Record Share Discussion Threads

[142minty] 27/3/2012 11:56

the 9.6m shares traded was a buy at 11.4p. the biggest ever single buy i have ever seen in Record adn we have the Results coming out ina couple of days . Could be interesting

[hugepants] 27/3/2012 10:34

Hopefully that's the seller cleared! Still think this is crazily undervalued.

[chrisdgb] 27/3/2012 10:14

Should be a holdings announcement at some point, circa 4.3% of company..??

[chrisdgb] 27/3/2012 09:50

WOW, this could be the final volume clearing day......9.6m shares just printed....

[142minty] 16/3/2012 10:14

Interesting performance in the Alpha Plus fund.Hope this continues upwards and we may still start to see some new customers take up the product again

[hugepants] 16/3/2012 09:37

Looking fairly awful here again but I've bought a few more. You can buy well within the spread. I think the shares may drop below the key 10p level shortly.

[chrisdgb] 16/3/2012 08:29

Another quiet week, wonder if we will get any news next week..??

[pictureframe] 09/3/2012 14:07

What a chart lol

[davidosh] 08/3/2012 22:54

To be honest I have not seen either of those although aware that MCHL has been the subject of a number of failed attempts to take it over and suspect that on doing DD most lose interest ! What has been happening at both and is there anything that you can report to ShareSoc for investigation or maybe Do a write up on their blog ?

[contrarian2investor] 08/3/2012 19:29

davidosh, thanks those are refreshing and reflective posts. Talking of carnage have you seen what as been happening over at SYNC or MCHL?

[davidosh] 08/3/2012 14:37

HugePants...That is my point. The cash that you are basing your safety net on is dropping as it is also being used to pay dividends and prop up the company.

I have no doubt that when the share price was 30p and the cash was 14p the holders did not think it could fall to 10p !! Some have sold their shares today at 10.3p and 10.6p.

With bad results again it may fall lower. What is there to eventually prevent losses here if clients are all leaving. There has to be a fixed overhead level and with eps down at 1.3p forecast it does not leave much considering they made 4p last year.

At some point I would like to assist investors here as I have a real distaste for excessive remuneration. How long have you all been shareholders here and has anyone engaged with the directors as you seem to agree that the remuneration is not the right one for this climate and economy and stated that they are massively overpaid ?

They will not change unless YOU as shareholders act !!

Investors like me do not want to invest if we see excessive greed and a remuneration scheme rewarding long term failure ! The bonus should only be activated in full if profits increase and far less commission paid to staff if they cannot at least match the previous years sales. Look at the chart....it does not give confidence to investors !

[hugepants] 08/3/2012 14:17

I don't think anyone is arguing this has been a hopeless investment and the directors are massively overpaid given the share price carnage they have presided over. They should probably all resign.

However its going to be pretty difficult for the share price to drop any lower given the balance sheet and the fact the company is still making money. Your 6.5p forecast looks a bit ridiculous.

The directors salaries have fallen roughly in line with the decrease in profits. OK they are still stupidly high but at least the company is still profitable. Also the cash has dropped because its all been paid out in dividends.

[davidosh] 08/3/2012 13:31

HugePants stated...

Bottom line is REC have 9.7p per share net cash plus a further 1.8p of investments in their own funds. That compares with current 11p share price. The balance sheet puts a floor on the share price IMO.

For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%)


HugePants,

You seem to feel comfortable that all the key metrics are falling. I guess you invested much higher and think that the dividend is great whilst losing such huge chunks of capital ?

Lets look at the cash you mention from the last three results...

H1 to Sept 2010....£27.1m (interims)
H2 to March2011....£24.7m (finals)
H1 to Sept 2011....£19.6m (interims)
H2 to March2012.... ???

We will not know until June but those cash reserves are depleting rapidly so your 9.7p of cash that was 14p of cash in 2009 is not quite the floor that you suggest hence the share price is following it downwards !!

As for that dividend ! In the last finals the company paid out 4.6p in dividends but had only 4p of earnings. The missing 0.6p has to come from somewhere and it certainly did nothing to support the share price other than sucker a few more very temporarily into the company thinking it was a great income stock forgetting it is also the markets worst capital appreciation stock !!

The company and the brokers look like suggesting the same trick again next time with an uncovered dividend payment if you look carefully....

'For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%)'

Is there a charity covering these extra payments or is that another notch downward for the cash reserves ??

Last five years eps and projection are horrific reading

2008..12.6p
2009...8.7p
2010...5.4p
2011...4.0p
2012...1.9p (forecast)
2013...1.3p (forecast)

Earnings are halving every year so that is why the share price is collapsing.

Meanwhile check out the directors remuneration and tell me how many millions have been paid out in that same period and at what point they are going to spend their loose change and take it off the market at 5p.

There needs to be major changes here as I highlighted and the best start would be the headline figures and remuneration policy. If the company is currently trading on a multiple of 5x eps whilst forecast to do 1.9p then it will probably trade at 6.5p when 1.3p becomes reality.

Why did this company ever float in the first place ? Only 25% are held by outsiders and they have been mugged from day one. If these are so cheap now surely Schroders would buy every share available to add to their 6% but NO !

If you were getting paid a million a year whether the company improves earnings or collapses them then would you want change ??

[chrisdgb] 08/3/2012 12:53

Cheers HP, I couldn't have put it better myself...!!

[hugepants] 08/3/2012 12:47

It needs an increase in clients and revenues then hopefully a turn in profit allied with a change in remuneration policy before investors will look sensibly here for an investment IMO.

By the time all these have happened the share price is 50%-100% higher.

Bottom line is REC have 9.7p per share net cash plus a further 1.8p of investments in their own funds. That compares with current 11p share price. The balance sheet puts a floor on the share price IMO.



Forecast earnings for this year is 2p and forecast dividend of 1.5p.

For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%)

[davidosh] 08/3/2012 08:38

Chrisdgb....What positives are you expecting ? Sadly for the last four years everything has gone south ... Client numbers, revenues, profits, cash reserves and even dividends collapsing now! There needs to be a bottom or this share price will keep falling.
Anyone who invested four years ago has lost 93% of their capital. If they invested just a year ago they have lost 50% and in just the last three months 25% of investment value has eroded.
It needs an increase in clients and revenues then hopefully a turn in profit allied with a change in remuneration policy before investors will look sensibly here for an investment IMO.

[chrisdgb] 08/3/2012 08:15

Volume dried up yesterday....really need some positive news here..

[pictureframe] 06/3/2012 14:57

Blue - no mean feat in todays market

[pictureframe] 06/3/2012 11:19

The volume has been building for some time now

[hugepants] 05/3/2012 22:07

1 million trade at 11.3p. Maybe there's no more and this mutt can rocket back up to the 20p level.

[pictureframe] 02/3/2012 13:18

This is being walked all over the place !

[chrisdgb] 02/3/2012 09:31

Here we go again on the volume, order book looks good, 550- on the bid at 11 and only 50- on the offer at 11.25.....

[chrisdgb] 02/3/2012 08:58

WINS did the business again yesterday, trading both sides as they reflect over 2m traded..

[contrarian2investor] 01/3/2012 21:42

HugePants, "My guess is one of the larger shareholders has sold a chunk of shares to the MMs at 11p and they are happy to shift them at 11.5p-12.5p". That is a very good point and not one I had considered.

Do you think there could be any (however minor) read across from EMG's results today?

[142minty] 01/3/2012 18:04

big volume buyer at 11.5p - when this going to get marked up?