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Looking goodđź‘Ť
I wonder if the SG note mentioned here a while back of D4E of 22p has some legs to it. We seem to be hovering around there and I suspect shorts are closing.
Hopefully we don’t have to wait too much longer, it’s been dragging on long enough.
D4E of 22p would be extraordinary from here IMO. It would probably lead to a nice relief rally in the SP as well, although it would not change the opinion I currently have of the BOD's integrity, based on the last couple of updates, so would remain off my radar, as far as investment targets go.
Regardless, the BOD needs to confirm specifics before the weekend IMO. This has not been well handled at all, and is not a good example of how to treat shareholders (let alone how to run a business more generally). GLA.
I do not see shorts closing until the D4E is announced. These people have a strategy, they dont respond to short term price movements, hence they didn't close out their shorts on the recent spike. Unfortunately it seems to have worked so far.
@Bridgedogg check short tracker we know they are closing this time last week we were sitting at 11.2% notifiable we are at 10.4% as of yesterday
" we know they are closing this time last week we were sitting at 11.2% notifiable we are at 10.4% as of yesterday"
"they are closing" ...seems to be just GLG Partners ....the rest are pretty much as before .... Helikon down, MCP up
More closing yesterday/ today? Nice recovery today so far either way.
Sad to hear tge scale of some of the losses from sellers over last few days.
Hope (selfishly) they were wrong.
RealityBytes
I doubt an increase of 1.7p is going to make much difference to most holders , even though the % increase looks "good"
I know Poker and it really is gut wrenching to hear 6 figure losses from PIs.
Happy here though given I just dipped my toe back in.
RealityBytes
yes.. some high figure losses....my internal panic alarm would sound off a lot before that kind of loss appeared
the company losses over the last 4-5 years have been utterly horrendous ...
personally, I have resisted getting involved for quite a while
...a D4E seemed inevitable IMO.... but.... 2023 Accounts could be the bottom of the barrel, with the restructure providing a base from which to get some decent revenue over the next 2-3 years ..just the Thai project to finish over this year ... which has been a financial problem for all involved
Asset Solutions actually looks a reasonable business
Yeah - I remember you getting out and making some comments about negative shareholder equity around that time.
And I'm still nervous so haven't gone in hard. But as you say. This could be the turning point if they can resolve. Bond price still worries me and I could be i for a long slog if D4E isn't as favourable as I hope. Market cap should be decent with that backlog, a return to positive c
Oops...
Continued...
positive cashflow and reduced debt.
Now sitting with fingers crossed that I'm not diluted too much to still pull a profit. Happy to wait it out even if I take a bigger hit.
"Bond price still worries me"
The initial bondholders have probably sold out a long time ago.... or bought back much lower...plus shorting.... the current bondholders probably didnt pay much more than 30p-40p , knowing that they had a cushion of a forthcoming coupon against near term loss.....
They probably knew full well that the bonds would be very difficult to pay back.... 10% coupon is near junk bond levels
I suspect the dilution is pretty much baked in at this price .... although holders would need to buy into it to keep their % holding of the company
but...even if they don't...... better to have a small holding in a better financed company, than a larger holding in a very weak financial one
I would pay 20p a share just for Asset Solutions ....shame there is the E&C mess along with it !!!
Make a lot of sense there Poker, as usual
BB will be showing this as a Buy Confirmed…….its pulling away and looking like a good finish. We essentially now need to break through 26.5p and then many of the derampers will scratch on another board. Also would be good to see if a few more of the short brigade used the opportunity to close later