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share holders screwed over and peel holdings or emirates get their baby back from administrators. directors walk away to screw up their next companies.
Does this mean the trafford centre and all other centres intu are involved with will be closing down? or is there potential for it/them to be bought out?
If shares become worthless then they have hit a jackpot as they dont have to return anything.
https://www.companyrescue.co.uk/guides-knowledge/guides/putting-a-company-into-administration-3761/
The massive buys will most likely be hedge funds closing their shorts as even if the shares become worthless, they need to be returned back to the original investor.
The people buying smaller quantities will be clueless novice retail investors, this type....
https://edition.cnn.com/2020/06/19/business/robinhood-suicide-alex-kearns/index.html
wiggy,
not sure any one can answer that, it will be voluntary administration.This can throw up many different scenarios, its not good but its certainly not 100% certain that shareholders will receive nothing or the company will not resume at some point.
However better to sought it today...for ALL concerned...imo
Shareholders get nothing if it into administration. Happended to me a few times, I got nothing.
Can someone help me out...
If this goes into Admin, does this mean all share are worthless?
If it gets rescued are the shares still trading
Can it go into Admin and then get bought out? what happens to the shares then?
"The safe way to double your money is to fold it over once and put it in your pocket."
Kin Hubbard
Big Sell off
HPB Pension Trust
in the 1.70's.. MKT Cap is 24M..
I guess those playing the gamble are held and those taking their money have ran!
Time will tell now.. just over 4.5 hours left for trading!
I am going to keep my shares in, I only have 40k shares so pittance. Unlikely they will survive but risk/reward ratio is worth it given the terrible value!
INTU is just a holding company , Admin will not mean job losses or stores closing in fact no one will notice anything changing apart from the Shareholders losing everything. Wouldn’t be surprised if a prepack has already been set up like interserve. IMO Suspension will be after the close so up to you if you leave your money on the table when you leave.
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
That’s assuming trading won’t be suspended before then.
I have not be tempted to buy at all so at least i can say i am not one of the mad ones.
everyone will bail jjust before 4.30pm soas to not be left holding a worthless piece of paper so to speak.
Who is buying ? The same kind of people who were buying Debenhams and flybe hours before the collapse . The world is full of fools/pathological gamblers as displayed by recent posts on this board.
A REIT is a UK company or group that invests in property and enjoys a measure of protection from corporation tax in return for an obligation to distribute a significant amount of the REIT’s cash flows to shareholders.
As a REIT, intu doesn’t pay UK direct taxes on the income and capital gains from its qualifying UK property rental business (the ‘Tax Exempt Business‘).
As reported on HL Today
Sharecast News) - Shopping centre owner Intu Properties said on Friday that it is likely to call in administrators after failing to reach a standstill agreement with its lenders.
The owner of Lakeside and the Trafford Centre said that since its update earlier in the week, discussions with creditors have continued over the terms of standstill-based agreements. However, "insufficient alignment and agreement has been achieved on such terms".
With the company's revolving credit facility covenant waiver due to expire on Friday evening, Intu said it is considering its position "with a view to protecting the interests of its stakeholders" and that this is likely to involve the appointment of administrators.
"A further announcement will be made as soon as possible," it added.
Intu had already warned on Tuesday that it could go into administration and said it had appointed KPMG to "contingency plan" for that eventuality.
At 0955 BST, the shares were down 56.3% at 1.71p.
Colm Lauder, real estate analyst at Goodbody, said: "Intu had clearly been in distress due to the rapidly deteriorating retail market conditions especially under Covid-19, however, this outcome will still make some retail landlords and investors pause. Many would have thought that Intu could have avoided administration since investment markets remain effectively closed, with landlords unable to sell assets - particularly shopping centres.
"Administrators will face considerable challenges given the significant asset management requirements to stabilise these shopping centres. The threat of a fire sale looms large and would cause a negative ripple across the sector."
Read Hargreaves landsdown news article today. Admin is a 95% certain I think.
Yes the bod that have taken a billion £ company to just a penny will take no responsibility and blame everyone else. They could easily have raised a billion in new equity a couple of years ago and / or sold off some smaller centres. But of course a lot of people will make a lot of money out of the fees involved here. The pension funds and those who invested in a reit .....a reit ffs....aimed at being a very safe investment, lose everything.
The Shopping centres may close for a short time, probably not.. Administrators will run the centres until a new buyer is lined up - shopping centres will continue as usual but under a new owner / landlord. Nothing changes to the public other than new branding of these centres. Its a split of assets that is all, some great bargains for some to buy some decent centres dirt cheap! Always winners where there are losers!
Buying now and selling quick may make a few quid, might be worth a day trade.. but this stock has no legs, no money and is sadly on the way out of business!
Even all the Gamblers that have bought in the last week or 2 at sub 5p... do you really think you will even get close to money back on good news? expecting a 100 - 200% rise this afternoon? That is not gonna happen and that is to break even.
Talk in the week off seeing this go to 20p by COP Friday... so people are gambling on a 1200% plus return from a company moments from Administration and only buttons in the bank?
I think your rocket's failed! :)