Rbg Share Discussion Threads

[master rsi] 31/7/2023 11:19

The good news is now the way to be after the results with the Kitchen sink added is always the bottom of bad news.

[churchharbour] 31/7/2023 10:17

Interesting RNS - the addition to the board is the largest shareholder ( locked in for 5 years ) the largest fee earner ( looks like there's a Simon Cowell connection ) with a confirmed long term commitment to restore Group fortunes relying on 2 core legal firms and one M & A set up -- every incentive for him to get it right and for all shareholders to benefit !!

[adeg] 31/7/2023 10:01

A salary of £500k per year must also have been agreed with the bank. If he can bring the shareprice back above 50p it will be worth every penny.

[simonsmithiv] 31/7/2023 09:45

Someone's grumpy this morning, red ticking any positive posts.

[simonsmithiv] 31/7/2023 09:27

Big gap up to 23.25p will be filled at some point imho.


free stock charts from uk.advfn.com

[qs99] 31/7/2023 08:34

This is a good move IMO. He is a v driven & credible businessman again IMO and has made some big statements in that RNS which his reputational ego will want to deliver on. Won't be overnight, but I may put a few more away at these levels on a high risk basis....DYOR

[lennonsalive] 31/7/2023 07:57

People need to take responsibility for their own actions investing and not blame Simon Thompson. Although he is dire with his stock picks

[georgev59] 31/7/2023 07:10

There's your answer. Any more bright questions?

[shep22] 30/7/2023 14:52

Where is Ian Rosenblatt in all of this? Why is he not on the board?

[clive7878] 29/7/2023 23:09

The figures that matter is the profit or loss without exceptionals the year after, stating a normal year going forward so the share price - unless the Company lose clients due to lack of confidence - should not fall when this years results are known because it should now all be factored in with the price. Now we should have a clearer picture of what the new results should be for this year and next year. If the CEO can get the business on an even keel now, we could in fact see some kind of recovery, but the possible rise in share price will now be a quick fix job. The Board has made serious mistakes and lets hope that the Current Board has learnt from their mistakes.
One should see the share price flatten out next week - little downward or upward movement. For a period to come.
Simon Thompson really should write state the pros and cons about a stock, not just the pros, as when one does ones own research and one then monitors what he has recommended one finds the stock has not risen at all. He is at it again with HVO.

[se81] 29/7/2023 20:16

No problem Tom, there’s no way your expressions of anything financial reporting related are in danger of being mistaken as “professional”

I’m guessing I won’t find the name Tom Trudgian on the ICAEW register of chartered accountants ;)

Anyway credit where it’s due, the shorts have been bang on the money

[shep22] 29/7/2023 17:55

This article is very relevant as well:
hxxps://www.lawgazette.co.uk/law/shockwaves-as-supreme-court-rules-litigation-funding-deals-unenforceable/5116775.article

[quepassa] 29/7/2023 09:04

An article dated yesterday, 28th. July in The Law Society Gazette.

-One can read the article.

-One can read the comments on the article.


hXXps://www.lawgazette.co.uk/news/listed-firm-writes-off-133m-investments-as-shares-nosedive/5116805.article


all imo. dyor.
qp

[quepassa] 29/7/2023 08:43

The next results are "expected" in September.

With all the shenanigans going on and recent changes in personnel, I won't be holding my breath.

all imo. dyor.
qp

[tomtrudgian] 29/7/2023 05:26

Sorry se81. I certainly could have expressed myself in a professional more lengthy way.
Or shorter, eg

“SELL NOW BUY IN A YEAR”.

Which would have been better understood?

[se81] 28/7/2023 15:49

"RBG have written off 100% of the remaining litigation assets to the balance sheet, thereby not reducing reported year end 2023 profit. Standard kitchen-sink practice for new management. Some cases, one in particular we are told, may achieve “up to £10m”."

Probably need to have a think about your double entries? Weren't you the chartered accountant and auditor?

