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Rodger...to be honest with you i dont have a clue whats going on anymore...Bod says and does things that suits their own agenda...
1. suspension 1st JUNE!! lol.....the they suspend 6th may...
2. Agm ...shareholders will be welcomed on 31st may.....then few days later there is no shareholders...
3. Banks deadline missed!!! LOL.....we didnt even know there was a deadline only found out when shares suspended..
4. ISSABROTHERS made a counterbid......no one seems to know....officially .....FKN they say we respond to press rumours....why the F did they not mention ISSABROTHERS by name...as all media platforms are...they still havent....
5. Ex ceo...."we will be ok as i am a holder aswell"....few wks later we are not ok...
6. They mention ADMIN...for 1st time....then few hrs later...Suspend....after chance of ADMINISTRATION was mentioned.....we should have been able to trade....foe atleast few more wks.....they could have easily mention ADMIN be4 friday....could have said t wks back.....CORRUPT...
INCOMPETENT Bod simple.....
What will happen next is anyones guess..
like many i also believe shareprice has been manipulated. On friday we traded 140M in just 3/4 hours...had we kept on trading...we could have easily hit shares in issue 280M.....shareprice could have rocketed......when i was in RAY all them years ago....shares were still trading whilst bids and counterbids were made........imo it would have been fairer if suspension did not happen in here...and bids and counterbids were made in open.....just imagine....if they had rns'ed stating...offer from Morrisons declined...and issabrothers offer is being considered seriously....intially we would have dropped due speculation that shareholders would be wiped out....but if/when morrisionscounter bid came we would have risen again..then it would have been in issabrothers call whether to out bid morrisons latest offer.....
point i am trying to make is.....after thursday's rns ( after market had closed ) in which they used the word admin for 1st time..share only traded 4 4 or so hrs be4 suspension...CORRUPT as anything.....Just imagine these rumours doing the rounds re-Morrisons latest bid happened during opening hours and we were trading......
We are as investors/traders want open level playing field ...most of times.... we lose-out by this corrupt system.....Guys above get away with anything no accountability...
This share was always risky and most likely ( 99% ) wont return ...little chance that is left i.e 1% i am sure many will be glad to see it...even if on return we get back at worst lets say 0.5p share....atleast that will be something....better than 0.....but in all honesty it is still looking very very bleak....i have written my holdings in here off.....but would be very glad and happy to see this rise back again from the ASHES.
Morrisons should do the decent thing and TAKEOVER mcls in full including shares in issue..albeit at discount price....as it was shareholders who bailed mcls out not long ago with £30M worth of their monies....
In ideal world....what would be nice....suspension lifted tomorrow....7am...let Morrisons/ISSABROTHERS....fight it out amongst themselves in open...LEVEL PLAYING FIELD........will ut happen/ Highly unlikely....due to corrupt system...if it did would be most welcomed
im wondering if there was a particular reason why share price was trying to be kept low... that would be a logical reason. we will see.. its like a price matching war, I just hope that a deal with a bit of glitter (ie for shareholders) wins the day.
Elephants in the room.
The Bank and the Hedge Fund...
They are the ones who will have decided by now..... but why the heck did Morrisons not just offer to pay the bloody Bank back last week??
To be fair Rave that's why most of us are here to share views and opinions .
As a story this one has had more twists and turns than anything I've seen and is mega interesting.
and Morrisons have a half decent brief, then the Judge should grant extra time or indeed throw the request out.
Lets just hope he cant find his car keys in the morning!
What a game this is....
The fact is, none of us know what's going to happen. I'm expecting nothing and waiting until tomorrow. Everyone will be on here now saying 'oh yes it is. oh no it isn't.
We will know tomorrow, good evening all.
Pre suspension of 1.75p represents £5m. Not huge and an offer bringing shareholders into play at 1.75 would secure deal.
Not convinced at all that will happen but its a logical reference point.
Banbury - debt for equity would be one way to go, but Co. can't apply to issue shares while they are suspended. So trading would have to resume, IMHO.
