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Something wrong here which is, I guess, the reason why the shares fell a bit yesterday. Mr Griffiths shareholding only increased from 20.63% to 20.8% according to the latest RNS - this completely fails to explain the recent large purchases of roughly 7% of the stock.
Someone else must be quietly buying up the shares, who is it?
Given there is only 115m shares in existence, and 7m were traded on Friday, you don't have to be a genius to realise we must be due another RNS. Someone has loaded up again as the price is now 78p to buy and clearly there is continued buying in the background accompanied by late reporting of such trades.
Just look at today's trading. There will be a number of late reported trades that are responsible for the price to have risen today.
If it is Mr Griffiths again, we must be very close to that 30% level........
Clearly a buy. We now await the next RNS - presumably Mr Griffiths has been hoovering up the shares again?
The problem is that so many trades are reported out of sequence / late reported that it gets very difficult to know what is going on.
"Investors should expect the preliminary full year FY2023 results update between mid-March and mid-April 2024. Cirata will provide full year 2024 guidance for both bookings and December 31, 2024 year-end cash balance in the earlier of the Q1 Trading Update or the FY23 preliminary results. An in-depth review and commentary of the Turnaround Plan will be provided in the FY23 results."
Well that did not last long despite the current share buy backs each day...........
The level that this share is out of sync with reality is really noticeable, but then again, one could easily say the same thing about ASOS, THG, CRTA, DARK, etc.
What we need are a few predatory bids......
The company seems to be navigating the current tough economy well
I see with today's RNS he now owns over 20% of the shares. We are starting to get close to the obligatory level at which a bid must be made.......
Time for these shares to start motoring, surely, or are the big City institutions asleep on watch?
Looking at the Currys example, just how bad did that share price need to get before bidders came out? And even now they are not exactly making formal offers. Yet how cheap is Currys? Even at the current price of 65p it's a bargain price long term. Yet those with the cash are not coming forward. This sums up the more general problem, now affecting us here, and at SFOR, DARK, CRTA, ASOS etc etc etc. No wonder so many UK shares are so underpriced. People now don't recognise a bargain even when it is staring them in the face. No wonder an increasing number of UK companies are planning to leave the UK indices.
"The FOR SALE sign is up, MM & press talking about USA listing, suitors are bidding and THG is actively looking for potential partnerships."
Perhaps the problem here is that no suitors are bidding. Nor is MM publicly talking about a USA listing in any sort of manner that comes across as being a likely event in the near term.
Simply, we are all being strung along currently, and what is clear to me is that MM finds it easier, by far, to do nothing, than to take a proactive stance and change things. That is why nothing is happening. Given his stake, nothing will happen unless the situation is forced, and for that a proper predator needs to come along. Unfortunately, and for whatever reason, no-one has shown up, despite the laughable share price. I'd guess that if there were more bidders out there, UK share prices would be higher across the board. It's just that no-one wants to make bids at the moment, bar the odd bid here and there such as the current interest in Currys.
ASOS, THG, SFOR, DARK, CRTA, etc etc.
They are all undervalued by a substantial degree, as is much of the London market. This is setting things up for a buyers frenzy as our PLC's get picked up on the cheap by foreign predators and venture capital houses.
I would say the FTSE100 / FTSE 250 are probably around 1/2 - 1/3 of where they should be if they had kept up with other exchanges, especially the DOW. It just shows you how undervalued things are here now. Buyers are frankly spoilt for choice.
Reputationally, I really don't think it is helping either SMS or the SFOR Board that the share price is at record lows. What good is this if they want to do any more deals using the equity? Utterly useless.
Instead, the Company's current market cap is now so low that it has to be at severe risk of a predator. Only SMS's golden share holds that one off, but even that has a price.
I wonder what SMS's price is and if any 'non official' discussions have been taking place?
Oculus, there are also a load of late reported trades going through. These do not register on here the same day they are made. As per the Singer position, I would suggest that the declaring of late positions is poorly managed by the stock market.
Hope everyone is noticing the unusual closing price of 73p, out of sync with trading during the day over the last few days. Someone is quietly again hoovering up the shares, but they are doing it at a relaxed pace, not signalling anything to the market. It is all being done very cleverly, under the radar..........
Absolutely fascinating...........