Triad Share Discussion Threads

[gleach23] 29/11/2018 11:09

Thanks Danny Baker - that makes sense. Glad you have the patience to read the twitter account :) However some better transparency that the 17% had landed back in the hands of Makar would have been good - in the same way as it was made transparent that they had gone to Atkinson from her in the first place.

[danny baker] 29/11/2018 10:52

The statement wasn't cryptic at all. Paul Atkinson at one stage had MM's shares vested in him as a Trustee in Bankruptcy, He sold some shares to pay outstanding debts then returned the balance to MM. However MM is disputing the validity of the entire process. She voted against several board resolutions at the AGM with the shares she had voting control over. The social media comment is on twitter.

[gleach23] 29/11/2018 10:18

Worth remembering that they said the following back in June this year. I agree it all seems a bit cryptic and should be clarified. "Triad is aware of discussion in the media of the possibility that, as a result of a court order declaring the bankruptcy of a major Triad shareholder, there may be a large overhang of shares waiting to be sold which may, in turn, be weighing down the share price. After thorough investigation of the situation by Triad's Board, I am able to confirm that no substantial body of shares in the hands of a Trustee in Bankruptcy is waiting to be sold."

[netcurtains] 29/11/2018 10:09

I guess they dont want to name the shareholder because it just makes it worse - if you are a holder they probably assume you can guess.

[wiganer] 29/11/2018 09:50

“Triad added: “The company is aware of numerous unfounded comments from a major shareholder appearing on social media, relating to its officers and professional advisers. “The company is taking this matter extremely seriously and has sought appropriate legal advice””

[buywell3] 29/11/2018 05:57

Triad ought to clarify what happened to 17% of their shares Also what price were they sold at ? Are the new holders sitting on a 25% loss after 2 months ? Are they the ones moaning on the media ?

[dangersimpson2] 28/11/2018 20:07

If the 17% has been sold and not returned to Makar that is positive. Still a disgruntled former CEO is not good but better than one who also owns 17% of the company. Pretty sure 17% cannot have been sold in the market which means that it must have been sold in blocks, surprised that no one holder took more than 3% but guess it must be so.

[buywell3] 28/11/2018 16:50

My understanding is that Paul Atkinson was a trustee of the auditor PWC google says Paul Atkinson - PwC hTTps://www.pwc.co.uk/contacts/p/paul-j-atkinson.html Paul Atkinson. ... 2015 - Sun Nov 18 18:00:29 UTC 2018 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each My understanding is that Miss Makar lost a case against PWC in 2011 and the costs were big ... so PWC got her Triad shares ... Paul Atkinson the PWC trustee ... who has sold around 13% of her original 30% holding over the years Miss Makar is talking on twitter ... so it might be there that things have been said ... A gent called Guy Wakeley CEO Equiniti is on the receiving end ... she obviously still is fighting google says Mira Makar on Twitter: "GuyWakeley @equiniti You gambled with your ... https://twitter.com/MiraMakar/status/1044489914535088129 GuyWakeley @equiniti You gambled with your own reputation,that of @PwC ..... OF FORGERIES INCL JUDGE'S SIGNATURE-PAUL ATKINSON,thief given dyor But none the less Who has bought the 17% he recently sold on Sept 25th 2018 ?

[dangersimpson2] 28/11/2018 10:40

This makes very interesting background reading: hTTp://www.mentalhealthlaw.co.uk/media/Baker_Tilley_%28A_Firm%29_v_Makar_%282013%29_EWHC_759_%28QB%29%2C_%282013%29_MHLO_33.pdf "But the next day, following her complaint that Master Leonard had refused to accept documents by email, Miss Makar became tearful. The Master suggested a break so she could compose herself. She went into the corridor and became very much distressed. She lay rolling on the floor of the corridor screaming. After a little, she calmed down. Her conduct gave the Master concerns as to her capacity to conduct the assessment proceedings." "I do not question the sincerity with which Miss Makar seeks to pursue litigation against persons involved with the employment tribunal proceedings and proceedings consequent upon them. However, she has involved many people, including some who have had little, if anything, to do with the matters about which she complains, in the expense and some anxiety of proceedings, which were not justifiable on any proper legal basis and which could never have been justified. The intensity of her feelings about this matter is clear. This is confirmed by further communications that I have received from her since 19th November 2012. It is clear that unless restrained she will continue to bring further proceedings and applications." From comments made by Makar on twitter I believe she may have the Triad shares back from the insolvency trustee and the accusations against the company to do with an alleged theft of a share certificate allowing dematerialisation and therefore transfer. Although to be honest I don't really understand what is alleged and it all sounds pretty far fetched. It's not a great situation given that I think Makar is a large shareholder who doesn't want to sell but may not want to see the company a long-term success. I doubt it has any bearing on the trading performance of the company though and given the cash balance & FCF looks massively undervalued.

[sailing john] 28/11/2018 10:38

This might be of interest enjoy! Make a cup of tea and clear your diary for a few hours first! https://twitter.com/miramakar/media?lang=en-gb As she probably reads this BB - I'll keep my views to myself I remain a long term shareholder though GL - SJ

[achenaton] 28/11/2018 09:33

If Paul Atkinson was a trustee could it be that the shares were simply transferred back to the original owner?

[netcurtains] 28/11/2018 07:49

sshhh keep it quite I'm accumulating soon.

