Member Info for shamI89

It puts a question mark over everything, 2026 does not look good either and company would run out of money in June/July at this rate.It looks like we may see other people departing as well.

The definition of accrued income is “income earned from delivered goods and services but not yet paid”. We already knew that accrual was highly suspect because while Croda was meant to pay three months in arrears it had not paid five months after the period end. Now we know why. The number Ashman used was just a guess. He admits it. There is no defence this is a slam dunk admission of a material fraud, booking a guess as accrued income.

16/02/2026, 08:03:07] Stuart Ashman: That number will drop straight back in with more to come. Just going to take time. They want to reset the number and they wanted someone to throw under the bus. I’m the only one left Manpreet has already gone and so was Simon. Emily was only appointed on the 1st of January and so was Alyson. I’m the only one that they’ve got left to blame.

Ashman: “[16/02/2026, 08:02:05] Stuart Ashman: Nope. Croda gave me a number that was a 'sample’ number that turns into sales as they formulate. Manprit left for disciplinary reasons, and Simon through illness.

Where are figures for this quarter?Clearly that would have helped today.Ex CEO had a conversation with Tom I believe and he basically said that he had given estimated figures and forwarded them.

I would say someone is dumping these shares.It can be one or more institutional invester.Tom Winnifirith has penned a piece on this fiasco.Royalty was meant to paid on quarterly basis and CEO has admitted that figures that he gave were based on estimated nunber of sells, no money has been paid for five months and that is worrying.Either product is not being sold as estimated or these figures were plucked out of thin air.Institutional investers hate uncertainty and they would start dumping as soon as possible.Company would need to produce audited results and justify buisness model.This cash would last them till end of june and company would need to raise fresh money.

Well I am happy to debate as it is really hard to weigh up "risks" when you dont even know what risks are.There will be further casualties I am afraid.

We dont have any credible numbers for Croda deal and figure we have cant be trusted.Sales at Super drugs are slow and two recent acquisitions are just breaking even.All of these things make this uninvestable.

It could all be a fraud!

FCA steps in to protect shareholders, it would have saved mug punters from losing another 50% if FCA had suspended shares in this company.Right now there is enough cash to last another six months however we dont know about anything else.

Spikey this has created a false market.Let them release audited results and investers would have better understanding to make informed decisions.Right now nobody knows where it will end.

Over everything, ideally fca would step in and suspend shares.Company would have everything audited and then come clean.Royalty wont cover work capital and company would be forced into raising money through placing.UK does not have "law suit" culture otherwise investers would have taken management to court.

TW have done a bearcast on these and he reckons two recently acquired buisnesses are breaking even.That puts a question mark over everything.Ideally FCA would suspend these shares from trading and clarify these things to restore confidence.

It is usual "bottom feeders" and soon we will see too cheap, takeover on the cards rubbish bla bla bla.

Trading to protect private investers.

This overhang would kill price action for some time and I suspect a "p&d" crew is involved here too.What a way to deatroy shareholder's value.

Any rights issue price has to be at discount otherwise investers are better off buying it in open market.Current holders would have advantage of getting their entitlements at discounted rate.Nobody knows the price as it would be determined after agm.This plan would have to be approved by shareholders at agm.It is a messy situation where CEO has crashed share price throughthis half-baked plan.

Major shareholders were contacted about this refinancing and a rough rughts issue price was discussed.Either they started selling heavily or opened shorts.This management has left a lot to chance.Rights issue price would be determined after it has been voted through.You have to be register on 18/19 to have a chance to get rights.After that nobody knows what will hapoen.

This is where it gets tricky.lets say someone has bought shares today and stay invested until 19 February, he will be entitled to rights.So there is no incentive to stay invested after 19 February.As you can sell your shares and buy rights at discounted price and pocket the difference.However this arrangement has to be approved by shareholders at the meeting.

But not 100% sure as I think it depends on structure,sometimes a third party underwrites rights and it will buy any rights that have not been exercised.I was in Rolls Royce and that is what happened there.I am pretty sure you get money for any rights that have not been exercised but not 100% sure.