Tp Icap Share Discussion Threads

[ppreston1] 11/5/2022 06:47

As immortalised in the words of Mark Twain..."the reports of my death are greatly exaggerated". Lol.

[ppreston1] 11/5/2022 06:37

Trading update not too shabby at all! Let's see what the market makes of it. Should be some good room for upside considering the recent share price weakness.

[dhoult12] 06/5/2022 18:25

Ah the classic done such a great job we had to sack him routine.

Don't think the market is buying it

[bluemango] 06/5/2022 17:21

I wasn't even aware of this reshuffle with Ruskin who apparently 'successfully' oversaw the integration of LiquidNet, deciding to 'step away' from the company.

Press release on 28th April.

[kemche] 06/5/2022 14:27

J7, are you buying more CHLL?

[j777j] 06/5/2022 14:13

Target price 0p

[j777j] 06/5/2022 11:49

- A TP ICAP Plc unit is accused of being "a spider in the web" of controversial Cum-Ex trading by German prosecutors,

[daemonfunds] 05/5/2022 21:37

the raids in germany by BaFin (e.g. of DB) - could they be related to the cum-ex?

[bluemango] 05/5/2022 18:31

Yikes, gotta feel for those still in.

I was out a week or two ago (far too late to act, but could have been worse)

[elsa7878] 05/5/2022 18:26

Cum-ex. The elephant in the room.

[j777j] 04/5/2022 12:07

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!

[bluemango] 14/4/2022 07:55

Liontrust reported holding increase on Monday. Gone above 10%.

[topvest] 06/4/2022 09:18

I have sold out my small holding today. 10 reasons are as follows:
1. Technological obsolescence headwind.
2. Poor management since Terry Smith exited.
3. Too many legal claims and costs.
4. Liquidnet acquisition was poorly handled and too much equity was "given away".
5. Exceptional items are enormous - slides indicate yet another c£150m in 2022.
6. Data and analytics transformation too slow.
7. Business is really loss making after the "every year" exceptionals are added back. ROCE are much diminished from the glory days.
8. Constant downgrades.
9. Clear risk that the dividend is reduced again.
10. Liquidnet doesn't seem to be performing well at all.
The positive is that this gets re-rated as a data and analytics company, but that will probably take a few years in my view. Will keep a watch. Good luck to those that remain!

[jezza123] 01/4/2022 09:32

that 200 SMA trend line is just sitting there waiting to be breached....

[dhoult12] 01/4/2022 07:45

Amazing how they have material amounts of "exceptional" costs every year though isnt it... Almost like they are whacking in whatever they can get away with,every year.

Legal is my favourite. They have been sued by or are suing someone every year. It's part of this buisness. But nope all exceptional

[rcturner2] 01/4/2022 06:48

Last time I looked at the results they do to be fair explain in detail what are the so called exceptional items that are excluded. So it is very easy to check and decide for yourself whether you think the management are right or not to treat the items in this way.

[dhoult12] 01/4/2022 06:27

Creditcrunchies, agreed on the creative accounting.

Made the point before here you have to look at the reported profits on this one not whatever costs the management have ignored this year line.

Makes you wonder what other creations are in there. There's hints that the liquidnet integration isn't going well... Wonder how bad it actually is.

They need to go.

[creditcrunchies] 31/3/2022 22:04

As far as I'm concerned I couldn't care less I bought loads at the 120 level then dumped the lot at 150+. There's a repeating pattern with this stock throughout its long term share price collapse. If a takeover does materialise then it could explode up but would you risk it with earnings at 0.651p a share? Every year they throw in one off costs to boost their EPS to make it look like they can afford a dividend. The last time they had real EPS growth was 2017. Look here:
2018 Reported EPS 5.06p adjusted EPS 31.4p (1 off items)
2019 Reported EPS 10.6p adjusted EPS 28.6p (more 1 off items)
2020 Reported EPS 15.2p adjusted EPS 19.8p (more one off items)
2021 Reported EPS 0.651p adjusted EPS 4.54p (more one off items)
That last time they had real dividend cover of 1.02 from reported earnings was 2016 edit, I notice 2020 they had cover of 2.17 (so 2016 and 2020 are the only years they had genuine dividend cover from reported earnings). The gap between real EPS and creative accounting EPS is enormous. I'm not saying this isn't extreme value at these levels because it probably is but it'll go nowhere with this management team.

[creditcrunchies] 31/3/2022 21:39

my comment was tongue in cheek but that's the impression it gives to investors. The share price has crashed yet none of the directors have stepped up to show confidence in their own company by buying stock. Instead three of them dump stock. That's just the way it looks and that decision was after an institution complained of that fact only last week that the management is so bad in TCAP they want the company sold off then sack all of the management because they're useless.

[dhoult12] 31/3/2022 21:32

Apologies and agreed, just somewhat frustrated with this BOD.

Their bonus cash was significant. Given share price.. you would think they might perhaps make a purchase.. with that payout... But then why bother. They haven't shown any respect to shareholders for years.