The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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The big day has arrived...
Fingers crossed for all investors.
Let's see. Things changd for the better but, assuming we make it past 22nd, it'll still be a long way.
We've got one insider buy stock, which is good, an outside institution buying stock as well would be even better but that is unlikely until there is path to profitability. There, I said the p-word.
On the bright side, any real outlook towards that would do wonders to the share price as it stands today. 😅
I also think it will be a positive outcome. Watched the webinar for debentureholders the other day and all sounded positive. Debentureholders received steady 10% on these bonds for years and even if maturity and rolling-over would have been nice, having watched other debentures on the Abundance platform collapse, I don't think SAE performance is looked upon too badly. Also the Abundance investor base is committed to climate change action and value chance to play a role in establishing the tidal energy sector. We will see.
Recent central bank statements about decrease of interest rates in 2024 will also be helpful. The share price went from 2p to 1p on not much more than interest rate hikes.
If you look at the balance sheet figures, we would have been bankrupt for a few years. I look forward to it positively. Running costs have been reduced and sales are increasing.
Whilst I think the holders are caught between a rock and a hard place, in the end, I think it's likely they'll approve the extension. At least this way, they stand to make money (in the end) as opposed to potentially, losing 100% of their investment. In any case, I shouldn't think SAE will be seen by the holders in a good light. More, a poorly lit one. The consequences for the holders could be catastrophic for a negative outcome, much the same for us investors I would've thought. A positive outcome will allow continuity and a chance to perhaps draw down debt. Let's hope we live to fight another year.
Not long now. Would imagine most would have completed so we should hear on 27th or 28th.
Let's see.
Just be patient, we will find out soon ✌️
Part of me really hoped Friday could cause the share price to surge but now I feel like it's either bust or business as usual. I don't mean go all the way up to 10GBX and beyond but, idk, maybe at least 20 or £30m market cap would be nice to at least get the feeling the company does have some value on the market.
Who's going to be in ANY office at 5pm on Friday?
They may have a result before 5pm in which case they could announce that a 75%+ majority of the debenture holders had voted in favour, but I would suspect that they will hold over until the LSE opens after Christmas
Voting has been open since the announcement and deadline for voting is 22nd December at 5pm. I don't know if the result will be shared same day.
BO in play here
https://invst.ly/12qghu
Now after years of hard work SAE gets the chance to truly expand MeyGen. Given that the company isn't worth that much at the moment, what would they get from SAE going bankrupt? Letting the company down now would be a weird move but then again.. the norm over the past years was bad surprises. Let's hope this changes from now on.
Not sure the actual time of the meeting is in the public domain but I suspect it will be am. As a reminder, the requested amendments require the agreement of 75% of the debenture holders by value. SAE remain optimistic for a positive outcome.
Ah, sure. For a second I thought there's anothrr meeting I didn't know of yet.
Debenture holders
What meeting?
Well it's been very bumpy and could have all been over now considering the situations that have played out over last 4 years.
I think the BOD have done the correct thing to add some certainty and put a line in the sand to reduce the debt burden over the next 6 years.
If it goes the right way then I think we can expect an upward trend.
What time is the meeting next week?
Always a bit anxious when a meeting is called for the last day before a holiday break. As was advised after 9/11 that it was a good time to publish bad news Here’s hoping that that isn’t the case here but the fact is that there will be no analysis or comment probably until the new year
GLA and happy Christmas
10 done. Next stop 15....👍🤣
Let's first try to crack the £10m mark though 😅
🤣🤣🤣🤣
£100m market cap here we come! 😅
If 22nd goes well I am hoping to be above that...
Encouraging move upwards today. Year’s high was 1.60 on 20 December so let’s see if we can repeat this