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Your not wrong there , liars, liars ,liars
Even the employees want a new BOD. How they are managing to stay is beyond me.
Would take too long to replace them now. They will be gone one way or another soon. That FDs pay package was discussed on here before - I think they are paying him 8k per month living allowance.
Doesnt anyone know what the rules on Plcs issuing delayed results are? I find it strange that they have been allowed not to publish
Mr Magoo
Delayed Q3 will trigger trade suspension as sharholders need to know.
I am unsure of the time delay allowed.
Its been a week since the board you were warned off this pos. Surely there can't still be mugs holding or buying still?
Couple of questions raised:
Listing rules in relation to accounts - legally only need to file annual accounts. The bonds require semi-annual but have 180 day period after end of period. So legally next set of results for end of September not due until mid march next year
In relation to statements saying bids. It didn't say firm bids and they said Oncall they were indicotive. Since may statement there was a Lufthansa profit warning which would be material.
In relation to saying bids have gone away, probably not even true at the moment. So can't say that.
However, the company would have had to use the proceeds to pay down debt, condition of the bonds, so if they paid down down debt but was still too much that the remaining business was insolvent they couldn't do it.
Stating the bids were too low would have caused market panic and caused bookings to drop. So company right not to say this. They had to get outline of agreement in place for survival of company.
If not they are trading insolvently.
People need to take some responsibility for their decisions instead of looking for someone to blame.
Reading any press on European air travel industry pointed to difficulty in the market. Norwegian, Lufthansa Flybe. Why then did anyone think TCG were going to be able to sell it at a good price.
Is there no legal obligation to release the quaterly results within 3months???
Quite right jj.. I don't know who I find more annoying, the whingebags or the "I told you so and you laughed at me" brigade.
Alexios, No. In fact TCG don't report quarterly. They give a quarterly update, but no accounts at all.
Manchego, At no point have I "laughed at others". I am sitting on big losses in Tullow and Kier, so I know I need to learn more. If people shared some analysis it might make some other private investors to write a one page document on their investments. I do it now - it is a good discipline. Doesn't make me not make mistakes, but helps me figure out where I went wrong.
manchego... we are not here to say “I told you so”. We have been trying to convince obtuse and stubborn individuals like you that you live on cloud cokoooo land and the sooner you wake up to reality and sell your shares, the better. Try and get whatever you can and get out, before the ship finally sinks for good
I wrote: " I don't know who I find more annoying, the whingebags or the "I told you so and you laughed at me" brigade". More annoying than both those categories are the trolls.
No need to argue on this but I don't feel like its I told you so vs the others. As soon as we heard that the cash had deteriorated significantly in q2 and the auditors gave the warning it was a huge red flag. Ever since that point it was really a gamble with people holding on second guessing on what the press or board released. The fundamentals were still shocking though so it's pretty frustrating to be pointing that out to then be accused of scaremongering by people who are seemingly gambling with their hard earned cash.
Mr Magoo. "I got accused of scaremongering, look back at my past postings. Look back at my postings - called this in Nov/Dec and again in May. Got a load of abuse so left."
As some 1 who is 71% down on 18+k don't really care what people say here. All I want is BOD to decide on what action they would like to take. If it mean recapitalisation to save the company, so be it. Just get on with it for FS.
Amers,
I understand your frustration from another investment of mine, as I wait for kier management to release numbers.
But..... Let's step into management shoes at TCG.
Positive view - close to agreement with creditors and they have outline of a deal. Not finalized though so still in negotiations.
Negative - only starting negotiations and no agreement in place between new money and debt write off. This will lead to more press speculation that they won't be able to make agreement and company will fail, causing more panic with end customers causing more value destruction.
So, no announcement means no deal agreed.
As a debt holder, no one would want this messy admin. No debt holder will recover without further investment.
Shareholders could vote this deal off.
prepack admin deal can be done over a weekend - no longer as messy as it used to be. Shareholders block isn't an issue.
Amers, these are uncharted waters. I, like you and a lot of others are sitting on 90% losses at the moment. We could sell now and walk away with 10% as some posters are suggesting. But I think Fosun has a need for the brand and will make it successful. I don’t think it will be prepacked. I am staying in and if we come out with something, I believe it will grow, although it will take a long time. I received a PM last night from one shareholder that’s sitting on 200000 shares and down 75k and their staying in??
Manchego - and your point is? If you look at my nov posts the price was 95% higher than it is now. I will just leave again as really there is nothing left to talk about here. If you are holding shares, sell then whilst you can and go to the bookies with what you have left. Your odds of a profit are higher and its quicker than this slow painful death.
Thanks Saj I think we have no choice, as I rather make/recover or lose the lot. Mrs won't b happy, but **** happens!!!
Also Saj as you say Fosun wants the Brand and furthermore they have 200 Millions, some would say that small fish in the big pond, but no one like to lose.
I feel sorry for the SH as the share doesn’t seem to find any support level.
MrMaggoo - you’re like a kindergarten boy keep on saying i told u so i told u so. I genuinely don’t understand shall SH give you a mdal? And before you lash out at me I’m not invested here so don’t care much but when I see the likes of u it’s irritating all of the sudden you become mr. I know everything!! Why didn’t you advise SH a year ago to dumb the share when it was trading at £1+ since you’re this knowledgeable
HK85 Mr Magoo is speaking here because others are still trying to say there is life in this share
He has been telling you for ages and ages and none listen
This share is worth 0 and the brand is heading that way
Today TC were announced as worst Tour Operator in UK - that is not good for the brand
Quisty I’m not invested I’ve even asked for your advice a few days ago if you still remember whether it was a good opportunity to go in at 5.5 or not. But instead of him keep on using the same word again he should have some sympathy for those what are stuck at such levels. I’ve been in their shoes before and I genuinely feel their pain as not long ago i lost a large sum in debenhams