Finsbury Food Share Discussion Threads

[spaceparallax] 06/2/2014 08:39

Yes, the tardiness of his declaration should be investigated.

[gargoyle2] 06/2/2014 07:03

Here's a note on the model code on share dealing. Just found it through a google search, so can't vouch for its accuracy:



However, it does say that a director should before dealing get the chief executive's permission and then deal within two days. Assuming that was followed here, the company should have been aware that he was dealing. And yesterday's release after market hours stinks imo, especially when the company was notified the day before. (I don't actually hold here, so I'm not sure why I'm so annoyed about this!)

[bonio10000] 05/2/2014 21:31

What was the share plan the other directors had for about 10% of the company?

Any link between that and them opting to sell the family jewel?

[topvest] 05/2/2014 21:11

Yes, that is disgraceful behaviour from a NED. If this was his mistake, and I suspect it was, he is either clueless or corrupt. If, however, it was the companies fault it is even more serious, but I think that unlikely. He should be fired straight away if he didn't notify this promptly. Any NED with a functioning brain knows that this sort of thing needs to be announced. What is he doing as a NED if he can't administer his own shareholding properly. Not a major issue otherwise for the Company. Not helping the price though. Oh well, still think this will bounce soon as looking very cheap again.

[callumross] 05/2/2014 20:54

Does anyone know the market rules on how quickly director selling has to be notified? I have often seen director buys and sells notified to the market on the very day they took place. You are right Elite. It is hard to "forget" 5 big trades but maybe he did not forget. Maybe he just did not want to alert the market about his selling and push the price against him until he got out. It may or may not be against the rules but it certainly is immoral for a director to behave in this way. He is certainly laughing at us now. Wouldn't be surprised to see the share fall further just on the disgust of PI's at this kind of person being entrusted with their investment.

[gargoyle2] 05/2/2014 19:45

THat really is shoddy behaviour by the director. I would have thought that failure to notify the company -- when he must know he has an obligation to do so -- is a sackable offence.

[el1te] 05/2/2014 18:40

Indeed Callum. Had I known about him selling, I wouldn't have followed FIF as soon as I did

20p further down from that level though so not too bothered. I have seen times before when directors have literally 'forgotten' to notify the company, and the notification has been made several months later. It's rather different to 'forget' after 5 trades, so that can't be the answer

At 47.5p though, it's very good value in my opinion, regardless of the lack of past growth. Heavily oversold as well.

El1te

[callumross] 05/2/2014 18:35

This announcement of sales by director Mr Monk at 68p stinks. It took him months to declare this to FIF. Hasn't he done very well out of this when you see today's price! Anyone thinking of buying this one must wonder about the people running this company. Is there not rules that require him to declare these sales timeously and not have to wait months before advising the market?

[smithie6] 05/2/2014 17:54

24th Jan
"today issued and allotted 641,800 ordinary shares of 1p each ("New Ordinary Shares") following an exercise of options."

perhaps 641800 shares being sold since then

[smithie6] 05/2/2014 17:52

sp falling like a stone recently....

maybe the outlook for rain in the Russian wheat fields is bad !

(and hence that flour price might be going up....
or similar for sugar)

[smithie6] 05/2/2014 17:51

the director Monk selling around 60p in Oct and Nov...

but not reporting it till today...

is that not breaking the rules ?

[salpara111] 05/2/2014 17:40

I have been watching this one for quite some time but never invested and the last update did not change my mind.
They have several issues including flat sales, rising costs and the inability to pass those increased costs onto their customers so I will stay out for the moment. The share price got away with itself over the last year and is now just correcting for that.
If you had held this for the last 2 years you would still have beaten the market soundly.

[el1te] 05/2/2014 16:00

Indeed Boffster. It continues to defy belief! This drop has been relentless

[boffster] 05/2/2014 15:57

I don't understand why anyone would sell at this price, what are they afraid of? Or is it just movement of money into racier stocks, the next big thing?

With rubbish valuation, solid business, strong cashflows, little debt, surely we're an acquisition target. And I couldn't see that happening for less than £50m

[topvest] 03/2/2014 15:19

Patience needed. I would expect it to bounce soon. Good opportunity for an institutional holder to start buying in / topping up.

[spaceparallax] 03/2/2014 13:04

Mr P,

I really wouldn't worry - just look at the solid fundamentals and the ridiculous PER. From here, the only way is up up up.

[mrphil] 03/2/2014 12:09

Must admit I hadn't expected us to drop below 50p, now getting a bit concerned as well as fed up!

[bigfrocks] 30/1/2014 18:47

Possible target imo, dyor

[boffster] 30/1/2014 17:11

Getting a bit sick of this death by a thousand cuts!

Any opinions as to FIFs suitability as a takeover target? Given much reduced debt and miserly P/E.

[spaceparallax] 28/1/2014 14:03

Yes, clearly Ruffer see a bright future here along with most on this thread. Interesting to find out who's disposing of so many that it's overridden the Ruffer increase - or is it just MMs playing tricks?

[woodcutter] 27/1/2014 17:07

well after the recent falls thought i'd have a look at buying back in. Nice to see many familiar posters still here. Will browse back through the recent post history and have a review of the TS before committing. Ruffer upping there stake by a further 100K+ shares.

As usual will post if i buy.

Woody

[boffster] 27/1/2014 16:33

It was really the grimmest way of saying we're expecting higher profits this year and benefits of investment coming through the year after! :o)