Member Info for devonplay

Jennifer, I was under the impression it was secured debt, secured on the property, first lein basis I presume , so will transfer alongside the underlying properties that it's secured against.
There was a recent "corporate debt" held by the Cyprus company, I presume secured bank debt again. They also mention a £40m, loan that will be between RPG and the NewCo. alongside the preference shares they will own as their major asset.
It sounds like they've already got a deal done with the major shareholders. I more concerned about post deal and the potential of being consolidated out. Overall, it's not a great worry. I don't think they can do that with the pref. holding, RAVP.
RAV is around 0.25% of my portfolio, so not a great concern, RAVP around 1.25% - I would have preferred the combined holding to be/ less than 1%

"On this basis, I see this as now worth zero."
I don't but there's an increased risk that post de-list a share consolidation could take place. Shaking out smaller holders.
For Pref holders the interest accumulates in the background.

Will they transfer our shares to another company or what is going on ?
No you still hold shares in RPG, RPG has written a put option, an option to sell, it's Cyprus holding company shares to the Russian management team with the transfer of any monies back to RPG and holding £678m of prefs in those assets bearing a mixed range of coupons ranging from 8-15%.

"On Tuesday, traders offered Urals brent at a record discount of around $15 a barrel below the price of Brent - with the discount at one point hitting as much as $18.60 - and even then not finding buyers. A drop in the price of Espo, a grade of Russian crude popular in Asia, suggests refiners in Japan and South Korea are hitting pause on purchases alongside those in Europe and the U.S." ZeroHedge reported.
- I can't help wondering oil might be a place to be for hours or days, not for any longer, but we could see a horrible correction and collapse of the price?
I can quite easily see buyers, from Asia, just evaporating for stamps.
At the moment can there be many worse places to be than oil and depending of eastern consumers? Stamps really aren't any protections from inflation or volatility.
Some reports suggest that almost 70% of Russian oil can't find a buyer....
Maybe cyber security? With no signs of the crippling attack many were predicting, and even Nato saying they might consider an attack in that form as an Article 5 trigger, why not leave it to them to provide the cover and cost? After all, businesses don't buy tanks to protect themselves against T-72's.
We could get the correction of all time in stocks that some retail investors think are a one way bet.

"excellent purchase" LOL keeping telling your self that, 420 wasn't it? What's DARK today? Haven't you been calling HBR "hopeless" and didn't you tell us we'd never see lows beaten again at SGI?
Hahaha it's a kiss of death when you take a holding and encourage others buy..."strong buy"
Please let us know if you've got any more tips. Being short against them is profiltabe. Well it was with Debenhams anyway. ;)

"Pearls usually goes and reports back great news but nothing this time....lol"
Aha, I think Pearls has given up on "share of the year" and is now fighting a rear guard action on DARK, another 25% loser....
I'm going to have to short Pearls next recommendation. Instant 25% profit! :)

So we've reached the 2,2 of my 1,8-2,2 prediction. Given the state of the world, still best avoided.
Next question: how long to 1,8p?

Trade sale @ 2.0537 today. Not looking any better.

Trade sale @ 2.11 this morning. Not looking good.

LOL, no I'm just willing to do research. The Glassdoor comments I've mentioned before.
It sound like you are aware of some of the views of past employees. Generally very negative from what I remember.
LOL "explains my comments" well it would have saved you a lot of money. Like Debenhams. Did I also work there? :)

Just don't ask them about Glassdoor, terrible comments about working at SGI on the site.
I see DTY is down nearly 10% today, looks like the market has noticed the digital strategy has more holes than swiss cheese...SGI down 10% next?
If the staff had any idea of how to move the share price shouldn't they be buying? Bt no one is buying, it's just been sellers all week.
Still it could be worse, they could be way down on DARK ;)

If memory serves me well, they injected DTY & SGI assets into Castelnau Group (CGL), does this apparent concern they are going to /may breach the convenants on the B class debt instrument suggest the overall digital strategy isn't performing? From memory again, there was a larger RE positioning of DTY equity, presumably to offset the inherent risks is the burial game, falling expenditure, demographics . Now they are concerned about forward going business performance? There was me thinking Castelnau was going to play a part in offsetting that?
Another red flag for SGI?
Castelnau's performance has been less than stella YTD return 1.92%, with trading in the shares scant, barely enough to justify a listing. Besides the obvious benefits of fees and uploading.

