Northern Bear Share Discussion Threads

[exbroker] 25/9/2021 12:07

JKAshton
Steve Roberts was the executive chairman, his role on the plc board was only part of his day-to-day involvement with the company. He is a director of the subsidiaries.
The H Peel acquisition could have been the idea of the now departed Graham Jennings.
This is to a degree a people business; the balance sheet is full of goodwill.
No analyst will want to cover a company worth £9m with 40% of its shares in 3 hands.
They also state in the last set of figures why they don’t encourage profit estimates.
The departure of Jennings will have led to a change in how the group is run on a day-to-day basis, Keith Soulsby is very much a hands on manager and I expect inter group communications and cross selling to improve over time.
At the end of the day if you think that Baryshnik can make changes and run the business from 5 time zones away stay invested. If not then they are a public company and you can always sell your shares, or in the current market try to sell your shares!

[jkashton] 25/9/2021 11:23

I think the board changes reflect a concern about how the company is structured and ultimately managed under the group umbrella. As highlighted elsewhere the compensation paid to the underlying operating companies MD's is a much higher proportion of Operating Costs for those Subs than is normal and I assumed has reflected an element of original owner retention in the payments. While the Group Structure clearly doesn't look top heavy or expensive there are two roles now that are unnecessary and I would question what payments will made to Howard Barry Gold(Life President) and Steven Mark Roberts(Chairman Emeritus), also the longevity of those roles needs to be questioned as they structurally out of kilter with a company where its market cap is only £9.33 million. The big issue from my persepctive as investor with a disproportionate part of my Sipp held with NTBR is that they purchased H.Peel for £2.9 million and then wrote of most of this in the recent accounts under a goodwill impairment charge. While H Peel is clearly not a zero value company it does reflect a purchase(first in 10 years) that was badly timed and badly assessed by way of underlying value of assets. My hope is that Baryshnik prompts an internal review of the costs / revenues / profits at the subsidiary levels and puts in place a much more sustainable structure reflective of the size of NTBR and the Subs and also does engage more directly with the Analysts such that we can get transparency against the share proce aka as a group against the sum of the individual parts as my fear is that the Subs being a part of the NTBR group benefit only in the provision of underlying Financial and Organisational Services and never get close to cross ell opportunities or leveraging organisational and opertaional structures across multiple Subs outside of the light touch Group Structure. I had high hopes when I bought into NTBR but personally I think the Group Management and Structure(not the Subs) has let Investors down to date.

[acv74] 31/8/2021 15:39

You're welcome

[zangdook] 31/8/2021 13:25

Good luck, and thanks for all the shares.

[acv74] 31/8/2021 12:55

Thinking about it I suspect it's 15 years.

[acv74] 31/8/2021 12:54

I've been invested here for 10 years. Made good money at times (I bought some at 8p). But I've kinda come to the conclusion that it's going nowhere fast, someone said on here about the opp to sell at 72p 3 years ago and that hit home with me. The shares are also very illiquid.I've sold out last few days, better oops elsewhere.

[purplepelmets] 25/8/2021 11:33

yes, aside from hopefully getting the share price moving again, I am more interested to see what JB's plans were. I regretted not letting him have my shares at 72p what was it 3 years ago now?!

[zangdook] 25/8/2021 11:06

Baryshnik must have some sort of fireworks in mind, eventually.

[its the oxman] 25/8/2021 10:56

I'm thinking trading will recover from covid , div will return and value creation will improve with chairman/ change at the top. Can't say when but could easily be 20p or more higher again. Downside limited with a lot of weak holders probably having sold by now. My hope.

[its the oxman] 25/8/2021 10:45

Yes could be interesting times ahead, still think now is the time to accumulate sub 60p while forgotten and ignored by the market. Time will tell I guess. GLA.

[rmillaree] 24/8/2021 19:47

Interesting - very interesting. Perhaps i should have got off my lazy ars and jumped on the metro.

[exbroker] 24/8/2021 13:42

zangdook

Jeff B has 25%+ so he could depending on the votes of the other shareholders block a simple vote. Resolution 7 was an ordinary one, while 8 was a special so would require only his stake to vote against. Resolution 9 about buying back shares was passed so maybe this is what he wants to do.
Don’t forget most private shareholders never to bother vote at AGM`s so it could be that he had enough votes on his own.
Why not ask the company for the votes for each resolution?

[zangdook] 24/8/2021 13:13

What happened to resolutions 7 and 8? Was that Jeff B's work too? He couldn't block a motion by himself; if it was him he must have had some help.

[zangdook] 24/8/2021 13:08

'Increased engagement'...I don't see him moving to Tyneside and putting on a hard hat

[aimwinner] 24/8/2021 12:20

Looks like there has been a palace coup!

I wonder what Barysnik has planned for the group, seem to be no change at the operational level from what I can see.

[jaf111] 24/8/2021 11:49

Well I was wrong....there is news.....actually quite interesting news imho!!!

[zangdook] 24/8/2021 08:14

There was an email on 6 August linking to this

"Northern Bear is pleased to announce the appointment of Russell Crowther as Managing Director of H Peel & Sons from August 2021."

[jaf111] 24/8/2021 08:02

AGM today....presumably the company has nothing further to tell its shareholders since 21 July?

[mach100] 12/8/2021 15:56

The performance since the 70p tender has been grizzly. I can hardly bear it.

[its the oxman] 12/8/2021 09:44

Sure fire bargain again sub 50p. Plenty of value/upside here and patience will be rewarded one day. That's what I cling to anyway.

[rmillaree] 23/7/2021 15:39

Grahamy1TY
I hear what you are saying but ultimately the directors are happy doing things their way , they basically reiterated this fact in the latest update (waste of money paying brokers) so unless major shareholders decide otherwise you just have to accept that whatever you want done simply aint going to happen anytime soon (probably).

Ultimately at some stage i would expect there could be an uplift in shareprice if the news is good enough - or if the company does eventually change its stance ref being more investor friendly. In the meantime though we simply decide to hold or not based on where we are. The one positive is that is time consuming to do corporate schmoossing and brokers do need to be paid - so from the perspective of getting as much cash into the business bank acount as possible they could easily have saved £1 mill or so (??complete guess) over the last 10 years by not spending time and money each year promoting the company.

[daz] 23/7/2021 09:57

Good points rmillaree, thanks for posting

[zangdook] 22/7/2021 10:16

Perhaps they're working together