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Alas_Smith
Also looks good me, market likes it.
https://www.londonstockexchange.com/news-article/ITRK/final-results/16361312
Https://www.londonstockexchange.com/news-article/ITRK/acquisition/16358918
Hope1815
"Boy you lot are fun the outlook is always negative"
I assume you are not a long term shareholder as that is all we have had for the last 6 years. As is said "It’s the hope that kills you"
GoCPI
I agree with what you say but I want to add "those who do not remember the past are condemned to repeat it"
Culley01
"It seems the whole future of the company lies with how AH is going to tackle the lack of FCF"
Agreed, but this has always been the case, JL chose to ignore this and sold off the family silver just to keep going without solving the underlying problem.
Kipper9
Agreed, there are some very big questions to ask on where all the money has gone, also add in over £100m loan notes CPI issued about 6 months ago at high interest rate (more debt to service). Far more has been pumped into this company than it is worth.
We were told at the RI by 2020 CPI would make a good profit. You can blame Covid for problems after that but a lot of companies make huge amounts of money administering the many Government schemes during Covid wile they were throwing money all over the place, where was JL and CPI, too busy using Covid as an excess for poor performance to take up a golden opportunity.
JL is cleanly a liar or useless, he either lied about CPIs true state when he took over or performed a useless job spending more money than he saved. Either way he did not deserve his huge remuneration package, he should have gone years ago but would have lost his remuneration package. JL is only good for making excuses and taking huge amounts of cash while failing badly, I sure his mother thinks he is great but the long term shareholders have a different opinion.
At present this company is run for the benefit of the BOD and the staff at the expense of the owners, i.e. the shareholders, that must change or it will not end well for everyone.
Bubbles59
"For a start,he has saved Cpi from bankruptcy"
I really wish he had not, if CPI had gone bankrupt I would not have bought the rights which I had to to avoid CGT and as the current value of the my shares is far less than the money I put into the rights leaving me with a huge loss. In other words not only did JL sell off the family silver it took far more money to keep this mess going than it is worth. All of this for £1M+ per year he got from us the shareholders.
One thing that could happen is SHED dispose of most of APIs assets (ones that don't fit) at NAV or close to NAV leaving just a few that are a good fit with SHED. This will be like liquidating API (at least most of it) and even if assets are sold below NAV will net a tidy sum as discount is 35%. I just made a decent sum on EPIC liquidation even though they sold the assets at around 10% discount to NAV and put some into API.
However part of me would like to see this go away so the SP can recover but I suspect even if this happens SHED will not be trusted not to do this again in the near future.
Kipper
"Observation: There are certain very nice people on here who do not seem to be able to separate 'wishful thinking' from reality"
Could not have put it better myself.
There seems to be a number of people (not just this board) who treat shares investments like fans of a local football club. No matter how much we want (I certainly do) or even believe the shares should be double, tripple, 10 times it makes no difference it is the institutions that count.
It is not what you think that counts, it is what they think.
Look decent and more or less as expected, good news is dividend increased to 2.05p
https://www.londonstockexchange.com/news-article/BBOX/dividend-declaration/16356708
I believe the share certificates are no longer valid, you will need to get you holding registered with a broker that trades these shares.
"I guess institutional investors pay 30% WHT so a SP drop of ~5% on ex-divi day is more appropriate than ~7%"
I would guess most pay 15%, I say this as I had to fill out a W-8BEN-E just recently for 2 companies I own (what a job, makes W-8BEN look simple) and this gives the companies 15% WHT, from the information I read most companies if in a country with a dual tax agreement will pay 15%.
Still going down
Numerco 9400/9700
Was wondering why discount so high with YCA for last days, tempted to take some more but it did not feel right. Do some people know something I don't and had pre-knowledge of the fall.
Hi machin
If you look at the Oak Bloke
https://theoakbloke.substack.com/p/dec-imals-and-decibels
and
https://theoakbloke.substack.com/p/dec-imals-and-decibels
Which states
"For long-term DEC hands at a 10% of shareholders opting a tender, that’s $5m of divis saved, £0.40 of NAV added per share …. PLUS 90% of shareholders received a 31% yield at today’s price."
I understand this is the tender offer which is in effect a BB so the calculations for BBs are similar
The problem with the BBs is thay have been Anemic and Sporadic, I saw somewhere that only about 2% of the shares have been bought back against the 10% (max allocated) since I believe last June.
BBs reduce the amount paid in dividends and also greatly enhances the NAV as stated by Oak Bloke
"Lloyds also have Citra - buying property for rental income"
Take a look at Home REIT and all the money they lost on Social housing, impossible to get the rent from some tenants and you can't evict them without huge costs and bad press. If you want to go into property buy warehouses, a shortage, best return and great rent collections. Social housing is a money pit.
"Near as damn it £30bn of PI's money on social housing"
That is the way with so many British companies the BOD think the companies money is for them to distribute as they like often on their own causes and themselves, shareholders should take what they are given and be happy.