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Completely Agree with you re the “Getting back to Normal Lending”. Divi Yes 2022. The Q remains where does the Value lay ? Before or After the FRI RNS. It wouldn’t surprise me for them to announce it tmoro !!
Fast one of us is right the other is nearly right ha ha. Either way this will get back to normal lending and survive as demand is there. Facility is waiting if not being used. So worst case. Is we are over the crappy period and back to lending. IMO. I am sticking about with this one as divi will come at some point aswell I think.
Apologies cannot Add up. Long day. Cannot remember where the £72m came from but knock £23m off any Figure. I’m saying £72m - £15m - £8m = £49m and then I estimate Cash actually less than £30m due to using those Reserves to cope with Lending demand last 3 month.
I disagree in the Context of “Open” Caravanboy. “Subject to Covenants”. The £200m is there but currently Not Accessible as I think NSF will have not yet Satisfied those Covenants until Balance Sheet Repaired and that depends on an Equity raise. Hence I believe they will be using existing Cash Reserves (£72m as people say / less the £15m and 8m Bi Annual Interest Payment = £59m) to fund current lending.
I may be wrong though ..
Either way it’s Positive that Lending will be in Good Flow now and that the £200m is waiting ... Subject to XYZ.
Cash Reserves will this be Reducing from the £59m imo.
To improve the efficiency of its balance sheet and reduce funding costs, the Group has repaid the £15m (£10.5m net) previously drawn on its £200m securitisation facility. As a result, the breach of certain performance triggers that arose as a direct result of COVID-19 has now been waived and the Company has agreed with the provider that, subject to their consent and the satisfaction of standard covenants for a facility of this type, the facility will remain open for future use
Fast food. The facility remains open. In my view. As per update.
Well. That’s what investing is all about do your research and have a exit plan based on that. Just because the sp is down don’t mean it’s bad news coming. Seen this time and time again. Gla.
No great anticipation of a rerate here (or 100% rise!). Heading down to sub 4p?
I think this is very possible when the results arrive. Things are booming in this sector. Gla.