Member Info for Skindle

I didn't realise that is is incumbent upon the NED's to force the issue of excecutive director share buying. The Findel NED's are hardly leading by example. Mr Ball who I thought might be a shrewd appointment has to my knowledge brought absolutely nothing to this party. Mr Caldwell, our new CFO who I would guess is earning well in excess of £1,000 per day has bought a lousy 5,108 shares to celebrate his new position. These people are only too happy to accept nil cost options though. All in all a very poor show from a group of people who are charged with leading us out of this hole that we find ourselves in. Thank you Lspoon1 for your reassurance over the lack of director buys and the reasons for it. Not sure I agree with your description however of our nine largest shareholders as being activist. Schroders, Tosca and Sports Direct appear to be sitting pitchside and letting the board pretty much do as they wish. I hope this is not the case, although I can find nothing to contradict this belief. N Browns half year report was not well received initially this week but the share price recovered most of its lost ground yesterday. Exceptional items were again a feature of the results.

We have moved seemlessly into the second half of the financial year and daily volume has dribbled away to nothing and the price spread has reduced significantly. The board of directors already know how the company has performed in the first six months of the financial year. I find it disappointing therefore that none of them has chosen to increase their holdings in the business given that we have not as yet entered a closed period. Does this indicate that the half year results will come in below expectation or are they just a tight fisted bunch.

Peterz123, there was a share consolidation in 2013 when twenty shares became worth one share if it helps.

I can't help you I'm afraid Peterz123, have you tried contacting the company direct for this information ?

So an element of the every day cost of sales is being dressed up as exceptional items. Yes revenue is rising but rising revenue brings with it an increase in the cost of sales. To present a clean set of accounts at the half year point, the board are going to have to declare the real cost of generating its revenue. In November 2016 the company declared exceptional items of £3.822m. Assuming that this figure was made up mainly of operating costs, they are going to find the job of declaring a clean pre tax profit virtually impossible unless revenue has increased significantly. Coupled with this of course is the ongoing repayments to customers who bought flawed financial products from the company. I have reduced my holding from 135,000 shares down to 70,000 and am holding those in the hope of a miracle or the intervention of someone who knows what they are doing.

Thanks Gerry557, I appreciate your thoughts.

Morning Columbo, not sure Lspoon1 is a holder, although that would have been a profitable move. I think Lspoon1 is a very wise and well informed observer. Correct me if I'm wrong Lspoon1.

If we carry on like this Columbo we might see the return of Ejackson and 1GW-.

Is there some bad blood between Rolls Royce and Deutsche Bank that is not in the public domain ? Today was the eighth time in nine months that the bank have either retained or reiterated its sell stance for Rolls Royce, reducing its target by by a further ten pence today to £5.60. The opinion offered today follows a very solid set of half year accounts and a share price that has risen forty five per cent since January 17. Are Deutsche Bank in possession of information that will negatively impact the share price in the second half of the financial year ?

Very pleasing Columbo but we are only back where we were on the 24th July when this unexplained drop in price started. If the board are able to support this optimism with a solid set of profitable half year results at the end of November then we could see some new ground broken. Until then I think we will struggle to break £2.

Lspoon1, there was every reason to suspect something untoward when the share price dropped from £1.90 without explanation. You were right to suspect that more bad news was on the way. I have to say I am somewhat surprised at the optimism of the trading statement today. Why, if all was going so well did the board not report satisfactory progress just after the end of first quarter in line with normal procedure. As I said more recently, no communication does not support a share price. This is the first day I feel hopeful of the future in a long while. Must be something to do with those nil cost option awards !!

I am sure we are all breathing a collective sigh of relief following the rise in the share price this morning as a result of the release of the positive (twenty week ?) trading statement. With only six weeks left to the end of the first half of the financial year, are we about to report our first half year pre tax profit since the rights issue ? Let's not count our chickens yet. This business tends to come unstuck when it is required to release cold hard figures to back up its optimistic trading statements. Still I will welcome any optimism in any form following over three years of shambolic management.

Thanks QueenElvis, today was a good example of my point, just not enough momentum to break through £9.20, despite ftse progress and then a fallback into the lower level of the trading range. It would appear that this business has fallen out of favour with the market currently, but hopefully only temporarily. A lack of recent news flow doesn't help, I am hoping that September brings a change in sentiment.

A question for the longer term holders on this board. Since the share price triumphantly broke through the £9 mark on the 9th June and that rally to £9.42 towards the end of June, there seems to be little or no appetite now above £9.20. Yes we have good support at £9, but that those two figures now appear to be our trading range. So can anyone tell me when we can expect to move up to the next level following the excellent half year results. I was certain that the results were going to take the share price north of £10 but I have been very disappointed by the cool way in which those results were received by the market, except for the 1st August of course. Have we hit the high point of the trading range and will be have to wait until next February before we see further significant advancement ? If this is the case then Driftking may have made the right decision in moving his funds into something with more short term prospects.

Sorry, my mistake, the AGM is due to take place on the 29th August and not the 27th as I stated in my previous post.

That's another eight pence or 4.90% off the weekend bid price on volume of 6,856 !!! The AGM is scheduled for the 27th August, will that be our turning point or will our esteemed board of directors release a statement that drives the price down still further ? It seems that saying nothing does not support a share price. How are Messrs Hughes and Ashley feeling about their investments now ? This company performance hardly covers them in glory !

Could simply be a private investor with 50,000 shares who has lost patience coupled with Toscafund and Schroders refusing to prop up the price resulting in the value of the share price sliding. A tight spread for the last couple of days appears to have cleared the overhang. That is my take on the situation but welcome alternative opinions.

I agree entirely, I have been making this point for a while. Last year the AGM was on the 30th July at which point we were provided with a trading update. There is no reason why we have to wait until the end of August this year for our update just because the meeting date has been moved. As you have pointed out, a clean set of accounts is critical for 2017/18 for the business to continue in its current form. It could well be that revenue is down but they don't want to report it because the summer months are historically quieter than September to the end of March. Could it be that any shortfall now could be made up in the latter part of the financial year ? I have to question also the complete lack of support from the three major shareholders who collectively could make a significant difference to our revenue, not least a supply deal from Sports Direct. Why are Tosca, Schroders and Sports Direct not more involved in bolstering revenue ?

Let's hope today sees the end to this drop in value. I can't find any onerous issues other than the Trump Jong-Un conflict that has caused this.

A profit warning ? After four and a half months of trading ? I think it is too early in the financial even for Findel to warn on profits. There could be some credence in your suggestion that the board have lost the support of some of the larger shareholders resulting in their withdrawal of share price support. The AGM is imminent where of course the board are all up for re election. Are we about to witness a shareholder revolt ? Why is the AGM one month later than last year ?