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Latest News

Bearcast
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Tom Winnifrith Bearcast: Why Julie Meyer was the odd one out & the mystery of Toople and what it did not say

I start by talking you through yesterday's Odd One Out contest explaining the schoolboy error made by Nigel Somerville and others. I look at the Autolus news in relation to Woodford Patient Capital Trust (WPCT) where as a loyal shareholder I shall be attending the May 15 AGM in Oxford with a few questions for Neil "nomates" Woodford. I flag up a shocking little episode at Clear Leisure (CLP) which should make you worry about Octagonal (OCT) and Inspirit (INSP) given that their FD is disgraced Niliesh Jagatia  then discuss Management Resource Solutions (MRS) and finally, in detail, Toople (TOOP). Tomorrow I really will read out a Woodlarks heros roll call. Please join that list ahead of then HERE 

INS

Instem – “as a result of strong institutional investor demand”, ‘long term shareholders’ including directors sell… at a good price then?

Provider of IT services to the life sciences market, Instem (INS) has announced shareholders including the DG 2008 Discretionary Settlement (of which Chairman David Gare and his wife are trustees) and non-executive director David Sherwin have sold shares… “as a result of strong institutional investor demand following our recent results”. With such demand seemingly unable to be met by the market, a good price in relation to a last close 330p share price then?...

WPCT
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Not such good news for Neil Woodford: Autolus announces $100m fundraise at $24

No doubt Neil Woodford will be delighted that his good friends at Crystal Amber think they can realise the equivalent of 123p a share from Allied Minds (ALM). No matter it is a loss, it will be cash in the bank – much needed – IF Crystal gets control and IF the assets are worth what they think and IF they manage to sell them. Meanwhile, dear old Neil – having yet again spunked more other people’s money on Kier (KIE) which promptly fell to a new low - is now faced with a cash-call from Autolus (Nasdaq: AUTL).  What will he do?

7DIG

7digital Group – loan notes redemption notice further accelerates the cash crunch ahoy!

Having earlier this week updated including “the board's current view is that the business will require material further equity and/or debt funding in the next quarter without which the company would be unable to continue as a going concern”, now an “Early Redemption of Loan Notes” announcement from 7digital Group (7DIG). Uh oh…

UKOG
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UK Oil & Gas production update – no one believes in Lyin’ Steve any more

Another day and another production update from Horse Hill which gives UK Oil & Gas (UKOG) boss Lyin’ Steve Sanderson to make the most outrageous claims which he could not substantiate in a month of Sundays. But the dull share price reaction suggests that these days the words of Lyin' Steve are about as credible as a Theresa May pledge on Brexit.

TERN

Tern: yet another loan to DA, this time $315k - the joke goes on

And so AIM-listed jam-tomorrow investment company Tern plc (TERN) has handed over another $315,000 to principal investee Device Authority (DA) in the form of yet another convertible loan, and surprise, surprise the previous loans have yet again been extended by another 6 months. I suppose it was easier to do now that the confetti printing machine got another massively discounted placing away a few days ago at 8.5p, although the shares have since collapsed to just 7.25p – a bad sign indeed.

TCM

Telit – how about an update on that $38.5 million Chinese IOU?

On February 27 Telit (TCM) finally completed the $105 million sale of its Auto division. Well almost. There was the little matter of $38.5 million which was not paid on completion but via a “Vendor Loan”, to you and me, an IOU. But hang on, back then we were told:

QUIZ

Quiz plc – full-year trading update argues “continued expansion”. Er…

An update from fashion retail company Quiz plc (QUIZ) early last month included that it “anticipates revenues for FY 2019 to now be approximately £129.0m… now anticipates that the group's EBITDA will be approximately £4.5m”. Today a “Post-Close Trading Update” including “revenue increased by 12% to £130.9m during the financial year ended 31 March 2019 (‘FY 2019’)”. Good news then?...

SMWH
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WH Smith – the future is travel

I think Malcolm commented on WH Smith (SMWH) a couple of years plus ago, but I am not particularly surprised that it has not troubled the ShareProphets scorers since. We all know the name, most of us visit the shops at least a few times each year and if you are in an airport, well, you can quite easily find yourself getting surprisingly little change from a tenner for just a couple of items. Local monopolies, eh?...

