The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
This was in the Times, Lloyd supports the removal of Ron.
Liad Meidar, Gatemore’s managing director and a non-executive director at DX, said that he had privately urged Series, 71, to step down and had the support of other shareholders, including Schroders, with 5.7 per cent, and Lloyd Dunn, 62, the company’s former chief executive, who has 10.9 per cent. “I regret we did not take this move earlier,” Meidar, 47, said.
You are perpetually qnd rather confusingly, negative. Sell up and invest in one of the other 2,000 listed companies in the UK if you don't think this is a good investment.
Buckle up everyone, today is going to be exciting. The company has been performing remarkably well since the suspension thank goodness. I expect a lot of volatility as people who need to get out do so, but I also expect people to hoover up any cheap shares. I would expect to see Gatemore buying in the price does come down, they know just how good a business it is.
I spoke to someone senior at Gatemore recently. No inside info but was told DX is a fantastic company, still is and the way this issue almost lead to a delisting beggars belief. Positive noises that they can move from strength to strength.
Gatemore definitely do not want this to go private, nor would Lloyd. It becomes far more difficult to raise capital and also far more difficult to exit. You have to try and find someone who also doesn't mind being private which narrows the market. Private equity is getting burnt even more than the main markets so it's not like they have money sloshing about anymore.
Make no bones about it, this is fantastic news. For months this board has been full of worry about being delisted and illiquid. That would have been very bad. This is a very significant step forward in avoiding this.
The company has apparently been performing in line with expectations so the underlying business has been doing ok. Also, extremely important for everyone's investments.
Remember, we invested in the business being profitable and the CG has been an awful distraction that they should now have come through in a better position having been under a huge amount of scrutiny. A very good day today.
He actually bought a very small amount compared to what he owns. It was clearly a way of saying "everything is fine" without actually committing much cash
Don't suppose anyone fancies giving me a summary of where the company is, what the opportunities ahead look like, what hurdles they need to overcome etc? Thanks in advance!
That's for the FCA to investigate. It's a pretty big deal a company of this size being forceably delisted so it would be pretty high in their agenda to make sure there wasn't dodgy dealings going on. They've been embarrassed a few times recently so would want to avoid another.
If for example Gatemore have been saying the share price should be above 50, then they say this issue isn't big, it should never have gotten to this stage, then demand a seat the board, then allow then delisting then suddenly make an offer of 10p per share, you know it's a stitch up and so will the FCA. The FCA live for criminally sanctioning directors etc, fantastic deterrent for everyone else.
I for one will be writing to the FCA. After the governance issue was first raised there was an effort to play down how serious it was by management and other connected parties. There was time to sell before the suspension if we hadn't been fed BS. The proof is in the pudding..and if we are screwed somehow with a cheap deal involving mgt or those connected parties then it STINKS. Best to get the warning and story in to the FCA BEFORE it happens. More the merrier, make some noise.
Well there we go Sister act, that wonderful board and management team you adore turn out to be crooked. Someone has broken the law and they have tried to sweep it under the carpet and hide the extent of their crookedness from the auditors. "They know what they're doing, look at the turnaround, they know transport, not these ruthless Gatemore lot".
Now you know why the directors resigned, someone has had their hand in the till.
When they directors bought shares after announcing vaguely a compliance issue that crashed the price, it reeked of either insider trading or market manipulation, both criminal offences. Let's see how the story unfurls but good riddance to them.
I work for a hedge fund which amongst other things is an activist. The CIO and portfolio managers are many times smarter than the likes of the DX bod and have a much greater commercial understanding of what makes a successful and profitable business that can benefit shareholders. Never forget, the company is run for the economic benefit of its shareholders and no one else. If you want to make some money rather than be part of a social enterprise, then let them do their thing.
Or maybe bribery to win a contract of something
I thought a similar thing... I think that it could be theft / fraud by an employee.
Letting the share get to the point of suspension is nothing short of extremely inept management, end of story and the CEO and board are to blame. This doesn't happen over night, it has taken 6mths. Maybe Lloyd is good at the ins and outs of logistics but having Gatemore on the board is a massive plus. Some very smart people with strategic experience and understand what propels a share price..which is certainly what I want.
Agreed, it's painfully slow working with the govt but they're the biggest game in town with deep pockets. We have the first of many contracts in place and Boris awaiting a grand reveal after the local elections on Friday. It's no secret to attend any mass gathering going forwards you need a negative LFT. Add in the expansion of use in travel testing from green areas once the new and improved tests are released and this share is dirt cheap. Omega have given as many hints as the can on twitter and don't forget Colin's recent sharebuyer interview...the penny is going to drop very soon
Regulator - people elsewhere questioning if TT is complete. Surely you can't CE mark a product which hasn't had the TT completed as you don't have a manufacturing process in place?