Finsbury Food Share Discussion Threads

[aleman] 18/10/2011 14:04

Only blue on my monitor. Always promising when strength is seen, even in a weak market.

[spaceparallax] 18/10/2011 13:25

nice 24K buy tickling things upwards

[aleman] 14/10/2011 14:13

Can't you get all your waffle into one sentence? We don't mind negative views. It's your expansive repetition that is annoying.

[boffster] 14/10/2011 13:21

Markt. It wasn't negative. It was rambling and irrelevant. Post as much negativity as you like.

[markt] 14/10/2011 13:15

..."cant eat value"

youll find lots of posts and opinions about the options if you go back X weeks to when it was announced....

(I have an extra opinion/view....but I keep to myself....since I dont agree with occasional deletion of any negative posts from me..)

----

recent price action and chart is looking strong...
perhaps triggered by the wheat price falling a large %....or maybe something else..

(some big trades over last 10 days..eg. 300k......maybe someone selling out ....but shares getting taken up at similar price....agreed trades perhaps...)

[spaceparallax] 14/10/2011 11:18

someone's bought a nice 50K+ slug this morning.

Anyone know who makes the legemdary pine scented Heston B's mince pies?

[aleman] 14/10/2011 10:25

Thought I'd post that chart again with a slightly shorter time frame.

[spaceparallax] 14/10/2011 09:07

recent share price activity is looking positive for a mini breakout

[boffster] 12/10/2011 18:19

Lol Aleman. I'm quite chuffed that people think I'm responsible when the shareprice goes up! Not me this time. I'm busy losing my lunch money on a PFD punt.

[spaceparallax] 12/10/2011 16:45

interesting couple of late buys - does someone know something not yet made public?

[spaceparallax] 12/10/2011 16:29

Good to see

[aleman] 12/10/2011 15:55

Yummy! 25p gone again. Just hold above it and it could be a big stepping stone. The shareprice is leading its averages in order again..


Some big trades today. Fund manager buying in? DId you find a wallet down the back of your sofa, Boffster?

[aleman] 12/10/2011 14:50

25p resistance looks like it is struggling with several of us topping up and may soon turn to support if there is no news to spoil things. There is a big gap to fill above it though so it might not stick at 25p long when it goes.

[crawford] 12/10/2011 12:44

Aleman,
totally agree, there needs to be a better way for shareholders to approve the sizes of share options and the performance criteria.

jpjp100 - options are more than what you're saying - they are a free perk in that whoever has share options has zero risk and zero capital at stake but a lot of potential rewards.
Although it's an option to exercise, the option holder doesn't have to part with any money - unless they actually want to own the stock! For instance, they can be sold into the market and the director pockets the difference between the vesting price and the market price.

[jpjp100] 12/10/2011 10:56

I think the option plan is generous - as generous as the beneficiaries could get away with and I don't begrudge them that.

As far as I can see, the option strike price was pretty much at the market at the time of the announcement, not that hard to justify imo

An option is just that, an option to buy the shares at that price. Its not a load of free shares!

[canteatvalue] 12/10/2011 10:28

Apologies if this has been covered before but I went back a few pages in this thread and didn't see any mention of this - I'm intrigued by this company for its current low price relative to earnings but am currently put off by the absolutely incredible amount of options held by the directors:



From what I can see, three directors have options for 6.5m shares when the total issued share capital is only 53.4m shares currently! That's a 12% increase in the total amount of currently issued shares. Now, I'm all for alignment of interests of directors and shareholders, but to me that amount of options seems way out of line and to me is a bit of a big red flag as to whether this company is being run for the directors or the shareholder's benefit. There's very little detail given as to what the requirements for these options are but given the vesting dates are not very far away it doesn't seem like these are really "long term" incentives but rather a quick way to transfer wealth to the directors.

If it wasn't for this really rather obvious excessive compensation I'd be really rather keen on this share but I'm finding it hard to look past this kind of red flag. I'll tolerate a lot of faults with a company but self-interested management is one I'm not very keen on. Other than that I think the company has a lot going for it (I think the commodity price issues are very short term and the company has done well to pass on most of the cost already) and the price is incredibly cheap. The positive take on this however is to say wow - the shares are dirt cheap and the directors have a huge interest in getting the share price moving! The other way to look at it is to question whether management will just keep milking shareholders for their own benefit.

I'd be interested to hear other's thoughts on the share option plan.

[aleman] 10/10/2011 12:53

I had yet another small top-up last week. It moved the price up so I think they might be short of stock.

[aleman] 10/10/2011 12:49

PFD has been having problems for ages. It didn't hold FIF back in the past so why should it now?


New broker joined coverage?

Cenkos Securities BUY 07 Oct 2011
2010 5.84 7.07 - 189.58
2012 6.42 7.71 - 197.16

Panmure Gordon BUY 28 Sep 2011
2010 5.84 7.07 - 190.00
2012 6.30 7.71 1.00 195.00

[boffster] 10/10/2011 12:49

Of course they're in a position to bargain. They hold some very staple brands that retailers, if not need to, are very desirable to have on their shelves. I doubt there is sufficient slack in the food manufacturing sector to sack PFD off.

Yea, bad sector, maybe eating food is a consumer trend that's on the way out!

[markt] 10/10/2011 12:30

....a negative view could perhaps be that the PFD problems indicate that it is a bad sector....

margin
I dont see PFD problems create any liklihood of increasing margins...PFD are in no position imho to argue/bargain about margin with any client....

[aleman] 07/10/2011 11:54

I never replied in the PFD question. Sorry. I was a shareholder briefly and tried some of the new product launches that were to address changing markets during and after the recession. I thought they were woeful. PFD seem to have some tiring old-fashioned brands and lack of innovative capability to replace them. I have doubts about the general management quality after they have probably suffered years of being managed to cut out as much cost as possible (until the pips squeak?) for the refloating after private equity ownership. It looks like a business that wanted breaking up before it was too late (perhaps after years of underinvestment?).

[boffster] 07/10/2011 11:16

I think PFDs woes also will set a low water mark for margins. They can't afford to be squeezed any more.