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I feel for you thats 10k for me down the drain
Doesn't seem healthy to me to return to a message board after making a profit (x4 on your investment) and playing the opposite side of what you were 2 years ago
yeah i guess you're right. I remember him/her saying it was going up to £1.20 (which it did) and silence ? Guess the lad didnt take his own advice and crumbled
Oceanpassage i remember you were long in CINE ~2 years ago, what happened ?
Yeah you would assume the Institutional Investors would now pile in for the dividend. It worked out for the Board (they got rid of Coast Capital) and the SP increased past the tender, you are correct in that people got off the bus too early but with the history of Firstgroup its hard to blame them
"With a well-capitalised balance sheet and an operating model that supports our intention to begin regular dividends to shareholders within the next 12 months". That was said by the CEO sometime in Winter last year. I'm hoping there's some truth to his statement
The point of the dividend is to encourage long term investment , this isnt a growth stock unless you think the world of UK transport will be profitable for private companies. unfortunately im stuck in the 130s for this stock and this was when they had the crown jewels of the US business ... typical crap management to sell during a pandemic and after Biden decides to invest in US infrastructure
no matter what staff you have aslong as the CEO is still here FIrst will continue to be a below average stock. We are below the rights issue price ...says it all really ! At least the SAYE employees have an option to just walk away
interesting to see what all the offers were, article does make it sound like FGP are getting a bad deal ..which wouldn't surprise me given the fact they have been selling UK bus services/ depos at a discount !
Well not likely they will call it a firesale, but the sale of the NA assets is currently on hold until they sort out the contracts. What we do know is the NA assets have to be sold by 2022 , if not they will face a fine. Lets be honest the Board & Management have been rubbish for the past 10 years. Too much uncertainty with all the divisions . The absolute worst time we have seen as a long term shareholder.
You really just need to see the recent RNS ... why would Dan Hall a close friend to the chairman . Which they own a racehorse together buy 41k of stock ... it’s going to boom upon entering they sell the NA assets whatever small amount they get . Will take years to reach triple digit but for a pint now it’s worth it
They valued the sale of the NA Assets to be around USD 4 Billion but that was before covid restrictions . I wouldn’t hold my breath on a sale as the greyhound sale has been over 2 years. Crap CEO , decent Chairman , worth the risk at this SP . Been holding this stock since 2012, it’s akin to actually taking the bus from London to Russia
Very smart choice in hindsight, I am somewhat optimistic that David Martin the new Chairman is onboard, his Arriva turnaround as CEO during the 2008 crisis is inspirational. Matthew Gregorys tenure as CFO the SP started at ~ 80p and eventually went high of ~150p, His tenure as CEO started at ~80p with a high of ~133p . Is he really delivering shareholder value like he says he does or was he just signing a lot of high risk revenue contracts to up his then bonus.