Why put out a stock market statement when posting on Twitter will do?
In the ever-spicy online investor forums, retail shareholders have voiced their discontent with Angus Energy’s recent communications strategy.
Instead of using the stock exchange news service, it has taken to tweeting once or twice on Fridays to reassure the world it is still working to bring the Saltfleetby gas site in Lincolnshire online.
Piping up: Why put out a stock market statement when posting on Twitter will do?
Angus – run by George Bingham, the 8th Earl of Lucan, whose father disappeared in the 1970s under suspicion of murder – says it has suffered problems with computers and, rather vaguely, a ‘number of issues with the plant operation’.
Setting up oil and gas projects is undoubtedly a tricky business.
But with gas prices spiralling and the UK turning as far afield as Australia to buy its supplies, investors are keen for Saltfleetby to get off the ground ASAP.
Many shareholders may be up at 7am tomorrow to await a formal statement.
Another bruising week for AO World
AO World chalked up another bruising week after driver shortages and supply chain disruption pushed it to a loss.
The ‘pandemic winner’ is seeing sales stall as cost-conscious Britons pull purse strings ever tighter, hitting demand for its white goods and high-tech wares.
Founder-boss John Roberts is doing his best to cheer everyone up.
The firm says: ‘Our AOers have lived our values to make their mums proud.’
But what about dads?
Gem Diamonds loses sparkle
Gem Diamonds has lost its sparkle in the eyes of City broker Berenberg.
The £55million miner was dealt a blow when the German investment bank slashed its target price – its estimate of how much the firm’s shares are worth – to 60p from 80p.
Gem Diamonds works in the southern African countries of Lesotho and Botswana.
The Letseng mine, in Lesotho, has a track record of unearthing pink and blue diamonds and 100-carat-plus stones.
Many thought the sanctions on Russia following its invasion of Ukraine – which have cut the supply of diamonds available in the market – might bolster prices considerably and help miners of all sizes.
But sky-high costs could outweigh the potential benefits, analysts say.
Recruiter Hays in spotlight
The corporate calendar quietens down in the next couple of weeks, putting recruiter Hays under an even brighter spotlight on Thursday, when it releases its full-year figures.
An upbeat trading statement last month showed solid growth despite a challenging environment. But things have changed somewhat since then.
‘It’ll be interesting to hear how management sees wider conditions impacting recruitment going forward,’ notes Hargreaves Lansdown’s Charlie Williams.
Hays’ figures risk being overshadowed by any comments about its outlook, after UK job vacancies fell for the first time in two years.
Will it be glass half empty, glass half full, or glass in need of a stiff drink?