Member Info for RickEngland

Same judt ge ny dentist appointment at

Ice

25th July 2004 sp 208p

5th Aug 2024 sp 128p

4th Nov 2024 sp 123p

12th Nov 2024 dp 54p

13th Feb 2025 sp 65p

14th Feb 3025 sp 42p

17th Feb 2025 sp 22p

That is the markets view of the ship with broken sails in the storm. While we wait gor conditions yo improve, the sp keeps getting worse. Are you saying today is the day it all turns around and it's all good from here? Because we haven't had the audited accounts yet, just a snippet of the disaster. So we got 2 definite further sp drops, reports day, and when the cro walks or is booted.

Problem is ice, even "if" there is a cash flow plus for 2026, it won't get reported until 2027. Right now the ship is sailing in an horrific storm, and even the life guard doesn't trust that the captain gave the correct location over the mayday radio. It's now that matters, 2 years from now are just daydreams.

Problem is "people" are the asset in professional services as wood sell knowledge. Cancellation of the bonus scheme isn't going to go down well with employees (i.e. the asset).

When the useless CEO quits that will be another drop, on that news. Golden rule is; is the news getting better or worse. I can't see where any good news is coming from right now. 2027 is long time to wait for any 2026 reported good news.... that's if there's any 'better' news.

If it wasn't for the billion of debt, maybe 24p is looking reasonable. Which makes me wonder if 15p in incoming. No rush keep watching.

I actually rarely lose at this game. My strategy is recovery plays, good firms having some short term turmoil. I got a decent holding of cbg, didn't quite get the bottom but miles up. I'm actually interested in wood at the right price, but I will not pretend it's in a good place, because it clearly isn't. It would usually be off my radar, as I avoid firms with massive debt. But it has potential at 15p to dump half back at 30p in a year maybe. 30p is not enough safety cushion for me..... there's still pain in the air.

So I'm not selling fear, the market does that already. Im simply following a firm with serious financial issues, and are quite opaque with reporting. It's not hard to read between the lines of their use of language. It might be worth a play at the tight price. That's about as positive I can be with the current situation.

I work for a professional services firm, and cancellation of bonuses is going to hurt, the best people are going to walk to rivals fast. Then there're no decent people to deliver the order book. People in such fields are rare, and if good they do act like mercenaries and follow the money.

Fact is the sp is 30p, I can't see how you can put a positive spin on it. Should I have bought at 60p then? The correct answer is no.

You're missing the point, this is day one of the new slide. There's still the pain of the official 2025 results to contend with. This trading update is just a teaser of a more detailed car crash to be reported. I don't care if they have a 500bn order book, the market is saying this company today is worth 30p a share. Is the news better or worse? I say it's worse before it gets better for quite some time, easy 6 months. Any business sales are if buts and maybes

I'm not saying the firm is dead, I'm saying it's not finished falling yet. I will not be surprised to see a 20p sp. Maybe even 15p if the shorters have fun. I'm glad I didn't listen to rampers when it was 60p, I was tempted but just knew the audit meant more bad news.

Really,.... they're do desperate they wanted to raid the pension surplus for £50m then for some eason they had to cancel that strategy. When i read a trading statement that gaz yo compare FY22 with FY25 that also rings alarm bells.

If you read the trading update, they are looking for sales to cover both ongoing liability 'claims' and hope to offset some negative cash flow. The entire 1bn debt usd needs yo be refinanced in 2026. That's gonna be expensive and even the CEO is "disappointed".

A negative can not to twisted into all positive, although nice try. One thing is for sure, a rival is not going to pay top dollar for parts of a desperate business. That's how the brutal world functions. Anyway i await next week with interest.... but there's no rush to buy a falling knife. 2027 is long time to wait for recovery.

Also reporting decent revenue is rather pointless if the cash isn't their to back up those sales. "2025 negative cash flow".... i.e. NO money. What's the impact of that? Can they service their debt? I want to see the bank balance, and potential WIP. "Show me the money".

Negative cash flow..... let that sink in.

Yet the shares at sitting at 30p, so who is the clown? The fella is right is have concerns of bankruptcy. I'm not a fan of heavily indebted firms either. Even after sales of parts of the business, Wood expect to retain debt at similar levels.

Anyone that is due a bonus and likely worked thier nuts off to qualify, is going to be seriously peeved at bonus cancellation. That's not good in a business where people and knowledge is the thing you're selling.

Monday is not looking good, no one likes bad news on a Friday. For those not watching, they will come up to speed over the weekend.

Let's make it really clear, anyone that held shares yesterday are sadly seriously down, despite knowing about the incoming bad audit news. So maybe give the clown argument a miss, as the situation is worse than sh*t, and what's worse is investor's knew this was coming, but decided to bury their heads in the sand.

Looking at 2027 to officially 'report' 2026 positive cash flow.... if it happens. That's a long time to try and maintain a positive sp. If you're looking, considering a punt at 30p, be patient... no rush.

