Appreciate Share Discussion Threads

[velocytongo] 04/8/2022 20:48

i agree. seemed to be justifying the massive amounts spent on IT

[powerp2] 04/8/2022 16:44

Just listened to Mark Thomas analyst from Hardmans discuss APP. It was ok but no great insights. I thought his comment on NED and Chairman share purchases as a confidence stance given CEOs abrupt departure ( on which he had nothing to say) was over egged. Yes it's always good to see them out their own money in but volumes pretty low 36000 chairman and 20000 NED. I'd like to see the times these numbers bought with their own money. That would be a better statement.

[powerp2] 27/7/2022 17:33

Lot of free share options granted today to management - they'd better be good and deliver

[powerp2] 26/7/2022 16:34

I'm impressed that the new Chairman has moved so quickly. I do hope he doesn't use this as an opportunity to make useful ( for him) provisions and write investments aggressively down. We would lose another 12 months. My instinct is that he won't and if true again to his credit.
The old CEO and Chairwoman have cost us two years of time and millions of pounds. The Valley Rd sale shortfall alone will be a few million or so!
I'm so annoyed all this was allowed to happen.

[velocytongo] 25/7/2022 20:32

The chairwoman was a lawyer with little commercial experience but appeared to be well plugged into the Wirral biz scene. Topvest pretty well sums up the CEO.

£ 12-month LIBOR is 3.9% and has been creeping up. USD 12 month LIBOR is about the same. The BoE will have to raise rates to prevent importing further inflation. 7 months ago £1 bought $1.40 and it now buys $1.19. And I suspect £ will fall further if Idiot Truss is appointed.

VT

[topvest] 23/7/2022 19:17

Because he was uninspiring, was paid way too much, spent £xm on technology without much benefit and didn't deliver shareholder value!

[powerp2] 19/7/2022 16:04

Anyone heard anything about why and where O'Docherty s going?

[powerp2] 15/7/2022 11:01

Great to see chairman and a non exec buying! Are we about to see some life, drive and direction about to be instilled at long last?!?!

[andre] 15/7/2022 07:17

The non-execs are buying. Not huge value but they still know more than we do. Imho.

[powerp2] 14/7/2022 18:07

Good shape
Easy money
I hate predictive text!

[powerp2] 14/7/2022 17:59

I think the Chairman has pushed the CEO out.
Seeing him full-time in action and talking to other executives would highlight his deficiencies. The last Chairwoman must've been blind or stupid or both. The non execs should have their cards marked.
I hope there is a new bit shot CEO lined up as we've lost a good few years progress under this Muppet ( plus many millions wasted)
I will be very unhappy if the new Chairman used this as an opportunity to write this be off and make provisions which is often what happens at this point. Several to endure far too much of this a!ready.
I wonder if CFO would've still resigned if he had seen this coming. Losing both at the same time is traditionally a bad sign but Chairman has said the business is in good sheep hopefully we're ok.
The new investor saw the big cash escrow account amount at the start of a period of increasing interest rates = easy no e.g. = no brainer particularly if it grows as well and then possibly gets rerated!

[cfro] 14/7/2022 13:22

Rockwood dont need a sizable holding to force change, they are simply an activist shareholder who encourage change through engagement with management once they come onboard as a shareholder.

They would have asked the CEO to leave, simple as that. Isnt it a funny coincidence they appear on the shareholder register, then change happens? No way the Chairman pushed him out imo not without their support anyway.

(For anyone not familiar with Christopher Mills and Rockwood and what they do, i suggest some homework needed).

[andre] 14/7/2022 13:15

I agree. This is really good news. I expect it to come back. It's just that the market is so bad right now that anything that could be interpreted negatively, is. C'est La vie.

[velocytongo] 14/7/2022 11:06

The shares should have jumped on this news! If I didn't have so many, I'd buy more. The share price will still be depressed as the co has no ceo or cfo, which the market does not like (check out dignity!).

Mills did allude to an activist shareholder.

