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Staffline – “Trading Update” dire… but worse to come? (what about the debt?!)
Previously writing on recruitment and training group Staffline (STAF), in March I concluded announced contract wins likely useful further business – though not sufficient to alter a view that some clean delivery with strong net cash generation is now required here (and that before even considering any Brexit-related future uncertainties). Today a “Trading Update” commencing, “The ongoing Brexit uncertainty is impacting the UK labour market”. Uh oh…
- By Steve Moore |
- 17 May 2019, 12:40 |
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From 82p to 0.4p in seven years …its all a bit of a Blur as Maistro prepares for AIM Casino exit
Retained losses are £27 million and counting, the shares have collapsed from 82p at IPO to just 0.4p, Blur (BLUR), now rebranded as Maistro (MAIS), has been a disaster for investors but at least its founder Phil Letts and his ghastly wife who was also on a fat salary have been able to buy and upgrade a Country mansion, as we noted HERE. Today as it issued another lack of profits warning and warned of another cash crisis, Maistro says it is going to delist from the AIM Cesspit.
- By Tom Winnifrith, The Sheriff of AIM |
- 17 May 2019, 10:59 |
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easyJet: 'Desire for leisure travel continues to be important'
easyJet (EZJ) shares have been under the cosh in recent weeks due to the rum mixture of consumer spending being under pressure and the inevitable Brexit uncertainty. I know the latter is a bit of a 'go to' for many corporate names, but for a company such as easyJet it actually matters if any new impediments occur to travel or restrictions on ownership. The latter has been a real hassle for the company because of a need to show majority control by European Union-centric investors in order to keep maximum corporate flexibility...
- By Chris Bailey |
- 17 May 2019, 10:37 |
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Norwegian E24 goes after former Origo boss, Chris Rynning – parts 4 & 5: conflicts of interest?
We have a double edition today of further articles released by Norwegian E24 as it continues to dissect the activities of Chris Rynning, the former boss of ShareProphets AIM-China Flithy Forty play Origo Partners (OPP). First up we have part 4, which looks further into his role as an adviser to Investinor (Norwegian state-owned) which seems to unearth a massive conflict of interests. Then we move on to Rynning’s lawyer who offered a reply...
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 17 May 2019, 09:27 |
Bonmarche – majority shareholder offeror to “take a step back”… but will a return to profitability be delivered?
Majority shareholder and offeror for women's clothing and accessories retailer Bonmarche (BON), Edinburgh Woollen Mill Group owner Philip Day’s Spectre Holdings, has updated that it “will now take a step back and see if the Bonmarché board can deliver on the plans and strategy it has set out”. Hmmm…
- By Steve Moore |
- 17 May 2019, 09:15 |
FirstGroup's Share Price has Travelled Up, but There May Be Further to Go
Hello Share Takers. As a self-styled green investor, though hypocritically not all the time, I tend to favour public transport providers. FirstGroup (FGP) buses are a familiar sight on our roads and it also operates in the USA and Canada. Those famous Greyhound buses are in its stable...
- By Malcolm Stacey |
- 17 May 2019, 09:12 |
MySale – previously agreed disposal completes… why the further share price decline?
“MySale Group plc (AIM: MYSL), the leading international online retailer, today announces that the transaction to sell the trade and assets of the website cocosa.co.uk… has now been completed… With this disposal complete we can accelerate our 'ANZ First' strategy, which leverages our market position in the region”. What about “leading international online retailer” though? And why, with a deal agreement announced earlier this month and the shares already down from a 226p per share June 2014 AIM IPO and approaching 40p as recently as December, now a further 10% decline to just 11p?...
- By Steve Moore |
- 16 May 2019, 15:25 |
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Tom Winnifrith Bearcast: the Sheriff battles Neil Woodford at WPCT AGM
Today's bearcast is a full report on the AGM of Neil Woodford's Woodford Patient Capital Trust (WPCT) which I'd score as a win for me against the great fund manager and his chairman Susan Searle. I did manage to get Cheryl Cole into the debate and I did ask Neil woodford to donate to rogue bloggers for Woodlarks, as you can do here,, but I also took the board to task on a number of other matters and managed to get Neil pretty riled. Happy days.
- By Tom Winnifrith |
- 16 May 2019, 13:27 |
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Genel Energy has great growth potential
As long as you are prepared to accept a degree of geo-political risk, then I find it very hard not to like Genel Energy (GENL) at the current share price.
- By Gary Newman |
- 16 May 2019, 12:52 |
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Fecking YUseless Chocolate Teapots discontinue investigation
Never mind that a £10 million (or thereabouts) black hole was found in the accounts of AIM-listed Yu Group (YU.) and it raised £11.6 million in a placing last year on the back of dodgy accounts, the chocolate teapots at the FCA have discontinued their investigation, according to the company this morning...
