Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Can anyone tell me, what happened to the Chariot oil acreage it had in Namibia. I know it had a massive failure in Namibia but then it held onto some acreage which it never explored. Total and Galp have recently made some massive oil discoveries in Namibia.
I do not understand why everyone is getting so hysterical about the upcoming results. We know what they are going to be because the trading statement on March 25 was very detailed. The delay relates to the group's German division which accounts for just 3% of EBIT. Although it is a tiny part of the overall company, the auditors will not sign off on the results until the German accounting issue is cleared up.
For the FY 2023, Mobico will have generated around £135m of free cash flow before interest. After interest on debt (which will be around £60m) cash flow remaining to pay down debt should be around £75m.
Why all the hysteria?
Countingcards, it is over. The company has gone bust (ceased trading) because on a monthly basis it spends more than it earns in revenue. This has been the case with this company for the past decade since it was founded. Burt never managed to come up with a viable business plan and was too stubborn to change. Since listing in 2021 he spent £9m of investors money. The company said after the January fundraise that the £300k it has raised would keep it gong until April. Well we are in April now and the company as it warned has once again run out of money. It is a shame because it has a super product. Unfortunately, the quality of the product was not matched by similar quality among the top management of the company.
Countingcards, you sound like the kind of guy who gets greedy when others are fearful. That is the Warren Buffett style of investment. You buy low and sell high. But you must be careful not to buy low and then it goes to zero.
It will me a miracle if the stock holds above 0.20p today given the deluge of selling. Only a Burt resignation can change things. But I fear it is even too late for that. What a waste of a great opportunity. Burt is a man who has proved himself to be seldom right but never the doubt. A deadly combination.
The share price performance and board exit suggest the company is in a death spiral. Unless you view the collapsing share price and the sudden board resignation of the representative of a major investor as positive news. I suspect some on this message board might be in the grips of irrational exuberance.
If anyone can spin this as a positive development it is davethechef. Come on dave, tell us why we should view this resignation as positive? Maybe it clears space on the board for Indra Nooyi (CEO of Pepsico 2006 to 2018) to join as a non executive director?
Rank has a Q3 trading statement due to be published on 18 April:
https://www.rank.com/en/investors/financial-calendar.html#category1