Member Info for Targa123

think you'll find the material misstatements are before the last cfo. he's the one who could be looking at jail time. the amec acquisition was a f****.

You're wrong. They are buying the company from us for 35p. Then they are putting money into their own company. Idiot.

How is that right with a cash injection? - theyre not giving that to us. Grief.

I guess 35p is better than nothing but Ill be making sure the police and financial authorities investigate those scumbags who screwed the books to get their bonuses.

Surprised still no news in press about a potential take out price.

There must be more bad news to come on the financials if they are waiting for those to be published.

Company has been useless at saying how they are dealing with the people who have manipulated the accounts.

Think they're waiting for an excuse like Trumps tariffs to cancel again.

And unfortunately you can't sue the auditors for not auditing....

Our net assets are about to get written down because of the deloittes review.

Interesting to note there was no statement from wood about doing nothing like holding onto your shares haha, what a bunch of cxxts. Can't wait for how many hundreds of millions has to be restated, they haven't dared tell us what material means. So called Directors and Non Execs are damn useless waste of money.

David Kirby was the previous CFO for the years that Deloittes are saying have to be restated. Perhaps the Press should be interviewing him as to how this happened.

Geez, you saying we are paying a stack of money for a poxy NYSE listing and the accounts have been mistated, these Directors just dont have a clue. Noticed that the Non Execs include people from Amec days as well. I'm amazed they are still around after previous write offs for toxic contracts. Non execs good paid good money and yet internal audit never disclosed the material issues on the contracts. I'm amazed people haven't been fired. Please get the Fraud squad in to investigate.

£6.5bn order book really isn't much profit at the end of the day.

All it does it tell us that we've been lied to since 2022. They should be calling in the Serious Fraud Office.

So really there's criminal implications here, fraudulent misstatement of the accounts.

Stupid question

Grief usual nutters out on the board

O Following provisional indications from the Review, the Company is evaluating the extent of prior year adjustments which the Company expects will be required in relation to the Projects business unit and their impact on previously reported adjusted EBITDA for FY23 and any prior periods

That could screw the whole deal. How bad has the financial accounting for projects been, have they taken profit well before it should have been?

They gave fa guidance on that! Shows how bad their controls were that they didn't know. Finance people should have their bonuses recovered from prior years and be sacked.

Not much good when theres a cash outflow in 2025 and they will have to sell parts of the business to fund it.and deloittes havent completed their review yet.

You must be a lonely old git JamesKnobford

Well you ain't got a clue about accounting then. They could reduce previous years earnings and write off recoverable income ie the value of the company. Best steer clear of telling people about things you don't understand.