broomfielder
29 Sep 2017
RNS - H1 Results I have to confess that I expected more evidence of recovery at this stage in the Group's restructure.Equally, I am aware that in any recovery situation, evidence of that progress does not readily fit into the twice yearly reporting for Corporates. What is much more revealing will be the monthly Management Accounts available to the BoD etc. and the trends that will be clearer in these more frequent returns. At least there is recognition of this from NBB in their covering remarks.The issue then is clearly whether you believe them without being privvy to any real supporting evidence (well there is some within the reported figures but not enough IMO to confirm NBB have truly turned the corner). Clearly the success of today's Placing suggests the II's and related Party shareholders all buy in to its recovery progress/prospects.So there we have it. Phase 2 of a restructure that I dont recall ever having a Phase 1 with yet more fudging of the use to be made of the Proceeds.Perhaps I am being a bit harsh but they are funding losses (again) and with their focus being solely on organic growth, the lead time to ultimate recovery is longer and generally less sharply focussed (than say an aquisition). They make absolutely no comment on market conditions/competitors/political issues etc which are unlikely to have lessened in their impact on NBB for the period under Report and how these headwinds might affect the so-called Phase 2 stage of what seems to be their legthening recovery.A very substantial amount of cash has already been spent on recruiting key personnel and although we all recognise this will take time to produce results, this is precisely why a more substantive aquisition is often considered to shorten the timeline provided you have your own key people in place. Clearly that path has been rejected.My confidence in the new Exec Team has taken a knock with these figures in conjunction with the Placing and more importantly the strategic track they are following.They have less than 6 months to prove the new model works and even then who knows how much longer before we aim for any sort of return on equity. For this kind of investment, we are not looking to stem losses, but to become highly profitable. And they need to deliver.B
broomfielder
29 Sep 2017
Re: RNS Out in full on Money AM etc., but havent chance to look at until later.Look like more Losses and about to raise £1.23m by way of placing. I will post later when I can.B
BOWOOD
29 Sep 2017
RNS They flag up news but nothing appears
BOWOOD
28 Sep 2017
Re: Sellers On reflection I feel the trade at 9.5p may well have been a buy of 65.000 against the earlier sale of 66,000. At 8.5p. May well have been picked up on behalf of a Director to be announced later.
broomfielder
26 Sep 2017
Re: Sellers These sort of people should have their hands tied (figuratively) at least given the proximity of the H1 figures although I am open to correction that this will not be a closed period for many of the extended management.Regardless, all will be forgotten if NBB produce some encouraging results or at least outline steps where we can buy in to this being delivered in the very near future.We live in hope.B
BOWOOD
26 Sep 2017
Re: Sellers There has been several consultants leaving over the recent months (the website is missing a few photos) and of course the CFO has or will be leaving. Perhaps some of the sales are from that source.
broomfielder
26 Sep 2017
Re: Sellers Given the lack of liquidity in this share, further share sales today are noticeable in any case but should the awaited H1 figures disappoint, then in my view either someone is particularly intuitive or more likely aware of some price sensitive info.B
BOWOOD
25 Sep 2017
Re: Sellers I think the one problem was NBES which needed addressing according to the last Annual Report-and it may have hit the half year figures. Like you a seller within days of a trading report does not help sentiment.
broomfielder
25 Sep 2017
Sellers Although fairly modest in number, sellers emerging ahead of the awaited H1 tends to make me slightly uneasy.It somehow goes against the more normal pattern seen with so many Companies where there is buying ahead of news which when released into the public domain often triggers wider selling even perversely if the news is fairly good.Just hope it doesn't suggest a leaky ship with the Results falling short.B
broomfielder
21 Sep 2017
Re: Acquisition Yes, you may well be right.Certainly, as we have said before, something more substantive than organic growth is now needed, so lets hope we are not disappointed with the awaited H1 figures nor indeed with any news we may hear.B
BOWOOD
21 Sep 2017
Re: Acquisition No - Its just that I feel MB needs to grow NBB quickly as the odd bolt on consultant will take forever.Parity are also recovering and have substantial tax losses that could appeal to a buyer. Why raise £300k having recently repaid a similar loan?. If MB wants to achieve his share option target in the period set out there needs to be corporate activity IMO.
broomfielder
21 Sep 2017
Re: Acquisition Interesting - is that info in the public domain somewhere?B
BOWOOD
21 Sep 2017
Acquisition £300k for DD? Could we be buying into Parity before the interims?
BOWOOD
06 Sep 2017
Re: Awaited H1 Results You touched on a people business and perhaps we ought to see a high profile woman joining the Board. Such an appointment could give further marketing skills to both clients and candidates.
BOWOOD
06 Sep 2017
Re: Awaited H1 Results No. I just feel that since MB has been there as CEO he has taken complete charge and seems determined to drive the business forward his way, and from previous comments from him he seeks to build a much larger NBB. I cannot see organic growth as being the answer and the coming together of experienced and high profile names suggests there is and has been a bigger picture. With a M/C of about £6m business combinations look to be the way forward to me.
