Theworks.co.uk Share Discussion Threads

[lyceeuk] 03/10/2023 13:18

sold out this morning with a nice 27% profit do not like uncertainty about dividend and do not agree with buybacks

[davidosh] 03/10/2023 12:03

There will be a very significant number that do not vote so over 50% in reality may be just 35% of shareholders

[strikehot] 03/10/2023 11:35

Chinahere thanks for the post, the list of major holders is still less than the 50% required to overturn the dividend payment, as I said not a forgone conclusion.
I would of thought the majority of individual holders would of voted for the dividend, my 220,000 votes did, and I think I actually voted on II before Kelso showed up.

[davidosh] 03/10/2023 10:42

Question....Did anyone attend the Agm last year in Birmingham at 9am in the morning?

The Agm this year is tomorrow at the same time in Birmingham.

That clearly means they do not want anyone there or expect shareholders to book overnight hotel accommodation. Very shareholder unfriendly as I like to meet all the board in the companies I invest in.

[s34icknote] 03/10/2023 10:36

Looking good in a negative market

[chinahere] 03/10/2023 09:58

From the Annual Report and recent Kelso RNS:

Schroders plc 19.27%
Jupiter Fund Management 3.90%
Hudson Management Limited 9.30%
Graeme Coulthard 6.48%
Downing Strategic Micro-Cap Investment Trust 4.40%
Kelso Group Holdings plc 4.3%

There were votes of approximately 33% of the shares against the dividend so yes I guess there must be 'a group'.

[kaos3] 03/10/2023 09:03

Can we conclude that we have an invisible.shareholders hand in the background? Fingers being large shareholders cooperating as they do on one hand

[strikehot] 03/10/2023 08:16

RNS 18/11/2022
Correction to Half-year trading update for the 26 weeks ended 30 October 2022

The trading update issued by the Group on 11 November 2022 stated that the Group's net cash balance at the end of H1 FY23 was £11.0m. The gross cash balance was £11.0m, however, taking into account a £4.0m drawing on the Group's RCF (revolving credit facility), the net cash balance at the Period end was £7.0m, which reflects the build of stock prior to the peak trading season.

The Group's financial position remains strong with net cash of £7.0m(4) at the Period end. This cash position benefitted from the timing of the Period end, as approximately £5.0m of October payments were not due until 31 October, the first day of H2 FY23, albeit the cash position also fully reflects the build of stock prior to the peak trading season.
Result 2 million cash 01/11/2022 as they had moved half year end date a day earlier to 30/10/2022

[finkie] 03/10/2023 07:03

How do you know about the last para?

[strikehot] 02/10/2023 21:46

Kelso still need nearly 13%,8 million votes to get their way, so not a foregone conclusion.
Personally believe the dividend should be paid this year, as long term holders may have made plans for the cash in November.
Also what is not to say Kelso won’t be selling there 2,660,000 shares in the buy back to make a quick profit, let them put their case for buy backs in 2024 and not 1 month after becoming a holder.
Really thought the company would become more professional with the half wit financial director “I use that term loosely” leaving, this is the chap that states 7 million cash, forgets about 4 million loan, then decides it’s actually 2 million cash all within 2 days.

[finkie] 02/10/2023 12:27

Wow so they can just cancel this so close to ex divi day?!

[davidosh] 02/10/2023 12:13

I suspect at this share price on a very low p/e the major holders feel buy backs give them a better return than receiving a dividend. Although nothing to stop them buying more shares with the dividend. That way shareholders have the choice.

[harry_david] 02/10/2023 11:34

The proposed dividend was going to cost about £1 million. Not hard to guess what a one million pound buy order will do to the share price.

[crumppot] 02/10/2023 10:33

i would prefer a dividend

[lyceeuk] 02/10/2023 10:25

read rns voted out???

[crumppot] 02/10/2023 10:21

They go ex dividend this Friday

[lyceeuk] 02/10/2023 10:17

no divi ???

[finkie] 02/10/2023 07:58

No colouring books just 5% divi!!!

[eigthwonder] 02/10/2023 06:51

Do they give out free colouring books?

[crumppot] 02/10/2023 06:17

Anybody going?

[simmsc] 01/10/2023 23:42

AGM on Wednesday for Works.

[s34icknote] 27/9/2023 11:19

Yep good value they see it too !

[simmsc] 27/9/2023 09:16

https://www.cityam.com/activist-investor-kelso-takes-stake-in-undervalued-retailer-the-works/Good to have Kelso on board. Experienced activist investor.

[lyceeuk] 27/9/2023 09:03

kelso STILL buying