Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Late and vacuumous, it's in the Portfolio Manager's hands?
The cross contamination may well effect the values of most of the 90 odd companies in here so it could be a long decline. Woodford's credibility is being dented by HIS decisions and the lack of support by past and present investors and press.
Time will tell, alarm bells started for myself when his transparent fee structure was not and had to amend. He is making a fortune from failures and he is not alone.
It may well turn out to be a ridiculous NAV value, really.
I like the Money Podcast today where Neil Woodford and Sir Phillip Greens photo's were side by side. Spot any differences!
The Trust Board and Woodford are one and the NAV is no good guide to the real position of the 'investment' values.
Some will be well overvalued from the transfer from WIEF.
Sold out of the WIEF and IP a couple of years ago and bought investments he did not fancy, like oil, and had no regrets. Now I have sold all WPCT even though I liked the concept, but there is no trust at all and this could be another financial mess.
Where is the proactive financial regulation.
I calculated £300M back in 2017 for the EFW liabilities and the BOD and EY must have been aware, the reports from IRV were just about half of this.
I hope the FCA has some teeth and shareholders at the time are compensated - but I guess the result will be ziltch, another smudge-over!
This is one Co that could have litigation issues and from the past so no surprise to myself that this could fold to mitigate the exposure, hearing some issues from employees.
Why the deep analysis of a dysfunctional business - this is pure gambling with Sharks involved.
Clarification, it is IRV who owe Viridor tens of millions from the EFW fiasco
While there's still a risk of administration here and near zero trust in the reporting from the BOD, I am keeping out. Also sold my shares at a high in Pennon who maybe exposed in the non payment to Viridor of tens of millions.
Await 12th March at least.
What happened with the Interserve senior managers at KMI who were moved to EFW projects - bonuses?
All parties signed up for this obviously and it is usual on capital intensive power/process plants.
Up to ten year warranties to cover structural latent defects can also apply.
There are of course liability limits but IRV are exposed for many years with any JV partners.
Yes, a takeover yesterday and will go into the 2 year plus 1 year warranty period. good news but still exposed.
They have not been taken over, still in commissioning and there are two years of LD's exposure during this warranty period following successful takeover. I am working on these!
and she and the BOD were likely to be aware of the EFW scope. Shambolic, needs investigating.
It is clearer now that the BOD and DW didn't have an effective plan and they didn't understand the gravity of the risks to the business, including their lack of EFW technical and capital project competence.
All actions here have been reactive and the BOD are not now in control to establish credibility and drive strategy.
The shares are only worth betting with while they last!
The past and current Directors have known the botched level of EFW projects last year and no doubt we could see the Co going bust or private. Is this when the inquiries and litigations start as the true situation leaks out?
Not seen a true position given to shareholders at all and no Regulators seem to care either.