Totally Share Discussion Threads

[grahamwales] 25/10/2017 18:17

Cumbrian

I keep topping up no where near your volume yet, but making headway. Not sure if you have seen vocare accounts for 2015/16 but made a significant profit. Since then revenues have increased substantially so wouldn't surprise me if they have made profits yet again for 2017.

Must be a reason directors are buying small quantities at the moment perhaps to build up their holding without alerting the market and pushing the price up to much.

Either way will keep buying as the months go on.

[sikhthetech] 25/10/2017 17:19

graham, true... maybe get some more TR-1s over the next few days...

[grahamwales] 25/10/2017 17:12

May even see some of the institutions buying to maintain their %.

[sikhthetech] 25/10/2017 16:43

Cumbrian.... expecting PR and guidance soon....

The GM was on Mon, so we have the adjusted holdings cause of the placing... Good to see Wendy buying some, albeit 4000 shares...

Now the acquisition is complete hopefully we'll see some more director buying???

[cumbrian2] 25/10/2017 15:59

Also added a further 18,274. Cant believe that Bob has bought a dud in Vocare and can surely turn such a high turnover into generating a ''reasonable'' EBITDA next year? They also still have a good cash pile for further earnings enhancing acquisitions although may want to digest this one first. All my instincts tell me this is too cheap but some positive news would be useful. Own 160K here and now in my top four holdings! Come on Bob - buy a few more for yourself!!

[sikhthetech] 25/10/2017 15:54

I've added a few as well...

[grahamwales] 24/10/2017 20:01

Vocare were due to declare results in December this year, so now they have been taken over they won’t need to.

Think about it the brothers were never going to make much money from Vocare. They profits had to be donated to the communities. So the only way they were ever going to be millionaires was to sell the company.

TLY would have sight of the accounts under due diligence and no doubt the only company to approach Vocare.

In 2016 Vocare made a profit after tax of over £400k on lower revenues than 2017.

If they know profits are good the million pound bonus is already in the bank and their shares will be worth millions more.

[sikhthetech] 24/10/2017 19:16

As a result of the RTO, the accounting reference date is changing to March...

"Conditional on completion of the Acquisition, the Group will change its accounting reference date and financial year-end from 31 December to 31 March. This change will align the Group’s accounting reference period with that of Vocare and the NHS and will allow comparability of Group reporting across future
periods. As a result of this change the Group’s next three financial reporting events will be as follows:
● publication of unaudited interim accounts for the six months ended 31 December 2017 by
31 March 2018. This financial information will include the impact of the Acquisition in the period from
the date of Completion;
● publication of audited accounts for the 15 month period to 31 March 2018 by 30 September 2018.
This financial information will include the impact of the Acquisition in the period from the date of
Completion; and
● publication of unaudited interim accounts for the six months ended 30 September 2018 by 31 December 2018."

[grahamwales] 24/10/2017 19:01

As Vocare don’t have to declare 2017 accounts now and TLY have obviously seen them Im beginning to think that they are showing a healthy profit. They would have not been able to show this in the accounts and would have had to give a certain amount to the community. So the brothers sell off the company making a cool £2.5 million plus the £1 million bonus next year and they have not broken any rules.

[sikhthetech] 24/10/2017 18:45

"There is no suggestion of wrongdoing at Vocare which started life as a community benefit society, a type of company where earnings are given back to the local area."

[grahamwales] 24/10/2017 18:29

Ah I can see what he's written now what a dipstick of course they don't have to re tender jeez.

Savage if you want in best do it now imo you'll be getting them cheaper than Bob and lower than the placing price. This isn't a traders share

[grahamwales] 24/10/2017 17:20

They had a couple of bad reviews which I was aware of but they certainly don't have to re tender lol. Did he say that?

They had 6 months to sort them out which is now up so I'm guessing they have already had a re visit and results should be out soon

[grahamwales] 24/10/2017 17:15

Showing £77 million revenue for end of March 2017.

[grahamwales] 24/10/2017 17:13

2016 accounts show a profit of £460k on s turnover of £61 million

[sikhthetech] 24/10/2017 17:13

savage,

as you're familiar with Vocare

Can you please let us know:
What are the issues Vocare are meant to be dealing with?

Why would Vocare need to change their Memo & Articless and re tender for all the contracts?..

[grahamwales] 24/10/2017 17:10

Savage

Have you seen figures for 2017 accounts didn't know they were out yet?

[grahamwales] 24/10/2017 17:04

Savage

Cut out the wastage not that hard actually. Brothers probably been running it like a hobby.

I'm sure they been hiving off the profits as well as they had no one to answer to.

You'll be surprised at the savings that can be made.

[grahamwales] 24/10/2017 17:01

Thanks for that only been in a couple of weeks but good to know. They have a big incentive £1 million to make sure they sort the problems out. Plus their shares of course.

[savagedstock] 24/10/2017 16:56

graham
but they certainly showed a LOSS...LOL...i know a lot about it thanks, and am very familiar with the issues vocare are meant to be dealing with....

so...if you buy a not for profit company, what are the hurdles you have to go through the change the Mem & Arts, re tender for all the contracts etc, as presumably TLY are a for profits company (though they have never made any).....not easy to change a CIC reliant heavily on handouts from the public sector....

[sikhthetech] 24/10/2017 16:27

graham,
Bob said that the reason the process took so long was because they wanted to ensure the issues raised by the CQC were being addressed.... and it was only after they were satisfied that was the case that they completed DD.. Otherwise they would have withdrawn from the RTO...

[grahamwales] 24/10/2017 16:22

Savage

If you need help let us know, might be worth reading up on some announcements for yourself though.

Vocare were a not for profits organisation. Perhaps the reason they did not show a profit lol

[sikhthetech] 24/10/2017 12:11

So Vocare directors are locked in for 12 months and can only sell in an orderly manner for a further 12 months...

Doesn't sound like TLY directors were desperate...more like they were prudent..

[sikhthetech] 24/10/2017 12:07

savage,
Profile created a month ago and you've an expert.. :-)


All that info is normally in the Admission Document - that's what it's there for, isn't it?

Oh look there it is - have a read...

"12. LOCK-IN AND ORDERLY MARKET ARRANGEMENTS
The Vendors have undertaken to the Company, Allenby Capital and Cenkos Securities that, subject to certain
limited exceptions, they will not dispose of any interest they hold in the Consideration Shares for a period
of 12 months following Admission. The Vendors have undertaken that, for a further period of 12 months
thereafter, they shall be bound by orderly market restrictions in respect of their Consideration Shares."

[savagedstock] 24/10/2017 11:55

Well they weren't going to say no were they! Selling a loss making business for £11 million, and the incentive is pathetic at only 8.5% of the total consideration...nothing to bother the Directors of Vocare about....Nothing in the Announcement to say how long the existing management is tied in for etc...only they get £1M if they achieve certain targets. What''s the lock up by the way? If you really want the business turned around and you want the Directors on Board, pay them less upfront and more success fee. Someone in TLY was absolutely desperate to do a deal...and the price action is telling you that....Bahamas for Christmas anyone?