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The grey parrot is now officially ours!
I agree it is good that they have removed the significant risk associated with the brand by now owning it, however given the general lack of cash on hand in the last set of Finals I'm surprised that they have a 'spare $2.5m' to pay for it. It's also ironic that the RNS was referred to as a trading update but didn't really give one, though instead contained vague statements about cash flow and expansion to try and give the SP a boost / the announcement a positive spin! IMHO until there are some hard numbers demonstrating improvement / turn around this is still NOT an investable share.
"These steps are having the desired effect and accordingly fastjet aims to achieve a cashflow break-even position for the final quarter of 2017. " That would appear to be the trading statement.... mind you...beware the term "aims to achieve" ...suggests they are not totally convinced it is going to happen...but will give it a try !!
" And Stelios seems to still own the best part of 8m shares and is back onside and supportive, judging by his comments." Well one would assume that he now feels that having basically gone completely backwards,almost to the point of starting from scratch once more....things can really only go forward. He certainly would be supportive of all the cost control measures put in place
shylock, as you say I suspect this was at Stelios' behest rather than something Nico actively sought. I also wonder if it basically signals an 'exit' by Stelios as he's been given a chunk of cash - for the only meaningful thing of value / connection for him - and has otherwise 'written off' his shares and prior investment, but is hedging his bets (by not selling out completely) just in case Nico does cause the Grey Parrot to rise like a majestic Phoenix!
As someone nursing 99.5% losses anything is welcome; but the graph is outrageously mis-leading about another line with share volume - no true price without volume.
As someone nursing 99.5% losses anything is welcome; but the graph is outrageously mis-leading, how about another line with share volume - no true price without volume. Price up but little interest. Massive averaging down opportunity, but.......
Whoops already did the first bit, sorry.
I think keep you powder dry. Signing off. BP
This includes “evaluating expansion options to further geographies” with further announcements to be made in due course. ---- The above taken from recent RNS is so exciting!
Fjc... Stark contrast to how you were feeling on the 31st May....what a difference a month makes :--)
The share is still a dog though thank goodness my investment is just a punt as are most AIM shares!
Indeed as I have no reason to doubt the long over due RNS,just heading in the right direction,great to see FJD behaving and giving us 11hours plus utilisation.