Good morning! I've been racking my brains to come up with an elaborate, RNS-related April Fools, but can't think of anything sufficiently funny, so will have to pass on that opportunity until next year. Although I would have assumed that Rob Terry buying 7% of Daniel Stewart was an April Fool, if the news had been issued today instead of yesterday!

I had a second wind last night, and added some more company sections to yesterday's report, so the full report is here.


Real Good Food (LON:RGD)

Share price: 36p (down 16.7% today)
No. shares: 69.6m
Market Cap: £25.1m

Profit warning - the company has issued a trading update the day after its 31 Mar 2015 year end. It's quite a bad profit warning too, so I'm surprised the shares haven't gone a lot lower - a 16.7% fall seems mild considering;

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The largest subsidiary, Napier Brown, which represented just over 60% of group turnover for the last interim accounts, is up for sale;

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My opinion - regulars might recall that this is one of my least favourite companies - it has everything I try to avoid - high debt, pension deficit, low margins, supplying supermarkets, it's capital intensive, has a legal dispute, subject to volatile raw materials prices, doesn't pay divis, etc.  It's a complete mystery to me why anyone would want to own these shares.

Putting its biggest division up for sale suggests to me that the bank might be getting jittery & want to reduce their exposure, perhaps? Although a smaller, but less indebted group, would make a less unattractive investment proposition, so I shall await developments. In the meantime, I'm putting it on my bargepole list, as it's too high risk to consider as investable, in my opinion.


Global Lock Safety International Co (LON:GLOK)

Suspension - Allenby Capital has resigned (so things must be really bad!) as NOMAD to this tiny Chinese AIM-listed stock. So the company has one month to find another NOMAD, otherwise its listing will be cancelled. Let's hope they are unsuccessful in that endeavour, as waving goodbye to Chinese AIM stocks is something that should very much be celebrated.


Wincanton (LON:WIN)

Share price: 157.5p
No. shares: 121.7m

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