Member Info for BillTucker89

Pundit- I mean the hardworking people in the business that go out there and deliver a fantastic service everyday. Note I said administration not liquidation which means the business will go on, but under a different name, change of ownership, which means shareholders will get zilch. The government contracts will not be affected as the Cabinent office support the deal, I have no idea what will happen to the others, but suspect they might care if they see a consistent service. It’s the Interserve name that will be damaged, and people will always remember what happened regardless of you changing the sign on the front door. This might make it difficult to win new work hence everyone is trying to that scenario.The boom you describe is very unlikely as like I said they will not go into liquidation as this is a strong business just short term cash flow issues, and some silly decisions have bought it to this outcome.

MrEdwas- looks like Emerald got what they want as opposed to the banks, as the banks are not interested in owning the equity in companies. They will most likely hold the £350m debt secured against IRV whilst the likes of Emerald take equity of a healthy profitable business that will emerge. However it will be sad to see a once respectable thriving business go into administration, as the workforce is one of the best in the industry without a doubt.

Streets- agree I’m getting fed up of the movement here now, it seems to be stuck in a single narrow range. I invested just before the results in Jan expecting some movement with the positive update but this has done the complete opposite.

CC agree hope it all leads to a positive outcome on Friday, for the sake of the employees.

Share price backtracking fast. I suppose with the details of the plan still in dispute just 48 hours before the vote and the 2 articles around EFW have not helped matters.

What a total mess!!!!

I don’t think it is, company needs new equity this week to stay afloat. I suppose it’s down to the discretion of the lenders.

https://www.google.co.uk/amp/s/uk.mobile.reuters.com/article/amp/idUKKBN1QS2A4

They are talking to Coltrane to ascertain what it would take for them to support the deal. I suspect they will want a RI which will not be feasible in the time given.

Looking to buy here if it hits below £4 as the underlying business is solid and net debt manageable.

Feilb- most likely the lenders. Don’t see anyone trying to build a big stake here now. Interesting question is whooped selling this kind of volume? Standard Life I suspect.

Below the the OO price now. I wonder how many people will sign up to this now? Doesn’t look good, pre-pack seems very likely.

Pretty sure there was something in the prospectus about done sharex hitting the market on the 1st March, thought can’t say for sure.

214m is all over the place so is it a central base where they all get their information from?

KingArthur- Like Feilb says any good news is irrelevant for shareholders now, it’s the BOD and the lenders that will be reaping the benefits. If you think this SP will £6 then you are largely mistaken since this will give the company a cap of 18bn which is impossible.

This looks like it’s all over tbh if the share information is correct.

There are now 214m in issue as opposed to the original 150m. So I’m presuming another 65m shares have been issued to the lenders to get the deal over the line.

So the lenders have 30% of the votes and Coltrane and Farringdon have 23%? Another fudge from the great BOD.

Except they seem to think they are immune according to this headline. Anyone got suscribtion that could check the detail?

https://www.partnershipsbulletin.com/news/english-law-may-protect-interserve

Pbody- yes very volatile and unpredictable. I will holding keep of my money for now, this is shambolic.

Personally I think these are just delaying tactics and putting a gun to the shareholder’s heads to accep the deal. We are only 5 working days away from the vote and the way this is going, suggests to me a pre pack is very likely now.

Coltrane keep putting forward plans which are subject to “due diligence” and of course the board are not giving them the requested information which will alllow them to do this. The board then reject the plan saying it can’t be implemented as it’s not a guaranteed plan and is subject to more in depth analysis by Coltrane, and then re-emphasis theirs is the best you’re going to get.

You end up with a vicious circle which no one can seem to break.

Feilb- As I said yesterday they seem to have done a fantastic job in collapsing the share price. I had my suspicions last summer when the share price was drifting away, yet the board remained silent. No statements isssued to the market to reassure investors or stakeholders alike. It should be no surprise then that they rejected another sensible and well thought out deal.

How can they expect Coltrane to come up with a binding contract, if they are withholding information they have asked for?

I see another 125% bonus coming.

I shouldn’t have sold out last week, but as my average was £2 I thought it was a no brainier. However with this new deal if I buy back in my average will be higher than £2 and I miss any potential rights isssue!!!!

Meta- wish I could answer that one, but unfortunately no on on this board can. However it does appear it’s all about personal gain here from all three sides, so everyone is making up a story to suit their case. I do see Coltrane having a point on the debt, as it seems to suggest the BOD have deliberately breached the facilities to trigger an insolvency.

I’m sure they have done their research and due diligence around this. Would be interesting to see what happens after prepack if a deal cannot be reached. There will be some car to answer as now the BOD cannot simply argue that was the only option, since they now have an alternative.

Feilb- yes I agree they’ve done one hell of a job surpressing the share price, and will reject this deal fairly quickly.

The main issues they face are:

1) there will be no personal gain for them for going for Coltranes offer, whereas they stand to make substantial gain from a D4E.
2) they have just justified spending £76m on advisors to come up with a deal. Now Coltrane maybe spent just 500k or so on a better counter offer. If they implement this how do they justify this cost to their employees and other stakeholders, and makes them look like incompetent moron that they are.

Easier to say the counter proposal is not workable or lenders don’t like it, when it reality it never left their desks.