Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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PF's office is indeed in London. I can't imagine he's not welcome there, I'll have a listen but I would say anyone working there is smart enough to know what investing is about. As has been pointed out I doubt his personal interests are going to be served massively by this either, he would've been better of with this going to 1£ giving he's sitting on 4M in shares. If you honestly believe people's personal preference is massively at play you should just blame Sten Daugaard. At least that sounds somewhat plausible given he only recently moved into the CFO position so if this would be really a story of international intrigue then he'd be the mole. It was supposedly also him who made the call on writing off the goodwill which in itself is an entirely non consequential operation but ever since everyone is yapping about the massive "loss" they are making this year. So hey, maybe he did it on purpose?
Obviously in reality it's just all sour grapes from people who have lost money. I can understand that. I lost money too and also thought this could've been resolved differently but once you make the decision to not care about the shareholders you're past the point where there's going to be better solutions that do care about them. You'd be just giving up money to give to them. Also given it's a PLC they have all kind of interesting options to shaft shareholders so that's also on to us as PIs for falling into the trap of risking it.
You are letting emotions rule your vote on admin or accepting a deal. Thankfully, professional investors will do what is their fiduciary obligation.
Accept you have some responsibility and now you have to accept your current position.
If you are bullish on the company, post restructuring, buy the bonds.
Bigs there is a corporate HQ in London , maybe he is hiding out there?
No one has to sit and accept it, we ALL need to stand up and say no f***ing way!
PF doesn’t even turn up to any offices any more or call in. No motivational speeches. Just a blanket email to staff saying tough sh** about your shares and pension. He doesn’t care.
I call admin.
Found want to go private so you won't be able to hold your shares for too long hoping for a rise
Well unfortunately PI’s don’t get a saying in the current situation they have to face and accept the fact as it is
I don’t like getting shafted. If I get nothing, no one gets nothing. That’s the rule.
If you start accepting a sh** deal this scenario will keep happening in the future too.
Btw I’m not taking a p*ss you never know maybe with the new structure in place fosun will turn the business around. I know how you feel been there and got stitched but unfortunately this is the stock market
Bigwig getting diluted it’s still better than being wiped out!! I got F all from debenhams. Besides you’ve always said you don’t mind holding your shares for a very very long time this is your chance to do so
I still would prefer administration. Then almost everyone gets screwed fighting over scraps. Only fair way now.
jj.. agree
how did they get here? They made £1billion loss over the past 7 years and they continue to spend like the press release today!
They are fortunate they have found a mug in Mr Fosun, who clearly wants a piece of a UK business.
They also bought Wolves remember (probably told they would be PL champions if they waste more money on them)
Company instead of computer*
JTMac,
So instead of taking blame on yourself for making a bad investment decision, you are going to suggest the is fraud and corruption.
Businesses fail. People have been pointing this one as potential failure due a long time. Fosun has lost out significantly too.
Difference is they appear willing to invest more (a portion of£750m) to try get majority of the tour operator.
The business needs new cash, how it needs£750m is beyond me, but they do. Whoever is willing to our up this money into a computer that has significant amount of the debt cancelled will get the lion's share of the equity.
Save your money, sell your shares and buy into the new entity via the bonds if you wish to
Highly risky and I wouldn't.
Your 2m buy is the uncrossed trade at the end of the day and is not a buy and it's to be ignored
Or is PF trying to offload a pile of **** to Mr Fosun, yet another stakeholder being shafted by this wonderful CEO?
I now have the feeling Fosun have been mega smart and totally played the BOD. They want the company and the whole company. No share holders.
This is a gut feeling, just the BOD chuckle brothers have been so dumb I think they have been played by their new business partners.
If it smells like corruption - chances are.......
**** still smells like **** to me - always has.
Probably fosun buying through a separate entity to Hoover up shares should the incredibly crap deal not go through. That way they can take advantage of this cheap share price.
Just hedging their bets.
All speculation, but that’s what i would do in a hostile take over scenario, decimate the share price with a crap deal. Then buy the shares while cheap if it doesn’t go through.
The whole thing stinks. I refuse to sell and would rather see administration!
Can anyone explain why all the bad press is so many people buying so many shares in TCG I mean this share has has a serious hammering??? apparently there was a 2million buy at end of day?