600 Share Discussion Threads

[baner] 06/6/2023 10:11

interesting idea, MRF!!! good thinking.

[my retirement fund] 03/6/2023 16:08

Yes the old big chief of CMS who sold to 600. He could not only buy back his own business but the rest of 600 group for less than they paid for his entire business, no ?

[laser8] 27/5/2023 00:58

Which founder would buy it back? Meaning either the ex owner of Tykma or Control Micro? And is that feasible, as it's listed in the UK. Is it possible for this to happen, to delist it and take it private in the USA?

[my retirement fund] 26/5/2023 20:10

It wont be long before the founder of the business will be able to buy the entire company lock stock and barrel for considerable less than what SIXH paid for them in the first place. Nice one SIXH, way to go. I always had this company down as just another stock exchange listed dodgy outfit with a cess pit of poor senior managers from way back in the day when they were advertising in Letchworth and I was looking for a job in electronics and I was based in Hitchin and they ignored my offer to work for them. Probably a bullet dodged and I certainly have made a fortune since running my own businesses and now retired. So congratulations to the top brass, are you all happy you have destroyed shareholder value over the years whilst lining your own pockets for your sheer and utter incompetence ? Will you be handing back any of your salary, bonuses or accrued pension ?

[brucethegoldfish] 26/5/2023 18:38

You won’t find out reasons for Neil’s departure imo as both parties will likely be subject to a compromise agreement given the bluntness of the announcement.

At these levels though the attraction of a US predator becomes increasingly plausible.

[laser8] 26/5/2023 18:21

Is there any info out there that mentions or eludes to any "woke " behavior? I haven't heard or seen anything. This is new to me and might help explain what happened to Neil. I'd really like to get to the bottom of what's going on and why Neil suddenly left. At this point I might as well ride this to the bottom. The loss I'll incur if I sell now.... Anyways

[pugugly] 26/5/2023 16:19

varies:- It was the American laser businesses that attracted my attention but the abrupt rns " Neil Carrick, Chief Financial Officer, has ceased to be a director and company secretary and has left the Group with immediate effect." is as you say unsettling.

He appeared to have rectified many of the historical problems but the wording is very similar to those where dangerous bombs have been unearthed.

If however it proves to be a result of some "Wokish" or politically incorrect actions then the Board should have their backsides kicked.

[varies] 26/5/2023 15:19

Pugugly
Although I recently sold 3/4 of my holding at 8.5p, incurring a loss of over 40%, I see the shares as cheap if a plausible explanation can be provided for the recent abrupt departure of the financial director.
There is a reasonable chance of the 2 American laser businesses producing decent profits once the cut-price contracts are completed.
I am not brave enough to buy my shares back yet and expect that, if I did, the market maker's turn would absorb most of the difference between the price of my recent sales and the price indicated now.

[pugugly] 26/5/2023 14:34

200K shares dumped at 6.3p - Probably now uninvestable. Contrary views anyone?

[varies] 24/5/2023 13:02

KoR Wraith
I have suffered a very similar experience in SIXH shares over the years and condole with you.
The recent abrupt departure of the financial director was too much for my nerves and I sold most of my shares at about 8.5p having paid, I suppose, an average of 15p for them.
If some explanation were to be offered for this departure and a successor appointed, I would consider buying back in.

[chrisdgb] 24/5/2023 12:15

Has been on my watch list, not sure about this trading update...?

[kor_wraith] 05/5/2023 09:49

Having been very bullish a year ago I've now (again) lost faith in management and sold out. The value of their assets and potential for business performance means very little if management aren't on the ball.

This company should theoretically be a big beneficiary of the onshoring activity taking place in the US but the unexpected exit of a CFO rarely precedes positive news. Every call I've made in the last 10 years on this share has been wrong so continued holders may well benefit from my exit :-)

[tanzania100] 04/5/2023 17:24

An FD does not leave immediately , without an orderly handover , unless there is something drastically wrong . With his performance/ conduct , or with the Company.

[laser8] 04/5/2023 16:55

Their trend has been much later than others in the same sector. Combine this with the CFO taking a quick unexpected departure, I can only anticipate an untimely delay. And for me that matters and speaks to the health of the company. But again I'm not as seasoned as the rest on here.

[varies] 04/5/2023 14:54

laser8 and Pejaten
Why do you say that the year-end results are late ?
The results for the 6 months to 30 Sep 2022 were announced on 22 December.
The latest full year for SIXH ended on 31 March 2023 and this is only 5 weeks ago.
Have I missed something ?

[pejaten] 04/5/2023 14:28

Year end report is always late!

[laser8] 04/5/2023 14:12

I guess the year end report will probably be really late now.... One has to wonder what is going on. At this point I'll ride it out to the bottom, and then buy back based on their actions to right the ship.

[tanzania100] 04/5/2023 10:12

Agreed. And the share price is marked up ! The Company needs to explain the reasons . Quickly.

[varies] 04/5/2023 09:44

This announcement of Mr Neil Carrick's departure could not be more abrupt.
He was Financial director from 2011 until November 2020 when he was replaced by Mr Rui Lopez.
It was announced a few months ago that NC would return as CFO with effect from 1 Jan 2023 and the Chairman thanked RL for his contribution.
Now NC resigns as CFO after only 4 months and also as a director and the company secretary and leaves the group.

[baner] 21/4/2023 08:44

Laser8

5 months is long, but still within regulations. It should not take more than maybe 2-3 months but here we go…….

[laser8] 11/4/2023 19:08

Ok, I'm a bit of a newbie.. is it common for a publicly traded company in the UK to take 5 months to release their year end reporting?

[pldazzle] 10/4/2023 23:55

Y/E is 31 March - last year the final results didn't come out until September....

[laser8] 10/4/2023 22:27

Any news or updates on sixh? Waiting for the year end report....

[varies] 27/12/2022 12:00

For the reasons given Inventories and Receivables are high.
if these can be reduced in the next 12 months, we should be making decent profits and have an attractive balance sheet.
The risk/reward ratio here strikes me as attractive but it often has in the past and I am well down on my holding.