Member Info for devonplay

Mike Ashley keep on referring to his 30% stake as if it is still a live shareholding?
- it may still be a holding in Debenhams PLC, but that company has not assets. So he's technically a DISSENTING shareholder, in the PLC buisness, not the owners of the company trading as Debenhams owned by Celline 1
Got it?
Dissenters are strictly shareholders who have a holding a business, who could expect a legitimate payment from the company, but they also more broadly shareholders who haven't accepted an action of a Board and are unwilling to surrender their shares or rights, once a company is dissolved their rights in absolute terms disappear and their only courseof action is via the courts - usually against the Directors.
We've been thought that, and as far I understand it, Debenhams PLC has been de-listed, struck off companies house and is being dissolved - if it already hasn't. Dissenters don't have to accpet any of that, but they have limited recourse.

No, it's very simple.
Debehmans PLC had creditors
Some of those creditors formed a SPV (special purpose vehicle ( a company)0 and excercised their rights to take over the assest of Debenhams. They became shareholders of Celine 1
Debenhams PLC basically dissolves.
Celine 1 has creditors.
- in many cases the same creditors.
Celine 1 gets into trouble, becomes insolvement and it's assest gets sold off to pay it's creditors.
THE CREDITOR WERE NOT SHAREHOLDER OF CELINE 1, so Celine 1 insolvency doesn't mean they give up their right.
Some of the creditors converted their debt to equity, but not all of them. I still own some of the Debenhams fixed income debt, that is now secure on Celine 1, but with was originally secure by Debenhams PLC.
- it may still be a holding in Debenhams PLC, but that company has not assets. So he's technically a DISSENTING shareholder, in the PLC buisness, not the owners of the company trading as Debenhams owned by Celline 1
Got it?

" Mike Ashely appears to be the only game in town. Can he use his 30% shareholding still to enable him to purchase DEB cheaper? "
- that's a holding in a liqidated company that's been struck off, I posted the notices here, so he doesn't have any holding in the business now trading as Debenhams. As has been discussed over and over again, Debenhams is owned by Celine, a special purpose vehicle created by the former secured creditors of Debenhams PLC - MA doesn't have any shareholding in that business. It's owned by a collection of banks and hedge funds. Debenhams PLC has no assest, no holding in the trading business Debenhams or Celine 1. So no, as it's a seperate, it won't help him (or any one else!).

> #Auto sales -4.5% in Nov to 15.6mn (saar). After 5 consecutive months of gains, sales have declined in last 2 months
> 7% below re-#COVID19 levels
> Early indication of a contraction in consumer spending in November
- hot off my terminal, looks bad news for oil and consumer stocks. Escpecially discretionary spending. Roll on end 21/early 22 when we might start to see a little normality according to the BofE.

"This must be doubly positive for SG."
- but, won't that also mean they'll be losing all those pandemic "young" new collectors that you've been toting since March, the ones that would boost sales...push the company into the black and even mean a dividend...except that didn't happen did it.... so we are now back to the old folk.
So the online growth is now over and we are back to the old timers in the shop...!
- DOUBLY NEGATIVE - losing the 'youngsters ' and reliant on diminishing crowd of geriatics.
I'm suprised you haven't used Brexit yet for a reason to make your SGI investment profitable;
Now we are a sovereign county fishermen will be able to benefit from the vast majority of fish caught in British waters, they will undoubtedly not be spending money on extending their fisherman cottage and buying shoes for the kiddies, but will be rushing to take up the hobby with their new found wealth which will be very positive indeed for SG.
- all smells a bit fishy to me, like your scraping the bottom of the fish barrel to encourage people to buy SGI and make you some money LOL
Could we have some evidence rather than wild, usually inaccurate, statements about SGI's future.

LOL nah, I prefer facts over fantasy.

"Time to buy some stamps"
Don't you usually encourge people to buy stocks? LOL

Back in the real world:
Big Oil Pays for Past Bets on Fossil Fuels With $70 Billion Hit
https://www.bnnbloomberg.ca/big-oil-pays-for-past-bets-on-fossil-fuels-with-70-billion-hit-1.1530122
(Bloomberg) -- Exxon Mobil Corp.’s impending writedown of natural gas fields rounds out a record year for Big Oil charg eoffs stemming from misplaced optimism on the future of fossil fuels.....(Bloomberg) -- Exxon Mobil Corp.’s impending writedown of natural gas fields rounds out a record year for Big Oil chargeoffs stemming from misplaced optimism on the future of fossil fuels. Yikes.

"And the vaccine has been approved."
I thought you said it was the lockdown that was going to drive those diminishing sales? Confused-dot-com.

Decent price increase today on a decent report.
I used to always buy VCT's 2nd hand during periods of stress, it's not quite the game it was, but things move on!
Holders would divorce and sell the family silver before giving up their VCT holding, so when they did there was plenty of discounts to be had...alongside the income tax free cash flow. Not quite the same, but you can;t sniff at todays move.

"In case any of you are wondering, he’s cursing us on SGI since he lost the short position on PMO" Pearly one LOL

LOL you haven't picked up this one as well have you hahaha

Not this thead John, some of the more active threads. LOL

"There was come sort of commission deal"
Yes, I'm struggling to remember, but wasn't it initially stock that was owned by SG and they transfered it to Pheonix as security.
Yeah, I don't disagree. Glory days are behind it. I see Pearls has moved on to PMO...speaking about glory days of past.
Another very worrying stock in my mind. They are all convinced it's worth $5b, City see it's more like 2, and in the worst case, if you applying Enquest level discounts, 1.8b.... and an implied share price of 8-10p. What could possibly go wrong!

My pleasure John, it's a good site with good posters. None of the nonsenses you get on here.

"I also see that of the much touted new stock bought in sept 2018 for £5.2m, £4.29m remain unsold by Sept 2020. In fact they only sold £100,000 in all of 2020. In Feb 2020 Sg bought in 780 new items under a lease agreement afor 1.07m all are unsold."
- wasn't that stock they acquired from Pheonix? They aren't every going to need a dividend...they've already got a cash cow.

https://www.fixedincomeinvestor.co.uk/x/forum.html#/discussion/315/rea-holdings-prefs
- lots of present and past comments, and links to recent "Evil" comments of the company.

So now we know, what the market thinks.....

From today's Hana Interims:
"Undoubtedly the exposure to Brazil has weighed heavily on the Fund in recent years, but with Wilson Sons now accounting for under 10% of NAV we view this as unwarranted in light of the quality of the assets held within the other silos. As noted before the current discount, at 35.5% and 45.8% if we include the discount at Oceans Wilson Holdings looks distinctly unjustified and Wilson Sons is arguably 'in for free'! Ultimately whilst Brazil is highly cyclical we would see the holding in Wilson Sons as providing additional leverage to the Fund as the country exits a multi-year recession and the challenges of Covid-19 start to recede into the background."
- in for free, I have to say I dont disagree. Brazil is a cyclical play, but having any asset that's undervalued, or free, is the best place to be. I just takes time and a bit of luck!

you can simply see how interesting this to "institutional investors" by looking at the last time an RNS was issued for:
NOTIFICATION OF MAJOR HOLDINGS
It was April 2020, Lombard Odier Asset Management (Europe) Limited, they reduced their holding by over 50% - yes REDUCED!
- all these "institutional investors" who want to build stakes of less than 3% in a company with a market cap of less than £17million.
Just nonsense.