Member Info for Skindle

That is certainly one of the reasons why the price is being held at its current level Ejackson, but by no means the only one. We recieved £11.55m from the sale of Kitbag and were advised to set aside £10m to cover any claims associated with this rogue financial product. I noticed that core bank debt had not decreased after the sale of Kitbag and puzzled as to where the sale proceeds may have gone. Could this be my answer ? The past fifteen months have been awful for long term investors, the only beneficiaries would appear to be our own board who continue to pay themselves handsomely despite the dreadful fall in value. Maybe Sports Direct's claim that the board are under performing for its shareholders is a fair assessment of the current situation.

I like your calm measured comments 1GW_. 8.36% of total shares issued changed hands today, a large amount by anyone's standards. Was this two sides of a transaction or just one large seller ? Usual questions, who was the seller and who is the buyer ? Got such large transactions, it is interesting to note that the price hardly moved in either direction.

That might explain those ordinary block trade transactions that have been filtering through over the past few weeks. Question is are FIL just after an uplift in the value of their investment or are they building a stake to support the bid of a potential buyer for the business ?

191 ?? Are you looking at Findel ? I can't see 191. I can see 175 mid price.

Another false dawn Nighthawk, I'm disappointed to say.

I am pleased to note that the website has been updated to include Mr Ball as the latest NED recruit. I was beginning to wonder whether Mr Ball had been uncovered as a stooge for Sports Direct after they had failed to have Mr Gardner appointed to the board. Expect an announcement at the end of the month confirming the date of the final results release. In my opinion it may be prudent to delay releasing the final results until after the EU referendum.

Please don't be fooled about share trade direction. I bought 5000 shares recently at £1.69 per share, so not all those trades are sells.

Apologies, my post has appeared twice again.

Hello Nighthawk. In answer to your question I like to believe that £3 a share is a reasonable value based upon the fundamentals of the business and the assumed enterprise value calculation. That said, I would be reluctant to part with my shares at this value as I believe that the company is now through the worst of its financial problems. If the company continues to trade as an independent PLC and is freed from the extraordinary and inexplicable restraint of the share price then I think a rapid re rating will take place and we can expect to see the price settle at around the £3 mark. What happens beyond this is anyone's guess. In an ideal world I would like to see the company merged into a bigger retail operation for around £4.10 a share and we as shareholders then have the option of accepting cash, or shares in the buyer. Depending on the acquiring business I may be tempted to take shares. Sports Direct will not pay anything like these values so I think we can exclude them as potential suitors. It is therefore incumbent upon this board to find a suitable acquirer. Never an easy task but in my opinion Findel as a company now is a much easier sale than either Kitbag or Kleeneze was but our board successfully managed to find ready buyers for both, so their recent record is good. I don't think there will be any shortage of takers for Findel so it is just a matter of maximising shareholder return. On another note, Motley Fool are confident of a recovery in the Findel share price if this recent news item is anything to go by :- Upside potential Similarly, Findel (LSE: FDL) also appears to offer significant capital gain potential. Its restructuring seems to be a sensible strategy, with Kleeneze and Kitbag both being sold-off recently. The more streamlined Findel seems to have bright future prospects, with its bottom line forecast to rise by 11% in the current year and then by a further 19% next year. This has the potential to provide a step-change in investor sentiment, with Findel’s PEG ratio of just 0.3 indicating that it has major upside potential. Certainly, Findel is undergoing a significant period of change at the moment and with its track record of financial performance being somewhat volatile, many investors may view it as being a risky stock to hold. However, with it having such a wide margin of safety, Findel’s risk/reward ratio holds significant appeal and it could begin to reverse the 15% fall in its share price which has been recorded since the turn of the year.

