20:10 Yes, OK, high risk and progress has been slower than hoped for with hiccups on the way. Maybe knocking out sheds from containers isn't new, but the thing about ZZZ is that it is actually doing it, and doing it well. Scaling up was always going to be expensive, and returns slow. I liked this: "... the Company has identified a broader opportunity in the events market and is further developing its offering to capture this demand. The Company is also confident that there is a sizeable opportunity in the semi-permanent market and has developed a leisure hotel model, workforce hotel offering and a temporary housing model. In addition to the opportunities mentioned hitherto, there is a strong pipeline and the Company has submitted planning applications for its first two temporary housing deployments on behalf of local authorities in London..." With all the immigrants flooding into Europe it may be the 'temporary housing' model will be rather like the utility housing after the war, designed for 10 years, used for 50. I'll be hanging on to my small holding, and look for more interest in their products as winter progresses. But WTHDIK.
13:00 It's almost as if they want to frighten off the small holders. The bread and butter will be the semi-permanent locations which from the numbers mention seem likely to generate circa £5 million revenue, before refurbs and maintenance costs. That leaves the events market as the icing on the cake, but no doubt there is still some way to go in spending on new equipment, and the event kit will have to be up to a high standard and be replaced regularly. My guess is that the business in due course will be sold as a going concern to a bigger player. From the price action of the past few months it seems that there has been a steady accumulator in the background. As per usual the private holders will be the last to know what is really going on.
08:44 Having said that, rather surprised the share price hasn't tanked. Maybe not as bad as I first thought.
08:34 Afraid business model doesn't seem to stack up. Another AIM disaster for me.
08:21 Sold out of my very small position today having bought at 7p around a year ago. Agree with Michael's brief summary that they will continue to lose money and whilst I like the concept of the business, I equally prefer to have some cash for other things and will look for chance to perhaps buy back at lower prices.
08:09 hTTp://michae1mouse.blogspot.co.uk/ Comment on today's trading statement.
12:15 It sounds less that way when more of the RNS is quoted: "Lorcán Ó Murchú, Chief Executive commented, "I would like to thank Kate for her contribution in the past year, in particular for her work analysing and developing the business model, and I wish her well for the future. I am pleased that Richard has accepted the position of Chief Operating Officer."
08:00 20 October 2015 SNOOZEBOX HOLDINGS PLC Management Changes Snoozebox Holdings plc (AIM: ZZZ), ("Snoozebox") today announces two management changes. Kate Ferguson, CFO, has decided to stand down from her role and will leave the Company on 31 December 2015. She remains a director of the Company until then. Pending the appointment of a replacement for Kate, Lorcán Ó Murchú will resume overall responsibility for the commercial and finance team and oversee the financial direction of the Company. The Company will provide an update once a suitable candidate for the CFO role has been selected. Richard Pisarski has recently been appointed Chief Operating Officer of the Company with management responsibility for operations, hotel services and procurement. Richard has been working with the Company for the past 12 months, taking a leading role on a number of operational initiatives to prepare the business for its next stage of development. Richard started his career in engineering and has held senior management posts across a number of sectors.
11:52 Mopping up all those small holders who have got tired of waiting for news, I suspect.
11:48 Indeed - I would like to know who they are buying from?
11:36 Looks like Kestrel has been putting in the floor here.
13:55 You can currently buy up to 250k for 9.02p and sell some of them at least for over that price!
12:08 They chose to borrow to expand and not issue new shares, presumably the lenders are convinced by the business model? Landing a sizeable local authority contract would provide a visible long term income stream. I get the impression that many small holders are throwing in the towel as the waiting drags on.
07:21 This will need to raise further funds next year.