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"It makes a massive difference - new board members will be employed..."
The reputational damage done to Evraz by claims it supplied steel for Russian tanks is huge. Can't see anyone decent wanting to become a director. The people that were directors don't want to be directors!
I have to assume that my investment here is lost. It's a massive punch in the gut. I'm not sure what protection the FCA think they can offer shareholders by suspending shares but it would be interesting to know.
The only protection I can see would come from the sanctioning of the company itself, not just RA. That way any cash held by the company could be frozen and distributed over time. But I'm not even sure if Evraz holds any significant amounts of cash in UK bank accounts.
Infinity8 - I wasn't sure which two directors the RNS was referring to.
To be a concert party, I think you just have to be holding separately but with the intention of voting as a single block.
The separate holders don't have to be related to each other (e.g.family members), if that's what you mean.
The RNS states that RA doesn't have a majority but that he has appointed two directors. The RNS doesn't clarify what percentage the two l directors hold. Does anybody know?
Presumably, if between them RA and the other two directors have the required majority then they could be seen as a concert party.
Apologies if this has already been raised. I haven't been following all the threads.
Luis2018 - not quite the same thing. You're comparing the potential risk of vacine side effects against the potential risk of radioactive contamination.
The public and politicians won't be supportive of rushing nuclear projects IMHO. Especially when there are still other options.
I'm surprised at how much relevance the market attaches to the Board's views on the trading outlook for the year ahead, given that the same Board underestimated the sales for the Christmas period. It's all a bit "finger in the air" and should be viewed in that context IMHO.
The BOD will have good insight into some aspects affecting profits for the year ahead but they don't know how many other aspects will play out in practice. It's an estimate and their last one wasn't that spectacular.
I must have a medical condition that doesn't allow me to sweat. I first noticed it in a Pizza Express when I was eating an American Hot. There was absolutely no sweat despite the jalapeños.
Again, today I feel no sweat despite the double digit percentage drop in the SP. Card Factory are taking in more money than they estimated, are reducing debt and will deal with any inflationary pressures in the same way as other retailers will have to. The shops are open and busy, and that's the most important thing to remember.
Prices may have to go up but from where they are now we can count on the fact that we will still be cheaper than the rest. Let's face it, a 5p/10p increase on the price of a greeting card won't put most of our customers off from buying one.
GLA
Pat2014 - the market sees things that we don't... ? That cliché simply doesn't apply here.
Firstly, the SP has fallen due to concerns that inflation would cut into profits. The impact of inflation had not escaped the attention of most people on here. We saw inflationary concerns having a similar impact on the SP of Greggs and Next earlier this month.
Secondly, Lombard are not "the market". The market valued Card Factory at 63p yesterday so I guess the market got it wrong?
Finally, Lombard also got it wrong. Their short first appeared when the SP was 54p. The SP is still above that even now. Okay, they've averaged up to about 57p but their original position would have left them out of the money. Even now they are not making a killing.
I'm as disappointed with today's drop as anyone else but misplaced clichés are not helpful right now.