I've been saying for weeks there was no way Morrisons would let this go into Amin as it meant having to bid for the conversions and 50% of Morrisons wholesale is McCols.
Like others I thought Friday I called it wrong.
My view is Morrisons will push the board for a debt for equity swap which will wipe out shareholders.
Don't think Issa will come in with a counter.
Still think I've been wiped out but feels a better outcome for the employees and pension fund.
Supermarket chain Morrisons has tabled a new offer to buy the troubled convenience store chain McColl’s Retail Group.
EG Group, the petrol station empire owned by the billionaire Issa brothers, has been poised to buy McColl’s which appointed administrators from PwC for its 1,100 stores.
But Britain’s fourth largest supermarket group has tabled an improved offer.
It already has a partnership with McColl’s and has offered to take on its debts. It is also understood to be willing to match EG Group’s offer to pay McColl’s lenders – including NatWest Group – in full, as well as its pension commitments.
I have always felt that Morrisons are too heavily committed to let this go, so IMO it depends on the brothers. If they were just being opportunist, then they may walk away. But if it fits their business development strategy, then a possible bidding war and SP may have some value.
Or maybe both parties reach an accommodation, and carve up McColls between them. Interesting times.
im not sure who's in charge at the moment - PWC or McColl's - we will soon find out I guess
Mike - it can indeed be cancelled. For me, this all hinges now on personalities, politics and willingness to reach a fair decision for all.
50/50.
Well they will have to RNS any development at 07.00 in the morning if a deal is agreed tonight. Depending on the details the suspension on trading could then be lifted. I'm cautiously optimistic. We will almost certainly no one way or the other tomorrow.
Thanks MD
if some magic happens how will it work? will we get another RNS or will the beast rise upon its own steam and bulldozer the stockmarket when its on its own 4 feet? certainly an interesting ride. im not sure wether to look or run away and find new pastures. I was goner hide behind a hedge but even that is risky. we defo need a miracle :-)
I am not a shareholder here,but I hope Morrisons will save those invested here from a financial disaster.
According to Sky News
"However, although technically McColl's may have been insolvent at the point that its lenders declined to extend their waiver, PwC's appointment had yet to be rubber-stamped by the court by the time it closed on Friday - potentially leaving a window for a further counterbid from Morrisons."
Not sure where we stand but could Morrisons stop the administration process...?
Surely, it can be 'cancelled' if everyone gets their act together & it's legal to do so...!?
It would be a great start to the week if Morrisons have succeeded - will just have to wait and see.
So glad that rubber stamp didn't get used on Friday afternoon - fingers crossed everyone.
I've written my shares off too but it would be amazing if they were resurrected tomorrow
It won’t make one jot of difference what any of us think or say, the outcome is in the hands of lawyers, with a lot at stake. Not least for staff and their pension scheme. It would only be right for Morrisons to do the decent thing and save the whole business - especially since they have been working so closely through the whole debacle. I hope this wasn’t a ploy just to pick up the bits they wanted on the cheap.
Whatever happens it will be an exciting start to the week.
This share larks a right lark isn’t it?
'Morrisons' are currently the 4th largest supermarket.
IF this does not go through for them then they could kiss goodbye to that position forever, especially IF the 'brothers (EG Group)' secure the deal.
The buying power they would lose would be immeasurable.
It's unclear whether EG Group has come back with a revised offer.
A deadline was set for 6pm on Sunday for full and final bids.
https://www.bbc.co.uk/news/business-61370179
Just hope for you All and (myself) 'Morrisons' have signed on the dotted line.
Remember, Morrisons is owned by CD&R a US private equity firm who also have a big say in this.
@rare, until this new piece of information was made available yes there is still an opportunity for shareholders to get something back.
However, once administrators are called in, there is little to no hope of a deal which will favour shareholders.
Once a company is formally in administration, underwriters will look to sell off any assets to repay bank loans. shareholders are the least of the priorities.