Rbg Share Discussion Threads

[scubadiverr] 09/6/2022 09:34

Are you forgetting about Mano? Didn't the CEO sell a similar quantity at less than 200p and its now at 328p. I'm surprised at you considering your input on that board

[bigbaggy] 09/6/2022 09:09

When the employees sell £2m that is the only conclusion!

[scooper72] 09/6/2022 06:58

How do you come to that conclusion?

[yf23_1] 08/6/2022 23:15

Looks like the share price is about to drop off a cliff.

[riverman77] 08/6/2022 12:40

This is really in the doldrums now and it seems to have all started after the announcement of the huge CFO bonus. I decided it was uninvestable at the point and sold out - seems a lot of others are of the same opinion. Shame as it looked an interesting company in many ways.

[bigbaggy] 08/6/2022 10:44

Turns out this is £2m sale by employees…after the £1m no-target share grant to the CFO and the 100% increase in remuneration to the CEO and CFO, this company is becoming a case study in how management milk a PLC.

[smidge21] 07/6/2022 17:57

It would have been nice to have the institution (see RNS) buy the stock in the open market

[qs99] 07/6/2022 16:30

Indeed, looks v. interesting, have bought a few on today's spike DYOR

[dicktrade] 07/6/2022 16:26

Big buys showing today 4,000,000

[goldbutler] 18/5/2022 16:17

Partners at the firm must be wondering , on the salaries they receive and the work which they do - what this bonus payment made to key personnel of 3 quarters of a million and shares too is all about- are they in the wrong job or are they wondering are they in the wrong firm.

Is the founder happy with this BOD and payments to key personnel - with turnover up , debt up but flat earnings for three years.

So where are the investment institutions - avoiding the shares just like the BOD

[goldbutler] 18/5/2022 16:07

Leasing Liabilities appear in the y/e accounts @ £15,849,101 -inflation linked in many cases too. The buy of MC appears to have added £11,685,333 in addition to the Debt to make each of the partners there share out £30 million. So what will happen with any slowdown in the economy resulting in failure to meet revenue targets or profits.

It doesn't read well

Targets at Convex for deals and revenue and profits - are there any more deals.

the incorrect strong pipeline figure given at the interim last year is poor financial reporting and it stinks - just how many times did the CEO or CFO speak with the leader at Convex between the beginning of the financial year and end of june.
Mr Driver appears to have worked his socks off last year. But with costs last year of almost £5.2 million and deals announced to-date this can only result in a profit downgrade unless 'money for old rope' deals are finalised by end of next month. it doesn't read well

Directors are of course in a sweet spot for buying the undervalued shares.

The chairman he must be about to buy a share soon .How is he going to sit at the AGM without a share. The other Directors could buy a share for him and sing for he's a jolly goodfellow.

The investments institutions and fund managers will/must be vicariously embarrassed for the CEO when she rolls up her sleeves, and gets proactive and tells them about all those reasons for buying the shares.
such as the huge lease liabilities , large Bank loan and overdraft and a dividend
that is effectively being paid out and cannot possibly be sustained with such lumpy
revenues

[goldbutler] 18/5/2022 15:34

Well the share price is now 99.5 p IPO on 08 may 2018
not an achievement for the CEO but yeah you've guessed it she didnt get a bonus last year

that IPO v share price is 1 p for each year and 1p for last year
plus ! extra half penny which is a full 50% extra ..... of a bonus .for shareholders

CEO and CFO creating shareholder value . and a very modest increase in pay - just ignore the three quarters of a million extra . How else are they to be motivated

a word for the 'extra' or the bonus is ....greed

fund managers , investment institutions have they been on the receiving end
of a presentation yet?

[donogh] 13/5/2022 15:10

This includes bonus payments of 360k - no bonus paid in 2020 so basic salary has increased by about 5%.

[bigbaggy] 05/5/2022 14:07

After Goldbutter's posts I had a look at the accounts myself. One eyecatching factor are the CEO and CFO's remuneration. The CEO is at £800k, which is far beyond the upper tier of normal AIM CEO pay. This is almost double what Foulston was paid last year.

Same trend for the CFO: £252k last year (normal for an AIM CFO) to an eyewatering £580k, which is way out of line. No wonder the institutions aint buying, they hate seeing management raid the larder like this. And that is before the ridiculous £1m shares granted to the CFO with no targets attached other than turning up to work.

This is a great shame. The management presented well since IPO. They seem to have lost the faith themselves and are simply grabbing what they can. Sad but a sign of the times.

