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 and have access to Premium Chat. 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.
That’s a great quote. I think sometimes it’s easy to dehumanise people like CF. If he’s anything like the rest of us, and I suspect fundamentally he is, he’s a family man first and foremost.
I doubt any man would drag his family, literally half way round the world, disrupting their lives, unless he was 100% committed to Sirius.
That isn’t to say that we may not all be wiped out, although I’m praying that we are not, but whatever happens I don’t think it will be for lack of effort on his part.
doesn't look like they want the Norths votes. tax cuts expected to be outlined for the rich next week.
Misunderstanding - my fault - I meant is your handle 'Trinity' as in the Cambridge college.
What did you mean? I have nowt against CF at all. But now I wonder if there are one or two loyal employees posting on here!
Sajid Javid announces £600m of new infrastructure spending Chancellor says spending could ‘unlock’ construction of up to 50,000 homes in London, south-east and East Anglia
Debtnm... Let's not split hairs, it's the weekend after all.
Here's a quote from Fraser taken from 'Teesside Live' about two years ago - I think you can tell from this that he's in this for the long haul, so let's back him to get these bonds away, then we can all catch up on some sleep.
“I commuted from Sydney for the first few years, once managing 16 trips in one year,” he told me in the warmer lounge of the nearby Stables pub at Cross Butts.
“But I was jet-lagged all the time and my wife said it was time to move. In 2012 we set up home just outside Scarborough with the kids - my 12-year-old daughter now has a thick Yorkshire accent, but my son has managed to keep his Aussie voice!”
Is there any evidence whatsoever that CF has done anything improper? I haven’t seen any. If anyone has seen anything please report it to the FCA ( yes I know they are about as much use as a chocolate fire guard).
If we want IIs to get into bed with us, we would be better showing a more professional approach.
This is a public forum, but free speech does not extend to libelous or defamatory statements.
Trinity, is that as in, Cambridge?
What it's not flat?...
You'll be telling us the Americans didn't land on the moon next !! ;))
so Many flat earth loonies around.
Eustus, when are the schools back, should you not be out today getting your new uniform for the BIG school.
Could I remind those involved in idle weekend speculation about Chris Fraser that he has brought his family half way around the world to set roots down in Yorkshire and his wife has built a house in the locality.
I doubt these are the actions of a devious man who is setting half the county up for a great fall, ready to make a quick get away. Yes, he's made promises that were only partially delivered, to the disappointment of private investors, but he's getting this world class project over the line slowly but surely in adverse market conditions.
The man has integrity, give him your backing at this crucial point. If you're not convinced you shouldn't be invested and trying to sow seeds of doubt.
“Sadly this has no benefit to the current shareholders...”
Despite the fact that everything you see evolving across all our construction sites is as a result of the hundreds of millions raised at ST1?
The hundreds of millions that the likes of Highbridge stumped up to buy our convertible bonds? The convertibles whose net long position necessitates short coverage in order to minimise exposure? Ah right, yes. Those ones.
As for any deliberate manipulation, woolverstone - to my mind that’s little more than idle conjecture, I’m afraid.
But, I can do that too. Try this:
Knowing that a successful closure of financing is imperative, the Sirius team launch their roadshows in good time. In doing so, they give themselves plenty of time to get the message ‘out there’. After receiving a number of enquiries from interested parties, one in particular strikes a positive tone and indicates that perhaps some formal discussions should ensue. The Sirius, JPM and attendant legal teams get their papers together and negotiations commence.
After closing their pitch it seems highly likely that a deal will go ahead, and we’ve got a buyer for the first round of our HY bonds.
Meanwhile... thousands of miles away, a big orange baby predisposed to opening his mouth without thinking and conducting foreign policy via Twitter, gets out his phone. A few characters later announcing tariffs on $300bn on Chinese imports, and financial markets go into meltdown. This is reflected in the bond market also, where from 30yr gilts to the overnight rate, basis points start mounting. In short order, all the figures quoted in the paperwork become outdated. Expired. Obsolete.
Can a deal be signed? Well yes, highly likely. But not that day. Not until those present in that room knew WTF was going on. We were Tangoed.
Is my little scenario any more realistic than yours? Maybe, maybe not. . At least it doesn’t infer our CEO is a criminal though.
per ardua ad astra
Well I hope you and Woolverstone will be very happy together.
No offence but if I choose to reply to Wolverstone I shall do.
I don't filter anyone. I'm of the opinion that not answering posters gives them more oxygen than replying to them.
Alexios, nice bit of background.
Smacks of collusion but of course all perfectly legal.
Still, being a LTH with strong belief in the social value of the project (for end beneficiaries like those eating the food grown with the product, as well as UK stakeholders) I've nothing much to complain about - but of course I hope the sp eventually climbs again, and as long as large IIs don't suck years of future profits/NPV into a lower share price now, that will happen.
There is no dirty deals done here by our BOD and to be honest it's absolutely crazy to think that CF would risk not getting funding done in the present economic climate ..... CF " i know lets help out a few old chums here" and if because I turn it down now and then the climate gets worse ? hey ho it's only been what I've lived and dreamed these last few years " And of course if it did go titsup I would regret for the rest of my life my circa 100m worthless shares !!!!!
Conspiracy theorists please get real will you !!!!!!!
Please stop giving Woolerston the oxygen he craves.
I filtered him weeks ago because he just drones on and on about mythical dirty dealing by the BOD and CF in particular, his own ulterior motives seem to be to sow as much discord and uncertainty as possible trying and influence as many as possible to sell.
Whether that is to benefit other shares he may have an interest in or that he just can't stop himself from being a troll, I leave that to others to decide.
I certainly don't know the inner workings of the bond market. How many of us here do? A very very small percentage it seems. And of those that do know how many of those would agree or disagree with our timing to sell them when we attempted to last week ( even without world events thrown into the mix ).
Whether one believes Fraser engineered a train of events to line the pockets of his chums is something for each of us to decide based on our opinion of Fraser's integrity (or lack if it ) through our interpretation of the job he's done to bring us to where we are now.
Regardless of his misjudgment, manipulation or lack of control over events ( delete as personally appropriate ) the lining of pockets (if the share price goes on to reflect that ) hasn't been solely directed at the II. True long term holders undoubtedly kept their calm the past few weeks and, whilst some in their state of self imposed angst shouted their panic for all to hear, calmly cemented their belief with yet more investment.
Just a polite question. Do you have a mother who is a land owner in the YM & a brother who works in civil service in London ?
Who holds the largest short position in SXX?
Highbridge Capital Management LLC 2.59% short position
And who is the owner of Highbridge Capital? JP MORGAN
Who is providing $2.5Bn revolving credit facility to Sirius?
Someone is playing the game here
Sadly this has no benefit to the current shareholders...
Only those who jumped out prior to the fundraising announced when the sp was 20p+
Sit this out IMO because there could be/will be more downside coming if markets pull back down again
' with 85000 retail investors with their extended families he's well aware of the amount of votes a helping hand could deliver ' . this is an example of Pork Barrel politics....the worst sort of politics in a democracy .i've been reading it all week on this site . decent people reduced to this !
Chem - many thanks. Do you know when that pod cast was recorded? Thanks in advance
This, from the FT article of 06/08/19:
"One high-yield bond fund manager said that while the deal should probably have included equity warrants, offering additional upside to bond investors, he thought it could still be done in a stronger market.
“Fortescue had all the same issues when Citi launched their first [bond] deal,” he said. “It is now close to investment-grade with a A$22bn market cap.”"
This is the best post I have read all week. Very articulate and consice.