Member Info for redwineday

I noticed the STX major shareholder listing has been updated today. If I am not wrong then it's the same level of holdings as last month and Jupiter unchanged. V strange...

I can't see him stepping back. Ego and legacy and lets face it the amount he has invested here, Maybe he can move to non exec chair at some point when the business is back in growth mode and the SP/ market cap is at a level where he can say I did it.

The second point is who would succeed him. I'd wager whoever that person is we haven't seen him or her yet. My bet would be an outsider with the right corporate pedigree and not client side like Ter Haar. This position is about the city, investors, strategy/capital allocation and P&L management.

He has always been the globetrotting Davos man type so I don't think that in itself is a change of behaviour. Don't disagree with your last sentence though.

Yep, the market has already written this year off so if they can sound even cautiously optimistic then we can hope for a positive impact on the SP.

I have come to terms with the fact that I'm here until 2025 or 2026 before seeing a profit...

In the Times article he did say this....

"However the good news is that clients are less cautious: this time last year, most were worried about interest rates going up; now they’re focused on them coming down"

Another way to look at it is WPP down 20% YoY. SFOR down 77%. So market effect 20% ish. S4 effect 55% ish.

Poncing!!

Indeed if he would rather be pouncing about in Davos then he should move over and let someone else manage it.

Exactly. Even if you take worst case view of 2024 or 2025 earning you get a valuation that is twice this level. According to the FT the median analyst 12 monthforecast is 90p. The gap is IMHO down to shooting themselves in the foot or put another way people issues. And thats down to SMS. Less time spent poncing about in Davos and more time managing his business would be a start.

Clearspot

IMO the co is un-investable of that reason alone (and there are others). GEM doesn't have the cashflow to support future investment therefore debt will be used and then you are into the hell that PDL got themselves into over the past years.

They need a great deal of luck in terms of a run of finding stones like this mornings and a recovery in prices and demand.

In the lap of the gods in other words and all of that before one questions the management incentives and non controlling interests at this company.

IMHO the reason this company is sill listed is to use the listing as a means to fund capital requirements at the expense of shareholders.

I hope all the Co CEO’s, EVP’’s, SVP’s in charge of whatever are earning their no doubt significant salary’s. For a 9k employee heading count there seems to be an awful lot of them.

From your screenshot Nice it looks like Rathbones dumped 10m between Q3 and Q4. If they are clearing out (and it looks like given their) position on Q2) they have another 8m to go.

Dire.

We don't have long to wait to see of the shorters are right. The Q4 trading statement should be next week or week after.

Heard him on radio 4 this morning in bullish agent mode predicting London market to have 20k more transactions this year than last.

Interesting that the Algo trading has appeared and increased here. Looking at yesterday's trading they mostly appeared as sells. Is someone trying to keep a lid on the recent momentum in order to stake build?

No need to deramp here. Management have the job well covered as evidenced by the SP.

Torygraph readers have woken up from the weekend rec.

Most ad agencies balance sheets carry large amounts of goodwill and intangibles. It's the nature of the business.

WPP have c 10bn of both which is greater than the market cap. Its certainly the case that SFOR its far greater proportionally but I would argue that is a result of poor operational performance and current cashflow impacting the market cap SFOR rather than the balance sheet or at least the balance sheet vs its rivals.

Regarding the director sell. He explained in a call that it was a sell from a family trust he doesnt have control of. Make of that what you will.

Nothing will change here until SFOR show that they can be relied upon to achieve previous guidance. Constantly missing forecasts will attract shorters like flies to a turd.

"Government of SA approval and therefore the $2.5m cash payment from Africa Oil are expected to be received by year end 2023."

Their brokers should be ashamed for letting them consistently make statements that subsequently turn out to be rubbish....