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Thanks Billybob, I guess the market has just got it completely wrong then and we’ll jump to 180 tomorrow when it corrects itself…..that’s a relief. There I was worrying about the debt pile, huge profit reduction this year and in future years, selling an insurance business when it’s at its lowest value in years etc etc…..
I guess time will tell rogue. Fair point on the hand the management were dealt. There have been a number of decisions which I’ve struggled with…..3 year fixed product was always a huge risk and inflation exposed that risk, continuous restructures costing millions have been poor, the remuneration scheme which rewarded poor performance has also been an issue for me.
Rebound based on what? £20m a year with £700m debt….if the positive posters would actually put forward some relevant thoughts that would be great. The rest of us are just looking at the cold hard facts and numbers
The irony that this business has decimated the savings of its own loyal customers is not lost on me…..the people banging on about £5 and £6 parties are bordering on delusional. Appreciate I’ve been negative on this stock and the management team for a while but there should be others out there who are just as angry with the management teams continual poor performance.
I did. Didn’t catch all of the questions as I had another meeting. The reality is if the bond didn’t need repaying, they wouldn’t sell AICL in the current climate, but they have to raise cash so I’d expect to get nearer £75m for it…..which isn’t great.
The problem for me is that Euan and James will be riding off into the sunset with their millions well before the long term plan works or doesn’t work so I’m not sure it really matters to them.
I’ve reset my short term goals and hope to be out if there’s a spike on the AICL sale…..long term value for shareholders just won’t happen, trade it when the opportunity arises
The only bonus is despite is being a bit of a joke for a listed business to need a millionaire to prop it up, he clearly isn’t going to let the business crash and burn without giving it every opportunity.
Long term this business is dead but still
Hopeful that a better exit is in sight shorter term
No idea how the market will see that update. Roger to the rescue again. Can’t see them using the facility but it avoids the nightmare of issuing a negative going concern statement which would have crushed the share price.
125% combined ratio is horrific
History tells us that shorting on the day of a saga update is the logical thing to do. I’m still in and hoping to recover some losses before bailing. If it does tank tomorrow I’ll probably average down and hope that the drop is over done but who knows with this company, it’s the hope that kills you