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I hope so ! the ripple effect of these centres closing temporarily will be devastating especially when all of the lockdown measures are easing.
Anyone know what time to expect the RNS ?
Going to be a hot, balmy, uncomfortable night....& the weather won't help either!...
Potential multi bagger here tomorrow if all goes well! £Kerching!
Sains has a motive IMO and it will be selfish same as the holders. It's to drive sp as low as possible for a gain unlike holders who want the reverse. Possibly going bust is the outcome desired so that the vultures of whom Sains may be one, can come and pick on the carcass. I hope not and creation not destruction prevails.
Tomorrow we will all know. Until then, sleep tight and don't let the bugbeds bite!
So the other day we've someone going into a shopping centre to ask for a refund on his stock loss. Today someone walking around bare naked!
https://www.google.com/amp/s/www.derbytelegraph.co.uk/news/derby-news/naked-man-walking-around-intu-4264498.amp
INTU attract some punters!!
Eldon Square is financially viable and is a going concern and there has been sufficient rent paid in the in the last quarter to ensure that there is absolutely no reason why Eldon Square should shut for any period of time even if Intu were to go into administration.
Lets not forget, the single largest shareholder of Intu is The Peel Group. Peel sold The Trafford Centre to Intu. It's a complete spider's web of an organisation and I don't think Intu will go bankrupt anytime soon. I hope not anyway.
The reality is that these situations rarely end well for equity holders, especially PIs. Bond holders often end up ok. That’s not being negative, it’s just reality. Maybe the ‘punters’ will get a little if it is saved, but I would think long term holders will see a horrible dilution if the best case scenario plays out. It’s just my opinion, I only had a tiny punt today at 4p in case the government wanted to help try and save the retail experience right now, but my eyes are 100% open as to what could happen. Not an expert, just saying how I see it. That said, I wish everyone in this good luck, especially long term holders as it’s a horrible way to see money go.
Sain, are you a PA in real life. God with so much negativity, who would ever promote you. I think the room would go quiet when you walk in.Comments like,he is still taking about it days later. You don’t get it. Now explain to me once again if it helps you. What is going on here and give me reasons why I should sell my holding here.
We need to note... British Land are looking at Trafford Centre on this basis...
"Preparations being made should intu collapse"
theres no guarantee they will buy it now.... the vultures are circling.
like i said in March's Rns they confirmed they had cash £180 million and were being prudent.... on top of this they would have had march's rent, the £90 million in May and also rent from today..... if they had paid debt they as required they wouldn't be in this position so my guess is this money must be in their account (i guess about £350million). Their annual results show operating costs are no where near £350 million for the months March - now (approx 3 month) and if they haven't paid anything then they should have £350 million minus operating costs for the period March - now in the bank... to state they have no cash... i simply cannot believe..
Back to £1 and I’ll be half a millionaire :-) can live in hope!
Pickers All that cash is comandeered by covenant breaches .What don't you buy about only a fraction of rents coming in for June quarter day?
Hasiba
This is not speculating this is what is happening in real time The arithmetic doesnt lie A great start with TC but it doesnt solve the problem alone
current cash in March's RNS Intu said they had cash £180 million and was preserving cash through lockdown and being prudent...further Intu was expecting in may £90 million from the Spanish sale.. this on top of about 30 percent rental income and todays 70% anticipated rent collection..... so that must be £350 million they have at least... i do not buy that Intu have no cash.... whats to say they can afford to pay the sum due and are just playing hard ball and refusing to pay it like some shops and doing with Intu? Thats the bit thats confusing me.... where is the cash going because were talking million here..... still holding my shares but reading between the lines on the RNS's something isn't right .... they must have cash
There is plenty here to play for. They are still talking ,that means the agreement is on the cards. It is cheap as chips and if the agreement is announced soon, next week ,accept the share price to multi bag.Happy days,fingers crossed.
Sain....
You are speculating negativity all the time today.....
Are you that sort of person “half cup empty“ or you have another motive to see SP lower?
Or perhaps just want to have company with others ?
Give it a rest matey!
So No RNS tomorrow?? The Facade spills into next week and beyond?? Uuggghhh
Anybody lining up to buy one of these centres will make sure that retailers are allowed to continue to trade There will be clauses in leases which tenants can take advantage of if denied entry .
Posters here somehow still think that creditors are somehow going to forego the opportunity to rape and pillage so as to leave something on the table for private investors
From the RNS dated 23/6/2020
“If the administrator is not pre-funded then there is a risk that centres may have to close for a period.“
Same here.. the west midlands are connecting Dudley up to Merry Hill Intu..they've started the works think completion is 21/22 but the centre needs to be better than it is
It will close at least temporarily and this was stated in the rns...no money to keep it open and administrative costs..staffing..etc..
The centres aren't going to close if picked up by third parties
Timetomultibag
It really doesn't there is no cash injection unless creditors agree Every penny is earmarked by someone or other .It doesnt provide £1.3bn for the revolving credit facility
The revised four-year, £440 million RCF is conditional on intu raising a minimum of £1.3 billion of equity and will replace intu’s existing £600 million RCF that is due to expire in October 2021.