Member Info for devonplay

LOL...you mean they are leaking profits again?

Afternoon John, I thought I'd check in. I still see people on Fixed Income Forum and Lemon Fool talking abut the merits, and risks, of the prefs. I understand they've had quite the rally. My illiquid postion in the Sterling Bonds isn't keeping awake at might and they continue paying the coupon, so all must be good in the world!

I alsomost expect you'll be telling me the merits of PMO next ;)

I collect profits Pearls. I'm a full time private investor. I don't collect coins or stamps but I accumulate rounds, mainly silver at the moment, but also bars.
Different perspective? LOL you mean one not based on reality hahaha
I doubt it will be my biggest winner by a country mile.....LOL I've had an exit on an unlisted company (x13) this month. I was only invested for 18 months. I've yet to sort out the tax implications, but it's a decent return either way.

"3 Nov '20 Please bring them out today if possible"
Good you've cleared that up Pearls ;)
Make an investment? I already have, it's my biggest lose ever. Hey ho, so is the way of SGI.

On the face of it, I'd agreed. You appear to get the Brazilian business for next to nothing!
"At 30 September 2020, the investment portfolio including cash under management amounted to US$281.8 million (30 June 2020: US$267.7 million). The investment portfolio represents US$7.94(£6.11) per Ocean Wilsons share. At 31 October 2020, the investment portfolio including cash under management amounted to US$280.6 million."
The company has been around for the best part of a century and it's a dominant player with long standing shareholders. It's not without risk, but I always thinks it worth buying in periods like this. Deep value is the term that comes to mind.

Still no move up or report. Even Pearls appear to have given up on it.

Could SGI be one of those counter trend stocks? As the market recovers....it declines?

Sea of blue everywhere else!

"I thought it might be another extension due to the uncertainty around POO "
I don't get how you reach that conclusion? You think creditors would give the Co. an extension because of MORE uncertainty?
- when they've driven this deal to get free of PMO and all it's uncertainty. I guess we all have an different idea of what's going on.

Thank you for your kind reply Mr Fugu, plenty of time to rest now. No Prospectus for weeks, No deal for months.
Yasumu Mr Fugu.

This mornings RNS may explain why they are delayed.
In small teams the Co Sec plays a big part in the day to day corporate operations.

"creditors look to be on board."
Its a rescue, they were always likely to be onboard! LOL They put the deal together after all!!
What's good news is the cov's wont be tested every few weeks and the creditors have been able to move forward as a group. Fragmentation would have been a nightmare for the company. That's been avoided. Otherwise, nothing new here!

"Fugu fears that the SP you will get when the newco is done is approx. the SP you see today."
Before or after consolidation?

Yeah, it looks like it's the 3rd, it's been revised between the last Stable Agreement RNS and the Proposed Merger RNS.

No sweat

No sweat.

Premier Oil plc
"Premier" or the "Group"
Stable Platform Agreement extended
1 October 2020
"Premier's creditors have approved an extension to the previously announced Stable Platform Agreement with the Group's financial covenants waived through to 5 November 2020. Discussions continue relating to the proposed refinancing and possible alternative transactions."

"Anyone got any sensible reasons for this? "
It's a rescue deal Pearls, they couldn't refinance, so they've been rescued by an opportunist which also has a healthy debt pile.
We know all about debt don't we?

"Can only hope SG report excellent internet sales tomorrow in their update."
And if this hasn't been the time. will it ever be? !!!