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Yes I agree, this may open a massive 50-100%+ up tomorrow, but take your profits, because it will come down, the big guys in the city are traders, they will take profits and bring it down, Take your profits.
6p in previous should read 8p
Rosh I think your wrong, I expect SP to sling shoot tomorrow.. and any one that has bought in under 6p should hold untill they get 100% profit over the coming weeks.. IMHO..
We will most likely see a strong relief rally on the open, which may or likely to fizzle away, I strongly advice, take your profits, and invest else where. I sold my SCHE shares this morning at 10.6p this morning, after buying them at around 6p, and invested in HER.
As an ex-employee of Southern Cross I welcome tonight's news. I left the company last year with a heavy heart as I loved my job but I found the budget and staff restrictions compounded with my measly salary the final straw. I admit didn't realise the extent Southern Cross were in debt until after I resigned and it explains the problems us staff had to contend with. I just thought the company were trying to make as much profit as possible. Perhaps now I understand the problems the management had to contend with, and perhaps it could be argued these problems were created by Blackstone who stripped their assets. This may even be good for Southern Cross becoming a smaller manageable profitable company that will hopefully offer quality care and balancing the books, rather than a continuing as a massive company incurring debts.
Be a bit more depth on Newsnight 10:30 BBC 2.
Not present.............20m better off already.
Can t find the latest articles can you please post the link. Cheers!
Southern Cross reaches agreement with all lenders and landlords that all 31000 residents will stay.
Reported on BBC, on meeting out come - details to follow
Anyway I am in HER now. I little shocked this one did not much higher after todays news.
That report is just general news, we are still waiting for the meeting results.
http://www.ft.com/cms/s/0/be68d2e0-9760-11e0-9c9d-00144feab49a,s01=1.html#axzz1PMnbhzGy
What's your view of what tomorrow will bring?
I am the same! I won't sleep much. Tomorrow might be my last day on earth LOL!
lol?
Holdings news. They have picked cheap shares. Orders filled now. This is a lot clearer now why the price was held to single digit today. Not sleeping tonight.
Henderson Global were buying, Legal & General selling. Henderson is the bigger player here.
However, speaking to HealthInvestor, Buchan said there had been no agreement between Southern Cross and the committee, only that the company “has got a lot of meetings” with landlords and various parties. The firm told landlords last month it would have to defer 30% of its rental payments for four months this summer to avoid financial collapse. “There has been a lot of hype about one meeting here and there,” said Buchan. “The reality is that we’ve got a lot of ongoing meetings.” Buchan described the announcement by the landlords’ committee as “constructive” but added that discussions between all parties are ongoing. “When something emerges that all parties have agreed it will be announced,” he said.
Another insider, who acts as an advisor to Southern Cross landlords, said he expected its management team to be booted out imminently. He said: "Creditors are agreeing how to break up the business. Everyone is going to take everything back from the company." He described chief executive Jamie Buchan as "toast."
Hope you do well, it no middle ground now, a massive loss or a big pay out, i was out this morning at 10.6p, The expectation is SCHE are secure and the worst is over, thats why the shares have not sold of ahead of the meeting, lets see what happens from here, if this goes up in morning, I would advice, take your profits.
Posted at 4:25pm. Could of got out but didn't. Hope I don't decide to jump in London Bridge tomorrow! LOL!