Member Info for rumbers2

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!

Nail biting times Budgie! Someone has been consistently selling at 39-40p level for several weeks preventing any rise. Question is, with buybacks finished, who takes up the slack now?

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.

Those pesky sellers on L2 keep on piling in with every tiny little uptick. They've taken charge again and seem determined to get us back down to 46p.

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.

I would imagine a trading update is imminent. We usually get one in early April along with the date for May's full year results.

Purchased for £9million in Dec 2018, that's an effective way of 'spaffing' money down the drain in short order. I believe the then financial director resigned too when it came to light there were several legal claims against Gleason pending.. something he should have been aware of but wasn't. God Speedy have a history of employing some dumb people !

What a total pile of ****e this share has turned out to be. For 9 solid months now i keep getting daily alerts 'Speedy Hire has hit another all time low. I should have ditched this pile of garbage on results day last May when they hit 82p. Now they look incredibly weak even at 54p. To add insult to injury the 60.000 share buybacks yesterday looks utterly pathetic. They need to reduce by millions and quickly if they had any conviction. Management wont be reserved when it comes to dishing out additional share bonuses by millions at the end of the year. This half-hearted buyback will hardly make a dent in the number of shares in issue.
I never thought I'd live to see the day when there's more excitement and positivity on the HSS threads than there is here. That's how bad it's got. And by the way what exactly has Toscafunds action guy Daviid Shearer actually achieved since joining the board with his inflated salary in 2016?

Surely Liberum and Peel Hunt must be mopping the shares up at these low levels (56.9p). They were yesterday to the tune of 320000 shares and we are hitting that low again once again right now.

Should reduce 528 million shares down to 476 million... preferably all purchased whilst the sp malingers down here in the gutter sub 58p. I would like to see the total number fall below 400 million .. but at least this is a step in the right direction.

You are probably right, but say Speedy were to make a bid, wouldn't they try to seduce the two major shareholders (61%)with a number of sweeteners to secure a deal?
All conjecture on my part, but this scenario has been mooted for years with no result!

Ragnar what are your thoughts about this new becoming a prime takeover target?
Even if Tosca do lob the lot, Exponent still own 33.8% and Ravensworth 27.5% so not sure how that would all play out.

Analysts at Panmure Gordon believe Speedy is benefitting from “robust demand” and recommends buying the stock at a target price of 113p.
The performance note said: “Superior service levels continue to be a key factor driving these market share gains. As the construction cycle progresses, we anticipate that the importance of service will trend even higher. In particular, we expect that clients will increasingly emphasise equipment availability and reliability over price. In this environment, Speedy Hire is well placed to benefit and we expect sales, margins and returns to all move higher.”

Speedy Hire has a new chief executive officer, is expanding, has gone green and stands to benefit from Britain's £650bn of spending on infrastructure in the year ahead, so "buy" is the Sunday Times's Sabah Meddings's tip for readers.

Under its new boss, Russell Down, the equipment and tool hire specialist is branching out into selling directly to customers through concessions at B&Qs.

Worth noting, the company's promise is that it can supply its 350 most popular items in under four hours thanks to its 200 depots located across the country.

Its delivery vehicles meanwhile have either gone electric or, in the case of its diesel trucks, use hydrated vegetable oil, which reduces their emissions by 90%.

There is also a growing focus on battery power, solar and hydrogen instead of diesel-powered generators.

The company is not immune to the supply-chain problems plaguing the construction industry having already raised its drivers' pay twice this year.
Nevertheless, the company is growing.

So for Meddings: "despite the pressure, it is in a good position to benefit from the £650 billion of UK infrastructure spending in the years ahead. It is already involved in projects such as Thames Tideway and HS2.

"Liberum has a 90p target share price, while Panmure Gordon has a 113p target. At its current price, Speedy Hire looks undervalued. Buy."

Liberum raises its price target from 80p to 90p.