Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
nothing i can see in the numbers that warrant this drop.... so my money is on it being caused by Meeson selling a chunk of his shares -- he quite often does post results. Has around 42m shares I think that he is been gradually monetizing, sold 2m shares in November post half year report and 2m this time last year post the annual.
they guided that revenue would be down first quarter, and then up in the second quarter for a broadly flat first half. As revenue was Stg486.1m in 1st quarter last year, i would expect somewhere between Stg450 and Stg475m reported tomorrow.
expecting an annual margin of 4-7%, that was predicated on freight rates remaining elevated throughout the year. however it does look like shipping and airfreight rates have come down steadily over the last couple of months - so maybe some hope there if trend continues
Based on history of similar raises with c.20% dilution done via a cashbox placing rather than a rights or placing and open offer I would expect the offer price to be somewhere between a 2% to 7% discount to tonights close.
The last Jet2 one (as DART), May 2020, actually priced at no discount at all to the market price and closed up 17.7% the next day.
Easyjet in June, discount 5% - and traded down 4.8% the next day (versus offer price)
National Express in May, discount 3.1%, down 3.9% the next day
Dalata Hotel in Sept, discount 6.9%, up 8.9% next day
It seems clear that the change of auditor is at the behest of PWC and not Boohoo's choice. But I do think as usual journalists are being loose with their choice of words particularly the word "resign". My reading of the 2006 Companies Act is that if an auditor actually "resigns" there has to be an RNS and the auditor (except in limited circumstances) has to inform shareholders the reasons for the resignation which have to be more than they just don't want to do the job anymore. PWC were re-appointed auditors at the June AGM with their term of office running until the next AGM - presumably June 2021.
So I presume what has happened is that they have informed Boo they don't want to be re-appointed in June 2021 - so the headlines "stepping down" and "to quit" are more accurate than the body of the news articles which use the word "resign". Either way it is not great that presumably PWC see reputational risk with being associated with bad publicity around Boo but i would be very surprised if they have actually "resigned"
PP - to be fair to you, it is being lightly reported that the police, NCA etc have been visiting premises in Leicester and as yet have found no illegality. But i just don't believe it is one rogue supplier. In addition in the current climate being associated with the word "slavery" whether it is fair or not is just toxic.
PP - I feel like this is the same conversation as yesterday. You seem to be convinced that there is just one rogue supplier/subcontractor when even Boo themselves are not saying that, they don't appear to know whether there are others. Just because they have a strict code of conduct doesn't mean it is followed. If there is just one rogue and it is a completely isolated case and the ST got "lucky" in finding the one rogue supplier then happy days but i just don't think that is likely.
For what it is worth I am sure Next and (particularly) Asos could easily be selling items that were not manufactured to high ethical standards as well.
thats just pretty blinkered. The ST only needed one for the story - how do you know they had to investigate loads of suppliers to find one rogue subcontractor? Boohoo themselves this morning in their statement talking about "working with officials to raise standards" - to me that is an acknowledgement there may well be more problematic subcontractors out there and BOO just don't know.
but PP this is all predicated on there being one rogue supplier. We have no idea whether that is the case. It could be one, it could be endemic - we don't know. I would be surprised if the Sunday Times happened to come across the one supplier acting unethically (and all the others are above board) but it is possible. If it is endemic it doesn't really matter (for shareholders) whether BOO legally at fault or not, it will be ugly.
PP - Merian "didn't get wind of what was happening" - Merian itself has been bought by Jupiter so the shares in the underlying fund are now held by Jupiter -- that is it. Nothing to see there. Plenty to see elsewhere.... this does feel different from previous concerns about Boo (eg the Channel 4 Dispatches programme) and poor labour practices. The combination of Covid, what is happening with Leicester and the lockdown, the "slavery" moniker, and a government which wants to do (or be seen to be doing) the right thing with regards to working practices and minimum wage is a pretty toxic mix for Boo's share price.
poo - what was somewhat buried (or requires some working out) in the announcement today is the what appears on the face of it to be extraordinary cash generation of over 70m since end of Feb. Now whether that is because they have massively cut spending (advertising?) or because revenue has gone through the roof remains to be seen. But for comparison cash "only" increased 50m from FY19 to FY20 results.
I don't disagree with your thought that right now people are not buying going out clothes which you would expect to be at the core of Boo sales. But they were indicating YoY revenue growth in the last trading update and now this cash generation number gives me belief (hope?) that the next trading statement will be postive.
the isawitfirst stuff they have in the report is just fluff to fit the underlying narrative. I am not saying these guys are not writing a spin to fit with there desired outcome i am saying people going long do exactly the same thing. I would be interested in your view on what i think is the actual valid part of the doc being how much are BOO going to have to pay if they want to buy out the remaining part of PLT and will the current PLT owners be paid a large dividend at end of FY22 just ahead of the acquisition (which is my reading of what Shadowfall are suggesting). And why does the wording BOO use in its filings related to the option keep changing?
how is the information in the report misleading though? I don't think there are any "facts" in there that are incorrect - there is opinion based on those facts which fit the narrative Shadowfall is trying to espouse. Not really different from people coming on here and saying Boohoo is going to fly and "panicking" people into buying.
Peoplepower - I never really understand that arguement. I presume you bought BOO shares came on here and said the company was all set to be the next Amazon - ie being bullish publicly on the stock after you had bought it. So what did Shadowfall do differently except write a more detailed document than a post on a bulletin board and have a lot more fire power? Why is it inherently evil to short a stock if you think it is overvalued and why not explain why you believe that. There is nothing stopping you writing detailed pro-BOO research type report and publishing it and watching the share price rocket - i wouldn't expect you to do that before you bought the stock.
type RNS, not runs
based on
https://www.investegate.co.uk/boohoo-group-plc--boo-/rns/update/201812170808096502K/