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Sepura – The rollercoaster continues: where’s Dean Gunnarson when you need him?

Great news from Sepura (SEPU) this morning as the rollercoaster deal with Hytera continues with the announcement that the UK government seem minded to allow the deal to proceed. Just the pesky Germans to deal with now. I feel the skills of Dean Gunnarson are needed now. Who’s Dean Gunnarson you might ask, quite understandably. Well, read on….

SEPU

Sepura – kudos to Cynical Bear, proposed takeover of the company faces a ‘Public Interest’ review

Kudos to Cynical Bear’s questioning whether a “Competition approvals” RNS last month from Sepura (SEPU) was really about competition approvals – it has now been announced that the Competition and Markets Authority is “to consider whether a public interest consideration is relevant to the acquisition as a result of Sepura's commercial arrangements with UK government entities”…

SEPU

Sepura – Hmmm, was that RNS really about “Competition approvals”?

It’s been an absolute roller-coaster of a week for Sepura (SEPU) which is embroiled in a drawn-out takeover saga with Hytera Communications subject to competition delays. There were a number of interesting RNS’s worth commenting on this week but one in particular has my spoof antennae whirring. Were shareholders being told the whole story?

SEPU

Sepura – less than 2 months after bail-out fundraising, a profit warning extraordinaire!

After 4th April 2016, “adjusted EBITDA lower than expectations… possibility of covenant breaches”, 27th April; “short term cash constraints… ongoing discussions with stakeholders regarding liquidity and capital structure” and 27th June “management actions taken to revise business model - impacting FY17 financial performance”, a now 12pm “Trading update” announcement from Sepura (SEPU). Uh-oh…

SEPU

Sepura – you were warned & highly suspicious share price movement ahead of mega dilution ahoy!

Following a 4th April profit warning and with the shares at around 140p, I warned that the lack of order visibility together with the possibility of debt covenant breaches must make shares in Sepura plc (SEPU) a sell/bargepole, concluding that the warning signs are loud & clear – see HERE. With the shares currently down a further more than 30% today, at 65p, on the back of a “Trading Update and Financial Position” announcement, you were warned…

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KUSSSB
KUSSSB7 Nov 2026
As a layman I have a much clearer picture, thankyou.Please repeat podcast following Anthropic IPO.
Podcast: Tom Winnifrith & Barry Downes - the Implosion of the AI bubble
BURIEDTREASURE
BURIEDTREASURE7 Nov 2026
Barry says "if this trade unwinds it does completely crash the economy" as if there is a way to avoid it. By some measures the biggest bubble the world economy has ever seen cannot be kept inflated indefinitely, nor can it be made to deflate slowly and gently float down. Or at least that has never been seen with the biggest bubbles the world has ever seen previously. Interesting times ahead.
Podcast: Tom Winnifrith & Barry Downes - the Implosion of the AI bubble
MAYFAIRMAN
MAYFAIRMAN7 Nov 2026
Please produce some data to back up your claim that the government by which you mean the Bank of England as the government has no control over the money supply, is printing money. What is increasing, is it M1, M2 or M3 and by how much? I strongly suspect that the inflation we are seeing today is input cost inflation, largely caused by the increase in energy costs as a result of the war started by the orange faced idiot and his puppet master Netanyahu. Energy costs are pervasive, influencing every aspect of the economy and your suggestion of reducing the taxes on energy is populist nonsense. Would you have the government borrowing even more money than it is now, or dare I say it, printing money?
Tom Winnifrith Bearcast: on inflation, on Barry Downes and on being a mega bear
PHIL5566
PHIL55667 Nov 2026
Benefits increases of 3.9%. public sector pay increases of 3.3%. 4.1% increase in minimum wage.I have no idea where some inflation comes from?Though of course all these people have to choose between heating and eating.
Tom Winnifrith Bearcast: on inflation, on Barry Downes and on being a mega bear
MAYFAIRMAN
MAYFAIRMAN6 Nov 2026
Money printing schmoney printing, what you say makes no logical sense. Inflation can have many causes and money printing is certainly one of them, but neither the Federal Reserve nor the Bank of England are printing money at the moment. If they were printing money they would not need to borrow money. Why would you borrow money at 5% if you can print it? Both countries are borrowing huge amounts, record amounts, ergo they are not printing noney. And you call your self an evonomist!
Tom Winnifrith Bearcast: on inflation, on Barry Downes and on being a mega bear
PIEROTLUNAIRE
PIEROTLUNAIRE6 Nov 2026
Not exactly a share structure designed to maximise liquidity or discount to NAV!!!Contains some good companies including my fave Zegona which has been on an absolute tear for 18 months and is fated to be taken out by Telefonica at £25-30 per share versus £17.5 now.À far easier to do 2x, though, is CHRY at 66p with a 130p NAV and is in wind up mode. Basically it is a 10% stake in Starling Bank plus some other stuff. Starling is an IPO in 2-3 years time on the NYSE (and also holds a very valuable software co, Engine). So there shd be 2 years worth of growth plus the elimination of the illiquidity discount on top of current NAV.Waz Shakoor says he has weighed in heavily on this name, as have I.
Marwyn Value Investors – interims, “a number of different routes to further value creation” BUY
Dazza
Dazza6 Nov 2026
I've poked it with a stick. It should be there now - Darren, ShareProphets
Tom Winnifrith bearcast: rates up, fear not they will have to be slashed
LX355
LX3556 Nov 2026
This Bearcast is still not appearing in my podcast app. When this has happened before Darren does something to resolve it.
Tom Winnifrith bearcast: rates up, fear not they will have to be slashed
TOM
TOM6 Nov 2026
i would not want folks thinking i was a nice employer... emma reynolds has called ouit folks like me
Tom Winnifrith bearcast: rates up, fear not they will have to be slashed

