The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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who was brave yesterday to buy ?
The owners of Stobart Air are in talks to secure £120m of emergency funding after being left on the hook for aircraft lease payments worth tens of millions of pounds. Esken, the London-listed conglomerate formally known as Stobart Group, is closing in on a deal to sell a 30pc interest in Southend Airport to buyout fund Carlyle. - Telegraph
Happy to admit I was wrong about this one.
What a bull trap if I ever saw one.
Hi TF - Not sure I'll be jumping in early doors tomorrow, there is a lot to come out here.
Additional cash impact arising from the liquidation for YR22 - YR24 without sub leases is estimated at 82M
Am trying to put myself in TOSCA's position, it bought in for 30% of the equity here at 70p + average, can't remember it might have an average as high as 75p, would have to look back on my previous posts.
Will it be happy to allow a deal for an outside partner to buy into LSA, for survival cash, at the cost of trading away a large chunk of the underlying asset ?
Would it be better for TOSCA to take ESKN private, for a low ball, figure, accepting the bank debt and the SA liabilities, then deal with the potential strategic partner, at that time.
We'll find out over the coming weeks, any day trading will be fun here.
gla
G
Hi Birddog - yep saw that update on PR NewsWire over on the ADFVN bb - Dr Biotech picked it up.
Lots to digest here. The BOD seems to have now flip flopped on the Energy Division monetisation, from the report, be interesting to see how revenues have recovered here.
There is no doubt the impact of the Liquidation will present challenges for ESKN under the termination agreement and attempts to sub lease the aircraft.
A strategic partnership from LSA, could be in the offering, though ESKN are in a bit of a financial hole, and don't have a great hand to play, the " Strategic partner" would appear to hold all the aces.
The terms under which ESKN are able to draw further funds from the Facility B banking agreement would have to be met. Mention of a modest equity raise, puts it right out there.
TOSCA will have much to say on any ongoing plans.
Feb end Annual report still due out by June end.
Never a dull day here. Looking like there will be fun and games on the open tomorrow, when to trade and how long to dip ones feet in here is the question.
gla
G
Due diligence and who audited or checked the new owners?