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Latest News

Bearcast
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Tom Winnifrith Bearcast: should Neil Woodford go to prison?

I start with reports in the Times about share sales by EIF over the past week which just go to show that this fund will be gated until Christmas or beyond. Then I discuss whether Neil Woodford should go to prison for what he has done and having considered the evidence I argue that he should.

MAIS
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Maistro – AIM cancellation approved. An utter litany of platitudes & shareholder value destruction...

“Maistro Plc (AIM: MAIS) announces that, at the General Meeting of the company held earlier today, all resolutions were duly passed”. But this was no ordinary General Meeting from this, the former blur Group (BLUR)…

Newsboy
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Board love at DS Smith, whilst PZ Cussons is seemingly bored of talking

I am a fully paid-up member of the investment geek club and my continued love for corrugated board company DS Smith (SMDS) has been well documented. Thursday's full year 2018-19 results correctly led to an approximate 5% bounce in the shares and 'a year of significant delivery' meant more synergies from acquisitions, the sale of the plastics division which helped notably improve the balance sheet, 'volume growth in all regions through FMCG (fast moving consumer goods) and e-commerce focus', positive pricing, record margins and an upgrade in medium-term target plus an organic adjusted operating profit growth of 9% and a 13% hike in the dividend. Phew!...

ALBA

Alba Mineral Resources – Horse Hill update boosts shares, more to come?

Alba Mineral Resources (ALBA) has reported a Horse Hill test oil production update and that “Portland test production is now planned to continue until the second half of June when final site preparations for simultaneous HH-2/2z Portland drilling and HH-1 Kimmeridge production operations will commence”

CRL

Fancy a Dip and Peak play? Then Take a Look at this Small Beauty King

Hello, Share Thrashers. If ever a share was worth buying on the dips and selling on the highs, it seems to be Creightons (CRL). The shares have recently risen to 34p, but a couple of years ago reached around 45p and in the year before that were below 10p. They have been as low as a penny...

HL
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Hargreaves Lansdown's own funds dump Woodford Income Focus completely

Citywire has reported this afternoon that Hargreaves Lansdown (HL.) has exited its position in Neil Woodford’s smaller dog fund, the Income Focus fund with regard to its house Multi-Manager funds. This, after dropping the fund from its Wealth 50 last week and telling investors there that if the income was not important to them they should consider their position.

KDR
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Karelian – the sack-the-board battle hots up

I noted a couple of weeks back that it was beer and popcorn time at Prof Richard Conroy’s smaller lifestyle enterprise, AIM-listed Karelian Diamonds (KDR). The battle is hotting up nicely...

HRN

Hornby – full-year results, “pleased to report”?

Models and collectibles group Hornby (HRN) has announced results for its year ended 31st March 2019, “pleased to report to our shareholders in an exciting but challenging period for our company”

ANIC
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Agronomics - I see no good reason for people to be paying a 50% premium to asset value

A tiny AIM investment company called Agronomics (ANIC) suddenly seems to have become very popular, but I think you’d have to be mad to be paying the current share price. If we look at it under its previous name of Port Erin Biopharma Investments (PEBI), before the recent change to Agronomics, it immediately becomes apparent that its main area of investments is in the pharmaceutical sector, with several listed and non-listed holdings...

Bearcast
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Tom Winnifrith Bearcast - IP Group is surely a stonking Woodford short as its next placing looms

In today's bearcast I comment on Quindell fraudster  Rob Terry in light of my earlier artice, I look at the FRC, PWC and Redcentric (RCN), ValiRx (VAL), Plutus Powergen (PPG) and at Neil Woodford and IP Group (IPO) which might be next to unravel as the contagion spreads.

AST
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Ascent Resources – having argued on permits “good grounds to hope that an objective review... should result in a favourable decision”…

“Permitting update” from Ascent Resources (AST) that “a report has appeared on a Slovenian government website that the partners appeal against the issuance of the permit to re-stimulate Pg-10 and Pg-11A has been denied by the Environment Ministry”. Uh oh…

WTG
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He’s ‘avin’ a giraffe – king fraudster Rob Terry wants to sue Watchstone (Quindell as was) for £14.7m

You could not make this stuff up.  Watchstone (WTG), Quenron as was is trying to sue its founder, the king of the fraudsters, Rob Terry and others for breach of the share purchase agreement entered into by the Company with Mr Terry and others on 28 April 2011 in respect of the sale and purchase of shares in Watchstone Limited. But now Terry is seeking to counterclaim for £14.7 million. His claim is utterly ridiculous but will waste more of Watchstone’s dwindling cash pile.

Boom
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Julie Meyer - my response to fascist lawyers letter, time for me to go to the North Wales Police

Julie "lingerie on expenses" Meyer's 30th firm of lawyers, Tweeds, sent me a fascist lawyers letter 13 days ago as you can see HERE.  I have ,today, responded. If they were expecting a climbdown they will be disappointed.  My letter to lawyer Peter Mcgrath follows:

Newsboy
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As if we did not know it – management matters

I know the Warren Buffett witticism that you should 'invest in a company that can be run by an idiot...because one day it probably will be' is worryingly close to the truth, but management does matter and there were two good insights in this regard in Wednesday's regulatory news statements…

VENN
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Venn Life Sciences – shares restored at a massive premium… but much more to come

Drug development & clinical trial services company Venn Life Sciences (VENN) has announced audited 2018 results, a placing and acquisition (in which Tom Winnifrith has shares) progress which has seen the shares restored to trading – and we have chatted with CEO Cathal Friel…

BOO

Probably No Need to Share Tears for this Well Dressed ASOS Rival

Hello, Share Slappers. Oh, the woes of writing about shares every day! I was 80% into writing a difficult piece extolling a motorcar-related company when doubts crept in. The company seems to be doing fine, but I became aware of some general headwinds out there. Also, I realised it would be hypocritical of me to indirectly boost the motor industry when I blame cars for air pollution and so refuse to invest in the sector myself...

Bearcast
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Tom Winnifrith Bearcast: back to BCA, the Big Short & timing Woodford's next gating

Sorry for the late bearcast, I enjoyed a long chat with Reuters (see Roger Lawson not all the deadwood press hates me!) on when Neil Woodford's Income Focus Fund will be gated. It is a when not an if and I discuss what is going on under the surface. Then it is on to Pendragon (PDG) and BCA MarketPlace (BCA) which is more of a BIG SHORT - than ever. I look at Big Sofa (BST), Amphion (AMP) which looks like a zero and finally, in some detail, UK Oil & Gas (UKOG). Now back to the rising water levels at the Welsh Hovel.

TECH
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TechFinancials – ‘speeding ticket’ RNS required, any basis for ‘optimism’?

Having fallen from more than 30p in early 2018 to a recent circa 4p-5p, shares in TechFinancials (TECH) were heading towards 13p earlier today. Cue a ‘speeding ticket’ RNS being required…

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