The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
From the news '"The majority of the claims are being generated by a single Claims Management Company," Vanquis explained, adding "they are spread right across our business but are predominantly linked to Credit Cards".
"Most of them are completely unwarranted (eg not even a Vanquis customer), but sadly we have to investigate every single one, and each investigation has a cost associated with it," the company said in a statement.
Vanquis said it was exploring proactive legal steps to address this situation.
I am just waiting for the TV adverts ' has your company been affected by spurious legal claims'? If so we at Fightback legal are here to help just call.....
However there must be a duty on the claims management company causing the problems to vet them first, so maybe they can claim back costs for those that are entirely without merit. Could the FCA get involved?
Kingalf, I agree nothing has really changed but it has become fairly obvious that almost nothing has been done to market a great product.
Yes nothing changed because nothing done.
As I recall on the Lgen chat an investor there , who previously was snr within that company likened the IFRS9 effects as sort of putting some profits into a 'pot' from where they would be drawn at a later date. I think this company needs to explain that effect so as to restore confidence.
Gruy, yes Eliot can then re enter the race and maybe that is their game plan - force the bod to talk to shareholders about a jd bid and then re enter.
Stevo, a few points on retail cost of energy;
1.it is always based on previous quarterly costs fo lower wholesale tday will not show up for a few months as you indicate
2, About £47 of each custmers bill is to pay for the bad debts caused by those who can't or wont pay - this has doubled caused in part no doubt by the outcry over forcible prepayment meter fitting
3. It used to be the case that about one third of the bill was network charges
4. Additional costs lumped on for green initiatives like the useless smart meters , failed insulation schemes renewable subsidies etc- these have grown over the years
5. Vat then gets added to all the above government charges so they get to tax us on their taxes
The good news imv is that the public are waking up to the idea that if energy gets more expensive we kill the economy by destroying jobs , further impoverishing our failing nation. We need the equivalent of a 'Thatcher Revolution' led by someone who can cut through the green fog and spell out a compelling way forward. Don't see that person just now but I live in hope.
Sentiment has switched in line with aim unwritten rules. It will not fall much further bc we will be issued a good news rns to enable the mms to sell the shares back to the market at a higher price. Either stay in or stay out is my advice just dont react to the sp every few days.
My average here is still 87p but it may come right this week.
Btw I wish Mr Lewis would investigate my local council - I pay £4k council tax for a bin service . The costs are likely higher because of the damage caused to the collection lorries because of the extensive pot holes in the road outside.
Here's the thing about car loans - as a consequence of the FCA government encouraged milking of this financial sector the prices will rise and consumers will pay more for the added hassle , Won't help in short term but companys will put rates up this year for sure!
Cottill, I am not sure the cadbury comparison is valid bc Currys dont actually make anything that can be sourced elsewhere.
Clearly some in the market knew on Friday, causing the sp to drop then . I expect this will now bounce around today.
What a disappointing RNS today. 3 things spring to mind; firstly Elliot are trying to force the bod to engage through their statement, secondly the bod are putting their own intrests first by refusing to engage and should be sacked and finally unless jd.com or another bids or are seen as likely to bid the sp will be back below 50p , proving Elliot correct in their complaint that the bod are wrong to not engage. Not impressed personally.
Mary, If only that would happen but with Pentland owning almost 52% I doubt it will happen. Btw a year or two ago I asked you about MSI and you replied too expensive for me. I realise they have gone up since but with the age of the BOD they could get a bid for their defence interests imv.
If the sp drifts much further the company will be encouraged to put out a RNS along the lines of great progress and interested parties which will lift it enough to enable the mms to offload the shares they are collecting just now at a profit. That cycle will repeat all summer until we get some real news imv. Good luck to all.