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What are you on about, the adminastrators have already been appointed and they will decide who takes over the Mcc business.
It doesn't matter who takes it over the share holders no longer have any value or claims all money has gone.
Just come to terms with it.
It's not relevant. Same thing I saw with other suspended stocks. Click on deal now and it will state this stock is suspended.
Could be a good sign
Not on my account
As much as I would like this to come back on the market, it’s highly unlikely as it would be unprecedented. Seems like a mess but the administrators will milk this now and shareholders are last to gain anything. In theory there may be a chance but it’s slim so people shouldn’t hold their breath. This is very likely going to give us zero return.
And deffo shows as suspended on hl.
1.66 to buy and sell - they were showing as suspended before so I think it's relevant!
They are suspended though. So irrelevant.
No RNS showing on Stockopedia yet but my shares are not showing as suspended any more on HL which is a good sign :-)
Administrators are set to be appointed for the business which has 1,100 stores. so not yet. Interesting
We are not in Administration yet!!
Both interested parties have been told to put in their final bids by 6pm Sunday.
Therefore mccolls have bids in before administration and also bids which will be acceptable to the lenders.
Talks were progressing well with morrisons, who are mccolls preferred bidders.
For any bid to be accepted, it has to be put to shareholders as of now we are not insolvent.
GLA
I guess there will be quite a turnout tomorrow at the 7am RNS club.
See you all bright and early. Goodnight and good luck.
I also have little faith that any deal will include PI’s, but there is the slightest glimmer of hope now. That is way more than all of the self righteous and self confessed experts gave us. Not long to find out now anyway
The BOD should still present themselves to shareholders at the AGM, line up with their pants at their ankles while bent double, and let each shareholder give them one boot in the bags/foofoo. I’d be happy for my shares to be cancelled if this were an option.
This stinks of corruption, or at the very least, incompetence.
drizzy90
How strange that the EG Group suddenly will fulfill pension obligations !!! Absolutely shocking !!!
It's that old chestnut of when you HAVE to do it you will do it !!! The whole thing STINKS !!!
I have little faith of a deal that will include us PI's, not getting my hopes up tbh, best expect the worse and anything else is a bonus.
Good night.
Well if the sources are correct, then both Morrison’s and EG clearly see value in this and the money is there. What will be extremely disappointing is that a small portion cant be returned to existing shareholders.
I’m on Morrison’s Team. ??
To be fair it’s great that there is a potential rescue situation here, that protects jobs at least in her short term and pensions.
Whether keeping the business solvent as a going concern results in survival of shares remains to be seen, but it’s best to consider them lost.
A great story though, intriguing if nothing else.
The bid from Morrisons – the sole supplier to McColl's – would have protected the 'vast majority' of staff and stores as well as its £141m pension plan was rejected on Friday.
But Morrisons returned with an improved deal that would see the lenders repaid in full immediately, satisfying one of their key demands.
EG Group is thought to have followed that up with its own last-ditch bid – including a commitment to honour McColl's pensions, according to sources.
It is thought that PwC, which is advising McColl's lenders, is preparing to set up a showdown between the rival bidders in which they will present their best offers for the group.
Makes sense Mazbridewel
A deadline was set for 6pm on Sunday for full and final bids.
According to a Twitter quote
‘Reliable sources, says Mccolls deal is done.’
very odd how a temp ceo was able to put it in admin in 6 weeks
credibility
IF 'Morrisons' has it in the bag then they won't want bad publicity by shafting the PI's.
For what they would have to payout (4p x 280 million shares maximum, 1.675 minimum) isn't worth the potential lost long-term revenue. After all they want to secure as many shoppers as they can to make this whole takeover viable.
The same should (in an ideal world) apply to the 'brothers' (EG Group).
It is clear that whomever gets across the line needs to fulfill obligations to the pension pot, surely the same should apply with the shareholders, what might take them a while to recoup surely has to be worth it to them long-term and for creditability.
GLA ATB