Roger Baron
12 Dec 2014
Re: Board cover up rebellion presumably wasn't you who just bought 422,000 shares at 43p then CM?
CaptainMultibag
12 Dec 2014
Board cover up rebellion ADVFN:"AGM finished this morning and a reliable source has told me that the Board lost a couple resolutions as there was a multi-institutional rebellion. 100s of millions of shares voted against a couple Board recommended resolutions, to restrict their powers. Looks like Board has decided to cover up this public domain bad news until late in the day. Expect RNS nearer or after 430. AiM rules require prompt publication of AGM votes but hey EPO's board dont burden themselves with such things, rules, ethics etc. Every other company admits the AGM vote within minutes. EPO board want to cover it up for hours....The December 2013 RNS on the AGM resolutions was announced at 13:12 that day. But for 2014, EPO is 2.5 hours later and counting...Aside from poor ethics and wanting to create a false market in the shares, why are the Board doing this? The share price on the AGM last year in 2013 was 43p. So, as a matter of fact, EPO has been a bad investment this year. No dividend, no capital gain. That is poor for a supposed breakthrough year in a bull stock market."
CaptainMultibag
12 Dec 2014
One slide too many? It is clear that one (I think /Henderson) or more institutions has been providing price support at the 40p level when it slides down there. Presumabl it only takes one large holder to lose faith, sell into that price support, and the price will free-fall back toward 11p when Uberoi took over as 5x as many shares in issue.Core revenue to 30-6-14 was only c£7.5m. So valuation is at 25x core revenue. Baydonhill fx admin house was bought for c£5m is not worth more than that. When the price support is breached, this will drop like a stone i.e. price correction.Accounts said nothing about trading in first 3 months of this fiscal year to 30 June 2015. That silence is new. Dire warning signal. Interims 6m to 31 December 2014 are likely show revenue fall from 6m to 30 June 2014. That filthy news would test the price support, and likely bust it.EPO tanked 85% in 2009 having been puffed up, and is well set to do that again imho.
CaptainMultibag
12 Dec 2014
Re: Audit problems? Management options run for 7 or 8 years so it is wrong to suggest they were running out. Thew Diurector o finance sold 40% of his options shares as he was happy to take 41p for those option shares. He holds no shares so selling 40% was a big exit for him. Ex management have been bailing through the year from their options. Signs of low or no confidence in current valuation.
Roundish
09 Dec 2014
Standard Chartered Great name and a great endorsement.Nice job EPO.
