Member Info for MrBB

IMO our SP will only stabilise & perhaps recover if Directors & Pdmr s increase their holding s at these prices & today is the day for them to do so with view to the massively increased volume which will ,very soon,revert to the norm - of almost no volume

Hopefully Directors & PDMRs will buy a few at these levels to give some confidence regarding our future- I wont be buying more at these levels as the warning gave no clue as to the turnaround or current financial position

Just as it seemed safe to go into the garden another profits warning emerges-despite the previous good news & PDMR buying.I recollect that Mick was not a fan of our new Auto division & he was right & , depending on the losses & investment there it may be best to cut our losses & close it down.
Disappointing

I too share your concerns Crowbar ,2 positives being Nicks investing £100k & VSI investing £4mill.Sadly several negatives eg lack of or miniscule buying by Directors PDMRs & I too question the need to advise that break even unlikely before 2023-particularly obscured/confused by referring to projections being based on contracts currently signed & conservative Fleet projections (although Paul McGlone has taken our shares,suggesting that he’s not that impressed with either our Fleet offering or our company )
Presumably if we win a reasonable % of the RFQ the Market May reappraise our prospects but we are likely to tread water meanwhile .
Has anyone asked Ken why he felt compelled to refer to break even in 2023 when in the same statement he advised that he would be unable to project for 2019/20 until later this year -Surely a contradiction in terms & I wonder how many people proof read the RNS before release ?

We should not forget our history with Volvo or their holding in SEE ,back in the day

ET I am sure we all appreciate your pragmatic view & we all have choices.Only time will tell but I have decided to hold ( at an average of under 4.5p) & will buy more if we slip below 3p .If you believe that SEYE has the better prospects you would be best to sell up here & invest your proceeds in more SEYE - you may be right -but only time will tell & ,right now, we appear to have a superior products , viable chip, & several prospective income streams + our market cap is currently below that of SEYE .MW consider SEYE to be over valued but I dont care as I have no holding there & have no plans to buy.

Bad form I know but I forgot to add it will be interesting to see who the rest of the additional shares will be issued to ( if anyone)?

£20k invested by Jack is pathetic ( relative to his means & he has around £200k of TT stock) but at least means he isnt planning on leaving immediately.Generally disappointing commitment from our COO & nothing from our new head of Fleet ( & I am sure he earns enough to have bought shares in a company in which he has a senior role.the only positive is Nick s purchase which suggests he really does believe that that Auto will win some 9 or many) of the deals on the table & also that he is not planning an early exit.
Kens non participation speaks volumes & infers,to me , that following the fundraising he will be gone & his CV will show that he left SEE poised for global domination & well funded - an honourable exit.My concern is that he believed in our future that much he would have bought more,even if he is leaving.
Lets hope Nick knows something no one else knows-including his senior colleagues

Bought 11,000 more shares in TT Electronics today for £23k - I hope he buys more than 750k of our shares !!

Good points Crowbar.Our Board have projected break even in 2023,based on the value of current contracts ( & reasonable assumptions we presume regarding Fleet,Aviation & Rail) & yet it is too early for them to project our FY 2020 outcome?2023 is conservatively based on new new Auto wins & no expansion of contracted programs with current customers - leaving out much potential upside & therefore the possibility of break even much earlier.
I entirely understand why we cannot yet project our FY2020 outcome so why mention break even in 2023 -which is meaningless.I doubt whether we will remain an independent company in 2023 & it is a case of when we are acquired & for how much -which is likely to be lower than we all hoped earlier this week.

Would Xilinx take shares in the placing -or other strategic investors.I suspect not be it would do wonders for our credibility

It will be interesting too who the lucky owners of the additional shares will be ,apart from any new investors .I hope our Board & PDMRs take up a large chunk to show commitment & belief in our business & future.Unlikely that anyone exciting will take a disclosable stake but it would be interesting to see how The Market would react if someone interesting took 3%+ (Apple,Waymo etc etc ).
I have decided not to sell & will only buy more if I can do so @ 3p or less

VSI held 11.70% & their additional holding will maintain their holding @ around that level depending on the number of additional shares issued in the additional issue.Still a very large holding &,crucially,they wouldn't invest another £4mill in a lost cause.I hope our senior Directors show the same commitment as VSIs

Not sure how you calculated their holding at 35% Terry?

Good summary Terry & there remain many positives,one of which being that VSI have invested a large amount of shareholders funds ,apart from personal investments,& I doubt whether it was for a tax write off.In anticipating the placing we all underestimated the affect of The Fleet Debacle & investors have understandably forced the price down following their support @ 5p.
I will be very disappointed if Directors & PDMRs do not invest large amounts of their own cash in the company ,which hopefully will have been a condition of VSI s support.Jack & Ken taking 10mill shares + (optimistic I know) would give a strong signal to The Market that we have great prospects ,albeit with reduced expectations .
I doubt whether SEE will remain independent before & if funds are required again ,in a year or so -but we will have to reduce our expectations & wait a while longer.Perhaps 10p rather than 100p is our best exodus ration right now & it could be less.

Very few & extremely disappointing as ,clearly Ken & Jack had no choice,but-
1)We will be fully funded for 18months + (which prospective partners/customers want to see)
2)Projected break even in first half of 2023,based on value of current contracts (which must surely increase)
3)Only projection included was for fleet,which will be achieved at about 30 installations per day over the next 15 months(which should be very achievable)
4)Potential for substantial increase in the value of Auto contracts
5)Aviation in early stages of development & can only improve
6)Off Road & Rail -who knows
I would rather be out than in but I am not sure that I have the bottle to bail out now & may have to stay a while to see how it pans out over the coming (crucial )months.
I would have take Safestocks alleged 17p & even 7p would give me an honourable exit & if I decide to stay it will be for quite a while longer , I suspect.
Good luck to you all .

Hardly a surprise that a private Investors event hasnt been organised for this year.I suspect that come the Finals it will still be tricky for them to produce forecasts for 2019/20, although it should be clearer by mid Autumn!
we have a choice - cut & run & take our losses or hang on in there.
If I stay its only as I dont want to miss Sebs party !

Jack has an apparently unblemished track record & I cannot imagine he would support any corporate misgovernance ,if he was aware of it .Our SP behaviour this week is a worry but we do know that the uncertainty can only continue until 29th March at the latest & if Ken is giving a talk in USA about running companies we must assume that he is not in crisis talks with anyone & some pre Results paranoia has set in ,not helped by increasing volumes & a reducing SP.

If our SP continues to be marked down despite no substantial net selling we will have to assume that funds are being raised at less than 4.5p & that there are many out there in The Market who know what is going on & the rest of us,clearly,know nothing.

I would expect the Results date will have been set as meeting rooms need to be booked ,brokers & analysts advised etc for the usual post results meetings & my guess it will be the middle of next week (if we are presenting at the beginning of the following week at the conference previously discussed).We have to hope that the fund raise is a "sensible" amount .relative to our Market Cap & not too large & that our outlook statement is very positive in respect of all divisions.It would be great to be able to announce another major contract ahead of results & ,perhaps thats what Ken & Jack are waiting/hoping for.
I would not be surprised if this isnt Kens last RNS & ,if he goes, I hope we appoint a CEO with a strong track record & reputation to match it.As much as Jack appears to have done little since his arrival I would not want him to leave too as he does have a strong track record & reputation & that would result in too much instability.
I added yesterday & if there is a 4.5p fundraise ( which seems likely now) I am comfortable as long as it is accompanied by a very positive outlook-if not I will have made another investment error ( not the first ....or last )