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Nm
Each time it hits 2p people are selling. Trouble is with that. when it suddenly jumps to 3p and beyond the regret will be following you around lime a bad smell for a long time.
Do we get a takeover announcement?
i am going to JUMMA now....will be back around 14:30/15:00 insha-allah...
Hope volumes continues...
so far 140M traded thats 50% of shares in issue just one word WOW!!!
neilllmcmc11 just bogger off , your borin me with you inane posts.
Neil I've explained it in all my posts. Latest being shareholder approval
For a guy with 20 years experience in this I would for one be gratefull if you could offer some more incisive insight on why I'm wrong .
The first thing I want to say is "only invest what you can afford to lose" on any share. It is boring but an important point.
Everyone invested here are grown ups and realise the risks here, if they are invested. It is high risk with a potential high return. But equally if there is no last minute saviour then shareholders could lose everything.
So the points made above is we need to be BALANCED.
No one made big gains acting with the herds. There are times when you have to be brave (or crazy) and go in the opposite direction of the market. If the rescue package does comes off to the benefit of the shareholders, then no one can say they did not get great average down opportunities here.
I personally have never seen RNS's along the lines of what we have seen here as there are things commented on, which would not normally be referenced. An outsider looking in, might conclude that it is almost in someone's interest to downplay the prospects of a rescue package, in order to keep the share low ahead of a rescue bid.
Irrespective of how smart people think they are on this board, both the for and against, this is not a done deal yet or a dead duck. You would not see the SP maintain this floor of 1p and strong buying into the sells if this was a dead duck.
The BBC are known for reporting some stories after the event, as they prioritise what gets reported when. So I would not take any notice of what they have put out. As a BBC news report on a Thursday can sometimes be reporting Tuesday's actual events.
Either those in this share have got things horribly wrong OR they have read between the lines and joined the dots. This right now does situation does not ADD up, when you stack up the numbers and the company value. So personally those in this share, are still in the game, however slim people perceive a rescue package to be. I hear the points about the debt but that can be serviced off these profit levels.
Things move fast in this game and the truth is no one really knows the outcome of this one, but we could be days away from knowing either way.
Cases can be made on both sides in respect of this one.
Good luck whether you invested or not.
Excellent summary. Thank you.
Revenue: 1.11 billion GBP (2021)
A rough and ready recent timeline and what we have seen:
- A month or two ago, the SP was at 7p when the other party pulled out of Takeover Talks. What would the takeover price have been 10p/20p/30p? Who knows. There would have been a good chance the company could then be turned around as a lot of errors have been made in the way things have been run to this point. So medium term value would have moved the SP potentially quite a bit higher.
- When the takeover bid fell apart, there was a sensationalist news reports (won't mention who did it) even though we know who it was. The SP then tumbled from 7p to around 3.5p and then navigated to around 1.4p a few days later. It made it back up to 5.5p and then regressed based on numerous unhelpful RNS's, where they put out more info than would typically be done in this situation
- While all the above was going on. Morrisons and the banks tried to cut a deal to take a hit on the debt of this company but that would have scr**ed the shareholders out of there shares. Hence that wording or little or no value to the ordinary share. The banks did not like that proposal, plus they would have needed to put any debt write off to their shareholders. So that seems to have been parked. Hence why this SP has not tanked beyond 1p to this point and when it has, it has rebounded quickly.
- The banks are now putting the feelers out there for other takeover/buyers. Even the previous bidders will be sniffing around as they can now table a lower offer bid off these SP levels. An onlooker might even think that when those takeover bids fell down, they may have still been interested at a lower level which may not have been acceptable. The subsequent events mean they may well be able to get that lower level bid through now.
- Currently you have Morrisons with a vested interest, the banks, and other bidders who are quite clear this company is now too cheap. It is a £1bn turnover company. With a value of around £3-4M. Debt of £200-300M. Profits of £20M. The company is still fully trading.
It is a gamble and could go either way. It is not a done deal yet in terms of the boom or bust.
There is a lot of media speculation here. Granted the company have not helped with the negative spin on things. We could be hours or days away going by the media. Either it has gone pear shaped for the shareholders OR there is another twist in the tale.
A takeover bid is still in play. Had Morrisons and debt reduction been most popular option, it would take have taken weeks, hence the June suspension to conclude it. This now feels like we are days away, so there has been another development here.
Good luck whether you are in or out.
Leave it to the young uns Woodstock. You don't need this sort of stress at your age. Stick to Premium Bonds
Has anyone got the platter for his b*lls?
Sorry Neil it was a bad joke but I could not resist :)
You lot are crazy getting involved with this stock.
Good luck guys. Braver than me.
Utter Pi5h you talk RAMP - RAMP - RAMP- RAMP- RAMP- RAMP- RAMP
This will bounce around between 1.5 and 2p until definitive news.
Probably about right - we have a rumour Morrisons would take the whole company. At the moment that's only a rumour . It's got debts of £170m.
That gives us a true insight into the value of the business. Others could see similer value or more
Beauty here is 5p a share only adds £14m less than 10% to the price Morrisons pay.
Reverse logic but in any scenario but admin Share holders have a few aces. Interesting as Morrisons can't risk admin.
Not sure I would buy as a newcomer but as a holder all is definitely not lost and looking up if rumour confirmed.
neilllmcmc11 - only 4 hours to go!
If this finishes above 1p today..never mind 2p
I'll apologise to everyone one on here who supported this share... I'll never post on here again and I'll get everyone a pint too!!
neilllmcmc11
ARE YOU STILL HERE - FOR THE SAKE OF EVERYONE DO ONE - THERES A GOOD LITTLE BOY !!
2 x 1M+ more buys gone through...,
so far if i am correct that 8 BUYs at or above 1M ...
Any deal with Morrisons requires approval.
Unless there is some undeclared Morrisons proxy we won't vote for a nil share deal. One or two p maybe that's £5m and buttons.
Morrisons will pay this rather than risking the conversions being auctioned and the 50% of trade from Morrisons wholesale that goes through Mccols.
How much shareholders get is debatable but they won't let it go to admin.
Casper786
Bet the deal is already done.
'Morrisons' ALL the way IMO.
GLA
how ... when mcsl board mentioned admin for 1st time late yesterday....MORRISIONS have shown their hand only few hrs later ( still to be confirmed via rns )....once its in open/confirmed....ISSA BROTHERS will have no choice but to COUNTER BID imo
Not a tree shake, just profit takers. Come on you know this from BRH... Cat mouse, cat mouse.
Anyway this will rise. Hold on to your golden tickets casper... Again.
Treeshake is over...
fingers crossed this time we ROCKET past 2p