Lookers Share Discussion Threads

[dadster1854] 24/6/2020 14:23

Bramall's micro management has't worked this time !! I think he has made the right decision to let another team of people to run the ship!!
Time to hang up your gloves Bramall!!!

[bluedaycoming] 24/6/2020 13:45

It's looking like an utter shambles here - three board directors gone without appointments waiting in the wings. That's not 'refreshing and strengthening' the board. That's an unplanned exodus - either rats leaving a sinking ship, or people being pushed out because they've been badly led/hired in the first place. As usual, the language from management here does not sound frank and honest. And that places the other FIVE MAJOR ISSUES (several being linked) in a particular type of context, to my mind:
1. FCA ongoing investigation into practices concerning vehicle lease agreements.
2. The much mentioned but never properly explained fraud which allegedly caused the initial delay to the accounts.
3. The apparent and public falling out with auditors.
4. The failure to agree the basis for the accounts, resulting in an anticipated failure to submit accounts on time.
5. The imminent suspension of this share.

A common theme linking these issues is a lack of honesty and a lack of management control. I strongly suspect a suspension followed by delisting; as ever, that is just my opinion, so please do your own research.

[jaf111] 24/6/2020 07:58

Of the changes I am most surprised to see Bramall standing down next year.....raises a big question over what he is going to do with his shares (around 20% from memory)....

[wilsman1] 24/6/2020 07:43

All change on the Board the Accounts to follow shortly now there is someone to blame. Mark my words

[jaf111] 22/6/2020 10:34

Almost 100% certain that they will NOT!

[nick rubens] 22/6/2020 10:02

8 days left before 'temporary' suspension. Anyone reckon they'll get the accounts out by then?

[jaf111] 18/6/2020 15:05

Of course there are various possabilities....

What worries me is just how long these issues remain unresolved (plus the FCA enquiry), and the recent (8 June) news re results delay / resignation of auditors at the very least says what an utter shambles, but more realistically IMO something potentially quite serious.

[effortless cool] 18/6/2020 14:40

The fraud can be in the misstatement of the accounts, it does not necessarily mean that some one has stolen money. The latter can be recoverable, the former can only be corrected for.

[nick rubens] 18/6/2020 14:37

cheers woodwards26

Perhaps they should have called it accounting 'error', in overstating bonuses that didn't materialise etc.

Fraud is a specific term with implications and Lookers have used it to describe the events.

Anyway, share price still holding up well as deadline looms for what should be just a temporary suspension. In my experience delays in posting accounts with auditors struggling to work things out rarely end well. Hopefully in Lookers case it is what is suggested and not any worse.

[woodwards26] 17/6/2020 20:16

Nick I would guess there isn't anything to recoup . My guess would be someone has over stated or over claimed bonuses from a supplier. These bonuses were put into the accounts and then either not paid or reclaimed.Tesco did something similar I believe a few years back but not fraudulent they just posted bonuses due early I think.There is so much bonus paid in the motor trade and it changes regularly from Customer Satisfaction rewards , Target Rewards, Retail and Fleet incentives etc etc so takes a lot to keep track of

[nick rubens] 15/6/2020 10:49

wobbly123

"This is my last post as life is more important than reading what an idiot posts."

I think the moment we start investing/trading, we've already given up our lives. lol

I'm surprised Lookers is holding up well considering the accounts delay, auditor walking and impact of the 'fraud' in this current trading year.

What I don't understand is why there is no mention of potentially recouping losses in the so called 'fraud' and any prosecutions pending? Was it fraud or not.

[woodwards26] 12/6/2020 19:39

I don't see it going that low but with so much uncertainty it could well trade a long way below its value for some time.But equally there will be enough employees who have a feel for it and will buy to support the price like when pendragon dropped to just over 1 p 14 ish years ago .I was working then in the motor trade the price was saying it's going bust but the guys on the shop floor who spend their days wheeler dealing were buying .

[jabers1] 12/6/2020 13:46

Why can i be losing money when i bought at 16P and shares are today 23p? Once you get past primary school i am sure you will do better with your Maths and Statistics 🤡🤡🤡

Keep your chin up, your future can only get better. 🤡🤡🤡

[wobbly123] 12/6/2020 13:12

Keep looking into your mirror and say
I was right to buy Lookers, they will rise in value.
A loss isn't a loss as I haven't sold.

This is my last post as life is more important than reading what an idiot posts.

Grow up, accept you have lost money and sell your holding.

[jabers1] 12/6/2020 12:57

Dear Wobbly123, i find it remarkable that you posted the following post on 30th May and now your back again so quickly! (Maybe best you continue to post in one of your other names)

As you enter adult life you will slowly understand its best not to make statements and then change your mind! 🤡🤡🤡🤡


Wobbly12331 May '20 - 12:42 - 1993 of 2129
0 0 0
FCA isn't the Law.

Banning something doesn't prevent claims being made.

Banning something usually occurs because something has been done in the past.

Some people may wish to name call me and accuse me of not knowing what I am talking about, that's fine.

The fact is a SECRET COMMISSION is illegal. Just search the subject don't take my word form it

I would suggest that jabers1 one stops crying over his share certificates and grows up.

🤡🤡🤡I thought ADVFN was for grown ups, unfortunately a number of people clearly aren't. I will no longer post on this site on any subject.🤡
29313;🤡

🤡🤡🤡Best of luck to all of you, and more so the lawyers pursuing dealers and lenders over secret commissions.🤡;🤡🤡

[wobbly123] 12/6/2020 09:53

Jabers1

When you grow up you will understand that rules apply to the future, whereas mis-selling is historic.
Changing rules will likely reduce future mis-selling but won;t have any effect on historic breaches of CCA etc. New rules may actually alert people to the fact they have a mis-selling claim.

[jabers1] 12/6/2020 09:35

Please add comment WOBBLY

[jabers1] 12/6/2020 09:34

How can anyone who has any intelligence at reading balance sheets say that a company with nett debt of £57m and their property portfolio of £325m is now worth 2p per share?

[bluecash] 12/6/2020 09:24

Low liquidity. One buyer/seller, big movement.

[wilsman1] 12/6/2020 09:15

Just keeps going up!

[wobbly123] 12/6/2020 09:11

Silkear,

Who knows. Agree the share price is way overstated.

[silkear] 12/6/2020 08:28

Surprising there hasn't been more of a massive panic on here. They say they can't publish their accounts, they've fallen out with their auditor, they've got a fraud and the facts are not yet out (how much etc) and they expect the shares to be suspended at the end of this month? Or next month? What will these be worth in a fortnight? Is it some kind of set-up to depress the shares so someone can buy up at 2p or something?

[wobbly123] 11/6/2020 18:52

Yes I can go back after spending the profits on my shorts Lookers, Wall Street S& P 500, FTSE and individual stocks. Will be several years time with markets tanking.

[jabers1] 11/6/2020 18:29

WOBBLY123 can i ask if your school has given you a date to return yet?