Member Info for 50glass

Yes, it is startling. However the metrics (above $55 ber barrel) indicate very sizeable reduction in net debt by 2022, when the CEO, who has a large shareholding, will be approached his 60th birthday (he was born August 1963). So whilst a sale of ENQ is not off the table, I feel he would settle for dividends to top up the family coffers. By then he may want to take life a bit easier, so releasing value, rather than growing the business, might become more important to him.

I've been on the ENQ journey for a few years and whilst currently showing a loss will be taking-up the rights issue. My latest modelling, based on various oil price scenarios, still has, on balance, a 2021 sp north of 100p and the commencement of dividends in 2022.

Barclays will put out a note to you in a few days which will give you the option to either sell or take-up your rights.

Positive article by ST in the IC today. He has (also) set a 225p target, albeit slightly less than his previous 250p figure.

Yes, the land. Clearly need to be patient here to allow management to move us on from the legacy issues. Overall the future looks pretty promising. SP north of 225p is my starting target.

Could well be worth Sterling10m+

Negative article in today's FT, which is worth a read.

The sp jumps about. Looking forward to the 18 Sept results announcement.

Difficult to argue that this is not undervalued at current sp. 4%+ prospective dividend yield plus possibility of further special dividends. Pension scheme deficit declining. BoD optimistic: "... leaves us well positioned to achieve our 2020 strategic profit target of £26m".

I did. Well pleased, with plenty more upside.

Sterling is on downward trend. Emerging markets, reflecting Turkey's lira decline, are nervous. Trade wars are looming as Trump stokes the fires of inflation. Brexit is massive overhang for UK as investment decisions are either postponed or moved to other countries. Not an easy time to be an investor. A great time to be a knowledgeable and far-sighted investor.

THEPUMA, thanks for the summary. Today's sp decline seems perverse, so I'll use it as opportunity to top-up here.

It was at 288p just before the proposed acquisition was announced. It then fell, allowing me to buy in at a deep discount to that recent price.

It was at 288p just before the proposed acquisition was announced. It then fell, allowing me to buy in at a deep discount to that recent price.

With an expectation that the 18% margin on the mature portfolio will, eventually, feed through to the newer locations, a healthy and rising dividend, a share buy-back programme, a growing estate and relative low debts (including leased premises and pension obligations), an sp of at least 400p looks realistic. If the growth of the estate continues at the 2018 rate for, say, three years, then 500p looks within reach.

Absolutely the right decision not to sell out for a low-ball price, as even a cursory glance at the interim results shows.

Let's hope we get to a decision regarding the takeover on Tuesday. Which ever way it goes, plus interim results, will make for an interesting day.

The good ship SEE is sailing to a wonderful destination. A pattch of rough water, from time to time, should not alarm the passengers. Personally, I'm in for the entire voyage so will, as always, find a comfortable seat, a nice drink, and watch some investors go about checking the liferafts or even, rather alarmingly, throwing themselves overboard.

...to all those investors who rushed for the door when the rights issue was announced and let me buy in at a deep discount.

Looks like a value investor is positive about MCRO. To quote their website: "....a long-term investment horizon, individual security selection grounded by the relationship of fundamentals to valuation, and portfolio diversification."