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If you really think someone can put out a potential offer, with a specific price, then sell all their shares before they've declared they are no longer going to make an offer, you've probably got fewer brain cells than your average fruit fly.
I'm not sending you anything lol. Okay really now I've gotta work so good luck with your delusion
Just refreshed this mid-morning and thought I'd chime in with a comment.
If he's doing nothing, and he sells his shares before declaring he's doing nothing, that's known as insider trading. It carries a lengthy prison sentence. Heard of it? Lol, you guys really make me laugh sometimes.
Back after lunch!
One last thing, I have the numbers in front of me. IF SPD bought 85 shares (which I don't think they have), they would have 29.9000069350435%
Actually I just checked the board before I went out for my morning run, if you absolutely must have a play-by-play update of my life. Anyone here who walks through Hyde Park on their way to work probably saw me zooming past.
Wrt the RNS, there are equivalent ones on Liberum and Numis on 1st of April and 28th of March. It is dealings by those companies, not SPD itself and doesn't have to be on behalf of SPD. That's my understanding – happy to be corrected by an expert on the code. FYI Liberum covers SPD as a broker, and Numis is advising SPD (hence, they are both "connected" to SPD and hence have to disclose).
Anyway, I've got some work to review this AM, enjoy the show
My current assistant is awesome – much better than you jokers!
Get back to managing your office! The people need their biros
Lol yep, had meetings on Friday but otherwise I've had a chilled couple of weeks. Been pretty good. Anyway, I think I'm done for the evening, gentlemen. Speak to you in the am
Plus I'm not that busy this week (or last to be honest) so killing time!
Literally came on here to try and just provide my opinion to anyone who wants it. It seems that people with experience aren't welcome here, MUST have an ulterior motive, and are clearly just "wasting time on a message board".
Depends how quickly he wants to build his retail "empire" aka real estate company. But that's a discussion for another time! And let's leave aside that paying out the debt in full is overpaying for an asset with a public company's (SPD) money!
Cheers HK, you the man. I know, but I'm forever a pessimist. There are a couple of Oil and Gas situations where I'm bullish but only one of them is listed on this site (and it's not the one I'm long in!). Maybe after this is over, I'll share some positive thoughts over on one or more of those.
Thanks Happy, I'll try and keep it up .
themuir – lol it really pains you that people may have more experience than you, doesn't it? I already told you I'm short here, because I think the most likely outcome is a zero for shareholders. It would be sh*t for everyone here and I hope it doesn't happen but it's the reality most of the time and at the end of the day, I'm still an investor. Now MA is a wildcard and you never know, but I think this is now just a complete gamble if you're long. Could work out, might not. I'm just trying to help people understand what's going on and what rights everyone has, and how they might think about it. If I'm not helpful to you, then you don't have to reply to all my posts in such a sarky way
JD a lot of good points in here, but the points on debt are a little off.
Cons point 1 – a pre-pack is a zero for existing shareholders.
Cons point 2 – amount of debt is usually measured relative to EBITDA (some industries like Auto measure relative to EBIT). Also there are cash flow (ish) measures like EBITDA / Interest. Regardless, the debt would be due and payable upon a change of control.
Only other point I'd make is in relation to Pros point 2. I don't think the bid level matters, it's about whether he can take out the debt in full.
A good fairly balanced post though, a rarity on here!
I couldn't care less how you guys buy or sell this to be honest. I don't think it makes the slightest bit of difference.
For what it's worth, I thought I could share some insight on the process on here (having been close to it many times before). Clearly, you'd prefer people like me just sitting back laughing at people losing their money. I'll take that view next time. No-one listened to me on Interserve, and I guess no-one's listening here either. This is a different situation because of MA, but the lender control is the same. The only factor here is if MA can put up £600m+
HK, it's not the board saying these things. They're just puppets for the lenders at this point (just like in IRV).
It still wouldn't "work out just fine" if he participates in funding. The funding terms will be such that if you don't participate, you'll be diluted into oblivion and then cashed out at a low price in a reverse stock split
Agree. I kind of want a platform to show you guys the little pieces of language that boards use to hint at impending stressed refi / restructuring processes. They're very cryptic, but they basically want to leave their options open. Even boards sometimes don't know the reality of what's coming, trust me on that one!
Nope I'm keeping my short as I think a zero is the most likely outcome. As it stands, I wouldn't lose money on MA's bid but at least shareholders would get something (PIs should've sold out much earlier than now but statements from the board may have discouraged this). Plus, I'd rather have one terrible department store on the high street than two, so I can live with MA's merger (until it blows up later!)
Also Warik, I'm not paid by anyone to try and push the price down. To be honest, I'd be perfectly happy if MA bid 5p and PIs didn't get burned. I just think it's unlikely, and PIs are often misled by statements put out by these companies and don't fully understand the process that's happening. Tried to warn over at IRV and got shouted down in similar ways. Look what happened.
officemanager – in finance there is no difference. Sometimes, people refer to "stock" as all shares in issuance or even the company itself. "I own many stocks" probably means you own shares in many different companies. "I own many shares" could mean you own many shares in one company, or could mean you own shares in many different companies.
This distinction is completely arbitrary and, due to the Americanization of the financial sector, the line between them is blurred. Also, nobody cares and everyone in finance uses the two pretty much interchangeably. But if you call your broker and say "I want to buy 50 stocks of Debenhams" (a hefty investment!), it's going to sound weird.
I know you think I know nothing about finance, which is probably due to the fact that my opinion on this *stock* differs from yours, but it's actually my full-time job. Do you manage an office by any chance?
Hmm, you got me there...