Member Info for GreenWolf

hinkais - look at it this way - if you had lent money to a company that had posted the type of RNS we did on 1st April and they issued you with shares to pay a debt, would you hang on to them or dump them into the market at the best price you could get? You quite clearly bought in yesterday for a trade - that's fine but there are posters on here that have been invested in Edenville for a long time and understand the real challenges we have as a going concern. GLA

sgee - I agree too - it's interesting reading the post history of some people - a lot of bottom feeders on LSE boards who like to buy in at / near the bottom and ramp the back end out of a share. It's never changed. GLA

My feeling is that Lind have been paid partly with shares and they dumped the lot yesterday at 0.018. The rise today looks like a slight rebalance in the market back towards the levels we were at the end of last week. The fundamentals here haven't changed so I don't see a substantial rise here today - it's simply not justified. That said, GLA.

deltalo - I assume you've done your due diligence before buying then. GLA

Aerial - good to see you back. I'm afraid I don't see any hope of a buyout now we have borrowed against the crown jewels from Lind. I hate to use the phrase death spiral in terms of our finances, but I simply don't see how we are going to turn this around. A change in Tanesco's stance might pump the share price a bit but our current production rates are providing us with a monthly loss. GLA with whatever you have left in here!

Judge - what I don't get is why would MA buy c£500m of debt for £60m, because that is more or less what were talking about here. He would become liable for servicing that debt which could be on an immediate basis. MA wants to be in control of Debs, but does he actually want to buy it at this stage? That's the big thing troubling me with this "potential" 5p offer. GLA

Kelladee - the update from Monday

Yes - that's the clause.

Larry - the sad fact for me, particularly given the factual bits and bobs I'm currently pulling together, is Edl has played out like a fair few other AIM stocks - a great prospect that has ultimately failed to become a profitable going concern. A lot of the RNS statements haven't been factually incorrect, but a bit woolly, which ultimately leaves any interpretation and investment decision squarely with PIs. One thing I'm currently struggling with is Clause 101 of the Articles of Association - I'm hoping there is someone on here that can tell me if this has actually been modified at any of our AGMs, as I can't find that it has. GLA

Jarv55 - don't disagree but there is a clear power struggle going on between the Debenhams BoD and MA. There is no love lost between them and I feel that those personal grievances are very much in the thinking. I've not yet taken the punt on this, but watching. However, the selling down by IIs is a clear red flag to me. I remember in FlyBe there was some serious II selling at 9p and nobody could quite fathom why, although we now know given the final outcome. Debenhams is dangerous territory and I think it is a pure binary gamble - prepack or MA takeover. Which way that falls is really anyone's guess. GLA whatever your choices.

Sausage - the sad fact though is that we as PIs are stuck in exactly that same corner as Rufus. GLA

Yes - I've been here a long time, although I have sold out and bought back in over the years.

john - "where has this gone?" - well, there's a question for our esteemed CEO. I found yesterday's Corporate Update RNS a disgrace - it was all about the failure of the Open Offer which was quite clearly aimed at current shareholders and PIs. There was no mention of the monies loaned back in November and how his has been apportioned to the relevant areas defined in the November RNS. The cost cutting exercises yesterday's RNS mentioned should have been in place ages ago. Why is it a number of us on here have seen the cliff edge coming for well over a year, yet our BoD has done nothing? GLA

bigeye - you can't defend the BoD here to any degree. We have constantly been spouted the jam tomorrow line, there has been ongoing lack of communication, the P&L figures simply don't add up to a going concern and to be paying the sorts of salary to our CEO as a clear failure is somewhat staggering. And to top it all we have hedged our main assets against a seemingly death spiral funding with Lind. We're losing money, can't raise funds and we have a RNS on 1st April that says we are struggling to continue operations because of a lack of funds. There's really been very little positive things to say for quite a while.Even Aerial has given up his positive posts. I'm not one to defend overly positive or negative posts, but it's looking pretty dire for us PIs here. GLA

This is a pure gamble - Debenhams BoD and MA are playing each other off in a game of who will jump last. And in my experience it will PIs that get caught in that cross fire. MA doesn't want Debenhams except at as low a price as he can get it and to suggest higher than 5p carries no substance whatsoever. And the Debenhams board would like nothing more than to wipe out his entire holding and see the back of him by going pre-pack. I am astounded at some of the comments on here, notably from one or two posters who were on the FlyBe board when I got abuse about being cautious. And look how that ended. People need to ignore the noise and make their own decision based upon their own due diligence - for me it's just too risky at the moment so I'm just waiting on the side lines. GLA.

Stuigee - yes, will do. It's all very low key and informal as I have access to lawyers in my work and it will undoubtedly come down to a cost issue if I get to a decision point of taking things further.

The reality is simple - this is a clear binary bet. My view, as a very small value free ride shareholder, is nobody knows which way this is going. MA doesn't particularly want Debenhams but he also doesn't want to be wiped out and lose face. He's already had a difficult enough time explaining the loss on the Deb shares to Sports Direct shareholders. If he wanted it, the 5p would materialise into a proper bid. Why hasn't it? The BoD is now in a position whereby it can wipe out shareholders and survive. We've seen Flybe and Interserve stuff shareholders recently - why would this one be any different? I would urge a lot of caution here - it is a pure gamble either way. GLA

Bigeye - although I suspect there are one or two posters around that may well be linked via the same IP address.

Bigeye - isn't that called a balanced debate? GLA

Bigeye- where's your mate Aerial? He's gone very quiet on Edenville of late.