Been watching and waiting for the results of the audit. There was only going to be one answer, despite prople saying it was still a bargain in 60's.

The leadership needs a complete clear out, and CEO needs to go. I might take a punt in 20's. But to be honest unless the board is sacked, i honestly can't see a positive turn around. I was laughed at here, when I said "be very careful,with this audit it's going to hit 30's".

Absolutely shocking. It's now a matter of trust to invest, do you trust the board? Thinking about it... 15p is my entry now. The leadership don't deserve my money yet.

Well, your horse runs everyday with shares, unless it falls down dead which is pretty rare if the fundamentals are strong).

I'm not much of a gambler, I avoid fruit machines like the plague. Don't even bet on the grand national.

It's going to dull until the March 2025 interim results. Still going to be dull until sept 2025 final results, as the FCA have pushed out any redress scheme until Dec 2025. It's a long time to wait until the FCA confirm our commissions were low value, therfore excluded from any redress (my opinion)

In the interim I'd like cbg to use thier AGM resolution approval and buy back 50m shares (to hold in Treasury for later sale or cancel them). Might as well get something from this mess.

@Loren. Takeover "bid". Well you said it yourself it's simply a bid, which a sensible board will reject. It would be different if CBG were financially in trouble and needed a saviour. They have strong CET1 and £1.8bn in equity. Besides any interested party attempting to build a stake in cbg would soon have to declare it. 150m shares is not a lot I'd agree. 15,000 private shareholders with 10,000 shares each locks in all the shares. I'm not dumping my 0.001% are you? Smiles.

It's highly likely cbg are responding to all claims with a standard reply. "Your loan did include a DCA although this did not effect your interest payments, case closed" Let's remember that is the initial FCA investigation, was about excessive amounts of interest added to cover commission as in the Firsrtrand bank scenario. As mentioned before in the Hopcraft v cbg case the commission amounted too just £183.60 not unreasonable for arranging a car loan at a good rate.

The appeal court ruling adds further questions beyond the FCA's original intended scope. It's likely any redress 'if any' will be pushed out to 2026. The FCA said themselves they will only state the rules of redress in Dec 2025. I believe political voices at the highest level will be looking to bury the uncertainty. Are we the global hub for finance or clown nation that actively self harms with retrospective rulings going back decade's?

The more I try to digest the issues, it becomes clear the FCA are clearly lacking strong leadership to allow this situation to deteriorate. In their defence they have offered 'expertise' to the supreme court, should an appeal be heard. Although they started this mess, and can't even acknowledge when firms have in fact stayed within their own rules. That is a huge failure on their part. A simple statement from them with some clarity; we're investigating excessive commissions beyond X pounds or X percentage. Not hard is it, are they leading or allowing the courts to wag the dog? It's a disgrace.

Well the special resolutions could be interesting.

Permission granted to buy one or more purchases of thier own shares. (Makes sense and sell them back to the market for £8+ in due course).

Permission granted to sell sercurities for cash (I assume that's the loans they've wrapped up internally using winterflood).

I'm not an expert with regards to rules that need shareholder approval. But it appears me cbg have aligned the goal posts to makes things happen. Also it appears they would prefer to sell down some risk, rather than let this drag on another year.

It would be fantastic if they bought 300k shares at £2 then sold them at £8. I don't know if that's the plan, but I'm a cup half full shareholder.

@pineapple. I would suggest that the Marcus Johnson commission was excessive at 25% via Firstrand bank. The Hopcraft v CBG which was lumped into the same appeal, amounted to £183.60 capped commission.

Over the years I've worked on a few adjudication's. What i learned from the experts involved was; firstly a judge is looking for a fair outcome and therefore secondly when everything is against you, it is sensible to concede something.

If the supreme court sided with the appeal court but added a caveat that commission must be transparent from the date of their decision (I.e. not retrospective). This aligns with the latest practice.

The fact commissions were wildly different within the appeal. It's likely if approved the supreme judges could take a cap approach to retrospective commissions, with the FCA to decide the value of the cap they consider to be fair and reasonable. Should that happen, we're basically covered. Although the risk on prior 2016 loans may need to be understood, even though cbg added a hard cap to all

loans. I can honestly foresee a sensible outcome, when the FCA 'shares' their expertise (as requested).

When the div comes back, it will be so epic, we won't need to sell half to derisk. Just collect the dividend to de-risk. If people can wait that long. Every 10k shares pays £6,700 income a year at 67p div. 🤣

For sure the trading update confirmed the firm is continuing business. I can't see the sp doing much though and shorters will play with our emotions until next year. It's one of those hold and forget shares, until the storm has passed. Unfortunately the grey clouds are going to be around for a year. Who knows though; there was a little 'indication' about a potential interim div, which cbg might be forced to pay to get the income funds back on board. Hang in there.