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That could be seen as a vote of confidence. He owns a big portion of the company.
Agreed its delaying tactics. They've had months to resolve this mess so either the figures were so good they wouldn't be believed or so bad they have to build a good story
Looks like someone got wind of this on Friday.
Cant work out why the sp fell off a cliff just before the close. Dont see any large sell trades so can only assume the MM's are preparing for bad news over the weekend.
the reason might me that growth is starting to plateau,the UK market is saturated and outlook uncertain. Foreign growth although growing is not growing fast enough to increase overall company growth. However 5% drop is overkill and WTB has lots of potential.
a 20pc drop seems to be a bit of an overreaction.
who would be buying this share given the update gives 2 options and one of them is administration?
As per usual with UTW,we'll know what the update will be like the day before its official release because there will be people who will already know whether it is good or bad and trade accordingly.
What should be investigated is the share transactions preceding the releases of each of the recent updates. someone was acting on info not available to the market. Not holding my breath on the fca doing anything though.
Not only that but he set up this ponzi scheme. 'Cos thats what its been all along.
I find it interesting that there isnt a statement from the Chairman in the RNS. You'd think he would have commented on such a terrible update.
Means nothing. Probably have a vested interest in ramping the share.
What a crap update. This company never ceases to disappoint.
If you think you are in a hole, just imagine the hole Woodford finds himself in.... and he cant average down without having to make an offer to buy the company.
What needs to be turned around? The problems are related to accounting practise and has nothing to do with the business model. Yes profits and revenue will take a hit but so long as they keep sales up it should remain profitable. The reason the sp is so volatile is because it is difficult to work out the true value of the company and that will remain the case until the next update.
It would be even better if the directors made some significant investment in the company if they think the company is worth investing in at these prices.
Yep, I guess its the only thing long term holders can do. My guess is that if Woodford is still invested up to the hilt on this, he may well have pushed for the board changes and accounting changes. Now that all the bad news is out of the way, UTW's financial position is more transparent albeit with a possible hit to published revenue and profit. Lets just hope the business model is still a going concern.
Its going to be difficult to put a value on this company with what has been announced. Their revenue has been so overstated who knows what profit they are making. Also how many other energy suppliers have they dont the same thing to!
So much for the golden touch of Woodford. As the biggest share holder you'd think he'd have seen this coming.
I dont think this lame duck government is going to do anything. Now if theres another election and labour gets in then thats a different story