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Keyword results: CFO resign

PREMIUM CONTENT

Hostmore – CFO resigns “to pursue other interests”, how’s the trading performance and net debt then?

Restaurants and bars company Hostmore (MORE) has announced that CFO Alan Clark “has informed the board of his decision to resign” and that it is “pleased to announce that Matthew Bibby, currently Finance Director of the company, has been appointed Interim CFO”. Hmmm – and what of a current share price response down by more than 2p to 13p?
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PREMIUM CONTENT

Pelatro – “Proposed Cancellation and Directorate change”, hopefully our prior warnings were heeded...

Previously writing on ‘customer engagement’ software company Pelatro (PTRO), a couple of weeks ago I noted discounted shares subscription and still “seeks to collect receivables” red flags. Those red flags haven’t taken long to unravel as it’s now a “Proposed Cancellation and Directorate change” announcement from the company...

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PREMIUM CONTENT

tinyBuild – from AIM Awards 2021 “Best Newcomer” nominee to now a cash-burning trading update disaster (natch!)

TinyBuild (TBLD) has issued a trading and directorate change announcement ahead of its AGM. What’s the news from a company which describes itself as “a premium video games publisher and developer with global operations” and was an AIM Awards 2021 “Best Newcomer” nominee?

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TGP
TGP

Tekmar – proposed investment for “an ambitious plan for growth”, or needed anyway?

Tekmar (TGP) has announced that a “proposal being considered represents a strategic investment from a global institutional investor in the energy sector, which would provide funding for the company to follow an ambitious plan for growth, both organically and by acquisition”. Sounds good, so what of a currently little changed circa 9.25p share price?

AMTE Power – another “Directorate Change” having only listed in March last year?!

Describing itself as “a leading manufacturer of battery cells for specialist markets”, AMTE Power (AMTE) states that it “is pleased to announce that… Alan Hollis has been appointed to the board… has a 20 year public company track record of developing and executing profitable growth strategies within engineering and manufacturing businesses with turnovers ranging from £4m-£200m”. So what of a current more than 3% lower share price response towards 70p and a £25 million market cap?

CNS
CNS

Corero Network Security – appointment of Interim CFO, how’s the recruitment process?

Corero Network Security (CNS) has announced it has appointed Andrew Miller as Interim Chief Financial Officer, noting “having previously held the positions of Chief Financial Officer and Chief Operational Officer from August 2010”. That is with Miller having moved to a non-executive director role here in 2020, so what’s going on?

DRV
DRV

Driver Group – trading warning, is there to be a significant second half improvement?

Professional services consultancy to the construction and engineering industries Driver Group (DRV) has announced “a difficult second quarter” but that implementation of the key findings of an operational review “is expected to support a significant improvement in profitability in the second half”. So what of a share price response currently down 27% at 28.5p?…

Jaywing – CFO “now stepped down”, why’s that?...

Previously writing on data science-specialising marketing and consulting company Jaywing (JWNG), in August with the shares at 12.75p I questioned how ‘pleasing’ “an increase in underlying earnings” and continued to avoid. What now with the shares at 9.75p and following a “Directorate Change” announcement today?…

PREMIUM CONTENT

Essentra – strategy and CFO update, formally adds to corporate excitement potential

Previously writing on Essentra (ESNT) we noted ‘Q3 update, adds corporate excitement potential’ with the company “reviewing the full range of strategic options for the Filters business” with it aiming to become a pure play Components business over time, targeting strategic focus and an acceleration of organic and inorganic growth. Now a further “Strategic Update” and a “Directorate Change”.

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GOG
GOG

Go-Ahead Group – franchise loss due to money not declared… but CFO “decided to resign”?!

On 10th June Go-Ahead Group (GOG), one of the UK’s largest bus and train operators, made a trading update including that its full year results were scheduled for 9th September. In late August this was changed to 30th September, stated as “reflects ongoing discussions with the Department for Transport regarding the historic calculation of the Southeastern profit share over a number of years… and related additional matters”. Now an announcement including that the results announcement “has been postponed. A revised announcement date will be confirmed in due course”. Two delays and now no date scheduled doesn’t bode well…

ALT
ALT

Altitude Group – argues “innovative and transformational growth plans”, but CFO just the latest “change”...

Previously writing on self-styled “operator of a leading marketplace for the global promotional products industry” Altitude Group (ALT), in April with the shares at 44p I concluded the valuation and track-record saw me continue to avoid. The shares closed previously at 38.5p and are currently further lower on a “Directorate Change” announcement…

Directa Plus – after recently argued “outstanding potential growth”, CFO resigns...

“Directorate Change”-titled announcement from self-styled “a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets” Directa Plus (DCTA) – and the shares currently at 88.5p, more than 4% lower in response. I guess the change ain’t an exciting new appointment then…

Tungsten Corp – following results arguing “still expects to meet external forecasts”, “Directorate Change”...

