The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Yes but you can say the same about Quiz. I think people are fed up with online stuff unless it is really cheap like shein. But the costs of having stores and business rates etc. staff costs are getting higher and higher and Labour are committed to getting rid of zero hour contracts and controls on strikes etc. no wonder mkt hates this statement. 5 pence on the way if they actually start buying stores.
Shareholders turned down an offer of 100 pence although I sold in the mkt for higher than that as mkt hoped for a counter offer. Raised a load of new money at 20 pence and I bought back then. Down and down and here we are at lows of below 3 pence. Xmas on the way and will anyone book any parties? I doubt it. If not this will be broke next year and either in administration or maybe an offer of one penny? Not all their fault I guess. Covid and WFH has done for them.
What a dawg this has proved to be. Not always like that though. I remember when we all talked about buying a brand new sports on the back of Horse Hill. The trick has always been to sell Angus at the highs....easier said than done when there were dreams. I managed it a couple of times but always with reluctance. Over 30p once....seems mad now with this nearly broke after all those placings
Bad review tonight in Telegraph (paywall). UK does not welcome the control of a UK bank by foreign investor. Metro is now paying a colossal 12 per cent on some of its debt. Huge dilution for equity and a kicking for bond holders. Another 40% of mortgage to be sold leaving....not much.
This is bad. Be carful
A general equity raise would have seen Metro at 70p plus. But this deal is terrible. The majority holder now owns 53%. They can do as they wish. Sell off the best bits of the company in a deal that excludes other shareholders, take the company private and delist.
Corporate governance is the biggest issue in investing. The majority shareholder can do as they wish. They wont care about you. If the share price tumbles to 20p, they can buy more in the mkt then make an offer at that price and you can do....nothing
Now owned by a foreign organisation with 53 per cent. Can do what they want. May sell bits. Raise cash to get back their investment and exclude other shareholders. Usually a terrible investment. Institutional investors won’t touch this. They have no say.
Yahoo finance has this at 32.42p at 10pm tonight. No idea if this is any indication of what is likely to be a very bearish mkt day
"It’s hard to avoid the conclusion that Metro Bank is in the final death throes, and therefore so too the whole wildly over-egged challenger bank experiment".
Yikes...telegraph tonight
We don’t know. The Fed and Bank of England will have a good idea of course but they are not saying. There is a lot of speculation and the shorts are going to make a fortune. Meanwhile the amount of debt owed by governments is staggering.
No they will buy new shares in a placing and will press for the lowest price to max their profit. It will be substantial of course. Metro won’t go bust but as in the USA it might get taken over for very little. Holding banks is so risky. An article yesterday in the press pointed out that the government sold long term gilts to banks and pension funds for a price of 330. The price today to buy is below 50. Gilts. The buyers will get their money back in full in 50 years but until then the coupon will be just 1 per cent. The losses sitting on some of these balance sheets is just eye watering and at the moment it is hidden. Technically some of these banks and funds are theoretically broke. Bankrupt. Which is why the mkts are so nervy
My guess is 25p. The shorts will buy heavily to close out I reckon. We might see a bounce then down into the teens. The publicity today is not good and a lot of capital will have been moved. Protection for banks is what? 80,000?
I thought about buying at 15p. I am just not in a buying mood at this time.
Well done to all those who hit the button.
52 Week High 155.00
52 Week High Date 16-Feb-2023
52 Week Low 48.00
52 Week Low Date 04-Oct-2023
Cannot see this going bust. Great customer in branch service. 48 pence though! Wow. Lows where? Mkts very low as
interest rates worry. Presumed the next was down not up. Bond mkts in big trouble.
Been in and out of this for years. It listed at crazy price. There is a store where I live in the shopping centre. Always empty. Just too expensive compared to the competitors. Who are always having sales. Going bust….no idea but Wilco store is just along from quiz. Sign of the times I think. May take punt if this fall continues. Best chance is the family buy the company back.
Lots of overhyped companies have dived in price since placings like this. Stuff like boil. Now down to just 8 from over 20. This stock has had a great run from 6.5 and a placing was expected and normal. But now there is plenty of new stock and the price will struggle to move up as quickly as before. The herd will move on imo and might return to the other companies in the same area that have fallen away sharply.
Yes it’s stupid. Not the deal or the raise at a premium. All the red tape and the need for a pointless admission document. Expensive and pointless. We were told that this sort of nonsense was going to be abandoned in U.K. mkts. What is the point? No wonder investors are so disillusioned. The proposed changes by lse need to come in to stop all this rubbish but of course lots of people are making lots of money out of these old quill pen rules that achieve nothing at all. Good stuff by the company of course but easy to see what they are up against and why no new companies want to list on lse or aim at the moment and look at other stock mkts. Red tape galore, little investment and valuations that are the cheapest in the world. Sorry for rant!
As the company indicates in the rns there is little point in continuing with a listing. The discount to nav is huge and the mkt is not interested in this type of company. My guess is that the company will delist and holders will get bits and pieces of cash back over the next couple of years equivalent to about 60. So I will hold these and might even add if the price falls to silly levels. I recently received a slab of money from a delisted company that was much more than I paid. You have to be patient but the assets here are 4.5 times the current price. This is the problem with the U.K. mkts at this time. Cheapest levels ever and no liquidity and stupid red tape
It is a great bank for customer service and was the only one who opened up an account for my 16 year old. Plus at an hour when all others were closed. The branch is right next to the busy shopping centre but is always empty. Why? What services do they offer? I once had a small business loan but that was closed. i never hear from them about anything.
So very happy with Metro for convenience but no to the shares. Not a real bank
Sure got a chance if rns released
Thanks for Mpl. Already in profit despite the spread. Punting money only but a company rns would help