Member Info for devonplay

Added the debt to my portfolio, slighly over par.
Co. is committed to the div. but that at least gives debt holder so wiggle room - it can always be cut.
Centrica looks more attractive at the moment, debt, I hold both equity and debt in it.
I look forward to following SSE's future and this board.

I may be on the otherside of that trade Carpe.
I've been slowly accumulating exposure (both equity and debt) on a selective basis in those areas.
Just not SGI.
I think there's a good chance of a decent recoveryduring late '21.
I'm just not sure until then there's going to be anything happening here.
I'm happy to "add" diversified, on a selective basis, income. Both listed and unlisted.
I added to a long position in TR Property this week,. I also bought short dated junk debt and I'm planning to look at a muni later this week ( long dated/3-4% yield). I've also got a development capital raise, for a nursing home, in mind.
If you look at UK gilts it suggests low rates for next cycle, so I'm not expecting any thing Herulean. The next 24 months might offer soemthing, the next 7 years could be very pedestrian indeed.

"Looks like the recovery is stalling anyway."

I hope some of them got out when it was 3p. It looks like another period of softness is on the horizon.

Still tumbleweed then. SGI looks set to miss out on the post-covid recovery.

Red (tsunami) today. Where have all the buyers gone....Again.

"your poetry sucks"
Not really my poetry. LOL You can blame Pete Seeger for the inspiration. "Where Have All the Flowers Gone?".... which has been recorded by lots of artists.
I think my sentiments are a accurate. I don't get the enthusiam for this stock, unless it's to dump a well underwater holding.
I do quite like a Sherry, if fact I'd go as far as saying I'm a modern enthusiast. Alas, I've only had a small wheat beer with my main meal of the day.
LOL that's it...I'm just waiting for the vertigo inducing V. now ;)
Pete also sang the Garden Song https://www.youtube.com/watch?v=DMTsIseGwHg
Best place to wait for SGI to recover is the garden. I'd go for something slow growing, you've got plenty of time on your hands! LOL

Red (tsunami) today. Where have all the buyers gone....

Where have all the buyers gone, long time passing?
Where have all the buyers gone, long time ago?
Where have all the buyers gone?
Old collectors have picked them everyone
Oh, when will they ever learn?
Oh, when will they ever learn?

Final Docuement is available now. Court case (Frazer Group) won't proceed if they didn't provide new evidence a week ago. I can't find anything suggesting they did, so it's very likely it's all over today.

I nearly got washed away in the tsunami of buyers ;)

"recent update indicates that this is what they’re experiencing." hahaha

Final Gazette dissolved following liquidation
(This document is being processed and will be available in 5 days.)
https://beta.companieshouse.gov.uk/company/05448421/filing-history

Dissolution date set for 02 July, I believe, after that day there can be no hope.
You never know, Big Mike may rescue everyone in the next few days! I'm sure he's working hard an behalf of the old Debenhams shareholders.....

More quotes;
"The nature of our business means that revenue generation is inherently volatile even under normal conditions."
So, it's not difficult knowing how they are getting on under non-normal conditions is it.
Enhanced volatility and uncertainty..
"too early to judge how sustainable these may be"
As ever there's no rush to buy SGI, just stick it back in the cupboard until 2021 at least.

"Why do you write negative comments about any new"
I'm just quoting them!
"extremely cautious about the short term future "
"sufficient liquidity for a further 4-5 months"
That sounds ominous to me.

" As a result we remain extremely cautious about the short term future and the impact the volatility has on our financial position. Nevertheless, from our experience over the last 3 months we expect our current cash balances to give us sufficient liquidity for a further 4-5 months from today without taking any further mitigating steps or drawing further on our remaining £2m debt facility."
Crunch point towards the end of the year?

"Chancellor dished out £billions in furlough to so many businesses but couldn't find any funds for intu"
I was under the impression that Intu made full use of the furlough scheme.

"Not doubting your words, but how do you know which asset management companies have been assigned to the centre's?"
I believe React Property news are reporting is. Specificallly David Hatcher, Editorial Director. It's wasstill on his Twitter (last time I checked) @hatcherdavid (10k followers)

"Devonplay
I agree with you..."
The Company once said it's debt structure was it's crowning jewel; as you could cut off a limb and rest of the body would survive.....and in reality it's ended up being it's a Achilles' heel. It's more like a centipede who's limbs want to go in different directions. I really don't think there's going to be anything left for shareholders. As I'm in one of the bonds, I'm wondering if there's going to be a recovery for me. I suspect much of that will have to do with how dominant any one holder is in my trance of the program.

"No...it is too late...that should have happened by now, and you also have the problem of the terms of the lending covenants across many centres"
You also have the porblem of there being different debt programs that have security against specific assets. That makes the whole process even more complex (in principal). You end up with the situation that debt secured against one asset might me more realisable than the next. That's why the Canadian's held out, they where secured against the largest and possibly most attractive site The assets securing the senior SGS structure also look capable of protecting those bond holder. Maybe that's what stops it returning. It's attractive for the debt holders, and each debt holder has a different objective. A diffferent stratgy to protect themselves and make a return. I can basically see the Canadian's taking their site and being happy and whoever wins over the SGS bond holders taking on their 4 sites in whatever structure works for them - with debt or without it. I can't see anyone wanting to pre-packing the whole entity, but I can see some secured lenders being willing to take over control from the assortment of SPV's controlled by PLC shareholders and then shuffling them off into the abyss.

What happens next:
https://www.egi.co.uk/news/intus-administration-what-happens-next/