CAML
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Central Asia Metals produces another good set of results and remains a buy

I’ve been a fan of Central Asia Metals (CAML) for some time now, and although the share price isn’t much higher currently, I still see it ultimately growing into a bigger company.

SSE

Headwinds Might Threaten this Gas and Electricity Giant, but the Dividend Still Has Power

Hello, Share Pushers. I suspect not many of us will be over-keen to invest in the bigger power supply companies. The headwinds are worrying. Government caps on prices, big competition from smaller and cheaper companies, fuelled by comparison websites, and the rising oil price. And we could probably think of a few more...

CPT
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Concepta – £2.3 million placing at 3p: what a bunch of (another word beginning with C)

Nine days ago Concepta (CPT) was pushing aggressively at UK Investor - having just re-announced a deal with Boots - and mug punters responded, paying up to 3.75p to buy shares in the market. Last week I was made an insider. Apparently two big funds were desperate for shares and a placing to raise £2 million was underway...

ASC

ASOS – interims emphasise confident of future improvement… but enough to justify valuation?

Online fashion retailer ASOS (ASC) has announced results for its half year ended 28th February 2019 and that “we are confident of a stronger performance in H2 and are leaving FY guidance unchanged”. Hmmm…

Bearcast
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Tom Winnifrith Bearcast: Brokerman Dan takes a 3% stake and would you Adam & Eve it ( again)?

In today's bearcast I look at Cabot Energy (CAB), Andalas Energy (ADL), Eve Sleep (EVE), Indivior (INDV) and, with Neil Woodford in mind,  Allied Minds (ALM).  To join the roll call of heros go HERE 

WGB

Walker Greenbank – full-year adjusted profit “in line with expectations”. Really?...

Interior furnishings company Walker Greenbank (WGB) “is pleased to announce its financial results for the 12 month period ended 31 January 2019”. The shares commenced that year approaching 130p, ended it at sub 90p and are currently sub 60p – and slightly further lower on the results announcement. “Pleased to announce”?...

ALM
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Good news for Neil Woodford as Allied Minds falls under the gaze of Crystal Amber

There has been lots of good news for Neil Woodford – aside from the joke listing of Proton Partners on NEX. Last night, AIM-listed investment company Crystal Amber Fund Limited (CRS) announced its monthly NAV and in it we learn that it wants to take over the running of Allied Minds with a view to winding it down. The good news is it thinks it can realise the assets at a big premium to the then current share price. The bad news…..well, the criticisms of the current arrangements are eyewatering. Was Neil really happy with this, and if not, why did he not do something about it?

TSCO
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Tesco – all eyes on Welwyn Garden City in June!

When I last wrote up a set of numbers from Tesco (TSCO), I concluded that '240/250p is a fairer price for Tesco today and I have seen nothing from its results or those from its sector peers to dissuade me from this'. The short view would be this remains fully on track and my core view on the shares remains positive. Today's edging up of the shares (as I write) deeper into the 230s pence zone reflects this and tells me still to be long of the stock...

Crime-Scene
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Charlatan and snake oil salesman Darren Winters fleeces another punter for £29,000 – the Teacher’s Tale

I am afraid that I still continue to get a stream of letters from victims of charlatan and snake oil salesman Darren Winters. His courses are worthless and the claims he makes are just untrue, as the ASA noted here. Yet Winters regards brushes with the ASA or The Sheriff of AIM fighting on behalf of victims in the Courts  (and winning!) as just another cost of business and carries on, as he has done for almost 20 years, with industrial scale larceny. What follows is the teacher’s tale 

Clown

Wednesday Odd One Out Caption contest - nothing to do with vibrators (on or off expenses)

Just to make this one a bit harder, to win this contest you need to name all six of the fine upstanding citizens below and then tell me which is the odd one out and why ( and its nothing to do with gender). The first to give me seven correct answers in the comments section below wins a semi naked photo of Britain's top share blogger ( mornings only), Thirsty Paul Scott. The deadline for en tries is midnight tonight, Wednesday 10 April.

GHH

Gooch & Housego – announces “in line with management's expectations”… but not with expectations less than 6 weeks before the period-end!

“Gooch & Housego PLC (AIM: GHH), the specialist manufacturer of photonic components & systems, announces that trading in the six months to 31 March 2019 was in line with management's expectations”. But I note an 1150p share price is down from approaching 1900p in October and more than 1500p as recently as February. Hmmm…

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