Blancco Technology Share Discussion Threads

[strange1] 13/9/2017 00:26

When the company paid research withdraw their numbers, then it really is time to be worried!

[cerrito] 12/9/2017 10:41

Edison have just released something following the Sept 4 announcement..rather late in the day saying logically thee are withdrawing their FY18/19 estimates until they get greater clarity following the Oct 3 results release.

[cerrito] 07/9/2017 12:14

The pollyanna in me says good news that Woodward is staying as he feels more comfortable with the situation now that Clawson has gone and that the situation will be less of a headache for him; the cynic says that at stockscanner says no one else wanted to be chairman. The market albeit on low volume so far does not seem impressed.
Be interesting to see if yesterday’s 943k and Monday’s 746k volume prompts a RNS

[stockscanner] 05/9/2017 10:13

Word on the street is that they are struggling to find a new Chairman for this due to the corporate governance issues around the Company. Also that the previous CFO Keith Butcher walked because of those corporate governance issues, the lack of cash after the share buy back and the accounting practices that he inherited and wouldn’t put his name to. Thats what’s all been coming out over the last few months and why the CEO has now gone. Every statement the Board makes is retracted a few weeks later. They will be lucky not to get sued. Hopefully a new Chairman and CEO will start to rebuild some trust as this is a total shambles at the moment.

[eagle eye] 04/9/2017 17:32

Cerrito,
Looks like Simon Herrick has a good opportunity to prove himself.
Trying to squeeze suppliers isn't politically correct but I don't have an issue with an FD being tight with cash.
Lots of uncertainty here, but at 72p-76p much of that is reflected in the price.

[cerrito] 04/9/2017 15:21

Thanks eagle eye..often wondered how BLTG had got a man with this experience and not clear what he has been doing in the last three years.
The British part of me regrets buying more without doing more homework and saying the fellow is forever damned as is the thinking here in the UK...let's hope that the alternative interpretation that he has learnt the lessons from the past and is doubly keen to bolster his reputation is correct.

[eagle eye] 04/9/2017 14:10

Simon Herrick left Debenhams in January 2014.
The Mail published an article on his departure at the time.

www.thisismoney.co.uk/money/markets/article-2532518/Debenhams-ousts-Simon-Herrick-Santa-tax-row-profits-alert.html' target='window'>http://www.thisismoney.co.uk/money/markets/article-2532518/Debenhams-ousts-Simon-Herrick-Santa-tax-row-profits-alert.html

[pj 1] 04/9/2017 13:40

Well good luck. I think your insane to keep averaging down. Wait for the kitchen sink to be thrown out in a few months by a new CEO. And even then I don't think it would be for me.

[chasbas] 04/9/2017 13:33

Old Mutual have come out of nowhere to own 5.85% on 3rd Aug. Other major shareholders largely unchanged.

[cerrito] 04/9/2017 13:07

I bought a few more this morning and rather agree with you eagle eye and this is a clean out of the old management.
The question is how good is Simon Herrick...as I have never looked at Northern Foods or Debenhams I have no idea about him and be interesting to see how he performs at the AGM and indeed who they bring in as either CEO or COO and indeed who becomes Chairman.

[kemche] 04/9/2017 09:24

"with the shareprice falling by 75% over the past 6 months".

Mas, I suspect more of the same to follow.

[masurenguy] 04/9/2017 09:20

Re #462: And an even worse taste for those institutions who participated in the tender offer at 240p in May last year. The incumbent CEO & CFO sold their shares into that fund raising and subsequently departed. Very glad that I also sold my shares @235p at that time and exited altogether as this year has been an ongoing disaster with the shareprice falling by 75% over the past 6 months.

[eagle eye] 04/9/2017 09:15

The Auditor is rightfully getting picky over full-year figures.
Clawson now gone. Nobody wishes to be associated with old management and new directors will want to start with a clean sheet.
All fairly predictable IMHO.

[its the oxman] 04/9/2017 08:47

Past placing at 169p will be leaving a very nasty taste for some fund managers. What's news next

[runwaypaul] 04/9/2017 08:09

that's why averaging down is regarded as a no no.

[arc en ciel] 17/8/2017 11:33

On the understanding (am I being over-confident here?) that the cash-flow blow was a one-off and the turnaround is now firmly under way, I averaged down today at 107.7p.

Maybe the worm could turn decisively with the results in early October. If so, I now need the share price to rise to 172p for me to be breaking even.

[nw99] 16/8/2017 13:21

Bought here like the turnaround

[moneytree1] 16/8/2017 10:34

had second thoughts and exited at breakeven atb

[ilovefrogs] 04/8/2017 15:10

Agreed. Patience young man...!!

[chasbas] 04/8/2017 14:53

Wouldn't it be great to have a bit of positive newsflow ahead of results on 3rd Oct results? Not very enjoyable holding this stock.

[ilovefrogs] 25/7/2017 13:47

All true, yet for me, all in the price already. We'll see what happens, but one sniff of good news here, and one can expect a very sharp bounce.

[varies] 25/7/2017 13:30

strange1
Very succinctly put !

[strange1] 25/7/2017 12:43

The only market they appear to have cornered is not getting paid. Good margins without cash flow is worthless.

[varies] 24/7/2017 10:41

Cerrito
It would indeed be interesting to know who sold these shares and who bought them
So far over 300,000 have changed hands this morning.
(Morningstar gives a figure of c175,000 for the 90 day average daily volume.)

The excess of current liabilities over current assets is worrying and so is the recent exodus of directors.
On the other hand the volume of sales and the profit margins are impressive, if we can believe them, and Blancco does seem to have cornered an important market.
I was going to buy a few more shares today but will wait to see whether those sold on Friday have found a good home.