Member Info for devonplay

"Devon you are a complete and utter @r se hole"
They wonder why they lose money....it's always someone elses fault..

It's one of the issues we have to deal with as shareholders; moral and legal culpability are not the same.
In the same way pursuing the wrong strategy doesn't demonstrate illegal activity has taken place.
Commercial ventures fail everyday. Economist call it Schumpeter's gale. It's just a fact of capitalism.
Proving legal culpability can be an immense task, where as pursuing the wrong strategy eventually becomes self-evident.

"just got to try and remember there are a lot of investors remaining positive that don't post on here. This board can get the most positive of us down!"
Partially

"Part of my investment strategy with Sirius has always been to rely on information from the company. "
But did you ever listen to critics of the company?

( Ian Ashby)
A BHP long term employee, now retired, Non-Exec of AAL for the last few years.

"Leading up to this there was extensive “shorting” of the shares by numerous entities, which is supposedly an illegal practice."
Shorting isn't, but insider trading is.

"JPM pulled the plus"
Is that what you meant?

"PE Houses will be nervous about its evident capacity to consume cash."
PE Houses depend on debt, and we know how the tightly knitted debt market feels about this one don't we.

"devon, why are you here. you're clearly not invested in SXX and seem to be cheerleading for AAL. the new IBAB. Feck off."
LOL, becuase it's a public board and I have as much right to be here as you.
You don't think AAL might have got themselves a decent opportunity then?
I think you'll find less emotion makes for better investing over the long term :)

They've been very tactical in getting a decent price for a risky project. Intentionally or not, they are ringing the bell for last orders. Doing that at the late stages of the financial runway, feels like the optimium strategy for an acquirer - it's less messy than pulling it out of administration.

"RNS makes it clear that AAL have not purchased any shares....."
They've already destabilised it to a greater enought extent to either acquire it at the offer price or buy it through administration.
If the offer fails, and within the context of the Board saying Administration is likely, creditors will panic and the end could come swiftly.
Who will be waiting with open arms? AAL, hedgefunds or a combination of the two? Could AAL de-risk the project futher by bringing in higher alpha players? Maybe. Or could they just lower their costs by being the only party capable of providing creditors with the comfort of 'going concern' business continuity....

"If one were a sceptic" one would have taken the view that is was a very long shot indeed and avoided it until the risk capital had been provided and the business was throwing off cash.
I was short a few years ago and was waiting for a decent fixed income offer to come along, once the risky capital had done it's work ( or not). It doesn't look like I'll get that opportunity now, but you never know.

Is that ok?
Perfectly

"important UK asset in the hands of the US."
I believe it's a British company Beverley.

"I googled BOD duty of care to investors , interesting"
You should also Google Director's responsibilities to creditors.

"If we knew of An II or two counted for circa 7//10% I think that would be a massive comfort IMO
We need 26% to stop this if I'm correct That aal need 75% ???"
But you're Interpretation of this fits you own equity long narative, when there's potentially other ways they might be benefiting (when you won't be).
These aren't unsophisticed, buy it and hold players and it can be costly to think they are.

And doesn't that just scream....we've gone past the mark that private investors should play in this one...

Bloody hope so
The point is these are highly sophisticated market particpant who've invested in several forms of the companies capital. Trying to double guess them, is almost impossible, so I struggle to see how it offers much comfort. It remains the same conclusion for me.

I bet they've made money on the short, the bonds and now they are hoovering up the equity to take a fractional gain on the AA deal.
By the sound of it they've been all over this, seeing the opportunity to make money.
My first post holds, given the above, it can't see how it provides a crumb of comfort.
Just one more milking of a cash cow...

Polygon Global Partners "convertible bond strategy focuses on convertible securities"
Say no more.