Member Info for 50glass

Very odd announcement today regarding delay in announcing results. Quote: ...for reasons outside of its control...

Another good step forward.

Current state of play: Lone Star Europe Acquisitions Limited: no intention to make an offer as of 4 June. Starwood Capital European Operations Limited: intention by 5.00 p.m. on 29 June 2018. TDR Capital LLP: intention by 5.00 p.m. on 29 June 2018. Prime Opportunities Investment Group: intention by 5.00 p.m. on 26 June 2018.

Let�s hope that those buying in now are not disappointed by The results tomorrow. I am mildly confident......

It�s getting crowded. We now have four potential bidders. Expect first news on deadline date for the first three bidders.

Given that the debt and bonds have a 2022 expiry date, modelling of prospective revenue suggests that a consistent price of $55 per BOE, will clear the borrowings in time. Clearly the BoD will likely run ENQ with an element of deny post 2022 so my personal projection is that dividends will commence in late 2021.

View of Peel Hunt and FT that the sale price will be in the range 320-350p per share.

Here we go again. Last time the Board rejected �2.5 billion. That suggests the three who have now made approaches are going to come in, if they get to putting terms forward, of a rather larger sum. Never a dull moment with IWG.

Bit of a no-brainer decision: The new shares will cost 11.225p each in the Open Offer, or shares are available at 5.6p in the Market.

By concentrating on today�s oil output and today�s price of oil, you are looking through the wrong end of the telescope. The key metrics for Enq - given that much of its current output is hedged so the current price of oil is fairly unimportant - is the output several years down the line and the then price of oil. As a long-term holder here I look to the future, not waste my time with less important information. Would anyone stand outside the Land Rocer factory to get excited about the movement of a single newRange Rover? No, the correct view is total output and profit margins years down the line. Mind you, it�s nice to know we have room in the investment world for �train spotters�.

It is a penny share for a simple reason; it is worth no more.

Why, o why, do we have people on here talking about individual tankers and the price of oil. Have they not done the suns to realise that we are years away from moving into meaningful levels of profitability.

Agreed. Given the natural front-end loading of expenses on new contra twins and expansion of existing contracts, the reduction in debt is a good sign of financial soundness.

Another good looking acquisition. My usual 'moan' that private investors are treated as second-class investors as they are denied the opportunity to acquire shares at a discounted price. Yet another letter to the FCA!

Excellent results; many highlights with, for me, the following one of the most important: "The 10x headroom means that the incremental cost to process transactions remains close to zero and, therefore, additional revenue is the equivalent of gross profit. "

The last annual report stated that the leverage convenant was that debt is to be less than 2.5 times the last 12 months EBITDA. My calculations suggest that this limit could be exceeded.....which would either require temporary relaxation of the terms by the lenders or a rights issue. As the 'breach', if it occurs, looks to be minimal I don't feel that there will be a rights issues. Famous last words. DYOR.

Solid outcome, with propective of further good times to come.

The current fixation with the conversion of debt to equity is a sideshow to the main event. The Board need to deliver hundreds of millions of additional turnover within the next 24 months.

If the Dail was serious about their view on climate change, they would ban the importation of fossil fuels and fossil fuel products. Simply banning local licences does nothing, in a global sense, other than adopting a NIMBY approach.

Chief Executive had to make do with only $508,000 fees in last financial year. Almost on the bread line.