Member Info for notrac

People talk about subsidiarity but this is not the Swiss Confederation with several hundred communes nor the Colonial office with outposts all over the world. It's a publicly listed company. Far too many subsidiaries resulting probably in controls too thinly dispersed. A challenging restructuring is the order of the day.

Just as we get ready for Act V, up pops Petrofac staggering across the stage with something a lot more serious than a flesh wound. Two corpses would be too much. The thirty pieces of silver on offer may be too tempting to the audience to spare them the sight of any further blood on the stage.

Since last night trading is not possible under RSE following the partial reemptin. Does anyone know the new symbol for the shares that were not redeemed?

No mention of how this will be financed.

Auditors do not prepare accounts, they examine them and will provide hopefully in this case an unqualified report that they represent a true and fair view of the state of the group's affairs for both the end of 2024 and the first half of 2025. It is management's role to prepare and submit the accounts to the auditors. Ironically the guy who blew the whistle was discovered not be a member of the Institute Chartered Accountants. It is likely that he was concerned at what was going on and that his subsequent and sudden departure signified a circling of the wagons. One by one the links in this circle have been broken.

Finance is now in charge. The results are obviously going to be dire.

Hopefully the MRE is published before the next placing.

I will wait till Nov 6th. Interesting to see what's happened at OCN. The court has adjourned the hearing on the takeover following an objection.

Clearly Eroxon while safe is not effective enough. Interesting to see what Haleon do.

My charting package shows AGL from 2004 when it was above 140p a share. It reached 150p in May 2022 probably when it got approval. FUM and STX show similar characteristics. Value destructiin a massive scale by a member of the Institute of Chartered Accountants.

A message for The Prime Minister.

Bemused by institutions selling. Results due next week.

They're just going to keep drilling until someone comes along with an offer. Cannot rule out a placing at some stage.

Three man team! Surely they can do better than that.

Welcome to Switzerland. High withholding tax on dividends but I doubt it it will ever get that far. Sensible move.

The p&l bore no relation to cash flow which was not a reporting requirement then. The Smith situation is more akin to Tesco a few years back. They are effectively a gateway that travellers pass through between security and boarding. Volume, travellers, are the key.

Rolls Royce 1971 Ltd. I was a newly qualified accountant working on the liquidation in Bristol. I seem to recall that development costs on the RB 211 engine were being carried on the balance sheet rather than being charged to p&l. The p&l bore no reThe Smith's situation is closer to that of Tesco a few years back.

30p it is. Next steps?

There is. It confirms one of the worst kept secrets for many a year.

That was the position on Friday. Will probably be down again today.