Braemar Share Discussion Threads

[clarkey1880] 11/9/2023 18:35

Transaction may have been 3m but its the liability thats the issue no?

[grahamburn] 11/9/2023 14:07

The length of time the shares have been suspended does seem inexplicable for what appears to be a relatively small transaction (£3m) in 2013, albeit one that also affects the 4 subsequent years. Skimming the results from May 2013, nothing jumps out about that "transaction", save for references to amortisation for a number of small previous transactions.

One concern is beginning to prey on my thinking - the longer this goes on, the likelihood of complex ramifications on all subsequent accounts especially regarding the balance sheet, may well extend to the legality of dividend payments etc.

Any views from experts in accountancy and company law out there?

[clarkey1880] 08/9/2023 18:38

Correct me if i’m wrong but didn’t they have these same accountancy sign off issues last year?

What i find honestly astonishing is the lack of contact from the board.

And what is maybe worse, is that the BOD were quite clearly revving up their corporate brokers with loads of fantastic press releases, encouraging everyone to buy, surely in the full knowledge that this was going to occur… leading “lambs” to slaughter?

[cwa1] 07/9/2023 16:16

This seems an incredible length of time to sort out something that, on the face of it, seems relatively trivial and ancient history to boot. I really hope that further skeletons have not come loose in the cupboard shake. It really is about time the BOD gave us shareholders an update.

We had an update at the end of August last year on trading progress, is there anything stopping them from updating us about this year's current progress?

[clarkey1880] 04/9/2023 17:35

The major shareholders should call for resignations from, the ceo, the chair and coo. These people are not fit to run this organisation.

[mayojames] 03/9/2023 18:51

There is an arrogance in the CEO and the Chairman with no interest in the shareholders only hope the major ones are looking after us and themselves as cannot believe someone like Hargreaves Lansdowne out in the cold

[alfred] 03/9/2023 18:21

If the company didn't have such contempt for its shareholders they'd issue some sort of interim explanation. Even if there's no disastrous outcome from this suspension the company has severely damaged its reputation with their head in the sand attitude.

[seawitch] 03/9/2023 16:55

MarketScreener.com, le spécialiste de la Bourse
Braemar Plc(LSE:BMS) dropped from FTSE All-Share Index
September 01, 2023 at 12:00 am

[seawitch] 03/9/2023 16:38

BMS SHARE NEWS TODAY29 Aug 2023 18:59
Braemar PLC - London-based shipbroker and advisor in shipping investment - FTSE Russell says company has been suspended for a further 20 business days effective from Friday.
Suspension extended to @ 28th Sept.?

[hpcg] 31/8/2023 15:48

Mystericon - whilst the shares are suspended it is irrelevant. With no action to take there is no point worrying.

[mystericon] 30/8/2023 18:27

The longer the shares remained untradeable the more grounds there are for legitimate concerns among ordinary shareholders that there might be something more seriously amiss. The initial suspension, as many said at the time, seemed drastic for what it was claimed was just a relatively small historical issue of limited potential impact on the company overall. And as the months pass without reinstatement or even any progress reports to try to maintain investor confidence the credibility of the original noticeably vague statement only reduces still further.

[deanowls] 30/8/2023 11:37

The exposure was 3m from over 6 years ago. I’m no auditor or account but surely this could be put as a note that previous years accounts could be restated and make a necessary adjustment?

[alfred] 30/8/2023 10:42

Must be an almighty mess to take this long to sort out. Can't wait to hear all the platitudes, excuses, regrets, blame shifting, resignations.

[cwa1] 30/8/2023 10:08

Indeed, it's very frustrating

[deanowls] 30/8/2023 09:50

Maybe they’ll be back to work next week and look at what’s on the agenda.

Farcical that there hasn’t been an update after so long.

[hpcg] 16/8/2023 07:41

14.3% votes against. Personally I voted to retain them. I welcome an auditor that actually investigates anomalies. I would change my mind if it turns out to have been a work creation scheme.

[alfred] 15/8/2023 16:35

Are the auditors {BDO Binder Hamlyn) behind this farce? if they are they'll need a very good explanation to avoid being fired.

[hpcg] 15/8/2023 13:46

I can only presume because it was so long ago that they have to restate a number of results. That said August is one of the worst times of the year to get anything done.

[drectly] 15/8/2023 13:27

What ever the issue is, it is hard to understand why a few people with at least basic ability could not have sorted this by now. it is what it is, they do not have to go back in time and change things, just state the facts and publish the figures.

[deanowls] 15/8/2023 13:11

Another month on and a strange statement from the AGM where they don’t recognize some votes because they haven’t spoken with the company. If this was such a small issue why is it taking so long?

[cwa1] 01/8/2023 13:42

Appointment of Group Chief Financial Officer

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to confirm further to the Company's announcement of 20 June 2023 that Grant Foley has been appointed as Group Chief Financial Officer with effect from today.

[cwa1] 31/7/2023 13:39

Anyone prepared to take a wild guess at how long this might take to resolve? Days? Weeks? Months? Longer(surely not!!)?

[deanowls] 17/7/2023 16:30

Really summat 10 years ago and it still can’t be sorted.

Tosh

[cwa1] 17/7/2023 15:00

The AGM will be held at 10:00 a.m. on Wednesday, 9 August 2023 at the offices of the Company at One Strand, Trafalgar Square, London, WC2N 5HR. The AGM notice will be available on the Company's website (www.braemar.com) and, together with the form of proxy for the AGM, will be submitted to the National Storage Mechanism and will shortly be available for inspection at: Copies of these documents have also been posted today to shareholders that have elected to continue to receive hard copies.

As detailed in an announcement on 26 June 2023, due to an ongoing investigation into a historic transaction originating in 2013, the Company has not yet published the financial results for the year ended 28 February 2023. As a result, the Company has been unable to publish the 2023 annual report and accounts together with the notice of AGM. Given that the Company is required to hold an AGM each year within six months of its financial year end, the Company's 2023 AGM will be held on 9 August 2023, however, it is expected that this meeting will only deal with the resolutions that do not relate to the 2023 annual report and accounts. An adjourned AGM will then be reconvened at such date and time as will be notified to shareholders as soon as possible once the Company's 2023 annual report and accounts are made available.

[alfred] 12/7/2023 06:57

Binder Hamlyn/BMS management, is this really the best you can do?