Brightside Group Share Discussion Threads

[this_is_me] 20/1/2014 16:51

A tick up was a nice way to start the week.

[this_is_me] 16/1/2014 09:11

The share price seems stuck at its current level.

[this_is_me] 06/1/2014 08:00

We should see improvement over the course of this year.

[this_is_me] 30/12/2013 08:44

Trading has more or less come to a stop during the holiday period.

[this_is_me] 18/12/2013 13:27

Share price showing some recovery.

[weaverbeever] 17/12/2013 21:51

im new to his forum. When does new CEO join? shares mag gave a good write up on him. would he not be able to sort out the kinds of things being spoken about here?

[danieldruff2] 17/12/2013 19:51

I'm surprised nobody has mentioned the Edison note of yesterday. It's broadly positive but also predicts net debt of 32 million suggesting that Brightside will therefore need use of bank facility plus overdraft facility, and they throw a question mark over their dividend prediction. Worth a read.

www.edisoninvestmentresearch.com/research/company/brightside-group

[trytotakeiteasy] 17/12/2013 19:46

Directors cost £1.3m in 2012 with highest paid getting £270,000
In 2011 Directors cost £1m.. with highest paid £360,000
In 2010 directors cost £0.8m with highest paid £253,000

So bill for directors up by over half over two years... meanwhile company's share price at a new low...

Usual mismatch if you ask me.... and options recently re-done at a lower price...

Also chuck in the related party stuff and doesn't look good in my view....

[redparrot] 17/12/2013 15:05

there is a price for everything....
Wonder where you have read "huge pay for top management" ?
So far, nothing was mentionned in the last annual report regarding the pay and bonuses of top management
Is cash flowing out of the company ? If so , I would be even more stressed...

[trytotakeiteasy] 17/12/2013 13:07

to improve morale among management they need to re-price options again.. double salaries and have more related party transactions...

Recent incidents have shown the true colours of Brightside's management and business model.... On that basis it is a stock to avoid forever in my view... thousands of companies out there to invest in ... why invest in something like this?

[boonkoh] 16/12/2013 23:00

What a shambles regarding underwriting capacities. Surely can't be that hard to secure more? Essentially going to the market offering more business!!

[woodcutter] 16/12/2013 10:20

I too bought in very early in 2013 and sold out pretty quickly due to management discloation ref post 207. Took another look this morning, only briefly, based on the fall. No plans to invest at present too much uncertainty, but watching with interest.

Management reminds me in some respects of CRE.

WC

[masurenguy] 16/12/2013 09:17

I wonder how Markerstudy are viewing this shambles. They originally acquired 11m shares back in February at circa 22p and they subsequently made an indicative offer for the business at 27p during the summer and then a reduced offer of 22p in the autumn which Brightside rejected. At the shareprice - now 17p - they're sitting on a paper loss of circa £2.5m and as one of the main underwriters they still have leverage here.

[trytotakeiteasy] 16/12/2013 08:43

trouble is this company just seems "dodgy".. re-pricing options.. previous CEO selling shares and not notifying market...related party transactions going on forever.... huge pay for top management... poor market disclosure generally...

I am sure Brightside will do the only thing they know best...

Re-price all the director share options again... because if you have messed up you should still get fat salaries and options that will be worth something

[che7win] 16/12/2013 08:37

I'm surprised they don't attribute anything to softening insurance rates, that's what kept me out from summer.

[masurenguy] 16/12/2013 08:31

Another profit warning following the interim warning 3 months ago. This time it is a 20% shortfall following the departure of Holman as CEO. The shareprice is now at an all time low of of 15p and the market cap is under £70m. It will be interesting to see the company's response to this catastrophic fall in the share price - down by 46% over the past 5 months - especially after noting the following comment in their September H1 report, when the shareprice was 33% higher than it is today

"The Company has in place shareholder approval to buy back up to 10% of its current issued share capital. The Board has no current intention to utilise this authority however it will consider supporting the price of its ordinary shares if they believe they are undervalued."

Unless the company activates this buyback facility then we can assume that the directors do not consider todays price to be undervalued. If that turns out to be the case why would anyone else take that view too !

Happy to have exited at 26.2p in August and to be sitting on the sidelines at the moment.

[this_is_me] 16/12/2013 07:25

That is better news for next year but not good news for this year.

[this_is_me] 11/12/2013 08:27

Somewhat disappointing to be nursing a small loss here.

[this_is_me] 04/12/2013 16:16

It was nice to get the dividend into the bank this morning.

[trytotakeiteasy] 02/12/2013 10:37

I wonder if the last guy was forced out as he said he was going to sort out related party (conflicts of interest) issues and so forth.... Brightside just seems a way for management to take out money for themselves and make none for investors...

[capt bligh] 28/11/2013 16:15

I think his is pretty good news for BRT today... a very muted response pricewise so far...

[davidosh] 21/11/2013 21:58

These guys seem keener on sorting out their options than getting best value for shareholders out of this debacle !

[trytotakeiteasy] 21/11/2013 19:53

No I think Brightside are right.. if you have messed up the takeover, underwriting capacity, investor relations, issued a profits warning, changed CEO twice in two years (current guy is on way out), the important things is:

Re-price share options lower...that is the right response to this kind of issue..

[0rb1t] 21/11/2013 13:12

No news of any additional underwriting capacity and now they are giving employees shares for free just to stay.

[this_is_me] 11/11/2013 11:03

Rapid growth has produced problems and selling by founders didn't help the share price. Lack of increases in capacity have stunted growth, but a focus of providing profitable sales for insurance companies will see the company prosper.