pumstock
05 Jun 2015
Re: Investec out Not out. No shares sold. Internal reorganisation.Re LSL. See RNS this morning
sunsandandoil
04 Jun 2015
Investec out Judging by the list of major shareholders on FIH website. Investec sold their shares on behalf of L S Licht, who was a long time original investor in FKL. He obviously did not like the new direction of FKL, especially the dividend suspension and appears to have sold his entire holding. We still have major shareholders who are now all investment funds, namely Blackfish...Fidelity and Argos. It is entirely understandable that a private investor of old disagree's with a change of management direction. We should worry if the major investment houses pull out, but for the time being, I will wait and see what transpires before pulling the trigger.....which I could live to regret. GLA
Ekati
04 Jun 2015
Investec out Investec Wealth & Investment Limited sold their shares. Voting with their feet?
smashed crab
28 May 2015
Re: Has Rowland it right? The sale of FOGL now looks like a prudent move. Sure; FOGL value will out, but when? FKL are positioned nicely for a picks & shovels play. Some interesting thoughts on Mr Rowland but hopefully he will now shed some light into the dark corners. Interesting times!
Ekati
28 May 2015
Has Rowland it right? when he sold FOGL. Very good news from FOGL but not to see in sp.Good news for FKL too. Are the better returns to achieve on the mainland?greets,
El Kel
14 May 2015
Re: Interview with Edmund Rowland Chairm... A not unreasonable, alternative view El Kel. As a matter of interest, do you still hold any shares?If you owned 20%+ of the shares...---------- ------corrie - thank you for considering my reply.Yes, unfortunately I do personally still hold a fair few shares. I also manage SIPPs and ISAs for family members with fkl holdings and so am in an accountable position.I am extremely concerned with the company's current poor management which has driven down the capital value of my investments and removed the dividend return to boot.Even if I had the money, I would not hold 20% of a company like fkl. Far too much risky exposure to the FIs for such a proportion.However, if I were of a similar ilk to Rowland, I expect I would be doing exactly the same as him and laughing all the way to my own personal bank - Banque Havilland (Monaco, Liechtenstein, Bahamas...).Meantime, here's a graph to show how fkl's BoD has inreased shareholder value since the last share placenebt raised additional capital.(Btw, Rowland is also Chairman of Momart. How cosy.)
corriedog
14 May 2015
Re: Interview with Edmund Rowland Chairm... A not unreasonable, alternative view El Kel. As a matter of interest, do you still hold any shares?You are not prepared to give Rowland the benefit of the doubt and I am. Lets see the first acquisition.Apart from the complete cancellation of the dividend, I don't disagree with the strategy. If you owned 20%+ of the shares and had paid 320p, wouldn't you want to do something to get the company moving.
Ovets47
12 May 2015
Re: Interview with Edmund Rowland Chairm... I would agree that recent actions have probably been to enable growth of the company, rather than trash the share price, which is potentially positive.However, communication has been terrible and even if using the excuse of being unable to disclose sensitive information (which everyone knows and understands), it doesn't excuse making such a pig's ear of it.If a new chairman wants to make some sort of dramatic gesture of his business acumen, part of that is also to ensure that shareholders and the market generally has confidence that the guy knows what he's doing, etc., etc.Rowland bRat has so far completely failed to do this.
corriedog
12 May 2015
Re: Interview with Edmund Rowland Chairm... I have quite a lot of shares in this company as a private investor. I have had exchanges with the new Chairman to get a better handle on the prospects.The shares have gone down because there is a wide spread, illiquidity in the shares and a few sales post the dividend cut have moved the shares down disproportionally.The Chairman told me 'We took the view that the additional resources remaining in the company by stopping the dividend will allow us to accelerate growth by enhancing our cash resources and borrowing capacity. This will then enable us to reach our goal of significantly increasing the market capitalisation of the company to the benefit of all stakeholders, both in terms of share price and share liquidity'. Very sensible.The CEO has been FD of two other listed companies. The finances are managed competently.The brokers' note was a buy at 282p and a target price of 450p. Projected pre tax profit for the current year without any acquisitions/sales is £3.7m. The enterprise value to the EBITDA (CASH PROFIT) is only 5.4, which is very low for such a company.The first acquisition will tell us a lot but I think that some PI's are looking for problems where none exist.Ps I have not met Rowland and am only connected with the company as a shareholder.