Don't you mean they'll write down the value of the "assets" in the balance sheet (cr litigation asset) make equivalent debit to the P&L (dr P&L) hence reducing the reported/statutory profit (/turning it into a loss)?

As you're essentially undoing the previous capitalisation of the "assets" (cr cash dr litigation asset) and any subsequent fair value write ups (cr unrealised gain dr litigation asset), the effect is non cash (though lets not forget this cash did leave the building and is a big contributor to the net debt situation but thats known and now in the past)

An adjusted operating profit metric (non statutory) will give us an idea of the profitability of the continuing business which as you might imagine could be much more important....

[bigbaggy] 28/7/2023 14:54

My hunch here: belt and braces on the bad news. Pushes share price to a new low. Then Take Private at what looks like a healthy premium. 30p per share maybe ? Pure guesswork but we have seen this kind of thing before.

[tomtrudgian] 28/7/2023 14:01

You are correct that there is no logical reason for the already announced write-offs reducing the share price when the 23 accounts are audited. My view remains that it inevitably will.

RBG have written off 100% of the remaining litigation assets to the balance sheet, thereby not reducing reported year end 2023 profit. Standard kitchen-sink practice for new management. Some cases, one in particular we are told, may achieve “up to £10m”.

You are doubtless correct in saying that it cannot get worse than it is. But only with support from the fee earners and bank. The remaining biggest assets.

BUY, but only after the 23 results in March 24.

[se81] 28/7/2023 13:55

People still talking about NF is madness- she's become a laughing stock- can't see how she will ever work again unless she buys herself into something else. Some of her overly promotional stuff from RBG will age so badly

Lets not forget that this non cash, statutory loss that RBG will incur this year has her fingerprints all over it- just, like as Elsa mentioned earlier, the fair value gains which had no cash impact

By the time the 2023 accounts are published, no one will give a sh*t what they say because you'll already know re any improvements/deterioration in cash-flow, breach/non breach of covenants etc

Aside from the well discussed, quite obviously perilous fundamentals (hence the share price & rating), there is still what looks like an insti seller offloading in auction (240k @17.5) as we speak

[adeg] 28/7/2023 12:47

Why whould the write offs have any further impact on the shareprice just becasue they are written into the 2023 year end accounts? We know that information already and it cannot get any worse than it already has beacuse they have written off 100% of the assets.

The loss is a loss but it has been fully absorbed into the current shareprice becuase it is public information.

There is this wonderful piece of reseach called efficient market hypothesis and how information impacts shareprices may be you should do some reading up on how markets work.

[tomtrudgian] 28/7/2023 11:55

Not most Clive, but very probably all of the bad news has been announced, but is not remotely out of the way. Why? Because all these asset write-offs inevitably detract from the year-end 23 accounts.

They can be, and will be, treated as exceptional items and so not debited to 2023 profits but to the 2023 balance sheet. It will doubtless yet again be called a non-cash loss, but a loss is a loss. Even if the audited FY 23 accounts show a profit, which they may, the share price may fall when announced in March 24.

Accounts can never show the biggest assets, which for RBG are the fee earners, bank support and reputation. RBG needs to retain all three. Are any profitable fee earners not thinking of walking?

Sell now and consider buying back after April 24. Along with me and NF?

[clive7878] 28/7/2023 10:13

Now most of the bad news is out of the way, the CEO can now get back to putting the business on an even keel. Investors are now viewing RBGP as a recovery stock at 18p, and we could in time see a slow rise eventually in share price. Could be time for one to have a small punt on, as investors are a bit more now enlightened.
A pe of 4 can't be too bad, and if it was not for paying the interest on the debt it would be even lower.
Reducing debt must be a priority and getting people's confidence back..

[master rsi] 28/7/2023 08:49

BUYS are taken over this morning and naturally, the share price is showing it

[quepassa] 28/7/2023 08:03

useful information is always good.

providing it is reliable.


your last sentence is interesting


all imo. dyor.
qp