Member Info for Analysister

Shareholders borrow using their NMC shares as security, share price collapses. Shareholders are forced to sell their NMC share by their lenders to repay their debt. Unusual that they have repaid ALL their bank debt however. Can’t work that out.
Doesn’t mean the company isn’t rock solid, just means the share price isn’t rock solid. Go figure.

Comprehensive, high quality presentation.
However the group only generated £10m in free cash flow (after capex and finance charges) over the first 6 month period. “NHS remains challenging” they say and cost pressure on wages remain an issue plus leased hospital rental costs will keep on increasing as per the leases. Add to that increasing regulatory requirements and it’s an avoid from me. I was hoping for a bid from NMC or Mediclinic or a US outfit, but with so little free cash flow generated it’s difficult to see how any bid circa £1billion EV is funded from this capital intensive business. (Plus the long term hospital leases will probably have change of control clauses included in them which add to the complexity of any bid).

Agreed, Director buying is definitely a green flag. The co must be near to its “close period” dealing cut off date so well done to the top two directors. The director share buying would tend to suggest we can look forward to a decent update on 16 Sept. but also means no current discussions with Mediclinic.

Only 14 months ago the CEO gave a Strategy Presentation with £200million ebitda as their target in a couple of years. Looks like they will do well to hold on to £100million of ebitda at the rate they are going!!! That’s one hell of a misjudgement.

Agreed, but people have got to want to join this Board.

Got to feel for Spire. Lots of headwinds facing the pvt hospital business. Looks like the PM is going to pump capex into the NHS buildings rather than trumpet the private sector as a solution. Surgeon pensions also will be impacting the number of procedures carried out and hopefully the PM will sort that pension anomaly ASAP. Falling PMI trend set to continue imo. Cost pressures for all staff employed across the country. Ray of light in the private pay market, but that requires big capex spend to keep hospitals competitive and technically advanced. Not much can be done with that debt burden plus hospital and equipment lease liabilities growing. GLAH. I’m hurting too.

Both Chair and SID now departing, neither of them had any prior healthcare experience anyway. Two big City names probably employed just to get the IPO away. No CEO until 30 Sept. the directors are unlikely to have walked if a bid was imminent. Not much to get excited about here.

Is his Final Salary Pension from BA not enough for him? Both share prices have fallen today Aviva and Royal Mail. If he’s got a couple of spare minutes he could sort the Brexit fiasco out as well....what a joke we are these days. How can this individual possibly hope to contribute effectively to all these orginisations?

Well they announced they drilled south of a fault. Then they discovered there was no fault when they sidetracked! The operator and the partners clearly don’t understand the reservoir model or the local geology in the area. So I suppose that could be bad news or great news!!! We probably won’t be around long enough to find out :(
Having got it so wrong how can they all say 15million barrels with such certainty ??

In today’s Sunday Telegraph. Recommendation - SELL. Comment “Margins are falling and too many of its products make no money”. Jeez.

Let’s hope for a similar outcome here!!

What is the guy saying? The black crude oil has leaked from the Colter well bore and floated across the English Channel on to the beach at Bournemouth?

Free cash flow after capital expenditure is all investors should look at here. It’s not a lot and the dividend level tells the tale. Thank goodness they don’t have any corporate taxes to pay!! Only Ocado is rated higher and Ocado doesn’t generate any free cash flow and probably never will. Both companies are great stories though.

Nothing flagged pre-close and their new CEO will certainly know his way around the numbers and risks in the business. I’d expect a solid set of figures. Hope for a divi increase...

It always seems to be a huge spread. I assume (don’t know) the market makers don’t want to be left holding any BOIL stock. Plus BOIL seem to have a large number of Price Monitoring Extensions for some reason. Perhaps these two reason are linked? Who knows. Not long now to have a well result from the sidetrack. GLAH.

Av share price will be down tomorrow if the US markets finish in negative territory today. Solid but uninspiring appointment, a bit like the company. I’m hoping the stand in CEO will be on the next stagecoach to his country estate.

Agreed. Drifting aimlessly is what they seemingly do best at Aviva. However at least Maurice will remember the NU share price when it was in double figures £s! I wonder why it took them over 25 years of him working at Aviva and predecessor companies to appoint Maurice to the Main Board? This Board of Directors takes the biscuit and probably the coffee as well. Poor stuff.

Have to say I’m disappointed that shareholders wait for 5 months to have a Norwich Union “lifer” appointed as the CEO and he has to spend two years relocating from Canada. Presumably no external candidate was interested. I’m sure Maurice is a nice bloke and tbh I don’t know many people who would wor, away i t he same company for 26 years.

That’s why I’d be speaking to Perenco! They are the obvious buyer of Colter as they control Wytch Farm oil field and the export pipeline to Fawley Refinery. Sell our 8% interest to Perenco and use our tax losses. Job done for Malcolm!

I was just trying to explain why I didn’t think there had been any upward share price movement yet amongst the Colter partners. After this sidetrack is complete, they will have four well penetrations into the field plus the 3D seismic data plus they are only two kilometres south of the 450m barrel Wytch Farm oilfield. Surely they will have enough info to understand what oil reserves they have here and a meeting with Perenco booked in the diary!!!