The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'm doing same this am. We need solid shareholder action to get this resolved.
Oiluser, I thought their biggest previous reduction was only 6 down to 3 in the early 2018 oil move over a 6 month period? This is a whole new beast to unwind
...without trying to force an equity placing?
Get on short tracker and check it out. It was 15 or 16
Exactly Thotl, the sp is a key metric & has been totally undermined by ARCM. Company strategy will have been shaped by the poor sp performance & you raise an important point re Zama, I am sure that other opportunities will have been lost because of ARCM undisclosed actions. IMO short should be immediately closed & fca should sue for blatant disregard of the rules. Given the size of the short & ARCM loan to PMO, this is wrong on so many levels.
I stand corrected.
I think their ability to force an equity placing is in the bin. PMO cashflow inc debt pay down can generate a refinancing. Question is the rate.
Cant think any reputable banks turning down 5% now. What puzzles is why not unwind unless they have insider info on export financing conditions
Oiluser, as we know we are seeing strong debt reduction purely from the strength of the business even with weak crude prices. As always the big imponderable is SL & how that’s going to be financed.....maybe that’s the Achilles heel that ARCM expected to capitalise upon.
Doesn't' the market see SL as a negative atm? If they were to announce we put it on the back burner till financing conditions improve the SP would likely go up. Answer to this is the farm down, but if they have no takers they won't/can't do it anyway. So isn't SL neutral at worst to SP?
I think they announced the SL strategy in july. Separate entity. 400mil vendor loans. 800mil export finance and balance from balance sheet capex. The farm down will be very unattractive as pmo will want to pass on the rkh carries prorata. That deal was done when oil was +100. Personally i think that pmo should delay any decision until post refinance and cleaner BS. Or that they tell RKH that the deal is no longer viable. Not sure why we havent eaten rkh but i guess we cant. Then farmdown would be much more attractive to others