Geong Share Discussion Threads

[corrientes] 11/10/2013 09:31

No sharebuyback ; in the present situation that seems ridiculous. More like the market recognising that there's an increasing realisation the company isn't going to the wall, and so the share price is recovering. The trading pattern doesn't suggest a share buyback IMO.

[sir rational] 11/10/2013 09:22

Any posts on TMF Riv?

[rivaldo] 11/10/2013 09:22

This is simply imo the market taking a more realistic view of a company which even now has only a £3.5m m/cap against a profitable core business and over £20m of recoverables (largely from the likes of IBM).

Understandably given the travails of the company, this has taken some time. But the recent AGM statement has given a glimmer of hope on the cash/recoverables front. That's usually all the market needs. We wait to see if the improvement is tangible.

With a mid-December interims reporting date, there is a small possibility that GNG could buy back shares before the two month closed period kicks in - remember that they won't be able to buy in shares during the closed period unless they have given special consent to their brokers to deal at predetermined levels independent of further company instructions, and AFAICS they haven't obtained such permission.

I'm 99% certain there are no share buybacks going on. This is the extreme lowpoint of GNG's cash cycle, and they will be conserving their cash firstly due to this and secondly to repay the Hanafin loan - which is the main priority in my view.

[sir rational] 11/10/2013 09:05

Resolution 6 at the AGM authorised the company to buy back up to 3,783,462 shares, that is 10% of the company's issued share capital through the market.

Won't take long to get to 3.7m, possibly not much more than 5 trading days I reckon if it cranks up.

[sir rational] 11/10/2013 09:03

Standing by the buyback theory, looks like it.

[sir rational] 10/10/2013 16:35

100K at the close, got all the hallmarks of a buyback prog cranking up but we'll see

[sir rational] 10/10/2013 16:33

But they were never going to accumulate much at that 3-4-5p level, if they had tried it's so trade sensitive you'd either have seen the same price action as now or else no significant sellers lower than (say) 5p.

[odvod] 10/10/2013 16:31

3 - 7,5 p in 11 calendar days is reasonable enough and not a pump, yes

PS when there were last chinese holidays

[sir rational] 10/10/2013 16:28

So far, reasonable enough, I would say. If that's a buyback in action nearly everything has been sub 7.5-8p, can't really argue with that.

[odvod] 10/10/2013 16:20

SR - do you think this is an old fashion, reasonable, patient, low average, responsible way of buying? Fast buying in quantities which have an effect of fast moving share price north is pumping IMO. I am not talking about value. Time will show.

[smicker] 10/10/2013 16:09

I was replying to odvod re buybacks having to occur over a period of days. Did you check ffy?

[odvod] 10/10/2013 16:05

Sustainable development is modern with a reason.

[simon templar qc] 10/10/2013 16:04

Looks to me like red hot penny shares or similar mags as when the trades came in they came in one after another.

[sir rational] 10/10/2013 16:04

Odvod: 'pumped up prices'? lololol

[odvod] 10/10/2013 15:58

If this rise is due to the buy back it smells bad as only few will be bought out at pumped up prices which might fall back later. Uneconomic way of buying

[sir rational] 10/10/2013 15:54

Yep I've also seen buybacks conducted over several days with just 1 announcement at the end of it. GNG is not Diageo lol.

[simon templar qc] 10/10/2013 15:53

You check Debenhams.

[smicker] 10/10/2013 15:47

You are incorrect re buyback over period of days see FFY.

[corrientes] 10/10/2013 15:27

The only real sign of credibility for UK punters is when there's evidence of accrued income being converted into receivables and then into cash.They've employed someone specifically to deal with this very important area.The Board are closely aligned with their customers, maybe far too aligned. I read that the government, not just their customers, have been partly responsible for the problems with receivables/accrued income.

They still seem to have what they call many blue chip clients who haven't gone away (well why would they on a free carry) but crunch time must be coming very soon. If there's evidence that customers are being billed and paying up, then this will turn out to be a real gem. If not,I suspect the company will simply be divisionalised by one of its customers.

My former dealings with the Chinese is that they will do anything not to lose face, but this Board has stuck its face on the parapet with what they said last time,so they ought to be shxxxing bricks at the moment. Personally, I think if they were going to go down it would have been at the maturity of the disastrous financing agreement.AIMO.

[simon templar qc] 10/10/2013 15:01

Cannot accept your views on buy back as I said before the company has a duty to disclose the dealings if they are buying back. They are hardly likely be buying back when they are having difficulty in collecting their receivables.

Tips don't always come to light not everyone posts on bulletin boards.

[sir rational] 10/10/2013 13:53

GNG always was very leaky

[sir rational] 10/10/2013 13:52

Those red arrows are my points of interest Zangdook! Eg if we close today over the blue horizontal line, I'll be happy.

[odvod] 10/10/2013 13:41

buy back should be over period of time not just a few days