Member Info for adzy2k11

brutal. and to think the founder and major shareholders managed to (partially) get out with a 'margin call' is sickening

I know, that’s why I said don’t reach too much into it, but was answering your question in that they’re not suspended.

He just confirmed he was the treasury guy suspended then quickly blocked me when I asked more.

And no ADR is still trading, it’s at $7.48 = 580p

the guy who's been suspended from treasury... I was chatting to him on whatsapp but he's now blocked me... anybody else want to try? lol

I agree with some of your views that anything is possible and more than willing to keep an open mind about it. But will base my views on new relevant information as it comes.

Nope, bailed at 5700. Trying long on Nasdaq instead at these levels.

I see FIN +7%... let’s see what the ADR does today. Again, I wouldn’t read too much into them, but together they might not be that bad barometers of sentiment

I do think suspension was the right choice, but I’d rather still have liquidity as could have recycled that cash into some bargains! Luckily my position size was small so I’ll
Move on.

For Tesco I just read: “they established a compensation scheme aimed at some of the buyers of Tesco’s shares and bonds for cash during that period. Both Tesco and the FCA said that the cost of that compensation is likely to be around £85m, excluding interest.“

Did anybody ever get any money back from that??

Tesco was not suspended was it?

I’d love to know I’d there’s been another company that’s had accounting irregularities, needed to restate their accounts, and has come out relatively unscathed? I’ve been trying to research this the last two days but can find no food precedent... anyone?

There’s no need to panic, but there’s also no need to ramp and have unrealistic expectations.

Expect the worst and hope for the best!

It doesn’t need to “go bust” for you not to get back any equity value. A rescue will involve buying the bonds at 50c on the dollar! Why would anyone in their right mind pay anything for the equity now when you can just buy the debt and take it over?!

1) it’s LOSE not loose
2) even if operations is fine doesn’t mean there’s any EQUITY value. Given the owners have likely drowned the company in debt and drained all its cash the remaining worth of the company (whatever’s left) will just go to the bond holders... shareholders are bottom in the capital structure.

All done via a broker over the counter. Not sure if we can relate it too much to underlying nmc price

It’s a call option.

Looks like JPM are still managing to do deals, presumably OTC - they sold 18K shares at 700p yesterday...

https://twitter.com/*************/status/1233321994029944833?s=20

well the EY partner was on the board of NMC..

also not fair to generalise "Asians" or people from the "sub-continent" .... Microsoft, arguably one of the most successful turnaround stories is run by an Indian, as are many other leading US companies.

https://www.espn.com/college-football/story/_/id/9042806/penn-state-document-reveals-louis-freeh-investigation-costs-brings-scandal-total-41-million

probably more for a foreign entity.

you're right, it's not game over for the organisation, it will probably survive, but for shareholders (who are last in the pecking order) I'm not sure there will be much equity value left.