Totally Share Discussion Threads

[deltrotter] 20/12/2018 16:26

Agreed Savage - calling someone a shorter or asking them to sell up and move on when they make salient points is a nonsense.

Come on Graham, you are better than that.

It is a death spiral when sells beget more sells and never seems to attract buyers.

Not even the Board of Directors of the company think it is worth buying in.

Why is that????

[football] 20/12/2018 15:10

Graham it could just be some institution dumping all their shares because of brexit and they want to be out of the UK market before the New Year or brexit at the latest.
Problem is there’s no buyers so the price is getting hammered.

Maybe Bob the builder can put his hand down the back of the sofa and buy a few shares in the company as if the results were that good surely the management/board would have the competence to buy at these prices

[grahamwales] 20/12/2018 14:59

Wow big guns are out now, shorters all over this I see. Well let’s hope you all get screwed. Del I would suggest you sell up and eithe move on or buy back at a lower price if your so sure that this is going down. But stop with the death spiral I told you what that is ffs.

[deltrotter] 20/12/2018 14:55

Agreed Savagedstock

It is why I think this is now in a death spiral....

Who the heck would stump up cash or buy stock in this company now????

The Vocare acquisition was abysmal. What is to say that any further acquisitions will be any better.

Short term (ie. today) it does look as though Cenkos have a buyer and are soaking up the sells.....

[savagedstock] 20/12/2018 14:13

Re Post 6827

You've hit the nail on the head - the BOD have just over 3% of the company, so they will have little influence in what happens next - their credibility is shot after the buyback fiasco (and even if they do it now, it will just enable institutions to sell)....so they will be throwing the kitchen sink to show profits and positive cash flow...with wages rising and shortages starting, it will be a tough ask when contracts they have are fixed price.

The problem here is that there is no natural leader amongst the institutional shareholders, someone who is willing to take the time to call in the management and say enough is enough - demand board changes (not one of them has any credibility or competence), bring in proper non-execs who will run the business for the shareholders, and provide adequate working capital. This would not be tolerated in many other companies so why here? Because it is AIM? No - it's because no activist has come on board, so maybe that will be next.

My own (simplistic) reading is that the DD on the Vocare acquisition was abysmal, verging on kindergarten, driven by the cash burning a hole in their pocket. They totally miscalculated 1) the liabilities that needed squaring off 2) the working capital required to fund the business - this is why i have taken flak from the likes of Mr Wales - because i understand this business and this industry. 3) the depth of management needed to stabilise the business and improve regulatory ratings 4) the other businesses they bought were also duff (cf the amount of goodwill written off) and the cash they can generate is nowhere near to offset the drain from Vocare...one can go on. Bottom line i think is that they need a fund raise, so why not simply borrow against receivables? There is no shame in having overdrafts and loans all of which can preserve your cash position.

I genuinely hope that this reverses, or an activist steps in (who knows it could be the Harrisons - after all they can go to 33% without an MGO, so they can buy control of the company with the cash they received for selling it...genius) to get it above 20p.... At the very least you all deserve some honesty and transparency from the Board - as Mr Holt has hopefully now realised, making money in the NHS is not the same as charging inflated sums for changing a light bulb (aka facilities management)...

[spacedust] 20/12/2018 13:46

Maybe they think the share price will hit 8p and then do the buy back.....timr will tell

[deltrotter] 20/12/2018 13:10

Yup - I find it very strange.

I am not sure how they can defend their position here... could they seriously try to raise cash or make an investment case and put their chart in front of anyone???!!!!

And if an insti asked them how many shares the BoD hold and whether they truly believe in the company, how could they answer it???

Why should anyone else buy shares in the company???

If there is a positive, the Harrison brothers have not sold yet...

[football] 20/12/2018 12:17

Old stt has been bashing one of my other shares which has been taking a hammering as a big institution has been dumping all its shares and guess what? the directors now that the institutions of cleared selling hace piled in buying same this lot here does't do the same

[deltrotter] 20/12/2018 11:50

That is the only reason I can think why they would NOT buy shares now unless they think their cash position is not strong enough.

They have a presentation on their website where they say they will use cash to defend the share price if necessary. At that point the share price was mid 20's.

So, why not defend it now????

An acquisition coming up or the horrific balance sheet???

[football] 20/12/2018 11:41

This is where any good little company gets her directors to start doing some good PR by doing share buybacks and purchasing shares themself to get the message out there that there's nothing wrong!Unless they think this has further to fall and I don't want to waste their money

[deltrotter] 20/12/2018 10:51

Maybe just stop losses kicking in and because volume is so low that leads to a price drop and more stop losses.....

Surely to goodness this is oversold now though???

Where the heck are the buyers????

[football] 20/12/2018 10:45

still someome dumping BIG time here!!!!!!!!!!!



and why???




what DO they know that we don't???

[deltrotter] 20/12/2018 09:16

But that point could be a lot lower than here Graham, and even then I would not be tempted to top up.

[grahamwales] 20/12/2018 09:00

Dell it’s quite clear they are not looking to take on further companies at this stage hence the comment in the accounts of consolidation.

[deltrotter] 20/12/2018 08:55

And, if I do sell, that will take this into the single figures unless a buyer comes in.

I am staying put but the picture here is NOT good Graham - no matter how much you try to gloss over it....

[deltrotter] 20/12/2018 08:53

If they are still looking at acquisitions Graham, how do they pay for them?

[grahamwales] 20/12/2018 08:51

Del

A so called death spiral is where a company has loan notes and the holder can convert at a lower price than the share price over a given period. The fact is TLY are cash positive and will be until they become profitable I see no reason to either carry out a placing (as you have recently suggested) or issue loan notes. The company are debt free so stop scaremongering. If you have sold then sit on the sidelines and wait for your re entry price.

[deltrotter] 19/12/2018 21:11

Are we in a death spiral?

[football] 19/12/2018 20:49

Wages rising and will that cuck up totallys business plan?

[sikhthetech] 19/12/2018 20:16

Richard Murray: ‘Relax migration rules to solve NHS workforce crisis’


“Instead,” he says, “it’s important because it does have materially more money behind it than anything we’ve seen in the last decade – and because it represents a chance to go forward on reform: on integrated care, built around the population’s health needs.”

In his view the two biggest health policy failures are successive governments “kicking the can down the road” on funding social care and the abysmal lack of workforce planning that has left the NHS with 103,000 vacancies. Only the government can fix both, and it needs to take bold, determined and imaginative action on both, he says: “The NHS can only do so much itself.”

The long-term plan needs to succeed if we are to transform how patients are cared for, says Murray. But he is worried that its chances of doing so risk being undermined by three key challenges, over which the NHS has no control.

[kendonagasaki] 19/12/2018 19:16

TLY IN ADMINISTRATION.By the end of the week.Oh dear?

[spacedust] 19/12/2018 17:26

It comes from looking at the share price pattern that seems to be diving non stop. I've called 16p all the way from 25p plus. Now I am saying with the absence of news 12p then 8p.