I've just joined here to ask a basic question. I've read through the previous posts and no one has answered the question some have asked. What caused the 40% share price drop when markets opened on Monday. Is it due to the rights issue? Thanks
Who knows?. I have held these shares for the last few years and my ave was £3+ even with me taking up my rights I would have still had an ave of £1.70 ish, and still been down some £13k even after putting in another chunk of cash. So I had enough and sold all my shares around the £1.50 mark knowing I would never get my money back infact I took a hit of £12k. But now I have just bought back in around 68p mark and will try again. This stock is now very much like TCG with bonds etc and I would like to see the sp around the £1.40 in 6-12 months. Buy who knows.
Hovis was the mill stone here - with it gone, the debt reorganised and a bit of stability ,the time is good to buy. I think there were un-realistic expectations about the value of brands, so the SP fall was inevitable. But at 66p (6.6p old money - used to be £2.84), could be near the bottom. If it survives, can't go too much lower?
Funny how times have changed, for the last 2 years pfd has been on the verge of going under, with very large debts, loss making Hovis, bad pension loss etc etc etc. But following this last financial restructure and large bond the future is now looking very positive. Gone are the prospects of pfd going bust, gone are the prospects of Hovis going under and making more loses, and in a few weeks when all the dust has settled the sp should be trading in the region of 80p- £1.00.
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