Member Info for unhooked

I'm one of those long-suffering LTH's who've stuck it out, mostly because I dislike selling for a large loss. I've bought at all sorts of horrible prices before the fundraise. I also bought Rights at £1.97 and then (most fortunately and bravely) held my nose and topped up one final time in the 140's.

We deserve some good news! That the market is rewarding SYNT simply because the update doesn't contain another 'bomb' tells us something!

A long, long way to go but one can only hope this is the start.

Hello SB, good to read yr commentary on this share again. I didn't know about the current nasdaq 20% rule, that's v interesting. Step by step is what I think. It could be an interesting summer indeed! Tbh, I didn't notice the placing of restrictions on who will be allowed to participate... Clarification would be helpful.

As others have said, it's sensible and good practise to take advantage of a spike in the share price, no matter if that spike was caused by a factual event or just a rumour, to get a fundraise off.

A few weeks ago, when the sp was circa 11p, we might have been looking at a discounted placing, set, perhaps, around the 7-8p mark. In that context they really have pulled the proverbial rabbit out of a hat by raising at 20p and I can't complain much about it. The fact that the sp hasn't instantly dropped to 20p is interesting too. It suggests the fundraise will be oversubscribed. Looking ahead, I'm hopeful there'll be further opportunities to reduce my holding in RENX at much reduced losses.

The position today is incomparable to where we were 6 weeks ago.

Let them take it private. It's a crap company. At least there won't be any more fleecing of PI's in share placings, which is a very good thing. Let the management face the heat of investors in the private markets. I suspect they'll be out on their ears if they don't perform. And if the company does turn around, well, we still have our shares - they didn't put the company into administration, in fairness. Don't get me wrong, I'm not predicting for a moment any future value, especially traded OTC, but they don't have any value now and - who knows - maybe one day those clever PE guys will dress it up and bring it back to market and we can all cash out! Lol. We have nothing to lose.

... is a tricky business! I thought we were near there last week, when I bought in at 155p. The Update of 07/02/24 didn't read too bad to me - a 'strong' rental market and signs of a 'recovery' in the investment market, we were told. Yet here we are 2 weeks later with the share price down another 13%.... in fact now even below the dark days of 2015 when PSDL was in its infancy. I am really surprised.

But then this isn't the only over-indebted specialist investment trust getting punished lately. We are being discouraged from investing in anything which isn't large, plain vanilla & with lots of cash. What a bl**dy market!

Yes davey, same here. The lesson is if you don't cull your bad investments the market eventually catches up and culls them for you!

I took a speculative punt on these years ago. The great thing about holding an investment that's already a disaster, is that when the end finally comes, it hardly registers. My LOOP shares worth £250 quid last week, are now worth £50. Who cares?

Hello oldbutnowisa, thank you for the comments. The thing is I've heard for years that good news will become "apparent in some six to nine months". But it hasn't. Maybe this time it will be different! In any case, I don't want to sell at these prices as I don't think the company is going bust. Equally though, I can't bring myself to add any more (I've also had bites on the way down), which I ordinarily would do, because I've lost faith and am concerned about throwing good money after bad. Averaging down has not been a winning strategy for me over the past 2 years, but I suppose at some point it will become one. Btw, great that you've put a portfolio together for your son - v impressed with that.

I don't mean to add to the air of general despondency on this board, but I can now buy this share for under six quid, ffs! Seems to be no sign of a bottom either.

Jeez, what an investing backwater the London market has become! Nobody's buying, nobody's putting money into the market, in fact it's all been sucked out. All gone to America, or to bonds, or to bitcoin, or cash.... I feel so like I'm fighting a losing battle when I buy UK equities. Year after year, the opportunity cost is immense...

British ISA? My*rse!

Does anyone think there'd be no buyers of FUTR shares at such mad prices if it were listed in America?

Nobody wants our shares, that's what happened. I imagine investors are losing patience. It's understandable. Over the past 4 years profitability has been going only one way - downwards. This was supposed to be a counter-cyclical play, but whether in good times or bad, MANO has turned out to be a badly underperforming business... they always seem to have an excuse, but, frankly, these are wearing thin. I'm a holder.

Trisor, I'm not criticising him for being quick of the mark to buy - no problem with that - I'm questioning the speed with which they rushed out the RNS. I've never seen a Director's share purchase published just 3 hours after the profit warning was published... it's unheard of... and looks desperate... and simply hasn't worked in terms of the naked PR stunt it was meant to be. I'm also criticising the amount spent on the buy, which is derisory. We are not fooled!

Rushing out an RNS of his purchase this morning looks bad. And spending £53k on a 1st purchase of shares is a poor show - it's peanuts, a fraction of his salary, even Lewis bought 1 million shares in one go back in the day. The share price reaction (a further drop) suggests they shouldn't insult investor's intelligence with these desperate looking PR stunts.

Well, I don't know, but it feels like I'm the only one buying down here. Having previously bought at just under 30p and then sold in the mid 60's, I have very fond recent memories of this share! Never thought I'd have an opportunity to re-buy at under 30p, but that's exactly what has been presented to me.

Position size appropriately to ensure one can handle the volatility and, with luck, investors should be 'fine in time'...

CPI mission statement, as management see it, neatly summed up with the sentence "As a Group, we continue to put our clients and their customers first". Great! Investors providing the risk capital of this poxy business? Who cares?

Paragraph after paragraph of, as one poster put it, 'woke sh'te'... doing all they can to skirt around the subjects of profit, cash, dividends, debt and shareholder returns, never read so much waffle!

The penny is dropping. It's hard enough to successfully pick recovery/turnaround shares at the best of times, but when the company is as low quality as CPI is and when management's priorities are so apparently unaligned with shareholders, it's nigh on impossible.

Today's not the day to sell this share, but I'm so done with CPI. Yet another perennial dissappointer.

And they're out!

Nothing special. Just plodding along. I've held this share for nearly 4 years now and it's been a perennial disappointer. Year after year management drones on about executing their 'recovery strategy', which never seems to makes any progress. Another year with no divi, so we're not even being paid to wait.

My patience is at an end. If it looks like a dog, acts like a dog and sounds like a dog, it is a mangey dog! Onto the cull list Sig goes. Just waiting for an opportunity, I'm so ready to move on.

Another fair point. The BOD are clearly out of their depth. They have done the right thing by obtaining an independent valuation. From here, all they can do is continue taking hopefully good, undoubtedly expensive, advice and, step by step, ensure that they follow best practise in discharging their fiduciary responsibility to us shareholders. A v unfortunate situation.

Saietta finally gets itself onto Mr King's TV programme. Well done Saietta!

Thanks. Interesting. Well, ultimately, an asset's NAV should be what someone will pay for the asset. Short term we have the overhang of income funds selling out.

Very fair comment. I can only hope that the discount to NAV that might be applied to a sale is considerably less than the discount that the current share price of 55p is on the restated NAV of 92p...!

A supplementary question might be: are there many/any? specialist buyers of a music portfolio outside of Mr Mercuriadis and his cohorts?

Material reduction to NAV following independent valuation. Debt to be reduced in line with restated NAV, so divis suspended for the foreseeable.

Note to self: be wary before investing in sexy new asset classes.