Noble Group

[greentea]

Noble chairman seeks 'confidence and patience' from shareholders: http://btd.sg/1GA2eyh

JUN 11, 2015 3:51 PM
NOBLE Group chairman Richard Elman on Thursday afternoon asked shareholders and colleagues for "a little confidence and patience" as the commodity company seeks to recover share value. In a letter sent to the press but not announced through the Singapore Exchange as at 3.41pm, Mr Elman decried what he said was "a lot of rumours, gossip, inaccurate statements and commentary from people who have nothing to do with Noble and probably do not even know what we do".

[CityFarmer]

Noble chairman seeks 'confidence and patience' from shareholders: http://btd.sg/1GA2eyh

JUN 11, 2015 3:51 PM
NOBLE Group chairman Richard Elman on Thursday afternoon asked shareholders and colleagues for "a little confidence and patience" as the commodity company seeks to recover share value. In a letter sent to the press but not announced through the Singapore Exchange as at 3.41pm, Mr Elman decried what he said was "a lot of rumours, gossip, inaccurate statements and commentary from people who have nothing to do with Noble and probably do not even know what we do".

You can read the full letter in the link below

http://www.theedgemarkets.com/sg/article...s-chairman

[greengiraffe]

Noble chairman seeks 'confidence and patience' from shareholders: http://btd.sg/1GA2eyh

JUN 11, 2015 3:51 PM
NOBLE Group chairman Richard Elman on Thursday afternoon asked shareholders and colleagues for "a little confidence and patience" as the commodity company seeks to recover share value. In a letter sent to the press but not announced through the Singapore Exchange as at 3.41pm, Mr Elman decried what he said was "a lot of rumours, gossip, inaccurate statements and commentary from people who have nothing to do with Noble and probably do not even know what we do".

You can read the full letter in the link below

http://www.theedgemarkets.com/sg/article...s-chairman

"... have a little confidence and patience in us..."

I seriously don't know how to trust mgt that denied shareholders a fair chance to air their views during AGMs.

Vested
Odd Lots

[cfa]

Noble chairman seeks 'confidence and patience' from shareholders: http://btd.sg/1GA2eyh

JUN 11, 2015 3:51 PM
NOBLE Group chairman Richard Elman on Thursday afternoon asked shareholders and colleagues for "a little confidence and patience" as the commodity company seeks to recover share value. In a letter sent to the press but not announced through the Singapore Exchange as at 3.41pm, Mr Elman decried what he said was "a lot of rumours, gossip, inaccurate statements and commentary from people who have nothing to do with Noble and probably do not even know what we do".

You can read the full letter in the link below

http://www.theedgemarkets.com/sg/article...s-chairman

"... have a little confidence and patience in us..."

I seriously don't know how to trust mgt that denied shareholders a fair chance to air their views during AGMs.

Vested
Odd Lots

Sounds very sweet !

[greentea]

S&P cuts Noble rating to negative: http://btd.sg/1JHqxLg

[CityFarmer]

I wonder what are the actions to "right the damage and will use all our best efforts to recover the share value"? It might mean more announcements to come...

(not vested)

[AQ.]

FT reporting 2 days back that the 2.3 bio revolving credit obtained recently is now offered in the secondary market by the banks.

Management might not care abt shareholders much, but they certainly care abt what the banks think of them - the entire business depends on credit financing to survive.

Yet again another reminder of the importance of choosing companies generating free cash flow with lil debt (or at least in a position to choose to be debt free if need be). When dirt hits the fan, banks can never be trusted to stand by your side.

[greengiraffe]

Good thinking... there is certainly truth in the letter. Persistent weaknesses in Noble share prices may actually be the nail in the coffin for Noble...

Anyway, that letter lacks concrete actions to address all the issues that have been actively raised since the beginning of the entire downward spiral of the share price.

FT reporting 2 days back that the 2.3 bio revolving credit obtained recently is now offered in the secondary market by the banks.

Management might not care abt shareholders much, but they certainly care abt what the banks think of them - the entire business depends on credit financing to survive.

Yet again another reminder of the importance of choosing companies generating free cash flow with lil debt (or at least in a position to choose to be debt free if need be). When dirt hits the fan, banks can never be trusted to stand by your side.

[vesfreq]

I wonder what are the actions to "right the damage and will use all our best efforts to recover the share value"? It might mean more announcements to come...

(not vested)

Too little too late for them. Noble should ve addressed the issues during agm. That would have avoid their unfortunate state of affairs today. I mean "should ve"

On this topic, I realise many businesses in retail are similar to noble. That is, heavy use of trade finance to bump up volume. That is good if there are sales with sufficient inventory orders to go with. Unfortunately, if they cant clear the excess inventory, they are sc&%=d.

Certain other biz are surely guilty of this.

Not vested.

[cfa]

Nobel really hope their bankers could continue to be patient with them , otherwise all things may break loose.
If the Chairman cares about SHs and share price , he would not have behaved in that manner in the AGM.
Trying to do damage control with this announcement ?