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Yes the RNS is good - is it 3 bagger I'm more than happy if that's the case
Can't see 3 bagger
Cant complain on a 3 bagger in a day, what are you basing this on mate?
20.00
I don't wanna sell out too early
Can't buy going through NT
Number : 1704F Bagir Group Ltd 25 July 2016 25 July 2016 Bagir Group Ltd. ("Bagir" or the "Company") Announces Proposed Private Placement, Bank Refinancing and Trading Update Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, is pleased to announce, as part of the Company's Recovery Plan, an agreement with its lenders, Bank Leumi and Discount Bank to clear all outstanding bank debt (approximately $21 million). Additionally, the Company intends to undertake a private placement to raise approximately $8.5 million ("Private Placement"). "During the recent months we have been working closely with both of our lenders to address the imbalance between the size of the business and its current level of borrowings. Today, we are pleased to be announcing a new plan under which the outstanding borrowings will be partially repaid and the balance written off which will enable the Company to strengthen its financial position, support its operating cash flow and once again invest in growing the business. We are grateful to our lenders for working collaboratively on this," said Eran Itzhak, Chief Executive Officer of Bagir. Agreement with Lenders · Under the agreement the Company's two principal lenders have agreed to accept a partial repayment and then to write-off the balance of all bank loans amounting to approximately $21 million and associated obligations, subject to the Company fulfilling the following conditions to them pro rata before 31 December 2016: o Cash payment of $6.3 million to be funded from the proposed Private Placement ("Cash Payment"). o Allocation to the lenders of 8.33% of the Company's total issued share capital post the completion of the Private Placement. · On receipt of the Cash Payment and issue of new ordinary shares to the banks, each of the banks shall write-off the outstanding balance of the obligations and liabilities of the Company to the banks and any liens, mortgages, and guarantees created in favor of the banks, will also be cancelled. · Additionally, if the Company generates annual EBITDA above $6.5 million between 2016 and 2024 then a contingent payment will be due of 50% of the excess of annual EBITDA generated above $6.5 million up to a maximum payment in aggregate of $8.0 million. Proposed Private Placement · The Company intends to raise approximately $8.5 million (before expenses) by way of a Private Placement from both existing and new shareholders. · Of the net proceeds from the Private Placement $6.3 million will be used to repay the lenders and the balance will be used as working capital to support the business operations. · The Private Placement is interdependent on the completion of the Bank Refinancing. · Completion of the Private Placeme
Just noticed the RNS from last night Crazy
1% dilution = 21% fall....well overdone ??
Q1 next year before the multibag potential is on the table,imo
Expecting to see a trading update shortly.Turnaround will happen then.update on new orders.new factory production in ethiopia should give some upside as well.profit margins should improve because of zero duty on goods shipped from there to usa and europe.
6.5p to buy. Small buy pushes it up.
Low freefloat a few buys and this will rocket.more orders in the pipeline will give confidence.cost cutting measures now in place.Turnaround stock for 2015
Nice buy today.hit bottom I believe. Turnaround soon for this company.bargain of the month.!
And here. She goes
Looks well oversold.looking to take a position here now
Well oversold but potential for uplift in SP is there! DYOR
I personly do not think I will be buying into no more ipo , to many people are losing money in to many ipo that have been released, each to their own decision
whilst you are undoubtedly a good trader i think it is appalling that you keep rubbing peoples noses in it by saying things like' you were warned'. Im sure people feel bad enough her seeing the sp fall and they dont need comments like that- shame on you! I think you should keep those opinions to yourself
Tipped this weekend as a turnaround play for 2015. Banking covenants renegotiated as announced in the Interim Results. The revised covenants will be evaluated on the accounts at 31 December 2014 and every 6 months thereafter so could be a good punt if BAGR's next trading update is in line with expectations. Bagir Group Ltd (BAGR) Few companies have managed to disappoint as quickly as Bagir (BAGR) so it is no surprise that investors' have a lack of trust in the company. On the 15 April 2014, the designer and supplier of formalwear joined AIM and raised £20 million (£17.6 million after expenses) at 56p a share. Bagir is currently valued at £5.02 million at 10p a share. That share price slump is because, exactly one month after flotation, management warned that there had been an unexpected reduction in orders with Marks & Spencer (MKS) considering changing its purchasing policy. Marks & Spencer and Arcadia are Bagir's two largest clients. This meant that 2014 revenues are unlikely to be much higher than the 2013 figure of $99.5 million and underlying EBITDA's expected to be between $4 million and $5 million, compared with $6.1 million in 2013, but there will be a pre-tax loss. There have been cost savings and further operating efficiencies are planned in order to return Bagir to profit this year. There was cash of $16.6 million at the end of June 2014, but also $25 million of total debt. Since then, $1.5 million has been spent on a 50% stake in an Ethiopian production facility. The factory will be upgraded so that higher quality clothing can be produced and that will be completed in the first half of this year. Last July, Artemis increased its stake to 13.3%. Admittedly, Hargreave Hale has trimmed its stake recently but it still owns nearly 17%. The shares are trading on less than twice 2014 EBITDA. There is a business here it is a question of showing that trading has been stabilised. Most importantly, the management has to get back the trust of investors. That could take a long time so the low rating will not change overnight.
>>,,,///...
yep (that was the quickest response ever lol)
Didn't the company raise any new money when it did the IPO. Debt still US$ 9 million and loss making for the foreseeable future - still watching from the sidelines. I suppose the directors cannot buy (even if they wanted to) until the results now in September? Conditions on the high street not improving either (-0.3% year on year) so their "big customer" is unlikely to increase orders any time soon...
That's it -I'm all done. If you are going in poss the time is now then sit back & watch the fun over the next 1-6 m. As always DYOR.
Me thinks MM's are a playing a game here - my personal 4 buys over last few days are all showing as sales plus many others are? I wonder why that is!