Member Info for rumbers2

Steven Cooklin just recommended investors read the 'excellent' feature in yesterday's 'Times'. As it's behind a firewall does anybody have free access to this, or at least give us the gist of it?

..and true to form up pops FoMo like a stubborn floater!

The UK economic picture is darkening and rapidly get worse... which is all more grist to the mill for Manolete of course.

From today's Guardian:

"The number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms. There were 2,238 company insolvencies in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.

David Hudson, from restructuring advisory firm FRP, says: "What’s also particularly concerning in the data is the steady increase in the number of administrations. These usually involve the very largest businesses and so could prompt a significant knock-on impact in terms of jobs and supply chains if they continue to rise. It’s also an early signal that financial distress is deepening – not just among smaller businesses, but at the top end of the market too.”

The long-running Truck Cartel Cases conclude next year and many defendants will soon decide it's better to make restitution with a cash settlement than face the ordeal and expensive of a long and protracted court trial!

This is expected to deliver a sizeable windfall for Manolete who could reduce their £11 million debt, or alternately invest it in additional new cases to expedite the growth of the company. It's a winner whichever way you look at it!

Chief Financial Officer Mark Taverner has resigned, which may be a blessing in disguise. Investment adviser James Emmanual said. " He was far from an entrepreneurial CFO. I would argue that the company would benefit from identifying a more dynamic and strategic CFO who can better support its growth ambitions."

I wonder if we'll be updated shortly re. Barclays Buy Back Loans. Manolete could potentially be awarded another 15 new Barclays cases given the successful results achieved last year. I assume Cooklin is still patiently waiting for Covid Counter-Fraud Commissioner Tom Hayhoe's approval!

i'd also like to thank united_99 for sharing this insightful analysis. a superb read and a refreshing change to the relentless rantings of 'manolete customer/upshunt' who hover on this board like ****ehawks 24/7 .

results announced on 21st yet presentation isn't until 27th. something is amiss. maybe another speedy **** up.

Canaccord Genuity initiates coverage with buy rating; price target 209p

I think the share price is readying itself to close that big gap created on 8th February 2023 when equipment worth £20.4million went missing and the share price plunged from 41.60p to 37.38p.

It may tread water here for a while until it has the strength to push through, but psychologically when that does happen it would represent a pivotal line drawn in the sand.

According to this article results will be announced on the 10th April.

https://masterinvestor.co.uk/equities/epwin-shares-ready-to-move-positively/

Did the article mention about cutting the dividend Simon? The yield was so good it was the main reason for many investing here.

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?

Looks like you may be getting your 12p bangrak after all!

The Bank of New York purchased 23,250,000 Speedy shares last Thursday ....the day of the tree shake.

That's quite an impressive initial investment!

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!