[s34icknote] 28/11/2018 07:20

Yes I'm still wondering on that one !Did ms maker buy them !!!! Funny , we fell same percentage as Thomas cook who cancelled their dividend and are loss making !Funny old world !Sicknote

[buywell3] 28/11/2018 05:16

Here is the link to show when Paul Atkinson sold the last tranche of Triad shares he held hTTps://www.investegate.co.uk/triad-group-plc--trd-/rns/holding-s--in-company/201810021550057421C/ 2,693,453 shares sold and down to zero or percentage wise from 17.04% to zip with Triad having Shares In Issue (m) 15.8000m Date the deal was done 25th Sept 2018 , notification 2nd Oct 2018 So who bought these shares ? Just shy of 2 months elapsed and I can see no RNS saying who has bought 17% of Triad ???

[buywell3] 28/11/2018 01:26

Major Shareholders Name Type Amount Holding % Dr. John C Rigg - 4,509,400 28.51 Paul Atkinson - - 17.39 Thomas William George Charlton - - 6.04 But I think this is out of date as Paul Atkinson was PWC and I seem to remember they have sold out now But to who ? Who has bought 17.39% of TRD shares ? Nothing I can find on here about major shareholders hTTps://www.triad.co.uk/wp-content/uploads/2018/06/2018-Annual-Report.pdf why ? Could it be that the old CEO ... the lady that had the fall out .... has bought back in after losing her big stake in the old legal action ? Anybody know .... because that is what I think might be going down IMO If so .... a rocky ride could now ensue ''Hell hath no fury like a woman scorned. No one is angrier than a woman who has been rejected in love '' dyor hTTps://www.independent.co.uk/news/business/news/pwc-quits-as-auditor-to-troubled-triad-6098371.html hTTps://www.theguardian.com/business/2006/nov/07/3 This could make good material for a BBC drama series perhaps Here is the sub-plot Sacked whistleblower chief vindicated Simon Bowers @sbowers00 Tue 7 Nov 2006 23.41 GMT Shares 0 The former chief executive of Triad Group, a small IT consultancy with clients ranging from Tesco to the Department for Transport, has won an undisclosed settlement from the company after she was sacked for raising what the board admits were reasonable concerns. Mira Makar, a ballerina turned accountant, was suspended with immediate effect by John Rigg, Triad's executive chairman, in February last year after he interrupted a meeting she was having with Evolution Securities, the firm's brokers, at which she had been detailing her concerns. She was sacked in December. Lawyers for Ms Makar had been due to begin presenting her case before an employment tribunal yesterday, but a private settlement was agreed just hours before the hearing was scheduled to start. Ms Makar and Mr Rigg - who had been involved in a personal relationship with each other that ended some years ago - each hold 29.7% stakes in Triad. Shares in the company fell 3p yesterday to 23.5p, leaving the loss-making company with a market value of only £3.6m. It is also saddled with a considerable legal bill. In a statement to the stock exchange, the company said: "The directors accept that Ms Makar had a reasonable basis for concerns on a number of financial issues ... The directors also accept that Ms Makar acted properly in drawing attention to these matters." Triad declined further comment other than to say: "Events leading to her dismissal were unfortunate and the directors regret the distress Ms Makar has suffered." Ms Makar's concerns are believed to have focused on invoicing issues at Generic Software Consultants, a recruitment subsidiary in Milton Keynes. She had hired accountants from Egan Roberts and the private investigations firm Stork to look into the matter. Ms Makar claimed she went to Evolution only after Mr Rigg had failed to support her investigations. In July last year Mr Rigg issued a statement telling investors that PricewaterhouseCoopers intended to comment in the full audited accounts on what it believed were "accounting control issues" that violated the Companies Act 1985 but the full report and accounts were unqualified. Nevertheless, the audit firm resigned in June this year. In its report and accounts, Triad blamed credit control issues on a number of exceptional circumstances including an unprecedented workload, the loss of two experienced staff and a new invoice-processing system. It said all information was recorded correctly and a "slippage in cash collection" was recovered in full. The company received a letter from the Financial Services Authority last year but is confident that it is no longer the subject of the regulator's attentions. Wonder how much Triad could charge ? might be a money maker for Triad shareholders and make up for the shortfall

[amt] 27/11/2018 19:14

About 6%. Pe of about 6. At this rate in 3 years the cash will be equal to current market cap. I thought the share price down at 62p had factored in all the bad news but clearly not. Mind you the Aim market sentiment is very poor. Look at D4T4 for example after excellent results today.

[s34icknote] 27/11/2018 13:43

What's the yield at this price ?Assuming 2.5 p total div ?Sicknote

[netcurtains] 27/11/2018 12:13

Its mad isn't it!

[s34icknote] 27/11/2018 10:48

Current cash in bank is 55 percent of share price .Sicknote

[s34icknote] 27/11/2018 10:41

Market is irrational !Wish I was on a flybe ! Sit tight and collect dividends unlike Thomas cook Sicknote

[netcurtains] 27/11/2018 10:14

Why on earth did the price go down? All that has happened is results down graded us from: bloody amazingly marvellous to amazingly marvellous One would have thought the share price would have gone up just a tad slower - instead, the great unwashed sold. I do hope the seller was a shorter... LOL that would be so funny to see him lose all his money trying to short Surrey IT. ha ha ha. what a tossser - hope he really does lose his shirt on this short.

[its the oxman] 27/11/2018 10:03

Surely a good time to buy and lock away.

[arthur_lame_stocks] 27/11/2018 09:37

I'm not selling just because the results were below par. Even with this reduced profit the company is not on a high rating and the balance sheet is bulletproof.

[impvesta] 27/11/2018 09:33

Disappointing results and I didn't think the outlook statement was very positive so I've bailed out today at 48p. It was very difficult to sell, even with a very small holding, and I was watching the price sliding downwards while I was trying to do so. On the plus side cash generation is still good and a good increase in the interim dividend. Good luck to those who remain invested.

[danny baker] 27/11/2018 09:30

42-5 - well those were disastrous interims. Revenue down a lot dragging profits down as well. Nothing much in the outlook to get excited about either.