Hello Nighthawk. In answer to your question I like to believe that £3 a share is a reasonable value based upon the fundamentals of the business and the assumed enterprise value calculation. That said, I would be reluctant to part with my shares at this value as I believe that the company is now through the worst of its financial problems. If the company continues to trade as an independent PLC and is freed from the extraordinary and inexplicable restraint of the share price then I think a rapid re rating will take place and we can expect to see the price settle at around the £3 mark. What happens beyond this is anyone's guess. In an ideal world I would like to see the company merged into a bigger retail operation for around £4.10 a share and we as shareholders then have the option of accepting cash, or shares in the buyer. Depending on the acquiring business I may be tempted to take shares. Sports Direct will not pay anything like these values so I think we can exclude them as potential suitors. It is therefore incumbent upon this board to find a suitable acquirer. Never an easy task but in my opinion Findel as a company now is a much easier sale than either Kitbag or Kleeneze was but our board successfully managed to find ready buyers for both, so their recent record is good. I don't think there will be any shortage of takers for Findel so it is just a matter of maximising shareholder return. On another note, Motley Fool are confident of a recovery in the Findel share price if this recent news item is anything to go by :- Upside potential Similarly, Findel (LSE: FDL) also appears to offer significant capital gain potential. Its restructuring seems to be a sensible strategy, with Kleeneze and Kitbag both being sold-off recently. The more streamlined Findel seems to have bright future prospects, with its bottom line forecast to rise by 11% in the current year and then by a further 19% next year. This has the potential to provide a step-change in investor sentiment, with Findel’s PEG ratio of just 0.3 indicating that it has major upside potential. Certainly, Findel is undergoing a significant period of change at the moment and with its track record of financial performance being somewhat volatile, many investors may view it as being a risky stock to hold. However, with it having such a wide margin of safety, Findel’s risk/reward ratio holds significant appeal and it could begin to reverse the 15% fall in its share price which has been recorded since the turn of the year.

With pleasure, at £4.20 a go !

No message.

You misunderstand Columbo, I bought, I didn't sell ! This is just waiting to break out. Fasten your seat belts.

You misunderstand Columbo, I bought, I didn't sell ! This is just waiting to break out. Fasten your seat belts.

Well get your money out then. I did, first thing this morning !

'co cerci G' should be replaced with 'concerning' in line two. Apologies.

It looks like the company has embarked upon an absolute news blackout. There is no news apart from that flurry of RNS's co cerci G holdings changes, there is no press speculation and brokers have ceased to offer direction, other than the Cantor Fitzgerald opinion at Easter. I wonder whether every single employee has had to sign into confidentiality agreements. It has become the Marie Celeste of the stock market. This has become a straight battle between Sports Direct and our board and neither are making any moves. As a consequence we as the small shareholders are suffering as we watch our investments melt away. Sports Direct however are in a win win position as I see it. If the board fail to find any outside interest,Sports Direct will eventually by this time next year effect a takeover at 200 pence or less per share. If however the board do find outside interest and realise our true value, then Sports Direct could as much as double its investment, so there is no incentive for them to make an early move. No pressure on our board then !!!

Our two most recent female non executive director appointments both departed after only a short period of time, neither of which made a real positive impact on the business. As a consequence our newest NED recruit, Mr Greg Ball has still not been included as a board member on the Findel website. I wonder why. Do you think he might be a candidate to take over as the next executive chairman ? The company AGM is in July and we know that Mr Sugden does not want to continue in his current role.

Esteemed company indeed Ejackson. It sounds to me like you revolve in circles that could lead to the discovery of an under employed younger chairman with retail experience. If you come across anyone like this, you know what to do. Our board despite a global search can't find one !! Very demanding job of course, I can see why they are struggling ? Very frustrating times, £1.70 would appear to be the latest price point to which the share price is tethered. This could go on for months or until the next time the board uncover the next bit of bad news. Something from the 1960's perhaps ? A speeding ticket in Hyde High Street maybe by a Findel delivery van that has never been paid which with interest now stands at £10m !!

I think we are unlikely to witness any acquisition activity now until after the referendum which is less than two months away now. On another note Nighthawk made an observation earlier about an RNS. It is puzzling as Toscafund sold 10.15% we assume to Morgan Stanley who then sold some themselves reducing their own position to 2.99%, so who now owns that missing 7.16% ? And finally, Sports Direct, the vultures of the business world were yet again seen standing beside the dying carcass of another great British behemoth. Very sad to see BHS going into administration but it really is a dog eat dog world. This reminds me how grateful we should be to our board for keeping us out of administration and protecting our investments.