Member Info for BillTucker89

gazza this is FTSE250 not AIM. Are you on the wrong board?

Thr proposals is as follows

7.5% existing holders 150m shares
55% lenders 1100m shares
37.5% rights issue 750m shares @ approx 15p raising 112m
Total shares in 2bn

With the above the rights issue is likely to on 1 for 2 basis. I can see the lenders agreeing to the 7.5% for existing holders but it’s the RI which is questionable. Plus side is bankshave to pour no more money in.

Feilb- I’m guessing it’s based on a projection that bet leverage will only be 1* by year end which will make IRV an attractive investment and drive up the SP. This deal places the SP at 39-40p post D4E.

Sorry the dates are vice versa. 26th was the record date and 28th was the ex record date.

Guys anyone know what date is being used for open offer entitlements and rights issue? The ex records date was the 26th, with the record date being the 28th. However I haven’t received any piper to take part in the OO, but I sold out in the morning if the 28th.

So it looks like I will be excluded from any potential rights issue to?? :(

I still haven’t t received an offer even though I’ve only sold out in the 28th. Not that I would of suscribed anyway, but Would like to know why I was missed off. Assuming any other plan goes through I’m guessing they would be going by the same dates?

Gaza- means you will purchase 69000 shares from the lenders for £10557.

Only guessing but I’m assuming there’s an error in the article and and it’s meant to be 55% lender, 7.5% existing holders and 37.5% reserved for RI.

How the hell have the put this deal together? Also article says lenders will get 55% with share holders retaining 37.5 if they take in their RIs. But what happens with the remaining 12.5%, assuming it’s reserved RI for lenders.

Well said Fate they certainly need to refocus their efforts and in getting a deal through rather than just repeat this is the only deal avaible again and again like a nursery rhyme.

Those who have said a pre-pack will not do much damage here are totally wrong and need to do their reasearch, as even the lenders and BOD have stated this. It will damage the companies reputation, leaves joint venture partners with the option to acquire IRV’s stake at a bargain price, as well as some of the lenders having to pay certain clients who have bonding arrangements on their contracts should IRV fail? Now tell me there is no impact to the lenders here??

That said I don’t think the above will stop a pre-pack entirely, but certainly will be causing them grief? If they had nothing to be woirrried, the BOD would not continually pleading with shareholders to approve the deal. It would just be take it or leave in which we’ll go down the prepack route. No one wants a prepack but looking very likely, and the penny will drop by 6 months times but it will be too late.

My2penneth- they may well do sweet f*** all, but that’s the sort of capitalist society we live in. I do agree with your comment regards the equity raise but personally think it should have been done after the first EFW annnouncement. The fact that current management did call one at 1.20 as you suggested, I suspect some foul play here. It appears to me they were in cahoots with the lenders and this deal was already done back in spring last year, and then the BOD have spent the last year deliberately surpresssing the share price to the current levels.

There was an article yesterday where Glyn barker claims he’s lost a lot of money in IRV so shares the pain of shareholders, however it was biased as he didn’t mention how much him and others would get for getting the proposed the deal through which likely to be hundreds of thousands. They also claim it’s the only viable option.

https://www.google.co.uk/amp/s/www.telegraph.co.uk/business/2019/03/03/rescue-deal-interserves-viable-option/amp/

This is beyond predictable, best to sit it out abd wait.

It would be logical thing to do. We’ve all seen how much advisors have milked out of this company, one can only imagine how much alitigation would cost. The cheapest and logical option of course is to give away more equity, it hey what do I know.

Well they were given around 4.5m shares as warrants for 10p but no idea how many they bought outside this. Also if you look at the TNs from jan they were issuing more than 14m shares as warrants so not sure if these have been issue yet. This will give them around 12%.

Looking at the volumes today they are nearly double the sells, with the some really big buys. Yet the sp stays where it is?

The 200k trade alone bought nearly 1% of the equity so I wonder if the lenders are playing crafty and gobbling up the shares?

Waiting for under 15p to buy in here, around 10p would be ideal.

Thank you for the kind words Pbody and yes I will have a look at the company you mentioned below. I got caught out at £2 actually not 70p but you live and you learn and can only go by what you are being told.

Unfortunately I invested in 2016 after being told EFW being exited with a £70m exceptional loss, but as we know today that is not the case as still this is sucking money out. If you remember last year they said the costs related to EFW now would neutral but they just took another 15m hit on it, and of course many million yet still to come. I wonder how they are getting away with all these lies and look forward to FCA holding them to account.

Meta- wasn’t having a go at you mate you make a decent contribution at timesn, but you do come out with total rubbish st times.

And no I’m not putting my faith and banks and govt, if I was I wouldn’t have cashed out at a such a big loss.

I might just hold off until after the refinancing when there is little or no risk of prepack or liquidation. I am guaranteed 15.3p but just be a case of waiting to see it drop further after this, hence the board not buying.

Meta- Maybe go join a board where you’re actually invested rather than come and talk nonsense in here.youmust be so bored or obsessed with IRV that you continually plague the board, but have no position.

Yes no one wanted that position with Carillion, but did anyone foresee the damage it would cause in the future? Answer is no they didn’t , suppliers went bust, taxpayers forked out a fortune, banks lost millions along with all the rest.

Now the govt and banks have witnessed what a liquidation will do, no one will want a repeat unless everyone is looking to loose s few hundred million.

Mera84- but you forgot to add it was only months after Carillion went bust that they realised the extent of the damage. No one wants a repeat of it, so all pressure will be to reach a satisfactory resolution. If Coltrane issue a binding proposal then thinks will pickup, otherwise it’s prepack but certainly not liquidation.