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Couple of nice 1m buys there.
Has the consolidation come to an end? Be nice to see some momentum start soon.
GLA :)
From RNS 20th December
“The extension to the TSP process is expected to provide the Company with sufficient time to convene the creditors meeting within the TSP period. Subject to the approval of the Settlement Proposal at the creditors meeting, the Board anticipates that the Company will be able to successfully exit the TSP process prior to the end of January 2024 with a strong cash position which will enable the continued operations of the Company. A further announcement will be provided once the creditors meeting has been convened.”
On top of news large seller out (or almost), the next news hopefully will be exit of TSP with deadline end of Jan, so on or before next Wednesday. Nice few days to see a healthy rise before that.
GLA :)
Hi, the share price is the lowest it has been in a year. What are the realistic expectations of the new CEO for the winter months, for where the share price should be? Asked on 1 September 2023
The CEO and Board are very aware of the drop in Angus share price during the last 3-4 months and are fully committed to reversing the trend. We recognize that while some of the fall is linked to external factors, there has been concern about the company’s increasing debt and questions about our cash generation capability. Our increased debt position resulted from legacy cost and schedule issues which are now behind us; we are working to refinance our debt to remove the short-term, expensive debt which we were required to take on.
The Saltfleetby Field is now operating safely and reliably at production levels significantly above our committed hedge volumes. We are looking at strong free cash flow generation going forwards, once the permanent flowline from the B7 well is installed. This will allow us to pay down debt and strengthen the company’s finances. Angus is now strongly leveraged to gas prices, so any uptick in gas price as we enter the Winter months will have a big impact.
This was from questions on 1st September and gas prices have almost doubled since then. Winter is coming!!!
GLA :)
The SP only hit 11p for a few minutes at which point a lot of traders took their profits, many of whom were in this before the RNS came out - traders will generally take their profits on a Friday and reposition after the weekend. Also of note was the sharp decrease in shorts on IG on Friday from 9% to 4% - this news came out of the blue and surprised the shorters, some of whom were probably margin called and closed out of their positions at a loss.
Wyld Networks is listed on a very illiquid market but still managed a 28% rise and will be interesting to see how that moves this week now the news is out there and digested over the weekend.
Lastly TERN are not a one trick pony and this is only a part of their portfolio with quality investments and plenty of potential - Device Authority being an example.
Seems like the tide may be turning here which is great news for all the LTH’s out there.
GLA :)
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
Board Changes
Revolution Beauty Group plc (AIM: REVB), the multi-channel mass beauty innovator, is pleased to announce the appointment of Derek Zissman as Non-Executive Chairman, replacing Tom Allsworth. Tom Allsworth is resigning as a director of Revolution Beauty with immediate effect, prior to the publication of the Company's FY22 accounts, as previously referenced in the Company's announcement of 13 January 2023. The Company continues to expect to publish its FY22 accounts during May 2023.
Derek was appointed as Senior Non-Executive Director to the Company on its IPO in July 2021, and more recently led the investigation committee in relation to the independent investigation. Derek has led the structural and governance changes which followed the outcome of the independent investigation.
Derek Zissman, Non-Executive Chairman, commented:
"Whilst it's been a difficult number of months for the Group, I am confident that with the new management team and corporate governance structures in place, the mistakes of the past will not be repeated. I'd like to thank Tom Allsworth for his contribution and effort since he co-founded the Company in 2013."
The fact that Derek Zissman has stepped into the non exec chair role after leading the investigation shows a confidence that is much needed before we are out of suspension. Also states company account FY22 still expected during May, so not long now 🤞
Feeling a bit more confident now.
GLA :)
21/05/2023 01:00:00 21/05/2023 System Entry Calorific Value, Saltfleetby, D+1 41.3200
21/05/2023 01:00:00 21/05/2023 System Entry Energy, Saltfleetby, D+1 3123333.0000
21/05/2023 01:00:00 21/05/2023 System Entry Volume, Saltfleetby, D+1 0.2722
Reasons for fall
1. Sell in May go away - lots of liquidity has left the market for various reasons across the board, not just here
2. No new news expected in the very near future here so traders off to do their trading elsewhere
3. Falling gas prices - should improve over the summer and expected much higher later this year
This is just my opinion. I am using this time to top up (had a small top up at 1.318 this morning) - don’t take any notice of the LSE red/blue trades as my top up came up red so looks like a sell but was a buy.
I would like to see some numbers (and forecasts) and will look forward to the quarterly updates that we have been promised.
GLA :)
Just looking back through RNS’s Angus quite often put news out intraday - this is quite normal for them. I have no doubt we will be getting an RNS at some point today and have used this opportunity to top up a bit more. Quite happy for the doubters to sell (if they actually hold any of course) and just wait for the increase in production in the near future.
GLA :)
Good morning all.
I would just like to add my thanks also to Push2 - we are all here absolutely to make money and if Push2 has made some then well done to you - it’s what we are all trying to achieve. My thanks is for sharing your knowledge and expertise, which is something you did not have to do. If in fact you had not been able to refute the many falsely negative statements/opinions put on here then the SP may have fallen even further with the confusing RNS’s that Angus has thus far given.
I shall enjoy the rest of the weekend and look forward to an increase in the figures over the coming days/weeks.
I would also like to thank Singhie for the updates every day.
GLA :)
There were times today when I couldn’t get a buy quote but was able to get a sell quote all day.
GLA :)
Fantastic news today regarding coiled tubing now on site.
Only 7 market days left until 7th April which is Good Friday so markets closed until Tuesday 11th so not long to get into position for positive test results and gas flow news. Got a bit of room left of this years ISA allowance so will be adding to my holdings here. Hoping we have turned the corner and some positive sentiment about to return.
BTW thanks to @Push2 for keeping us all informed and sane through the last few months - you have been invaluable with your knowledge of operations in this sector and if this comes off then I think I will owe you a pint or 10 lol
GLA :)
@Chesh possibly not but gut tells me it will happen……or could be something I ate lol
I wonder when they were approached as the SP was higher before today and could be @ 1.5p (or even higher) - time will reveal all!
GLA :)
Forget that it is showing now - has brought my ave down a bit.
GLA :)
My trade not showing yet - don’t know why
I have just topped up 35000 @1.25 - not sure what price the placing will be but will wait to see what happens.
Btw a lot of the red trades are actually buys.
GLA :)
Also have the Q&A session next week.
GLA :)
I can’t see why there would be a placing atm as they had a period end working capital of $10.1m as at 31.12.22 - could it be just a rumour to scare people into selling or maybe a placing for an investment that will increase overall value for the company - who knows but I am holding and will wait to see what happens.
GLA :)