The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The interesting thing about debt is that if you owe the bank £1m, its your problem.
If you owe the bank £100m, its the banks problem.
The bank will work with cwd to ensure a realistic restructure is in place. It is not in the banks interest to make the terms onerous and risk the repayment plan. The bank will not want cwd to liquidate and then be collecting pennies on the pound.
The other point Gentlest and I have touched on is the staff aren't stationary beasts ,entrepreneurial by a nature and with nil leadership by the top why risk your career with a set of BODS who make one bad decision after another
Well at this moment in time the banks in November reduced CWD's facility from £125m to £95m . Debt in the summer was £90m .some abortive fees incurred and its difficult to think that during the last 6 months of the year they managed to make any inroads into reducing that
So CWD's nose right on the wire and no doubt the banks will be extrarcting their pound of flesh Their patience has been severely tested with this set of BODS having announced a turnaround into a cul-de-sac You seem to be very forgiving
Sure conditions have improved but they have left themselves no wriggle room
Well , glad for you that you weren't long as its been painful for the many.I hope you shorted it.
As per your amended facility conditions. Yes, of course , I am aware of it. But since it was signed, we've had the election and the outlook for the economy and housing in general has picked up. Moreover , cwd should benefit greatly from the Budget so why on the earth did you insist the banks wont be supportive of CWD. Its certainly not the worst possible situation as you point out. So no, sorry, I don't agree with you.
. "You have obviously been hammered along the way. That I do understand."
Actually having watched listed agents in the past make the fatal mistake of buying disappearing turnover with borrowed monies I kept well clear if you read my posts I have been bearish here all the way down from 600 p before the appointment of Platt .so sorry to disappoint I am not talking from my pocket
Came in purely from sentiment after the election but that doesn't change my view of the BODS
You still dont get it with LSH Yes i though the best option was to raise £34m capital by dilution It would have been well received rather than pander tot he banks by selling LSH at a distressed price
At this moment in time they are in a vacuum not having received the money and signed an amended credit facility Surely you must realise that is the worst possible situation
excuse my typos!!
sain@vision,
No one can dispute that cwd has been a very poorly run company as witnessed by its share price. You have obviously been hammered along the way. That I do understand. The point is CWD , is to my mind, is an interesting recovery play.Yes it could obviously go either way as the finances are tight .
As for the LSH sale....you moaned about the seliing it off and you now you moan that aren't able to sell it. Make up your mind, man !! As another poster remarked , there should be a sizeable deposit to be forfeited as it seems the buyer has been unable to raise the money so far rather than him wanting to pull out. So I dont see the problem other than short term blip if the buyer pulls out. juding , by the price action, since monday, it seems the deal might be back on. Who knows. I'm more imterested to see the trading statement to see if they are seeing a pick up.From this lowly level, I'm happy to take my chances and bet it will be good.
Miti
Neither Gentlest or myself have mentioned the share price our discussion has been centred on the actions of the BODS their handling of the sale of LSH and the performance of the brands
Bully for you for taking advantage of the machinations of the sale price Just goes to show that despite an improving market the BODS handling of situations causes such fluctuations
What is clear with an"improving outlook" where a rising tide and all that it is a crying shame that CWD have been saddled with a set of BODS who every step of the way have caused extra problems without which cWD would be flying
Which bit about that do you fail to understand
GentleUncle20, Sain@vision,
As usual , I have the last laugh.What was the price when I posted on Monday about 302 !!Here we are at 343 . Point with bears like you is you ignore that CWD has scale and its in an industry where the stock market likes the sector. If you look at the last t's , it was fine and pointed to an improving outlook.Since then , we had the election and pointers are good for house sales.
Now, you can keep bleating on how poor the sector is but there's only so much rubbish I'm prepared to listen to.
As for you insulting me for my investment prowess or lack of knowledge, if you go thru my history on the LSE, you will see I posted on HCM board for over 3 years and made 7 figures so I hope you as good but I somehow doubt it.. Now , go screw yourselves and see you above at well above 4 quid over the next 18months which will represent another stonking return for me.
You have to give it to some of the posters with their Panglosian view on how the company is run When "its not terminal " is flagged up like some sort of result