[topvest] 14/7/2022 09:34

Great news. We all suspected that the CEO was sub-par and didn't have the necessary skills to grow the technology platform. He also spent far too much money. The new Chairman seems to be much much better and its a bonus that he is going to act as CEO on an interim basis.
Not sure why the share price has declined as this is what everyone hoped for!
I suspect Rockwood haven't got the holding for such a change. Its probably the Chairman is behind this and I'm sure he has the support of shareholders.

[cfro] 14/7/2022 07:21

CEO been pushed out by the new shareholder Rockwood i wonder?

[petrencf] 14/7/2022 07:15

Powerp2,your prayers have been heard. CEO has gone.

[r9505571] 09/7/2022 21:29

APPShare Price 7 Day 1 Year0.29 -4.0% -7.1% Consensus forecasts updatedThe consensus outlook for 2023 has been updated.2023 revenue forecast fell from UK£265.5m to UK£211.9m.EPS estimate reaffirmed at UK£0.04.Net income forecast to grow 82% next year vs 45% growth forecast for Consumer Finance industry in the United Kingdom.Consensus price target of UK£0.61 unchanged from last update.Share price fell 4.0% to UK£0.29 over the past week.

[r9505571] 06/7/2022 06:56

Consensus forecasts updatedThe consensus outlook for 2023 has been updated.2023 revenue forecast increased from UK£106.9m to UK£265.5m.EPS estimate unchanged from UK£0.04 at last update.Consumer Finance industry in the United Kingdom expected to see average net income growth of 39% next year.Consensus price target broadly unchanged at UK£0.61.Share price was steady at UK£0.28 over the past week.

[r9505571] 29/6/2022 18:00

Appreciate Group plc Recommends A Final Dividend, Payable on 3 October 2022The Board of Appreciate Group plc has recommended a final dividend of 1.2 pence, making a full dividend for the year of 1.8 pence per share (FY21: 1.0 pence). The dividend will be payable on 3 October 2022 to shareholders on the register on 26 August 2022, subject to shareholder approval.

[topvest] 29/6/2022 16:16

It's interesting that the results didn't mention anything about interest income. Given that's about their best USP its strange that it wasn't mentioned as the CEO normally paints everything in a positive light. It could well be a material tailwind this year - maybe they are holding it back so that it can bail them out of any potential trading under-achievement...blimey, that's a bit cynical!

I don't agree on the ERP system. So many companies fall for the ERP consultant sales pitch about what fantastic value a new system will provide and that they cannot possibly operate with a system that is old and costs £0. £5-10m later the new ERP system hasn't really added any value other than to the ERP vendor...seen it so many times before!

It was so good, they have had to spend another £1.8m on some better IT to get them 18m forward. ERP system doesn't really cut the mustard then!

Anyway, its water under the bridge and things do look a tad more positive. If Christopher Mills is sniffing around that's good enough for me!

[velocytongo] 29/6/2022 12:57

I listened to that, too, Top but they really had no option due to years of tech underspend by the previous management. It was literally about to fall over the shoestring it had been run on.

The issue is the execution of the ERP and whether it could have been done better. It was originally going to cost about £5m. No idea how much they have spent but I'd guess it's a lot more. Good to hear that the new Chairman is endorsed by Mills, which means the CEO will stop talking about the soft targets like coming into the office on time.

This business should do well right now if management can execute. There's plenty of demand for loyalty schemes for staff and hard times should help recruit more agents for the xmas savings business.

1 year LIBOR is about 3.5%. Multiply that by £200m and you have an extra £7m dropping through to the bottom line and all with a few clicks of the mouse.

This is one of our largest holdings and for the last year I was wondering if was worth the wait but with 8% DY it defo is.

Vtongo

[topvest] 28/6/2022 21:37

At least they will start making some money on the cash float soon!

Christopher Mills likes the new Chairman; that's a real positive. We need a decent new CFO as the previous one messed a few things up. Once we have a new CFO it will be interesting to see if the CEO lasts. Christopher Mills made a reference to not being convinced that the new ERP system was money well spent. I think we all know it hasn't really delivered and cost too much but that is now water under the bridge.

If Christopher Mills is hovering then there is value. He is the master! It sounds like Harwood are struggling to pick up a sizeable holding.