Good morning, it’s Paul here, with Friday‘s SCVR.

As usual on a Friday, it's quiet for news. So once I've covered today's news, I'll use the spare time to do some general market ramblings - I've been jotting down points of interest throughout the week, so have plenty of material.

Estimated time of completion - should be well before 1pm , the official finish time (when the emails are sent out).
EDIT at 13:06, sorry I got bogged down in something else (preparing for a company conf call), so am running a bit late. Should be done by 13:30
EDIT at 13:24 - today's report is now finished.

CloudBuy - cancellation - we bid a tearful goodbye to this absolutely hopeless micro cap, which burned cash and delivered nothing to shareholders over many years. Its incoherent boss is remembered by me & several of my friends for having given the worst investor presentation in living memory. He couldn't even explain what the business did. Nice enough chap though, but quite obviously uninvestable.

I can think of a couple of hundred similar companies on AIM that should de-list. When are brokers going to actually float some decent companies? They're killing the UK small caps market by floating far too much junk. A fresh approach is needed.

Countrywide (LON:CWD)

A rather concerning announcement has been issued this morning. Struggling, highly indebted estate agents, CWD announced late last year that it was selling a non-core commercial property division, called Lambert Smith Hampton, for £38m. This would have considerably strengthened its very weak balance sheet (NTAV was negative, at -£141.8m as at 30 June 2019).

The buyer, John Bengt Moeller (described as a Monaco-based property developer, from a google search) hasn't come up with the dosh. Hence completion has been delayed,

"... due to logistical difficulties relating to the transfer of the requisite completion monies"

That's a very unusual, and worrying turn of events. It might all get sorted out, or it might not, who knows? I would expect to see the share price take a tumble today, as the risk of the deal falling through needs to be priced-in.


Share price: 1234p (down 1.2% at 08:50 )
No. shares: 70.65m
Market cap: £871.8m

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CVS, one of the UK's leading providers of integrated veterinary services, provides…

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