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Yes good day so far Wonder how far this will go before the good news ........ The SP is still massively undervalued, no risk - just opportunity now in my view.......... GLA
Thanks both - interesting comments. I guess the only winners will be the lawyers I think Interserve went wrong by taking on the processing risk in a sector they didn't understand, rather than just the construction risk which they were used to doing. I understand they put all their eggs in one basket by partnering with a sector specialist that went bump. Naive at best, but really negligent on behalf of the Board at that time who signed off the EfW Contracts. Interseve have already taken massive losses on the EfW Contracts. Very Harsh on the Employees who have been and will soon be made redundant - Pennon employ circa 5000 employees, Interserve employee 80,000 (20,000 in the UK) and will probably now have to lose circa 5000 due to this serious error of judgement. It will be interesting to see if Interserve make a statement about this on Monday when publishing their annual 2017 financials. It will also be interesting to see if Pennon will want to see Interserve punished further........
Hi mbingo check out http://www.shortics.com/snapshot.php?company=INTERSERVE%20PLC Not sure it is totally accurate, but importantly the graph gives a good idea of which way the % short is going! All looking positive.
Trying to break through 90p Guess the shorters are having to buy back in or they will get caught out!
If PENNON have over-exaggerated their chances of recovering significant monies from Interserve as they indicated in their recent financial statement. And if this is shown to be the situation on Monday, then what are peoples views on the level of the affect on the SP?
Great post KingArthur, I agree with your comments, the Market doesn't like uncertainty and on Monday, finally the significant uncertainty will be gone. Be interesting to see if FOMO kicks in following the confirmation of the financing legals being signed on Thursday./ Friday. It would be good to finally confirm to the market that the EfW liability was and is now fully accounted for. I would also like to see IRV putting a statement out in the 2017 results that slaps down Pennon for their recent statement in their annual report. IRV is the most independently audited FM / Construction company in the UK by far - this certainty following Monday should attract significant investment. If you are going to invest in these sectors, there will be far more risk in all other companies, who haven't had to go through the same level of scrutiny. I also understand that the next Phase of Cost Cutting is now underway and there will be significant consolidation across the Group - it will be interesting to hear what level of efficiency savings are forecast to reduce the level of debt. All very positive for the SP.
Among 5 analysts covering Interserve PLC (LON:IRV), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Interserve PLC has GBX 180 highest and . GBX 133.80�s average target is 56.45% above currents GBX 85.5249 stock price
Aendjo - a very good logical post by you. Ignore Meta84, he is just being his usual sarcastic self - he seems to get a weird kick out of it. He hates to see anyone posting a well balance view - if it's positive. All his previous posts have been the same very negative or sarcastic - could be a disgruntled ex employee who has an axe to grind...... On a more positive note - I am looking forward to the announcement and results this week and seeing the SP move upwards GLA
If it keeps moving upwards at this rate today then there will be a short squeeze If so could reach �1 fairly quickly News must be getting out regarding strategic sell off's - significant reduction of debt?
Think news will come out shortly on sell-offs of parts of none core business SP could rise ahead of release of end of year results and re-finance finalisation
Meta 89 - you are such a c**k You have conveniently forgotten that since your prediction "When, ever, in the history of the world has a share recovered so dramatically?" the SP moved from the 60's up to �1.17! It is just a matter of time before you are proved wrong again.... GL
Meta89 - your comment to Aedjo is the opposite of "fair" If you want some terrible advice, you need to re-read your own previous posts. Most negative poster ever - even following good news - what is your agenda! Try a balanced post for once - it might cheer you up a bit
Ron Shabby, Agree total madness They have the most audited balance sheet in the whole of the Construction Industry by independent auditors Ernst & Young. They were given a clean bill of health and secured the re-financing deal that was far better than expected by the market, who had were suggesting they were another Craillion. All the bad news is out of the way. They have stated that 2017 profits will be in line with expectations or better than expected. Can't see a down to investing here. Be good if they could issue the 2017 results at the end of March rather than waiting to end of April to steady the market and remove an opportunity for the shorters... Large investors are probably waiting for the RNS that states the legal agreement have been signed on the re-financing before investing. Frustrating if we have to wait another 4 weeks!. Amazing buying opportunity now - I'm loading up further......
Best opportunity available - massively undervalued SP at present 3 years security gauranteed Borrowing facilities of �834m less �513 debt = �321M to re-structure & grow... Better than expected 2017 results to be announced (possibly this week) Good news RNS to follow confirming legals sorted on financing, then large investors move in....... Just needs to gain a little momentum in the right direction!
Aendjo A good balanced post. Think murphyslaw27 may have misunderstood your point mentioning priced for bankruptcy. The dilution of shares 20% or 25% (don't care how it is described) - have some people here missed the point? As well as probably the best deal that could be achieved, is it also a stroke of genius? I have stated previously 65% private investors and 35% institutional investors at present. This is not a good balance for Interserve as no longer term SP stability and too much short term volatility. How do you quickly increase the % of institutional investors whilst guaranteeing financial stability? Do exactly what the CEO and Board have done. A year from now we will look back at this as a masterstroke. Interserve need to have a steady year, achieve what they said they will do and the market will regain confidence. If they can do this the SP will be between £3 and £4. Next year when the SP is high enough they will raise equity and vastly reduce their leve of debt. A lot of hard work to go, but they have the right BOD in place. I am confident. In the short term a slow rise to £1.50 with lots of ups & downs on the way. GLA
Profit taking on a Friday... Steady rise next week......
Will these be published at the end of March as originally planned? Or now put back until the end of April alongside the completion of the refinancing legals? I understand these are anticipated to be as expected or better than expected This could give the SP another prod upwards if published next week.
Just like a bad penny! Hi Meta89 Anyone who bought on the spike this morning shouldn't need to wait long... It was always going to spike and drop back, no one knew how high or how quickly. There is value to be had getting in at �1 here. I have all my capital already tied in at a lower average but had I not, I would go back in even following today's 13% rise. Agree with previous post. Some probably have been on the ropes here for some time and just want to get out now the SP has recovered. There may be a trend of this as the SP rises, Everyone will have their own target and like you say, you haven't made a profit until you sell! I'm looking for �2 for a six figure profit but this will be a fair wait in my view
I think there are a number of things at play here. Large institutional investors maybe waiting until everything is fully signed off before joining the party. Some are still trying short the share A lot taking a quick profit eg. If average was 60p or below a quick �6k profit on �10k investment Some are day trading As someone said, the shareholder base is 65% private investors and 35% institutional. This is unusual for such a large company. Should be far higher % of large institutions. Until they can attract the large institutions then large upwards movement may not happen as fast as we all would like. I see a gradual rise upto �1.50 at end of April unless the large players step in. �1.2M buys after close is a good sign and if we get more of this then who knows how fast it will move Also, if the majority of shorts are closed then again it could shift. I think we will just have to be patient and not forget that the level of risk here is now very low relative to the last few months GLA
Mbingo Yes spot on a big buyer in the background gobbling up shares at a discount price of circa �1 Approx 1.2M of buys after close Sp closed at 99.3 but should now open above �1 tomorrow Surprised so many selling to the institutional investors at such a low price Easily �1.50 by end of April imo