From now until easter, there may be no Rights issue or sale of Hovis. Yes Bimbo do have ''deep pockets'' but if the markets genuinely felt that they were about to put there hands into them, the SP would hit £2 by now. The bottom line is next year interest rates are going up, so refinancing before then would be wise. A rights issue would not be affected by a rate rise so much, therfore it may not happen until 2015.
Feel sorry for the fool Fernie (simple as 123), if after 5 years of waiting the share price has moved from £2.82 to 16p like for like. The recent rally is based on rumours of a Hovis sale to Bimbo - great news if that happens. Bimbo do have deep pockets but the Hovis assets are very poor - if the deal falls through, only a rights issue left which will cause the SP to plummet. It could go either way this one.
Been on the PFD roller-coaster for many a grey hair now and as we jogged past my Â£1.55 average I wondered whether to give my ulcer a break and 'git while the gittin is good'. Still here though - I always said I was in it for the long haul so have decided to buckle up and enjoy the ride.
Lots of speculation around rights issues / Bonds / RNS's / Hovis sell-off - but haven't seen or heard anything that you could definitely attribute the soaring price to. But long may it last - GLA you long-termers.
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