Member Info for Skindle

Not sure Ejackson, 1GW_ is normally well informed in this respect. I am very disappointed that the share price has remained at these lower significantly under valued levels. I can’t see much growth post the half year results because of the additional PPI requirement. On this basis I am seriously considering calling it a day with Studio, not because of its own performance which has been excellent since Mr Maudsley took control but because of the numerous outside influences that are managing to keep the share price suppressed. 300 pence plus now seems almost insurmountable.

They will need to be good Columbo, that is a significant sum. I think we should all just surrender to the inevitable and let Mr Ashley buy our shares for a pound each !

Ejackson was correct in anticipating that this would happen. N Brown has recovered quite well from their PPI setback recently, let’s hope we can do the same.

I have to question the wisdom of the above mentioned update last Friday. The fact that there were no further costs beyond the additional £100m as announced with the half year results merits this latest update needless. Okay, so more aircraft will be grounded for a while longer than was originally anticipated but any further costs as a result of this will still fall within that additional £100m. The phrase “we deeply regret......” only serves to endorse the negative tone of the update. The upshot of this has been a diminution in value of nearly five per cent since the close last Thursday evening. I really can’t see why the board felt compelled to report this.

Of more relevance would have been the progress of those completed engines that customers had failed to take delivery of at the end of our half year that had a negative impact on our free cash flow. Are those engines still waiting in storage for their new owners to accept delivery ?

yes Agreed, very honest. I like the way that Mr East leads this company in a very transparent way, even if this hurts the share price from time to time. I do wonder whether the acceleration in the replacement of intermediate turbine blades has been as a result of the recent Rome engine failure.

I’ll wake up and read some good news about this company.

It appears that the agreement with Sports Direct, announced on the 5th September might now be helping to turn the sentiment towards STU positive.

I was really rather hoping that PPI repayments had been repaid and consigned to the history books for STU. Don’t tempt fate Ejackson.

Its difficult to tell whether STU or SPD were the instigators of the agreement. My uninformed guess would be that STU are more comfortable with it than SPD.

Where a listed company has a controlling shareholder, it must have in place at all times:

(1) a written and legally binding agreement which is intended to ensure that the controlling shareholder complies with the undertakings in LR 6.5.4R; and
(2) a constitution that allows the election and re-election of independent directors to be conducted in accordance with LR 9.2.2ER and LR 9.2.2FR (election provisions).

An applicant with a controlling shareholder upon admission must have in place a written and legally binding agreement with its controlling shareholder which is intended to ensure that the controlling shareholder complies with undertakings that:

(1) transactions and arrangements with the controlling shareholder (and/or any of its associates) will be conducted at arm’s length and on normal commercial terms;
(2) neither the controlling shareholder nor any of its associates will take any action that would have the effect of preventing the applicant from complying with its obligations under the listing rules; and
(3) neither the controlling shareholder nor any of its associates will propose or procure the proposal of a shareholder resolution which is intended or appears to be intended to circumvent the proper application of the listing rules.

The stock market isn’t sure what to make of it. The RNS was released at 3.20pm. So in the final hour and ten minutes the share price really couldn’t decide whether to go up or down. There is not enough detail in the RNS about the ‘relationship’, so we are all left to guess what our board has had to agree to. More information is definitely required.

No response I assume Ejackson ?

Good to see Blackrock increasing its holding albeit only by 0.04 per cent.

Well, so much for this theory. I hoped that upon reaching 250 pence in June that this would become our level of support. I cannot see anything except a clean set of sparkling half year results in November that will turn the sentiment positive again. Before that though, how much further will the share price fall on little or no volume ?

Has today reiterated its buy recommendation and raised its price target for RR from 1155 pence to 1220 pence. Our share price continues to slide however. Is there no end to the diminution of our investments ?

This is when you want your board of directors to pro actively step forward and release a positive RNS to calm shareholders and potential new investors.

I am concerned about the reason why SPD voted against the re election of Stuart Caldwell as our CFO. Is our share price being marked down because we have some bad news to come relating to our accounting methods. No smoke without fire maybe ?

It requires our board to clarify the situation.

Big sale maybe ?

Fellow investors, this is a very unclear situation. There has been an alarming slide in our share price for no obvious reason. What or who is driving this negative sentiment ? Is this to do with our largest shareholder and is there more undisclosed information relating to Mr Caldwell and our accounting methods ? Are we set to see this slide continue up to our half year results in November ?

This is a worrying time and it shouldn’t be. A simple RNS from the company clarifying the recent share price movement would help if there is nothing untoward.

The aircraft immediately returned to Rome on Saturday afternoon following the engine failure so it would be fair to assume that RR engineers were investigating the problem within a short space of time. They may already know by now what caused the problem. No doubt we will be told in due course.

It never rains but it pours ! Metal fragments in this incident. I really hope this is not a consequence of cutting costs.

I am surprised by this implication. Since taking charge Mr East has made it a priority to expel any wrongdoing and present clean accounts. If the report is to be believed and it is not as suspected Rolls Royce then our share price should be charging north. Sadly no sign of a return to pre results levels yet.