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dj_shares
A very interesting first post !
Do you work for the dark side ?
.. highly misleading to the general public and to investors
whats not mentioned anywhere is how sky news came about reporting news of a deal by Morrisons that would save the company from collapse. that was incorrect news and only hours later the company was suspended.
As ever in these situations, it's nothing for shareholders - see here:
https://www.pwc.co.uk/services/business-restructuring/administrations/mccolls/shareholders.html
The whole sorry saga is documented here:
https://www.pwc.co.uk/services/business-restructuring/administrations/mccolls/documents-to-download.html
Don't forget there'll be handsome fees to be taken by the administrators.
Many questions need to be asked by shareholders, especially around the last fundraising (as the above document suggests it was known the business was in trouble just a few weeks afterwards), the various roles played by pwc and why an offer could not be secured to avoid admin.
This is interesting indeed. My average is at about 1p, so a 6p payout based on the £17m that remains surplus sounds incredible and better than what I expected.
I think that at least, Morrisons should distribute that £17m to shareholders, particularly for those of you that paid for the conversions to Morrisons Daily via way of the rights issue. You all deserve to leave with at least something.
Wishing us all the best, hopefully CD&R can find it in their hearts to distribute the excess.
This BB is full of false hope.
Totally written this off!!
Now a glimmer of hope we might get something.
it's like McColl's knew the bones of the deal all along.
the RNS stating it was unlikely that any value would be attributed to shares has to be given a context. as has been previously mentioned, what was the comparison judged against? the value of the shares at the time of the RNS? or perhaps the historical value of the shares over the past few years?
yes, judged against the historical share price ie £3, £2, £1, 50p, etc, the deal may yield little value. the RNS also stated that no value may be attributed to the shares - they did not know - because presumably the deal had not been done, though it seems they had a good idea as to what it could be.
we now learn that there *may* be some money left over and there is might be a possibility of a return to shareholders though it looks like some number crunching needs to be done and priority credits need to be dished out.
looks to me like Morrisons have factored in something a little bit extra to the norm but we will have to see if or how that pans out.
https://www.ft.com/content/384c2f2e-8951-4ddf-adef-c361ef05ed99
Still time to buy guys!
1887
Then I'd imagine ALL those who cashed out or were certain it wouldn't happen would congratulate those who got paid out?
Yeah course they would !!
i saw it written somewhere, either on share chat or twitter
what if it did happen?
dream on kids - not gonna happen.
sounds good. for those that averaged down im sure any payout would be welcome.
1887 - that would be most acceptable :-)
On that basis I would continue to shop at 'Morrisons' and 'McColls' and so would all my family.
Otherwise 'Asda' here we come ..
that would tally roughly in line with the rumour before the plug was pulled that it was 8p / share
drizzy90
17 million / 280 million shares = 6p - I'd accept that !
Who gets the extra 17 million after all debts paid ?
10p seems too low. £1 would be nice but I think unrealistic in the circumstances. probably have to negotiate a deal with either PwC or Morrisons
you are deluded if you're genuinely expecting that will happen
25p to be split equally amongst all shareholders is nearer the mark
1887 - why stop at 75p ?
I'd be quite content with £1 per share - yeah right !
Think we'll be lucky to see 5p per share but you never know !
Flip side it's nothing ..
I'm expecting Morrisons to cough up for the value of the shares. we ought to put a claim in. what price do you think is a fair valuation going forward? 25p 50p 75p?
All down to pretend it's above board, we have seen it all before, FLBY, STOB, CSLT, HMV, JESS, WYG private shareholders all conned out of their cash.
I've only skimmed through the document quickly so not had time to digest it all. anyone wishing to view the details have a look on the PwC website, it's in the downloads section of the McColl's administration section.