Previously writing on electronic invoicing and purchase order transactions network company Tungsten Corp (TUNG), in July with the shares at 42p I questioned “positions the business well for future growth”?. Now a “Directorate Change” announcement has followed recent results for the company’s year ended 30th April 2020…

EZJ
EZJ
PREMIUM CONTENT

easyJet – CFO says he's off. Shares rise 15%!

One of the earliest lessons I learnt as a neophyte investor too many years ago to remember is that correlation does not imply causality. The above headline is a good example of this. Both events have happened today and both are worthy of some comment, but I suggest the linkage between the two is nebulous at best...

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NMC
NMC
PREMIUM CONTENT

The $6.6 billion dollar fraud NMC – the black hole expands & the CFO walks

Oh dear, oh dear – it is going from dreadful to even more dreadful at NMC Health (NMC), which was suspended in the wake of Dr Shetty’s unreported dealings and a whole load of undisclosed debt coming to light – placing the viability of the company under heavy question. Yesterday we learnt that the debt position has increased from the estimated $5 billion to reach $6.6 billion. The whole outfit is surely toast...

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SHI
SHI
PREMIUM CONTENT

Only Oscar Wilde understands SIG plc

In my estimations for all the love given to the utterances of Warren Buffett, investors would be even better served by mixing up the thoughts of the Sage of Omaha with the wit of Oscar Wilde. This is because reading today's regulatory news offering by building products company SIG (SHI), I was reminded of the latter's line that 'to lose one parent may be regarded as a misfortune; to lose both looks like carelessness'…

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XAR
XAR

Xaar – I having consistently warned… now dire results announcement & to be mass boardroom change

I first cautioned on inkjet printing technology company Xaar (XAR) with the shares rising above 800p in 2013, and have consistently warned since – most recently earlier this month here. Now “2019 Interim Results” and “Board Changes and Succession” announcements – and the shares currently approaching 40% lower on the back of them, to around just 42p!...

MKS
MKS
PREMIUM CONTENT

Is it good or bad that M&S loses another CFO?

So the weekend press story that the Marks & Spencer (MKS) chief financial officer Humphrey Singer was set to resign has been confirmed this morning. Naturally it is all nice words ('I feel privileged to be a part of the challenging but hugely rewarding turnaround at Marks & Spencer') but let's face it, no CFO exits into the night if something is about to go hugely right – especially after some well-publicised tough times…

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Van Elle – after another profit warning last month, “Directorate Change”…

Last month geotechnical engineering company Van Elle (VANL) updated including then current-year performance below expectations but that it “continues to make good progress on its transition plan” and that “momentum entering the new year underpins the board's confidence in the prospects for the group”. Today a “Directorate Change” announcement…

MySale – more own goals than Aziz Behich & co at the 2018 World Cup?

“MySale Group plc (AIM: MYSL), the leading international online retailer, today provides the following update on current trading and group strategy”. Uh oh – not ‘pleased to provide’ then…

Impellam – starts with Managed Services “ahead of expectations”… but it’s a profit warning!

A trading statement from staffing and managed services company Impellam (IPEL) commences that “Impellam continues to make good strategic progress. Our Managed Services businesses in the UK and Australia are growing ahead of expectations as is the entire US business, on a like for like currency basis”. Sounds good then. The shares?... Er, currently down approaching 20% at around 500p!...

LWB
LWB

Low & Bonar – I suggested profit warning, it reckoned greater weighting to the second half…

In April the components of a trading update from Low & Bonar (LWB) saw me note a profit warning then, surely? Instead though the company went for “expects the group's financial results to have a much greater weighting to the second half than in the prior year”. With the shares then heading towards 50p, I concluded a second half reliance amidst clear challenges sees the stock on the bargepole list. Sell. Today another trading update…

DOM
DOM
PREMIUM CONTENT

Domino's Pizza - bet it wishes everyone ate pizza like they do in Iceland!

A while back (as you can read here) I concluded you should wake me up at about a 250p Domino's Pizza (DOM) price. Well another day like today and the shares will crash through this level (and a bit more). So why is 'the official food of everything' having a 10%+ share price dump shocker today? I reckon there are three stories here.

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NAK
NAK

Nakama Group – “Corporate update and director resignation”. Uh oh…

I previously wrote on recruitment group Nakama (NAK) a couple of years ago – the shares then approaching 27% lower, heading towards 2p, on a trading update which featured management-speak shite & is shite!. The shares are today currently heading lower towards 1p on the back of a Corporate update and director resignation

Accrol Group – half-year results claim “remains well placed”. Hmmm…

Accrol Group (ACRL) has announced results for its half year ended 31st October 2017 including “revenue increased by 13.1% to £72.3m” and “the group remains well placed to benefit from its strong position as a major UK supplier of non-discretionary tissue products into the consumer value sector… Growth in these sectors is being driven primarily by increasing Private Label product sales, which continue to take market share from well-known brands”. Sounds promising…

EU Supply – does “Contract win” merit a 12% share price rise?

Having reached 18p last month, shares in e-procurement software provider EU Supply (EUSP) had slipped back slightly – but are currently further higher on the back of a “Contract win” announcement. This following a trading update earlier in the month…

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