Member Info for Banburyboy

Zebbo - I'm pretty sure retrospection is a fundamental principle of tax law.
She's playing politics . Back dating sounds good but will not happen.
Agree that not a great environment to operate in.

Patrick - you were ramping this at .675p on 24tj August. 2022. This is only going North :)
Sorry but you won't see .4p again let alone .675p.
This is Red Rock Resources - ten years of pain and relentless falls

Mrs Norma - make sure you have a stop loss on the drinks for Upomega in that bet !! Londonderry sounds a wide exposure with plenty of beers.. You might bat for the YES camp but I still looking out for you. Mr Banbury

Norma - Mr Rapers views were evidence based at every level.
They echoed conclusions most had made on here before him.
1 - it's expensive. A transfer of wealth from SQZ to Tailwind. The asset per share metrics that were used ignoring debt and cash were school boy stuff . Most on this Board pointed it out.
2 - MF admitted Mecuria wanted control.and he could not agree a deal without it but still went ahead His comparison of a 20% dormant holder with an activist like Mecuria who seeks control is pitiful. The tale of the shark and tadpole. Jeremy gave some great examples of what damage 25% control does.
3 - There is a degree of upside on diversification but it's not cheap and Tailwind have not achieved anything like the production baked into the deal .
4 - lack of transparency is a big one no CPR no independent report on merger, Pitiful lack of detail in Prospectus.
Info has even had a 30 minute one to one with MF and its still a NO !!.
I think JR has confirmed what the vast majority on here thought allready rather than led us. I also think his views are far more than just his opinions but evidenced and factual based.
I'm not saying MF has any dishonest intentions but as it says in the song turning back is hard to do. Not many in his position would do a Duke of Wellington and march them down the hill because £7m at stake and your own credibility.
Yes he would have to go on a NO vote

Mrs Norma fair point and poetic licence but General Levy brings out the worst in me as he provides nothing of value.
On reflection I see a do nothing and sqeezing the assets as bringing £5 of returns to shareholders. A yes vote and we will never see £3 again. IMO of course.

General - I don't know about others but I'm holding out for an alternative bid which the odds of are miniscule or a No vote where IMO the price will soar.
If YES succeeds I'm out and I suspect many others will be to
Hope springs eternal.
I've asked you many times why you like the deal but you've never explained.

Witan investment trust head honcho talking about China opening up.
Our version is in the Heart of Darkness seeking out Conrad Livingston & Stanley !!

I like the cash generated. Net debt down £17m from half year add back £14m dividends = £31m generated in a difficult six month.
Still 13% to go to my buy in price but happy this is safe and one for the bottom drawer

So Angry
This deal could pass on a simple majority with 5% turnout. Which gives away control
With Mecuria in place nothing passes without their say so even with a 74% turnout.
Madness

I thought the video was measured and factual. The points made incredibly well articlated and in plain layman's terms.
No one in all conscience could vote YES to this.
Back to that question what's in it for the large PIs
I was so angry on hearing video I did some detailed research on the terms of refernce of the Audit Committee. Sadly its Board controlled and mainly legal duties but there is clear conflict between the Boards best interest and the Shareholders on the deal so I suggest SHs write to the Audit Committee asking they consider assurance thst BoD reccomendation on the deal are evidenced, objective and independent. This becomes the Committees business when their is a conflict of interest whether actual or perceived. Which their clearly is.

Sphinx - ridiculous comment. Like anyone on here can personally influence the price of PSN !!
If you stop and reflected you would see it was a balanced assessment - material shortages easing
good news continued delays not so good.
Thanks for your input Trencherpilot

The reseach note is pitiful
No lessons learnt from their previous valuation on 1st September 2021. The then value on the same non risk based assessment is 1.6p. Its fallen six fold. A blind donkey could get closer.
Complete tosh the valuation assumes everyone of ten fingers in the RRR pie will crystallise. A fair risk based deflator is to assume one does so 80% deflator so say 0.45p value is fair.
Presumably RRR is funding this rubbish ?
.

Skier - I wish you would fall of a piste and move on.
You arrive with all your brexit bull and are now knocking socialists for no reason.
Just move on please this is a politcs free board . We talk about PSN and house builders.
Lloyds is the board for you

Bad apple.
Agreed but to mates agreed at a higher rate than the SP which is a saving grace.
But whatever this Board do will be the advantage of mates.
The main beneficiary will allways be mates.
Opportunity for those buying in at below 3.5p but plan your exit carefully.
Snoop dog can plough his unevidenced rubbish about dusters but he's just a buffon as everybody knows. I know it's hardly an appeal to new investors but the BoD has to be called out for what it is.
I've seen very few if any defend them on here.
We could find the biggest gas reserve in history and Shell might pay £500m for it. Mates will have the cake and us the crumbs

Well done Noel.
No one is calling you a Liar anymore as you predicted.
Hats off and fair play to you.
Onwards and upwards for DELT. Like Cuckoo I'm off at 4p. I share his and Fairdealers concerns on the integrity of the BoD.

Reads outstanding to me £4.6bn forward orders.
£300m aquistion costs for Countrywide paid off !!
The protection affordable by partnerships in a downturn is excellent.
My top pick house builder

5.65 to sell. Pleased with my trade.
The price had fallen 60% in Jan before results in anticipation of bad news.
The reported position is concerning but within guidance- drop overdone

General Levy good to see you back.
You were a fan of the deal previously. NormaStilts is alone as a YES voter with 33 other posters voting NO.
Are you still in the YES column as I think Norma is a bit lonely.

SW - 4.99 to buy.
Feel for long term holders. Peach looks an attractive proposition caters for wealthy. Offers much needed downside protection on the original portfolio.
Real value here at 5p

Shandy cash on day of aquisition was £0.7m so burn since October 18th was £2m.
Looks like they have at least £12m headroom on debt and no bond holders so seems a reasonable punt to me.
Anyone bidding at 6.5p for the company pays what they paid for Peach so gets the whole of the rest for free.
Brought in at 5.015p and could sell seconds later for same price so spread very tight.