ookyfly
16 Dec 2016
Buying in I see that John Stsnislaus Radziwill's company, Basic Management Company, bought another 500,000 shares a couple of days ago and now owns just over 10% of RCN shares. I take this as a major vote of confidence.
ookyfly
16 Dec 2016
SP Sp is very slightly up this morning. Have we hit bottom? On any mid- to long term view RCN is a bargain.
theprior
15 Dec 2016
Re: RNS Clearly the business is profitable, just not as profitable as we were led to believe. The swift action of the board in putting remedial action in place has done much to restore confidence. It's unlikely that we'll be back to £1.60 anytime soon but £1+ is likely by the time we get FY resullts in the Spring.Luck all.TP
ookyfly
15 Dec 2016
Re: RNS Dutchman,Best of luck. I hope your analysis is wrong. If it's right, why so much ii support and buying by internal elements (both no doubt with an unsentimental eye on the bottom line)?I'm sticking.Ooky
The Dutchman
14 Dec 2016
Re: RNS You may well be right, the business does have recurring revenue, but how profitable is it really? Certainly nowhere near as profitable as we all thought six months ago. The write down they are now taking as a result of the 'accounting regularities' [aka 'manipulation of profits'] is in effect profit they previously declared which didn't exist, or losses they didn't recognise. So I suggest you take this loss, spread it back over the last 5? years; now this doesn't look like such a profitable growth company does it.Also note how the RNS focuses on adjusted EBITDA ( or some such nonsense), in other words profits once we ignore the interest we are paying, once we ignore depreciation on anything we have bought ,and once we ignore goodwill we have had to write off as we realise that we have **** up on some acquistions, and I think it adjusts for a few other pieces of bad news as well.Understandably the CFO and others have gone, but it cant only have been them who knew what was going on. Surely someone ( CEO, Chairman ?) must have wondered how they could be agressively chasing new business and yet the finances were holding up. Didn't anyone think to wonder "Is this all true? are we as good as we think we are?" or did they all fall for their own hype. Whatever happened it wasn't spotted by those who should have been more alert.As for the role of the auditors, I despair. I hope we can look forward to litigation against them and a disciplinary case brought by the regulator (providing it meets their hurdle criteria).It may be that someone takes this lot over - after all the ongoing revenue is of some value, but unless this happens I could imagine that any further bad news will lead to an exodus of clients. It's difficult to move your IT infrastructure provider at short notice, therefore not surprising that few have apparently left, but maybe more are getting themselves in a position to leave at short notice should things deteriorate - I know I would.For me the risks outweigh the potential gains and I have realised my capital losses to offset them elsewhere. Having now disposed of my shares to invest the remaining 40% somewhere safer - Vietnam anyone? I won't visit this board again so good luck with your investment.
theprior
14 Dec 2016
Re: RNS I've had a little top up today for the mid term. The fundamentals are sound, with a £9m profit for the half year the debt will soon be under control. spring I reckon the digit will be back. Recurring revenues form a large part of the business and there have been a good deal of new clients signed up. This new dip is a prime buying opp.
ookyfly
14 Dec 2016
Re: RNS I wish I had noticed the rns when the sp was down 20%+. 0700 is a more standard time to issue them.Nevertheless I bought 37000 this morning, partly to avoid iht.
The Dutchman
13 Dec 2016
Re: RNS Doesn't look too bad does it ?? The RNS is clutching at straws with the reference to no theft -- what did you imagine might have happened, the staff stealing the goodwill or burglars breaking in and stealing the contracts. The size of the write off means, in effect, that no profit has been made for the last few years. What sort of PE ratio can now be justified I wonder.I think it was Jim Slater who reccommended this, may he rest in peace.
ookyfly
13 Dec 2016
RNS Doesn't look too bad, but WDIK? At least no fraud. Cancellation of interim divi was to be expected.No doubt the sharp drop in sp this afternoon was to be expected - and greatly overdone.
LoveMusic
05 Dec 2016
Re: Institutions Well, there's the answer: today!
LoveMusic
03 Dec 2016
Re: Institutions And another 500,000 shares bought. Basics Management Co. this time.I wonder when this share is going to get away from the 89-92 range that it is currently stuck in.LM
happyzone
23 Nov 2016
Re: Institutions Am I reading this incorrectly, but according to RNS releases over the past two weeks, institutions have purchased 72% of the shares of RCN...?! Where is that volume coming from..?!
LoveMusic
10 Nov 2016
Re: Institutions Thanks Old Wise Owl,As I suspected. I got some myself yesterday based on that assumption.Cheers,LM
old wise owl
09 Nov 2016
Re: Institutions It looks way oversold and so institutions picking up shares on the cheap. Vulnerable to an opportunistic bid at these prices so potential 50% upside in short term.That's my view and price strengthening so it's playing out at mo.
LoveMusic
09 Nov 2016
Institutions Can anyone tell me if there is any particular reason why there is - or seems to be - so much institutional interest in Redcentric? Or is this level of interest not unusual? Or is it just a bit active now on account of the recent scandal?Thanks,Love Music
