Conviviality Share Discussion Threads

[kcr69] 19/3/2018 21:48

hxxp://www.the-buyer.net/insight/major-suppliers-rally-conviviality-back-track/

Posted on a different site. Worth a read.

[topvest] 19/3/2018 20:28

She had to go really. What a shambles!

[edmondj] 19/3/2018 17:48

Dilution partly to support a pay-off, no doubt, same old errors.

[tradejunkie2] 19/3/2018 14:50

CEO now taking a well deserved break. Good luck to her and hope she has a wonderful time. We thank her for the hard work.

[w1ndjammer] 19/3/2018 14:07

well now that Diana Hunter has been fired, it looks like the rescue plan will
go ahead, or they would have left her in place to take the flack.....

I guess she will be in the caribbean topping up the tan next week along with Steven...

WJ.

[typo56] 19/3/2018 13:56

Amongst the many, here's one article Google pops up. Retrospective planning permission eh? Is that like restropective accounting?

[typo56] 19/3/2018 13:49

Steven Esom? Have you not tried Google yet? That's my usual source of in-depth research!

[wynmck] 19/3/2018 12:38

Hunter steps down

[russell250] 19/3/2018 12:38

well Diana Hunter gone - rns

I hope her bonuses are reclaimed

plus any wrong doing followed up with criminal proceedings

criminal activity eg fraud


if ceo is found negligent in role hence complicit to share price crash - can her assets be sought in court ??

[w1ndjammer] 19/3/2018 10:34

york investor

lots of peeps now saying i told you so, but where were they a few weeks back

hind sight is wonderful

WJ.

[york investor] 19/3/2018 09:44

Edmond, good point I wasn`t about in the 80`s but definitely learnt a (expensiove) lesson from this one!

[edmondj] 19/3/2018 09:15

york investor,

Lots of questions were posed after 1980s acquisition vehicles hit the buffers, despite a clean bill of health from auditors - but it seems nowadays, after the expansion of cheap debt since 2009, investors have forgotten the lessons arising. Definitely agree about the trade risk now.

[york investor] 18/3/2018 10:35

They need to act quickly any interruption to supply will mean suppliers and customers will jump ship. I expect there competitors are already out trying to pick up CVR customers.

[york investor] 18/3/2018 10:12

Baring any more nasty surprises (not impossible) looks like a placing is most likely scenario can't believe a company can go from 200mill plus net assets to insolvent overnight!

[masurenguy] 18/3/2018 09:10

Conviviality’s one too many for the road

This weekend, Conviviality’s advisers, including bankers at Investec and consultants from PwC, are locked in discussions over a bailout. It is looking to raise more than £100m to shore up its balance sheet. However, with the credibility of its management and board in tatters, shareholders may balk at pouring in more money. Since the float in 2013, investors have backed Hunter with more than £250m. In her hands, Conviviality has been transformed into an acquisition machine. Sources said investors were likely to back a new fundraising — but only because the alternative was so unpalatable. If they refuse to commit more money to Conviviality, their shares could become worthless. They are expected to demand a high price for their support. Hunter is expected to stand down early this week, but may stay on in a consultancy role. “Conviviality has a viable business model, but it’s caught in a liquidity trap. The internal controls and processes have been found wanting, but it’s fixable,” said Phil Carroll, a retail analyst at Shore Capital. “The question now is whether shareholders would want to back management with another cash injection. “

Complete article here:

[value viper] 18/3/2018 08:58

I wouldn't throw more cash at it at 10p or 20p (even) to avoid dilution.Increasingly angered by the deception and utter incompetence frankly.

[w1ndjammer] 18/3/2018 08:44

£150 mill its all Fake news these days,

no chance of getting 150 out of shareholders

not sure even the dopey CFO could have been that far out with the numbers

but hey i would hate to get in the way of the doomster headline grabbers...


WJ.

[r ball] 18/3/2018 08:32

That's not true. They have to report on whether or not the business is a going concern so they look at forecast and management accounts before signing the audit report.

[richj5000] 18/3/2018 06:42

Your assuming nothing else is going to be discovered over the weekend. You have a CFO who was buying £100k+ shares just over a week ago so anything could happen.Administration tomorrow and sale of viable businesses soon after. With any luck jobs will be saved. I do hope so.Clowns at the top off soon with any luck.All imho.

[tsmith2] 17/3/2018 23:16

All you are proving is that the papers have no idea what the amount is/will be..the company is still going to make £50mn EBITDA...