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Wave of investors have entered aim casino during these three/four months and was going through comments today and it looked like some investors were clueless about administration and how it works. They started this journey with money but no experience and would finish this off with experience and no money.
Go for a swim and missed it as was not expecting that RNS mid afternoon. I bailed this morning something always better than nothing now moved on as Ian.B says plenty of good bets out there BRNG , RPS to name two GLA
We had a ramper come to another board and try to ramp this share. KRSS was the user.
My post in March - "I just can't see why anyone would even think about investing in this. It's been in a death spiral since floating."
Sorry for people who lost money. I didn't expect this to happen so soon but stand by what I said and I'm not surprised.
14:10
Unfortunately a lot of CEO's are like this. I felt the same as you when Thomas Cook went into administration. I feel sorry for investors and staff.
if its in admin then shares will stay suspended? so no trading monday. maybe they should have suspended the shares before the open today.
Cale St to take control of Derby with ex Cap Reg exec Ken Ford & Savills managing
MAPP They are property mangers to take on Potteries in Stoke, Eldon Sq in Newcastle & leisure aspect of Braehead
Intu JV partners M&G at Corinna Causeway & Arndale & Landsec at St David’s likely to take on AM
So sorry for the folk who have lost money here...
Am91 - I’d Strongly advise if you are new To trading avoid penny stocks And do not chase losses Or you will loose more. - the market In AIM And small caps is designed to rinse you. Stick to SAFER companies making revenue and profits.
I’m biased as I’m in the following but ive researched all thoroughly and I’d advise you find similar companies and research. Check they have Cash/funds or lending Facility to ride out the covid storms etc. If in Any doubtS do not buy. Its Just gambling if you haven't checked all the facts.
BWNG - GFRD - INCE - there are loads of others BUT these are my recovery plays, all Pretty stable. Others to look at Card and CPI I’m not in these but they look to have potential but research properly.
Check and double check they have cash and or funding,, many more Companies will go bust due to covid.
Soverign Centros already have an impressive portfolio bankrolled by Orion amongst others who were the fund who withdrew from the large Hammerson portfolio
https://www.sovereigncentros.co.uk/projects
The wolves already moving in for the kill Bondholders had already been busy
Davidson Kempner builds stake to try & take control of Lakeside, Braehead, Watford & Victoria Centre. Global Mutual lined up as manager
Delancey (Son of john Ritblat who started British Land) who is competing against BL for Asset Mangemnt of Trafford Centre
Ellandi Asset Manger for Merry Hill & Miton Keynes
Sovereign Centros for Metrocentre
This kind of post shouldn't be allowed IMO - pretty poor taste to jump on the back of people who've just had investments wiped out and encourage them to gamble on your own shares to try and win their money back
are posts getting deleted here? last post 12:59
i sold 10th march at 5p for small loss. i was bit gutted when it rose to 9p.
Definitely gone....down the drains..
Relatively Small loss In my basket but well over compensated by many winners...
GL and hope all will get back their loss from other investments..
its taken me an hour or so to realise the shares have stopped trading. i wonder why. no brownie points to getting that correct. so 11:59pm should know one way or the other but its looking like its in admin. hence why shares stopped trading.
OUCH!!! That's a lot of debt.
Bond and listed debt holders
The suspension of intu's ordinary shares from listing and trading described above does not affect the listing and trading of the intu Group's listed debt securities and no application has been made for the suspension of listing or trading of such securities. The intu Group's listed debt securities are as follows:
· £350 million of Guaranteed Convertible Bonds due 2022 issued by Intu (Jersey) 2 Limited and guaranteed by intu, listed on The International Stock Exchange (ISIN XS1511910025);
· £354,876,000 5.562% First Mortgage Debenture Stock 2027 issued by Intu Debenture plc, listed on the Official List and traded on the London Stock Exchange (ISIN GB00B1DBF788);
· Multiple series of commercial mortgage-backed notes issued by The Trafford Centre Finance Limited, listed on the Official List and traded on the London Stock Exchange;
· £450 million 3.875 per cent Notes due 2028, £350 million 4.625 per cent Notes due 2033 and £350 million 4.25 per cent Notes due 2035, each issued by Intu (SGS) Finance plc, listed on the regulated market of the Irish Stock Exchange (ISINs XS0904228557, XS0904228987 and XS1131914811, respectively); and
· £485 million 4.125% Fixed Rate Bonds due 2028 issued by intu Metrocentre Finance plc, listed on the regulated market of the Irish Stock Exchange (ISIN XS0994934965).
Maybe just part of negotiating...puts pressure on creditors.
Calling their bluff...sure after 11.59 it will be a lot clearer and then we relax!
INTU GOES INTO ADMINISTRATION BUT SHOPPING CENTRES TO STAY OPEN
(Sharecast News) - Intu Properties said on Friday that it has gone into administration but its shopping centres will remain open.
The owner of Lakeside and the Trafford Centre had said earlier in the day that it was likely to call in administrators after failing to reach a standstill agreement with its lenders.
It said that since its update earlier in the week, discussions have continued with creditors over the terms of standstill-based agreements. However, "insufficient alignment and agreement has been achieved on such terms".
The company's revolving credit facility covenant waiver is due to expire on Friday evening.
"Underlying group operating companies remain unaffected and all shopping centres are continuing to trade," it said. "The Intu Group's relationships with its tenants are with these operating companies, not the companies entering administration.
"The shopping centre operating companies have or are expected to enter into transitional services agreements with the administrators of the central entities to ensure continuity of service provision by the central entities to the individual shopping centres."
Intu had already warned on Tuesday that it could go into administration and said it had appointed KPMG to "contingency plan" for that eventuality.
The company's shares have been suspended from trading in London and Johannesburg.
The RNS has been issued that states shares suspended and administrators appointment, expected shortly.
Why not say have now been appointed? They have been on standby for a while.
Still leaves door open for negotiations until 11.59.
Just a thought...
I doubt they would have announced if they expected anything else. So, it will be effectively in administration shortly.
But its not, thats the point.
INTU PROPERTIES PLC (INTU) ORDINARY 50P
Sell:0.30p Buy:19.25p 2.11p (118.86%)
fine Spread :)
It's done. Stop looking at how it's worded. It's announced.
OK maybe clutching at straws but was always told read RNSs carefully...its in the wording.
"The appointment is expected to become effective shortly"
expected and shortly.
Not "immediately"
I got greedy and made a lot of money by luck a few weeks ago when I bought for 4p and sold for 10p, 3 days later. Thought this was going to be like printing money. Good learning and not lost my the shirt on my back at least! CEO of INTU needs a film written about him, sounds like the story of catch me if you can, where a young kid manages to blag his way to being CEO with no actually skill or experience.