Complete Coverage

That Was the Week that Was 7 Days of ShareProphets

Saturday »

BMS
Braemar – winning share tip still a buy
  • By HotStockRockets
  • 40 minutes ago
DOTD
dotDigital – full-year results, positive trading outlook Buy
  • By HotStockRockets
  • 1 hour ago
Price-Vs-Value
ShareProphets readers tips for 2026 prize competition – (just after) end-October update
  • By Steve Moore
  • 3 hours ago

Friday »

Collapsing-Reactor
A cartoon about Texas - Barry Downes loved it
  • By Tom Winnifrith
  • 23 hours ago
Bearcast
Tom Winnifrith Bearcast: on inflation, on Barry Downes and on being a mega bear
  • By Tom Winnifrith
  • 1 day ago
LORD
Lords Group Trading – “pleased to announce completion of amendments to the covenant packages”, BUT…
  • By Steve Moore
  • 1 day ago
Boom
Podcast: Tom Winnifrith & Barry Downes - the Implosion of the AI bubble
  • By Tom Winnifrith
  • 1 day ago
Gold
Video: Silver is ‘Incredible Cheap’, Futures Manipulation & The Return of Gold
  • By Tom Winnifrith
  • 1 day ago
BILN
Billington – I having questioned in April how confident to really be of trading in line with market expectations, now a “Trading Update”…
  • By Steve Moore
  • 1 day ago
SBAR
Sundae Bar: surely it is almost out of fiat ( again), placing ahoy?
  • By Tom Winnifrith
  • 1 day ago
GEX
Georgina Energy RNS: More questions than answers, the odd use of the English language
  • By Tom Winnifrith
  • 1 day ago
CRTA
Cirata's peanuts contract renewal a pump before another bailout fund raise
  • By Tom Winnifrith
  • 1 day ago
Sinking_Ship
AIM Statistics: October was yet another poor month
  • By Tom Winnifrith
  • 1 day ago
VLRM
Valereum: I know it has six months but is there any effort to recruit a new advisor? All the Money's gone!
  • By Tom Winnifrith
  • 1 day ago

Thursday »

