Volution Share Discussion Threads

[tsmith2] 24/8/2010 08:17

patience ran out - selling out.

[greengiant] 24/8/2010 07:57

You have to laugh - I hope that Ashmanor and the others are JS's friends. What a dire set of results. What is really side splitting is TW who LUUUUUV's this company wrote something along these lines in an update about the company

...It is a technical breach following a disposal not a reflection of dire trading...

Now in the Account

Due to challenging economic conditions and the subsequent effect on the Group's financial performance, the Group is in breach of its banking covenants.

So it is due to the dire performance. (chuckle)

Looks like JS may have told a porky to TW. Naughty, naughty.

Seriously - get rid of this bunch of value destroying management

gg

[greengiant] 23/8/2010 11:11

Results tomorrow should be interesting



gg

[hh9] 23/8/2010 11:07

Not only do they get the stated shareholdings wrong but they also continue to refues to admit to the sharehodings held via Ashmanor - 13.30%. If JS was ever forced to tell the truth he'd have a breakdown. Please can we have goodbye and good riddence.

[greengiant] 19/8/2010 13:04

To me the simple things reflect on how well management are at dealing with the more complex issues. If you cannot keep the house in order for dealing with the simple issues, what chance do they have at dealing with the complex issues?

Will be happy to see this move out of these inept "professionals" hands and into somebody who can drive the business forward. After all, it is sad to see such shareholder value destruction.

gg

[moorsie2] 19/8/2010 12:59

They truely are pants and a lot of that responsibility should lie with JS himself. Hopefully a takeover will occur and clear out these inept "professionals"

[toback] 17/8/2010 10:25

I reckon its a break up too.

Hasn't RSH (owners of T1ps) just bought an events management business?

Maybe they are going to pick up that element as part of the break up.

[hh9] 13/8/2010 09:55

Neither is JS

[greengiant] 12/8/2010 07:14

HH9 - that's because they can't sell the footie business as I have repeatedly said, it is just not attractive to a VC

gg

[hh9] 11/8/2010 19:55

I feel it's more of a break-up or offer for the theatre businesses. They sell clear the debt, flog the events and we're left with football - yippee

[argy2] 10/8/2010 21:04

GG....It was more that he consistently failed to notice the mis-management as he has done in many other cases such as MYH, NXS, MMD, AVI, MIN and many others. He seems to take a view and stick with it regardless of any obvious or apparent danger signs.

[greengiant] 10/8/2010 19:37

ARGY,

I don't mind that he has got this wrong, show me someone who has got a 100% record. My concern is and always has been management. I just don't believe (and the Market Cap justifies) that this Board are capable of adding Shareholder Value

gg

[argy2] 10/8/2010 18:12

TW has got this consistently wrong ever since he first ramped sorry tipped it. Why now should be any different heaven knows.

[greengiant] 10/8/2010 18:00

alaneanthony, I know I remember when they were around £1 and Daniel Stewart had them as a buy with a price target of around £1.40 - thankfully I never bought.

This is my point exactly about this Board of Directors. They have over a period of 3 years absolutely destroyed shareholder value - so maybe it is time just to move on and let somebody else have a go. As an indication, the estimated market cap at November 2007 was around £12m, today even after bid news it sits at £5.7m.

Along the way they have bought and sold (at a significant loss) various businesses and yet the majority of holders here will never see there full investment again.

It should also be noted that we have been here before:

It should also be noted that at the point of that announcement the Market Cap was 50% higher than todays market cap post bid announcement.

Let us not forget that this is the self same board that around 15 months ago announced that there was a potential MBO of the footie business. Then again in the FT in Feb announced that he expected to sell the Footie business in around 3 months. Still nothing until today.

And along with this the company has failed in its corporate responsibilities (AIM 26) by failing to keep its major shareholders page updated. To me it is time for a change, and I will use every share I have to ensure that change is forthcoming.

I also find it amusing that TW now has this as a hold at around 20p, because if this offer does not materialise the share price may drop back - despite him saying that the sum of parts is around £30m.

gg

gg

[alaneanthony] 10/8/2010 16:49

Greengiant --- Re post 1229

TW also said in Mar'07 that these would be 240p by Oct'08. How values can change!! Held them all this time and still sitting on a miserable loss!!!

[tara7] 10/8/2010 13:35

Greengiant, hate to say it but , yes things are looking good for you .

Have a look at Northacre and the profit hidden in MNR"S accounts page 9 31/12/09.

We are to get an update in the morning and i am looking for Northacres share of the Lancasters to show up at £50M, that will grow as the last 50% of the flats are sold.

Northacres market cap £20M, with total profits from just one site of around £80 plus in my view.

[egoi] 10/8/2010 12:35

If all else fails, talk of breakup value usually keep punters sweet imho.

Funny, didn't I read something similar on the NXS thread?

[argy2] 10/8/2010 11:00

A buy of 65k shares about 10 mins before the announcement. Wonder who leaked the approach? Hopefully not a tax haven source.

[greengiant] 10/8/2010 10:50

Argy,

Looks like based on L2 and time it was a buy, which helped push the price up in the first place

gg

[argy2] 10/8/2010 10:49

65k x 15p?

Desperate seller or delayed 'insider'?

[tamdolan] 10/8/2010 10:48

and back down again

[greengiant] 10/8/2010 10:34

We have been here before tho' and nothing happened. Who knows maybe this time.

gg

[toback] 10/8/2010 10:20

lets hope something happens quickly