The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
So we learn from the Sunday Times that SAGA have another mystery stake builder on around 5pc. Would they not be obliged to tell the market when they breach 3pc? Are they (or any other stake builder) the big seller today?
If the SAGA share price fell to 5 pence, people would panic sell thinking that bankruptcy was imminent. If the SAGA share price fell to 75 pence, people would just think it was a stinking investment. Consol is an illusion.
I too wonder why our knight hasn't tried to take the company private. But my bigger puzzle is that at his age, why has he come back in and what is his end game? He's been out of both travel and insurance industries for around 15 years and won't even have experience of the new digital world in which SAGA now operate. Even he is still at the mercy of the virus. What happens if no vaccine arrives in time, and yet more funds are needed?
Marcus, you realise that 15p is not a figure set in stone, don't you? That's just the stated MAXIMUM. My concern is that neither is 15p a base price, the share price could still decimate even more.
Could Aviva not have just bought shares in the market, then made a hostile bid and offered our knight a top job at the new company, saving him the millions he stands to lose if this all goes pear-shaped later and the share price bombs?
Why is the expectation seemingly that the share price will only go up after the placing? Take a look at the share price graph for SAGA and it doesn't look good. Why should the reappearance of a 71 year old former chairman, who left the industry 16 years ago mean that fortunes will change only in one direction? The market could easily go on disliking SAGA and voting with its feet. I hope or a reversal of fortunes here, but it's certainly not guaranteed. SAGA are selling insurance, but not travel until who knows when?
"things will start to improve a wee bit later"
Says who? Corona, Brexit, job losses etc etc - the share price could continue to decline, why should it not? Even Sir Roger can't control CV. People still can't book cruises that are cancelled. We need an urgent 'For Sale' sign putting up quickly here....IMHO
Titan Tours was put up for sale in January 2020 and didn't sell. Destinology is now up for sale - not sure if this will sell. So really, SAGA has tried to split itself up - without success.
My question was aimed at Selecta6 who posted that (s)he is "concerned that Saga has no direction and it's future is questionable".
I have to ask you this - why possibly would you buy into a company that you have so little confidence in? Why would you not run a mile and sell?
What about tours (Titan) and travel (Destinology) - do they count for nothing at all????
I'm holding SAGA for what I thought was longer term recovery. But does anyone have a fair estimation of any values for either takeover or breakup values of the group - just wondering if 'someone' is stake building with intention here?
Would you REALLY want someone to jump in with a lowball opportunistic offer for SAGA? if they paid double today's price, they would buy the company for only around 30p per share. Is that what you would want to happen?
I don't expect there would be any current interest by another insurance company to buy Saga whilst it is a Siamese twin with a travel company. Even if you split Saga, who would want the travel side that is already partly for sale and its cruises can't operate until who knows when….?
You have posted 16 times today, all a load of drivel. Who POSSIBLY cares what you have bought and sold or what you think?
Does anyone know for sure if Elliott is still a 5pc holder in SAGA?
What was this about????
Data Subject Access Request.
Why possibly do you call this gross mismanagement? Saga do more than sell cruises, they have insurance and tour operations too. Furloughed staff could not have worked through this period. MISMANAGEMENT?!!??!!?
Have you told your doctor how bad you feel about everything?
No divis for 4 years?!!?
"These deferred amounts will amortise over a four-year period. Interest remains payable and no dividends can be paid by Saga Group while these principal payments remain outstanding."