Conviviality Share Discussion Threads

[theobaldr] 16/3/2018 09:26

I think any investor in AIM companies should be able to assume that the CFO holds a professional accounting qualification.

[maxk] 16/3/2018 09:25

Picking up on the problems is the easy bit, doing something about it is the tricky bit.

[theobaldr] 16/3/2018 09:12

The CFO has been in place for about 5 months I believe. Any half decent accountant would have picked up errors within a few days in my view.

[funkmasterp12] 16/3/2018 09:06

It's probably - probably - fair to say the newish CFO should survive this as it may well be him who has discovered all of this.The CEO is toast though.

[w1ndjammer] 16/3/2018 08:51

I doubt if its VAT the number is to big


WJ.

[joe say] 16/3/2018 08:48

But would you lend to a company that can't prepare a cash flow (bearing in mind there would normally be a budget and last year to compare to) and that the ledger would detail a material VAT creditor?

Unbelievable - after all it only takes one accountant in the whole hierarchy to spot - but seems they'd all been on the company's product !

[castleford tiger] 16/3/2018 08:38

REMIND ME this is a PLC?

What cash flow projections were they working with?

Clearly there is more going on if this has passed them by.
You can tear up any forecasts or numbers.

The market due to the new AWRS rules meant that the company is in a strong position as all grey market stock has been reduced.

It beggars belief that this is real.
If I were a major holder I would bring in a new team and fast.

Tiger

[w1ndjammer] 16/3/2018 08:30

superg

i know all that, but its self defeating, because the share price will drop
to the placing price...


WJ.

[superg1] 16/3/2018 08:19

Sorry thought you had made a typo, you are nuts then.

They push for 20% discount on a normal fund raise and drive the share price down prior to the fund raise.

Not negativity here just facts. You saw the view of Miton on the first news, they dumped a large chunk immediately and that was before the tax bill find.

Greedy.

Funds own 50%+ of the company and just got done over big time, of course they will want big discount in hope of repairing the damage.

[w1ndjammer] 16/3/2018 08:18

A Masters degree is the most commonly taken postgraduate qualification. It typically lasts for between one and four years, depending on the mode of study

The qualification is at level 7 on the National Qualifications Framework (NQF) - above Bachelors but below Doctoral - and is awarded to students who show a high level of expertise in their field. Study is intense and typically involves writing a thesis.

Masters degrees shouldn't be confused with the Scottish Master of Arts (MA), which is an undergraduate degree awarded by certain universities.

While having a Masters degree can greatly improve your career prospects, the high costs and demands mean that this method of postgraduate study isn't for everyone.

[richj5000] 16/3/2018 08:14

A masters degree doesn't provide a formal professional training in accountancy. Would expect FCA or similar for this role.

[phowdo] 16/3/2018 08:11

"future finding requirements"

They hoping to find a few quid down the back of the sofa, in the same way they found that tax demand?

Muppets.

[w1ndjammer] 16/3/2018 08:10

Master's Degree

[w1ndjammer] 16/3/2018 08:08

Mark Moran
Chief Financial Officer

Mark joined Conviviality in October 2017, and brings over 20 years’ experience at CFO level across a number of different businesses. Mark has been CFO of three public companies: Porvair Plc, SSL International Plc and Premier Foods Plc – and latterly was CFO of the private equity owned Priory Healthcare Group before its acquisition by Acadia Healthcare in 2016. Mark comes with a proven track record of financial stewardship and has been involved with many acquisitions and disposals, business restructurings and major refinancing

[richj5000] 16/3/2018 08:04

Does anybody know if the CFO has s formal accounting qualification?I don't think this in the company blurb.Thanks in advance.

[pilkersa] 16/3/2018 08:02

If they can do a fundraiser at circa 50p does anyone think this is worth a punt?

[w1ndjammer] 16/3/2018 07:59

no you read it wrong, i said 5% premium, i know they wont because they are greedy.

WJ.

[thedoghouser] 16/3/2018 07:58

So many shooters on these boards trying to spread the worst fear possible so that when it reopens they gain as much as possible ... best advice I was given ... ignore these boards and just keep fingers crossed ... these boards are truly truly seedy in their motivations

[superg1] 16/3/2018 07:55

Wind

Are you having a laugh, 5% discount?

[w1ndjammer] 16/3/2018 07:52

well if insties do a placing at say 50p they will be making the greedy mistake
that most make. they will send the wrong signal, that the co is only worth 50p

do the placing at a 5% premium to the closing price,
and the wider market will back them.

WJ.

[solarno lopez] 16/3/2018 07:49

The funding institutions will demand it

[richj5000] 16/3/2018 07:38

The CEO and CFO will need to go.

[edmondj] 16/3/2018 07:35

It will probably get saved as the fund managers involved are too well-capitalised, than have to write off their gambles on a yet another debt-driven acquisitions vehicle. The question then becomes, what rating on a collection of low-margin businesses led by directors who failed to see the risks in the structure they were developing, and is any bid premium justified?