Good morning! 

Today I will cover Patisserie Holdings (LON:CAKE), Victoria (LON:VCP), Zotefoams (LON:ZTF), Elektron Technology (LON:EKT) and PCF (LON:PCF).



Patisserie Holdings (LON:CAKE)

I thought I'd add a quick preamble on Patisserie Holdings, as news flow is expected later today. The shares remain suspended.

Timeline of recent RNS announcements:

12 October (1/3): Finance Director arrested by police and released on bail.

12 October (2/3): Immediate cash injection of £20 million is required to prevent administration. Historical financial statements likely to have been affected by fraudulent activity and mis-statements. Rough estimate/guess is that revenue and EBITDA before exceptional costs for the year ending September 2019 could be £120 million and £12 million, respectively. But this is highly uncertain.

12 October (3/3): 31.4 million new shares placed at 50p.

16 October: General Meeting called for 1 November (i.e. for today) to vote through the fundraising.

24 October (1/2): Disclosure that the grant of options to the CEO and FD in 2015 and 2016 was not appropriately disclosed and accounted for in CAKE's financial statements.

24 October (2/2): HMRC's winding up petition against CAKE's principal trading subsidiary is dismissed.

26 October: The FD resigns with immediate effect. CAKE reserves its position in respect of any potential claims it may have against him.

31 October: In response to an article by The Sunday Times, restaurateur David Scott says he has no intention and no interest in acquiring any shares in Patisserie Valerie.

1 November: That brings us to today. Watch out for an RNS or two!

Today's update

Sadly, the company is not in a position to provide us with any useful information today. See the RNS. It  doesn't want to prejudice the investigations from "multiple regulators and authorities".

The comment thread below always contains useful contributions. Thank you to the reader who shared this link to a Reddit thread.

On that thread, an anonymous user has asked the following question:

5bdae65d8ba20CAKE_reddit.PNG

It could be a fake story, who knows? But if it's true, I think…

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