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Mr nex walks into a bank, asks for a loan to refinance his assets, but the return those assets produce is less than current interest rates. Computer says no.
Mr Nex then does a £400m rights issue against a £666m market cap. Shareholders massively diluted. Mr Asos says, “yep, that happened to me too”, mr Tui says “yep, just how it goes these days”. Mr Marstons says “tell me about it, we’re having to selling the pubs off to clear debt”
Not saying this will happen but it’s a possibility that must be considered through those rose tinted spectacles.
Don’t take it to heart people, it’s all tongue in cheek 😝 comments made on here have no effect on the SP, it was still going down when we’re we’re all bullish and blinded by the SP chart.
I could hardly believe it was the same bloke... ..defies belief
You won't serve a better ace than that comments chronology PC. Best post i've seen in ages!
He is like Phillip Schofield right now...fighting for his credibility , which has fallen fast !
Will he return to Centre Court or retired hurt???
Quickdip to serve .... your call... we await your speech on how you turned from being a gamekeeper to a poacher ...
it is bad enough having to read about Putin and the Central banks without your headless chicken antics, thanks very much
Class Poker. 24 carat bellcheese!
@Poker: just excellent.. so hilarious to read that in chronological order, just tells you all you need to know.. some ppl have simply no idea what they are saying or doing
Quickdip
You have credibility of ZERO
Quickdip
March 31st : I picked some more up last week bringing it down to 122.8, not selling until 250 (June 2022 levels).
March 31st : " I think we’ll see £2 a lot quicker than 18 months."
April 01st : " it seems a good opportunity to get in if a share has been heavily shorted, before those shares have to be repurchased bumping the SP back up."
April 03rd : " It will recover to at least £2.50 in the next 12 months IMO."
April 03rd : " Solid bagger this is."
April 17th : " Catching a falling knife doesn’t really worry me if I’ve bought substantially below the NAV and the company is solid"
April 17th : "In my experience, the only way to make good money in he stock market is buy buying well established companies massively discounted. The cream always rises to the top eventually- and that’s when you get out."
April18th : " What comes down, can go up just as fast."
April 18th : "There’s no need for NEX to pay down the debt"
April 19th : " I just don’t get it? Why is the debt seen to be an issue here?"
April 22nd :" As for our debt, even if the finance costs tripled (they won’t), and we had no growth to profit (again, won’t happen, see the TU’s) we would still make a profit of c.£40m."
May 22nd : "Got 90% out at 118.4"
and now having turned 180 degrees....he is running around screaming in his undies...that the house is on fire
who the f*ck is this guy ??
you can tell he wants a low to buy back and and make up his 10% loss ....
@Paddy, good analogy.. common theme coming out of the jokers' posting history, they love posting and perhaps investing on asos, boohoo boards and the likes.. perhaps got their hands burned and now jumping up and down and overblowing small concerns.. these ppl haven't got an iota of understanding about investing and displaying their freak show on public boards!
somebody ask them how much was the dividend paid and they would have no clue that it was negligible in terms of numbers we are talking about and yet these 'saviours' want the company to cancel dividends.. pure stupidity at display..
somebody should also ask them why the likes of JP Morgan and Blackrock, with huge investments in the company are still around and voted with their approvals for dividend etc in the AGM if there were concerns about debt payments.. no they would like us to believe they have got superior understanding of the business than anyone else here
Poker, i think this is Johnny 2 Toes from PFC reincarnated!
If I were as sure as QD & Terry seem to be that this share will tank - then I’d be shorting it.
And then I’d probably be on a board like this distorting it.
If I was neither buying or shorting then I’d not be here. So I have to question why they are still here…
" What makes you think NEX will be able to secure billions of debt refinancing when other companies can’t? "
NEX next Bond isn't due until 2027 and the placing fund due 2027-30
This Bond refinancing has been more expensive, but it is manageable ...revenue growth and cost savings will assist with that ..they planned well ahead for it
They have £233.1m net cash and an committed £527m Unused RCF
They don't have "billions" to re-finance...what they have is staggered and into the future ...why the exaggeration ??
