR are proposing the 'Final .......... ' for 8000, each hold less than 1000 shares! So what simpler, a 1:1000 consolidation! Then split the one, value circa £150, into 100 ..... ! How shabby can one get? Fuelling it - Qinvest [43.7% shareholder] - which means ... 'us' drivers ??
A correction: the machinations of this proposal are designed to rid the company of share holders owning fewer than 1000 shares! The headlines, 'Consolidating 1000 Shares into 1', valued 'it' pre consolidation, at a price of say 15p, so x 1000 = £150. The proposal continued that 'it' then be reissued as 100 New Ordinary Shares. So each NOS share's value = £150/100 = £1.50. This reduces the total consolidation to 1:10. What a palaver, just to offload 8000 shareholders, mostly[?] former Durlacher investors who had no choice in where they lay their heads, but who had hoped for better thing's here! Lets hope '8000' turn up and vote the proposal down on a show of hands[unlikely scenario if Qinvest have a say!!] Thank goodness we are a civilised society!....... IMHO NB The other, earlier observations posted Sunday 28 April, stand!
1:1000,......... leaves me 'speechless' ........ I'm so consolidated, I need quantative easing! One used to be able to trust British Management ...... but, PMR ....! ..... And the not so 'secret' message the proposal send's to ALL approx 8400 shareholders ....... ! Are all CREST holders, combined as a single s/holder? NB 8000 own less than 1000 shares each - leaving 400 ... not many PI's there i'll warrant!! 75% of shares are held by 5 concerns, [ incl 43.74% by chief investor Qinvest - Circa 67.5m] NB PMR is basically a UK 'hobby' for Qinvest - Profit and dividends are not a high priority and are unlikely, as is any increase in basic share price - whatever multiple the company decide's it will be, if consolidation is approved and other machinations! ie the One share [per 1000] will be, 'sub-divided and reclassified into 100 New Ordinary Shares {NOS} and 100 Deferred Shares[DS] .... following consolidation the share capital will comprise 15,458,299 NOS and the same number DS ..... the market price of the NOS immediately after reorg. is expected to be 10 x greater than that of the existing share' Basically the consolidation hype is 'ONLY' 1:100, the 'dialogue' get's 'shot' of 8000 investors - another deceit played on 'investors'! A far safer place for your £oney, is your mattress, or a piggy bank! The current moves are to disabuse +8000 investors of any prospect of a successful investment in PMR, and is how PMR view themselves .. in my opinion! There is little danger of liquidation, as [almost] a distant arm of Q Civil Service, unless 'they' lose interest, get bored with making losses, find another happy hunting ground or 'people stop driving'!! But you can't 'play' at business, and 'they' will gain little real business experience, where the desire to profit and grow is missing ...... BEWARE giving more $uppor£, we already provide to much, so .. drive a little slower, walk, or catch a bus! 'Hobbyists' should be properly investigated and deterred from purporting to be genuine businesses, here we have a company enabled by the FSA to offer apparently genuine investment opportunties, they should be thoroughly investigated and if found to be guilty of any misdemeanours, brought to justice! But, we don''t want to upset the richest [oil] country in the world, population of 250,000, do we?...,,,,,,.... IMHO