Coms Share Discussion Threads

[skinny] 25/2/2015 07:07

The Board of Coms plc ("Coms" or the "Company" or the "Group") today announces an update on trading for the financial year ended 31 January 2015.

The increases in revenue reported for the six months to 31 July 2014 continued during the second half of the year and as such the Board expects to report revenues in line with market expectations.

Gross margins have continued along the lower trend seen during the first half and will be lower in the second half than for the first six months. Furthermore, the restructuring process referred to in the interim results continued during the second half of the year but the anticipated re-alignment of costs has not been achieved. As a consequence, the Board expects that the Company will report a substantial loss for the financial year ended 31 January 2015 of at least several million pounds.

In light of this very disappointing financial performance, the Board is reviewing the Company's strategy with the aim of ensuring that improved returns will be delivered across the businesses and to shareholders.

The Board has concluded that it is necessary to strengthen the Company's executive management team at the earliest opportunity and is currently in discussions with potential candidates with the appropriate expertise and knowledge of the wider industry in which Coms operates. In addition, Diana Dyer Bartlett, Non-Executive Director, has taken on the responsibilities of the finance function, pending the appointment of a finance director.

The Board also announces that on Friday 20 February 2015, the Company received a requisition from Dave Breith, CEO, to convene a general meeting of the Company for the purpose of considering resolutions to remove Frank Beechinor and Diana Dyer Bartlett as directors of the Company and to appoint Iain Ross, Neil Taylor and Brendan Loughrey as directors of the Company (the "Proposed Resolutions").

The Board is required to convene a general meeting to consider the Proposed Resolutions by 13 March 2015. A further announcement detailing the background to the requisition and the Board's response will be made in due course.

Finally, the Board received notification on 18 February 2015 from Dave Breith that on 25 July 2014 he purchased 20,000 Coms ordinary shares. The Board has since sought clarification from Mr Breith as to the circumstances and details of the dealing, including as to why no prior permission to deal was sought from the Board, but to date no such clarification has been forthcoming. The Board will make a further announcement regarding this transaction as soon as full details are available.

[le mass du pap] 24/2/2015 16:17

2.275 buy, 2.265 sell. Tight spread, looks like an overhang being cleared.

[mega_trader] 24/2/2015 16:03

Been pleny of large trades go through lately though.

[a71jay] 24/2/2015 14:14

Not sure about buys, but it would appear that all the ones in the 2.2 range are sells

[mega_trader] 24/2/2015 14:04

Buys being reported as sells again. Price being held back for the city to load up. Some big trades going through.

[cgod] 24/2/2015 11:00

Just look at the jobs on offer, this is about to blow.

Current vacancies

Would you like to join our team? You'll find a list of our current vacancies across the Coms plc group below.

IT Systems Analyst Stokenchurch Coms

Project Delivery Site Manager - Contract London Redstone

Project Delivery Project Manager - Contract London Redstone

Administration Receptionist Stokenchurch Coms.com

Finance Group Financial Controller Stokenchurch Coms

Sales Corporate Real Estate / Smart Buildings Sales Manager London Redstone

Animation Animator London Coms

Support-MS Data Centre Engineer Basingstoke Redstone

Sales Business Development Manager Stokenchurch Coms

Sales Telephone Account Manager Stokenchurch Coms

Pre Sales Pre Sales Consultant - Physical Security London or High Wycombe Redstone

Project Delivery Data Cabling Engineers & Labourers Customer Sites as Required Redstone

[jasonoranged] 24/2/2015 10:33

Trading update this week imo.

[cgod] 24/2/2015 10:32

MMs are trying to push the price up now.

[atlanticbridge] 24/2/2015 10:23

Good post.

CS reports have always praised what's been achieved with COMS and from memory described it as remarkable.

[balbains324] 24/2/2015 09:42

Excellent post

[balbains324] 24/2/2015 07:32

Things are good, Mindless tweeting is not good for any company and DB has learned the hard way. Slow and steady wins the race. This will start ticking up as we are getting closer to some news. A solid foundation has been built here and I have a bullish view. Time will tell if I have called this right. DYOR

[sos100] 23/2/2015 13:06

harrywilliam
14 Feb'15 - 10:25 - 4317 of 4364 3 0

If things were good DB would have been blasting out rnss like nobody's business.

can anyone really put up an argument to counter this?

[jasonoranged] 23/2/2015 12:59

I still expect a trading update this week and I have not seen anything from the company to suggest anything other than good news ie targets will be met.

If so expect rerate to over 6 p short term imo.

[seans66] 23/2/2015 12:54

JasonWhat does your mate say? Thought there was big news before the Weekend?Not sounding as confident as last week?

[jasonoranged] 23/2/2015 10:56

Well they are about 5 months overdue an update so over to you Dave.

[a71jay] 23/2/2015 10:52

I'm confused now. Looks like they are all sells as the price is dropping!

[saucepan] 23/2/2015 09:46

COMS tweet confirming launch event on Thursday.

[a71jay] 23/2/2015 09:42

Lost of buys coming in. Mostly all showing as sells.

[jasonoranged] 23/2/2015 08:38

Anyone else expecting a trading update this week.

It was the last week in Feb last year, got to be something soon!

[filiman] 23/2/2015 08:12

but for now, it sucks

[caledoniaman1] 20/2/2015 15:39

Back lads, they'r using Scottish Bluebells :)

[lr4850] 20/2/2015 15:35

Helium getting back the stake they sold???

[cgod] 20/2/2015 14:57

Another 600k buy, some thing is brewing?