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The AA 86% share price decline, coming on top of the Saga and Aston Martin makes me wonder if PE firms and others are exploiting those retail investors willing to buy into a fashionable story.
I have to admit to losing money on Saga, whose share price is down 90% from its 2016 high. My mother-in-law was a huge fan of Saga and she gave me a present of Saga membership when I was 50, so when they were floated, I and ...
I listened in to a Volex webinar on 11th November which was very well attended and presented.
I have been a shareholder in Volex for some while and they have done very well achieving their targets of raising their gross margins by improving their product mix, dropping much of their lower margin cables business. Margins have been increased to 10.3% and they are doing well with their electric vehicle cables as the growth in this market continues.
Volex have manufacturing operations in China, ...
The Daily Telegraph and some other sources have reported that the liquidators of Patisserie Valerie (CAKE) have filed a claim in the High Court against Grant Thornton over the audits of Patisserie Valerie in the years before it went into administration.
I reported previously that the accounts of Patisserie were a complete fiction – see Reference 1 below – with the assets of the firm overstated by more than £90 million.
The liquidators are FRP Advisory and they have appointed lawyers Mischon de ...
A ShareSoc News item written by ShareSoc Director Cliff Weight
Update 1, 19 Nov 2020, SHARESOC LAUNCHES WOODFORD CAMPAIGN
Our primary objectives are:
to facilitate communication between Woodford investors
to help Woodford investors seek compensation for their losses where possibe
to ensure that those who contributed to those losses through action or inaction are held to account
to bring about changes in the regulations and regulatory enforcement to ensure this type of scandal does not happen again
We are pleased that several legal initiatives have ...
The Law Commission has published a “scoping paper” on Intermediated Securities (See Reference 1 below). This might sound a pretty dry technical subject but the subtitle of the report asks the important question – it covers “Who Owns Your Shares?”
I have written about the problem of the growth in the use of nominee accounts as on-line platforms have replaced share certificates many times in the past. ShareSoc has a web page with voluminous information on this subject including reports written by ...
19.25% of votes cast were against the continuation of SEC, 13.8% and 12.9% respectively were against the reappointments of SEC Chairman Richard Hills and Richard Locke as director.
The RNS announced but did not mention the actual votes cast.
Strategic Equity Capital PLC announces that at the Annual General Meeting held on 11 November 2020 all 14 resolutions proposed were duly passed.
Although the ordinary resolution for the continuation of the Company was passed comfortably, the Directors are cognisant of the fact that ...
Shareholders are excluded from this GM and there is no pre-meeting webinar to discuss these highly contentious proposals to wind up the VCT and distribute any monies raised (less administration fees, including payments to the failing fund manager and some directors).
Several members of the ShareSoc VCT Investor Group (including Tim Grattan, Mark Lauber, Roger Lawson and myself) met on 10 Nov to discuss Chrysalis' plans. Our conclusion was that shareholders should vote against these proposals for the following reasons:
Chrysalis is ...
The Law Commission have this morning published their scoping paper following their Review of Intermediated Securities. Here are the links
Executive Summary (16 pages)
Scoping Paper (201 pages)
ShareSoc welcome the Law Commission report which clearly highlights the inadequacies of the current system. For far too long the rights of individual shareholders have been ignored. It looks like progress is about to be made.
UKSA have commented 'Having looked more closely at both reports, they represent an excellent piece of work by the Law Commission. ...
The news that the Pfizer vaccine for Covid-19 appears to work (at least 90% of the time) and has no negative side effects gave stock markets a good dose of euphoria yesterday (9th November). It suggests that we might be able to return to a normal life in future, but exactly when is far from clear. Actually producing and distributing the vaccine is going to be a mammoth task and it is very clear that it will only be given ...
Following Pfizer and BioNtech's announcement today that early results from Phase III trials of their Covid-19 vaccine suggested that the vaccine was safe and effective, markets generally have soared. Cyclical and leisure/travel stocks in particular have benefitted whereas certain others have suffered.
With this market turbulence it is not surprising that many investors wanted to trade. However, I have seen widespread reports that certain major investment platforms, including Hargreaves Lansdown and AJ Bell/YouInvest have buckled under the strain and are not allowing ...