Solid State Share Discussion Threads

[cockerhoop] 30/10/2015 08:28

Redartbmud,

At least they said they were! :-) There are numerous examples of directors being economical with the truth (or worse).

[redartbmud] 30/10/2015 08:28

Astur

Brave. If the MOJ contract aborts it will be a major blow for the company. Even at current levels it is overpriced.

red

[asturius101] 30/10/2015 08:18

Have added a few k worth - def oversold at these lvls

[cockerhoop] 30/10/2015 08:02

Dasv,

It's surely inconceivable that that the Chairman wasn't of aware issues with the contract when in July it was widely reported on Radio 4 news, the Guardian and the Mail.

I also asked questions regarding why the original awardee of the contract pulled out - citing impossible to work with MoJ as reason. Looking smart move by them now.

[redartbmud] 30/10/2015 07:52

dasv

Wise decision to sell. Most of the eggs were in one basket, with a very fragile bottom that has now broken.
The signs were there, we should have read them.

red

[dasv] 30/10/2015 07:26

I posted back in July - the chairman sold down to 0.1% of the co. I thought that looked suspicious and tied in with the negative media coverage on the key contract I bailed. Did the chairman act on inside knowledge?

[glasshalfull] 29/10/2015 18:13

Disappointing update today. Also this occurred against a backdrop of ex-Directors & founders selling stock not so long ago. Personally I'll stick with my holding but fully understand others frustrations & they'll certainly have their work cut out to reassure the market.

WH Ireland have reduced 56p EPS forecast to 36p for the current year & withdrawn 2017 figures until they've better visibility.

They indicate,

"For the current year to March 2016, we have reduced our forecasts as follows: revenue £44.0m (from £57.0m), WHI PBT £3.2m (from £5.3m) and WHI EPS 36.0p (from 56.0p).

We have also assumed a same again dividend of 12.0p (was 20.0p). Given a material uncertainty of when deliveries to the major customer will resume, we have withdrawn our FY17 numbers with immediate effect. We have put our recommendation and target price Under Review with immediate effect (was Market Perform, 910p price target) and will seek to reintroduce when greater clarity emerges."

Kind regards,
GHF

[hydrus] 29/10/2015 14:42

Red makes a good point that actually trajectory is hard to assess until results come out. However it is clear this not just due to the large contract. It's also due to due to 'general market softening'Personally, I don't understand why this statement was released mid afternoon. It's all a bit odd, what with the Chairman sales and fact that first half of year is behind last year - that isn't to do with the variation in contract as that was only informed to the company this week.

[davidbirkett] 29/10/2015 14:32

Massive overeaction . The markets are so vulnerable to short term panic at the moment we saw this with Alumasc last week. Great time to buy ir you have the Kohonas

[theprovosts] 29/10/2015 14:28

Not letting anyone buy for the last 30mins... MM's are nubs

[redartbmud] 29/10/2015 14:21

Solid are making some changes to management. The current FD is standing down to become a NED and they are employing from outside. Sombody far more appropriate for the needs of the business. It is a well overdue move.
MOJ contract is very complex, there are three other partners, on which the success of the contract depends. Still very much wip, but if successful could be rolled out into other countries.
The link with Rsw is excellent. Rsw is very high tech and quality orientated. They would not employ a second rate supplier.

The next set of results should set the tone for growth.
I have a small position, but bought at the wrong price, when the Sp had run ahead of events. I am not selling, or adding for now.

red

[hydrus] 29/10/2015 13:59

Broker estimates were for 56p this year, way ahead of last years 35p. As currently profits are behind same period last year perhaps there is a need to assume overall similar or possibly lower results than last year? If so this is on a PE ratio of 17 or so. That still feels quite high to me.

[cockerhoop] 29/10/2015 13:48

I don't think there was ever any doubt that the project was delayed - a prison minister wouldn't admit it unless true. What was unclear was the effect on SOLI.

[hydrus] 29/10/2015 13:24

I guess the Director sales and publicity about the contract were valid warnings here after all

[cockerhoop] 21/7/2015 12:59

Glaws, To be accurate it was the Guardian along with the BBC and the Mailonline reporting on a parliamentary answer from the Prisons minister Peter Selous.As I said earlier I'm new to SOLI and only stumbled across the articles when initially researching the company so I'm probably still behind the curve here but does anyone know the circumstances behind the company Buddi turning down the original MoJ Gps tagging contract? MoJ do not appear easy to work with.

[glaws2] 21/7/2015 12:40

A pleasing recovery in the shareprice - back to where we were before the Guardian article and founder/director sales.

[skyracer] 20/7/2015 11:45

Thanks for sharing the Walbrook reply with us Glaws2.

[hydrus] 19/7/2015 15:13

But the current chairman just sold about 90% of his shares at below market price. Why would he do that? Doesn't exactly build confidence, selling such a large amount of his share holding when there are some indications of possible issues with a contract they are involved in.

[glasshalfull] 19/7/2015 13:49

Update from an investor that spoke with management & attended a SOLI presentation 10-days ago.



I concur with the sentiment & observations of this post, it appears to be a rehash of old news.
The management team have delivered in spades during recent years & I believe worthy of our backing.

Regards,
GHF

[hydrus] 18/7/2015 09:31

Good point about the percentage Glaws and thank you for posting the reply from SOLI

[glaws2] 18/7/2015 09:25

Hydrus - I don't disagree - the MoJ contract clearly has scope for political decisions over-riding business ones. The chairman's reason for sale was laughable - it's less than 4% of the amount the founders let go the previous day.