Trading Update & Consent solicitation period - 10:30:06 17 Feb 2022 - DTY News article | London Stock Exchange
For the year ended 31 December 2021, the Board expects underlying operating profit to be c.£54.7 million (2020 restated(1): £60.3 million).
Whilst the Group's financial performance has delivered headroom in relation to financial covenants throughout the last 12 months, given the distorting impact of the pandemic on the timing of deaths, there remains significant uncertainty around the UK death rate in the near term. Therefore, the Board has taken the prudent decision to seek a temporary waiver of the above mentioned financial covenant on a precautionary basis in relation to Dignity Finance's debt obligations.
- more pressure on SGI to perform! If the rest of portfolio it having a tough time, is there's a risk they'll cut their loses here?
I year performance of SGI -22.44%

I don't think I've seen a buy in weeks. No one wants "share of the year...."

SGI faces "stiff" competition as OnlyFans discuss issuing their own NFT's....NSFW NFT's LOL

I agree Carpe, both about the uncertainty and impact of extraordinary injections of public capital into private assets. A bubble that could suck in the unwary. I remember 1999/2000!
It would be very unfortunate to find you'd coughed up, say 8 million, to ride the deflated bubble and then find your principal assets is worth much less than you bought if for. It's must surely stretch the credibility of the parent owner and make it's shareholders ask "why are you wasting time on this tiny back water company?" - a moment of pain for SGI's retail holders.

NFT marketplace shuts, citing 'rampant' fakes, plagiarism problem
LONDON, Feb 11 (Reuters) - The platform which sold an NFT of Jack Dorsey's first tweet for $2.9 million has halted transactions because people were selling tokens of content that did not belong to them, its founder said, calling this a "fundamental problem" in the fast-growing digital assets market.
https://www.reuters.com/business/finance/nft-marketplace-shuts-citing-rampant-fakes-plagiarism-problem-2022-02-11/
- I think serious consideration needs to be given to the impact on the original assets. Ol' Magenta was falling value before this, could the whole process of "fractions" make it fall deeper and faster? Has exclusive is it now? What's the impact on SGI's if that's the case? More write downs? If this bubble burst faster and harder, what for poor SGI then?

No problem Huhu. There's a large number of red flags with SGI. It's better to be aware of them.
I think you, and you friends, are very brave for having so much money invested in something so speculative. Red flags shouldn't stop anyone investing, but ignoring them can lead to a loss of capital.
You can now expect a bullish post from Pearls saying this will double or treble in value LOL

"I think the current share price is not really relevant to us, could it be that somone is interested to decresse the freefloat percentage slowly but steadily to stay under the rsdar? Would make sence since SG can not take the company off the exchange or can they?

"I think the current share price is not really relevant to us, could it be that somone is interested to decresse the freefloat percentage slowly but steadily to stay under the rsdar?"
As I mentioned the other day Huhu you are required to report any holding that goes above 3%, even if you are acting as a private individual. Its defined in all sorts of regulations and breach of it can be considered to be an unlawful act. Given the primacy of the major shareholder as both equity holder and creditor, there would be little point in trying to build an undisclosed stake as you would find it difficult to breach a point that stopped the main party reaching a critical 75% control in any battle if they chose to, and if you did, they could regain control by calling in the secured debt. Basically making the company insolvent and de-franchising it's shareholders.

"Would make sence since SG can not take the company off the exchange or can they?"
The primary shareholder, and main creditor, could in principle de-list the business at any point as it's technically in breach of it's debt covenants, so dependent on the goodwill for trading as a going concern. They could could de-list, de-franchise other shareholders easily with the confines of the Companies Act. Pearls understands that, as it happened to one of his other holdings. Pearls held equity, whilst I held secure debt that later converted in the new equity in a New Co.
Being a minority holder in a private business is a precarious place to be, I've been there in the past and found myself on the end of share consolidation, to the point that I was consolidated out of existence. I have around 80 shareholding in private businesses and it comes with similar protections to a listed company, but you might find you lack pre-emption right, drag and tag along rights, it they aren't enshrined in the Companies Article. What does that mean? Well the major shareholder can make all sorts of deals, including an exit and you don't participate. There's usually a lot less reporting as well. In answer to your question would it makes sense? Only if it does for the main shareholder, at a collective 2% you have rights, but in practical terms they are sub par to the secured creditors when a company is in breach of it's covenants.
Hope that helps.

Yikes! Down 4% today, I've always thought "share of the year" could touch 1.8 pence. This look like another step towards that.
Best avoided for the time being.