Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
You seem a little too desperate to try and put a downer on this share Steve. If you are invested and have genuine concerns then go ahead and express them but do it properly and reasonably.
If not invested then we don't need your crystal ball which seems to be permanently cloudy.
Banxy this open offer deal is mainly to benefit Dbay as the largest shareholder and depending what they've got lined up there might be value buying at this price.. depends what you value the whole package as after the deal is done.
I wonder if LSE can disassociate the chat from the previous company from what is now TIME Finance (ex 1PM)..
Yes, for sure. The name change is just for this listed investment company that holds 49% of Eddie Stobart as its main investment.
On a brighter note they forecast EBITA of over £33M for y/e November 2020.
I guess it all depends what you think our 49% interest in ESL is worth...
At the IPO it was around £60M
At todays SP around £35M
Take into account the £15M cash they expect from the placing & offer and the new volume of shares (702b) along with the prospects for ESL & logistics in general..
According to the RNS today, presumably moved to :-
"Shareholder approval is being sought for the Resolutions at the General Meeting which is being convened for 11.00 a.m. on 29 December 2020 at the offices of King & Spalding, 125 Old Broad Street, London EC2N 1AR."
Those are exact dates & times - you can see them under the heading (part of the offer details further on in the RNS)
"EXPECTED TIMETABLE OF PRINCIPAL EVENTS"
Actually I can see there is an ex-entitlement date of today (08:00; 9th Dec). So any I sold yesterday won't count towards the open offer but any I sell today would count?
So if the record date for the open offer is 7th December (6pm)... I could now sell 10000 shares for around 9p and yet stil have them count towards the offer of 37 for every 100.. i.e. I would be entitiled to buy back 3700 at 5p?
Hello Nick,
ESL as listed here on AIM used to be the Eddie Stobart Logistics trucking company (plus various acquisitions they made)
They were doing well and paid handsome dividends and the share price was over 120p.
A mysterious and unexplained slide in the share price to 70p was eventually revealed to be because of some dodgy accounting by a dodgy accountant (hence the ongoing FCR investigation into the relevant audits).
The shares were suspended pending a check on the accounts.
A new dodgy accountant revealed some slight anomalies and crucially decided that some property leasing details should be accounted for differently.
Bizarrely the company suddenly needed a large chunk of cash to keep operating (they hadn't needed this the week before so you would have to ask the dodgy accountant about it).
Although there was serious interest in helping/buying/merging from other parties, DBay in collusion with the clueless ESL board, managed to steal the company (sorry, lend them some cash).
The share was un-suspended and magically the 70p SP had turned into 6p and our beloved trucking company was now just a cash shell with a 49% interest in Eddie Stobart. (6p not 34p because of the new accounting debt and the Dbay PIK loan)
December 9th is D-day
To be fair, Truth is only telling the truth, it's impossible to tell what the outcome may be or what the prospects are for anyone buying or hoding.. although it's a given that DBay will do well out of it.
At what point do the company have to issue a statement on the share price movement?
Be good to get the news or a bare faced lie about 'we know of no reason'
The June 2020 accounts show net positive assets of £240m (having accounted for any & all borrowings)
It's impossible to tell these days because despite all the regulations it still depends on the accountant and which magic wand he is waving at the time.
If GIS holds 8% of Inspirit Energy stock does that mean we should benefit from the rise in their stock today?
Revenue up, Profit up, Cash up..
Dividend happily received over the past few years.
Figures double checked.
Revenue = 3.5 billion, Net Debt = 310 million so it's under 10%.. they've always run with debt as many companies do. Year end debt was in the hundreds of millions when they were paying dividends. Of course it would be great to reduce it and hopefully that will happen this coming year with the 100 million of annual savings..
Unlikely to see a company the size of Kier issue RNS for contract wins.. check the Kier website or other periodicals for those details.
Debt less than 10% of revenue. Free cash flow £66M. Yes we will have to wait for 2021 figures to see whether the stress has all been worth it.
Imperial Tobacco can pay divis while carrying bigger debt ratio so all is not lost here at Kier. Everyone must do their own research and make their own mind up.
Nice upbeat RNS today.. will be great if they manage to pay the deferred dividend. Net Tangible Assets + Cash standing at 2 times the Mcap gives me a lot of comfort.