Guitarsolo
07 Dec 2015
Re: Old news Dear Grey, Thank you for your emails of today. The drop is alarming to say the least but, as you say, surely the MMs who are more aware of this would have priced this in before today. You mention insurance which is what I do for a living. In fact, more specifically, I investigate claims for stockbrokers and other financial institutions including PI and crime matters (mostly South America rather than UK). Can anyone who knows their way around CNKS' accounts and company information ascertain whether they have a SFIP policy (Securities and Futures Industries Policy) or similar? The SFIP is effectively a mixture of PI, crime and error cover. It would respond to matters caused by negligence or dishonesty - subject to other terms and conditions. Prima Facie, it would seem to be what we have here - he says with minimal information.I agree with Grey's comments that Quindell's auditors should be first in line for criticism and charge.....The NOMAD has to rely on audited information to check that it should be released to the market by RNS but doesn't compile the information. There could be reputational damage to CNKS but I can't believe in the world of stockbrokers there are many that haven't occasionally become embroiled in the odd mini-scandal. GS
casabanker
07 Dec 2015
Falling knife I've bought in three times today and caught the falling knife. The sp was about 160 and I placed a limit order at 150 thinking it wouldn't be filled, lol. I am not selling on a knee jerk reaction and wait to see if there is any reasonable bounce. The issue for me now is how this will affect CNKS's earnings going forward and how it will affect the dividend. It's looking like a value trap and the directors that have sold a good proportion of their shares probably knew this fall was coming. Feeling foolish, Casa.
Greyinvestor
07 Dec 2015
NW Bio This is the guy who has been suspended on pay by CNKS. Again, I'm not sure how he can be slaughtered for something that the Chief Exec is alleged to have done, but I'm no expert........Bethesda, Maryland, April 17, 2012 – Northwest Biotherapeutics (OTC Bulletin Board: NWBO) (NW Bio), a biotech company developing DCVax® personalized immune therapies for cancer, is pleased to announce the addition of Dr. Navid Malik and Mr. Jerry Jasinowski to the Company’s Board of Directors. These new members bring to the NW Bio Board longstanding, deep experience in the life sciences industry, advanced manufacturing, and corporate operations and governance.Dr. Navid Malik is the Head of Life Sciences Research for Cenkos Securities Plc. in the UK, and has been one of the most influential analysts in the UK and Europe over the last decade, covering the life sciences industry worldwide. In 2011, Dr. Malik was awarded two Starmine Awards (awarded each year by Thomson Reuters and the Financial Times): Number One Stock Picker in the European Pharmaceutical Sector, and Number Two Stock Picker in the UK and Ireland Healthcare Sector. Dr. Malik has built life science teams and franchises at multiple large financial institutions in London, which completed IPOs and secondary stock offerings for small biotech and life sciences companies totaling over $700 million in recent years, and which also initiated research coverage on dozens of small life sciences companies in addition to covering large pharmaceutical, biologics and healthcare companies. Dr. Malik holds a PhD in Drug Delivery within Pharmaceutical Sciences, as well as degrees in Biomedical Sciences Research (M.Sc.) and Biochemistry and Physiology (B.Sc., joint honors). Dr. Malik also holds an MBA in finance.
Greyinvestor
07 Dec 2015
Old news This is bad news but it's also old news. Of course CNKS is going to have to hand the files over. The question is, how involved were they in the insanely aggressive accounting policies at Quindell, and did they do their due diligence properly ? They are entitled to rely on accounts that have been properly audited, but they are also responsible for checking that directors are fit and proper people to run a PLC. They should also have heavyweight PI insurance. I think that the directors of Quindell could scrape home as being acceptable, because they hadn't actually been disqualified and presumably did not have criminal records. I would never have bought the shares though, they had a poor track record. It's a difficult one, CNKS will probably get slapped wrists, but were they actually the bad boys? To my mind the auditors are first in line, then the directors, and finally the NOMAD.Of more concern is whether NOMADs are still floating duds. Hopefully they have cleaned their act up, but a few really bad companies are still finding their way onto AIM, especially foreign companies, the accounts of which can never be properly verified. In my view AIM should be a market for UK companies only.My view of the share price? It's unfortunate, but I felt that the bad news was already in the price. Maybe I'm wrong, who knows. I feel no great urge to sell, though. But DYOR.
