cosmos
19 Mar 2018
Nb: Not one of mine but SGI is an example of a business that seems to have cheated insolvency multiple times in recent years. Again. Let's see...
cosmos
19 Mar 2018
Another Jacko - It doesn't look great I grant you. They are clearly hanging on by a thread. BUT there is a scenario where they get a covenant waiver from the banks (not impossible as banks ultimately don't want any business to go bust and have to take a full write down), pulp prices stabilise, FX hedges roll off, and they agree sustainable prices with their customers. Perhaps far fetched but not impossible. Today's RNS just underlined for me that the decisions taken by the original mgmt team were obviously of the highest orders of incompetence. When coupled with spiking pulp prices the result was toxic. But new management team is clearly doing all it can in difficult circumstances and will go down fighting. Also if some of the aforementioned indicators start moving in their favour and they need a cash bridge there is always the scope for them to try a rescue rights issue before they throw in the towel. As always time will tell. But they are not completely done yet...
Another Jacko
19 Mar 2018
Oh Dear Looks like this is going bust now.
cosmos
08 Feb 2018
Nice signal. Exec Chairman has bought 215,168 share in the last 2 days (7/8 Feb) taking his total holding to 0.32% of the company. Famous last words but with input prices peaking and GBP's recent strength against the USD perhaps we really are though the worst. One can hope...
cosmos
22 Jan 2018
PIE-EATER. With the greatest respect I couldn't disagree more. What did you expect - a miracle? Sadly this isn't Fevertree but a low-margin, own-label tissue producer. There is only so much that can be done in the ST, particularly around topics such as the forward FX contracts. That being said and taking into accounts all the limitations of the business model I think the CEO gave comfort that the ship is being steered in the right direction. IMHO anyone who stayed the course so far would be mad to sell at this point. Barring any further exogenous calamities (GBP collapsing, reel prices rocketing further) there is some significant upside risk here. Bear in mind the business that EBITDA in the previous 2 years was c. £15m. At the current level the business is trading around 3x that figure. Assuming a mid-term recovery back to this level would make the current valuation a bargain. Is it high risk - absolutely. But we know that. Has today's announcement increased the level of risk. Absolutely not...
PIE-EATER
22 Jan 2018
SELL.....Todays news Well, if I HAD hung on in the hope of light at the end of the tunnel, I would have been severely disappointed in the news today.........struggling to find the tunnel walls let alone the light switch!'Whilst the Board continues to expect a small loss at the adjusted EBITDA level for the financial year ending 30 April 2018, the Board is comfortable that the Group will continue to operate within its borrowing covenants while work on the turnaround continues and the directors look forward to the longer-term future of Accrol with confidence,' Accrol said in a trading statement.Oh dear!
PIE-EATER
03 Jan 2018
Trades...sell A chunky trade £150k sell @ 35p just gone through..........really doesn't bode well for current holders. Will be interesting to see over the next couple of days if there is an RNS if this is one of the major supporting funds selling down ahead of interims.PE
PIE-EATER
18 Dec 2017
Re: Placing - PR Just glad we are aware of what actually happened.Milton can come out of the 'naughty corner" PE
Phillip Reid
17 Dec 2017
Re: Placing - PR Hi P EYou are correct. I read the RNS carelessly - on looking again I see it says that the reason for change is marked up as 'An event changing the breakdown of voting rights' and the date ties up with issue of the placing shares.Regards
PIE-EATER
17 Dec 2017
Re: Placing - PR Hi Phillip,Are you sure re Miton?The way I read it, their holding was reduced by about 3% but the number of shares was the same. The change coming about not by a sale or disposal but by another event....effectively the placing. More shares so the same number gives a lower % interest in the company.This was the reason I posted to say it was fairly easy to see who had taken up the placing and who had not.....Miton had not.I could be wrong....?regardsPE
Phillip Reid
15 Dec 2017
Re: Placing There was an RNS yesterday that the Miton Group had reduced by disposing of about 3 percent of stock.Regards
PIE-EATER
15 Dec 2017
Re: Placing Easy enough to see.....just keep an eye open on holdings RNS (if memory serves there were several major shareholders.....just see how their holdings have changed)
PIE-EATER
12 Dec 2017
Re: Placing In some ways it could possibly be argued they had little choice. If they already held significantly and did not support the placing then after suspension it may not have been 40 / 41p but 30/31p and because of their existing holdings may have lost more. In some ways I suspect they were duped like the rest of us and between a rock and a hard place going forward.PEp.s. is anyone else currently having difficulty in accessing the opinions for strong buy to strong sell?
AndyRB
12 Dec 2017
Placing So the directors stumped up £200k which is now worth £150k , I wonder which institutions were stupid enough to put up the other £17.8 mil which is now worth just over £14 mil . I'd like to koow so I can avoid them in the future!Better stockpicking next year I hope.
PIE-EATER
12 Dec 2017
SELL - inflation Can't access a buy / hold / sell feature so in the title!Todays inflation figures bring matters back into focus, not least because of the increase in spot prices for oil and gas which will lead to higher input costs. Not being able to push through price rises was one of the major challenges which befell ACRL. Combine that with a price 20% below placing (ignore the 43p as that's just for show and fools) and the new Board members must be wondering what the heck they have got themselves into.PE
