The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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telso yep agreed only Mr Simpson knows the true financials. Not clear what you mean about name/account changes but not that important. Likewise stay safe, somethings are much more valuable than money.
Apologies should read telso it's difficult to keep up with all your name changes and new accounts.
teslo so bottom line for you is you won't be investing and given your outlook will you be looking to take advantage of the impacts and trading the downside. Also have your transformation costs just reduced by £0.5billion from your earlier posts?
Telso that's great to hear so if we all hold until say it drops to 75p we will then get a multi billion pound bailout that's brilliant.
How much do you think it will be £2b-£3b or more?
telso have you potentially just answered your own question?
@Fruitster if RMG returns £3 to shareholders how will it pay for the £2.3 Billion in transformation costs? The 1 - 1.5 Billion in redundancy costs? when the upgrades are made.
@Mike RMG will likely apply for a multi-billion govt bailout this year.
Wow if that was agreed that would certainly give a huge boost to the balance sheet.
mike1974 I was also thinking about this and perhaps this could help fund a bonus for frontline workers as I have just mentioned to madasaballoon. Its unclear which parts of the already announced schemes could apply, if people have to self isolate should some of those costs be met, or funding towards PPE I am sure the business could make a case for some help. If Virgin Atlantic are looking for a huge bailout perhaps RMG asking for a bit of help is not a bad shout.
In light of the latest developments I thought I'd bump my own previously ignored thread... if the govt is willing to do whatever it takes to protect the nations cupcake makers, dog groomers, nail technicians and pretty much all other non-essential businesses both large and small, how come RM isn't entitled to some form of govt. help with the additional cost of having to remain operating due being classified as a ''key industry''?
Given that the government is helping just about everyone else then surely if RM is classed as a key industry that needs to continue operating then RM should also get some govt help with the additional cost burden it's currently facing... increased sick pay, increased overtime pay, increased cleaning, van hire etc?
Also given the govt help that everyone else is getting shouldn't ALL key workers get some form of govt recognition/reward for continuing to work throughout this crisis?
Other people are now sat at home enjoying a nice bit of gardening leave and picking up up to £2,500 a month for it, whilst key workers (most of whom earn far less than that) are still expected to be working with all the additional costs that it brings and putting themselves at increased risk of catching the virus.