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Eddie Stobart Logistics plc (ESL - AIM)

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Dod101
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Re: Eddie Stobart Logistics plc (ESL - AIM)

#273443

Postby Dod101 » December 26th, 2019, 3:01 pm

Can we assume that the Invesco holding includes the holding by Edinburgh IT? I would not have thought so as Invesco is currently only the investment manager and not custodian or anything like that. Edinburgh's holding belongs to Edinburgh and not Invesco although I expect the valuation ascribed to Edinburgh's holding to be very similar if not the same as to Invesco's.

I have no idea about the holding by Schroders which is presumably for their discretionary funds.

My comment on the Edinburgh IT thread was simply to show the rather poor judgement of Mr Barnett, the portfolio manager of Edinburgh and as a shareholder in Edinburgh I am glad that he is being replaced, although it seems that he was not alone.

Dod

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#273477

Postby Bouleversee » December 26th, 2019, 8:19 pm

Interesting that ESL was also held by at least one of Woodford's funds. There seems to have been quite a lot of cooycat between Barnett and Woodford.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#273480

Postby Dod101 » December 26th, 2019, 8:51 pm

I wonder if it was a 'house' view of Invesco that it was a good buy?

Dod

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#276994

Postby PinkDalek » January 13th, 2020, 10:30 am

Eddie Stobart were suspended on 23 August 2019.

There's been no RNS since the Company Update on 17 December. If I understand the situation correctly, after 6 months they'll be delisted from AIM (in about 10 days' time) if they don't come up with the goods.

Does anyone know if they can plead special circumstances or is the delisting without appeal? I think it is the latter, which'll mean they would then have to go down the route of seeking a new listing for the "cash shell", which was mentioned in one of the many RNSs, or do nothing much whatsoever!

Come what may, we'll know something within the next two weeks.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#277006

Postby PinkDalek » January 13th, 2020, 11:07 am

Eddie Stobart were suspended on 23 August 2019.

...If I understand the situation correctly, after 6 months they'll be delisted from AIM (in about 10 days' time) if they don't come up with the goods.

... Come what may, we'll know something within the next two weeks.


Spot the errors!

6 months from 23 August 2019 takes us into February!

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#278206

Postby PinkDalek » January 17th, 2020, 5:48 pm

Bouleversee wrote:I gather that dealings will resume next week.


Well we are still in limbo but the latest RNS, released late this afternoon, has some sort of (lack of) progress report:

Company Update
Released 16:55 17-Jan-2020

https://www.londonstockexchange.com/exc ... 89432.html

Extract only:

The Company continues to work to finalise the interims and a further announcement will be made in due course.

The suspense/suspension is all so exciting.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#285154

Postby PinkDalek » February 18th, 2020, 11:53 am

Eddie Stobart Logistics were suspended on 23 August 2019.

6 months on would be this Sunday or thereabouts.

I haven't found the detailed AIM delisting rules but if the outstanding interim accounts are not produced this week, then no more AIM presumably. Unless there's anything in the rules that allows extenuating circumstances.

As before, written down to nil anyway this end.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286776

Postby PinkDalek » February 26th, 2020, 8:55 am

Suspension lifted!

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286810

Postby Bouleversee » February 26th, 2020, 10:35 am

So at last we are able to sell, only the problem is that the s.p. has fallen 92.41% (as expected) so it's hardly worth the bother. Are you selling or hanging on? What a pity mine are in an ISA so I can't offset the loss. Having said that, my gains are rapidly disappearing thanks to c.v

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286850

Postby PinkDalek » February 26th, 2020, 12:28 pm

I'm probably not going to bother to cash in at the moment, although my small proceeds might buy a few appropriate face masks etc.

I'm in the same position as you re Capital Losses/ISA. Leaving them where they are is another daily reminder that I did little to no research before buying. As others have (mostly) politely pointed out!

It shouldn't be long until they issue their Year End Trading Update and later the Full Year results (unless there's another 9 month delay). :)

I had a quick look here https://beta.companieshouse.gov.uk/company/08922456 to check there's been no change in the ARD to date.

I suppose I might sell eventually, if only to add to the uninvested cash pot presently sitting in my ISA, which'll be increased by £20,000 come early April (subject to anything untoward in the Budget).

That is if the potential net sale proceeds come April amount to anything at all.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286862

Postby Bouleversee » February 26th, 2020, 12:50 pm

I doubt if you'd find any face masks to buy and it would appear they don't work anyway.

I, too, have a large cash pile in my ISA which I had been feeling guilty about but was comforted to read that even the great Warren Buffet had said there had been nothing that tempted him to buy recently.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286880

Postby PinkDalek » February 26th, 2020, 1:39 pm

I was kidding on the face masks but, leaving that issue aside, I've once again gone against my better instincts and no longer have a cash pot in my ISA.

In other words, rather than the few hundred pounds I had in Eddie Stobart Logistics Plc, I now have a few thousand, which'll be lost in due course, no doubt.

