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QPP melrosian 26 Nov 2015

TX2 & Spike Why dont you talk to a lawyer about the impact . I have. He is a fellow QPP investor.Blowing the business model ? Trite and silly nonsense. The core business is motor claims - unaffected. The Industrial Injury and HL Claims business needs expert medical and legal help toprocess. Awk Tamson is not going to pitch up with a small claim anyway. too complicated and he would get nowhere. The HL Business was sold for zero. No change. Motor Claims - No changeAny irriot knew that WIP investment carried on till the cash generative bit ( So post acquisition 1st six months cash negative) and 18 -24 months per case at 44% margin. Well they have had all of 10 months since due dilligence on WIP began......they knocked the price down from £1b to £0.65B As you try to misrepresent things - note that if you really want to frighten people - get hold of the covenent terms in the SGH lending . It is just possible there is something in the covenant which relates to the Market Cap......but the lender and the SGH board will have seen you on the horizon and borrowed an amount sufficient to deal with WIP and new cases. Eagle does not like borrowing. I do......it is non dilutive and if matched to an income stream is quite normal. If it is kilter with earnings stream ....borrowing is best. I see noting which changes expectations of £0.25 Billion PBT earnings for SGH over the next 2 years,Now that Slater Gordon Market Capitalisation is £160 Millions, ( QPP £455M)....we all know how much cash they have)...... the notion of a merger of QPP and SGH ( which started as a bit of fun/wordplay/ highlighting what we gave away) would get shareholders to the point where the combined merged group could expect:1 A$ 591M PBT spread over the next 2 years ie £282M after 2 months negotiations.Not all a stupid idea,What was that I heard Rose say about delivering value?Mel

BVS Eadwig 26 Nov 2015

Re: Copper piping? I'm not an expert, but I believe the biggest component of solder is silver, it is certainly referred to as 'silver solder'. Surfaces to be soldered used to be prepared with some sort of cleaning solution beforehand, if you could be bothered. There may be some lead in solder too, but perhaps being mixed makes it inert, like the mercury amalgam in your fillings?The EU and US standards for all water and gas piping within houses are copper of different diameters to they can easily be told apart. I'm not sure what else you would use? Even some plastics degrade at a microscopic level quite quickly leaving little pockets that are ideal places for bacteria to collect and grow. This is why you shouldn't continually re-use the same plastic bottles for drinks, unless you know it isn't one of these plastic types. You can tell if it is by the number in the center of the recycling symbol. As I can't remember which they are, I only re-use glass bottles for cold drinks in the fridge etc.Eadwig, who grew up in a Victorian house attached to the fresh water mains by a lead pipe - until the water board (York Water Works) dug up the whole street and replaced them all around 1970.

LGO Wheelzter 26 Nov 2015

Good call Dave

CHRT r21442 26 Nov 2015

Latest IC comment Aim-traded shares in small-cap UK defence company Cohort (CHRT:418p) look poised to test their record high of 432p hit earlier this month after the company announced yet another contract win yesterday.In the past few months the company has won a contract worth in excess of £3m for the provision of Electronic Warfare operational support services to an export customer, and another worth £11.2m with the Ministry of Defence (MoD) to provide the armed forces with tactical hearing protection systems for the dismounted close combat user. The latest award this week is a two-year contract worth £9.7m under which Cohort's defence consultancy division will provide training and exercise support to the MoD's Joint Forces Command. Cohort has now won five successive tenders with the MoD specifically for this type of work in the past 15 years, so I wouldn't bet against the MoD exercising its option to extend the contract for another two years as well.The contract starts in April so will have minimal impact on forecasts for the current financial year to end April 2016 when analysts expect Cohort to report a 17 per cent rise in revenue to £117m. On this basis, expect pre-tax profit to increase from £10.2m to £12m to produce EPS of 22.6p in this 12-month period. However, the growing order book is clearly highly supportive of forecasts for the 2017 financial year (April year-end) when analysts expect Cohort's revenues to rise by 13 per cent to £131m and boost pre-tax profit by a further 18 per cent to £14.2m to generate EPS of 26.2p. On this basis, Cohort's shares are rated on 16 times earnings estimates for the 12 months to the end of April 2017, but with order momentum building then the risk for an earnings beat is increasingly likely in my view.That's because I now estimate that the latest award takes the order book above £150m, but this excludes the pipeline of work - valued at €35.2m (£23m) - which EID, a Portugal-based supplier of advanced electronics, communications and control products for the global defence market, has in its order book. Cohort announced the acquisition of EID in the summer and I covered the deal at the time ('Acquisitive growth drives re-ratings', 6 Aug 2015). The transaction is expected to complete in the coming weeks. Bearing this in mind, analysts believe that EID should be able to turn in operating profit of £1.3m on revenue of £12.7m in the 2017 financial year, so well over half the forecast uplift in Cohort's pre-tax profit for that period is covered by the contribution from EID. Moreover, the cash consideration of £11.8m payable on completion is now completely covered by cash on Cohort's balance sheet, thus avoiding the need to tap a new debt facility of £25m.Importantly, this means that Cohort's board has ample capital available to fund the spate of new contracts, and tender for new work too, so there are no working capital constraints. It also means that if Cohort continues to convert its tender pipeline into firm contracts then the profit increase embedded in the aforementioned forecasts is going to prove far too conservative.In the circumstances, it's hardly surprising that investors have been warming to the investment case. In fact, Cohort's shares have almost doubled since I initiated coverage at 214p ('Blue-sky buy', 6 Oct 2014). But given I feel that this earnings cycle driving the re-rating is yet to peak, I would resist banking profits and recommend riding the upward momentum in the business. Run profits.

