For several months now I’ve been wondering... who is Myosotis?
Do they work for SXX? Are they a PR rep who has been charged with keeping interest and positivity up?
Either way I am very impressed with his/her posts, but it does make me wonder who the dickens they are and whether they work for SXX either directly or indirectly.
Well what an absolute load of sh*t this share turned out to be haha.
James Parson and Fiona Macauley wouldn’t know their ar*ehole from a good oil field.
I remember this was 26p not too long ago!
I hope you mugs don’t have much invested here, it’s only going one way. The same as all of JP’s other companies.
You should report the BOD to the FCA and action fraud for misleading you.
I couldn’t agree more Thornback.
I have a feeling things will all be fine by the end of the year, it could be a long time until we see the great high of 2016 though.
Even if the bonds don’t get sold I’m sure CF will come up with some BS to keep things ticking along nicely until the all-important Q4 2021 first poly day.
Crikey SouthCumbria that’s quite a lot of shares at a low average.
Just think when it gets to £1 in 2024-6 you will have made quite a profit there.
If you don’t mind me asking what do you do for a day job, would you want to give it up or would you just become bored all day without it?
You are one of my favourite posters on here and I am a long time admirer. However, your bullish outlooks never cease to amaze me; still I too hope we are 30p by end of September! And indeed I have heard from chaps on the ground we are well ahead of schedule.
Also JR: what happened to your 16:35 daily price updates? They were one of the highlights of my late afternoon.
Please take your bearish outlook elsewhere; there is no doubt these bonds will be sold by end of Q3.
The day they went to market was one of the worse days in recent times. Things have since improved markedly and with the trade war called off until mid-December should remain that way.
Why don’t you and go and pour some coffee for the construction workers on the ground?
Now the trade war has been suspended until mid-December we should see bond markets calm down.
Those who are astute with debt markets will be aware the couple of days we offered there 13.5% 2027 bonds were two of the worse days in recent times by quite a margin.
I have every faith they will sell successfully next time before the end of September. We may even get them through at 13.5% rather than having to raise the rate or attach warrants.
Based on negative gilt yields I would say this is highly likely.
If OP4 was who he / she says they were, I doubt they would be that easily traceable as they would be using a VPN / proxy server to access the site and of course wouldn’t give their real name or email address when registering on here. That doesn’t make it impossible to trace them, but it damn sure doesn’t make it easy.
I think we can all take comfort in today’s rise and the wider market news.
However while there is still no 100% guarantee the bonds will get sold in their current state, as long as things stay relatively positive over the next few weeks CF should be able to get some form of finance package over the line. Worse case scenario is possible further long-term dilution in the form of convertible bonds.
I do not believe the stories on this board of SXX staff being given “sales pitches” by managers to purchase shares however; this would be seen as an ‘invitation to deal’ under MIFID 2 regulation and subsequently a breach in the absence of an individually tailored suitability letter for each colleague.
Furthermore I question anyone on this forum who claims to work for SXX and have any contact with upper management / directors. Under insider trading law they wouldn’t post a morsel on this board. We may, however, have the odd construction worker who I am most glad to hear of progress from.
In the context I was speaking of, a re-rate would be referring to the price heading back to at least the early 20’s (lets not forget it was over 38p only year ago so this is hardly ‘pie in the sky’)
To answer your question I fail to see how a re-rate wouldn’t be a good thing in the next few months - it would bring a plethora of benefits, not least making us more expensive for a hostile takeover and also making the subsequent bond tranches more attractive. If we have further segments of $500m to raise, the higher the share price means the higher the MCAP therefore a more valuable company.
Would you rather lend $500m to a company worth $500m, or lend it to a company worth $3000m?
There’s going to be lots of upset PI’s when this rises again. We have seen time and time again the way the SXX price pans out - it has a long history of going up and down dramatically.
Hopefully, once the bonds are sold in September and we have the Q4 update in October, it will re-rate and stay within a higher trading range, bringing and end to these annual swings in price.
Unless we get any TR-1’s by the end of this week I am not concerned whatsoever. If you sell now you are just giving your shares away cheap to institution investors.
Does anyone know one of Thomas Staley’s key objectives (asides landing st2?) ... it was to get the shares out the hands of PI’s and into II’s.
Sell at your peril.
I have absolute faith in CF to deliver these bonds on time. As stated with all the problems in the world currently a 13.5% secured yield is just what fund managers are looking for.
I wouldn’t be surprised if the current line-up of institutional investors take at least half of them.
Some on here must have very short memories: it was only a couple of months back the previous tranche of bonds (albeit convertibles) sold very quickly - and the share placing was seriously oversubscribed.
With panicky PI’s like some on here invested, I can see why the BOD wanted to shift ownership to large institutions! Have you seen any of them sell over the last week? Perhaps I have missed the mandatory and legally required TR-1’s?
It says an awful lot that this forum is full of negativity during normal working hours Mon - Fri, yet at the weekends there are no such posts.
It’s also different usernames posting drivel during business hours. I can only assume they are paid de-rampers from the big shorting firms. Considering how much they can make by moving an SP even a small amount, the cost to pay a few imbeciles on a forum would be a pittance.
You say the bonds didn’t fly (it’s true they were pulled), but how do you know CF didn’t pull them in order to get a lower yield a few weeks down the line?
In my opinion it was a shrewd move to suspend the bond sale - it gives the market time to digest the Fed rate drop / global slowdown and allows it to appreciate higher-yield bonds. Additionally, it is clear the day the bonds went to market that a certain US president caused turmoil, so it made complete sense to pursue this deal at a later time.
Also, don’t forget these were never due to be sold until the end of September anyway, so no one can say we are any other than ‘on schedule’.
The bonds will sell by end of September as per the original plan. There is no need to panic, this new low SP is essentially a gift for those who wish to top up.
Do you really think that the 30% institutional investor owners would let this go to the wall? There is $1.6bn already on the ground, $2.5bn on the table from JPM and all CF needs to do if shift $0.5bn bonds @ 13.5%. Hardly a difficult task when the Fed has just cut rates and gilts are negative.
These bonds will fly, and if they won’t, CF can just increase the coupon or attach warrants.