Colliers Intl Share Discussion Threads

[menthol] 04/1/2012 10:28

The problem here is they have an £18M revolving Bank loan which is to be re-paid in March 2012. They should have re-negotiated this before now. Since there has been no mention from the company I can only summise they will not be able to pay this and therefore will be going into administration. I am also a pre-October holder and would advise peeps to stay well away.

[scburbs] 03/1/2012 10:18

Mr Horrell's performance to date is dire. Overseeing big European transactions and turning around a UK centric regional player to restore core profitability are very different roles.

All he seems to have done is focus on big ticket London expansion (i.e. similar to the sort of thing he would have done at JLL) and big ticket expansion is very expensive from a standing start. My guess is that he intends to expand Colliers to death as all these expensive new recruits will probably be loss making for the first couple of years and Colliers can't sustain years of loss unless FS prop them up or take them out. He didn't even finish the job of restoring core profitability (in which his predecessor had made reasonable progress) before starting off on a new strategy.

Loverat, Yes I was invested pre-Oct and I am narked off with the very high risk strategy that Mr Horrell has followed since taking over as it threatens the company's existence.

My guess is that he is going to blame the economy. However, it was clear well before the Euro crisis that he was following a dangerous expansion strategy having failed to restore core profitability.

The problem is that the core business actually has substantial long term value, but Mr Horrell seems set fast on a course which will mean current shareholders (FS aside) will not benefit as he may bankrupt the company before it can be realised.

[loverat] 03/1/2012 06:13

This the slide here over the last three months. I have considerable sympathy for anyone invested here at pre OCT levels and I would imagine they would have every right to be narked off.

[loverat] 03/1/2012 06:08

Indeed - caution is always warranted and only have beer money in this.

No statement as yet from the company though. Difficult to see why no announcements if there was a material change in the financial status of the company.

Checked back on another site and someone states back in November around the 4p to 2p slide that there was a large short position suggesting that someone has their snout in the trough. Not sure how to check that though. And the share price did follow the collapse in DTZ. Interesting collapse as you say.

[topvest] 02/1/2012 18:32

Interesting price collapse here which seemed to run alongside the collapse in shareholder value of DTZ. I suspect caution is warranted. Difficult to see that the market has it that wrong!

[loverat] 01/1/2012 12:36

An article from late last year about Mr Horrell. Well he has the pedigree and experience it seems.

[loverat] 01/1/2012 12:23

Wakeland

That is what I was thinking. The share price has been on a continous decline since then. I remember reading on here that one PI phoned them and they said something like 'when we have news to report it will be released'. Therefore if trading is different from their previous expectations this should have been reported as it is price sensitive. It is inconceivable to think otherwise but as you say - this is AIM.

The other thing of note (from reading the last 40 or so posts) is that they have been taking on lots of new people and by the sounds of it receiving a fair bit of new work. One poster suggested that COL was trying to recruit themselves out of trouble - the implication being this was unwise given their financial status and challenging conditions going forward. Well, again as there is no news perhaps all this recruitment might be for a very good reason and having a positive effect. The other thing I recall is the CEO (I think when he took over) stated that overall he had found the business in a reasonable condition. So perhaps the DTZ effect, the general malaise and lack of trading has simply caused the share price to fall the way it has. I have seen other declines like this elsewhere only for the company to say that it is trading in line. Therefore I took a small punt here just recently.

[wakeland] 30/12/2011 10:34

As this lot have offered no update since the half yearly report then they must be around break even for H2 as stated at the time. Trading update due in the middle of Jan if it is anything different (which share price suggests) then will AIM do anything? No, of course not, AIM is to loose and is getting worse not better.

[loverat] 20/12/2011 17:58

Thanks davidosh

Most of the companies we featured have delisted following fraud, dishonesty and incompetance. For example a link to the current activities of one offender who previously ran several AIM companies into the ground for his own personal gain. We believe he was actually the main ramper on one ADVFN thread too.



The directors who replaced him uncovered all sorts and famously observed that they could write a book or a film on the subject. They actually asked him about the whereabouts of 6 million dollars of the company's money which under his management disappeared in Eastern Europe. This was a small company and was only uncovered when the new directors looked at all the books. His reply to the question was 'The Croatian Mafia have the money'

You could not make it up.

