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Although the out of hours price is seldom that accurate I find it does give an idea of direction of travel .... usually!
Monday it will probably start jumping around a bit, as we get near to the results deadline
I'd take that for starters Mark, not likely though. I fear we drift again today
they havent purchased any bonds since last year and it wasnt at 50% of par last year. If they are collecting £20M a month why not?
i wasn't aware of that, good to know.
If the buyer(s) of his stock are linked to the party that were looking to make an offer i bet they cant believe their luck and are making the most of JBs attitude towards his sales.
retails doing alright picking some up on the sidelines.
I look forward to seeing how it goes next week, August, September and beyond.
Senator1, the company already got bonds buy back program in place:
“We continue to optimise our funding mix and have increased our securitisation facility by an additional £50M, taking the total available facility to £200M. This has facilitated the Group's opportunistic open-market buyback of £59.5M of our 2024 bonds, thereby reducing our average cost of capital going forward and providing greater balance sheet flexibility.'“
Itsagame, in regards the bonds they where typically buying a chunk back per quarter end. Typical £80 million per annum.
yup, i took the figures from the ft article last week, i would have expected them to be tightly held given the 7.625% rate and the outside possibility of them being paid out in full on a take over. most are due 2024 anyway.
If they were trading at 50p in the £ in any meaningful volume it implies the equity is worth zero at least according to these credit investors. I suspect they dont really trade so this is just theoretical. However if there are any sellers Amigo should buy and then the discount goes straight to P&L. If Amigo dont buy it is telling you they are worried about the cash need for claims. This question needs to be posted to mgmt. This is the biggest tangible signal there is, IF the bonds actually trade which I personally doubt.
£315m in bonds, trading at 50p / £
Cars deek. No, there was £477 million non current debt at Apr 2019 which is the loan book I believe. Expectation is they will get back £600-£700 million back from loan book. Reality is that this covered with the incoming payments which would clear that even if they stopped lending all together.
Are we including the non-current debts as well?
Examples of Non-Current Assets
The following are some examples of non-current assets:
1. Property, Plant and Equipment (PP&E)
PP&E are long-term physical assets that are an important part of a company’s core operations, and they are used in the production process or sale of other assets. The assets come in a physical form, and they are not easily converted to cash or liquidated.
The total value of PP&E is equal to the total value of property, plant, and equipment recorded on the balance sheet less accumulated depreciation. Accumulated depreciation is the total depreciation expense charged to an asset since it was put into use. Investments in PP&E paint a positive future outlook of the company.
2. Goodwill
Goodwill is an intangible asset that is attributed to the purchase of one company by another entity. It is assigned where the price paid for the asset exceeds the fair value of all identifiable assets and liabilities assumed in the transaction.
Goodwill is attributed to buying some intangibles, such as the reputation of the company, brand name, good customer relations, solid customer base, and the quality of the employees.
3. Long-term Investments
Long-term investments include assets such as bonds, stocks, and notes that investors buy in the financial markets with the hope that they will appreciate in value and earn a good return in the future. The assets are also recorded in the company’s balance sheet.
Clearly this is just a number and not that easy to realise any cash raise from it unless you know what is counted within it.