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 16 May 2019, 12:00 |
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Safestyle UK – less than 2 months after “an encouraging start to the year”, AGM Statement…
“UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market”, Safestyle UK (SFE) has updated commencing; “Following the progress made during H2 2018 in stabilising the business, phase two of our turnaround plan is now well underway. Our focus for phase two continues to be on recovering volumes and market share, restoring our operational effectiveness, reducing our costs and enhancing our margins. We remain on track to conclude this phase at the end of 2019 and then plan to move into phase three in 2020 which has a primary focus on accelerating our growth”. Sounds decent enough – and the shares have currently responded… er, to below 80p; circa 15% down!…
- By Steve Moore |
- 16 May 2019, 11:45 |
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FT kept out of Woodford Patient Capital Trust AGM, Winnifrith glides right in UPDATE 2x
The Woodford Patient Capital Trust AGM has opened by denying entrance to the press. Peter Smith, the venerable asset manager editor of the Financial Times has been sent off on his bicycle. The company has decreed that only registered shareholders may enter. Of course, Tom Winnifrith is a registered shareholder.
- By Darren Atwater |
- 16 May 2019, 11:29 |
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Gambling stocks update: GVC and Thomas Cook
Like the complete investment sad-o that I am, I will be listening into today's GVC Holdings (GVC) capital markets day. You will recall I made the stock one of my two tips of the year and then the Chair and CEO stupidly dumped a bunch of stock which nobbled the share price. As discussed HERE, I decided to remain a believer and channelled my inner Peter Lynch in deciding that they were foolish but not rotten as the only real guide to director views is buying more stock with cold hard cash. Well the shares have recovered a little since and judging by the tone of today's pre-capital markets day blurb, life remains opportunistic…
- By Chris Bailey |
- 16 May 2019, 10:15 |
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Benevolent AI - the ticking timebomb for Neil Woodford - the Scientific view of this joke
The £2 billion valuation of Benevolent AI flatters the NAV of Woodford Patient Capital Trust (WPCT), whose AGM I shall be attending this morning, and has - on its own - earned Neil Woodford c£2 million pa in management fees as a result of the EIF Holding. We have covered this Theranos in waiting many times HERE. But what is the scientific view?
- By Tom Winnifrith |
- 16 May 2019, 09:23 |
Be Heard Group – argues “a good start to the year”… but what about cash flow & the balance sheet?
Previously writing on digital marketing services group Be Heard (BHRD), last year with the shares at 1.3p, I concluded that the shares are firmly on the bargepole list. Now an AGM update including “the group has had a good start to the year. For the first quarter, the group has experienced good revenue and Adjusted EBITDA growth, with the overall trading performance being ahead of both budget and last year. Moreover, we are becoming more confident regarding performance for the remainder of the year”. The update has helped the shares bounce to a current 1.05p…
- By Steve Moore |
- 16 May 2019, 09:15 |
Compass Heads North Yet Again as Interim Results Move in the Right Direction
Hello Share Chargers. There’s one stable contributor to my portfolio which I will probably stick with through thick and thin. However its interim results incline me to think that ‘thick’ will reign for some time yet. Compass Group (CPG) is one of the biggest caterers in the world...
- By Malcolm Stacey |
- 16 May 2019, 09:12 |
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Tom Winnifrith Bearcast - Defrauded of £36 by Rentalcar/Europcar and fecking livid
I explain the nature of the fraud and why I am so livid. My anger is compounded by Wrexham Council and its inability to sign roadworks which wasted half an hour of my life. Then I find I agree with David Lenigas on something: can life get any worse? I discuss Argo BlockChain (ARB), PureCircle (PURE), Cabot Energy (VAB), Watchstone (WTG) and Toople (TOOP). Maybe I have a second question for Neil Woodford, will anyone pay £250 for me to ask it? If you are yet to donate to Rogue Bloggers for Woodlarks we are now at £27,000 raised so please chip in HERE.
- By Tom Winnifrith |
- 15 May 2019, 17:56 |
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Yu Group – FY18 results and a lack of cash (despite the headlines)?
AIM-listed Yu Group (YU.) has posted its much awaited results for the year to December 2018 – much awaited because during the year it ‘fessed up that its previous numbers had been less than believable. The opening lines make good reading – and the market has reacted well, marking the stock up by a whopping 67%, last seen, to 155p but I wonder about that.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 15 May 2019, 16:03 |
TLA Worldwide – after more than 5 months of Australian business sale discussions… “discussions… continue”!
TLA Worldwide (TLA) has updated that “further to the announcement of 19 December 2018, TLA confirms that its discussions relating to the sale of its Australian business continue. In order to allow these discussions to be concluded, the period of forbearance granted by SunTrust Bank has been extended to 29 August 2019. There can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction”. Hmmm…
- By Steve Moore |
- 15 May 2019, 15:45 |
Tom Winnifrith: Just EIGHT days to go, please please please sponsor Steve, Lucian, myself and nine others for Woodlarks
Woodlarks is an amazing but incredibly unfashionable charity. If you give £10,000 to an organisation like Guide Dogs for the Blind or the RSPCA it makes no difference. Give £100 to Woodlarks and it will help change a life. And that is why, in EIGHT days time I shall be walking the 33 miles from Horse Hill to the Woodlarks camp site.
- By Tom Winnifrith |
- 15 May 2019, 15:28 |