WRES supeman1 26 Nov 2015

go on son

ZOX popes11 26 Nov 2015

Andrew Woollett Andrew Woollett has 3.3%. Wonder if he will be averaging down.

CBUY GENG 26 Nov 2015

Worth a punt at these levels? There's a bit of smoke an mirrors going on here.Pasternak sold these over two weeks BEFORE Roberto Sella increased his holding. Also Pasternaks sales were only few days after re-listing - but much later reported.6-7p looks to be his purchase area - Wait for the next Sella holding RNS 12-15%+ ?Still a gamble but 5-6p looks like a good punt for me

APH pharmaspecialist 26 Nov 2015

Deal looks good but price looks high So this was the much awaited deal. From a strategic viewpoint the deal with Sinclair Pharma looks good to me but the question is whether the price is too high? The press release suggests that the cost of the deal should start to be covered by returns provided in 2018. However, I wonder how long it will be before the deal becomes truly accretive to earnings. The press release on the Alliance web site refers to it being accretive to earnings for the year ending 31 December 2016, whereas the full press release on Interactive Investor refers to it being accretive to ADJUSTED earnings for this period. There can be a big difference between non-adjusted and and adjusted earnings so I wonder which version is true? I am pretty sure the latter is the correct version as I am sure the company can make it accretive by adjusting the definition of its earnings. Sinclair's CEO & Chairman are from the financial sectors so I can understand why Alliance may have more expertise and motivation to exploit Sinclair's medical products. I can also understand why Sinclair's CEO, Chris Spooner, would regard these medical products as boring in comparison to Sinclair's racier aesthetic products as he was a hedge fund manager and they always like a bit of excitement! In other words I think the medical products may well do better in Alliance's hands and John Dawson has plenty of his own money invested in Alliance so I am sure he would not have entered this deal lightly. On that basis I will remain a shareholder but Alliance has certainly upped the ante. Let's see that debt paid down as soon as possible please. Any other opinions?

ZOX popes11 26 Nov 2015

Money to dust In the end looks like ZOX has only been successful in recycling money into dust.

ZOX alan G4 26 Nov 2015

Re: Placing Yes HPC, unfortunately its just the reality of the current markets.Hope it works out for you.

HLCL Johnoooo 26 Nov 2015

Mike Slade The day has finally come for Mike Slade who has run the business since its inception to step aside. At least he will remain as chairman and Gerald Kaye has been there 20 years so effects will be limited.

CAD desertprincess 26 Nov 2015

Re: CAD included in special permit stop orde... Where does it mention Cadogan? None of these fields are related to CAD.

WRES jaja 26 Nov 2015

second wave is coming

QPP TX2 26 Nov 2015

Re: Slater & Gordon Car Crash! I gather under the new changes between 80 & 90% of the claims will cease to exist in the form that could generate income for compensation lawyers......still George has not "outlawed" shareholder compensation claims yet.......So some work may still be available for your legal friends.

QPP spike501 26 Nov 2015

Re: Wow Mel,Weren't you making the same sorts of predictions for profitability and dividends on QPP a while ago?Slater and Gordon operationally burned through about $40million of cash in the first half - to meet forecasts from Edison they must completely turn that around at generate around $250million of cash in H2 - read what the analysts outside of Edison think the chances of that are.Then yesterday their business model in the UK just got blown up in the budget - so even if they do somehow acheive the figures they are talking about they are not going to pay out large dividends and they are not going to be valued on the previous PEs they acheived because that revenue will simply not be acheivable in the future.