Theworks.co.uk Share Discussion Threads

[crumppot] 06/10/2023 13:23

Here we go.

[s34icknote] 06/10/2023 12:23

Nice to get in the forties !

[chinahere] 04/10/2023 18:55

I like this company - the turnover is big and I don't think it is unrealistic to look for current market cap. returns yearly in a few years time.

[harry_david] 04/10/2023 18:50

Several committed buyers, the share price is establishing a new higher base. Hopefully 50p.

[finkie] 04/10/2023 17:47

Hi I’ve just sold a small trading portion bought at 30p 62k you will see it on trades 39.28p, disappointment at the last min cancel of the divi for capital gain focused activists. I still hold a few in Isa and sipp so let’s see where they go from here.

[havinthelasttoast] 04/10/2023 12:31

We will miss ya. Sell more pls I want more at 38

Thanks

[strikehot] 04/10/2023 11:53

Just sold the first 50,000 of my holding

[strikehot] 04/10/2023 11:32

And myself, but as they state could be 6 month before they decide

[havinthelasttoast] 04/10/2023 11:31

Ive read the rns properly
Now. It seems they will get the buy back but first they will consult with large shareholders.

[crumppot] 04/10/2023 11:29

Obviously those that voted against want share buybacks, so the Board need to get on with it. Personally i wanted a dividend but now that is cancelled we need to see action!

[strikehot] 04/10/2023 11:28

They have no debt to pay off, what shows as debt is actually lease costs.
Poor turn out for the vote just over 50%, can see this going back low 30s for the time being, hopefully a good 2h and cracking Christmas, get momentum back in the new year.

[havinthelasttoast] 04/10/2023 11:16

They would need it to raise money if they got into difficulty.

However it can also be used by bad actors.

Anyway that’s the div cancelled. Wonder will they pay off debt or do the buy back.

[chinahere] 04/10/2023 11:02

We must have some active shareholders here because they also voted down the disapplication of pre-emption rights.

"What is meant by pre-emption rights?
A preemptive right is a right of existing shareholders in a corporation to purchase newly issued stock before it is offered to others. The right is meant to protect current shareholders from dilution in value or control."

Makes sense really as why would they need this?

[finkie] 03/10/2023 19:03

Nice! Especially as 250k went through at 39.75p today

[havinthelasttoast] 03/10/2023 15:54

Won’t take much to move this.

I snapped all the liquidity around 38 this morning. Only 145k shares. Imagine 2.5m being bought up if buy back goes ahead. Could be a nice little squeeze

[finkie] 03/10/2023 15:34

But well done on a good gain in short order

[finkie] 03/10/2023 14:20

I would normally do the same in terms of profit taking but with 5% coming and this activist shareholder I can see a further move up to 50p in short order….we will see

[lyceeuk] 03/10/2023 14:18

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 13:03

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 12:35

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 11:42

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 11:36

Looking good in a negative market

[chinahere] 03/10/2023 10:58

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 10:03

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 09:16

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