Inflation will drop later in the year as the time lag on interest rate rises takes affect...plenty of indications it is happening in certain areas of the economy .....in fact with China slumping and with 11m graduates without a job ...I wouldn't be surprised if we don't have deflation by next year, at this rate
There is plenty of time between now and any re-financing potential disaster as you put it ...plenty of time for any pumps and dumps...rises and falls...between now and then ...
If Mr ASOS buys a £5m house & Mr NEX buys the house next door also for £5m with the same mortgage. Mr NEX happily pays his mortgage each month with no problems & as the years pass due to his increased income he can afford to add extensions & things to the house to increase it's value. The bank is happy & wants to lend Mr NEX more money than he wants to buy a nice car as well because they view him as a safe investment grade who will not default. Mr ASOS on the contrary managed to get his mortgage by lying to the bank about how his business was doing. As the business model is failing he can't pay the mortgage so has to go to expensive finance companies to pay the monthly costs. Eventually he can't keep up with the repayments on the high interest costs so the original lender repossesses the house & Mr ASOS is homeless! Mr NEX by this time has decided to upgrade to a £ 20m country pile & buy a few new cars & give lots of money to the investors who supported his company. The end!
Schmoky,
It’s manageable because it’s still fixed on low rates.
This isn’t just a question of being able to afford higher rates. What makes you think nex will be able to secure billions of debt refinancing when other companies can’t?
Directors know it, fund managers know it, in fact the only professionals who aren’t steering clear are shorters.
I have 60k shares. Let's see what happens..
Filtered. clueless!
But it's manageable
Wow calm down Paddy. I sold out my small holding of Asos, realised I caught a falling knife and lost about 7%- so what, move on. But actually, it was a real eye opener with what happens when debt needs to be refinanced, which is why I sold up here, and I already saved a hell of a lot more than 7%.
Since you’re so obsessed with Asos on a nex board, let me remind you it declined so fast because it couldn’t even borrow £75m, so had to do a rights issue. When the debt starts needing to be refinanced here, particularly with such low interest cover, it’ll be an absolute blood bath. Same happened at TUI. The smart money knows it, but the PI’s are oblivious until the sh*t hits the fan.
When you bought ASOS you really knew what you were getting into!! £7 what a bargain! Terry MC who chooses to debut post on almost every share where the price has dropped a bit with his eternal wisdom! Where was he when this share was £3? because the debt was much the same then. Another clown joins the circus. Why are you all hear one may ask. Well probably to try & scare a few inexperienced novices to sell shares for peanuts. There are many old hands on this share who've seen all this BS before. If it's so bad just go & invest more in the crock of nonsense ASOS. That is a company which is worth nothing. Try their website. Rubbish. Nothing in stock. Total garbage!
Terry 🤫 nobody wants to know what they’re getting themselves into.
If nobody mentions it, all will be fine 🤫
Don’t get me wrong I’m no expert
but large orders are usually done at market price so they take whatever price they can get
Large limit orders are where you run the risk of not getting filled. because they hardly ever get filled
Also it depends how liquid the stock is some stocks you can make large trades all day long and get filled with ease rolls Royce for example is very liquid
But try make a large trade on Bettys kitchen what nobody’s heard of or invests in and has a 50% spread you got no chance
And it’s not about the 1m
by your logic you can’t place big trade’s because they’re to disruptive
That’s not correct I’ve seen people make big trades with my own eyes
Look what is going on over at Vodafone. A 26 YEAR low!
The market is rogue as **** and the FCA market abuse team is a complete joke. The UK market is UNregulated and completely manipulated by immoral morally bankrupt short selling s**m. Massive underperformance on the FTSE today, pathetic 'rebound'. Huge suppression applied by...yes you guessed it.
100K@108p £108k Off-Book ECHO SINT
100K@108p £108k Off-Book ECHO SINT
200K@108p £216k Off-Book ECHO SINT
2M@108.35p £2.167m Off-Book ECHO SINT
300k@108.35p £325k Off-Book ECHO SINT
2m@108.35p £2.2m Off-Book ECHO SINT
3.6m@108.35p £4m Off-Book ECHO SINT
All Off-Book trades from abroad (non London)...possibly the Investment bankers in Germany,France, Switzerland etc buying up stock to then sell on at a profit on any rebound ?
..I have suspected it was the Investment bankers that were deeply involved in selling it down in the first place
or maybe there will be a TR-1 in the next few days as well