Member Info for GrumpyScouser

Lots of 'sells' then a Holdings RNS showing that they were sold to a buyer ;-) Expect the same next week.....except for the SGH RNS which is due. See you in a week or so

Am I not correct in thinking that vultures might normally be said to 'circle'? Personally I've no objection to more than one trying to pick away at the bones as there appears to be some profitable meat left on the dying carcass. <for those of a sensitive disposition: I apologise for the healthy dose of irony>

Pith helmet....baggy shorts.....leather suitcases..... So long as he opens a chain of Gentlemen's Gin Parlours requiring a certain tonic, that's fine

Likewise. Back to normal now:

Looking at the prices of those transactions: are they not just the placing shares now changing hands?

With £73m invested by institutions, one mught reasonably expect that they've done their homework. I took a chuck out a couple of weeks ago but to me this looks like an opportunity to re-invest.

for sure, bondy....way way lower....

Your suspicions are quite correct ;-)

No idea where that eye came from...typing on train.

@Dar : I intend to be at the AGM but there is a risk that business travel will have to take priority this year. If I do go, I'll be far quieter than previously: two ears, one mouth eye. @sparjles: 're the IIs.....i suspect you're right. Especially M&G who must have a relatively high average still.

@sparkles: perhaps you'd like to raise that publicly at the AGM

@Dar- 'Just a thought --- Could this - A bitter and twisted former employee with an axe to grind has come forward with something Be RT .............' I've suggested the former employee angle several times and it may still be an option. No way it's RT as he would just be incriminating himself ;-) I also subscribe to a very good post on HotCopper which puts the potential value of the claims into perspective with regard to the 20c/$ pdebt purchase of SGH: makes the potential returns worth pursuing by their new captors.

@spikeyj: I wouldnt dream of using uncouth language ;-) I have to admit I'm disappointed but not suprised at Indro leaving. That said I'm not convinced that the 'fire sale' will result in 'scrap prices'........I'm suspicious that this is all a ruse to apply pressure to existing discussions by opening up the field.....wouldnt you? I'm also a little suprised at his compensation, although (taking out the share price) the changes he has applied to the business have brought the desired focus and ongoing improvement. He also walked into a pile of poop and was given the task of picking it up with nothing more than a small kleenex whilst a pack of mastiffs with the runs stood close by ;-) Moving forward I'll be voting against director compensations that are not directly related to the sp.....

I suspect you're right :-) With the SFO, however, I'd hope that he would be using his position to have a frank discussion with them about either bringing charges or closing the case. We're 18 months in; multiple phases of interviews will have taken place;nobody has been charged or warned (an RNS would almost certainly have been issued) yet there is a significant risk that the case could be left 'pending' for another couple of years. Only the shareholders will be penalised under this approach since the threat of SFO charges is one of the primary causes of the sp being stifled. It seems a less than reasonable approach....but nobody said the SFO was required to act reasonably? lol

@sparkles: I agree with much of what you've said (apart from the phrase 'fire sale' since that's not an accurate reflection of the situation). There was a pretty good post elsewhere which tries to reason why SGH have gone against the advice of their own selected barrister who denied the possibility of a claim for fraud:- Here is why. Distraction, action, reaction, conviction. SGH have an CA issue. The best way to defend such action is to sue the main reason behind the CA, which was the buying of Quindell. If SGH wins the suit, they eliminate the CA too. So a win/win. Definite win for the Hedge funds, they get up to $1.2m on their $150m outlay Shareholders would be the only real losers, both current and CA participants, no payment to them. If SGH only half win, or it's drawn via exhaustion or non committal on both parts, SGH would be possibly entitled to all or some of the escrowed funds at a minimum, so again it's worth a punt for the hedge funds. Say SGH get 50% of the escrowed funds only, that's $25m return for their (Hedges) current $150m investment, not a bad start. A drawn outcome with mention from Judge that both sides have merit, this will also hurt any CA. So again a win/ win for SGH and Hedge, nothing for current holders or CA. In other words, you go for $600m to get the $50m in escrow, or at very least a decent portion. It's a punt worth taking IMO for the new holders/soon to be 95% owners of SGH, the hedge funds. The hedge funds are the ones now controlling SGH and its direction. It would be the hedge funds enacting SGH to proceed with the suit. The new lenders have paid circa $150m for $1.2bln in SGH loans. They now stand to possibly gain: $600m+ via lawsuit or $50m in escrow or part there of or $1.2m in loans (to be paid by SGH) over time and/or script to be taken in lieu of cash and control of SGH circa 95%+ So you simply start at the top and work your way down the branch. Normally with suits of this size there is an element of truth for both sides of the coin, so worth the punt as they inevitably get settled

You spend months waiting for an RNS and along come three in a row.

I suspect II's have access to significantly more information including specialist risk assessment teams/lawyers. Somehow I doubt they are 'taking a punt' or a careless risk.

Waddaya think? Thursday? £1.3m spent yesterday in just three blue transactions.........

So *that's* why it's called Shredder!

........and breathe :-) But what if something has come to light? What if the FCA got it wrong? What if the SFO have been deceived for the last 18 months, not only in the documentation but also the numerous one-on-one interviews? What if one of the cleaners in the Melbourne office found something which had been missed? It's still a possibility......