TX2
12 May 2015
Re: Interview with Edmund Rowland Chairm... Blackfish aka Rowland interests have just over 20% of the company;they cannot increase their interest above 29.9% without making a takeover bid which is unlikely to have success at less than 350p+,and in any case have shown no sign of wishing to increase their holding above the present level.I am not sure that a deliberate trashing of the shareprice has taken place,merely actions have been taken that presently make the company less attractive to investors.Obviously 79% of the shares are not owned by Blackfish;we do not know how the two other larger funds who own 11% feel for example let alone 68% other parties,including ourselves,will react in the longer term.I suspect the management could come under pressure if it does not deliver,with only 20% it is not quite the same situation as in some smallcaps where management holds 40%+ and has a job for life,FKL has a fairly stable shareholder base and could act in its own interest if needs be.I have some sympathy with the basic opinion of present management that FKL has to grow its business & profits to become a more attractive/valuable investment entity.It is just that it has got off to a rather bad start by inflicting pain(no divis) with no gain yet from increasing its business.I hope Rowland succeeds in due course and we all benefit and non management shareholders will be able to support him.
Kez1985
12 May 2015
Re: Interview with Edmund Rowland Chairm... I've held a lot of these shares for about 5 years and was expecting to have long since doubled my money so I am as frustrated as anyone by the drop in SP and divi cut but I don't understand some of the comments being made - Anything that benefits some shareholders will benefit all of us, so anything "in the interests of blackfish" etc will be in the interests of us all.Also, the management must be making the decisions that they are FOR A REASON.Obviously they are seeking to accumulate cash, and obviously they have done two things that have trashed the SP:1. Stopping the dividend2. Deliberately not communicating the details of their plans.This can't just be stupidity, in my view they obviously want the SP to take a dive and for individual holders to jump ship. Why would they? So they can increase their own holdings on the cheap to benefit from whatever the long term plans are.To me this has all the signs of a deliberate trashing of the sale price in a very healthy company with excellent prospects.For this reason, I won't be going anywhere and in fact I will genuinely be raising my holding in the next few days. Or am I badly missing something??!
Ovets47
07 May 2015
Re: Massive sell today.... Don't think so - look at the prices.Much more likely a transfer of 320,000
sunsandandoil
07 May 2015
Massive sell today.... Massive 640000 sell today.........5.13% of the company......the RNS will be interesting. It could only be Fidelity investments.......or Blackfish?.......anyone else getting worried! GLA
El Kel
07 May 2015
Re: Interview with Edmund Rowland Chairm... El Kel, I don't believe you read what I wrote,---------- ------Ovets - I read what you said very carefully. You are giving Rowland a modicum of credibility and I give him none, that's the difference in our opinions. There is no bod taking decisions of any relevance, it's all being controlled by Rowland and rubber stamped by the bod. Rowland is the only person you hear from now he's axed two directors and taken over. Even the recent short three line press release had two grammatical errors. Why? Doubtless because the brute Rowland wrote it himself, not their pr advisors. Rowland has plenty of experience, unfortunately it's asset stripping experience. I honestly hope you're right. My heart wishes it but my head firmly disagrees.
Ovets47
06 May 2015
Re: Interview with Edmund Rowland Chairm... Oh yes, what I also meant to add is that Rowland bRat probably knows very well what he's doing, but from the outside, to many, FKL could appear to be run by a BoD that's a bit inexperienced and hence the share price.
