The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
The company has definitley been registered, with Fraser one of the directors:
https://beta.companieshouse.gov.uk/company/FC036968
Looks like the FCA have finally settled with PwC, now RCN's turn:
https://uk.reuters.com/article/uk-pwc-accounts-fine/pwc-fined-4-55-million-over-audit-of-redcentric-idUKKCN1TE0J1
Will be interesting to see the result, and a pragmatic approach is to expect RCN receive a fine.
This fine on top of poor sales numbers for FY18/19, perhaps its time to dump this stock. Its ripe for asset stripping or buy out.
But Shareholder want their pound of flesh/free money....
The business has been through a lot and jsut about come out the otherside. Anyone (shareholders) who thinks a business can cost cut and make efficiencies, to make their way to greatness are mistaken..
lol !
Like it for the obvious reason. You know what I mean.. :)
SP is still holding steady. Where did you see the news?
A little article and commentary on VP.
<<https://www.ii.co.uk/analysis-commentary/vp-acquisition-too-far-ii506399/>>
Glad to see the SP rising, but not expecting it to reach beyond 110ish even if it makes 100p. Think the RNS regarding the framework award is great, however a framework is different to a contract award. RCN now has to deliver on that framework, when orders are/have been placed. The news didnt have a huge impact on the SP price, but over the days after the RNS, there was a number of small rises up to 87p. Agree with a previous chat post, in the last week or so, why the increase in activity? Think its the II's and MM's up to antics. My current view, unless news pops up to the contrary is:: RCN released a trading update stating results will be released on 28th June. If the results were bumper, would expect the board to publish these even earlier than this - why not? as this is news everyone is waiting for and the compnay can finally be rid of the past CFO who couldnt count issues. The trading update is released, no real SP change, then a week or so later, the framework award is released and wahey the SP rises a little bit and all the MM's and analysts say this is a great stock and has a good upside/upturn, to draw in new PI's and etc alike. Expecting an ok/goodish end of year accounts and numbers, but expecting more work to do. The FCA investigation will rumble on for a while yet, looking at the FCA and FRC news and reports of previous investigations, these things can take 2-4 years, so not expecting anything more than the usual holding pattern updates from both the FCA and FRC.. all that aside, there is still opportunity here, for the right price. MrBBD.
Little bit of a update by FinnCap on Redcentric it appears. FinnCap are the joint brokers as well. https://www.***************************/redcentric-plc-56-3-potential-upside-indicated-by-finncap/412749621
With a 20%+ Plus spread? Not looked at the MACD's for this outfit. Wait until the spreads settle down a bit, but im expecting further bad news before it gets better. The new appointments have a lot of work to do and really need some tangible news and wins which can/are allowed to be released to the market. Interesting how a Non-Exec has gone as well. GLA in any trades/positions you take.
Tricky - Like your optimism, but considering today's news regarding ECSC, I dont see how they can get anywhere near the values they have previously traded at. �5.60 was blatant share and market ShareRamping, and for all that traded then, well done. The shares were just not worth 560p based on the business and its numbers.. Down 20% today on the resignation of the CEO. IMHO, the best bet that business has at the moment of returning value to Shareholders is a buyout/sold to a larger outfit. NCC have been purchasing/buying local security firms for years and it wouldnt surprise me if they are circling ECSC now, because a 90p - cheap as chips.
GDPR and the state of ECSC and its current order books are two different things. You are correct: GDPR is coming and ECSC are growing, but what is a shame is, the current ECSC board have failed to implement a strategy and scale the business to take advantage of the opportunity. Not convinced GDPR will be the cash cow some perceive. Also a lot of cloud providers are covering some elements of GDPR with their services, so this provides some of their customers a bit of a shortcut and head start for compliance. Individual companies do however, still have to be responsible themselves. The lofty heights of 500p earlier last year during the NHS/Wanncry ransomware attack really did create a pump and dump scenario for the experienced traders and this did nothing for ECSC.