Shaft Sink Share Discussion Threads

[sdavey] 23/11/2012 13:02

The real question to have an answer to is why did they not hold any shares prior to November 2012? Just for the record I am a holder in fact with more than the CFO !.....I just find this a little concerning> Note to self ...Check the register of shareholders prior to buying!!!

[hectorp] 23/11/2012 12:52

It looks like a small signal of support from the 10K shares man for the other director who to be fair bought a significant number , if not a shedload. I am happy with that.

[wylecoyote] 23/11/2012 12:50

ukinvestor, yes you could right - a rather cynical view though. However, the purchases as a whole are not a strong enough statement in my opinion. They get paid very well and some directors got a very generous IPO bonus(which they clearly haven't decided to invest here). It seems like a token gesture rather than a conviction. Think about it, if the yield will be maintained, i would be inclined to invest more.. What is it at the moment? 10-15%?

[sdavey] 23/11/2012 12:50

UKinvestor

Lets hope the management are not as stupid as you suggest because the effect of the fall in share price on confidence of existing and more importantly future customers together with the market confidence re solvency/liquidity of the business is I would hope more of an issue for them to focus on than the opportunity to buy 33k of shares.

[ukinvestor220] 23/11/2012 12:00

ukinvestor220 - 19 Oct 2012 - 12:00:43 - 1583 of 1677
have you not considered mngmnt are happy to see price down with negative rns so they can fill their own boots at some point

.......
I would have thought the finance guy could have afforded a bit more than £3,850

£30K off CEO is more of a statement.

[hectorp] 23/11/2012 10:43

Mr Davidov's purchase was the more relevant ( and the greater). Sometimes its right to follow a director's buy, in this case, maybe. HE thinks so, and he probably believes the floor is in for the price now.
yes philjeans, the chart has broken above the 3-month resistance line. The NEXT resistance line looks to me to be around 70p.
:-)
H.

[philjeans] 23/11/2012 10:30

Great time to BUY - just look at that freakin chart !!

[petersinthemarket] 23/11/2012 10:21

40p!
I can hardly breath, I'm so excited

[v11slr] 23/11/2012 07:56

Better than the other way round at least. :-)

[sdavey] 23/11/2012 07:25

CFO held no shares in the company until this month......and now owns a whopping 10,000. Good news indeed !

[wylecoyote] 22/11/2012 18:33

he hasn't staked his reputation on it....

[sdavey] 22/11/2012 11:35

The Cheif Executive held no shares in the company!!!........do I assume he is new to the company?

[blackbear] 22/11/2012 11:31

Nice to see the directors buying a few k worth.

[noirua] 20/11/2012 08:29

Seem to be doing well and ignoring the background legal battle to come. Has to be a must for that small punt on the court outcome.

[masurenguy] 20/11/2012 07:50

More additional contract work !

RNS Number : 5291R
Shaft Sinkers Holdings Plc
20 November 2012

Additional Work Awarded - Afplats

Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, is pleased to announce that it has been awarded additional work by Afplats on its existing Leeuwkop project. The scope of work includes the continuation of sinking activities on the main shaft from a depth of 325 metres to 700 metres. The additional work commences immediately, is scheduled to be completed in May 2013, and has a total value of £7m.

The award of the contract has been phased in stages. The Company completed the pre-sink and mobilisation work and commenced sinking activities earlier this year. The intended final depth of the
main shaft is 1,561 metres. This is a "Rates" contract. The additional work is in line with management's expectations for new work, and contract extensions, to be secured during the 2012 financial year.

Alon Davidov, Chief Executive, said: "This project continues to progress well and we are pleased with the additional work award. We are focussed on ensuring our customers' expectations are met and we look forward to working with Afplats to deliver on this, as well as future expansions of their projects."

[muckshifter] 17/11/2012 13:00

Would be nice if the bickering could be abandoned.

There was plenty to interest everyone in the IMS and perhaps we could concentrate on that!

Shft seems to me to be steadily ticking the "black" boxes, unfortunately.

They still have several poorly performing contracts, which seem to be "rates" based jobs, rather than cost plus or target cost. Those contracts all seem to be just about in their final year, which means perhaps that there will be a final burst of losses - finishing jobs is usually where the pain is worst in my experience, followed by the relief the following year that losses have stopped (with any luck).
Eurochem looks distinctly painful. At best, I reckon it might be a year or so before they get the remaining £15m if they win, and if they lose we don't know how bad it might be, but it could be terminal. Eurochem, would be aware of that possible outcome though, so if they have a strong case they would probably look to settle just within shft's financial capability.
Looking at the workload, next year looks light. In most civils work, reducing turnover is painful in terms of cashflow, although I don't know in this case. With jobs of a few years duration you would expect visibility of turnover further out to be poor - say in three years from now, but not for next year, imho.
Finally, from the IMS and, iirc, also the last results, the unpaid "claims" section is deteriorating, ie. getting bigger. Again, I'm not saying it's the case here, but increasing "wip" by claims value is often a way of hiding bad news. For example, Birse, years ago, were effectively bankrupt, but hid that fact by having £45m (iirc) of claims in the accounts as work in progress, and making their subbies (which represented most of their t/o) accept a months delay to payment, giving them effectively two months of someone elses cash in their bank. When eventually Birse recovered, they wrote off huge chunks of their claims, and changed the company ethos very publicly from an aggressive nasty contractor to a client's "lifelong friend". Jarvis was very similar in terms of "claims" held as wip, so it is not particularly unusual.

Hoping that we can stick to debate rather than slanging matches, regards to all.

[simonh88] 17/11/2012 10:25

No I haven't got any investment in SHFT, never have, it was too risky back in the summer when it first came on my radar.

The lack of contract wins, cash flow issues and the uncertainty over the Eurochem business which will haunt this share until it is resolved one way or another, means this is still way too risky for me.

The upside is there, but it's a huge, huge gamble and the potential is there, but equally lack or contract wins and Eurochem in particular could spell disaster.

I agree with Peter in the market, 40p is now the resistance level, but presently the trend is still downwards I'm afraid to say. The quicker they settle the Eurchem business the better for all, it's not going to attract many buyers until it's resolved.

[hectorp] 16/11/2012 22:46

simon88's posts are ONLY attacks on me and not posts about SHFT at all- a share incidentally that he probably does not hold . My only point about him is that he is clearly seriously deranged.

Best to ignore him as I do.
H.

[hectorp] 16/11/2012 22:43

SHFT seems like its gonna sidetrack for a while, until there is resolution of the Eurochem situation.

[petersinthemarket] 16/11/2012 17:03

Looks like the hoped-for 40 support has turned into a firm 40 resistance.
Cant see where we go from here, at least in the near term.
Need some seriously good news to shake this one out of its slumber.
Oh well, have a good weekend everyone and we start again on monday.

[simonh88] 15/11/2012 19:42

It's a fair point coco, just don't think crooks like Hectorp should be allowed to post on BBs.