Member Info for BillTucker89

LLUCAN, i don't think thats correct? Which lending organisations own 70% of the company??

Some big sells going through worryingly. Will be keeping an eye out on the RNSs, if any of the big boys are bolting then that's a sure sigb its time to get out.

Also to add those of you that don't know, they have to make a repayment in feb they need to repay around 50m which they don't have due to receipts and WIP being passed this date.

Not sure yet but most likely next month. Going to do some more digging before making a final decision, but not looking good at the mo.

Eodfire- Im a long in this like you, but Meta does have a point. I don't see a good deal for the shareholders as the only 2 option on the table are a D4E or new equity. At the current price it will be extremely dilutive. There is only hope if the latter is a rights issue, as you offset your losses from the gains in tbe bew shares. Also noted the RNS does not mention shareholders, whereas in January DW specifically said " restore shareholder value"

Standard life Aberdeen upped their stake to 5% yesterday. Also noticed Farringdon L now hold 3.79%, but in not ling before that Farringdon Asset Management had over 7%. Are these two seperate companies?

The only other option i see is for the banking convenant to be deferred, and RI when the share price recovers next year due to receipts, WIP released etc...

Very unlikely though, and I'm sure currebt shareholders will participate in RI without a discount to protect their investment

Im sure existing investors

Meta agree, just depends how much the banks will take. 70%, 80%, 90%?? All speculation at this point. They shoukd have called the rights issue at 1.2.

They are not reliant on insurance premiums. It's Insurance receipts from the EFW contracts, which will claw back some of the losses incurred. These can then be used to reduce debt.

Sale of RMD is not going to happen. From what I've heard it's going to be D4E or new equity.

However i don't know if new equity means a rights issue or bringing new investors on board.

Obviously as a shareholder i would prefer a rights issue, but not sure if this will be considered. I have 70k in here so at my witts

That's not good if they have already penciled in 2018 results, but nothibg in the interim. We at least need a q3 and end of yeae trading update in between. There's possibly more write down on the cards, who knows...

Anyone make sense of the RNS. Have UBS decresed or increased their stake? I must say there is still significant risk here, and things don't look to be going too well as the minutes, and the lack of an update is becoming concerning. Hope this is not going to be another Carillion. I was very positive at first, but starting to become concerned now, and since I invested at £2 I can't cash out either.

Adenjo- Peckers post is based on a cascade to employees. I also hear there is a disposal to be announced very soon, though it's only likely to be several million pounds.

Just found this, i wonder how much will be written off in the next half. https://www.constructionenquirer.com/2018/08/16/york-council-retenders-interserve-guildhall-revamp/

PeekyBinder- I share your sentiment and still work for IRV, though my investment is double yours for my sins.The lack of news is certainly not helping matters, as the market takes it as a negative. If the BOD don't put something out their soon, this will be even more played by market makers. Only positive at the moment is the amount of shorts still open, that will need to be bought back and drive up the share price.

It's difficult to say whether or not there will be a rights issue, as Debbie previously said there won't be one until next year. However the lack of contracts can bring this forward, but at the current share price it will be insance as they will have issue at least 1bn shares to make any inroads into the debt. Of course if there's a recovery to 1.5-2.0, then the chances are higher.

Meta- yes Capita is another one gone silent, but to br honest I'm not too concerned with my investment there. They have just done a 700m equity raise, made a 160m disposal and just won a 500m contract. Yes my investment is still down by around 50%, but the risks have significantly been reduced. We have not had any such activity here, which makes it more questionable.

@Demps yes we do need an announcement and to be fair at this point, it doesn't matter whether it's positive it negative at least we know where we stand. A recent example was a an NH contract that Capita have which i posted on this thread, which mentioned the losd to Capita was 140m over the life of the contract, but HMG saved 60m which way more than was anticipated. The goverment will still outsource as the save loads to pay their expenses, but i wouldn't be surprised if they want contingency plans as part of the bid. As you say it seems to be freefalling, and I'm conscious pf it dropping too low that the upward climb becomes a near impossible task. I would have cut my losses but with 65k invested at an average of 2, that is not an option at the current sp. That said i still have faith in the company it won't go bust, but what happens to the equity is a different matter. We still don't know the likely recievables from insurance related to EFW, the full details behind the refinancing On a different note i motice alot of LSE posta ate going missing, hence the chat tooms have been quiet

Is getting me slightly concerned now. We have had no communication after the AGM, nor an expectation of when we will get a trading update, i suppose the BOD are busy spending their bonuses. The radio silence is not reassuring, and I'm starting to wonder if Liberum were right about equity. Are we about yo get wiped??

Came across this article which just reinforces the govt have been screwing suppliers big time. Capita expect to loose 140m over the life of this NHS contract whilst goverment will realise savings of 60m, savings more than it expected to make 😉 https://www.google.com/amp/s/www.theregister.co.uk/AMP/2018/06/19/capita_admits_it_wont_make_money_on_botched_nhs_england_contract/