The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
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. 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.
Shocking RNS
It’s worth nothing-jump before you are left with nothing
I saw this on ADVFN Share-chat so my 0.48p buy this morning has now been sold for 0.6p....small profit for evening meal and drinks..lol! If this is true I can't see any value for ordinary shareholders but good luck to all holders (I have felt this type of pain many times in my AIM shares. I accept poor decision making leading to a downfall but many of my wipeouts have been the result of blatant theft....I'm not suggesting Esken Ltd. fall into this category )
"Cyrus are owed 53m and will end up exchanging this bond for 17.5% of LSA, via an equity issue which will include all money left over from the disposals. There is nothing left for shareholders. Management have sold out shareholders to keep their jobs. This was always a huge punt."
Ditto
Well i have been just about wipedout but i refuse to sell and am sticking it out, been plenty decent buys today and cant understand why it has went so low GLA
Agreed saw 17.5% and must feel short changed where Carlyle group prev. were talking about taking a 30% stake for their £200m? Does not make much sense on previous values for a Judge to be concerned.
No mention of Carlisle airport either which shareholder own. For months Southend Airport has been advertising why one should invest -so can see a revolt coming from existing shareholders or an alternative from the big shareholders. Not done yet in my own opinion. Just as Easyjet announce on MCN news flights too. Value might increase for the Airport now if it does carry on without debt enough to have alternative proposals? We can live in hope but surprised what we have seen with Shareholders being told previously what a robust position Esken are in for the convertible loan terms??
Struggling to understand how this can be a wipe-out, when they still own a 17.5% stake?
I get the fact that the shares are to delisted and the expectation is a negligible if any return for ordinary shareholders...but I have two questions:-
1. "conversion of the £24.3 million debt due by LSA to Esken Aviation Limited ("EAL"), a wholly owned subsidiary of the Company, into a 17.5% stake." does that not mean we Esken Ltd. still own 17.5% of LSA.? and if so would ordinary shareholders not still own the same albeit with delisted "private shares"
2. How come the shares being sold today are not "No trade"? Where is the money coming from to settle the sell?
could this be a punt to buy at all?
Well this company was part of the consortium that shafted Flybe shareholders and whilst I do not like to see other private investors lose money I am hopeful that some of those involved in that deceitful episode have got their come uppence.
Still some worth left but not for long. I’ve just sold all my holding at a loss, was a gamble, didn’t pay off. You win some you lose some. Won’t be worth a carrot soon.
So what happens now .. do we sell what little we have ? Are they worth less if it’s going to be delisted ?
The end of the road-appalling but I don’t blame the current team.This goes all the way back to previous management with a fixation for deals and debt
Press Release Today from LSA website
London Southend Airport has today announced that easyJet has put thousands of additional seats on sale to Paris and Palma de Mallorca this summer from the award-winning airport.
The airline will operate an extra Sunday service to Paris Charles de Gaulle between July and August, in addition to its existing flights on Mondays and Fridays during this period.
easyJet is also adding an extra Thursday flight each week to Palma de Mallorca over the busy peak season between 27 June and 24 October. This will mean up to eight weekly flights to the Spanish hotspot at times during the summer.
CEO London Southend Airport, John Upton, said: “This increase not only enhances connectivity but also provides travellers with more convenient options to explore these two vibrant destinations. London Southend is committed to continually developing and evolving the travel experience for our passengers, and this expansion is a testament to that dedication.
“The addition of these easyJet services also indicates that demand from
Good points. Some life in the old girl yet.
But also agree with others would’ve been great to get clarity for once - however, I don’t think they themselves have that to give us
A lackluster RNS, however it would appear that Carlyle groups hard ball has softened. I think that alone is promising. March 4th was very specific and what seemed a make or break deadline.
Now, with the lack of a specified date, it’s open ended.
Agreed-very poor
Extension - Date /Time period would have been nice.
Looks like tomorrow morning then for the RNS!
Not sure there’s any point me reading into it not being intraday today but who knows, at least no news is (okay) news for the time being haha
Newbof
Exactly my feelings on this one, not worth a significant punt but if they pull off a satisfactory deal, the upside could be fun.
We shall see
GL
Identical position to you! True punt but we’ll see.
Wouldn’t say I’m very confident but would like a pleasant surprise - not going to make or break the portfolio either way
Just saw on Southend Airport Facebook page they are increasing flights to Paris and Palma this summer courtesy of easyJet
Just had a wild punt on this as it seems today is D day!
Watched ESKEN for some years now, the decline in SP is phenomenal. As of this morning I’m now holding just under 1.1m shares, an all or nothing trade which I accept may well turn to nothing but worth a punt if ESKEN can manage a reasonable settlement.
Looks like someone is doing just that a large 500,000 purchase just gone through. To add to someone very large trades that appear to be a buy rather than an indicative sell. Interesting!
Not too much longer to wait given the 4th March deadline.
I imagine we’ll get the RNS Monday morning - let’s hope there is some positive stance there
Yes I have seen the range of the share price being altered on the day to keep the price suppressed and I wonder if there is therefore a shortage of shares actually being sold and so dealers are trying to get more to sell to buyers where they hace a shortage of their own stock. Some will then panic on an indicative lower day price and sell. I see this as a time to buy! I cannot see the past big boys who have backed this share allowing their own share ownership be watered down by Carlyle Group, and so we might be getting something positive soon. GLA/DYOR.