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I would think an extension is for a higher deal, fingers crossed!
GLA
Extended again for 1 more day
I tried to prepare you lot, thousands of AA employees will be losing all their money if this deal goes through and believe me if the new bods think that it will be plain sailing when they take over they had better think again.
Don’t forget there were 21M shorts to be closed so most probably them.
Well surprise surprise another 3M buy has just appeared. The bulk at 10:30 this morning.
It makes perfect sense for the crooks behind this scam to be hoovering up all the shares for less than 35p. You will be ok papps at least you shouldn’t lose any £
I was in the cusp of topping up today, but that would have meant selling my boohoo, he decided to stick and boohoo dropped and I lost out on another £2k profit, assuming 35p is a done deal. Oh well this is the reality of shares, let’s see what happens tomorrow GLTA......
Talking of crystal balls, I wrote on 9 October:
“I'm bracing myself for a lowball offer as low as 35p, say. The BOD would give us the usual crap that "it's in the best interests of all stakeholders" of course”.
Can’t say I agree, the AA are in desperate need of a rescue, their carrying £2.6B in debt, they have £913M in short term liabilities, which are maturing over the next 2 years and their making £107m in pre tax profits pa. The numbers speak for them selfs and the picture is pretty bleak. They need cash either through private equity partners, rights issue, and to ultimately to restructure their debt payments.
The plus side being that these private equity partners would not be circling AA if they couldn’t see an opportunity, but the right here, right now health check is poor. Your making a punt on either short SP squeeze on a deal or you really believe in a company turnaround.
I reckon Micky1971 who quoted 35p to 38p or 35p to 40p several times over the last few months. Where does he get the Crystal Clarity Balls from. Struck a chord with me cos I ent got no friends to call so I took a 50/50 and sold some last week at 35p and left the rest for a punt.
Thanks Bablake, still a lot of buys though
Pappalazz,
I misunderstood this happening in the past, there is no buying after hours on our market. All buys/sells are accounted for in final SP, they are just reported after hours.
Great price to buy. I added some at 32p. Can't believe it held all day for an easy 8% gain tomorrow while we wait for a speculative counteroffer or shenanigans.
In fact lots of purchases
2.75 mill shares bought from over the pond I assume after hours
Perhaps I am missing something here, so disappointed with the 35p offer that perhaps I am not seeing things clearly?
If the offer is accepted - that's it for us - 35p a share, end of our involvement.
Why then, would it be of any value to us to learn that the consortium intends to invest £380m into the company to fund debt repayment supporting the refinancing of £541m of existing bond debt? It will no longer be our company so of course they will have to cover debt.
Some monkey business afoot Roxy? I'm intrigued, especially as I did the odd thing of increasing my holding haha!
Hope there is a nice surprise soon :)
I don't know why people find refinancing the debt to be such a dreadful thing. You get a new mortgage every so often - does it destroy you?
The AA is making (increasing) profit, paying it's loans and interest rates are low.
A CFO will have had a refinance package up already.
Pages and pages of the same size trade 8236?
One reason - previous owners loaded the company with debt before it was floated. AA doesn't need to just make a profit to survive, it has to make enough profit to service its huge debt!
2 buys total 2M just appeared still 3M missing keep your eyes peeled someone has got them. Remember that for every seller there is a buyer but I wonder who?
5Million more sells than buys and the cross trade (UT) is £16,000?
There is obviously a large buyer in the background (surprise surprise). It hasn’t been declared yet but keep your eyes on the late reported trades.
All you guys who sold today were putty in the hands. All again IMO of course.
I have been a policy holder with the AA for the last 5+ years - both insurance and breakdown cover.
On the two occasions that they have assisted me on break downs the service has been faultless.
This is a cracking company and it really is such a shame it is where it is currently.
Today I decided to invest some of my profit from other shares as I think all will work out in the mid-long term.
GLA LTH
Hi Papps yeah massive disappointment but can’t understand why people are selling and playing into the MMs hands? This is exactly what they want them to do but they might be right who knows? Certainly not me! Fingers crossed mate. Tomorrow should be interesting. I haven’t sold any and are looking to add. GLA
Not really sure what's going on, I hope a better deal comes in. I have the ability to wait this out as I have an average of about 31 after topping up this morning.
Whatever happens I should come out in profit, however I'm a bit concerned my money will be locked up here unnecessarily for not too much profit when there are lots of other opportunities out there..
I was hoping like many others of a minum of mid 50s over the next few days if not more a bit further down the line. Seemed like a dead cert..
Still willing to wait as it may surprise us all again.
GLA