From Steven Frazer â€@SharesMagSteve 5minutes ago #QPP bear raid by Gotham City Research, shares -8%. Gothan disclaimer admits it will 'profit in the event the issuer's stock declines'
Hi, this is from Shareprophets site Lombard Risk Management (LRM) yesterday announced the resignation of Finance Director Paul Tuson. With no specific reason given and a replacement still to be identified, the shares traded lower on the news and now stand at 11.25p - having shed 1.25p in 24 hours. Is this a buying opportunity? Tuson has been in the role since September 2010 and was the finance ‘face’ of Lombard to the City – thus with the company’s (31st March) year-end approaching, the timing is unhelpful in this regard. However, the announcement noted that “Mr. Tuson will remain with the company for up to three months to ensure an orderly handover of responsibilities†and I understand there is a strong finance function, led by a Head of Finance, which does the number-crunching and should ensure that there is no disruption to the financial reporting. As such, this looks more of a presentational rather than serious operational issue. The shares are now back below the price at which Tom & I tipped them on our Nifty Fifty site. We note other directors having been buying shares at price s well above today’s level in recent months. Earnings in the year set to start in a few weeks should come in at 2p. The rating is thus far too low for a company with a string balance sheet and which is very much a growth stock. At up to 14p, with an initial target price of 20p, we continue to rate the shares a buy.
We can reveal exclusively that infamous bear raider Evil Knievil (aka Simon Cawkwell) has today bought another 500,000 shares in Enegi Oil (ENEG), the £12 million capitalised AIM listed oil play. This takes his family holding to 3.5 million shares or almost c2.5% of the equity and Knievil says the shares, now 8p, are ones where “the upside is huge.†Knievil cites as evidence of this a note from house broker Shore Cap from October which concluded “we see scope for highly accretive reserve additions and calculate Risked NAV of 33p/share.â€
Hi, Look like it and also all the weak holders, panic sales. Good prospect ahead, IMO. Yai
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