No need eddie, I've posted here on ESL for a couple of years now (unlike you) and I'm very painfully aware of the situation the company is now in. At these low prices it could well be worth an investment.. but for those holders from before the dodgy accounting disaster.. yes there is still a bitter taste.. I truly hope ESL does well and keeps on rising.. and in the meantime I might scramble around trading it in order to reduce my overall average.
Who: Is all the day traders that are all over this like flies. Why: Because this isn't Eddie Stobbart anymore, it's a cash shell that now owns less than half of ESL and ESL has been lumbered with an extortionate loan by Dbay.
"We maintain our commitment to paying the dividend of 2.75 pence per share during 2020, as previously announced. However, given the current uncertainties in the global economy, the Board has decided to postpone these dividend payments until the macro environment becomes clearer."
"The directors will therefore recommend a final dividend for the year ended 31 May 2018 of 0.65p per share, which is a 30% increase over the previous year. Thereafter, the board will continue to recommend a 30% annual increase in dividends during the three-year period ending 31 May 2021."
Consolidating on market gains made isn't so bad especially if they keep to the previously declared dividend policy which has 2 more accounting years to run. This isn't dependant on growth but we all hope they can achieve that too.
Their Blackwoods Vintage Gin is a quality product, it just doesn't have any artificial colours or daft flavouring which is all the rage.. but it is top quality and it will still be there when the current fad passes. I would like to see their Blavod Black Vodka pushed in the UK, it does well in Eastern Europe and certain Duty Free's..
Along with RedLeg Spiced Rum, they have 3 decent 'brands' and they aren't burning cash.. they are ahead of last year and should still have around a million in cash at year end.
Are there any details available of the TVFB offer/plan? I don't like the way ESL Board are squirming and seem desperate to force the Dbay deal... if there is an alternative it should be put to shareholders (regardless of who says it is or isn't viable).. With what's happened, I can hardly trust the ESL board to make the right business decision etc!!
I think Redde should have issued a statement similar to the one Centamin issued today.. Our cash flow and divi combining with Northgate debt means we should be valued higher than 46%. I see some business benefits but I wonder if the Redde board members salaries will be restricted to 46% value of combined board etc..