Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Not a lot to be honest. With Roger’s holding in addition to the management shares, every resolution gets passed.
Sadly it’s a lifestyle business for the senior management that is being funded by Roger at the expense of shareholders.
Euans £6 transformation plan is a joke and board governance of what’s been going on over the last few years is also pretty laughable……but as long as they’re all getting paid handsomely the gravy train will continue to be run
Or the market knows more than us and we’re in for yet more bad news……starting with not being able to sell AICL and taking yet more money from uncle Roger to bail the business out…..genuine bunch of clowns at the wheel
Not sure it will make any difference. If they can’t sell AICL after telling everyone for a year that they will, it will be punished……particularly with the extra debt implications.
I wouldn’t mind but Euan has been bullish when asked/challenged on the sale twice this year so if it doesn’t happen it’s yet another example of his lack of credibility.
I’m in that club…..not at £3 but higher than I’d have liked!
Sadly we all know this is a dog, just a question of individual exit prices and whether the SP will ever reach them. It would take an absolute miracle for this to get to £4/5 and beyond so I’d write that off now. The leadership teams £6 transformation plan trigger is a joke
Sadly they/we need the cash from the AICL sale so I hope it goes through.
I broadly agree with the strategy of lowering capital requirements and focusing on a broking model. Having an in house underwriter is not worth the hassle if their panel share is declining and expansion into writing business for other brokers is difficult in the current climate.
I’ve said it before but if they don’t sell AICL, we’ll get hammered by the end of the year
They’ve literally said that they aim to sell AICL this year and have had to get an arms length loan agreement with Roger de Haan for another £50m if the sale takes too long as they won’t have enough cash to pay off the 2024 bond……so it’s pretty important!
£4 would be lovely! Right now I’m hoping that the recent trend upward means that we might be getting some positive news on the AICL sale. That’s all I care about in the short term……if we finally got a positive trading update in September that would be a welcome bonus.
Some great points ref the history and the AICL sale being critical this year……in fact they need to have that sorted by the end of the summer or we’re going to get hammered.
Also worth noting for newbies that with the consolidation came a chunky dilution which didn’t help long suffering PIs
In my opinion this will never go back to being a £2 billion business, but there is potential for upside here if we start getting some positive updates on the new businesses Saga have launched…..in addition to more positive updates on the travel business.
In addition the AICL, the kicker here would be some positive news on the insurance business.
For me the September update is critical, real positive news rather than just being happy with progress against the strategic plan is what we need…..
I’d be interested to hear some of the LTHs price targets, mine was £2 but I lowered expectations after the last set of results to 180 ish…..hopefully by the end of the year if the AICL sale goes through