Member Info for E_AL

Someone made a very interesting comment on my post but on twitter:

"INTUPROPERTIES

Now all the after hours big buys make sense #Shortsqueeze

Latest short interest update(Thur 5/03)shows Citadel &GSA closing 0.05% = 66,750,000 shares

#INTU Daytime BUY Vols after Wed sp drop:

Wed 25.5M
Thur 11.7M

-Total: 37.2M
Shorts closed 66.7M

*Friday 8.7M

https://twitter.com/JohnAnderson_10/status/1236252688700116992 "

Citadel Advisors LLC 0.61% to 0.59% (-0.02%)

GSA Capital Partners LLP 0.50% to 0.47% (-0.03%)

Many of the locations of Intu’s biggest assets are city centres or out-of-town with parking. Both, one might think, would be suitable for homes.

It’s not that major shopping centres will no longer exist, but it’s certainly the case that as online shopping grows further, such centres will no longer need to be as large; landlords like Intu will have to diversify, accepting other uses on their sites.

Councils, too, which in the past have measured success partly by their ability to attract big name occupiers to gleaming shopping centres, will be obliged to reshape their strategies.

What’s wrong with a mix of housing and large stores on a site like Bluewater or the Trafford Centre? A few in-town modern centres - Exeter’s Princesshay, for example - do exactly that, albeit on a much smaller scale.

Expect more of that in the near future, as soon as the retail landlord mindset eventually catches up with new consumer shopping habits.

When change comes it will help those landlords out of a fix and assist residential developers find new large-scale sites - a win-win that could finally resolve a problem that’s bedevilled the country in recent years!

I am expecting INTU's share price to see some recovery next week if Chancellor Sunak scraps business rates in favour of a land tax.

"Chancellor to announce review of business rates in budget, mulls scrapping them in favour of landlords paying tax on land value"

"Sunak promised “firm action” to support companies, public and government services alike in a statement on Monday.

https://smallbusiness.co.uk/chancellor-rishi-sunak-may-scrap-business-rates-in-favour-of-a-land-tax-2549628/

“We are well prepared for this global threat and, as the wider economic picture becomes clearer, we stand ready to announce further support where needed.”

https://www.cityam.com/budget-should-include-hardship-fund-says-british-chambers-of-commerce-chief/

6th of March - Green light for £250m water wellbeing centre in Manchester.

Trafford Council planners have given the green light to build the UK’s first city-based wellbeing resort in Manchester.

The £250m Therme Manchester scheme will combine hundreds of water-based activities with wellbeing treatments, art, nature and technology to create a unique experience forecast to attract up to two million visitors per year.

Backer Therme Group hopes to open the 28-acre resort in 2023.

It will be built opposite intu Trafford Centre next to Barton Square, with a Metrolink station directly outside.

EventCity, which currently occupies part of the site, will be relocated and redeveloped as an events venue in TraffordCity.

Therme Manchester’s natural environment, with thousands of plants and trees, will be “created by world-leading designers, artists, architects and engineers to achieve the highest levels of experience, quality and sustainability.”

The heart of the project is a two-acre wellbeing garden in the shape of a Rose.

A large family zone will include waterslides, a wave pool, indoor and outdoor pools and steam rooms.

A dedicated adults’ area will have warm-water lagoons among spectacular botanical gardens, swim-up bars, therapeutic mineral baths and steam rooms and saunas.

Stelian Iacob, Senior Vice President of Therme Group Worldwide and CEO of Therme Group UK, said: “We are delighted that planning has been approved so we can bring the UK’s first Therme Group city wellbeing resort to Manchester.

“This will transform life for city residents and people further afield, creating a fun and accessible experience with profound health and wellbeing benefits for all.”

James Whittaker, Peel L&P Group Development Director, added: “The creation of Therme Manchester will bring an accessible, yet world class health and wellbeing attraction to the people of Greater Manchester and beyond.

“It will transform TraffordCity, bring fantastic employment opportunities as well as bolster the regional economy including tourism and be a key contributor to the Northern Powerhouse.”

https://www.constructionenquirer.com/2020/03/06/green-light-for-250m-manchester-water-park-and-wellbeing-centre/

67amg , covenants are tested at six monthly intervals with the next test for Intu coming in July so they have 4 more months to sort this out & any hint of sale's negotiation will have reflect positively on the depressed share price.

I topped up again this morning.

4th one :

16:22:41
5.342
2,000,000
£106.84k

Check the times of the transactions and sp - 100% buys

Very likely mate, someone seems to be loading up in bulk:

16:04:20
6.198
1,200,000
£74.38k

16:04:23
6.198
1,200,000
£74.38k

15:32:11
5.533
1,478,636
£81.81k

Nice chunky buys taking advantage of the poor sentiment.

15:32:11
5.533
1,478,636
£81.81k

Intu makes repayments across several loans to avert LTV covenant breaches- Thu 5 March 2020

[Intu has avoided breaching loan-to-value (LTV) covenants on a number of loans after making partial repayments in recent weeks]

https://www.propertyweek.com/finance/intu-makes-repayments-across-several-loans-to-avert-ltv-covenant-breaches/5106721.article

Absolutely agree Scoutt, its a good trade for bottom feeders at this level:

"*Key takeaways from this fascinating interview:
*Pushpin First thing to sort is raising enough cash to cover at least 10% fall in values come end of June
*Pushpin No debt traded to distressed buyers as far as intu is aware

Exclusive interview: Q+A - intu’s Roberts on asset sales, restructuring and the path ahead
Pushpin No mandate given or processes live for any asset sales

https://twitter.com/hatcherdavid/status/1235231578051219456"

From today's RNS: "intu is today providing a trading update on its position at the end of 2019 together with guidance for 2020. It intends to publish its audited preliminary results announcement on Thursday 12 March 2020."

So results out next Thursday not tomorrow.

it will climb back up before closing ;)

Lucky you !

"it feels like they are releasing this to draw a line under the whole saga; before they embark on the next major move which may be very positive...."

I can't agree more with this statement :)

According to Lekoil, 2nd Oil lifting from Otakikpo should take place by no later than next Tuesday (It could have already taken place by now). I am expecting a couple of positive updates to drop anytime shortly (7M USD payment, appointment of the new CFO, 2nd oil lifting, March repayment, etc)

A research from twitter:

EddieStobart confirmed DBAY has injected £55M worth of new financing the company following an uncertain few months.

ESL Shareholders voted through the DBAY deal by “an overwhelming” 80.76%

DBAY is holding a big chunk of the company’s shares @ 32p/share

Current sp 10.5p

**DBAY - ESL equity purchases:

5.07% = 07/05/2019 Between 91p-£1. I will use 95p as an average At 95p they purchased 19,232,911 shares £18,271,265 paid

10.11% = 18/06/2019 Between 67-76p. I will use 71p as average At 71p purchased 19,119,107 shares £13,574,566 paid

27.10% = 28/11/2019 At 6p which everyone is saying they purchased 64,451,118 shares £3,867,067 paid

29.9% = 02/12/2019 At 6p which everyone is saying they purchased 10,621,726 shares £637,303 paid

Total shares: 113,424,862 Total paid: £36,800,201
DBAYS AVERAGE APPROX = 32p!!!!!

It looks like Miton Asset Management is out as well :)

https://twitter.com/naim_aim96/status/1233367036513918977

RSI 7.8% ..........

People made 100-200% profit since yesterday selling, stop loss triggered, II selling.

Saying that, sp is extremely oversold, PIs and god knows who buying in bulk (£110K, £240K earlier and chunky buys from yesterday reported earlier as well).

SP should bounce soon