Member Info for devonplay

"The company, with market capitalisation of around 162 million pounds ($209 million) on Tuesday and net debt of just under $2 billion"
Reuters Reporting "The Chrysaor talks have not touched on the possibility of Chrysaor acquiring Premier, according to banking sources close to the process."

"they have no defence, banks and creditors have all the power here."
PMO ORB debt up slightly on the news, but still trading well under par.
https://www.londonstockexchange.com/stock/PMO1/premier-oil-plc/company-page
YTM 44.371%
Running yield 8,5%
Online trading is available in the debt, Minimum initial investment: £100.00

Result of the AGM today, almost 10% down on news!
Unless it was the return of Pearls that spooked the market?! LOL
"trend developing"...if today is an indication...a downward trend! Good to have you back!

No Pearls of wisdom for ages, maybe a level down and then a quick dash for the exit...

Added to my long in the debt , Saga 3.375% 2024, yield (YTM) just under 9% will do me. New capital always helps :)
More first line pain, in the way of shareholder buffer, bond sits at the top level of the cap. structure.. Also bought some back in April @75% of par. I remain positive, but not bullish.
Long term loan and RCF dues before the '24 ship load. On the face of it, they'll have the long term loan in cash by the end of the month.

"The secured bond pays 7.625% on £230M every 6 months so that is destroying shareholder value by 2.425% p.a. (5.2%-7.625%) on £230M."
I hold the Bond - 7.625% '24 -that's why I posted the negative Moody update of the 18th. There's been a lot froth this this morning, but the put look remains challenged. I haven't look as the change of conrol provision in the bond, but I'm sure there is one, which would likely force an acquirer to make an offe, at par to holders .
The bonds are listed on Lux X if anyone is interested.

Forget the froth:
Amigo Luxembourg S.A. -- Moody's downgrades Amigo's Corporate Family Rating and backed senior secured debt ratings to B3 and changes the outlook to negative
https://www.moodys.com/page/viewresearchdoc.aspx?docid=PR_430265&cid=7QFRKQSZE021

www.propertyweek.com/finance/intu-sgs-confirms-agreement-of-range-of-financial-measures-to-protect-it-from-default/5109754.article

I bought some the Wagamama 4.125% '22 debt. At over 8% YTM, looks a reasonable bet.

% of British population describing themselves as British Chinese......wait for the drum role...........
............. 0.7%
On that basis they are going to need to be keen LOL
The whole demographic you've hung SGI's future on ,under 3% of the population.
That's the total percentage, so the percentage that's likeley to be collectos is anyone's guess. Maybe under 1%?
Not that's too generous. There's no way 1 in 3 people collect stamps. Perhaps more like 0.1%
Let's hope they are keen. It's a very small number.

"Pearls, I am glad to see a bit more realism in your posts."
It didn't last long hahahaha
Takeover, large dividend income stream, larger purchases BUY, BUY, BUY
It's always good for a laugh round here....I'm starting to wonder if it's a parody account.
What about Big Mike? Maybe he could start shifting stamps alongside football kit?

"I'd suggest a large dividend stream of payments in due course"
LOL you've always got a cracker!
Why would they do that when they are also the debt holder? They can just get 100% of the income by servicing the ever increasing debt pile. LOL
Now the debt is heading towards X2 the market cap. Baiscally, that means the listed equity, they don't hold, is irrelevant.
They are hardly going to start offering external holders something when the business is a subsidiary.
"I don't want you to get too excited Devon."
Hardly exciting is it; underperformed the market, no income, and debt X2 the market cap.
At the end of the day the results have 0 impact on the cap.
As far as 2.5 goes, there's greater risk of downside than upside potential as far as I'm concerned.
Plenty of time to consider, you are appear the only one in a rush.....
Eyes down for more "news" in October....may debt closer to £20m then?

That's pretty much my take on it Carpe- 5-10 years. That gives plenty of scope for waiting.
As far as averaging down, I'd prefer to put my capital to work where:
there's an income stream
or
a chance of short term recovery.
Neither here as far as I'm concerned. That of course doesn't mean I think it's uninvestible. I do, if you have a long term horizon.

Yep, market reacted strongly to the numbers with a real vote of confidence.
0% change
But the spread did increase to 25%, Ouch. At least that's a positive number, you don't get many of those from SGI.Agreed:
Looks like it's stabalised under 3p for the foreseeable future.
Hopes now fixed on October, how much extra debt will they take on then? There's already £2.7m more than the last report and they've already said it's likey they'll take on more.
Come on October! We've been on a cliff edge of hope every report...another one won't can't hurt!
-40% YTD return according the the LSE (the proper one).
Clearly there's life. Yeah, there's life Jim......But not as we know it! hahahahah

More debt, net asset per share cratered. And no profit.
As I've been saying for a long time, back in the bottom draw and check if it's still alive in a few years time.
The outlook...more debt to come. Recovery, it can take a very very very long time to turn a company round.
Still, if you've avergaed down, you might see a return on your money in a few years time. How many years, or whuch decade, might be the question.

" price going up markedly"
Now down 6%.
Deadly indeed.

" price going up markedly"
down 3% today.
Delusional optimist more like LOL

" price going up markedly"
down 6% today.
Maybe people don't like the decor? SGI just keeps giving...laughs! hahaha

" I can only see the price going up markedly as the message begins to filter through."
Hahaha ever the optimist. Haven't you been expecting that for a few years now?
If it does, then it will be bucking the trend you spent the last few months on....the importance of online.
Maybe the refurb of 399 was a glorious waste of shareholder funds? Did they finance it with more debt to themselves?

"Where’s those annual results?"
Welcome back! You haven't missed much. Still Under 3p, No Report and No Momentum.
We've covered that off, expect them late summer, early Autumn. That's another thing than never changes....
Your optimism in SGI, and it's failure to live up to it! Hahaha
It's been so long I thought you'd managed to level down and make an exit. Good luck for 2021.