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Rarely G
Please try 2 understand the basics of a business with large debt with no money & no one prepared to lend it its over are you for real?
They look like a load of backroom staff from a textiles company in Romford.
That photo of the board really ****es me off! It's a ( was a ) Billion pound turnover company and for the official website photo it was deemed that wearing a tie was not required.
5p very conservative, 10p a fair price. Let's see what happens s this afternoon. Monday will be boom time.
I've just sold mine to MickR for 2p. He still reckons it will go to 5P
What's fact from the RNS is the banks want there money. Any offer would need to guarantee that as a minimum.
Not sure how Morrisons will cope with 400 of there shops moving to Asda. They have a lot of skin in the game.
Not ramping as probably nothing for shareholders but how it pans out will be fascinating.
They changed their minds and suspended in May. RNS covered their ass to change their minds.
The thing that bothers me most about all of this is that the company told us clearly in black and white that there would be a suspension of the shares on the 1st June.
There have been several updates since then, including the press speculation RNS last night.
This was a pure gamble for many (myself included), but I thought it was a calculated risk given the information known.
I’m not sure what else people are supposed to do if a regulated company can say one thing and do another. This is the end, and the vultures will be all over this to pick up the bits they want, leaving the shareholders with nothing, after it was them that provided the funds.
At least the BOD will still get their wages, they should be ashamed of what they have done.
My last point - it’s only money, so we live to fight another day. Try and ignore the trolls, they aren’t here to help, only to make their own pathetic lives seem better by comparison.
It’s theoretically not dead. But face reality it’s dead for shareholders.
A company's shares will be suspended when the business goes into administration and there are no real options for ordinary investors to trade them beyond this point, even if a buyer is found for part or all the business such as issa brothers. In most cases the shares will eventually be delisted, shareholders are always back of the queue, Debenhams and Thomas Cook for example. This is the same case. The shares will show as zero in a month or so once administrators leave no money for private investors.
can EG not stop the process of administration rolling out...?
You could agree a deal Un suspend for a bit I guess but why would anyone allow that. Administration companies make a fortune by managing a bust company. They won’t miss that payday.
Correct.
Any rescue package will not include shareholders, anyone who says otherwise have not been passing the dutchie to the left hand side.
Had nearly 10k riding on this and on a night shift tonight, what a lovely bit of news to wake up to ha!
It’s not in admin yet. But it’s a formality it will. That way the sale can go thru. Administration company will get paid and shareholders lose everything. It’s always the case.
Correct. Even with a bid this will not benefit shareholders and we will all lose 100% of our funds.
…. Going in administration means shares worth zero now?
McColl's lenders, which include the taxpayer-backed NatWest Group, are said to have demanded the immediate repayment of their loans, to which EG is said to have agreed.
bod did say it a few times only glitter of a hope is if theres 2 buyers only way shareholders might get something.bod will already have done a deal backhander for a few quid in their pockets.shops and jobs remain equity gets wiped out
You're wrong. They will bid for certain shops, this will be fully delisted.
Disgrace.
Some shareholders here paid for the conversion for Morrisons and today their reward has been dished out. What a complete disgrace.
There is zero chance of shareholders receiving any money back now. This is finished. Even with a save from the issa brothers that may retain some staff and mccolls shops but nothing will ever go to shareholders. Shame.
It's not over by a long shot, the lads from Bolton will save this one. I fully expect trading to resume on Monday at a much higher price than 1.6p.
Enjoy the weekend everyone, lovely weather out there.