Bearcast
Tom Winnifrith bearcast: rates up, fear not they will have to be slashed
  • By Tom Winnifrith
  • 2 days ago
VTY
Vistry – “Trading Update”, how’s its “Repositioning Vistry for Sustainable Success” going?…
  • By Steve Moore
  • 2 days ago
Gold
Peter Schiff on the growing bull case for gold: tell me why he is wrong post mid terms
  • By Tom Winnifrith
  • 2 days ago
Boom
If you are in Banff in Jockland go and buy a drink at the Seafield Arms
  • By Tom Winnifrith
  • 2 days ago
AMRQ
Amaroq – Maarmorilik project development strategy adds to potential, Buy, shares could be 400p by 2029
  • By HotStockRockets
  • 2 days ago
AMG
Letter to Strand Hanson on Atlas Metals - The £1 billion claim you stood by was bollocks: RESIGN!
  • By Tom Winnifrith
  • 2 days ago
SBTX
Skins & clutching at straws
  • By Tom Winnifrith
  • 2 days ago
ASC
ASOS – full-year results emphasise “Return to growth: Strong operational and profit delivery”. Really?…
  • By Steve Moore
  • 2 days ago
Labour
My 10 year old son totally floors our local Labour MP on economics
  • By Tom Winnifrith
  • 2 days ago
AMG
SCANDAL & VINDICATION: Atlas Metals, £1 billion UPSA deal collapses (as predicted), why aren’t heads rolling, why is Christian Schaffalitzky not going to jail?
  • By Tom Winnifrith
  • 2 days ago

Wednesday »

AAU
Ariana Resources – Q3 2026 Activities Report, a gold recovery Buy
  • By HotStockRockets
  • 3 days ago
IGE
Image Scan Holdings – emphasises swing to profit and “healthy order book”, but how ‘healthy’ really?
  • By Steve Moore
  • 3 days ago
CDGP
Chapel Down – having in September stated credit facility “provides ample headroom for growth”, now a “Proposed Capital Raising”!
  • By Steve Moore
  • 3 days ago
Bearcast
Tom Winnifrith Bearcast: what a company does not say and frightening words it can say
  • By Tom Winnifrith
  • 3 days ago
FDM
FDM Group – “consultants assigned to clients has increased”, but how materially and what about the financials?…
  • By Steve Moore
  • 3 days ago
MPAL
EXPOSE: MedPal AI still burning cash and still hiding key metrics
  • By Tom Winnifrith
  • 3 days ago
JDW
JD Wetherspoon explains economics and job destruction to the Uniparty
  • By Tom Winnifrith
  • 3 days ago
Oil-Rig
Video: ‘Massive Upside’ In Oil Stocks & The Iran War Restart
  • By Tom Winnifrith
  • 3 days ago
LIKE
Likewise Group – “materially ahead of current market expectations” value from a winning share tip
  • By HotStockRockets
  • 3 days ago
Greek Tear
The grand final voting - win a week at the Greek Hovel contest, Darren has it in for his employer!
  • By Tom Winnifrith
  • 3 days ago

Tuesday »

CPX
CAP-XX – “Director/PDMR Shareholding” announcement, attempted ramptastic?
  • By Steve Moore
  • 4 days ago
ECOB
Eco Buildings Group – “New Contract Secured” further hints at the potential, Buy
  • By Tom Winnifrith & Steve Moore
  • 4 days ago
Bearcast
Tom Winnifrith bearcast: ending 3 years of hurt tomorrow, the threat of legal action & what the mid terms mean
  • By Tom Winnifrith
  • 4 days ago
PANR
A slam dunk oil sell for Christmas
  • By Tom Winnifrith
  • 4 days ago
AMRQ
Panmure: Amaroq now 98p target 165p, Maarmorilik comment
  • By Tom Winnifrith
  • 4 days ago
TUNE
Focusrite – interims emphasise “improved profitability supporting full year expectations”, but how ‘improved’ are those?…
  • By Steve Moore
  • 4 days ago
Dead-Donkey
Alessandro Zamboni’s Nuburu – CLN providers dump shares onto mug retail punters yet again
  • By Tom Winnifrith
  • 4 days ago
AGY
Allergy Therapeutics is off – another hammer blow to AIM
  • By Tom Winnifrith
  • 4 days ago
GEX
Will Georgina Energy sue Tom Winnifrith & ShareProphets: see you in Court Bitchez!
  • By Tom Winnifrith
  • 4 days ago
STX
Shield Therapeutics – after in August “on track for operating profitability in 2026”, what about now with a “Q3 2026 Trading Update”?…
  • By Steve Moore
  • 4 days ago

