Member Info for Davde

Been in for many years and sorely burned! Have been considering an average down to remedy position. However not impressed by BoD responses to CV19 in terms of cash burn, liquidity and debt position. At best they are a marginally profitable company, who to be fair have been improving but need convincing at present!

Hope you are right. GLA

Exactly this is a bonus to what was expected! When (if) they deliver POC test should go even higher. II's still selling!

The ODX website under shareholders shows II holdings as of today. Last week Mr Snellar had nearly 25%.

Sounds sensible approach, driver recruitment and retention a big issue pre Covid, if you cannot keep all stakeholders on board, service delivery afterwards not good! You will not get economy going if there is nobody to take you! A pragmatic approach will be mutually beneficial to all parties!

Yes you can bet there are a wide range of different contracts making it complicated to calculate impact! Would still like even a caveated estimate. The SP has been recovering nicely though, wish I had topped up in the 30s! GLA.

You have to admit RTN are fast off the mark. They have enough liquidity to keep going and manage transformation agenda. £3m loss per month seems optimistic but better than £15m. The EBITDA lower reflecting increased closure period assumptions. The main takeaway point for me is the Q4 EBITDA forecast, if that achieved and replicated onwards RTN looks good. Would not like to predict SP reaction tomorrow as a consequence of the placing but RTN are definitely positioning themselves to be leaner and stronger in future, all subject to assumptions being valid. GLA

It's the $50,000 question! I cannot see leisure or transport resuming normal service until after virus subsides significantly so would think late May/early June at best but we will see! RTN have factored in basically the loss of a quarters trading. They have reduced costs staffing and supplies to minimum, they said in previous RNS that it was going to cost them £15m a month which was before Govt 80% and board cost reductions. There is funding in place to ensure they have sufficient cashflow. A further update on monthly cash burn would be welcomed. This business like many others is mothballed but will be profitable again, the unknown question is when, but markets are starting to see an end point hence rise is my view! How high another matter, patience required. I do hold for my sins!

Yes saw that but LSE was playing up yesterday so not sure volumes correct! If it is then RNS likely re holding. The rerate continues today all good for RTN holders. GLA

Up thanks for clarifying as I was not sure. ODX still looking good and progress being made.

I have been looking at the costs etc for a 75MW wind farm. These projects can take 2/3 years min to deliver. Capex seems to be in £80m to £100m range. Predicted revenues of circa £8m p.a. after operating costs. There are risks so some news on feasibility plan would be welcome. Assuming planning granted it will be interesting to see what route PMG will take thereafter, self fund capex by borrowing or fund raise, partnership with operator or just sell on at premium. Exciting times you can see the potential of having a balanced energy portfolio. GLA

Has anyone noticed that Novacyt are doing well, they are the ones that bought ODX infectious disease arm in 2018. Not sure if this purchase is connected to them being asked to provide covid tests kits. The updates from ODX are very positive and bodes well for the coming year as we finally seem to be getting traction. GLA

More good news re UK bus revenues. An update on the progress being made with US businesses would also be welcome. They previously said they had reached agreements to get some or all income from some customers was being attained progress and numbers would be nice. Looking a bit more positive.

The growth division including Waga, pubs and concessions accounted for £145m of EBITDA approx 75% of group earnings. Interest payable on group loans £16m. So if business recovers to pre virus levels then yes easily is the answer to covering debt. I accept a few ifs in there but nobody as yet knows full impact and recovery period. I think the demise of F&B is premature but you never know Chiquitos was a surprise but not actually sure they are actually in administration yet!

Nice to see director increasing holding, shows confidence.

Hmmm I am sort of reassured! Not sure why they will need a loan might be required to see them over reduction in new orders pipeline which will become apparent over summer months? Accept difficult to make predictions until a better feel for duration understood but an indication of cash burn would be helpful after 80% government support factored in.

It is certainly a risky investment for investing now! For myself l invested a long time ago and agree with your comments re not being well run however they have been transforming the business in the last couple of years. I know a lot of people did not like the waga deal but it transformed the group profitability. My choice is to wait and see!

The £15m per month was pre 80% wages being underpinned by UK government so cash burn should be lower. An update re this and discussions with landlords would be welcome. Places for entertainment and eating will be required after this subsides no doubt about that although maybe not as many as previously which will be good for those who survive and hopefully RTN will be one of them.

AA cash reduced from £30.7m to £25.9 in last 6 months is my reading of cashflow statement.

Cashflow statement, £2.5m tax paid and £2.5m exploration expenses are main reasons.