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There have been a few good posts over the last few days. If I knew, or of someone knows how to post pictures, someone could post a group structure chart.
Up until yesterday I believe some holders were still thinking ESL were the trading entity.
Bebeto, and others, had some good info in recent posts if you want to scroll back.
It would be good if posts here could be about the share and the firm, rather than posters abusing each other, "you're short, your comments are biased", "you're long, ditto" etc. It's a total waste of bandwidth.
Good post bebeto
We'll just have to wait and see, the company was undervalued at 71p but it's now on a much improved stable footing. Whatever Dbay/ESL/shareholders decides, it will be for the better as we've all got a stake in the company, Dbay's 29.9% and loan and their actions so far shows real intent.
Thanks for the explanation bebeto.
By your following suggestion, do you think they would also consider a share consolidation as I think that would be a bad move for existing share holders. ‘My opinion is that ESL will buy back the 51% through placement/ block list and return to a 71p-£2 company.’
Basically Dbay bailed out ESL , with a loan that's payable with interest at the end date. (No in between deadline payments ) in return Dbay have got 51% of our earnings capacity (through greenwhitestar.) This deal changed ESL into a cash shell company because they have lost overall control of their business, which also means that ESL are only a investment company with 49% stake. Within 6 months of above deal as per aim rules they have to fund an acquisition (buy something) min £6M and bring that onto the market.
Dbay already holds 29.9% of ESL, they are also guaranteed the interest and loan paid in full for which they have implied it's temporary as they have said they would give the shareholders the right to participate in an equivalent economic interest (buy something similar in value to the 51% of greenwhitestar) also that the PIK notes were to be refinanced. So to do that would mean either a placement of shares , block listing of warrants or a different loan from somewhere else.
My opinion is that ESL will buy back the 51% through placement/ block list and return to a 71p-£2 company.
Can someone put this into layman’s terms for someone like me please? DBAY will offer the Eddie Stobart investors the right to participate in an equivalent economic interest "
They became a cash shell only when the Dbay deal was concluded. They weren't one when wincanton was interested.
Dbay has already stated : "The PIK Notes will be refinanced after completion and DBAY will offer the Eddie Stobart investors the right to participate in an equivalent economic interest "
The 51pc was acquired for providing the loans-they get them back before and in addition to any share value.
Learning a lot here. My simple brain says Dbay the big fish and their share are worth same as mine but they have lot more and paid more. For them to get out at some point with profit means I make some too! They have a good record and CV has helped them. Only downside I see is if they buy us smaller fish out first at much lower price, wonder if they are buying in background. Either way I should make some profit or am I missing something?
I’m not Truthsearcher either.You confront every fact produced by me and others with a playground rant-a sure sign you agree with my analysis but just can’t bear yourself to agree.Like the AIM shell stuff-you have even had the audacity today to suggest the company is lying about its status on AIM.
I don’t short anything.I think it’s as bad as indiscriminate ramping.If you can’t handle plain old facts, maybe you should move on.I will consider buying when DBay reveal their hand-you behave like it’s irrelevant!!!
The line in the rather excellent WIN RNS was simply to note the incurred some one off abort costs in looking at ESL last year and would impact on profit.
I have to note WIN are tightening their belts-quite rightly in this crisis.They appear to have all the possible angles covered and were explicit in their banking covenants and potential cessation of dividends.A well thought through strategy and articulated well.Note also they are trading in line with expectations to end March 2020-no positive or adverse movement.Sensibly no guidance on 2021 as that would be a wild guess.
WIN run a very tight ship-low debt and crystal clear profits.Are they going to make a move in this crisis for the group?No chance.Would they be an ideal suitor when the world normalises?Absolutely.
Tonnacombe - i completely agree with you mate.
2 weeks ago, truth searcher was bashing this stock every minute. guess what, out of nowhere , he posted a message and said i just bought in for £25,000 :) i was shocked. were were at 7.3. I said to him, how can you risk 25,000 on a share you have been SO SO negative about. His reply was , its just a "punt".
He's either looking to come back in, or he has a short position. 7am - 11pm, Monday - Sunday, where you have no penny????
