Member Info for bloodninja

Thanks for that fantastic deramp from an uninvested person. Dbay will be first in line will they? So all the other lenders allowed them to rank super senior? How do you know that? Of course their debt ranks ahead of equity but if this thing goes bust the likelihood of them getting their 55m is pretty slim, let alone any interest. The fact is Dbay are working through a turnaround here, whether it's to create shareholder value or not is irrelevant because it will naturally filter through if the trading companies are performing more efficiently. The not being able to raise 6m is a purposely deramping comment, I doubt they even tried to be honest and just pushed for the extension, they have an investment expert on board at ESL he'll have people he can tap up for what it a fairly small sum to invest via a listed vehicle imo

Google: Myles McNulty ESL twitter

Yes yes come to me rampers! Flood my inner being with your optimism and positivity! Good to have you all back

Couldn't buy! Anyone manage to get it in sub 7p?? MMs having a field day

Alexidiot - you're thinking of a cash shell with a clean balance sheet, i.e. no assets. This cash shell owns 49% of a multi billion pound business.

So Dbay pumped £55m into a dud did they Kully? I guess that's how they became such a successful investment firm with multiple profitable funds under their belt. I don't mean to attack but your post is sounding derampy and negative, the point is if there are things that need sorting that equal instant margin that's brilliant, because the current SP reflects the worse case, any upside to the business will be upside to shareholding in my view.

I wouldn't be surprised if Dbay sack poor management and really turn it around, or are they only interested in getting their 18% and £55m back? Where does the £55m debt rank does anyone know? Is it parri passu to all existing bank debt or subordinated? Interesting if subordinated as it means if this thing flops they'd take a huge loss, and hence will be laser focused on turning this business around - as such I'm quite happy to be along for a 49% ride

Ha Truth is still human though. Everyone off now, get outside and enjoy the sunshine or do anything other than post here, there's nothing anyone can do except wild wild speculation and it's a bank holiday weekend after all

Truth I quoted an RNS, if there was subsequent information that I didn't incorporate I do sincerely apologise. You are an odd character, with an odd agenda, do us blindly and wildly optimistic folks who are likely sat on a loss a break and Foxtrot Oscar with all the negative posting please.

Lol people here are delirious thinking they're getting 4p, 3p, 2p on Monday, what's changed exactly? Delisting would occur if they hadn't raised funds as required anyway, now there's an additional 6 months to do this and 49% stake in a trading company that's smashing revenues and improving margins. Dbay will want dividends to bolster their immediate return and if there's a spike in revenues and profits then I wouldn't be surprised to see this occur, I look forward to 49% of it

Cacher what on earth are you talking about? Please get your facts straight before coming on here trying to subtly deramp, appalling behaviour you're a disgrace. For anyone in doubt; ESL owns 49% of trading entities, Dbay owns 51%. Any dividend goes 51/49, simple.

Marcelos Limited ("Marcelos"), a wholly-owned subsidiary of DouglasBay Capital III Fund LP (the "Fund"), a fund managed by DBAY Advisors Limited ("DBAY"), will acquire a 51% stake in Greenwhitestar Acquisitions Limited, which is currently a wholly-owned Subsidiary of the Company and in turn holds the Company's interests in the trading entities of the Group

Nonsense, capital structure is very simple, we own 49% of trading entities here. We extract value through dividends only. The better trading company is performing the more likely any dividend is. Simple.

The question I'd like to see discussed is how are Dbay going to extract maximum value from this? I can't see how they win and the ESL entity here loses? Surely Dbay plan is to eventually see this paying dividends, the 55m PIK facility was the cost of their 51% and mitigates some risk but they still are making a back loaded return which is horrendous in the PE world, so I ask - what plays can they/will they make to extract value? Improve company and flog the 51%? Would someone want just 51%? I'm guessing not because Dbay have the 30% stake in ESL which they'd surely look to offload too

Some interesting views on Monday and overall perception of this share, my thoughts:

Monday may well just see a new range of minus 1p off the old range (i.e. 6p-8p), or it may take an absolute hit although I just can't see it, unless ESL should be priced to fail? I don't see why this would be the case, or are Dbay experts at buying controlling stakes in companies that subsequently fail?

Re the revenue/profit/cost - stating that they are undertaking all work at cost feels rather uninformed, a business that was facing going bust and had to accept an onerous bail out/in is highly unlikely to continue trading for the next 6 months at cost, in fact the notion is laughable! So my view on that, no offence whoever said it, is that it's utter nonsense. Plus there's considerable upside in lower fuel costs currently, my frustration is Eddie seem to operate as a goody goody in this industry whereas what they should have been doing was jacking up the price when they were one of the only hauliers with capacity to deliver when the nation needed it most! I know that's pretty raw mentality but this is business, same with pharma, they're not in it to be nice they're in it to make huge profits!

That's all for now, last night was the whiskey session for me (allowed given the RNS), and today has been a delightful write-off as a result! AF night tonight

Cheers though, BN

The more I think about it the more I think the new team will carve up every asset ESL currently owns because they likely have their own investment strategy, on the basis the assets held are worth considerably more than the current market cap the upside here is decent in my opinion. Obviously the market has its view, I'm not denying the fact that SP performance has been abysmal and probably lost lots of people money, but in better times this could be very well placed, someone said this is in for a rollercoaster ride and I think they were right

RonaldMcDonald I was in at 5.5p so it's plausible, tool

TPN EBITDA roughly 10m per last AAs so conservatively valued at 5x is greater than current market cap, need to shift it off to a PE house or something, seems ESL has untapped assets, just a paradigm shift for longer term investors: no-one cares about logistics any more, it's an investment company (or will be, apparently one day!)

Is TPN still fully owned by ESL? I know I should know this, I believe it is, figure just liquidate that and raise more than current market cap and hey presto: investment company.

This is a profitable company and turnover is up, would you like a calculator?

It's comedic that folks are trying to deramp by suggesting that the trading entities aren't busy, when I say lol I really laughing out loud at that one. This share is speculative on what can be done to capitalise on the 49% share and investment RTO activity, it will go berserk if an RTO is even hinted at. Assuming nothing else happens, well it's 49% of a billion pound turnover company that's thriving currently (per an RNS, feel free to attack but its fact). I think Monday will be a clinic in how MMs make money

Delisting always has to be mentioned look at other cash shell companies early RNSs, it's standard wording that has to be included. The fact they have 7 months should prove positive but let's see I guess

Hanmy, Lad - it would have been stop loss galore for those final 6 minutes, any stops at 7 gave way to the closing so of 6 sadly! Dufry, see how Monday plays out, the folks who were stopped out could be feeling a whole lot worse come Monday potentially!