Strix Share Discussion Threads

[typo56] 27/10/2023 09:01

Sorry GraniteHold, I hadn't seen your post when I posted above. When did they state 2.25x? I missed that.

[typo56] 27/10/2023 08:59

If 2.5x was a 'relaxation' in Sept 2023 what was it before and why not say?

On 21 Sept the interims stated, "This represents a net debt/adjusted EBITDA ratio (calculated on a trailing twelve-month basis) of 2.66x which complies with the Company's debt covenant threshold of 2.75 times."

It gives the impression lenders are turning the screws and company isn't being entirely straight with shareholders?

[granitehold] 27/10/2023 08:57

Typo56, the ratio was actually at 2.25x. They’ve relaxed to 2.5x til the end of the year. This aligns with them a) possibly not meeting the recovery / growth stated in last announcement and b) “retirement fund” related cash out……

[granitehold] 27/10/2023 08:53

This is a good move (likely a BOD decision than a CFO one), however the CEO bears the larger responsibility for performance so should also be considering retirement. Heartened by the BoD stepping in to oversee the CFO role - maybe having grown ups in the room rather than looking in from outside will bring some much needed control. Remain concerned about the short to medium term plan (growth numbers stated do not seem bedded in reality) but the negotiations with the banks reported today give hope that firm hand on the tiller is starting

[dr biotech] 27/10/2023 08:48

Perhaps the price of the renegotiation was the head of the CFO.

[typo56] 27/10/2023 08:37

I can't make out this claim of covenant relaxation to 2.5x. When did it go lower than 2.5x?

At the 30 June interims it was stated as being 2.75x. At the y/e 2022 it was 3.5x. It seems to be getting changed a lot.

Is 2.75x to 2.5x regarded as a 'relaxation'?

Perhaps it's time for the CFO to go!

Or am I missing something?

[weaverbeever] 27/10/2023 08:17

Actually more likely the board said jump before you are pushed.

[weaverbeever] 27/10/2023 08:15

As I rrad this. The CFO is stressed to he'll and back so quit because they were about to breach debt covenant. And she is the who said ok to borrow 35 million to buy a hot water tap. I have a lot of shares here so really really want them to turn this around asap

[granitehold] 10/10/2023 19:26

Short term, I’m just not convinced by the market uplift they are projecting to have positive impact on sales, which when coupled with the needed investment in new products will impact those service ratios. It could be that the new products will be stalled but this kicks the can down the road on those 2026 numbers. New and honest direction is required to have a clear view of the future. I live in hope I’m wrong, but the performance of the CEO/CFO/BoD to date doesn’t inspire confidence. It’s a shame cos the fundamentals are so good, just needs a firm hand in the tiller.

[deanowls] 10/10/2023 16:51

On what do you base that Granite?

Personally I expect them to now do what they say, there can not be more distractions and they should be under promising and over delivering now.

The takeover will prove to be astute over time and I believe that as the debt starts reducing the share price will react accordingly.

But I am an optimist.

[granitehold] 10/10/2023 13:28

I hope so - I think that's the only bump we're going to see whilst the current CEO / BoD are in place - and for a lot of us the only chance to get anything from this. I think the market not entirely convinced by the recent update to market - and I suspect more bad news to come before or at end Q3.

[chrisdgb] 10/10/2023 09:57

Suspect will become a bid target.......

[catabrit] 10/10/2023 09:55

Just adding a meaningless comment to keep tabs on the thread. Think this is potentially quite interesting and it's on the watchlist.

[epo001] 06/10/2023 12:29

Will probably fall again when the bottom feeders finish. Unless there is a takeover perhaps 5 years before we get a sniff of 250-300ish?

[pottsypotts] 06/10/2023 11:19

Some chunky buys going through

[glavey] 06/10/2023 03:03

The Seared Muppet Sir, and how would you like that done?

[wad collector] 05/10/2023 16:38

That is an interesting rise; a dusk raid?

Putting it in context , remember it was 370p two years ago.

[quattro44] 05/10/2023 16:37

Maybe it’s Quooker?!

[pottsypotts] 05/10/2023 16:36

Well it's a long time since any of my shares in the current dire market went up on the day by a good 20 percent, much appreciated

[chrisdgb] 05/10/2023 16:22

There is a value fund in the Netherlands that seems to be building a position........

[gripfit] 05/10/2023 16:21

Short closing or bid alert?

[babbler] 05/10/2023 16:05

586k shares in 2 trades at 56 and 56.25

[babbler] 05/10/2023 16:01

2 massive trades this morning

[pottsypotts] 05/10/2023 15:51

Something a foot suddenly up 17 percent on the day, anyone seen any news