Don't, please, do what I have done!

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286886

Postby Bouleversee » February 26th, 2020, 2:21 pm

I won't, which means they will rocket and you will make a mint. Good luck!

What inspired you to do that btw?

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286947

Postby PinkDalek » February 26th, 2020, 6:54 pm

What inspired me was you!

Before you asked I was going to do absolutely nothing and get on with more important matters.

Having looked at what was occurring in greater detail there was a combination of factors involved, none of which most sensible investors would take as good reasons to buy more I suppose.

1. The few hundred pounds left (at the then MV) was a pointless holding. Rather than sell or stick, I thought I'd attempt to make the holding a reasonable amount in MV terms. If it sunk, then I'd suffer further losses but not to any great extent and, as you know, I find it hard to find where to place my equity intended cash.

2. I'm an acknowledged gambler with some of my 'AIM in my ISA holdings' and sometimes like to do something, rather than nothing at all.

3. I'd read some of the comments at ADVFN and London South East and, although thinking there should be no chance the price would rise to 10p, thought I'd have a punt being my normal contrary self.

4. I'm not really sure if relevant but we've been watching this scene play out over the months and I wanted to keep a further eye on it. A larger holding would ensure that I would keep watching. Whatever the outcome.

5. I like a little excitement.

I'd seen some early LRGS trades at 4p but the share price was pretty fluid between 5.5p - 6.6p from memory. I bought slightly above that but immediately saw the price go down further. Making me a mug punter I felt. Later recovered to close at 11.9p but I'm expecting a drop tomorrow. The present intention is to sell part tomorrow, such that I've recovered the cash I invested today and made a small profit. That would make me feel slightly better on this overall poor investment.

I am never up with the larks, so I'll probably find today's gains (if you get my drift) have disappeared by the time I take a look. I don't bother with stop losses etc but that's me all over.

I doubt any of that explains very much but thanks for asking. Hopefully others won't bother pulling my lack of reasoning to pieces. I'm already well aware that I should go back to my very LTB&H methodology from the past and keep away from AIM entirely (except for those I'm relatively comfortable with and continue to hold).

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#286956

Postby Bouleversee » February 26th, 2020, 7:28 pm

A little more inspiration: you could do a limit sell order at the price you would be happy to sell at and still sleep peacefully till your normal rising time. You have done well so far.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#287009

Postby PinkDalek » February 27th, 2020, 1:08 am

Yes but where's the fun in that?

Okay I attempted to be sensible and tried to set a limit sell order a minute or so ago. I kept getting an error message so I'll have to sleep on it. :)

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#287083

Postby PinkDalek » February 27th, 2020, 11:28 am

Bouleversee wrote:Are you selling or hanging on?


Merely to update, sold 60% of my entire increased holding 60 minutes back as I got cold feet at around 10p.

At least, at present, what remains is currently above the zero we both effectively booked before the suspension was finally lifted. I'm a rare trader and will probably not indulge in any further ESL trades for the time-being. I'll leave that to those who frequent ADVFN and London South East etc.

What have you decided to do?

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#287143

Postby Bouleversee » February 27th, 2020, 2:30 pm

What a pity you weren't able to do the limit order and what a pity you didn't sell the whole lot while you were about it. Still, you must have done quite well with your little trading experiment. I haven't decided anything. I am too preoccupied with more important issues at the moment so hadn't noticed the uptick yesterday but I probably wouldn't have done anything anyway. Traders have to be in a position to watch the ball constantly and I am simply not, or interested in doing so for that matter.. I mentally wrote off my investment in this sordid outfit ages ago. What annoys me more than the loss of capital is the fact that they are allowed to get away with this sort of scandalous behaviour.

Good luck with the rest of your holding.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#287188

Postby PinkDalek » February 27th, 2020, 4:38 pm

Bouleversee wrote:What a pity you weren't able to do the limit order ...


The facility seems to be unavailable at Lloyds Stockbrokers, part of the HSDL stable, although we are pretty sure it was there previously. I'm looking to move again anyway and may ask a few questions at Brokers etc in due course, so no need to respond on that front here.

... and what a pity you didn't sell the whole lot while you were about it.


Yes, probably, but that's not me.

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Re: Eddie Stobart Logistics plc (ESL - AIM)

#288674

Postby PinkDalek » March 5th, 2020, 11:51 am

Off-topic but merely for clarification.

PinkDalek wrote:
Bouleversee wrote:What a pity you weren't able to do the limit order ...

The facility seems to be unavailable at Lloyds Stockbrokers, part of the HSDL stable, although we are pretty sure it was there previously. ...

Limit orders etc are available at Lloyds Stockbrokers via the TradePlan tab. I've no idea why I didn't spot that the other day but I don't find the title intuitive, amongst many other things in life nowadays!

As for ESL, I'm taking no further action at this stage, for no good reason either way other than lack of time to look at or consider such matters.


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