We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Very very stuck I am about even only small loss debating do I sell or hold big risk either way absolute gamble and I hated how I sold my 5.1 shares before when I was in the Same position. I think this week is risky If they can keep people happy next week when shops reopen we will know either way blue or red for this stock...nervous times but a positive rns before! Also surely any mention of administration by the media would need an rns to follow as it could be seen as insider info?
Sain - to repeat your sentiment. You are going to keep well away from predicting the share price. Well there’s a vote of confidence in the prescience of your own commentary. Little wonder - the market has gifted anyone who took the opposing view a 100%+ return so far :)
Tango
The bondholders can only seize the 4 assets as they are ringfenced In other words preferential creditors and INTU are hardly going to be able to offer them better terms when asking the others to have a standstill
Wig
Slippery as ever. Maybe they will maybe they wont You give no valid reason for either , is not answering the question .Bondholders have to make a choice and events have moved on since the SP was 4p and more retail delinquencies have occurred
Looks to good an opportunity for the A team and bondholder to miss to get clearwater from INTU Clearly only time will see if this occurs
No doubt the market will tell us what it thinks next week
If somehow you don't think any commentary on the facts undepinning that bondholder choice are relevant others might think differentally
Sain - I did answer exactly your question when the shares were at 4p. We both did. Your answer was the debt holders will definitely seize the assets. My answer was - maybe they will seize the assets, maybe they won’t. Looking at the share price since, 100%+, my answer was evidently more prescient than yours. If you are going to steer well clear of predicting share prices then can I suggest you find a propco board to post your commentary on, rather than a website dedicated to predicting share prices. Atb
if i was the bondholder i will screw INTU for either a better term or just take the centers that are held by them. No none should invest in this company for their fundamentals. But see this as a quick bet only. They were not a good investment for the past 6 to 8 years. Please if you are investing, look at their annual report for the past 5 years and you will understand why their share price is in pence and not pound.
Wig
You have dodged the question . I have kept well clear of trying to guess the roller coaster share price Just pretend for a moment you are a bondholder on the 4 centres with this opportunity to seize some free equity how would you vote ?
Retail assets are falling at a rate of 20% pa, bondholders can seize today and realise X, or wait 1 year and realise X-20%. Intu is not going to flourish, these changes are not transitory they are structural tectonic shifts in the entire market. Intu were snookered even before COVID-19 happened.
Sain - I think you were very sure of your opinion at 4p. Since then the shares have rallied 100%+ precisely because the outcome is not as sure as you thought. If you are intelligent, learn the lesson - “maybe” has a value.. “Sources said this weekend that the fate of struggling Intu remained in the balance, although people close to the company expressed "cautious optimism" that its banks would agree to step back from the brink. People close to the company believe its lending syndicate is likely to demur from forcing it into insolvency because of the potential value destruction that would occur”
Sain@vision..
As you know at present time corporate defaults will increase due to the current economic impact of COVID-19 and the prolonged lockdown period so Intu is not in a unique situation.
If the bondholders force liquidations then they will be in unknown territory of what they receive, and when they receive their money.
And now if the bond holders attempt to sell a defaulted bond in the secondary market ..they will lose tremendous money or maybe worse during the bankruptcy process as proceeds would likely be far less than the bond’s original investment..
So for bond holders sake is to see Intu survival and flourishing.
It is not in their interest to see Intu going into administration now..
Bond holders should take this over, cannot trust the management of INTU to steady the ship. Last year when yields were headed towards 7-8% the board were spending CAPEX at a NPV of 6% on Broadmarsh when they should have been selling assets. Plus ridiculous exec bonuses:
https://www.retailgazette.co.uk/blog/2020/02/intu-plans-boost-new-ceo-bonus-250-despite-falling-share-price/
Wig and Hasiba
Any thoughts on the potential valuable opportunity which has now presented itself for bondholders to seize some equity or do you think they will prefer propping up INTU's expensive payroll to achieve exactly the same aim ?+associated risks
I’m a bit lost the last rsn it said they were ok for the time or did I read that incorrect
Positivity is key if we don’t keep that then it’s a bit concerning
Hmmm.. Buffett wisdom or Livermore wisdom? One is the most successful investor of all time, the other one sadly committed suicide, penniless.
Excellent point, hasiba. I think there was widespread fear when the shares were at 4-5p, which is when I was buying. But since they have risen 100% and sentiment is a little more positive. I’ve adjusted my position accordingly. ATB
Will consider buying big numbers here and if I do then will put here the number of purchase and number of shares too for transparency...
Intu deep down ...is assets rich and I expect It to be moving forwards from the abyss as many big institutional interests are shareholders and none of them sold recently,and risk/rewards here is very much worthwhile among a diversity of portfolio...
High risk play with huge rewards...
MMs are unsure on the SP direction but tomorrow might see a big dip in the morning after the rumour of the sky news unless we see an RNS before the market opens tomorrow..
Many posters here want to see SP goes down for their own hideous interest...either to buy low or to play margins on volatility...
I see Intu as a victim of lockdown and Covid19 Misery that affects other retailers and travel industry were hit hard of no faults by them..
Get ready tomorrow and stay calm...
Warren Buffett is surely more experienced investors than the few trolls here who are spreading fears and write as if they were experts...bunch of amateurs imo.
Keep your nerves holders...
No recommendations from me to buy or sell or hold.
As always dyor..and GK holders on whatever you decide to do...
The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.
Jesse Lauriston Livermore
Quotes selected without full context can often be misleading and often be wrongly attributed, especially on the internet ~ Abraham Lincoln
Plenty of large companies where people have said they wont go bust, they too big
Warren Buffett quote...
"Widespread fear is your friend as an investor because it serves up bargain purchases."