Member Info for varun25

Not surprised to see the results today and expect continued strong growth. The isssue though is that there is going to be an overhang on the stock until the DCB liabilities are fully paid off next year at which point I can see the share price rallying to reflect the underlying business which seems to be doing robustly well.

The trading update was relatively robust but the spike in the share seems to have been sold immediately. Until we get clarity on the CMA investigation, the price will stay depressed. There is a lot to like about the business but do not think that CMA investigation is going to let the share price reflect the numbers.

I really really struggle to see why Michael and Billy are not putting hands in the pocket to buy. Them buying perhaps doesn't change the price directly but does put a floor on the sentiment ont he stock which is max bearish right now. completely disjoined from underlying cashflow generation dynamics.

Been adding small portions and crying as price keeps going down... Frustration is at max level on my side.

May have missed something but what are Zeus saying / doing now?

Wow. Even more stomach churning declines today morning. The buy backs are up but there is some seller who wants out at any price. Do they know something that we don't i.e. the next results are going backwards compared to expectations?

Agree that they should absolutely double down on the buy backs. At current valuation, I don't want dividend. I want them to cancel shares.

Even a token investment say £50-100-200k investment from Green and Riedel is helpful in putting confidence in the prospects. so far, complete silence from them.

Good to see that the pace of buy backs has been increased though, atleast for the last 2 days.

I believe the closed period ends on the day they release the results to the market so we should have seen some buys from directors if they wanted to. I suspect Max Royde may be scared to double down as he already has 26% stake. Would have wanted Michael and Billy to put hands in the pocket to put some confidence in the prospects/share price but perhaps they are not interested in buying more than what they already own.

Why would you say so?

I have done this already.

Can someone write to Max Royde and ask him to pass the message to Board what we think about the buy back? Not sure how to go about it.

Agree with all of this. My average price is £1.20 and this is my 3rd biggest position so no spare cash to double down but the price seems all wrong at the current level.

I have written to the company via the feedback form. Not expecting any response or anyone to even read it but had to get it off my chest that the price is wrong and management should work quickly to work on the share buyback option. increased pace and / or an increased quantum of buy back.

Which means that the EV/EBITDA of 3.8x is wrong. Intrinsic value is much higher than 82p. I even did a simple discounted cashflow analysis and assuming 10% discount rate and low / no growth, I get £1.20 as the intrinsic value of the business.

Can someone lend me money so I can use leverage to buy more into this position? I promise to return it with interest... My promise, after all, is as solid as Shinez acquisition.. :-)

After today's 5% drop in share price, this is now an EV/EBITDA of 3.8x. That only makes sense if the EBITDA is likely to collapse. BUT the company said we are on track for record EBITDA... so either market is wrong with the valuation or management is wrong with their estimate of EBITDA. which one is it do we think? We really need management to double down on buy backs till they figure their strategic options out.

Someone who has contact at the company or at their broker (Zeus) should be reaching out to the company saying that a bunch of us investors are desperate for company to jack up their speed of buy backs or indeed to add to the buyback by say $5-10m.

This is also screaming for a Director buy to get the confidence under the share price. I notice continued price weakness today. We need ramped up buyback and a Director buy to get people like me to invest more / double down.