LSELondon South East
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LOK oldjoe1
25 Oct 2015
LOK, worth a further LOOK. LOK Lok N Store (storage company)One which warrants further research, especially looking at the increase in volume on friday. Had good results just recently and not over priced going forward. [link]
SER Mars_2050
25 Oct 2015
The Times - SER faces delisting Ex-criminal Daniel Levi’s oil firm Sefton faces delistingOctober 24 2015 RBS has told Sefton that it will cancel its account if it is delisted An oil company whose former executive chairman and self-proclaimed one-time “hardened career criminal” successfully ousted directors in a boardroom coup faces being delisted from the London Stock Exchange.Daniel Levi, who changed his name from David Hopkins, having been convicted of armed robbery, and associates had requisitioned a shareholder meeting last month that proposed replacing directors of Sefton.Two directors quit before the meeting and Allenby Capital, the AIM-quoted company’s nominated adviser, has now resigned, triggering the suspension of trading in its shares.Under AIM rules, the shares will be cancelled unless a replacement nomad, whose job it is to help the company to comply with exchange rules, is found within a month.A source close to Sefton, which has been exploring other listing opportunities, said yesterday that it was unlikely a new nomad would be appointed.Royal Bank of Scotland, Sefton’s main bank in the UK, has also told the company that its account will be closed if trading on AIM is cancelled.Mr Levi stood down as executive chairman in April after Allenby Capital confronted him with questions over his change of name. The Times reported in July that he had failed to disclose his criminal record to Sefton’s shareholders, in breach of exchange rules.Mr Levi was behind the downfall of Jim Ellerton, Sefton’s founding executive chairman, two years ago amid an investigation into allegations that he used its shares to pay off personal debts. Sefton is locked in a legal dispute with Mr Ellerton, who has been seeking to force the company into bankruptcy through a court in Colorado.The saga is the latest controversy to hit the reputation of AIM after scandals such as that of Quindell, the technology contractor formerly chaired by Rob Terry, which is being investigated over alleged overstatement of profits.Mr Terry has since accumulated an 8.7 per cent stake in Daniel Stewart, the small-cap broker and former Quindell adviser, whose shares were suspended for a third time this month. Daniel Stewart said yesterday that it was making progress on a funding package to allow it to publish its full-year accounts and resume trading on AIM.
LXB catsick
25 Oct 2015
I'm in I have taken a good look at this stock since Simon Thompson wrote about it in the IC , all in all it looks like a well run company with a solid stream of projects all going well , the NAV projections have all been well discussed, The only negative I can see that will restrict the upside of the investment is the carried interest kicker the management has, they get nothing until a compound 12% IRR is achieved but then they get 50% of the profits as a bonus fee , until the total fee they get has hit 20% of total cumulative profits and then it continues at a lower 20% , this is not an unusual arrangement, but it looks to me like although the quoted nav means it does not kick in , when all the upside that is semi baked in occours it will kick in to the extent that the managemnt will get 50% of a chunk of it. I dont think these adjusted nav calculations people are doing take it into account.As far as I can see this very juicy kicker is a very lucrative carrot, it means the management will be very agressive around giving cash back as quick as they can as this will boost the irr if profits made are returned faster, holding cash on the balance sheet will be a killer to managemnt if it is not earning 12% ! The recent B+Q deal only makes sense if done with cheap leverage. At the current share price its not a big deal but up towards 120-150 it will really cap returns to shareholders , although at 12% irr I am happy for them to have some gravy !
HAWK Kenj2
25 Oct 2015
Re: Nighthawk- Committing Arikaree̷... Andy,Looks like you certainly called this one right. I dumped 40% of my holding in March at a slight loss, and foolishly hung on for a break even price before getting completely out. Now I am looking at taking a 60% loss.This company has been literally saved from extinction by Johan Claesson injecting much needed funds. He must feel really gutted at what has happened to HAWK in the last couple of years. Now it seems that this company only exists to keep the staff and directors from the dole queues. Stuff the shareholders and lenders, whose investments have made all this possible!As Clarence has said:"Hard to tell really if HAWK can keep going, price says unlikely to me unfortunately. Shame really, I truly believed HAWK was on the road to recovery when SG was running it. Looked very promising for 3k BOPD, seems long lost now."All the hype that erupted when Rick arrived has now fallen rather flat. The company rarely communicates with it's shareholders, and does not bother to answer e-mails sent to Investor Relations. I hope that Clarence is wrong and the company can survive, but have no real confidence in the directors. They will simply move on to other positions should HAWK go belly up.
MCGN EssentialInvestor
25 Oct 2015
New Chairman designate Buys 200K The new Chairman designate buys 200,000 shares, the purchase made even before joiningthe BOD in 2016.Trading continues on track.
NBI The Millipede
25 Oct 2015
Re: had a nibble at 75p Well, I agree if they make £2m to £3m a year £14m is probably too low. But right now they are heavily loss making, have been quite slow in recognising the changing business environment and seem heavily exposed to precisely the sort of major oil companies that are cutting back...... when actually a lot of producers worldwide are ramping up to maintain market share. Capex slashed. Can the business even operate without it? We do not have any good data to guide us there.So, it could be just the oil price causing temporary problems but it could also be management competence and a defunct business model. Maybe it will all become clearer at the next results?
CRX redprince
25 Oct 2015
Re: Trading Update Initially the loan notes and convertibles concerned me as they act as a cap on the sp but on reflection I think they are partly designed to deter speculators from manipulating the sp for short term gains.Crx is a very illiquid stock and as such is far more susceptible to manipulation and volatility than more heavily traded shares.For this reason I am quite glad that the sp has been temporarily "capped" to some extent as I feel that it gives the genuine ltbh some degree of protection and hopefully deters the spivs and fast buck merchants who are attracted by the sharp occasional intraday movements that can occur eg on Friday.
None had even been near a coal mine before. But the working miners were confronted by this. I saw this. Joe would have said ,work to rule ,but keep on working and earning.. Scargill , total confrontation, I may be wrong ,but I believe he still gets subsidised by the miners union fund, if he is still alive.
Joe Gormley was deposed by him. If I was a conspiracy theorist, I would say Scargill and Dear Margaret were Buddies ,intent on destroying not just the coal industry but its suppliers, the NCB was disgusting. Never ,ever tried to Export. Was not interested in supplying even coal merchants. The majority of coal was of very high quality ,compared with the imports.That replaced them..Very sad the drunken lefties on the picket lines at 0600 in the morning ,caused mayhem
Jolly miner.. Can fully agree with you. Psudo politicians like Scargill destroyed, I know , I was there.
They still have 13% themselves, if memory serves right, but it is Sat night so dont take that as gospel, along with other institutions ,so I think , no pressure from PIs needed.I am sure it is being put under scrutiny, Elliott specialise in companies struggling, Say no more!!
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