Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
According to this article results will be announced on the 10th April.
https://masterinvestor.co.uk/equities/epwin-shares-ready-to-move-positively/
So teddy you are exiting at 33p? .... in the last breath you were saying what great faith you had in Speedy. Oh the irony.
And please don't paint me out to be a bitter loser. I did sell some of my holding in the 70's but admitted buying back many prematurely. I also purchased a lot on the black finger dip to 29.5p a few months back and sold yesterday afternoon. In future i shall still be trading these but will be reducing my core holding.
The reason: I don't trust 'spend spend spend Viv Nicholson' Evans who will wreck the company in pursuit of woke credentials.
tell me what's good about spending way over budget on a s****y new showroom with all the mod-cons in the middle of nowhere, paying £20 million for a start up company that was worth less than half million 2 years ago, and employing a woke diversity officer who is squandering millions chasing equality targets. evans has already fitted out all the vans with fibrillating equipment and vowed to commit donating large sums each year to the british heart foundation.
now tell me what's good about the company and where i am going wrong?
We normally get a trading update by mid-September announcing the date for the interim results in mid November.
The fact that's only five weeks away and we haven't heard a squeak from woke Evans and his team is rather worrying. At least Russell Down maintained a steady ship without £20 million of equipment go missing.
Anybody remember this story of old when 'Rottweiler' Martin Hughes of Toscafund lambasted Speedy for its dire performance and called for a merger with HSS Hire?
https://www.thisismoney.co.uk/money/markets/article-3733598/Resign-Rottweiler-Hedge-fund-boss-rages-Speedy-Hire-chairman-falling-share-price.html
The share price is no better now than back in 2016 and Hughes no longer has skin in the game.... but it occurred to me that with HSS floundering the time could well be ripe for a Speedy takeover rather than a merger .
Any thoughts?
AFC Energy CEO Adam Bond speaks about his collaboration with Speedy Hire. Going forwards this sounds like a good growth story.
https://www.youtube.com/watch?v=vdhQQVg7_0M
Music to my ears if true Urban!
Also on an optimistic note, analysts at Peel Hunt wrote in a note to clients: “We suspect the deficiency [at Speedy Hire] was caused by a combination of overly long depreciation periods (ie assets have been likely scrapped, lost or not returned) and manual processes, rather than a systematic fraud.”
Perhaps all is not as grim as first feared!
Arthuretta see Budgie's post from 26th January:
The number of shares in issue is currently 469,174,373. So probably another 4- 5 million shares to go before reaching the full £30 million limit.
Peaky Speedy only bought back 213,000 shares yesterday when at least 15 million were traded. Hardly a shed load is it.
With over 15 million shares traded so far today, I think we can safely guarantee the buyback budget is now well and truly spent. I reckon we will get an RNS tomorrow saying it's completed.
It's scant consolation for the gross ineptitude of Speedy's management during this latest debacle though.
Oh dear! So there was a reason behind the chief CEO and CFO making a bolthole for the exit at the same time. No smoke without fire eh?
The nature of these anomalies have blighted Speedy several times before. They've never quite grasped the salutary lesson of not leaving pricey un-itemized equipment hanging around - especially with light fingered scousers around!
The share buyback scheme is coming close to the 10% limit (52,831,110 Shares)agreed in January.
528,311,100 (TOTAL NO. SHARES JAN '22)
-52,831,110
----------------
475,479,990
----------------
Following yesterday's buyback there were 477,464,033 shares remaining.
So only another 1,984,043 shares to go by my reckoning.
For 15 months this share has been deader than a coffin nail. Nothing ominous here just market maker shenanigans to drum up some activity.
This might touch the all time low of 41.75p low briefly, but suspect it will close as a higher low around 42.7p ..and then we begin the slow northward climb once again.
So what exactly does David Shearer do? I thought he was brought onboard 5 years ago to create shareholder value- not destroy it!
You're right Blinder! 747,417 shares awarded to the CFO today . Probably the first of many more managerial snouts to go dipping in the trough under the guise of their annual award scheme. These awards will total many millions and negate any benefits we might have derived from the share buy backs.
Hardly a wise or sensitive move, considering how shareholders have suffered with a tanking share price over the last 13 months!
There were 528 milion shares in January. Now reduced to 508 million. That's 20 million shares costing approx £10 million.
I hope they get this down to 470 million shares by September. A 10% reduction in shares should theoretically produce a 10% increase in share price. But knowing our luck it probably won't.
What a sick market this is. The SP quickly relinquished its stratospheric half penny gain within minutes. Even bungling HSS Hire is clocking up a bigger rise today despite their TU being well overdue.
The market makers are to blame for this... relentlessly pummeling us into the ground for 10 months now... what an inept shower of ****e they are.