bobloh
07 Dec 2015
Re: Director dealings Yesterdays Paper guys:[link] CENKOS, the stockbroker embroiled in the Northwest Biotherapeutics controversy, has been dragged into a fresh row over Quindell, the insurance services company that faced questions over accounting and directors’ dealings.Cenkos was “nominated adviser” to Quindell, the former stock market darling being investigated by the Serious Fraud Office (SFO) over its “business and accounting practices” .It is understood that the broker recently handed over a cache of documents to the SFO.... "
Damp Seaweed
07 Dec 2015
Re: Director dealings A drop of 15% is a heck of a lot for just a few Directors sells.Maybe the price has held up for the last few weeks due to the share buy back ?Hope it is nothing else that the poor old private investor will be last to find out about
casabanker
07 Dec 2015
Re: Director dealings I've used the fall in sp to buy a few more shares in CNKS but may have been too quick off the mark as it's now fallen some more. Investors treat substantial director share sales as a red flag, particularly in nervous times as now. I suspect the sp will stay subdued until good news is announced - fingers crossed.Casa.
Greyinvestor
07 Dec 2015
Re: Director dealings I agree re AIM. I think that shareholders will become a lot more discriminating as the market turns down.My holding is about 4% of my portfolio, so similar.I am mystified by why more institutions don't buy into this one. I'm guessing it's because of the dud flotations plus Daniel Stewart's(near) demise. But the financials are really strong for this firm, and management has serious skin in the game.
Broncomaniac
05 Dec 2015
Re: Director dealings Hi Grey, AIM certainly comes in for some criticism and deservedly so. Mainly for the poor long term performance but also the lax corporate governance in some cases, I am still bitter about my Quindell experience! There may be enough vested interests for things to stay the same, but I hope for the good of investors that there may be some tightening of regulations. Any organisation has to adapt to survive (well apart for a few exceptions which I won't mention). Perhaps AIM may introduce some kind of special class of AIM companies that volunteer for greater compliance and demonstrate higher levels of corporate governance. The future of AIM relies on new listings, but they will only be subscribed to if there is appetite from investors. I'm rambling a bit here, but enhanced regulation should be an opportunity for Cenkos to increase earnings, provided they are not pushed out by bigger advisory firms, and provided that enhanced regulation doesn't kill off AIM.Either way, I think provided that Cenkos closely monitors the market trends and adapts appropriately they should be fine. My feeling is they are a small enough company to respond quickly. I view this as a long term hold, with a nice juicy dividend that will be reinvested, but I'm not going overboard, my weighting is around 5% which is average for my portfolio.
km1
05 Dec 2015
Re: Director dealings Appreciate your comments Grey, similar to yourself I invest for the long term and income and was put of buying more when I seen these events.regards.
Greyinvestor
05 Dec 2015
Re: Director dealings Nothing to worry about. The company has just bought back 7% of it's own shares. Some of the directors, the ones with the big holdings, chose to sell 7% of theirs. Therefore they now have exactly the same percentage shareholding. Ignore the Smith & Williamson stuff, they did the buying of the shares.The 7% has now been cancelled, so from now on the same level of profit will improve EPS by 7%. I chose not to sell any shares. the look of it, neither did Invesco, who own 15% and are always a good judge of value shares.To my mind all that matters is the long term health of AIM flotations or fundraisings. It is this that the company depends on. It is a highly cyclical business, and the froth has already started to dissipate, following a number of dud AIM flotations, and poor long term performance of the market. Having said that, these shares feel like a good long term investment, and I'm staying in. I have substantial holding. But DYOR.....
km1
04 Dec 2015
Director dealings Some large director sales of CNKS (see below) taken from HL website and the SP down today.Any thoughts on these events? 24 Nov 2015 Hodges, Paul Executive Director Sale 390,115 £1.80 £702,207.00 424 Nov 2015 Durkin, Jim CEO Sale 379,035 £1.80 £682,263.00
Guitarsolo
13 Oct 2015
Re: Bought in today I've also bought in today with a first tranche of 5,000 shares. The divi is very attractive and I hope to repeat my investment in CLIG which also had a 10% yield when I bought in but the SP has since risen over 50%. The fundamentals look good but I would assign this to the more risky end of my portfolio - designed to give a boost to the overall yield but acknowledging that it is less secure than other investments. Still, the cover at the moment is over 2.0 but I guess that this is due to abnormally good returns over the last 12 months. GLA Guitarsolo
coldascheese
22 Sep 2015
Re: Bought in today Kat -you bought at right time here-well done.Looking at results the second half of last year was not very good but the second half of THIS year could be much better.Overall it could well be that they can match or exceed last years full results with what they have in the pipeline-still looks an excellent buy.
MrMeerkat
22 Sep 2015
Re: Bought in today Woohoo! It isn't often that my timing is so lucky. It's certainly encouraging to see that these results really compare quite well with last year, which was so exceptional.MM
