OmniChart

FDL Lspoon1 01 Dec 2014

Re: Lspoon1 ShortyI had tried not to make any ‘assumptions’ about your trades. My post was based on what you had set out yourself. The only assumption I thought I made was about the value of your initial investment in Findel. You stated you were sat on a paper loss of £120,000 and I used the c80% fall in Findel to derive a £150,000 investment. If the figure was higher then it lowers your return even further, I thought I was being kind to you!!You go on to say:‘I normally always place a short / CFD to hedge my larger investments and therefore have some experience in shorting stocks.’What do you mean by this? Hedging is something you do to reduce future risk and for which you pay a premium at the time. As an example, if I want to fix my mortgage rate for 5 years I pay a higher rate but have protection in the event of something happening which makes interest rates rocket.What is the point in hedging a share investment? If you own 100,000 shares and short sell 50,000 it would be more cost effective to just sell 50,000 of the shares you own. How does your approach work?In terms of my short on Findel, I used two CFD and spread bet accounts. I don’t understand why you think £500 per point is ‘rather large’, the margin requirement was £24,000 in total. This is substantially less than the amount you must have invested in Findel to buy shares. Investing is my primary source of income so I have substantial funds on deposit with several SB / CFD providers and a trading history which makes them comfortable at that level.Please also remember that there has been strong buying support for FDL for quite a while now so a sell order for 50,000 shares does not generate massive interest.

SER Nunquam 01 Dec 2014

most expensive movie that I have ever watched.

SER Nunquam 01 Dec 2014

I have paid for my shares, I will watch the end of this horrid saga. i think there is a film to be made. I am not sure if it is a comedy or a horror story.

PRV tejo 01 Dec 2014

Update Excellent results but wish they did not have a defined benefit pension scheme. The sp got way, way ahead of itself which I think we all agreed on and it is now slowly recovering from the inevitable adjustment which took place. The major contract may distort comparisons in the near term and we need some "base case" figures in order to make a sensible valuation. Hard to see in excess of 300p in short term

BA gamesinvestor 01 Dec 2014

Cyber [link] new graduates in cyber division.Games

FDL Lspoon1 01 Dec 2014

Re: Lspoon1 DPPA couple of points on your post.First of all you refer to my ‘deception’. It do not understand why you believe I have deceived anyone.Please look at the timeline of my posts. I went short on Findel in June 2014. I did not make any posts between July 2013 and October 2014 and, in the very first post I made after I went short, I clearly showed my position with a ‘Sell’ recommendation. You own shares and your posts are generally positive. I am short and have been negative. If I am trying to deceive anyone then surely you must be as well? The point of a board like this is that there will be some who are positive and some who are negative. Both are trying to present their arguments and as long as each clearly states their position there is no deception.Finally, I do have a general principle that I do not short shares as my investment approach is to find shares which are undervalued. Sometimes though you find a share which you think is obviously too expensive and there is better value in it than anything else you are looking at.

SPL Twistednik 01 Dec 2014

Re: Worrying decline in SP over Keeps on falling like a stone ! I'm looking for a good entry point but nervous times to buy in !

PRV Hardboy 01 Dec 2014

Re: Pre close trading update Just doing some very rough estimates. The EPS is likely to be around 16.5 this year (based on earnings growing at a slightly higher % than sales) That puts the PE currently around 16. Because of the continued strong growth, Porvair's PE has been running at over 20 for years, so I'm guessing this is cheap.

SAV shedfull 01 Dec 2014

IF oil price stays low Then it has to be good for the world economy and that means minerals JIMO

PRV dave297 01 Dec 2014

Re: Pre close trading update My holdings are aid for & tucked away inside my ISAs & while the company continues to grow I have no plans on selling & will buy more on weakness,mt rationale being that ,while the growth story remains intact,our SP will be much higher at some point in the future

MDZ MANCHESTER2009 01 Dec 2014

delayed trades ...coming through08:31 0.67p 1,868,607 £12,443 Buy OK

LEG BOWOOD 01 Dec 2014

VS I think the forthcoming update on trading and the future of VS will push the sp to much nearer 0.20p

MTV fish lips 01 Dec 2014

Re: Happy Days Trying not to be too cynical, but 1000 units at $89.99 is hardly going to be a massive amount of cash to MTV after everyone else has taken their cut. They need to sell 10s of thousands if not more to start to make the market sit up and listen.If they stop taking orders in the next few days then I'll be impressed, if not then the alarm bells will start ringing that there is no market for it.

FDL Lspoon1 01 Dec 2014

Re: Possible reason ? DPPIn my opinion, you should not get your hopes up that the write down on Kleeneze is connected to a potential sale of the business.Sometimes a company will pay more for an acquisition than the value of the assets it is acquiring. It does this because it believes the value of all the intangible benefits such as reputation, staff, brand, contracts, clients and so on justifies the premium and that these intangible assets will generate substantial returns in the future. The surplus it pays is classed as Goodwill under Intangible Assets.When Findel bought Kleeneze it paid £19m more for the business than the value of its assets. Findel would be required to write off this goodwill (normally over a period of 20 years) which is referred to as ‘Amortisation’ in the profit and loss account. As long as management believe the value of the goodwill in the business is the same or higher than the value in the accounts they don’t have to do anything. If they believe it has been ‘permanently’ reduced they have to write off that amount. The most important word here is ‘permanent’. If, for example, the business had a bad year due to unusually harsh weather, it would not have to write-off goodwill because this would be temporary.The key issue here, and the one you need to address as part of your investment decision, is that management have effectively stated that this reduction in Kleeneze is permanent. In my opinion, the driver behind the share price decline is that the Board are saying they do not believe they can turn Kleeneze around in the way they believed they could a few months earlier. Hence the write down in goodwill.Investors were told that the Group was targeting a 7% - 9% operating profit on what they believed at the time was a Group Sales target of c£500m. The basic maths of this gives £35m - £45m of operating profit. The Board now appears to be saying it is selling Kitbag and the sales of Kleeneze look to be in terminal decline. These two businesses account for c£120m of sales. If the 7% - 9% is on the remaining £380m of sales then operating profit falls to £27m - £34m.The difference between these two profit ranges is around 22% which explains the fall in the share price since the announcement.

WRES wobblywebb 01 Dec 2014

TT have to agree with you. Mind you, i said the very same thing when the SP was higher. I think the p*ss has been well and truely drained off completely !!