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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
Clearly the big seller has been cleared out.
I wonder if the seller has been cleared?
Seems like the persistent seller is still around. Shame the shares could not have been placed in one go.
There is no RNS about JTC Employer Solutions Trustee Limited selling
In order for Costain to trade inline with the valuation of Galliford Try, Costain shares would have to rise to 82p. Inline with Kier Group to 1.05p. And inline with Balfour Beatty to 1.25p.
Costain is the cheapest in the UK construction sector on a EV/EBITDA valuation basis at the current share price of 69p.
Costain.....................0.5x
Galiford Try..............1,2x
Kier Group................2.4x
Balfour Beatty..........3.5x
I think this as well. Fantastic trading statement. Suggestions that dividends will be paid again. Also the CEO will host a call with analysts and investors the day after the results. Unlikely to be doing all this if management have bad news for the market.
Is this a tree shake by market makers?