Monday »

Bear
Semi Final 2 - Vote now on the short contest to see who wins a week at the Greek Hovel, polls close Tuesday midnight
  • By Tom Winnifrith
  • 5 days ago
Bear
Semi Final 1 - Vote now on the short contest to see who wins a week at the Greek Hovel, polls close midnight Tuesday
  • By Tom Winnifrith
  • 5 days ago
Boom
My most viewed X post in history, Emma Reynolds MP is a bitch and I want my cash back
  • By Tom Winnifrith
  • 5 days ago
Bearcast
Tom Winnifrith Bearcast: a poisonous snake tale from Greece, Gotcha Vast!, Eco Buildings and Amaroq, chatting to Black Angel's last owner
  • By Tom Winnifrith
  • 5 days ago
CPX
CAP-XX – emphasises “strengthened demand”, but how financially significant?…
  • By Steve Moore
  • 5 days ago
AMRQ
Amaroq string of pearls video out today made me feel ill
  • By Tom Winnifrith
  • 5 days ago
VLRM
How to tantalize morons : feeble minded Valereum shareholders are being tortured with bogus share trading
  • By Tom Winnifrith
  • 5 days ago
IBST
Ibstock – “trading conditions deteriorated sharply during the third quarter, with weakness continuing”. You were warned!…
  • By Steve Moore
  • 5 days ago
Crime-Scene
Why not name the villainous company? Surely this is insider dealing?
  • By Tom Winnifrith
  • 5 days ago
WCAT
Wildcat Gold shares suspended: has Guild resigned another account? It should
  • By Tom Winnifrith
  • 5 days ago

Sunday »

Bearcast
Tom Winnifrith Bearcast: madness all round
  • By Tom Winnifrith
  • 6 days ago
VLRM
BREAKING: Now Valereum threatens to go legal: I hope to see you in Court bitchez!
  • By Tom Winnifrith
  • 6 days ago
Gold
The View From The Montana Log-Cabin As Gold Plunges Below $3,900: Panic? Never!
  • By Nigel Somerville
  • 6 days ago
Blackboard
Visual Aid: Inflation Rates Around the World in 2026
  • By Darren Atwater
  • 6 days ago
Quiz
The ShareProphets Sunday Pub Quiz #370
  • By Darren Atwater
  • 6 days ago
GEX
Georgina Energy – where is all the cash going?
  • By Tom Winnifrith
  • 6 days ago
Reading
Sunday Long Reads: Victoria & Abert, UAE’s Manchester, AI Bets, Medieval Times, Buenos Aires Heist
  • By Darren Atwater
  • 6 days ago
VLRM
Who is to blame for Valereum suspension? You guessed it, this is another Great British Company brought low by evil TW
  • By Tom Winnifrith
  • 6 days ago
Top-10
Notes from Underground – Most read articles for the week ending October 31
  • By Darren Atwater
  • 6 days ago

Saturday »

Bearcast
Tom Winnifrith Bearcast: Andy Burnham talks bollocks twice and the now certain death of the Valereum $32 billion gold crypto fraud
  • By Tom Winnifrith
  • 7 days ago
ZIN
Bet the ranch on a short, win a Greek Hovel Holiday – entry No 14: Steve Moore on Zinc Media
  • By Tom Winnifrith
  • 7 days ago
ESNT
Essentra – “Q3 2026 Trading Update”, a further positives Buy
  • By Tom Winnifrith & Steve Moore
  • 7 days ago
ECOB
Bet the ranch on a short, win a Greek Hovel Holiday – entry No 13: Fagash on Eco Buildings
  • By Tom Winnifrith
  • 7 days ago
VAST
BREAKING: Brian Moritz walking the plank at Vast, email cock up prompts accusations of fraud, RNS needed!
  • By Tom Winnifrith
  • 7 days ago