[goldbutler] 04/5/2022 12:30

At its introduction to the stock market the CEO said the usual -
including shareholder value
and now with forecast growth in the economy of close to or under 2% in the next 2-3 years and inflation heading for 10% - the share price has done a full circuit back to the start grid and as for collecting £200 as you pass Go . 4 years on shareholder value is you've guessed it ?
all those key performance indicators and margins ,rolling up sleeves and being paid a slice of 1.5 million in the process

The directors of course are seeing the value in the share price - just look how many they are buying.....yeah you've guessed it


Perhaps she'll get lucky on some big litigation cases- has she done her presentations to the financial institutions - yeah you've guessed it she's good at presentations.

[goldbutler] 04/5/2022 12:09

Adnitor 40 shares for £80000 - non controlling interest and now an obligation
to buy in about 5 years.

Profit this year is given as £59,026 on sales of £415,829 but then the accounts show
group purchases from Adnitor £399,055 - and apart from about 16000 outside sales they are trading with themselves- Why is a law firm agreeing to buy such a firm in 5 years time at a price it would appear that they don't know - and they now have a derivative liability .

[goldbutler] 04/5/2022 12:00

HMRC has started an inquiry Note 31 in accounts

This is of course without merit according to Directors

It doesn't read well .

The accounts also have an item which doesn't read well- at acquisition date best estimate of contracted cash flow not expected to be collected £1,000,059. When they come to assessing litigation cases one item stands out has the other side the ability to pay. So can MC explain - who or what and why is there non payment of invoices. £59 pound maybe for someone with a broken business but there is a million in front that figure.just no pay.

Pay of course gets them key management out of bed in the morning but then they need to be motivated - yeah you've guessed it all that driving down costs and improving margins. Such as Key Personnel costs £1,566,918 - nice but not enough to motivate and up from £835,565 in the previous year - still not enough - must have at least one bonus and some options .just how is that 1.5 million divided up.

[maddox] 01/5/2022 19:53

goldbutler, I find your tone offensive. You are filtered.

[scubadiverr] 29/4/2022 21:24

Has anyone the mello link to the presentation? If you could please post it, or DM me it. Thanks

[goldbutler] 29/4/2022 15:29

I note you haven't d/w other issues raised .
MR brumby presentation 'SLAM' on rbgp was woeful , o level standard.
is this the sum total of RBGP forecasts that they are reliant on mr thompson at investors chronicle.


-

[goldbutler] 29/4/2022 15:20

well thanks for the hello Maddox

#you give figures for y/e 22 but for y/e 23 est the peg is 1.1 on revenue of £60m and very little growth of 8% in eps.

The company is headed by an individual clearly out of her depth
shunned by institutional investors to the extent ( according to you and her ) that Ceo is going to go calling on them. what on earth do you think she will be asked?

She will be asked what are the profit figures on the new lionfish and how will it transform cashflow profits PEG PE and eps. If it is to be transformational then she needs those figures for ye 23 ye 24 ye 25 into the market - now. If she thinks on 1x or 2x times money return and costs for insurance and others are taken out she needs to say that it can add 5p to 10p on eps. for her shareprice is heading below 100p.

she needs to rule out any more acquisitions because her debt is all of revenue from rosenblatt and convex combined. The dividend is unsustainable going into economic slowdown.

she is out of her depth.
The BOD without a share between them are weak.

#the accounts are full of red flags .corporate governance is weak.

[maddox] 28/4/2022 16:40

Hi goldbutler,

Always good to see a new poster on the BB and indeed new to Advfn too.

Jarvis Investment Management will be holding those 12% of RBGP shares as a Custodian (a.k.a. Nominee) on-behalf of very many personal investors with Trading, ISAs or SIPP accounts. So, they can't vote the shares in that role and thus don't have to declare a holding position in an RNS.

The CEO Nichola Foulston does indeed believe that the shares are undervalued and I certainly wouldn't argue otherwise - Forward p/e 9.5, PEG 0.4 and a 6.28% yield. I don't think you need to see internal estimates of returns to come to that conclusion.

The case investments are held close to cash invested - and that tends to be the preferred treatment by personal investors.

She is seeking to encourage some more Financial Institutions to buy-in. This is probably the better means of driving a re-rating. In the meantime RBGP does present a good investment opportunity. I agree it would be good to have more access to Broker Research - however, Simon Thompson of Investors Chronicle has been very positive and his last stated share price target was 175p. Similarly Jack Brumby, Stockopedia's Analyst with a spt of 160p. House Broker Singers' research ain't for the likes of us unfortunately but Brokers Consensus spt is 157.5p.

Are you considering investing?

Regards Maddox

[goldbutler] 28/4/2022 15:04

If CEO thinks its undervalued then put the value on the sum of the parts including the cases taken over from MC , RBGP own cases , and the returns expected from Lionfish New Pot of money She must have used some internal management accounting and profit expectations.

Where are the BOD share buys ?

[goldbutler] 28/4/2022 14:58

If Jarvis investment management have a 12% stake since feb 2022 then why is there no RNS like other companies issue when 3% is met. And update the RBGP significant shareholders page on the website.