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Hightex Group – analysis (assisted by the words of Piers Linney) as the shares soar

By Steve Moore | Wednesday 17 December 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Shares in large area roofs and façades engineering group Hightex (HTIG) currently trade approaching 250% higher today on the back on an announcement that an application to the German courts from its principal operating subsidiary for a procedure similar to ‘Chapter 11’ in the US, with the objective of “the reorganisation and continuation of the subsidiary”, has been approved. This follows the business having “not been able to conclude a final solution for the consequences of the fraud committed by the management of the Brazilian JV company”. What on the chances of a sustainable recovery do the financial position and longer-term track record suggest? (clue: it looks to be in a similar ballpark to that stated on this website for Outsourcery plc) …


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