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All LTH of AFC are expecting (me included) an exciting 2024 with multiple events in the pipeline, including (the prospects) a labour government. So I thought it would be useful to tract the progress of AFC and our main sector firms ITM and CWR.
All three have suffered really poor share price performances with dramatic drops in value since the start of 2020 and throughout the COVID period and all are looking for better times ahead. I set out below the current share price, number of shares in issue and the current market caps for each. I'm sure all LTH can recall the days when AFC had a market cap well in excess of £500m and hopefully, with the right news we will see it again - :
AFC share price 19.20p. Shares in issue 746.52m. Market cap £145.42m
CWR share price 217.40p Shares in issue 192.98m Market cap £424.17m
ITM share price 62.70p. Shares in issue 616.88m. Market cap £388.51m
LTH in all three are looking for better times - will come back and update as the year progresses.
DU you wrote
"................inc the directors (all 5 of them)."
With a max of 10 - They reported annual expenditure through to first oil would be circa £3m. What, in your view would these director/employees be doing during this period?
Over the last 5 years they have closed over 250 branches and cut thousands of job and bought back and cancelled billions of shares and many LTH remain under water, and now the car finance fiasco - you couldn't make it up. Behaving like an AIM stock.
"you are in need of a reality check - how is your understanding of buybacks going."
From what I am reading today (£13bn potential to those involved) there may not be room of large buybacks for a few years - hope I am wrong. Whatever next will crawl out of the woodwork.
Is for the regulator to say "no dividends to be paid and no share buybacks" retain the funds to settle the car loans issue. They did it during COVID and they can do it again. Just another PPI all over again. Then a Labour government waiting in the wings to tax what they consider to be "excessive profits" resulting from high interest rates - you couldn't make it up.
LTI has the belief that as his holding grows (in % terms) he will become richer, he seems to ignore the fact that since the start of the last share buy back (Feb 22) the share price has fallen nigh on 20% (52p to 42p) that is how bright the chap is.
I would like to see a lot less chat on here about the Helikon short.
If AFC deliver on what is expected together with the business plan outlined in the JV with Speedy the short will be (expensive) history, if they fail to deliver, well the short will be a winner.
Time will tell, it is all in AFC's hands - end of story.
I only have one person on filter - this is from the PANR BB.
Jamessimon threatened me with violence on here recently. I reported him to LSE and my local Police Internet crime enforcement team. They are investigating. Watch this space.