Member Info for Yanar

Did I read today’s RNS correctly, or is my math completely off?. WCM Investment Management, LLC Bought £2bn worth of RR shares?

RR just blew the doors off!

They are leased.

Bit of a non-update. So they haven’t fixed the problem yet, and are offering ‘Jam tomorrow’.

This looks like a structural problem that’s not going to be resolved quickly, hence the sustained drop. The worry is cancellation of dividend and a rights issue. We shall see soon at the next RNS.

I think the issue here is confidence in senior management / board now - who declared a great mid year, then within weeks dropped a bombshell! The other issue, is that the dividend may be at risk moving forward. I think this one is on a knife edge. If things are still not great in the Nov update, we may test 60p. If things recover, we may get back above +£1. Either way Senior management reputation is shot; only time and fresh leadership will drive this back imo.

Noting a lot of these Startups (i.e Nuscale) are carrying a lot of debt. Tufan is going to have an enormous war chest to knock them out when he decides to do that…. Or buy them. He is going to be sat on a lot of cash waiting and watching. RR will dominate this market.

I bought into a share like this, in a company called IQE, quite some time ago. I remember they issued a shock statement shortly after results…. Then another and another, culminating in a ‘rights issue’ which caused the share price to collapse and cancellation of the dividend. I’m very worried about this happening here; history tends to repeat across these types of companies - TTG may have only uncovered the tip of the iceberg with their current issues. At this current recovery I’m out. Best of luck with the update in November.

Despite this setback, profit is still expected to be way higher this period, than last year. Yet the share price is half?

This business is ripe for takeover. I think the business is being transformed under new leadership, ready for a sale.

RR employees are set to vote on whether to take strike action over pay.

‘Winning Together’ Presentation today at RR. Key messages were from the Leadership were:

“The truth is RR still isn’t fit for the future”.

“We are still behind our competitors”.

“We need major transformation of our business”.

“We are going to build a better business by transforming what we do”.

Looks like things are going to be shaken up very soon….

…..and for those colleagues who moan on here saying they didn’t have a presentation, the summary was emailed out to all RR personnel. The presentation is on the main page of the RR engine room internal website.

It sounds like an industrial relations dispute is brewing between the company and workforce over the 2023 pay award. Unions potentially starting to canvass the workforce for industrial action imminently. This is going to derail Tufans plan and could significantly impact the share price if it’s not sorted quickly! May explain the recent drop in the SP?

Kept repeating himself for 90mins about profit and talked about what investors wanted. No solid information about transformation yet - his strategy review is still ongoing. Roll out of strategy / announcement to be made at the end of June, so 2 more months before he swings the axe!

I hope so, since HE sent out an email and link for ‘all employees’ to join him, as he updates us on his business review and transformation update!

Last time he sent one of these out to us all, he did his ‘burning platform’ speech.

Tufan’s doing his second ‘burning platform’ speech to all RR employees today.

I suspect it will be a grim day for the workforce.

There’s talk of the business being taken over in house too. Hope that doesn’t screw up our share save plan!

Has anyone else noticed anything about the latest set of RR Senior appointments?

They have on average only held previous roles for circa 18months throughout their careers……. Leaving a trail of destruction for the poor person behind them!

Also have a listen to Tufan speak (in one of his presentations or videos online)…. He sort of reminds me of Gru from the Minions?

To the moon…..

More internal site wide announcements today from Tufan!

Big re-organisation on its way from Jan next year. Emails sent to all employees today.

Re-organisation to focus on cash and profit.