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Bigwigs (and others) I agree in your coments, likewise im in the same position like so many, were P.I.'s and me like so many as i mention have taken a huge hit some more than others, question is. what can we do, who will or can take action, and how can we proceed with this... ? its a mess for sure, I take full responsibility for all my buys and sells im all companies i choose. but i base these as best i can on research, I feel the info put out by the compsny was misleading meaning i made a wrong judgement call, costingg me and my fa.ily dearly, many many people are in the same boat, TCG sharehders have been screwed, BIG time. I bought TCG as an investment not a punt, i did research and been imvesting for years based on the info coming from the BOD. If i wanted a punt i put a tenner on a horse or buy a few AIM shares, to me a punt is putting money on something i know little about, investing is buying into something after researching, I know "something" about. cheers. :/ K
So many companies have got away with murder, were are the financial bodies????? They say we can only give advice or on the side lines just watching and nothing..Whats the point on the advice, I have google.. Come on people lets start the action...
I would look to not sell at these levels and rather look to add. That’s just my view.
As I said before, I take medium term Views - not day trading views or very short term as that’s very difficult to predict. Longer term, a change in business model and management as well as correct debt management would certainly be a good way forward. I agree what this board has done to existing shareholder particularly of you bought at higher levels over the last few year is terrible. For new fresh money coming in at these low levels may well pay off longer term.
Listen everybody, we have lost monies due to the directors, its time to make a stand... The directors have taken the shareholders for a ride, big wages and no care for the shareholders. Lets stop talking and do something... I've lost a fortune , but will not take this as PF has destroyed the company, Fosun are taking it cheap, if I'm losing it all, then id rather they lose it all. I want to see the other bids as said so many times. Lets stop talking and start taking action asap....
The CFO also states the sp would be single digit - we already are in single digits. 0/1p is obviously worst case, who’s to say that forsun may even five curent holders an opportunity to invest into the new business model whatever that may be - perhaps the luxury hotel business that is very popular with Chinese tourists. Again, it’s a longer term investment (assuming the company avoids administration) which I think they will, it could well recover given a change in business model and leadership.
I can tell you one thing that the banks and bond holders will be doing, and that is negotiating very hard that current equity holders get as close to zero as they possibly can (yet secure a vote, 1p normally does the trick, DYOR). They have no intention of saving your cash, they will make damn sure that if they are going to bail out the company that current equity will be decimated in favour of the new equity.
What are the banks and bond holders likely to do with the airline once they have majority control - asset/slot strip it, or keep it running over the winter? Personally I can't see them being interested in keeping it flying, particularly after it was found to be of minimal value.
They want an injection of cash, they want debt holders to take equity. Please do not be under any illusions as to what the CEO meant' in his recent statement.
IMHO, when the news breaks punters will be stunned by the price and the dilution.
There have been accusations that the CEO has been putting a rosy view of the company, but when he pretty much states that shareholders will not benefit from the refinancing. Do you really think it's going to be better for you that the CEO is alluding to?
You berlieved him when he said all is looking good, but you choose not to when he says this deal will help the company the employees, and the creditors. Did'nt seem to recall him mentioning that this would be good for shareholders.
Far from it.......
"While this is not the outcome any of us wanted for our shareholders"
This s a similar stuation to Debenhams, The incoming money will take out most of the equity. Thats what it says on the Tin so we could be looking at 3p, 2p 1p or bust depending on how it pans out. maybe it will rise long term but we dont have any information to suggest this
Souter....the following (from the RNS/CEO) makes it pretty clear where shareholders stand.
"After evaluating a broad range of options to reduce our debt and to put our finances onto a more sustainable footing, the Board has decided to move forward with a plan to recapitalise the business, supported by a substantial injection of new money from our long-standing shareholder, Fosun, and our core lending banks.
"While this is not the outcome any of us wanted for our shareholders, this proposal is a pragmatic and responsible solution which provides the means to secure the future of the Thomas Cook business for our customers, our suppliers and our employees."
The damage done is mortal - their is no Recovery - no matter what - all the bad press along with shareholders bailing out. It's game over no matter what happens - to repeat - PF has made it very clear.