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Hi TF - i've not read anything on replacing the bond security.
The funds raised were earmarked for investment into the two main growth divisions for STOB, and its a 5 year bond, a timescale that is expected to transform STOB. I'm anticipating strong revenue delivery over that timeframe, that's why I'm invested here. I would expect tomorrows financials to confirm the previous rns trading update to the market on the 25th Sept.
STOB have the money, and have probably utilised it, the bond holders have the security ! who knows what price ESL will be trading at by the spring of 2024.
I recall being in negative equity in the early 90s following the housing crash, not much my mortgage provider could do about it, even though the value of their security had fallen by 35 % , I was fully capable of servicing the loan. Within 3/4 years, the value of the house had risen, I'd saved additional funds for a decent extension. When the property was sold 5 years ago it went for 4 times what i'd originally paid for it, everyone was a winner lol.
Let's see how it pans out over on ESL ( deffo another poor IPO price. Luckily STOB sold down a fair chunk of it's holding in previous years which it then returned to LTH's by way of the previous large quarterly div's that we all enjoyed in 2017 & 2018).
Have some sympathy for pi's over at ESL though.
GLA
G
Hi Volcano - no real market reaction to the ESL sitn. here atm. Maybe everyone is sitting and waiting for tomorrows financials.
I haven't taken a second bite at CRST yet, I've used up a fair chunk of my trading funds on picking up TLW at 147.8p. That's a share I've traded a lot in the last 5 years, I'll look for 170p but it could go the other way short term.
I've got quite a bit of trading money tied up in AMER waiting for news ( been waiting for what seems forever with an average at 15p ), so If there is a trade to be done here tomorrow to add to my STOB holding it might have to be a small one.
Re the bond raise, in hindsight its seems STOB were very fortunate in the timing of the cash raise against the non core ESL holding last May. Am anticipating solid progress at Southend Airport and in the Energy division, with the funds raised used to develop the core divisions as previously set out by the BOD.
Not long to wait.
GLA
G
https://www.lse.co.uk/rns/STOB/stobart-group-ltd-pricing-of-exchangeable-bond-kblukxvmkzu7z7x.html
after reading that this morning i had to twist, i will see what tomorrow brings.
I think that the fiasco at ESL will affect Stobart Group in a bad way. They have a huge bond out on ESL which may turn out to be worth a lot less if you read today's press on ESL takeover?
Any comments
Hi Jerry,
I have still got my last trade at 119p , i will make a decision tomorrow. stick or twist lol.
Hi Volcano - just did a dummy buy and got 128p+
Market seems reasonably comfortable with STOB atm.
Interims due out Thurs should hopefully continue to confirm the STOB growth story.
GLA
G
little run up to the results ,
The Group's interim results for the six months to 31 August 2019 are scheduled to be released on 14 November 2019.
126p tomorrow
looks like i will get my days wages today.
Yeh, I have topped up again myself
and for your info i bought STOB today again
i wish mate , non smoker you see , i am just letting you know there is flights from south-end to Londonderry .
Derry,
Just read up on it so I take that back. Not as I imagined, probably my memory associated with the troubles.
Known as Northern Ireland's second city, Londonderry is becoming one of the country’s largest cultural hotspots.
Suitable for any age, this city has infectious youth and optimism as well as idyllic scenery and tranquillity. Boasting 17th-century city walls, riverside settings, lively pubs, championship golf courses, and crowd-pulling annual events.
Volcano what you smoking?
New Loganair route flying from 27th October 2019
Discover Londonderry this Autumn!
Known as Northern Ireland's second city, Londonderry is becoming one of the country’s largest cultural hotspots.
Suitable for any age, this city has infectious youth and optimism as well as idyllic scenery and tranquillity. Boasting 17th-century city walls, riverside settings, lively pubs, championship golf courses, and crowd-pulling annual events.
Londonderry really has something for everyone!