Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
If you are looking for value in this share best hope any potential investors don't either read the news or do their homework as the BODS running this business have reported losses of circa £510 million over the last 3 years alone and have sat on the beach trying to turn back the tide whilst the share price has fallen from circa 600p to roughly 3p currently ( at it's pre-consolidation price in December 2019 ). So if you genuinely believe their are investors out there ready to sink big money into this business based upon their recent trading history and in the face of probably the biggest downturn in the property industry since records began then the very best of luck.
Lots of small trades today but standouts are actually 3 separate sells of 10,000 at 62.2 so either after a profit to pay their gas bill or no confidence in achieving 70p until it snows again. Don't forget your lottery ticket.
There maybe hope value in this for some based upon its previous share price. But the clever money has already seen that it is bumping along at circa 60p for a reason and based upon the current set of BODS track record over the last 3 years that's probably where it will sit. So again best of luck with this one.
Don't get too optimistic on this puppy. Before you dream of untold riches just look back on the performance of this business over the last couple of years and the 95 million pound debt around its neck. Anyone dreaming of 100p for this share is way off the mark and clearly has not done their homework. A lottery ticket is in my opinion a better bet but best of luck anyway.
Think you will have a decent wait for the BODS at CWD to do anything yet to re-open as the muppet who has gone against Government advice to do so in your link as received so much vitriol and general abuse that he has closed down his Facebook page and I understand that he has decided that maybe his 15 minutes of fame in trying to go against everyone else in the industry was not a good idea after all.
Without being too negative the assumption is that their current pipeline of sales is ' clean ' i.e those are 100% actual running sales and not some already cancelled. So probably safe to assume at least 10% have already fallen apart ( but not off their books ) and once we get close to ' normal ' or whatever that will look like how many of those sellers/buyers will want to proceed. Would you increase your mortgage currently? So say another 10-20% fall down and then the outlook starts to look a whole lot different if you rely on what the BODS are happy to put out as fact good luck. Just my opinion.
Share price closed at 37.50 as at 17/04 so roughly 1/3 of the last post here on 19/03 admittedly both RM and the Z listers are both down but nowhere near this puppy as lots of bluster from RM leavers still only a drop in the ocean if they do quit and no sign of the likes of Connells, CWD etc. Jumping ship. Probably worth a punt if it dips below 30p.
Still no word regarding the BODS or non-execs. taking a 20% pay cut to show solidarity with their beleaguered staff. Not surprisingly given their recent track record. Couldn't give a damn seemingly just happy to continue watching the business fall off a cliff with no shame whatsoever.
Certainly worth a punt if you're feeling flush. Unfortunately the debt to the Banks at circa 90 million and rising by the day will continue to haunt them whichever way they turn. Borrowing money to buy business is always a risky option and the BODS kept betting on red when it turned out to be black every time. Even the mad Dane cleared off with his money ( if he ever had any ) once he woke up. Best of luck to anyone on this train.
Government directive in place to delay results for at least two weeks issued on 24th March. Pity I was looking forward to a good read.....
I beg to differ Sir. They must know something the rest of the country doesn't as they are going on a recruitment drive! Jobs posted on their company website from just TWO DAYS ago so get your application in quick. What a shower.....
Share price now falling off a cliff. Clear to Rightmove dissenters don't see this ship as the answer to reducing their costs. Maybe if Zooplankton up their current 9 month offering again they can really make headway probably squeezing out OTM even further.
Another day and yet another bad news story appears in the trade press as staff at their Lettings/property management hub in Nottinghamshire felt forced to still turn up for work after the lockdown had been declared according to a whistleblower. CWD swift to deny of course but damage already done. Lack of management/empathy being shown yet again. Can't remember the last time I heard anything remotely positive to cheer even the blind optimists that the current bods can steer this ship to calmer waters.
With the current share price circa 48p that now makes the pre-consolidation price roughly 1p so now essentially a penny share if my maths are correct. No one can deny or make any argument to the contrary that the corona virus has not played a part in this catastrophe but now must be the time for Oaktree to step in and take what's left of the business private or see their current holding all but wiped out.
Totally agree that the BODS should show some proper leadership and take a hit particularly the top decision makers who helped to trash the business by making rash decisions like agreeing to rubber stamp the purchase of Lettings books for vast sums even when the Lettings fee ban had been announced. I very much doubt we shall see any such move as generally those people who have the most money least like parting with it. Last time I looked the man in charge held over 3 million shares in CWD so hands off. But I maybe proved wrong as their just announced pay freeze and their rather laughable ' acquisition freeze ' statement doesn't quite cut the mustard.
My understanding is that approximately 95% of the whole group is now furloughed and when you are looking at 10,000 people that's a heck of a lot of empty chairs. The BODS had no choice as all Branches were already on lockdown and the majority of their IT equipment was desk bound on the Lettings and Sales side of the business so even routing phones to mobiles was of little use in dealing with enquiries. The rest of the business can work remotely as they have laptops ( not conveyancing as that's desk bound as well) but who wants a mortgage or survey now? So not good at all LSH just following their lead.
Embarrassing is probably not the word to describe this latest announcement. It's now Hamlet Scene 2 Act 3. Is no one going to carry the can for the quite appalling series of mistakes and untruths which continue to be announced by this inept shower of BODS?
My maths was never that good but 83p means now trading at less than half their pre-consolidation price of 7p? Wow.
Agree Sain. Cannot be long before Oaktree step in they are well aware of what's been happening since day 1 with their man Kramer sitting on the board. God knows what must have been going through his mind while this car crash has unfolded. Much like a ferret staring at a bunch of fluffy rabbits!
Sain. I agree with your sentiment on this train wreck that the current set of BODS have allowed to develop over the last 5 years or so all of which has been well reported. In reality any business is only as good as the people within it either at the top ( BODS/Executive Team ) but most importantly the hard working Branch staff who are the real workers and face of the Company. The Brand(s) are vital for any business and will be fiercely protected and are locked in to the core of CWD because a re-brand to Countrywide Estate Agents is just not a viable option. So it is not possible to hack off a Brand from within without agreement and in my opinion even the useless BODS wouldn't sanction that I am pretty sure ( LSH excepted but that's a different story ). The remaining Branches remain the main source of cross over business ( surveying excepted ) and to take out the biggest earners Dixons, Abbotts, Hamptons etc. Then it really is game over. Just my view.