Calnex Solutions Share Discussion Threads

[redartbmud] 11/10/2023 10:51

So might I but regulators have notoriously poor vision.

red

[eagle eye] 11/10/2023 10:45

Well timed director sale six weeks ago.
Sold 110,000 @ 122.5p on 25th August 23 = £122,500
Current share price 56.5p
I would expect the regulator to be asking a few questions here.

[fuji99] 11/10/2023 10:39

This is what they said on 16 August:
"The Company's ability to source the components required for its products continues to improve and, whilst not yet resolved, the financial performance of the Company in FY24 is not expected to be impacted by procurement issues."
2 months later they changed their mind and now talking about possible growth in 2025. So if in between, they downgrade again, the share price could halve from here. The question now for any future statement is: Is it really reliable ? And when a company starts to through doubts in the air, I don't feel comfortable to invest in it. The competence of those who led to such situation must be questioned.

[redartbmud] 11/10/2023 10:35

Presumably they contacted their house broker who approved release of the RNS.

A futher question is when and how the results were competed if the CEO is absent from the office, if the out of office email reply is correct?

red

[garbetklb] 11/10/2023 09:38

I think the triggering event was Spirent's profits warning. But no excuse to put it out at 15.17

[owenski] 11/10/2023 09:36

I'd be asking questions about that rather well timed director's recent substantial sale..... It stinks.

[apad] 11/10/2023 08:56

...and so soon after an rns that emphasised 'caution' & 'cautious'.
Must have been a triggering event.
apad

[eeza] 11/10/2023 08:40

Obviously felt forced into it.

[redartbmud] 11/10/2023 08:34

Not the best time to put out an armageddon financial downgrade RNS with the CFO absent from the steering wheel.

red

[garbetklb] 11/10/2023 08:17

And I got a read receipt about half an hour later, so let's see what the response is.....
Clearly, my guess at her email address was correct, not so sure about Tommy's.
My email was v polite......

[garbetklb] 10/10/2023 19:34

Well, got an instant reply...... An out of office until 20th reply from Ashleigh!

[garbetklb] 10/10/2023 19:31

I've emailed Tommy Cook & Ashleigh Greenan (guessing at their email addresses)asking :
- Why did the announcement come out at 15.17, rather than 07.00
- Why didn't they include updated estimates as these were clearly available if a broker note appeared before 4pm
I'll let you know if there's a reply........

[johndoe23] 10/10/2023 17:58

Also the business development VP selling shares

[fozzie] 10/10/2023 17:51

The marker last Wednesday with Spirents profit warning, it was a direct read across.

[fuji99] 10/10/2023 16:42

Such catastrophic timing is a proof of panic to probably correct their recent update. This means the market and PI's will never believe any news coming out from them in the future until they see it in flesh and bones.

[jombaston] 10/10/2023 16:23

I can't believe their adviser's would have suggested such timing. Unbelievable. Either underhand, stupid or both

[fuji99] 10/10/2023 16:18

"revenues for FY24 will be in the region of 20-30 per cent below current market expectations, depending on the timing of orders." Dropped 30% as per revenues drop. Difficult to anticipate when the drop settles as their previous update was bullish. So there will be caution in getting in until after the results and even then 2025 is far away. Easy to see the share price back to 50p level i the next few months.

[johndoe23] 10/10/2023 16:17

Sly sneaking an update at 1517

[hastings] 10/10/2023 16:16

It was flagged via Spirent's recent news.

[rp19] 10/10/2023 16:15

CLX could threaten initial listing price. Ex-holding and one for the watchlist - market conditions are poor but feel it is a good company.

[owenski] 10/10/2023 16:14

Hmmm, wonderful timing by that director sale was it not.

[hydrus] 10/10/2023 15:54

Broker note out after that fairly obvious profit warning does not read well. Now forecasting only £17m revenue £0.1m adjusted profit before tax. What a downgrade