Member Info for mbingo

Priced at 123, i think so - Yes. 1 institution increasing, 1 new stakeholder. I've been re-building a position here - think these levels are v attractive.

wow, that's 0.5% whole almost. I'm at about 0.25% whole. Great to have the HSBC endorsement.

The drop down was fast in the end. Think today was the turn. Way undervalued - it would not surprise to see double figures quickly. 10p is £32m only. This is not going bust. Price is wrong. The business could be run-off today and be valued closer to 15p. That is not the boards' intention. They want to recapitalise to take advantage of the opportunity. Any equity raise would be accretive to the business opportunity/growth prospects. Dividends were at 1.5/2p per year, 30% of current Cap.

Quietly up 22% today. I'm under water here, from initial entries in the 11s and further entries in 5s/6s. Do not think that this is going into administration. This is how it is priced.

Sentiment rock bottom here. Wonder if any raising will be at a premium - think it has to be.

what's your view Older on current state of affairs?

well, it's certainly priced to fail now. Let's see what the 9.30 presentation has to offer.

Thanks, think this is just a prudent pause and review. As you say and they say: "When circumstances allow, the Group has access to additional borrowing facilities totalling £185m to fund future loan book growth." The mark down re the NSF equity seems disproportionate when the signs are that Covid less bad than expected on the economy. Equity markets certainly seeing V shaped recovery from April.

Hardman report issued shortly after the investor day in January makes the business case pre Covid and provides a fair valuation in the 70p range. Sure, the underlying environment has changed but we’re a long way off the 30p valuation pre Covid, let alone 70p and we know that the business generated £3m cash first 3 weeks April - things can’t be that bad!

Just auditors. Look at the share price history - and this is as low as it’s been (besides the drop to 8.4 ish as the markets crashed). Market Cap at £37/8m. Can’t see the results being bad either. It’s about the outlook, how will the business fare going forward. Does remote working impact business? Will they look to grow the loan book? Think it’s very cheap at these levels.

Picked up a few more today. Dividend for last financial year should have been 3p, so 25% yield at a share price of 12p. Cash instead conserved by the business. Generated £3m cash 1st 3 weeks April prioritising collections. Think all noise around Amgo positively impacts NSF. Look forward to those results!

The fundamentals certainly make the price attractive. It is an illiquid stock so volatile, but i have a position. Operating costs and cash position make this v low isk. Any turnaround in the oil and gas pricing and this could easily double and still look cheap.

2 days. On 7th June Director of Investor Relations and Communications wrote to me saying: "Many thanks for your mail and sorry for the delay in responding - we share your frustration. We are working with our auditors to complete the audit and hope to be able to announce our results soon. I am sorry I cannot be more definitive but we are in the hands of our auditors I'm afraid. Thank you for your patience."

They responded to me a couple of weeks ago, referencing auditor delay. I'm expecting Financials in the next week.

23rd April RNS : Following the joint statement by the FCA, FRC and PRA on 26 March 2020 urging listed companies that feel it appropriate to take advantage of up to two extra months to publish their financial statements ...

Perhaps i'm gullible, but i've bought in to the credibility of the board, experience and emphasis on culture. Investor day presentation of 16 Jan well worth watching if you haven't yet, plus Hardman reports.

This has some legs today .. any sign the 1m seller?

Ian B, I got a note from Director Investor Relations and Communications this evening saying: "... we share your frustration. We are working with our auditors to complete the audit and hope to be able to announce our results soon...." . I had simply asked whether it was possible for the company to comment on the timing of the release of the Financials. A new position for me, so not actually frustrated. Sounds like the company are frustrated with the auditors though... Think very decent upside from here.

Thanks for that! Would certainly prefer to see more shareholder alignment with the board. Hopefully, we will see more Director buys after the Financials are released. I was really encouraged by viewing the investor call/presentation on 16th January, but there's nothing quite like being equally aligned with the board (besides the bonus and options!)

Hopefully bodes we’ll for the next few sessions, it’s certainly priced to fail currently. Was 70p not so long ago. Took 100k Friday, may add.

It is very cheap. Couple of institutions selling down have created very cheap opportunity. Always gives confidence to invest when the board have proper skin in the game. A few high profile new hires have joined recently too - not sure why they would join a sinking ship.