Anyway - will take a look and see. The FSA are hopeless so I reckon its up to us 'humble bloggers' to take them on.

[davidosh] 20/12/2011 17:20

A friend and I had a website set up a few months ago devoted to bad business and there was a section on poorly run companies and greedy directors particularly on the AIM market

loverat....if you pass the info to ShareSoc they will validate it and post it for you. They are very interested in data on companies and are currently compiling a league table on Nomads and brokers for example. Have you joined ShareSoc...www.sharesoc.org

You should join us in the battle against CIC

[envirovision] 20/12/2011 15:39

Its disgusting how directors and associated parties are allowed to help themselves . There should be laws which make pension managers, hedge and funds managers highly responsible for policing and safeguarding the intrinsic value of equity which they are invested in. Good luck with curbing cic, it will probably be an uphill struggle unless you can expose and embarrass the ill will of a few fund managers.

I thought the tobin tax was a good start to curbing short term trading but as usual the government have acted robustly to protect the city elite.

Trading needs to be curbed, it brings no wealth creation to the economy and encourages greed. Bring back good old fashioned investing I say so that everyone can benefit over the longer term.

Talking of another CR trading disaster, I understand fccn will presenting in January davidosh ?

[davidosh] 20/12/2011 15:10

Loverat...Agreed. It is the one liner merchants and false info pushers that folks need protection from and a few directors too. Have you seen the bonus payments at Conygar CIC for example ? Good thread here...



This will be a major test case for small investors who are going against the board on this one. AGM is 5th January

[loverat] 20/12/2011 14:57

Agree - there is a fine line to tread and there are many posters who are impressionable and influenced by ramps and deramps. I have continually maintained that view yet I am constantly told that ramping/deramping/dishonest behaviour does not affect share price movements or behaviour or if people are influenced they deserve what they get.

I think if most of us are honest we are affected by the behaviour of others and get sucked in on occasions. Especially people new to this. CR has a relatively high profile on here so I think he has some responsibilities. Inevitably because of his profile he will be criticised unfairly at times and I certainly have not seen any examples of him being irresponsible. Personally, I am more worried about the blatant pumpers & dumpers, rumour merchants and blatant liars.

[davidosh] 20/12/2011 14:53

enviro...A good point but I guess he will claim he is a long term holder until he has had a reasonable gain or becomes a short term holder due to unfavourable results or news !

[envirovision] 20/12/2011 14:43

He may well be honest in his strategy, but if he happens to have just bought into a share you are long term negative on, he cant handle it one little bit. Really if your going to be buying shares for a few hours or days, do you really have any business at all pushing them ?

[loverat] 20/12/2011 14:27

davidosh - agreed.

I think CR has been honest and set out his strategy when trading and investing so I have no complaints there. And of course you can't win them all.

I must say I have never been around when the share price has spiked up briefly and looking at the chart seems to suggest it was not through any lack of keeping an eye on things here. I don't understand the business but the chart here is very interesting. Looks like an share price fall from 6p to 1p on no news, the decline of which has excelerated in the last 6 weeks - again on no news and few trades.

Personally I am intrigued and I have seen similar falls elsewhere only for the company to come out and say everything is hunky dorey or at least with nothing new to justify such a fall. As for medium/long term I reckon these look doomed but the next few weeks may be interesting at these levels or thereabouts.

[davidosh] 20/12/2011 14:05

In fairness I think you have to accept that CR has a trader mentality and will exit quickly when things do not pan out and suffer losses but they will be smaller than those who thought it was a long term investment idea. He may mention dividend planning over 13 months and long term direction of companies but always consider that a week will be a long time in the current markets for someone who is trading stocks rather than long term investing.

Personally I never liked the management at COL as I think they shafted shareholders when they did a deal last year with the big shareholder and so deserve all they get IMHO.

[envirovision] 20/12/2011 13:48

I don't wish to poke fun or sound spiteful in anyway but jezz wept, how many is that now ?

[envirovision] 20/12/2011 13:46

Yea another Clockney Rebel share down the toilet, no surprise there then.

[loverat] 15/12/2011 10:55

Hi CR

I am sure like me you would have seen stocks fall like this for there to be no underlying company specific reason.

This has fallen so much I am looking at it again. Not sure I will take the plunge though. With the poor volume and mark down on any sell I just have a feeling that this might fall alot further.