Less than a year after an emergency fund raise.....Got to think the CEO is on borrowed time, although the Board has a "jobs for the boys" (and girls) look to it. The brainiest director was probably Martin Green but he was wise enough to jump ship before all this. |
The guidance that trading has not improved and losses will be reported. That's why it dived. The worry is the high level of debt |
What has this reacted too? |
Interims this week no?Curious how much further this goes |
Looks like people eyeying restoration of a dividend at some point in the future... When is a good question... |
Slow steady tick up, may be out of intensive care soon! |
Signs of a heartbeat! |
Results next week, should at least give a baseline of where the company is going! |
results sometime during the week commencing 22 April 2024 |
Management change long overdue. |
So not much progress here, delayed accounts, no dividend, challenging environment, and slow recovery. At least another year to recovery? |
Very quiet here, hoping no news is good news! Could do with some good news to really get the ball rolling! |
Yes, but I am sure I saw some other buys earlier. |
weren't they just part of the fundraiser? ie daft not to do some to avoid dilution? |
Going in the right direction now at least, I think the director buys will have given some confidence. |
It will be interesting to see if there will be some kind of recovery now |
And that still leaves over £130 Million in net debt ?. |
The offer fixes their debt position to clear the loans for the acquisition of Savage and Audix. 72.5 million to clear their bank credit facility. You won't see the share price of 1250p again with this level of dilution be lucky to get 500p tops for a recovery from my guesstimate |
Classic example of what can happen when accumulate debt then get hit by a downturn and high interest rates. Obviously the shareholder is the cheapest option to get them out of this mess. |
When you think the shares were trading above 1600p not that long ago and they are now raising money at 267p, you do have to ask how the CEO is still in his job..
Glad i never invested here. |
TRCML, try adding up the huge amount spent on acquisitions over the last 5/6 years.
And then perhaps ask if these acquired businesses have added or destroyed shareholder value.
Spooky, agree, extraordinary. |
Surely it's not the CEO's fault two strikes in the USA and retailers over-stocking? |
How has the CEO managed to hold onto his job? |
Looks like holders get a 2 for 5 open offer (ex from open this morning). They're not tradeable rights, so you either take them up or lose out. |
Explains the subdued price for so long. Looks like it was an eager take up now all headwinds are over. |
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