Truth - It was to show how much you exaggerate to put people off. it was nothing to do with the rate. You have said Wonga rates over 50 times here. Anyway, i'm done with you sir. i won't be responding to you no more. Out of respect for others. it is proven, you say one thing and you do another. your mission is to make money, like all of us but the method you use is nasty. You are literally telling people not to buy. If this share went to 20p this week, will you feel happy about all those you put off? about those you pushed to sell? anyway, my last message to you!
It is a cash shell as per rule 15;
Divestment or Cessation
— Where the effect of a disposal is to divest the AIM company of all, or substantially
all, of its trading business, activities or assets; and/or
— Where an AIM company takes any other action, the effect of which is that it will
cease to own, control or conduct all, or substantially all, of its existing trading
business, activities or assets (in which case such action should be notified without
delay and include all relevant information that shareholders may require)
upon completion of the disposal or action, the AIM company will be regarded as an AIM
Rule 15 cash shell.
"I think WIN scented a bargain last year-the difficulties were well known in the market so worth looking.That boat has sailed."
what was that line in their WIN's RNS, 25th of march then?
Ethio it’s having the opposite effect to what they hoped, trolling to this extent is always a buy signal for me, trolls almost always have inside information, and are trying to dislodge shares, thinking of chucking my TXP holding in here Monday now, same on Jog before they announced the miss was a hit after all, trading update won’t be Monday, as trolls wouldn’t Be botherIng as not time to rattle PI, but expect the update soon after imho
I don’t think I have posted one thing on here which is not based on fact.You however are hanging on every word I say!
Borrowing money at 18pc rates is very high-the base rate is nearly zero and conventional bank debt for a company like this around 2pc margin.They also got 51pc for the privilege.A fantastic deal if they can exit with some equity value because they will get their loan and interest paid back before equity.
Said before-you need to be on DBay’s side here.
The WIN directors were active in the shares in late March-they would not be able to trade if there was a sniff of a deal.
I think WIN scented a bargain last year-the difficulties were well known in the market so worth looking.That boat has sailed.
"I class 18pc as Wonga"
see Wanga rate below.
Borrow £150 for 14 days
Interest rate 292% pa (fixed)
One repayment of £166.80
Representative 1,509% APR
If you are not Ibgo King, you are AT himself.
come on. we're not stupid here. why would you spend this much time and energy here? oh, because you live in the NW and you like the company? :) how many other people from the NW , who like the company are here spending their time where they have no business? I don't believe you abut being short. If you don't have a short position here, STOP posting here and we will believe you. simple.
Mark - "Ethio because they would be interested in the 49% of greenwhitestar although they would be much more interested in 100% of greenwhitestar !"
if /when they come to TO 49 or 100%, it will be happy days for us. That RNS from WIN is from 25th of MARCH. They will get in the mix again. A lot of profit to be made here don't you think?
I don’t short Ethio-never been to Africa either,never used twitter.
I class 18pc as Wonga- it’s designed to get the funders a decent IRR.Of course they also got 51pc of the equity as part of the loan provision.Good on them if they create value of course.
I concur, when the selling pressure is gone which will or should coincide approximately with company updates we will see an uplift in the market cap.
"Tomorrow’s lesson will be on the potential effects of being a 49pc shareholder in a group controlled by an outfit who acquired 51pc of the equity by putting in a £70m loan-most at Wonga rates."
the Payment-in-kind, PIK is clear to us all and its not at wonga rates as you exaggerate.
nothing is new here. we all knew AT put the company in a mess. That's why his proposal was rejected by shareholders.
That's why 81% voted for dbay.
from that mess came the current sp. a drop from over £1 to current 10p.
dbay are here to do the right thing. esl is not longer run by a mug. its a massive company which is intact and operating ,making money like never before.
so , is the current sp reflective of esl's value? i don't think so. that's why i'm here.
the way you exaggerate and try to shock peeps, the amount of time you spend here, its not for entertainment value. You have taken a short position and it wont work for you. when AT is out, we will clime again.
I wouldn't go that far.
But I believe we will see an uplift in price, I believe we are undervalued and the next month should be ok for investors
Maybe the new chairman is an African Prince too-his crime being to point out the TRUTH in the face of rampant criticism and delusion.
I know why I’m on here now-the entertainment!