Northern Bear Share Discussion Threads

[graham1ty] 27/6/2022 08:32

Oops, pressed send too early.

In the past, lots of Vendors took stock and five years ago, the share register was riddled full of 2-5% shareholders, mainly the MDs of the subsidiaries. One of the many reasons the share price has been so bad is that, one by one, they have retired or been moved on, and have sold their shares into the market, usually in a disastrously uncontrolled way ( at a discount, in one big lump, wrecking the market).

So, Graham Jennings sold 825,000 in Feb 2021, and regular 100,000 lumps in the months before. Keith Soulsby sold from his pension in 2019. John Pither 505,000 in Jan 2019. Derek Wymes and Graeme Tennick dumped 591,000 each in 2017.

First, this is a constant overhang, as there is always a line of stock overhanging. Secondly, the Company should have been involved and placed them, formally, with new institutions rather than letting these Vendors wreck the market.

Lastly, what does it tell you when no one within the business sees it as a good thing to hold onto their shares ( of course, for many, this is their main wealth, their pension pot, the result of a,life time of building up a business, and realising the money made from selling to NTBR, up to the point of sale, a paper profit only). However, the fact they all “want out” says something about how they see NTBR as an investment

[graham1ty] 27/6/2022 08:21

Zang, as a Vendor, would you want to take shares in an illiquid, underperforming share ?

[zangdook] 27/6/2022 07:51

...or they could acquire for stock, if Jeff is willing to dilute himself. No mention of possible dividend policy. Also, if they're looking at acquisitions it suggests he's not aiming to break the company up and sell it off.

[graham1ty] 27/6/2022 07:40

No mention of greater engagement with shareholders….

If they were looking at larger acquisitions, how were they to be funded ? The Company does not have enough cash, and would need an equity placing. Which is where friendly shareholders are needed…..

[this_is_me] 27/6/2022 07:32

Some recovery after the pandemic.

It looks like they had planned acquisitions but couldn't get a deal at a good enough price or those companies had problems. I'm glad that they are not just doing deals for the sake of it.

This may well cause a strategic rethink.

[zangdook] 27/6/2022 07:22

"Following Board changes in 2021...Jeff commenced a process of engaging with the Board and management to discuss and review the Group's strategy and approach to capital allocation.

This review remains ongoing"

In other words he's not getting anywhere. I would have thought he had some concrete endgame in mind when he did his tender offer. I wonder if things are really going to plan for him.

[value hound] 27/6/2022 07:19

Excellent update - silly valuation - worth more like £20m / 106pps IMO, but you have to temper any valuation with the fact that it never gets a decent rating, so what - 90p?

[aimwinner] 13/6/2022 15:36

Graham1TY
I agree with you as time has passed this looks like a Board coup.
I wonder what the two stooges, sorry new Non-Executive Directors made of the companies on their trips North, and if they know what the plan is?
zandook I agree they have had the best part of 7 months to decide what they are going to do and so far silence. They have either got a strategy and will present it with the figures, but if so why not before?
Worse they could have no clue what they are going to do, and it was all a mistake after a good lunch by Jeff.

[graham1ty] 08/6/2022 13:25

Is almost three years since the 72p tender offer, followed by the Board coup.

It is now seven months since the last trading update ( given in the November interims).

The Board continue to treat investors with contempt…̷0;.

[zangdook] 05/6/2022 10:47

24/8/21
"I look forward to increased engagement with all of the Company's stakeholders in due course."

26/11/21
"I have commenced a process of engaging with the Board and management to discuss and review the Group's strategy and approach to capital allocation, including the dividend policy. Once this process is completed, we will provide further information to shareholders."

Results should be next month. If Jazzy Jeff hasn't completed his process by then we might need to think about hiring him a Geordie-Canadian interpreter.

[tiswas] 01/6/2022 08:40

I think that the cunning plan must be to wait for us to all sell up out of boredom!

[this_is_me] 28/3/2022 14:30

Currently a big bounce in the share price, although on low volume.

[thirty fifty twenty] 25/3/2022 21:34

strong price action and good volumes,
I wonder if there is a TU soon.
EPS could be > 10p

All IMHO, DYOR + BoL
NTBR is in my portfolio

[tiswas] 17/3/2022 15:13

Def something afoot. See my post above.

[this_is_me] 17/3/2022 14:53

Nicholas Beaumont-Dark has acquired 263,431 ordinary shares of 1p each in the Company ("Ordinary Shares") and that Mr Beaumont-Dark now holds 2,589,999 Ordinary Shares representing approximately 13.83 per cent. of the Company's currently issued share capital (excluding treasury shares)

That certainly had an effect on the share price.

[tiswas] 11/3/2022 13:37

I do not think that you missed much!

This is intriguing though. Our Canadian friend has over 25% through Cedarvale but Nicholas Beaumont Dark, a former stockbroker I believe, has nearly 13%.

Why would 2 individuals like that, seemingly unconnected, end up with such large holdings here in a sleepy NE building services company?

Answers on a postcard to ..............

[aimwinner] 11/3/2022 13:03

Did I miss something, what was all the volume yesterday?

[zangdook] 24/2/2022 09:45

People dumping to put money into POLY and RAVP ;-)

[tiswas] 24/2/2022 09:20

I am assuming it is not Ukraine? Snow in the north east?

[aimwinner] 22/2/2022 15:32

The price is going up, has the master plan leaked?

[exbroker] 16/2/2022 16:42

So, 6 months after the AGM and 3 months after the new non-executive directors have been appointed there is still no news as to any " stakeholder engagement" or details of a change in direction. Is the old strategy of small add on accretive acquisitions still being pursued?
If not, then why is this company still public or is it Jeff B`s intention to take it private after the last 2 years of disappointing share price performance with a cheap bid?

[aimwinner] 09/2/2022 13:10

Purple
Why did you not wait for the Master Plan from Godot, sorry Jeff B?